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HomeMy WebLinkAbout97-41 - Agreement by and Between the Redevelopment Agency and Plaza Costa Mesa LLCRESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COSTA MESA, CALIFORNIA, MAKING CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION TO BE RECEIVED BY THE COSTA MESA REDEVELOPMENT AGENCY PURSUANT TO SAID AGREEMENT; AND APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY AND PLAZA COSTA MESA, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY. WHEREAS, the Costa Mesa Redevelopment Agency (the "Agency") is engaged in activities necessary to remedy the conditions of blight, creation of employment opportunities, and the well-being of the citizens of the City of Costa Mesa, and to effectuate the Redevelopment Plan (the "Plan") for the Downtown Redevelopment Project Area (the "Project Area") by providing for the development of certain real property located within the boundaries of the Project Area; and WHEREAS, in order to carry out and implement the Plan, the Agency proposes to convey certain real property (the "Property") in the Project Area to Plaza Costa Mesa, LLC, a California limited liability company (the "Developer"), pursuant to the terms and provisions of a proposed Disposition and Development Agreement (the "Agreement"), which Agreement contains a description of said Property and provides for the development thereon of an approximately 21,150 -square -foot building (the "Project") to be used for retail sales; and WHEREAS, as the agency responsible for carrying out the Redevelopment Plan, the Agency has caused to be prepared an initial study covering all activities necessary to the sale and development of the Property and the development thereon of the Project; and WHEREAS, a draft Negative Declaration (the "Draft Negative Declaration") was prepared and circulated pursuant to the California Environmental Quality Act ("CEQA"), and the State and Agency CEQA guidelines, rules, regulations, and procedures adopted pursuant thereto (the "Guidelines");.and WHEREAS, during the environmental assessment process, the Agency has provided the opportunity for citizens, professional disciplines, and public agencies to critically evaluate the environmental documents and the environmental impacts of the proposed Project through public review and comment, and a public hearing; and WHEREAS, the Agency has reviewed and considered comments received during the review period regarding the Draft Negative Declaration; any changes made to the Agency's evaluation of the Project's impact on the environment or to any measures adopted to mitigate the Project's impact on the environment as reflected in the Draft Negative Declaration as revised (the "Negative Declaration") in response to such comments are minor; and WHEREAS, the Developer has submitted to the Agency a written offer in the form of said Agreement as submitted to purchase the Property and to develop the Project; and WHEREAS, the proposed Agreement contains all provisions, terms, conditions, and obligations required by State and local law, and conforms to the implementation plan containing the specific goals and objectives of the Agency for the Project Area; and WHEREAS, the Developer possesses the qualifications and financial resources necessary to acquire and insure the development of the Project in accordance with the purposes and objectives of the Redevelopment Plan; and WHEREAS, the Agency has prepared, reviewed, and considered a summary report 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 Redevelopment Plan, the estimated value of the interest to be conveyed, determined at the use and with the conditions, covenants, and development costs required by the Agreement, the purchase price for the Property, and an explanation of why the sale of the Property will assist in the elimination of blight, and made said summary available for public inspection in accordance with the California Community Redevelopment Law; and WHEREAS, the summary report has been considered by City staff and consultants, and staff and consultants have satisfied the City that approval of the Agreement and development of the Project are in accordance with the law; and WHEREAS, pursuant to the provisions of the California Redevelopment Law, the Agency and the City Council of the City of Costa Mesa have held a duly noticed joint public hearing on the proposed conveyance of the Property and the proposed Agreement; and WHEREAS, the City has duly considered all terms and conditions of the proposed sale and believes that the development of the Project pursuant to the proposed Agreement is in the best interests of the City, and the health, safety, I morals, and welfare of its residents, and is in accordance with the public purposes and provisions of applicable State and local law requirements; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Costa Mesa as follows: 1. The City hereby finds and determines that the sale of the Property will assist in the elimination of blight, and is consistent with the implementation plan adopted by the Agency. 2. The City hereby finds and determines that the consideration to be paid by the Developer for the Property is not less than the fair market value of the Property at its highest and best use in accordance with the Plan. 3. The sale of the Property by the Agency to the Developer and the Disposition and Development Agreement which establishes the terms and conditions for development of the Project are hereby approved by the City. 4. The City is hereby authorized to cooperate with the Agency to implement and carry out the provisions of the Disposition and Development Agreement and to take all steps and to sign all documents and instruments necessary to implement and carry out the Disposition and Development Agreement on behalf of the City. PASSED AND ADOPTED this 12th day of May, 1997. ATTEST: T. Deputy Ci Clerk of the City of Costa Mesa Mayor of the City of 6s Mesa �FTROVED AS TO FORM CITY ATTORNEY STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss CITY OF COSTA MESA ) I, MARY T. ELLIOTT, Deputy City Clerk and ex -officio Clerk of the City Council of the City of Costa Mesa, hereby certify that the above and foregoing Resolution No. 97-41 was duly and regularly passed and adopted by the said City Council at a special joint City Council/Redevelopment Agency meeting held on the 12th day of May, 1997. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of the City of Costa Mesa this 13th day of May, 1997. f T Deputy City lerk and ex -officio Clerk of the City Cou cil of the City of Costa Mesa