HomeMy WebLinkAboutResolution No. 3780 0
RESOLUTION NO. 378
A RESOLUTION OF THE BOARD OF DIRECTORS OF
THE REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA APPROVING THAT CERTAIN AGREEMENT
ENTITLED "EXCLUSIVE NEGOTIATING AGREEMENT
BETWEEN THE REDEVELOPMENT AGENCY OF THE
CITY OF AZUSA AND COASTFED PROPERTIES"
THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF THE CITY OF AZUSA DOES RESOLVE AS FOLLOWS:
SECTION 1. The Board of Directors of the
Redevelopment Agency of the City of Azusa hereby finds,
determines and declares that:
A. The Agency desires to have certain property
within the Azusa Central Business District
Redevelopment Project Area developed in accordance
with the Redevelopment Plan for said Project Area.
B. CoastFed Properties has submitted preliminary
plans for the redevelopment of the site and desires
to redevelop the site in accordance with those
plans.
C. The Agency has solicited proposals from other
qualified developers, as well as from owners and
tenants within the project site and held hearings
on February 10, 1987, March 2, 1987, March 16,
1987, June 1, 1987 and June 15, 1987, to determine
which development would be best for the Site.
D. The Agency has determined that CoastFed
Properties' proposal is the superior proposal when
compared with proposals from the other developers
and when compared with the proposals received from
the owners and tenants on the site when reviewed in
accordance with the criteria set forth in the
Agency's owner -participation rules for the project
area.
E. The Agency's approval of this Agreement is in
the best interests of the Agency and the City of
Azusa and is necessary and proper to effectively
implement the Central Business District
Redevelopment Plan.
SECTION 2. The Board of.Directors of the
Redevelopment Agency of the City of Azusa hereby approves
that certain agreement entitled "Exclusive Negotiating
Agreement Between the Redevelopment Agency of the City of
Azusa and CoastFed Properties" dated as of June 29, 1987,
and hereby authorizes the Chairman of the board of Directors
to execute said Agreement in substantially the form as
attached hereto as "Exhibit A."
SECTION 3. The Secretary shall certify the adoption
of this Resolution.
PMT/RES6114 • •
PASSED, APPROVED AND ADOPTED this 29thday
of June , 1987.
i
I HEREBY CERTIFY that the foregoing Resolution was
duly adopted by the Board of Directors of the Azusa
Redevelopment Agency of the City of Azusa, at a regular
meeting thereof held on the 29th day of June , 1987.
AYES: BOARD MEMBERS:
NOES: BOARD MEMBERS:
ABSENT: BOARD MEMBERS:
SE T-
AVILA, COOK, CRUZ, LATTA
MOSES
NONE
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