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HomeMy WebLinkAboutRedevelopment Agency - 292 RESOLUTION NO. 2 92- ' A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH APPROVING AN AMENDED AND RESTATED DISPOSITION AND DEVELOPMENT AGREEMENT WITH MAYER FINANCIAL, LTD., FOR THE SALE AND LEASE OF LAND AND THE CONSTRUCTION THEREON OF IMPROVEMENTS FOR HOTEL AND RESIDENTIAL USES WHEREAS, the Redevelopment Agency of the City of Huntington Beach(the "Agency") is engaged in activities necessary to carry out and implement the Redevelopment Plans for the Merged Redevelopment Project Areas of the City of Huntington Beach (collectively the "Redevelopment Plan"); and In order to carry out and implement the Redevelopment Plan, the Agency proposes to enter into an Amended and Restated Disposition and Development Agreement(the "Agreement") with MAYER FINANCIAL,LTD., (the "Developer"),which establishes terms and conditions (1) for the Agency to sell to Developer certain real property referred to in the Agreement and hereinafter as "Parcel B" and for Developer to construct thereon improvements for residential uses as specified in the Agreement; and(2) for the Agency to lease to Developer certain real property referred to in the Agreement and hereinafter as "Parcel A" and "Parcel C" and for Developer to construct thereon improvements for hotel and residential uses as specified in the Agreement; and The Developer has submitted to the Agency and the City Council copies of said proposed Agreement in a form desired by Developer; and Pursuant to the California Community Redevelopment Law(California Health and Safety Code, Section 33000 et sue.)the Agency and the City Council held a joint public hearing on the Agreement, having duly published notice of such public hearing and having made copies of the proposed Agreement and other reports and documents (including the summary referred to in Section 33433) available for public inspection and comment; and The Agency has duly considered all terms and conditions of the proposed transaction, and believes that it is in the best interests of the Project area and 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 law and requirements; NOW, THEREFORE, BE IT RESOLVED by the Community Redevelopment Agency of the City of Huntington Beach as follows: 1 SF-98Resolution:MayerDDA RLS 98-585 09/11/98-#1 1. The Agency has received and heard all oral and written objections to the proposed Agreement and to this transaction, and all such oral and written objections are hereby overruled. 2. The Agency hereby-finds and determines that the consideration to be paid by Developer for the purchase of Parcel B and the lease of Parcel A and Parcel C is not less than the fair reuse value at the uses and with the covenants and conditions and development costs authorized by the sale and leases. 3. The Agency hereby finds and determines that the sale of Parcel B and the lease of Parcel A and Parcel C pursuant to the Agreement will assist in the elimination of blight. 4. The Agency hereby finds and determines that the sale of Parcel B and the lease of Parcel A and Parcel C pursuant to the Agreement is consistent with the implementation plan adopted pursuant to Section 33490. 5. The Agency hereby finds and determines that the Agency's use of its authority under Section 33421 in carrying out the provisions of the Agreement is necessary to effectuate the purposes of the Redevelopment Plan. 6. The proposed Agreement is hereby approved in substantially the form presented at this meeting or with such changes as may be approved by the Executive Director of the Agency. 7. The Chairman of the Agency and the Executive Director of the Agency are hereby authorized to execute the Agreement on behalf of the Agency, in substantially the form presented to this meeting, or with such changes as may be approved by the Executive Director of the Agency,provided that the City Council has first approved the Agreement. Execution by the Executive Director shall constitute conclusive evidence of the Executive Director's approval of such changes. A copy of the Agreement when executed by the Agency shall be placed on file in the office of the Secretary of the Agency as Document No. 8. The Executive Director of the Agency (or his designee) is hereby authorized, on behalf of the Agency,to sign all documents (including but not limited to grant deeds) necessary and appropriate to carry out and implement the Agreement, and to administer the Agency's obligations, responsibilities and duties to be performed thereunder. 2 SF-98Resolution:MayerDDA RLS 98-585 09/11/98-#1 a9a PASSED AND ADOPTED by the Redevelopment Agency of the City of Huntington Beach at a regular meeting thereof held on the 14th . day of September , 1998. A. Chairman ATTEST:_ APPROVED AS TO FORM A e cy rk Age y Attorney . . = Kane, Ballmer& Be an Special Counsel REVIEWED.AND'APPROVED: INITIATED AND APPROVED: JAJ Executiv irector Director of EconorA6 Development 3 SF-98Reso1ution:MayerDDA RLS 98-585 09/11/98-#1 Res. No. 292 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 an adjourned regular meeting of said Redevelopment Agency held on the 14th day of September, 1998 and that it was so adopted by the following vote: AYES: Harman, Green, Dettloff, Bauer NOES: None ABSENT: Julien, Sullivan, Garofalo ABSTAIN: None Clerk of the Fedevelopme Agency of the City of Huntington Beach, Ca.