HomeMy WebLinkAboutReso 1993-17178 RESOLUTION NO. 17178
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING THE SALE OF REDEVELOPMENT AGENCY-OWNED
PROPERTY [APN 622-030-25, 622-041-20, 622-041-21,622-
041-22 AND 622-041-23] TO CYPRESS CREEK COMPANY, L.P.,
AND FINDING THAT IT IS APPROPRIATE TO MAKE SALE WITHOUT
PUBLIC BIDDING AND THAT CONSIDERATION IS NOT LESS THAN
FAIR MARKET VALUE
WHEREAS, California Health and Safety Code Sections 33431 and 33433 require
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 it is appropriate to
make the sale without public bidding and 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 27, 1993, and July 27, 1993, to effect
acquisition through eminent domain of five (5) parcels in the Southwest
Redevelopment Project Area, identified by Assessor's Parcel Numbers 622-030-25,
622-041-20, 622-041-21, 622-041-22 and 622-041-23; and,
WHEREAS, those parcels are being acquired pursuant to the Amended Palomar
Trolley Center Disposition and Development Agreement, approved on April 27, 1993,
which governs the development of an approximately 190,000 square foot commercial
retail shopping center which will eliminate blight and further the goals of the
Southwest Redevelopment Project Area, and which stipulates that the Redevelopment
Agency will make a good faith effort to acquire parcels needed for the
development of the center that the developer has been unable to acquire; and,
WHEREAS, Cypress Creek Company, L.P., controls the majority of the parcels
included in the proposed Palomar Trolley Center Project; and,
WHEREAS, the subject parcels are being acquired through eminent domain at
the fair market values for highest and best use permitted under the Southwest
Redevelopment Project Area Plan as determined by appraisals by a qualified
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 Amended Palomar Trolley Center Disposition and Development Agreement, at
sales prices which will be 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 Redevelopmerit Agency-owned properties identified by
Assessor's Parcel Numbers 622-030-25, 622-041-20, 622-041-21,622-041-22
Resolution No. 17178
Page 2
and 622-041-23 to Cypress Creek Company, L.P., pursuant to the Amended
Palomar Trolley Center Disposition and Development Agreement are hereby
approved.
2. The City Council finds that it is appropriate to sell the subject parcels
to Cypress Creek Company, L.P., without public bid because the sales are
pursuant to the Amended Palomar Trolley Center Disposition and Development
Agreement which requires the Redevelopment Agency to make a good faith
effort to acquire properties necessary to the development of the shopping
center that the developer has been unable to acquire, and that the
developer is the only entity which has demonstrated the interest and
ability to develop the center, the developer being in control of
substantial properties necessary to the development of the center.
3. 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 A as so
Chris Salomone Bruce M. Boogaard
Community Development Director City Attorney
Resolution No. 17178
Page 3
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 27th day of July, 1993, by the following vote:
YES: Councilmembers: Fox, Horton, Moore, Rindone, Nader
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nader, Mayor
ATTEST:
everly 5. 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. 17178 was duly passed, approved,
and adopted by the City Council at a joint Redevelopment Agency/City Council
meeting held on the 27th day of July, 1993.
Executed this 27th day of July, 1993.
Beverly A~ Authelet, City Clerk