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HomeMy WebLinkAboutResolution No. 5561 RESOLUTION NO. 5561 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY APPROVING THAT CERTAIN AGREEMENT ENTITLED "DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF DOWNEY AND P.T. AUTOMOTIVE INC., d /b /a PENSKE TOYOTA" DATED AS OF JUNE 9, 1992 FOR THE REDEVELOPMENT OF CERTAIN PROPERTY WITHIN THE DOWNEY REDEVELOPMENT PROJECT AREA AND GENERALLY KNOWN AS 9200 FIRESTONE BOULEVARD, AND ALSO APPROVING GROUND SUBLEASE I WITH PENSKE REALTY, INC. AND GROUND SUBLEASE II WITH P.T. AUTOMOTIVE d /b /a PENSKE TOYOTA IN CONNECTION THEREWITH THE CITY COUNCIL OF THE CITY OF THE CITY OF DOWNEY DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The City Council of the City of Downey hereby finds, determines and declares that: A. The project proposed by P.T. Automotive d /b /a Penske Toyota ( "Developer ") pertains to property located at 9200 Firestone Boulevard in the City of Downey ( "Site ") which is within the boundaries of the Downey Redevelopment Project Area ( "Project Area "). B. The project to be redeveloped on the Site pursuant to this Agreement is the renovation of an automobile dealership on the Site which is now closed. C. Pursuant to the provisions of Health & Safety Code Sections 33430, 33431 and 33433, the Commission duly noticed and held a joint public hearing before the Board of Directors of the Community Development Commission and the City Council of the City of Downey concerning the approval of the proposed Disposition and Development Agreement and the approval of Ground Sublease I and Ground Sublease II in connection therewith. D. Pursuant to Health & Safety Code Section 33433, the Commission directed and has prepared a comprehensive report summarizing and analyzing the proposed Disposition and Development Agreement, and which report specifically contains the information required by Section 33433, and has been prepared within the time limit set forth therein. 18311.1 6/9/92 E. The sublease of the Site to Developer as proposed by the Disposition and Development Agreement may be at less than fair market rental value based on Commission analysis and, therefore, the Board of Directors specifically finds in accordance with the authority of Health & Safety Code Section 33433 that said difference is necessary to effectuate the provisions of the Downey Redevelopment Plan ( "Plan "), and the difference in rental value is necessary to allow development to come to the Project Area, increase employment opportunities within the Project Area and to otherwise accomplish the purposes and goals of the Plan. F. The Commission and the City shall recoup the difference in sublease payments and fair market rental value by increasing tax increment revenues and sales tax revenues due to and directly attributable to this agreement. G. The Commission is specifically authorized by Health & Safety Code Sections 33430, 33431 and 33433, and other applicable law, to enter into this Disposition and Development Agreement. H. With respect to the public facilities and improvements to be constructed by or for the Commission, said improvements are of benefit to the Project Area and the immediate neighborhood in which the Site is located and no other reasonable means of financing such facilities and improvements are available to the community. I. Completing the redevelopment on the Site pursuant to this Agreement is in the vital and best interest of the City and the health, safety, and welfare of its residents, and in accord with the public purposes and provisions of applicable state and local laws. J. This Agreement pertains to and affects the ability of all parties to finance and carry out their statutory purposes and to accomplish the goals of the Plan and is intended to be a contract within the meaning of Government Code Section 53511. Section 2. This project is exempt from the provisions of the California Environmental Quality Act pursuant to 14 California Code of Regulations Section 15301(e) because it is a small addition to an existing structure. Additionally, the Community Development Commission and the City Council approved an environmental impact report which addressed environmental issues with respect to the Plan and Project Area, including the uses proposed here in the area proposed, when the Plan and amendments 18311.1 6/9/92 -2- thereto were approved. Accordingly, pursuant to the provisions of 14 California Code of Regulations Section 15180, the EIR previously prepared and approved for the Project Area and Plan is sufficient for this project, in addition to the fact the project is categorically exempt from CEQA as discussed above. The Executive Director is hereby ordered and authorized to execute and file the Notice of Exemption in the form required by law. The Executive Director is further directed to sign and file two copies of a Certificate of Fee Exemption (DFG 753.5 - 1/81) with the County Clerk of the County of Los Angeles. Section 3. In accordance with and subject to the requirements of Health and Safety Code Section 33434, the City Council of the City of Downey hereby approves of that certain Disposition and Development Agreement entitled "Disposition and Development Agreement Between the Community Development Commission of the City of Downey, a public body corporate and politic, and P.T. Automotive Inc., d /b /a Penske Toyota" dated as of June 9, 1992 and authorizes the Commission to enter into it in the form attached hereto as Exhibit A. Section 4. In accordance with and subject to the requirements of Health and Safety Code Section 33434, the City Council of the City of Downey hereby approves of that certain ground sublease entitled "Ground Sublease I" between the Community Development Commission of the City of Downey, a public body corporate and politic, and Penske Realty, Inc. dated as of June 9, 1992 and authorizes the Commission to enter into it in substantially the form attached hereto as Exhibit B. Section 5. In accordance with and subject to the requirements of Health and Safety Code Section 33434, the City Council of the City of Downey hereby approves of that certain ground sublease entitled "Ground Sublease II" between the Community Development Commission of the City of Downey, a public body corporate and politic, and P.T. Automotive Inc., d /b /a Penske Toyota dated as of June 9, 1992 and authorizes the Commission to enter into it in substantially the form attached hereto as Exhibit C. PASSED, APPROVED AND ADOPTED this 9 th day of June , 1992. ATTEST: rrl CLERK 18311.1 / 6/9/92 / - 3 - I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council of the City of Downey at a regular meeting thereof, held on the 9th day of June, 1992, by the following vote of the Council: AYES: 5 COUNCIL MEMBERS: Cormack, Boggs, Riley, Brazelton, Hayden NOES: 0 COUNCIL MEMBERS: None ABSENT: 0 COUNCIL MEMBERS: None ABSTAIN: 0 COUNCIL MEMBERS: None ..,..._ 4/ p , CITY CLERK -4-