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Home My WebLink AboutResolution No. 38REDEVELOPMENT AGENCY OF THE CITY OF AZUSA LOS ANGELES COUNTY STATE OF CALIFORNIA A RESOLUTION OF THE REDEVELOPMENT AGENCY OF'THE CITY OF AZUSA AUTHORIZING THE ISSUANCE OF RESIDENTIAL MORTGAGE REVENUE BONDS 1979 SERIES A RESOLUTION NO. ZL, r , ADOPTED 9/a 1979, REDEVELOPMENT AGENCY OF THE CITY OF AZUSA AZUSA CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT SUMMARY STATEMENT OF BASIS FOR JUST COMPENSATION OWNER: JOHN AND LYDIA E. GONZALES, HUSBAND AND WIFE PROPERTY ADDRESS: 428 and 432 North San Gabriel Avenue Azusa, California TOTAL PROPERTY AREA: 14,000 square feet PRESENT ZONING: C-2 PRESENT USE: RESIDENTIAL AND COMMERCIAL PROPERTY TO BE ACQUIRED: See Exhibit A Items set forth in Exhibit A are considered to be real property and will become the property of the Azusa Redevelopment Agency upon payment by the Agency to the owner. All personal property may be retained by the person -entitled thereto. AMOUNT OF THE OFFER: $11,765 STATEMENT OF THE AGENCY'S DETERMINATION OF THE AMOUNT OF THE OFFER: The above amount is believed by the Agency to be the full amount of "just compensation" for the acquisition of the above- described property. The determination of just compensation is based upon the Agency's inspection of the property and the consi- deration of an appraisal of the property made independently by a competent professional appraiser. The determination of just compensation is not less than the Agency's approved appraisal of the "fair market value" of the pro- perty. the term "fair market value" is defined and recognized by the courts of this state in eminent domain proceedings as: "...the highest price estimated in terms of money which the land would bring if exposed to•sale in the open market, with reasonable time allowed in which to find a purchaser, buying with knowledge of -all the uses and pur- poses to which it was adapted and for which it was capable" [Sacramento Southern R. Co. v. Heilbron, 156 C. 408, 409, 1.04 P. 979, 980 (1909)1f. and the term as so defined was used by the Agency and the appraiser in making their respective determinations of value. Any decrease or increase in the fair market value of the real property to be acquired prior to the date of valuation caused by the Azusa -Central Business District Redevelopment Project or by the likelihood that the real property to be -acquired would be acquired for the purposes of the Redevelopment Project, other than that due to physical deterioration within the reasonable control of the owner, has been disregarded by the Agency and the appraiser in making their respective determina- tions of value. However, in the event any significant change in physical conditions of the property occurs prior to the time the Agency acquires title, the determination of fair market value and the amount of the offer are subject to redetermination by the Agency. Nevertheless, it should be noted that the appraisal and the Agency's determination of just compensation do not reflect any consideration of or allowance for any relocation assistance and payments which the owner may be entitled -to receive under state law or for the Agency's agreement to pay certain costs arising from the purchase of the property. -2- ' EXHIBIT A LIST OF FIXTURES AND EQUIPMENT LYDIA'S BEAUTY SALON 432 NORTH AZUSA AVENUE AZUSA, CALIFORNIA EQUIPMENT 2 Hydraulic chairs, Maghew, Model nMHB 2 Shampoo chairs, metal and plastic upholstery quilted 3 Dryer chairs, metal, plastic upholstery quilted, arm, each with Swift Model 210 dryers 1 Dryer chair, metal & plastic upholstery with Bonat Ullman