HomeMy WebLinkAboutReso 1993-17055 RESOLUTION NO. 17055
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING THE SALE OF REDEVELOPMENT AGENCY-OWNED
PROPERTY (APN 622-030-15, 622-030-22, 622-030-23) TO
CYPRESS CREEK COMPANY, L. P., AND FINDING THAT
CONSIDERATION IS NOT LESS THAN FAIR MARKET VALUE
WHEREAS, California Health and Safety Code Section 33433 requires that when
a redevelopment agency sells property acquired in whole or in part with tax
increment monies, the legislative body must conduct a public hearing on the sale
and approve the sale by resolution which finds that the sale is at fair market
value; and,
WHEREAS, the Redevelopment Agency of the City of Chula Vista ("Agency") has
adopted Resolutions of Necessity on April 13, 1993, to effect acquisition through
eminent domain of three (3) parcels in the Southwest Redevelopment Project Area,
identified by Assessor's Parcel Numbers 622-030-15, 622-030-22, and 622-030-23;
and,
WHEREAS, those parcels are being acquired through eminent domain at the
fair market values for highest and best use permitted under the Southwest
Redevel opment Project Area Plan as determined by appraisals by a quali lied
appraiser of demonstrated competence under contract to the Agency; and,
WHEREAS, upon perfection of fee titles to the Agency, the subject
properties will be sold to Cypress Creek Company, L. P., under terms specified
in the Palomar Trolley Center Disposition and Development Agreement, executed on
April 13, 1993, to facilitate the elimination of blight through the development
of an approximately 190,000 square foot commercial retail shopping center, at
sales prices which will in no case be less than the fair market value as already
established by above-referenced appraisals for the purpose of eminent domain.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CHULA VISTA does hereby
find, order, determine, and resolve as follows:
1. The sales of Redevelopment Agency-owned properties identified by
Assessor's Parcel Numbers 622-030-15, 622-030-22, and 622-030-23 to
Cypress Creek Company, L. P., pursuant to the Palomar Trolley Center
Disposition and Development Agreement are hereby approved.
2. The City Council finds that the subject sales are not below fair market
value as determined by the highest use permitted under the Southwest
Redevelopmerit Project Area Plan.
Presented by ~f~b~
Chris Salomone Bruce M. Boogaard
Community Development Director City Attorney
Resolution No. 17055
Page 2
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 27th day of April, 1993, by the following vote:
YES: Councilmembers: Fox, Horton, Moore, Rindone, Nader
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nadef~ Mayor
ATTEST:
BeVerly A~Authelet, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
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. 17055 was duly passed, approved,
and adopted by the City Council at a joint meeting of the City
Council/Redevelopment Agency held on the 27th day of April, 1993.
Executed this 27th day of April, 1993.
C
Beverly ~. Authelet, ity Clerk