HomeMy WebLinkAboutResolution No. 21RESOLUTION N0. 21
' A RESOLUTION OF THE REDEVELOPMENT'AGENCY OF THE
CITY OF AZUSA MAKING CERTAIN FINDINGS WITH RESPECT
TO THE CONSIDERATION`TO BE RECEIVED BY THE AGENCY
PURSUANT TO A DISPOSITION AND DEVELOPMENT AGREEMENT
BY THE AGENCY WITH FOREST CITY DILLON, INC. FOR THE
SALE AND DEVELOPMENT OF CERTAIN REAL PROPERTY IN
THE AZUSA CENTRAL BUSINESS DISTRICT REDEVELOPMENT
PROJECT; APPROVING THE PROPOSED SALE OF SAID REAL
PROPERTY AND THE DISPOSITION AND DEVELOPMENT
AGREEMENT PERTAINING THERETO; AND AUTHORIZING THE
EXECUTION AND IMPLEMENTATION OF SAID DISPOSITION
AND DEVELOPMENT AGREEMENT.
WHEREAS; the Redevelopment Agency of the City of Azusa
(the "Agency") is engaged in activities necessary to execute and
implement the Redevelopment Plan for the Azusa Central Business
District Redevelopment Project (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") which
property is described in said Agreement; and
WHEREAS, Forest City Dillon, Inc. 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, the 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 setting forth the cost of the Agreement 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 made said summary available for public inspection in
accordance with the California Community Redevelopment Law; and
WHEREAS, the Agency has approved the Initial Study of
Environmental Impact prepared by Agency staff, and has determined
that a subsequent environmental impact report need not be prepared in
connection with the proposed sale and development of the Site; and
WHEREAS, pursuant to the provisions of the California
Community Redevelopment Law, the Agency and the City Council of the
City of Azusa held a duly noticed joint public hearing on the proposed
sale of the Site and the proposed Agreement; and
WHEREAS, the Agency has 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, the Redevelopment Agency'of the City of
Azusa does resolve as follows:
SECTION 1. The Agency hereby finds and determines that
the consideration for the sale of.that certain Site pursuant to the
Disposition and Development Agreement between the Agency and Forest
City Dillon, Inc.'is not less than fair market value in accordance
with covenants and conditions governing such sale.
SECTION 2. The sale of the Site by the Agency to Forest
City Dillon, Inc..and the Disposition and Development Agreement which
establishes the terms and conditions for• the sale and development
of such Site, are hereby approved.
SECTION 3. The Chairman of the Agency is hereby authorized
to execute the Disposition and Development Agreement on behalf of
the Agency.
SECTION 4. 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 Disposition and Development Agreement on behalf of the
Agency.
PASSED, APPROVED AND ADOPTED this 4th day of June, 1979.
MKIRMAN
ATTEST:
1 .,