HomeMy WebLinkAboutResolution No. 750*SOLUTION NO. 750 0
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY CITY OF AZUSA APPROVING THAT CERTAIN
AGREEMENT BETWEEN THE AGENCY AND NATHAN KREMS
FOR CERTAIN PROPERTY LOCATED WITHIN THE
CENTRAL BUSINESS DISTRICT REDEVELOPMENT
PROJECT AREA.
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 does hereby find, determine and
declare as follows:
A. The property of Nathan Krems/Schulman Trust
located at 605 East Foothill Boulevard and as more
particularly described in the Option Agreement, is
within the Agency's Central Business District
Redevelopment Project Area. The proposed
development at this location consists of a single-
family resdiential project and the Agency has a
potential developer for the site. Approval of the
Option Agreement will allow the Agency to finalize
its project with the developer, conduct an
investigation of the site and, if acceptable,
purchase the site.
B. The proposed consideration for the option and
purchase of the site are within the fair market
value for such acquisitions considering the
current sales of comparable property within the
surrounding areas.
C. The Option Agreement and, if exercised, the
Purchase Agreement, are necessary for the
implementation of the Redevelopment Plan and are
within the best interests of the health, safety
and welfare of the community.
SECTION 2. The Board of Directors of the Redevelopment
Agency of the City of Azusa hereby approves that certain Option
Agreement and, if exercised pursuant to its terms, the Purchase
Agreement, in substantially the form attached hereto as Exhibit
"A" and authorizes the Chairman and Secretary to execute said
Agreement in substantially the form as set forth in Exhibit "A."
SECTION 3. The Secretary shall certify to the adoption
of this Resolution.
PASSED, APPROVED AND ADOPTED this 15th day of
QC -Q Q� 1 1990.
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CHAIR14AN
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 I 5th day of nrrnhpr , 19 90
AYES: BOARD MEMBERS: DANGLEIS, STEMRICH, NARANJO
NOES: BOARD MEMBERS: ALEXANDER, MOSES
ABSENT: BOARD MEMBERS: NONE
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