HomeMy WebLinkAboutResolution No. 4918 RESOLUTION NO. 4918
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF DOWNEY APPROVING THE CONVEYANCE BY MEANS OF
SALE OF CERTAIN REAL PROPERTY PURSUANT TO AN
OWNER PARTICIPATION AGREEMENT BY AND BETWEEN
THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY
OF DOWNEY AND IOWA STREET PROFESSIONAL BUILDING
APPROVING PRELIMINARY ASSESSMENT OF ENVIRONMENTAL
IMPACT AND AUTHORIZING THE EXECUTION OF AN OWNER
PARTICIPATION AGREEMENT.
WHEREAS, the Community Development Commission of the City of Downey
(the "Agency ") is authorized to conduct redevelopment activities within
the Project Area of the Downey Redevelopment Project (the "Project Area "),
which activities include the acquisition and conveyance of real property
for private development; and
WHEREAS, the Agency desires to enter into an Owner Participation
Agreement (the "Agreement ") with Iowa Street Professional Building, a
California limited partnership (the "Developer "), which Agreement provides
for the acquisition and sale of the "Site," which is that certain portion
of the Project Area generally described at 8326 Iowa Street, as set forth
in greater particularity in the Agreement; and
WHEREAS, the Agency and the City Coun cil of the City ("City Council ")
have conducted a duly noticed joint public hearing regarding the proposed
purchase in accordance with California Health and Safety Code Sections
33431 and 33433; and
WHEREAS, the staff report pertaining to the Agreement which has
been on display prior to the joint public hearing in accordance with Section
33433 of the California Health and Safety Code, contains a detailed
description of the provisions of the Agreement; and
WHEREAS, the Commission has received and considered the report
of said Commission staff on the proposed development to be carried out
pursuant to said Disposition and Development Agreement and the Negative
Declaration on such proposed development, and as a result of its said
consideration and evidence presented at the hearing on the same matter,
this Commission has determined that said project will not have any
significant effect on the environment other than as identified in the
Environmental Assessment (Initial Study) prepared for the subject project;
NOW, THEREFORE, the City Council of the City of Downey does hereby
resolve as follows:
SECTION 1. The Environmental Determination (Negative Declaration)
prepared or this project indicates that the proposed development will not
have a significant effect on the environment, and such is hereby certified.
SECTION 2. The City Council finds and determines, based upon the
testimony and information presented during the public hearing with respect
to the Agreement, that the consideration for the real property to be
transferred to the Developer by deed is greater than the fair market value
thereof determined at the highest use permitted under the Redevelopment
Plan, and the Agency's contribution is necessary to secure the commitment
of Developer to execute the Agreement, which Agreement will significantly
benefit the Agency and the community by alleviating blighting conditions,
generating revenues, promoting owner participation, and providing for high
quality development activities to stimulate the economic enhancement of
the Project Area.
SECTION 3. The City hereby approves hereb a roves the Agreement and
all of its provisions including without limitation the attachments thereto,
and authorizes the Mayor, City Manager and the City Clerk to execute all
documents referenced in the Agreement or otherwise deemed by the City Manger
to be necessary to effectuate the provisions of the Agreement.
RESOLUTION
IOWA STREET PROFESSIONAL BUILDING
PAGE 2
APPROVED AND ADOPTED THIS �5 day of August 1987.
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Diane P. Boggs, Mayor
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HEREBY CERTIFY that the foregoing Resolution was approved and
adopted at a regular meeting of the City Council of the City of Downey
held on the 25 day of August , 1987, by the following vote:
AYES: 4 Council Members: Barb, Cormack, Paul, Boggs
NOES: 1 Council Member: Santangelo
ABSENT: 0 Council Members: None
ABSTAIN: 0 Council Members: None \
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