HomeMy WebLinkAboutResolution No. 3906 RESOLUTION NO. 3906
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
REPEALING RESOLUTION NO. 3897 AND MAKING THE FINDINGS
REQUIRED UNDER SECTION 33433 OF THE CALIFORNIA HEALTH AND
SAFETY CODE WITH RESPECT TO THE DISPOSITION AND DEVELOP-
MENT AGREEMENT WITH REPUBLIC DEVELOPMENT COMPANY.
WHEREAS, the Redevelopment Plan for the Downey Redevelopment Project
has been duly adopted; and
WHEREAS, the Disposition and Development Agreement attached hereto as
Attachment "4" has been prepared for purposes of carrying out said Redevelop-
ment Plan; and
WHEREAS, a public hearing has been duly held pursuant to Section 33433
of the California Health and Safety Code;
NOW THEREFORE, the City Council of the City of Downey does hereby resolve
and determine as follows:
SECTION 1. The City Council hereby repeals Resolution No. 3897 which
was adopted on December 9, 1980.
SECTION 2. The City Council finds and determines that the consideration
being received by the Community Development Commission for the sale of land to
Republic Development Company pursuant to and in accordance with the covenants
and conditions governing such sale as contained in the Disposition and Develop-
ment Agreement, Attachment "4 ", is less than fair market value and necessary to
effectuate the Downey Redevelopment Plan.
SECTION 3. The City Council, therefore, approves the sale of land
pursuant to the terms and conditions set forth in the Disposition and Development
Agreement and authorizes the Community Development Commission to execute said
Agreement with Republic Development Company.
PASSED, APPROVED AND ADOPTED this 13th day of January, 1981.
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,.._......:// , Theodore H. Jackman, Mayor
ATTEST:
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Robert L. Shand, City Clerk
I hereby certify that the foregoing Resolution was adopted by the City Council
at a regular meeting thereof held on the 13th day of January, 1981 by the
following vote:
AYES: 5 Councilman: Swearingen, Mackaig, Quinn, Cormack, Jackman
NOES: 0 Councilman: None
ABSENT: 0 Councilman: None
f. 6
Robert L. Shand, City Clerk