RES-8116 Approving Sale of Real Property in Southwest Redevelopment Project AreaRESOLUTION NO. 8116
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ORANGE APPROVING THE SALE OF REAL
PROPERTY IN THE SOUTHWEST REDEVELOPMENT
PROJECT AREA TO ORANGE HOUSING DEVELOPMENT
CORPORATION AND AUTHORIZING THE EXECUTION OF
A DISPOSITION AND DEVELOPMENT AGREEMENT
Pixley and Almond; 1515 East Walnut)
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 Area (hereinafter
referred to as the "Project Area"); and
WHEREAS, Orange Housing Development Corporation
hereinafter referred to as the "Developer") has submitted to
the Agency a written offer in the form of a Disposition and
Development Agreement (hereinafter referred to as the
Agreement") to purchase two non-contiguous parcels ("Parcel
A"consisting of certain real property at the northeast corner
of PiXley and Almond: "Parcel B" consisting of 1515 East
Walnut)located within the Project Area, which parcels
cOllectively constitute the Site;
and WHEREAS, the offer by the Developer is to purchase the
Site at a price less than the fair market value of the interest(
s)to be conveyed, determined at the highest and best
use consistent with the Redevelopment Plan;
and WHEREAS, the Developer will develop on the Site
twenty-two 22) dwelling units, ten (10) of which will be required
to be rented to "Very Low Income Households" at "
Affordable Housing Cost", as these terms are defined pursuant
to applicable provisions of the California Health and Safety
Code; and WHEREAS, the provision of affordable housing
units furthers the Objectives of the Redevelopment Plan and is
authorized and encouraged by Section 33334.2 of the California
Health and Safety
Code: and WHEREAS, the Agreement provides for the return of
the Site to the Agency in the event the Developer is unable
to obtain financing sufficient for the development of the
Site pursuant to the
Agreement; and WHEREAS, in order to effectuate the provisions
of that Redevelopment Plan, the Agency proposes to sell the
WHEREAS, a public hearing has been duly noticed and held on
the proposed sale of the Site: and
WHEREAS, the Agency has duly considered all terms and
conditions of the proposed sale and believes that the
development of the Site pursuant to the subject Agreement 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
WHEREAS, the Agency has reviewed the Report by Rosenow
Spevacek Group, prepared pertaining to the Agreement, dated as
of November 23, 1992 (the "Summary Report"); and
WHEREAS, the Agency has received and considered the Summary
Report and the environmental review on such proposed
development, and as a result of its said consideration and
evidence presented at the hearing on the same matter, this
Agency has determined that said project will not have any
significant effect on the environment other than as identified
in the Environmental Assessment (Initial Study) prepared for
the subject project; ,
NOW, THEREFORE, the City Council of the City of Orange does
hereby find, determine, order and resolve as follows:
Section 1. The City Council finds and determines that a
sale of the Site at less than fair market value on the terms
and conditions set forth in the Agreement is justified based
upon (i) the restriction of ten (10) dwelling units to be
developed on the Site to use for affordable housing, including
the requirement that such ten (10) dwelling units may be
maintained at affordable housing cost in perpetuity; and
ii) the upgrading influence the proposed development will have
on the Project Area and the community from the proposed
development.
Section 2. The sale of the Site by the Orange
Redevelopment Agency to the Developer on the terms and
condit~ons set forth in the Agreement is hereby approved. The
City Council hereby authorizes the Agency to appropriate Tustin
Street Taxable Housing Set-Aside Funding in the amount of
Three Hundred Seventeen Thousand Two Hundred Dollars ($317,200)
to the account number specified in the accompanying staff
report for gap financing pursuant to the
Agreement.Section 3. The City Council consents and approves that
the Executive Director of the Agency is hereby authorized
and directed to execute the Agreement and to take all steps
and sign all documents and instruments including, but not
limited to, grant deeds to carry out the Agreement on behalf of
the
Agency.11/24/
92 3607Q/2359/076 2 -
PASSED, APPROVED AND ADOPTED this
1992.
8th day of December
I
CITY OF ORANGE, a municipal
corporation
ATTEST:
f5i ~';--rv
City Cler 0
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 8th day of
December , 1992, by the follo~ing vote:
AYES: COUNCILMEMBERS: SPURGEON. STEINER. MAYOR BEYER, BARRERA,
COONTZ
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN:
z9~City Cler C.
11/24/92
3607Q/2359/076 3 -