RES-ORA-0424 Cooperation Agreement For Sale of Certain Real Property 206 N. Manchester St.RESOLUTION NO. ORA-
0424 A RESOLUTION OF THE
ORANGE REDEVELOPMENT AGENCY APPROVING
AN AMENDED COOPERATION
AGREEMENT BETWEEN THE CITY OF ORANGE AND
THE ORANGE REDEVELOPMENT AGENCY
RELATING TO THE SALE OF CERTAIN REAL
PROPERTY LOCATED AT 206 N. MANCHESTER STREET
TO THE ORANGE REDEVELOPMENT AGENCY;
AND MAKING CERTAIN
FINDINGS WHEREAS, on January 14, 2003, this Board of Directors adopted Resolution
No.ORA-0418 (the Prior Resolution) approving the execution and delivery of
that certain Cooperation Agreement (206 N. Manchester Street) by and between
the Orange Redevelopment Agency (Agency) and the City of Orange (herein referred to
as the Agreement) and making certain findings in connection
therewith; and WHEREAS, the Agreement provides for the conveyance of certain
City-owned real property to the Agency in consideration for the payment by the Agency to the City
of Orange of the sum of $770,000, which real property is commonly known as 206 N.
Manchester Street in the City of Orange and is more particularly described in
the Agreement; and WHEREAS, the Agreement provides that the Property will be used by
the Agency for the purpose of increasing, improving and preserving the community's supply
of low- and moderate-income housing available at affordable housing costs to persons
and families of low
and moderate income; and .HEREAS, since the time of the adoption of the Prior
Resolution and the execution of the Agreement, the City and the Agency have obtained a second opinion
of the fair market value of the Property from ParkCenter Realty Advisors, which opinion of value
is set forth in its Appraisal Report, dated April 25, 2003 (herein referred to as
the Appraisal Report). The Property has been appraised by ParkCenter Realty Advisors as having a
fair market value of 900,000., which is greater than the opinion of value provided by GRC
Associates, Inc. in its Summary Appraisal Report, dated January 13, 2003, and upon
which the
Agreement was based; and WHEREAS, the City Council and the Agency desire to
amend the Agreement to increase the purchase price for the conveyance of the Property to the
Agency from $770,000 to $900,000 to reflect the current fair market value of the
Property, as determined by ParkCenter Realty Advisors in
WHEREAS, the City Council proposes to convey, and the Agency proposes to
purchase, the Property pursuant to the terms and provisions of an Amended Cooperation
Agreement (the Amended Agreement) in the form presented at this meeting and under the
authority granted to the City by Section 37350 of the California Government Code and
Sections 33220 and 33396 of the California Health and Safety Code and under the authority -...granted
to the Agency by Sections 33391 and 33396 of the California Health and Safety Code;
and WHEREAS,
the interest in the Property described in the Amended Agreement has been
appraised as having a fair market value of $900,000 and the purchase price set forth in the
Amended Agreement is in accordance with the Appraisal Report; and WHEREAS,
following acquisition thereof, the City Council and this Board of Directors
will consider options for the use of the Property for residential housing, including affordable
housing; however, neither this Board of Directors nor the City Council has commenced
project conceptualization, design, and plarming for the Property (or any portion thereof);
and WHEREAS,
Section 15004 of the State California Environmental Quality Act CEQA)
Guidelines provides that compliance with CEQA, should be completed prior to acquisition
of a site for a public project. However, Section 15004 authorizes acquisition of real
property provided that the acquiring agency conditions its future use on CEQA compliance.
Accordingly, the City Council desires to convey, and the Agency desires to purchase,
the Property in accordance with the terms and provisions of the Amended Cooperation
Agreement in the form presented at this meeting and conditioned upon the Property'
s future use being reviewed in compliance with CEQA; and WHEREAS,
the City Council and this Board of Directors have duly considered all of the
terms and conditions of the Amended Agreement as set forth in the agenda report presented to
it and any testimony received at the meeting at which this matter was considered and believes that
1he activities described therein are in the best interests of the City and health, safety, morals and
welfare of its residents, and in accord with the public purposes and provisions of applicable State
and local law requirements, and that such activities promote the affordable housing objedives
of the California Community Redevelopment Law as well as the Amended and Restated
Redevelopment Plan for the Orange Merged and Amended Redevelopment Project Area.
NOW,
THEREFORE, the Board of Directors of the Orange Redevelopment Agency resolves,
on the basis of the facts set forth in the agenda report presented to it and any testimony
received at the meeting at which this matter was considered, as follows:1.
The
foregoing recitals are true and correct.
2. The Board of Directors of the Agency hereby finds and determines that the
Agency's use of funds from its Low- and Moderate-Income Housing Fund (Housing Fund)
in the amount of Nine Hundred Thousand Dollars ($900,000.00) for acquisition of the
Property will be of benefit to the Orange Merged Redevelopment Project Area and is in the vital
and best interests of the City of Orange and the health, safety and welfare of its residents, and in
accord with the public purposes and provisions of applicable federal, state and local laws and
requirements.
3. The Board of Directors of the Agency hereby finds and determines in the
event that the Agency subsequently disposes of the Property to a private person or a public or
private entity for the purpose of providing affordable housing, the distribution of the proceeds
of such sale will be as determined by the City Council at the time of such subsequent
disposition.
4. The Board of Directors of the Agency approves the Amended Agreement with
the City of Orange in accordance with the terms and provisions set forth in the agenda report
presented to the Board of Directors of the Agency and any testimony received at the meeting at
which this matter was considered and hereby authorizes and directs the Chairman to execute the
Amended Agreement on behalf of the Agency substantially in the form presented to the City
Council and the Agency Board of Directors, and to take all steps and sign all documents and
instruments to carry out the Amended Agreement on behalf of the Agency.
5. The provisions of the Prior Resolution, except to the extent inconsistent with
the provisions of this Resolution, are hereby ratified and confirmed.
ADOPTED this 27th day of May, 2003.
M:!1J:.JeL --f
ATTEST:
4~~de;~~~Cassandra J. Calli art, Agency Clerk
I, CASSANDRA J. CATHCART, Clerk of the Orange Redevelopment Agency,
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 27th
day of May, 2003.
AYES:
DIRECTORS: Ambriz, Alvarez, Murphy, Coontz, Cavecche NOES:
DIRECTORS: None ABSENT:
DIRECTORS: None ABSTAIN:
DIRECTORS: None 11f~""~../..
4~..:t-Cassanclrl\
J. Ca art, Agency Clerk