HomeMy WebLinkAbout2001 088 CC RESO2001 088 CC RESO (Ìì Š ˆ RESOLUTION NO. 2001-088
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
BALDWIN PARK APPROVING THAT CERTAIN
AGREEMENT ENTITLED DISPOSITION AND
DEVELOPMENT AGREEMENT BY AND BETWEEN THE
REDEVELOPMENT AGENCY OF THE CITY OF BALDWIN
PARK AND LEWIS INVESTMENT COMPANY, LLC, A
CALIFORNIA CORPORATION"
WHEREAS, the City of Baldwin Park City") and Lewis Investment Company.
LLC Developer") desire to enter into a Disposition and Development Agreement
DDA") regarding the development and sale of an approximately 21 5-acre Agency-
owned site bordered by Big Dalton to the west, Merced Avenue to the north, Puente
Avenue to the east and the 1-10 San Bernardino Freeway to the south the Property");
WHEREAS, on August 15, 2001, the City Council conducted a public hearing,
pursuant to California Health and Safety Code 33431 and 33433;
WHEREAS, the Property is located within the Sierra Vista Redevelopment
Project Area, whereby the proposed development will further objectives of the Project
Area.
THE CITY COUNCIL OF THE CITY OF BALDWIN PARK DOES HEREBY RESOLVE
AS FOLLOWS:
SECTION 1. The city council of the City of Baldwin Park hereby finds,
determines, and declares as follows:
A. The Agency staff and Lewis Investment Company, LLC have negotiated a
proposed Disposition and Development Agreement Agreement") for the acquisition
and sale of certain property in the 21.5-Acre 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 Agreement pursuant to the requirements of Health and
Safety Code Section 33433 and other applicable laws 33343 Report").
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 and
Safety Code Section 33433 and other applicable laws.
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D. Although the sale price of the property may be less than the Agency
expenditures in acquiring and improving it as more particularly set forth in the 33343
report, the City Council specifically find, in accordance with the authority of Health and
Safety Code Section 33433, that said difference is necessary to effectuate the
provisions of the Sierra Vista Project Area Redevelopment Plan in that said difference in
cost is necessary to revitalize the Project Area and the community, and therefore the
actual purchase price of the Property reflects reasonable the reasonable fair reuse
value of the property given the restrictions imposed by the Agreement.
E. The Agency and the City shall recoup some or all of the difference over
the time period set forth in the Agreement by substantial increases in tax increment
revenues and other municipal revenues, which will be directly attributable to this
Agreement.
F. The public improvements to be installed and constructed pursuant to the
Agreement are of benefit to the Project Area and the immediate neighborhood in which
the Property is located and no other reasonable means of financing such improvements
are available to the community.
SECTION 2. The City hereby approves that certain Agreement entitled
Disposition and Development Agreement By and Between the Redevelopment Agency
of the City of Baldwin Park and Lewis Investment Company, LLC, a California
Corporation" in substantially the form as submitted and attached hereto as Exhibit A".
SECTION 3. The Chief Executive Officer, or her designee, is hereby authorized
to execute on behalf of the City Council all necessary documents for the sale and
transfer of the Property, consistent with the terms of the Agreement.
SECTION 4. The Secretary is directed to attest to the execution of the
Disposition and Development Agreement.
SECTION 5. The Secretary shall certify to the passage and adoption of this
Resolution, and it shall thereupon take effect and be in full force.
PASSED, APPROVED AND ADOPTED this 3rd day of October. 2001
hfenuelLozano,Wayor
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ATTEST:
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF BALDWIN PARK
ss.
I, ROSEMARY RAMIREZ, Chief Deputy City Clerk of the City of Baldwin Park, do
hereby certify that the foregoing Resolution 2001-078 was duly and regularly approved
and adopted by the City Council of the City of Baldwin Park, at a regular meeting
thereof, held on the 3rd day of October, 2001 by the following vote of the Board:
AYES:
NOES:
ABSENT:
ABSTAIN;
COUNCILMEMBERS:
COUNCILMEMBERS:
COUNCILMEMBERS:
COUNCILMEMBERS;
Marlen Garcia, Ricardo Pacheco, Mayor
Pro Tern Linda Gair and Mayor Manuel
Lozano
Bill Van Cleave
None
None
Rosemary MCESmjcez, CMC
Chief Deputy City^Clerk
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