HomeMy WebLinkAbout85-108 - Approving Sale of Land in the Downtown Redevelopment Area to Lincoln Park MesaRESOLUTION NO. 85-108
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA APPROVING THE SALE OF CERTAIN PROPER-
TIES WITHIN THE COSTA MESA DOWNTOWN REDEVELOPMENT
PROJECT AREA TO LINCOLN PARK MESA; APPROVING THE
OWNER PARTICIPATION AGREEMENT PERTAINING THERETO.
WHEREAS, the Costa Mesa Redevelopment Agency, City of Costa Mesa,
California, (the "Agency") is engaged in activities necessary to carry out
and implement the Redevelopment Plan for the Costa Mesa Downtown Redevelop-
ment Project Area; and
WHEREAS, in order to carry out and implement such Redevelopment Plan,
the Agency proposes to enter into an Owner Participation Agreement (the
"Agreement") with Lincoln Park Mesa (the "Participant") for the sale of a
Sales Parcel within a development site (the "Site") for the development
and operation of a multi -family rental housing development with the neces-
sary parking and landscaping by the Participant (all as described in the
Agreement) in the Costa Mesa Downtown Redevelopment.Project Area; and
WHEREAS, the Participant has submitted to this City Council copies of
said proposed Agreement in a form desired by the Participant; 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 the Sales Parcel within the Site, having duly published
notice of such public hearing and made copies of the proposed Agreement
available for public inspection and comment; and
WHEREAS, the City Council 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 interests of the City of Costa
Mesa 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 City Council of the City of
Costa Mesa, California, 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 the Sales Parcel and to other matters per-
taining to this transaction, and that all such oral and written
objections are hereby overruled.
2. The City Council hereby finds and determines that the considera-
tion to be paid by the Participant for the purchase of the Sales
Parcel is not less than fair market value in accordance with the
covenants 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 Downtown
Redevelopment Project.
3. The sale of the Sales parcel 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 City Clerk.
The foregoing resolution was regularly introduced and adopted at an
adjourned regular meeting of the City Council of the City of Costa Mesa
duly held on the 18th day of December, 1985.
PASSED AND ADOPTED this 18th day of December, 1985.
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ATTEST:
in -y Clerk of the City of Cor
o Mesa
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. 108 was duly and regularly passed and adopted by the
said City Council at an adjourned regular meeting thereof, held on the 18th
day of December, 1985.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal
of the City of Costa Mesa this 19th day of December, 1985.
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City Clerk and ex -officio Clerk o he
City Council of the City of Cost sa