RES-8587 Owner Participation AgreementRESOLUTION NO. 8587
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ORANGE MAKING CERTAIN FINDINGS IN CONNECTION
WITH THE APPROVAL BY THE ORANGE REDEVELOPMENT
AGENCY OF AN OWNER PARTICIPATION AGREEMENT BY
AND BETWEEN THE ORANGE REDEVELOPMENT AGENCY
AND K & D INVESTMENTS, INC.
WHEREAS, the Orange Redevelopment Agency (hereinafter referred to as the
Agency") under the provision of the California Community Redevelopment Law, is engaged
in activities necessary for the execution of the Redevelopment Plan for the Northwest
Redevelopment Project Area (hereafter referred to as the "Redevelopment Plan" and the
Project Area", respectively); and
WHEREAS, K & D Investments, Inc., a California corporation (hereinafter referred
to as the "Participant") has submitted to the Agency a written offer in the form of an Owner
Participation Agreement (hereinafter referred to as the "Agreement") pursuant to which the
Participant will develop and improve certain real property situated within the Project Area and
title to which is held by the Participant (the "Site"), in accordance with approvals previously
granted by the City, namely Conditional Use Permit No. 2082-94 and Negative
Declaration No. 1461-
94; and WHEREAS, pursuant to the Agreement, the Agency is prepared to and will,
subject to the satisfaction of certain conditions precedent, as set forth in the Agreement,
reimburse the Participant for certain costs incurred in the development of the Site and the
implementation of conditions of approval, which may include the provision of public improvements of
benefit to the Project Area and the reimbursement of certain fees which are to be applied
for public improvements (collectively, the "Public Improvements"), all as more particularly
provided for in the
Agreement; and WHEREAS, the development of the Site as proposed would not be feasible but
for the provision of assistance by the Agency as provided pursuant to the
Agreement; and WHEREAS, the Agency and the City Council of the City of Orange
have duly considered all terms and conditions of the proposed Agreement and believe
that the development of the Site pursuant to the subject Agreement is in furtherance
of the Redevelopment Plan, is 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 NOW, THEREFORE, the City of Orange does hereby find, determine,
order and resolve
Section 1: The City Council finds and determines that: (i) the provision of the Public
Improvements is of benefit to the Project Area and the neighborhood in which such Public
Improvements are to be situated; (ii) no other reasonable means of financing the Public
Improvements are available to the community; and (iii) the payment of funds for the Public
Improvements will assist in the elimination of one or more blighting conditions within the
Project Area and is consistent with the adopted implementation plan; and (iv) the provision of
improvements assisted pursuant to the Agreement is necessary to effectuate the purposes of the
Redevelopment Plan.
Section 2: The City Council consents to and ratifies the execution of the Agreement by
the Agency.
ADOPTED this It-h day of F'phrl1"':1' '
1996. "
rt.ylA{~A'/t .~~
Mayor of the City of Oran
ATTEST:j
7
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City Clerk of the Ci
I hereby certify that the foregoing Resolution was duly and regularly adopted by the Orange
Redevelopment Agency at a regular meeting thereof held on the 13th day of Februarv
1996 by the following vote:
A YES: COUNCIL MEMBERS: MURPHY, BARRERA, MAYOR COONTZ, SPURGEON, SLATER
NOES: COUNCIL MEMBERS: NONE
ABSENT: COUNCIL MEMBERS: NONE
ABSTAIN: COUNCIL MEMBERS: NONE
City Clerk of th
ohT;:t
City of Orange
share/reso/8587