HomeMy WebLinkAboutResolution No. 91-R780 9
RESOLUTION NO. 91-R78
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
APPROVING THAT CERTAIN AGREEMENT ENTITLED
"OWNER PARTICIPATION AGREEMENT BY AND
BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY
OF AZUSA AND ARTHUR AND BERNADINE ANDREWS"
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 Arthur and Bernadine Andrews ("Andrews") have
negotiated a proposed Owner Participation Agreement for the 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 Owner Participation 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 fair market value,
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 value is
necessary to revitalize the project area and the actual purchase price of the
property is within the range of values of comparable properties in the area.
SECTION 2. The Board of Directors of the Redevelopment Agency of the
City of Azusa hereby approves that certain agreement entitled "Owner Participation
Agreement" By and Between the Redevelopment Agency of the City of Azusa and
Andrews dated as of 12/16/91 in substantially the form attached hereto as Exhibit "A."
SECTION 3. The Secretary shall certify the adoption of this resolution.
PASSED, APPROVED
December '1991.
AND ADOPTED this 16th
day of
0
I HEREBY CERTIFY that the 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 16th . day of December 1991 by the following vote of the
Board:
AYES: BOARDMEMBERS:,STEMRICH,: NARANJO, ALEXANDER;.:: MOSES
NOES: BOARDMEMBERS: DANGLEIS
ABSENT: BOARDMEMBERS: NONE
Secretary/Dept` Secretary