HomeMy WebLinkAboutResolution No. 666RESOLUTION NO. 666
A RESOLUTION OF THE BOARD OF DIRECTORS
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
APPROVING THAT CERTAIN AGREEMENT ENTITLED
"DISPOSITION AND DEVELOPMENT AGREEMENT BY AND
BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY
OF AZUSA AND JEFFREY SCAPA"
THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE
CITY OF AZUSA DOES HEREBY 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 staff and Jeffrey Scapa have negotiated a
proposed Disposition and Development Agreement for the
acquisition and sale of certain property in the Central
Business District Redevelopment Project Area which
agreement conditions the sale of said property upon its
redevelopment and such other matters as are required by
the Community Redevelopment Law.
B. The Agency and the City Council held a duly -noticed
joint public hearing on said sale and approval of the
disposition and development agreement pursuant to the
requirements of Health & Safety Code Section 33433 and
other applicable law.
C. Concurrently with the first publication of the notice
of said joint public hearing, the Agency and the City
made available to the public a report on the proposed
sale of the property and the terms of the agreement,
which report was duly prepared and made available to
the public in accordance with the requirements of
Health & Safety Code Section 33433 and other applicable
law.
D. Although the sale price of the property may be less
than the Agency expenditures in acquiring and improving
it as more particularly set forth in the report
described in subparagraph C, the Board of Directors of
the Agency and the City Council specifically find in
accordance with the authority of Health & Safety Code
Section 33433 that said difference is necessary to
effectuate the provisions of the Central Business
District Redevelopment Plan in that said difference in
cost is necessary to revitalize the project area and
the actual purchase price of the property is within the
range of values of comparable residential properties in
the area. Mr. Scapa will acqurie the property "as -is"
and will rehabilitate the building facade and premises
in conformance with the Agency's master architectural
plan for this property. In addition, Mr. Scapa must
repair and correct health and safety code violations,
both on the interior and exterior of the property,
physically maintain all improvements for the life of
the project and reserve 50% of the units for occupancy
by low and moderate income households for a period of
thirty (30) years.
E. The Agency and the City shall recoup said cost
differences over the time period set forth in the
agreement by increases in tax increment revenues which
will be directly attributable to this agreement as well
as a protection of Agency and private land development
investments on adjacent and nearby sites as a result of
the upgrades and improvements to the subject property.
SECTION 2. *The Board of
Agency of the City of Azusa
agreement entitled "Disposition
Between the Redevelopment Agency
Scapa," dated as of December 21,
attached hereto as Exhibit "A."
Directors of0he Redevelopment
hereby approves that certain
and Development Agreement By and
of the City of Azusa and Jeffry
1989 in substantially the form
SECTION 3. A Categorical Exemption, Class 1:
Rehabilitation has been prepared by the Agency for this project.
The project involves minor rehabilitation to an existing
structure and results in no signficant adverse impacts.
SECTION 4. The Secretary shall certify the adoption of
this resolution.
PASSED, APPROVED AND ADOPTED this 21st day of December 1989.
I HEREBY CERTIFY that thy foregoing Resolution was duly
adopted by the Board of Directors of the Redevelopment Agency of
the City of Azusa at a regular meeting thereof, held on the 21st
day of Decembgrby the following vote of the Directors:
AYES: BOARDMEMBERS:
NOES:
ABSENT: BOARDMEMBERS:
AVILA, STEMRICH, NARANJO, LATTA
MOSES
NONE
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