HomeMy WebLinkAboutResolution No. 6787RESOLUTION N0. 6787
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AZUSA MAKING CERTAIN FINDINGS WITH RESPECT TO THE
CONSIDERATION TO BE RECEIVED BY THE REDEVELOPMENT
AGENCY OF THE CITY OF AZUSA PURSUANT TO A DISPOSITION
AND DEVELOPMENT AGREEMENT BY THE AGENCY WITH FOREST
CITY DILLON, INC., FOR THE SALE OF CERTAIN REAL
PROPERTY IN THE AZUSA CENTRAL BUSINESS DISTRICT
REDEVELOPMENT PROJECT; APPROVING THE PROPOSED SALE
OF SAID REAL PROPERTY; AND APPROVING THE DISPOSITION
AND DEVELOPMENT AGREEMENT PERTAINING THERETO.
WHEREAS, the Redevelopment Agency of the City of Azusa is
engaged in activities necessary to execute and implement the
Redevelopment Plan for the Azusa Central Business District Redevelop-
ment Project ("Project"); and
, WHEREAS, in order to implement the Redevelopment Plan, the
Agency proposed to sell certain real property (the "Site"), in the
Project area, pursuant to the terms and provisions of a Disposition
and Development Agreement (the "Agreement"), which property is
described in said Agreement; and
WHEREAS, Forest City Dillon, Inc. has submitted to the Agency
a written offer in the form of said Agreement to purchase the Site; and
WHEREAS, the proposed Agreement contains all the provisions,
terms, conditions and obligations required by state and local law; and
WHEREAS, the Developer posse's`ses 'the qualifications and
financial resources necessary,to acquire and insure development of the
Site, in accordance with the purposes and olSjIectives of the Redevelop-
ment Plan; and I
WHEREAS, the Agency{has,prepared; and the City Council has
reviewed and considered,- a'surimary setting forth the cost of the
Agreement to the Agency, the estimated value of the interests to be
conveyed determined at the highest uses permitted under the Redevelop-
ment Plan, and the purchase price, and made said summary available
for public inspection in accordance with the California Community
Redevelopment Law; and
WHEREAS, the City Council has approved the Initial Study of
Environmental Impact prepared by Agency staff, and has determined
that a subsequent environmental impact report need not be prepared
in connection with the proposed sale and development of the Site; and
WHEREAS, pursuant to provisions of the California Community
Redevelopment Law, the Agency and the'City Council held a duly
noticed joint public hearing on the proposed sale of the Site and
the.proposed Agreement; and
WHEREAS, the City Council has considered all terms and
conditions of the proposed sale, and the redevelopment of the Site
pursuant to the proposed Agreement is in the best interests of the
City and the health, safety, morals and welfare of its residents, and
in accord with the public purposes and provisions of applicable
State and local laws.
NOW, THEREFORE, the City Council of the City of Azusa does
resolve as follows:
SECTION 1. The City Council hereby finds and determines that
the consideration for sale of the certain Site pursuant to the
Disposition and Development Agreement between the Agency and Forest
City Dillon, Inc, is not less than fair market value in accordance
with the covenants and conditions governing such sale.
SECTION 2. The sale of the Site by the Agency to Forest City
Dillon, Inc. and the Disposition and Development Agreement which
establishes the terms and conditions for the sale and development of
such Site, are hereby approved.
APPROVED AND ADOPTED this 4th day of June, 1979.
MAYOR
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the City Council of the City of Azusa at a regular meeting
thereof, held on the 4th day of June, 1979, by the following vote of
the Council:
AYES: COUNCILMEN: Decker, Fry, Cruz, Moses, Solem
NOES: COUNCILMEN: None
ABSENT: COUNCILMEN: None
/ CITY CLERK