HomeMy WebLinkAboutReso 1997-18687 COUNCIL RESOLUTION NO. 18687
(AGENCY RESOLUTION NO. 1541)
JOINT RESOLUTION OF THE CITY COUNCIL AND THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA
MAKING REQUIRED REDEVELOPMENT ACT FINDINGS AND
APPROVING A PURCHASE/SALE AND DEVELOPMENT
AGREEMENT AND JOINT ESCROW INSTRUCTIONS WITH
UNIVERSAL MEMORIAL CENTERS V, INC. WITH RESPECT TO
PROPERTY LOCATED AT 753 BROADWAY, CHULA VISTA, AND
AUTHORIZING THE CHAIRMAN TO EXECUTE SAME
WHEREAS, the Redevelopment Agency of the City of Chula Vista owns certain real
property at 753 Broadway in Chula Vista, California; and
WHEREAS, Universal Memorial Centers V, Inc. wishes to purchase said property from
the Agency for the development of a Funeral Home; and
WHEREAS, a Purchase/Sale and Development Agreement and Joint Escrow
Instructions between the Redevelopment Agency and Universal Memorial Centers V, Inc. has
been prepared; and
WHEREAS, Community Redevelopment Act requires that a public hearing be held by
the Agency for the sale of Agency property without competitive bidding and/or where the
property was acquired with tax increment, and requires that notice of said public hearing be
given by publication in a local newspaper for not less than once a week for two weeks prior
to the hearing; and
WHEREAS, notice of the public hearing was published in the Chula Vista Star News
on May 24, 1997 and May 31, 1997 and the City Council and Redevelopment Agency held
the joint public hearing on June 3, 1997 and considered all testimony presented; and
WHEREAS, Community Redevelopment Law requires that the sale of Agency property
assist in the elimination of blight; and
WHEREAS, Community Redevelopment Law requires that the sale of Agency property
be consistent with the implementation plan adopted for the Project Area pursuant to Health
and Safety Code Section 33490; and
WHEREAS, Community Redevelopment Law requires that the sale of Agency property
be based on a price that is not less than (1) the fair market value of the property at its highest
and best use in accordance with the plan, or (2) the fair reuse value at the use and with the
covenants and conditions and development costs authorized by the sale.
NOW THEREFORE, THE CITY COUNCIL AND REDEVELOPMENT AGENCY QF THE CITY
OF CHULA VISTA do hereby find as follows:
'T T"] I
Resolution 18687
Page 2
1. The sale of Agency property at 753 Broadway ("Property") will eliminate and
prevent the spread of blight and deterioration in the Southwest Redevelopment
Project Area ("Project Area") by selling and causing to put the Property to a
higher and better use, improve the Property with a new building, and create
commercial activity in the area.
2. The sale of the Property is consistent with the Redevelopment Plan and
implementation plan for the Project Area because it will eliminate and prevent
the spread of blight; it will facilitate the enhancement and renovation of
businesses; it will stimulate investment of the private sector in the full
developcnent of the Project Area; and it will achieve an environment reflecting
a high level of concern for architectural, landscape, and urban design principles
appropriate to the objectives of the Redevelopment Plan.
3. The sale of the Property is for not less than the fair market value, The property
is being sold for $1 O, 23 per square foot, which has been determined based on
comparable sales data and other relevant market data during the time of
negotiations with the Buyer to be the fair market value of the Property.
BE IT FURTHER RESOLVED that the Agency further finds that it is in the best interest
of the public and Agency to sell the property located at 753 Broadway without competitive
bidding in order to put the property to its highest and best use and to bring additional
commercial activity to the area,
BE IT FURTHER RESOLVED that the Chairman of the Agency is hereby authorized and
directed to execute the Purchase and Sales Agreement and Joint Escrow Instructions with
Universal Memorial Centers V, Inc., and all other related documents and agreements
(collectively, the "Agreements") for the sale of Agency property at 753 Broadway in Chula
Vista in final forms approved by the Agency Attorney, copies of which shall be on file in the
City Clerk's Office and known as Document No. CO97-078,
BE IT FURTHER RESOLVED that staff is hereby authorized and directed to take any and
all necessary and appropriate actions to implement the Agreements.
Presented by Approved as to form
ho %un,t Deve,opme, t D,rector J At;or h
Resolution 18687
Page 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 17th day of June, 1997, by the following vote:
AYES: Councilmembers: Moot, Padilia, Rindone, Salas, and Horton
NAYES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
ATTEST:
Beverly Z~. Authelet City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of the City of Chula Vista, California, do hereby certify that
the foregoing Resolution No. 18687 as duly passed, approved, and adopted by the City
Council at a regular meeting of the Chula Vista City Council held on the 17th day of June,
1997.
Executed this 17th day of June, 1997
~Authelet, City Clerk