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HomeMy WebLinkAboutRedevelopment Agency - 263 RESOLUTION NO. 263 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH APPROVING A THIRD AMENDMENT TO THE OWNER PARTICIPATION AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH AND ABDELMUTI DEVELOPMENT COMPANY WHEREAS, the Redevelopment Agency of the City of Huntington Beach (the "Agency") and Abdelmuti Development Company (the "Participant") entered into a certain Owner Participation Agreement, dated as of May 28, 1991 (the "OPA") for the acquisition and imposition of certain portions of the Project Area for the purpose of constructing a office/commercial use building and other public improvements; and The Agency amended the Agreement on November 4, 1991, and again on August 31, 1992; and The Participant and the Agency are proceeding to perform their respective obligations pursuant to the OPA; and The Participant and the Agency desire to approve a Third Amendment to the OPA (in the form attached hereto as Attachment "A" and incorporated herein) which constitutes the "Amendment" to supplement the terms of the OPA; and The Agency and the City Council of the City of Huntington Beach (the "City Council") have conducted a duly noticed joint public hearing regarding the proposed acquisition and disposition of real property in accordance with California Health & Safety Code Sections 33431 and 33433; and 1 5/abdelOPA/1 1/10/94 The staff report pertaining to the Amendment, which has been on display prior to the joint public hearing in accordance with Section 33433 of the California Health & Safety Code contains a detailed description of the provisions of the Amendment; NOW, THEREFORE, the Agency does resolve as follows: Section 1: The Agency finds and determines that EIR 82-2, certified and approved, including the finding of overriding considerations by the City Council in its position as the lead agency, is adequate for this project. Section 2: The Agency finds and determines, based upon the testimony and information presented during the public hearing with respect to the Amendment, that the consideration for the real property to be transferred to the Participant by deed is less than the fair market value thereof determined at the highest use permitted under the Redevelopment Plan, but that such lesser consideration is necessary to secure the commitment of Participant to execute the Amendment, which Amendment will significantly benefit the Agency and the community by alleviating blighting conditions, generating revenues and providing for high-quality development activities to stimulate the economic enhancement of the Project Area in accordance with the OPA. Section 3: The Agency finds and determines that: (a) the approval of the Amendment will promote the objectives of the Redevelopment Plan and promote the health, safety and welfare of the citizens of the City of Huntington Beach; and (b) the Amendment is consistent with the orderly development of the improvements to be provided by the Participant pursuant to the OPA. 2 5/abdelOPA/1 1/9/94 Section 4: The Agency approves the Amendment in the form of Attachment "A" and authorizes and directs the Chairman and Secretary of the Agency to execute that Amendment and such other documents as may be determined by the City Attorney to be necessary or appropriate to effectuate the OPA as now amended. PASSED AND ADOPTED by the Redevelopment Agency of the City of Huntington Beach at an adjourned regular meeting thereof held on this 21st day of November , 1994. Chairman ATTEST: APPROVED AS TO FORM: � = Agency Clerk My Counsel 11-► o- REVIEWED AND APPROVED: INITIATED AND APPROVED: « . <<-Ls-9�f Executive Director ����Dire�ctoro%Eco�nomic Development 3 5/abdelOPA/1 1/9/94 Res. No. 263 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) CITY OF HUNTINGTON BEACH ) I, CONNIE BROCKWAY, Clerk of the Redevelopment Agency of the City of Huntington Beach, California, DO HEREBY CERTIFY that the foregoing resolution was duly adopted by the Redevelopment Agency of the City of Huntington Beach at a meeting of said Redevelopment Agency held on the 21st day of November, 1994, and that it was do adopted by the following vote: AYES: Members: Silva, Bauer,Robitaille, Moulton-Patterson, Winchell, Leipzig, NOES: Members: Sullivan ABSENT: Members: None Clerk of the Redevelopment Agency of the City of Huntington Beach, Ca.