convertible 2 Shampoo stations comprising: 2 - shampoo basins with hot . & cold mixer faucets and spray attachments 1 - 5'2"x6h,"x40" high ceramic tiled and wood panelled back 1 - item of plumbing 1 - electrical outlet 1 - water heater Rheem, 30 gallon capacity with gas and.water piping' 1 Fire extinguisher 1 Lady Kenmore "800" washing machine automatic, 8 program top load with 1 Lady Kenmore "800" dryer electric, front load 1 Drinking fountain, Westinghouse 2 Styling stations, wood, 40" plastic clad, single pedestal each with 40"x32" mirrors , r AMOUNT 1,000 650 800 150 4,250 25 i 300 250 600 -2- AMOUNT 175 300 `CI 100 40 30 400 .45 100 60 _100 125 40' 25 40 300 30 290 2 Wall mirrors, plate glass, 4'9"x3'0" bevelled edge plain 1 Air conditioner mounted in wall-.Frigidaire 1 Appointments desk, wood + 48"x25" 1 i 1 - Cash register Corona, full ` keyboard, manual print with i single drawer !i 2 Booster seats, plastic uphol. 1 Costumer, wood 3- Table stands portable, metal, 2 single and 1 double tier with 4 curler trays 1 Bookcase wood, 5 tier 36"x9V x47" 1 • Cabinet display wood, 2 sliding glass doors, 30"x12"x37" 1 Stool, portable, metal, upholstered top 1 Manicure table, metal and -wood, drawer, plastic top, 32"X16" i 1 Desk; wood single pedestal 35" 2 Drawer units, 1 metal, 20 plastic drawers, 1 wood, 9 plastic drawers - 1 Bookcase, wood, 20", 3 tier 1 Rug, 9'x12' 1 Settee, plastic upholstery ;4 place .1 Magazine stand, 22" portable wood & metal 1' Pair drapes, 145#.sq. ft. -2- AMOUNT 175 300 `CI 100 40 30 400 .45 100 60 _100 125 40' 25 40 300 30 290 SIGNS 1. Neon sign, 11 letters, hanging, 3± sq. ft. "BEAUTY SALON" TOTAL SIGNS TOTAL EQUIPMENT.& SIGNS -3- AMOUNT 30 125 350 250 $ 11,465 300 $ - 300 11,765 r I Sun blind, 75± sq, ft. 1 Hand rail wrought iron "L" shaped, 10'7" long 1 Facial chair, metal with plastic upholstery 2• Chairs, to include, 1 chair side arm metal, plastic upholstery; 1 chair, wood swivel arm 1 Counter, wood, plastic top, 97"x22" cabinet bases, 2 sliding doors, 2 doors 1 'Desk table,'wood, 54" lino top . 3 Cabinets, assorted to include: 1 - cabinet wood, 14"x10"x63". 1 - metal, single door, 24"xl2"x64" 1 - metal, single door and drawers, 28" TOTAL EQUIPMENT SIGNS 1. Neon sign, 11 letters, hanging, 3± sq. ft. "BEAUTY SALON" TOTAL SIGNS TOTAL EQUIPMENT.& SIGNS -3- AMOUNT 30 125 350 250 $ 11,465 300 $ - 300 11,765 RESOLUTION NO. _, A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA AUTHORIZING THE ISSUANCE OF RESIDENTIAL MORTGAGE REVENUE BONDS 1979 SERIES A RESOLVED, by the Redevelopment Agency of the City of Azusa, that WHEREAS, the legislature of the State of California has authorized redevelopment agencies to make long-term, low-interest loans through qualified mortgage lenders to finance residential construction in redevelopment project areas (and, under certain circumstances, outside of such areas) in order to encourage investment and upgrading of such areas, and to issue bonds for the purpose of financing such construction; WHEREAS, the Redevelopment Agency of the City of Azusa, hereby determines to provide for the issuance of Residential Mortgage Revenue Bonds, the proceeds of which are to be used to finance such residential construction in the locations and of the character in this Resolution provided; and WHEREAS, all acts, conditions and things required by law to exist, happen and be performed precedent to and in connection with the issuance of said revenue bonds exist, have happened and have been performed in regular and due time, form and manner as required by law, and this Agency is now duly empowered to issue such Bonds; NOW, THEREFORE, IT IS ORDERED AS FOLLOWS: