RES-8018 Approving Redevelopment Agency Purchase of Real PropertyRFSOLUTION NO. 8018
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ORANGE CONSENTING TO APPROVING THE PURCHASE
BY THE ORANGE REDEVELOPMENT AGENCY OF
PROPERTY LOCATED AT 4649 EAST WALNUT AVENUE
AND THE EXECUTION OF AN AGREEMENT FOR SALE OF
PROPERTY, LEASES, AND RELATED DOCUMENTS
PERTAINING TO SAID PROPERTY
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 Southwest
Redevelopment Project, as heretofore amended (hereinafter referred to as the "project"); and
WHEREAS, James Edward and Sandra Lynn Mounce (the "Owner") has proposed to
sell to the Agency real property located at 4649 East Walnut, Orange (the "Site") pursuant to
the Agreement for Sale of Property (the "Sale Agreement") in the form submitted herewith;
and
WHEREAS, the price at which the Site is to be acquired pursuant to the Agreement is
consistent with the appraised fair market value of the Site; and
WHEREAS, the approval and implementation of the Sale Agreement will promote the
enhancement and upgrading of property adjacent to the Project Area and will provide a
resource for the potential provision of affordable housing; and
WHEREAS, the monies to be used by the Agency in purchasing the Site are from the
Low- and Moderate-Income Housing Fund for the Southwest Redevelopment
Project Housing Funds");
and WHEREAS, the City Council has duly considered all terms and conditions of
the proposed Sale Agreement and believes that the acquisition of the Site is in the best interests
of the City and health, safety and welfare of its residents, and in accord with the public
purposes and provisions of applicable State and local law
requirements;NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ORANGE
DOES RESOLVE AS
FOLLOWS:I. The City Council finds and determines that the use of Housing Funds pursuant to
the Agreement will be of benefit to the Southwest Redevelopment
Project.2. The City Council consents to the approval of the Sale Agreement by the Agency and
to the implementation of the Sale Agreement, including without limitation the acquisition of
the Site by the
ADOPTED this 9th day of June 1992.
ATTEST:
City Clerk l/
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
City Council of the City of Orange at a regular meeting thereof held on the ~ day of
June , 1992, by the following vote:
A YES: COUNCILMEMBERS:STEINER, BARRERA, MAYOR BEYER, COONTZ, SPURGEON
NOES: COUNCILMEMBERS:NONE
ABSENT: COUNCILMEMBERS:NONE
ABSTAIN: COUNCILMEMBERS:NONE
9~~City Clerk
RESO NO, 8018
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