HomeMy WebLinkAboutResolution No. 07-R430
RESOLUTION NO. 07-R43
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A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF AZUSA APPROVING A PURCHASE AND SALE
AGREEMENT FOR THE PURCHASE OF A PORTION OF
CERTAIN REAL PROPERTY GENERALLY LOCATED AT 152
EAST FOOTHILL BLVD.
WHEREAS, pursuant to the California Community Redevelopment Law (Health &
Safety Code Sections 33000, et seq.) ("CRL"), the City Council of the City of Azusa ("City")
approved and adopted a Redevelopment Plan ("Redevelopment Plan") for the redevelopment
Project Area known as the Merged Central Business District and West End Redevelopment
Project Area ("Project Area"); and
WHEREAS, the Governing Board (`Board) of the Redevelopment Agency of the City of
Azusa ("Agency") is engaged in activities to implement the Redevelopment Plan and
Implementation Plan for the Project Area pursuant to the provisions of the CRL; and
WHEREAS, on January 16, 2007, the Agency approved that certain 2006 Disposition
and Development Agreement (Block 36 Project) with REG Azusa, LLC, a Delaware limited
liability company ("Developer") for the disposition and development of certain real property
("Property") as a mixed-use project ("Project') including 32,500 square feet of commercial
space, sixty-six (66) housing units and a 330 stall subterranean parking structure, as set forth in
the Agreement; and
WHEREAS, the Agency and Developer have negotiated and will consider for adoption
the First Amended and Restated Disposition and Development Agreement ("Agreement'); and
WHEREAS, the Agreement contemplates the Agency acquisition of a portion of the
parcel located at 152 East Foothill Blvd (`Bank of America Lot') as more particularly described
in the Purchase and Sale Agreement; and
WHEREAS, the Bank of America ("Seller") is the current owner of Bank of America Lot
which is more particularly described on the attached Exhibit A; and
WHEREAS, the Property is located within the Project Area; and
WHEREAS, the Seller desire to sell and convey the portion of the Property depicted on the
attached Exhibit B to Agency for a purchase price of Eight Hundred Fifty Thousand Dollars
($850,000) ('Purchase Price"); and
WHEREAS, the Agency and Seller have negotiated the terms and conditions of a
purchase and sale agreement ("Agreement') for the sale and conveyance of the Property from the
Seller to the Agency, a copy of which is attached hereto as Exhibit C; and
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WHEREAS, Agency staff has analyzed the proposed sale price for the .property, completed
all environmental review including a Phase I report, and negotiated the sales price which will be
reimbursed or credited to the City out of Developer funds; and
WHEREAS, Agency staff believes the acquisition by the Agency of the property for the
Block 36 Project is a public use, that the property is necessary for such redevelopment and/or
assemblage and that the assemblage project is designed in a manner consistent with the greatest
public good and least public injury; and
WHEREAS, the Agency is the lead agency concerning the Project pursuant to the
California Environmental Quality Act ("CEQA") and the State CEQA Guidelines; and
WHEREAS, the Agency staff has reviewed the General Plan and Development Code
Environmental Impact Report ("EIR") prepared by the City as well as the Addendum to the
General Plan and Development Code EIR ("Addendum") adopted on May 1, 2006 for this
Project in particular and has determined that the FIR and the Addendum adequately considered
the development of the Project and the impacts of mixed use development in the Project Area
and that no new or additional impacts are associated with the Project and therefore no subsequent
or supplemental review is necessary.
THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The Agency hereby directs staff to file a Notice of Determination
with the Los Angeles County Clerk's office within three (3) calendar days of the adoption of this
Resolution.
SECTION 2. The Agency hereby (i) authorizes the purchase and acquisition of the
Property from the Seller for the Purchase Price, and (ii) approves the Agreement in the form
attached hereto as Exhibit C.
SECTION 3. The Agency hereby authorizes the Agency's Executive Director
(with the concurrence of Agency Counsel) to execute and deliver on behalf of the Agency the
Agreement and such other documents and instruments as may be necessary or convenient in the
furtherance of the actions authorized by this Resolution.
SECTION 4. The Agency hereby declares that a condition precedent to the close
of escrow for the acquisition of the Property shall be the appropriation of funds therefore by the
Agency.
SECTION 5. The Agency Secretary is hereby directed to file a copy of the executed
Agreement with the City Clerk at City Hall.
SECTION 6. Agency Staff is hereby directed to do all that is necessary to effectuate
the intent of the Agreement and consummate the purchase of the Property.
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SECTION 7. The Agency Secretary shall certify the adoption of this Resolution.
APPROVED AND ADOPTED this 19th day ofNovmeber, 2007.
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�ph R. Rocha, Agency Chairperson
ATTEST:
Vera Mendoza, Agency Secre t—
I HEREBY CERTIFY that the foregoing resolution No. 07-R43, was duly adopted by
the Redevelopment Agency of the City of Azusa at a regular meeting held on the 19th day of
November, 2007.
AYES: AGENCY MEMBERS: GONZALES, CARRILLO, MACIAS, HANKS, ROCHA
NOES: AGENCY MEMBERS: NONE
ABSTAIN: AGENCY MEMBERS: NONE
ABSENT: AGENCY MEMBERS: NONE
Vera Mendoza, . gency Secretary ;/
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