HomeMy WebLinkAbout84-94 - Approving Sale of Property to Pacific Federal Savings & LoanRESOLUTION NO. 84-94
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, APPROVING THE SALE OF
CERTAIN PROPERTIES WITHIN THE COSTA MESA DUARTOWN
REDEVEIDpMENT PROJECT AREA TO PACIFIC FEDERAL
SAVINGS AND LOAN ASSOCIATION; APPROVING THE DIS-
POSITION AND DEVELOPMENT AGREMNT PERTAINING
THERETO.
WHEREAS, the Costa Mesa Redevelopment Agency, City of Costa Mesa,
(the "Agency") is engaged in activities necessary to carry out and imple-
ment the Redevelopment Plan for the Costa Mesa Downtown Redevelopment
Project Area; and
WHEREAS, in order to carry out and implement such Redevelopnent Plan
the Agency proposes to enter into a Disposition and Development Agreement
(the "Agreement") with Pacific Federal Savings and Loan Association (the
"Developer") for the sale of Parcels 1 and 2 for the development and oper-
ation of a retail shopping center with the necessary parking and landscap-
ing by the Developer (all as described in the Agreement) in the Costa Mesa
Downtown Redevelopment Project Area; and
WHEREAS, the Developer has submitted to this Agency copies of said
proposed Agreement in a forma desired by the Developer; and
WHEREAS, pursuant to the California Community Redevelopment Law
(California Health and Safety Code, Section 33000 et seq.) the Agency and
this City Council held a joint public hearing on the Agreement and the
proposed sale of Parcels 1 and 2, having duly published notice of such
public hearing and made copies of the proposed agreement, available for
public inspection and comment; and
WHEREAS, the Agency has duly considered all terms and conditions of
the proposed Agreement and believes that the redevelopment of the real
property pursuant thereto is in the best interest of the City of Costa
Mesa and the health, safety, morals and welfare of its residents, and in
accordance with the public purposes and provisions of applicable State and
local law and requirements;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Costa Mesa, as follows:
1. The City Council recognizes that it has received and heard all
oral and written objections to the proposed Agreement, and to
the proposed sale of Parcels 1 and 2 and to other matters per-
taining to this transaction, and that all such oral and written
objections ar hereby overruled.
2. The City Council hereby finds and determines that the consider-
ation to be paid by the Developer for the purchase of Parcels 1
and 2, is not less than fair market value in accordance with the
convenants and conditions governing such sale. The City Council
hereby further finds and determines that all consideration to
be paid under the Agreement is an amount necessary to effectuate
the purposes of the Redevelopment Plan for the Costa Mesa Down-
town Redevelopment Project.
3. The sale of Parcels 1 and 2 and the proposed Agreement which
establish the terms and conditions therefor, are hereby approved.
4. The City Council hereby authorizes the City Clerk to deliver a
copy of this resolution to the Executive Director and members of
the Agency. A copy of the Agreement, when executed by the Agency,
shall be placed on file in the office of the Clerk.
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PASSED AND ADOPTED this 10th day of July,
May r of the City of Costa Mesa
ATTEST:
&-ji -I-A. J (�' (;�41' . 'I I j
City Clerk of the City of Costa r
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
I, EILEEN P. PHINNEY, City Clerk and ex -officio Clerk of the City
Council of the City of Costa Mesa, hereby certify that the above and fore-
going Resolution No. 84-94 was duly and regularly passed and adopted by
the City Council at a special meeting thereof, held on the 10th day of
July, 1984.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal
of the City of Costa Mesa this 11th day of July, 1984.
Ci y Clerk and ex -officio Clerkof t
City Council of the City of Costa Me
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