HomeMy WebLinkAboutResolution No. 218RESOLUTION NO. _2�L8
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 OWNER PARTICIPATION
AGREEMENT BY THE AGENCY WITH AAJ, INC. AND STARLITE MOBILE ESTATES
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 OWNER
PARTICIPATION AGREEMENT PERTAINING THERETO; AND AUTHORIZING THE
EXECUTION AND IMPLEMENTATION OF SAID OWNER PARTICIPATION
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 an Owner Participation Agreement (the "Agreement") which property is
described in said Agreement; and
WHEREAS, AAJ, Inc. and Starlite Mobile Estates 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 Owner Participation Agreement between the
Agency and AAJ, Inc. and Starlite Mobile Estates 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 AAJ, Inc. and Starlite Mobile
Estates and the Owner Participation 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 Owner
Participation 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 Owner Participation Agreement on behalf of the Agency.
PASSED, APPROVED AND ADOPTED this 21st day of October, 1985.
i
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the City
Council of the City of Azusa at a regular meeting thereof, held on the 21st day of
October , 1985, by the following vote of the Council:
AYES: AGENCY MEMBERS: CRUZ, COOK, CAMARENA, LATTA, MOSES
NOES: AGENCY MEMBERS: NONE
ABSENT: AGENCY MEMBERS: NONE
ATTEST:
E RETARY
APPROVED
AS TO FORM:
Y COUNSEL