HomeMy WebLinkAbout94-005 - ResolutionsRESOI/3TIONNO. 94-005
A RESOLUI~ON OF THE CITY OF RANCHO ~APPROVING
THE SALE OF C~REAIN REAL PRDP~TY ~AT 9901 FERC~
BOULEVARD ("PRDPERPf"), IN ~HE CITY OF RANO{D O3CAMONGA,
EX~/IITON OF THE DISPOSITION AND DEVELOPM~qT AGRR~]~IqT,
Recitals
(i)
~ne C~tm~nity Redevelo~ Law of the State of California
(Health and Safety COde Sections 33000 et seq. ), among other
provisions granting powers to __~_~lc~ment agencies,
contains Section 33433 which provides that prior to the sale
of any property acquired with tax increment moneys, the sale
must be approved by the legislative body by resolution after
public hearing.
(ii)
The officially adopted Rancho B~development Plan of the
Rancho Cucamonga Redevelopment Agency ("Agency" hereinafter)
provides for the development of affordable housing.
(iii)
The Rancho Cucamonga Redevelopment Agency is the owner of
certain real property located at 9901 Feron Bouldevard, in
the City of Rand~o Cucamonga ("Property" herinafter).
(iv)
The Rancho Cucamonga Redevelopment Agency has received a
proposal to purchase the Property frc{n North Town Housing
Development Corporation, a California Non-Profit Corporation
for the purpose of developing approximately 88 units of
affordable housing.
(v)
Pursuant to California Health and Safety Code Section 33433,
the Agency has prepared a report s~,mmrizing the cost of the
sale of the Property.
(vi)
Pursuant to California Health and Safety Code Section 33433,
the City of Rancho Cucamongaconductedadulynotioedpublic
hearing on January 19, 1994, on the subject of the Agency's
sale of the Property.
B. Resolution
NOW, ~5~%1RE, be it found, determined and resolved by the City Council of
the City of Rancho Cucamonga as follows:
The facts set forth in the Recitals, Part A, of this
Resolution aretrue and correct.
e
The City Council hereby specifically finds and determines
that the sale of the Property by and through the Agency's
funding will be of benefit to the Agency's Rancho
Redevelopment project.
3e
The City Council hereby specifically finds and determines
Resolution No. 94-005
Page2
that the sale of the Property will assist in the el'Lmination
of blight within the Rancho Redevelopment Project by
provid/ng affordable housing and serving as a catalyst for
further revitalization of the North Town neighborhood.
The City Council bmreby specifically finds and determines
that the total ccansidertion for the property is not less
than the fair reuse value at the use and with the covenants
and conditions and development costs authorized by the
Disposition and Development ~z3reement.
The City Council hereby approves the sale of the Property by
the Agency to the North Town Housing Development
Corporation, approves the execution of the Disposition and
Develo~ Agreement by the Agency, and authorizes the
Agency to take any and all actior~ necessary to complete the
sale.
So
The City Clerk shall testify to the adoption of this
P~solution.
PASSED, ~, and ADOPlOD this 19th day of January, 1994.
Alexarder, Buquet, Gutierrez, Stout, Williams
NOES: None
ABS~qT: None
City Clerk
I, D~]3RA J. ADAMS, CITY cr.FRK of the City of Rancho Cucamonga, California, do
hereby certify that the foregoing Resolution was duly passed, ap~, and
adopted by the City Council of t_he City of Rancho Cucamonga, Califcxnia, at a
regular meeting of said City (2Duncil held on the 19th day of Jar~ry, 1994.
Executed this 20th day of Jar~,~ry,
California.
1994, at Rancho Cucam~,
. , City Clerk