HomeMy WebLinkAboutReso 2003-261RESOLUTION NO. 2003-261
(AGENCY RESOLUTION NO. 1826)
JOINT RESOLUTION OF THE CITY COUNCIL AND THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA
VISTA MAKING THE REQUIRED REDEVELOPMENT ACT
FINDINGS AND APPROVING A DISPOSITION AND
DEVELOPMENT AGREEMENT AND JOINT ESCROW
INSTRUCTIONS WITH CARTER REESE AND
ASSOCIATES/BITrERLIN DEVELOPMENT CORPORATION
FOR THE SALE, WITHOUT BIDDING PROCESS, AND
DEVELOPMENT OF THE REDEVELOPMENT AGENCY
PROPERTY AT 760 BROADWAY WITHIN THE SOUTHWEST
REDEVELOPMENT PROJECT AREA
WHEREAS, the Redevelopment Agency or the City of Chuia Vista owns certain real
property at 760 Broadway in Chula Vista, Caiifomia; and
WHEREAS, the development team of Carter Reese and Associates and Bitteflin
Development Corporation (hereinafter referred to as Developer) offers to purchase said property
from the Agency for the development of a mixed-use project consisting of 40 Lane Homes, 9
residential lofts, and approximately 9,000 square feet of commercial space underneath the
residential lofts; and
WHEREAS, a Disposition and Development Agreement between the Redevelopment
Agency and the Developer has been prepared; and
WHEREAS, the 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 30, 2203 and June 6, 2003 and the City Council and Redevelopment Agency held the joint
public heating on June 10, 2003 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 OF
THE CITY OF CHULA VISTA do hereby f'md as follows:
Resolution 2003-261
Page 2
1. The sale of Agency property at 760 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 new improvements, and create residential and 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 development 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 or the fair re-use value
of the site. The property is being sold for $1,350,000, which has been determined to constitute
the approximate "Fair Market Price" for the Site as that term is referenced under Section 1720
(b) of the California Labor Code. The fair re-use value of the site has been determined to be $1
million.
BE IT FURTHER RESOLVED that the Agency further finds that is in the best interest of
the public and Agency to sell the property located at 760 Broadway without competitive bidding
in order to put the property to its highest and best use and to bring additional improvements and
commercial activity to the area.
BE IT FURTHER RESOLVED that the Chairman of the Agency is hereby authorized
and directed to execute the Disposition and Development Agreement with Carter Reese and
Associates and Bitteflin Development Corporation and all other related documents and
agreements (collectively, the "Agreements") for the sale of Agency property at 760 Broadway in
Chula vista in final forms approved by the Agency Attorney.
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 by
Laurie A. Madigan I ~]
Comlhunity Development Director
Resolution 2003-261
Page 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 10th day of June, 2003, by the following vote:
AYES:
Councilmembem:
Davis, McCann, Rindone, Salas and Padilla
NAYS:
Councilmembers: None
ABSENT:
ATIF_,ST:
Councilmembers:
None
adilla, Mayor
Susan Bigelow, City Clerl~
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2003-261 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 10th day of June, 2003.
Executed this 10th day of June, 2003.
Susan Bigelow, City Clerk