HomeMy WebLinkAboutResolution No. 07-R37E
RESOLUTION NO. 07-R37
A RESOLUTION OF THE REDEVELOPEMNT AGENCY OF THE CITY OF
AZUSA APPROVING A PURCHASE AND SALE AGREEMENT BY AND
BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
AND MR. HOGOP KARAKIN KOUYOUMDJIAN AND CHRISTIANE
MARY KOUYOUMDJIAN FOR THE SALE OF THE REAL PROPERTY
LOCATED 850 WEST 10TH STREET IN THE CITY OF AZUSA AND
APPROVING A SUMMARY REPORT PURSUANT TO CALIFORNIA
REDEVELOPMENT LAW SECTION 33433
WHEREAS, the Redevelopment Agency of the City of Azusa (the "Agency") has the
authority to acquire and dispose of real property pursuant to Health and Safety Code
Sections 33391, 33334.2, and 33430; and
WHEREAS, the Agency owns certain real property located at 850 West I U Street
(the "Property") as described in a purchase and sale agreement ("Agreement") attached
hereto as Exhibit C; and
WHEREAS, the Agency does not anticipate utilizing Tax Increment in the
transaction or providing any financial assistance; and
WHEREAS, the Agency considered and adopted a Summary Report pursuant to
Section 33433 in the event that the Agency uses tax increment directly or indirectly in the
future in any transactions; and
WHEREAS, the Agency desires to sell and Mr. Hagop Karakin Kouyoumdjian and
Christiane Mary Kouyoumdjian (the "Buyer") desires to buy the Property in the amount of
$721,033.26, which represents the fair market value for the Property and the Buyer's
appropriate share of the subdivision cost; and
WHEREAS, the Agency has undertaken the subdivision of the Property through
Tentative Parcel Map No. 69546 to create the Parcel that is the subject parcel of the
Purchase and Sale Agreement between the Agency and Buyer; and
WHEREAS, the approval of the Purchase and Sale Agreement is subject to the
approval of the Final Parcel Map by the City Council at the October 15"' Council Meeting;
and
WHEREAS, the parties have negotiated the Purchase and Sale Agreement, which
set forth the conditions and terms of the transaction
NOW, THEREFORE, THE REDEVELOPEMNT AGENCY OF THE CITY AZUSA DOES
RESOLVE AS FOLLOWS:
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,Section 1. The Agency hereby approves the Purchase and Sale Agreement
attached hereto as Exhibit C and authorizes the Executive Director or his designee to
execute said Agreement on behalf of the Agency and further authorizes the Executive
Director to take all other action necessary or desirable to carry out the Agreement.
Section 2. That the City Clerk shall certify to the adoption of this resolution.
Section 3. This resolution shall take effect immediately upon its adoption.
PASSED, APPROVED AND ADOPTED this 15th day of October, 2007.
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16seph ft. Rocha, Chairman
I HEREBY CERTIFY that the foregoing resolution No. 07-R37, was duly adopted by the
City of Azusa at a regular meeting thereof held on the 15th day of October, 2007.
AYES: AGENCY MEMBERS: GONZALES, CARRILLO, MACIAS, HANKS, ROCHA
NOES: AGENCY MEMBERS: NONE
ABSTAIN: AGENCY MEMBERS: NONE
ABSENT: AGENCY MEMBERS: NONE
Vera Mendoza, Secretary li2O