RES-ORA-0247 Approving Agreement for Sale of PropertyRESOLUTION NO. ORA-
0247
A RESOLUTION OF THE ORANGE REDEVELOPMENT
AGENCY APPROVING AN AGREEMENT FOR SALE OF
PROPERTY, LEASES, AND RELATED DOCUMENTS
PERTAINING TO 4649 EAST WALNUT AVENUE AND
AUTHORIZING THE EXECUTION OF SAID AGREEMENT
VvHEREAS, 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
ProjectHou:iing Funds");
and WHEREAS, the Agency 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 ORANGE REDEVELOPMENT AGENCY DOES
RESOLVE AS FOLLOWS:
1. The Agency finds and determines that the use of Housing Funds pursuant to the
Agree:ment will be of benefit to the Southwest Redevelopment Project.
2. The Agency approves the Sale Agreement and authorizes the Chairman, the Executive
Director, or the Agency Clerk to execute each of the following: the Sale Agreement; and the
authorization to accept title pursuant to the Grant Deed. The Agency further determines and
approves that the Chairman, the Executive Director, or the Agency Clerk are authorized and
directed to execute such documents as may be nect~ssary and proper to implement the
Agreements.
ADOPTED
this 9th day of June 1992.ATTEST:
7) -;~~~
Agency ClerIhereby
certify that the foregoing Resolution was duly and regularly adopted by the Orange Redevelopment
Agency at a regular meeting thereof held on the ~ day of June , 1992,
by the following vote:AYES: DIRECTORS:
STEINER, BARRERA, CHAIRMAN BEYER, COONTZ, SPURGEON NOES: DIRECTORS:
NONE ABSENT: DIRECTORS:
NONE ABSTAIN: DIRECTORS:
NONE Clerk, Orang
edev op~nt Agency RESO NO. ORA-
0247 mab: b:
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