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RES-ORA-0467 Acquisition Approval of Real Property 124-142 S. Grand St.RESOLUTION NO. ORA- 0467 A RESOLUTION OF THE ORANGE REDEVELOPMENT AGENCY APPROVING, THE ACQUISITION FOR REDEVELOPMENT PURPOSES OF AN IMPROVED PARCEL OF REAL PROPERTY COMMONLY KNOWN AS 124-142 SOUTH GRAND STREET IN THE CITY OF ORANGE FROM FREDERICK J. PORTER AND R.THOMAS PORTER, TRUSTEES OF THE RALPH PORTER TRUST ESTABLISHED UNDER THE WILL OF RALPH A. J. PORTER, DECEASED, AND FREDERICK J. PORTER, ELIZABETH A.BEZZERIDES AND R. THOMAS PORTER, CO-TRUSTEES OF THE ELSIE A. PORTER REVOCABLE TRUST DATED JUNE 18, 1998.WHEREAS, the Orange Redevelopment Agency (Agency) has been duly created,established and authorized to transact business and exercise its powers under and pursuant to the California Community Redevelopment Law (commencing with Section 33000 of the California Health and Safety Code and hereinafter referred to as the Redevelopment Law),including, among other powers, the authority granted to it by Section 33391 of the Redevelopment Law to acquire real property for redevelopment purposes; and WHEREAS, Frederick J. Porter and R. Thomas Porter, Trustees of the Ralph Porter Trust established under the Will of Ralph A. J. Porter, Deceased, as to an undivided 50%interest, and Frederick J. Porter, Elizabeth A. Bezzerides and R. Thomas Porter, Co-Trustees of the Elsie A. Porter Revocable Trust Dated June 18, 1998, as to an undivided 50% interest collectively, the Seller), is the owner of that certain real property in the City of Orange,County of Orange, State of California commonly known as 124- 142 South Grand Street,which is improved with a two-story building, containing ten (10) residential apartment units the Property). The Property is more particularly described on Exhibit A, attached hereto and incorporated herein by this reference; and WHEREAS, the Property is located within the boundaries of the Orange Merged and Amended Redevelopment Project Area (the Merged Redevelopment Project Area), which Merged Redevelopment Project Area was duly established by the City Council of the City of Orange on November 27,2001 by Ordinance No. 21- 01, pursuant to the Redevelopment Law;and WHEREAS, the Seller desires, and is willing, to sell the Property to WHEREAS, the Property has been appraised as having a fair market value of One Million Four Hundred Sixty Thousand and Noll 00 Dollars ($1,460,000.00) and the purchase price set forth in the Agreement (as defined below) is in accordance with said appraisal; and WHEREAS, the Agency proposes to acquire the Property for the sum of One Million Four Hundred Sixty Thousand and No/100 Dollars ($1,460,000.00) pursuant to the terms and provisions ofa Purchase and Sale Agreement and Joint Escrow Instructions (the Agreement) in the form presented at this meeting and under the authority granted to it by Section 33391 of the Redevelopment Law; and WHEREAS, as the lead agency under the California Environmental Quality Act CEQA), the acquisition of the Property by the Agency pursuant to the Agreement is exempt from the provisions ofCEQA under Section 1506l(b)(3) of the State CEQA Guidelines because it can be seen with certainty that there is no possibility that the acquisition of the Property may have a significant effect on the environment. NOW, THEREFORE, the Board of Directors of the Orange Redevelopment Agency does hereby resolve as follows: Section 1.The foregoing recitals are true and correct. Section 2. The acquisition by the Agency from the Seller for redevelopment purposes of the fee simple estate in and to the Property, subject to easements, covenants, rights and rights-of-way of record, for the sum of One Million Four Hundred Sixty Thousand and No/IOO Dollars ($1,460,000.00), in cash, through escrow in accordance with the terms and provisions of the Agreement, is hereby approved.Section 3. The terms and provisions of the Agreement between the Agency and Seller with respect to the acquisition of the Property in the form as submitted by the Executive Director and executed by Seller are approved and all actions previously taken by such officers and employees in connection with the Agreement are ratified and approved.Section 4. The Chairman is hereby authorized and directed to execute, and the Agency Clerk is hereby authorized and directed to attest, the Agreement on behalf of the Agency, including the acceptance in the name and on behalf of the Agency of a grant deed conveying to this Agency the above-described interest in the Property.Section 5. Except as otherwise provided hereinabove, the Executive Director of the Agency is hereby authorized and directed to do any and all things to execute and deliver any and all escrow instructions and documents, which in consultation with Agency General Counsel, he may deem necessary or advisable in order to carry out and implement the Agreement and otherwise effectuate the purposes of this Resolution and to administer the Agency's obligations, responsibilities and duties to be performed under ADOPTED this 28th day of August, 2007. ATTEST: ClerkMaryE I, MARY E. MURPHY, City Clerk of the City of Orange, California, do hereby certify that the foregoing Resolution was duly and regularly adopted by the Orange Redevelopment Agency at a regular meeting thereof held on the 28th day of August, 2007, by the following vote: AYES: NOES: ABSENT: ABSTAIN: DIRECTORS: Smith, Murphy, Cavecche, Dumitru, Bilodeau DIRECTORS: None DIRECTORS: None DIRECTORS: None Mary E. MtI Clerk 3 EXHIBIT "A" LEGAL DESCRIPTION OF LAND THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF ORANGE, CITY OF ORANGE, AND IS DESCRIBED AS FOLLOWS: LOT 4 OF BLOCK E OF THE TOWN OF ORANGE AS SHOWN ON A MAP RECORDED IN BOOK 2, PAGE 630 OF MISCELLANEOUS RECORDS OF LOS ANGELES COUNTY. APN: 390-