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ARA1979-012RESOLUTION NO. ARA79- 12 A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY MAKING CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION TO BE RECEIVED BY THE ANAHEIM REDEVELOPMENT AGENCY PURSUANT TO A PARTICIPATION AGREEMENT BETWEEN THE ANAHEIM REDEVELOPMENT AGENCY AND ROBERT EUGENE BENTLEY AND SHARON LYNN BENTLEY FOR THE SALE AND DEVELOPMENT OF CERTAIN REAL PROPERTY LOCATED AT THE NORTHEAST CORNER OF LINCOLN AVENUE AND HARBOR BOULEVARD; APPROVING THE PROPOSED SALE OF SAID REAL PROPERTY AND THE DISPOSITION AND DEVELOPMENT AGREEMETNT PERTAINING THERETO; AND AUTHORIZING THE EXECUTION AND IMPLEMENTATION OF SAID PARTICIPATION AGREEMENT. WHEREAS, the Anaheim Redevelopment Agency (the "Agency ") is engaged in activities necessary to execute and implement the Redevelopment Plan for Redevelopment Project Alpha (the "Project "); and WHEREAS, in order to implement the Redevelopment Plan, the Agency proposes to sell certain real property (the "Site ") in the Project area, pursuant to the terms and provisions of a Disposition and Development Agreement (the "Agreement ") and which property is described in said Agreement; and WHEREAS, Robert Eugene Bentley and Sharon Lynn Bentley (the "Developer ") has submitted to the Agency a written offer in the form of said Agreement to purchase the Site; and WHEREAS, the proposed Agreement contains all the provisions, terms, conditions and obligations required by state and local law; and WHEREAS, Developer possesses the qualifications and financial resources necessary to acquire and insure development of the Site in accordance with the purposes and objectives of the Redevelopment Plan; and WHEREAS, the Agency has prepared, reviewed and considered a Summary Report setting forth the cost of the Agree- ment to the Agency, the estimated value of the interests to be conveyed determined at the highest uses permitted under the Redevelopment Plan, and the purchase price, and has made said Summary Report available for public inspection in accordance with the California Community Redevelopment Law; and WHEREAS, the Agency has found on the basis of an Initial Study that said Agreement will not result in substan- tial changes in the Project or the circumstances under which the Project is to be undertaken, that no Negative Declaration, Subsequent Environmental Impact Report or Supplement to an Environmental Impact Report is required, and the the proposed -1- action will have no significant effect on the environment except as identified and considered in the previous environ- mental impact report; and WHEREAS, pursuant to the provisions of the California Community Redevelopment Law, the Agency and the City Council of the City of Anaheim have held a duly noticed joint public hearing on the proposed sale of the Site and the proposed Agreement; and WHEREAS, the Agency has duly considered all terms and conditions of the 'proposed sale, and believes that the redevelopment of the Site pursuant to the proposed Agreement is in the best interests of the City and the health, safety, morals and welfare of its residents, and in accord with the public purposes and provisions of applicable State and local law. NOW, THEREFORE, BE IT RESOLVED by the Anaheim Redevelopment Agency as follows: 1. The Agency hereby finds and determines that the participation consideration for the sale of the Site pursuant to the Agreement between the Agency and Robert Eugene Bentley and Sharon Lynn Bentley is not less than the fair market value of the Site in accordance with the covenants and conditions governing the sale. 2. The Agency hereby finds and determines that the con- sideration for the sale of the Site pursuant to said Agreement is less than the estimated value at the highest use permitted under the Redevelopment Plan as set forth in said Summary Report, and that such lesser consideration is necessary to effectuate the purposes of the Redevelopment Plan. 3. The sale of the Site by the Agency to Robert Eugene Bentley and Sharon Lynn Bentley and the Disposition and Develop- ment Agreement which establishes the terms and conditions for the sale and development of the Site, are hereby approved. 4. The Chairman of the Agency is hereby authorized and directed to execute the Participation Agreement on behalf of the Anaheim Redevelopment Agency. 5. The Executive Director is hereby authorized to take all steps, and to sign all documents and instruments (including but not limited to the Grant Deed), necessary to implement and carry out the Agreement on behalf of the Agency. THE FOREGOING RESOLUTION is approved and adopted by the Anaheim Redevelopment Agency this 13th of February, 1979. .� r ATTEST: �n niVixiv ANAHEIM REDOVELOPMENT AGENCY ' SECRETARY ANAHEIM REDEVELOPMENT AGENCY MES : j h -2- Alml�. STATE OF CALIFORNIA ) COUNTY OF ORANGE ) CITY OF ANAHEIM ) I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do hereby certify that the foregoing Resolution No. ARA79 -12 was passed and adopted at a regular meeting of the Anaheim Redevelopment Agency held on the 13th day of February, 1979, by the following vote of the members thereof: AYES: AGENCY MEMBERS: Overholt, Kaywood, Kott, Roth and Seymour NOES: AGENCY MEMBERS: None ABSENT: AGENCY MEMBERS: None AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment Agency signed said Resolution on the 13th day of February, 1979. IN WITNESS WHEREOF, I have hereunto set my hand and seal this 13th day of February, 1979. SECRETARIt OF THE ANAHEI REDEVELOPMENT AGENCY (SEAL)