RES-8117 Approving Owner Participation AgreementRESOLUTION NO. 8117
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ORANGE APPROVING. AN OWNER PARTICIPATION
AGREEMENT BY AND BETWEEN THE ORANGE
REDEVELOPMENT AGENCY AND YOUNG'S MARKET
COMPANY; DETERMINING THAT THE CONSTRUCTION OF
CERTAIN PUBLIC IMPROVEMENTS, THE COST OF WHICH
IS TO BE BORNE BY THE AGENCY, IS OF BENEFIT TO THE
NORTHWEST REDEVELOPMENT PROJECT AREA AND THE
IMMEDIATE NEIGHBORHOOD IN WHICH THE PROJECT IS
LOCATED; DETERMINING THAT THERE ARE NO OTHER
REASONABLE MEANS OF FINANCING SAID
IMPROVEMENTS; AND AUTHORIZING THE EXECUTION
AND DELIVERY OF SAID OWNER PARTICIPATION
AGREEMENT (2200 N. BATAVIA STREET)
WHEREAS, the Orange Redevelopment Agency ("Agency") is authorized to carry out
the redevelopment of the Northwest Redevelopment Project Area ("Project Area"); and
WHEREAS, the Redevelopment Plan for the Project Area authorizes and directs the
Agency to pay all or part of the value of the construction of certain public improvements; and
WHEREAS, the Agency desires to enter into an Owner Participation Agreement
OPA") with Young's Market Company, a Delaware corporation (the "Participant"), in the
form presented to the Agency at the meeting at which this resolution was adopted; and
WHEREAS, pursuant to the OPA, the Agency is to pay the amount of not to exceed
Four hundred thirty-two thousand dollars ($432,000) (the "Maximum Assistance
Amount")toward TSIP fees of the City of Orange imposed in connection with improvements which
the Participant desires to undertake on certain property within the Project Area and
commonly known as 2200 N. Batavia Street, Orange, California (the "Site");
and WHEREAS, the Participant has indicated that but for the agreement of the
Agency pursuant to the OPA as proposed, the cost of proceeding with the improvement of the
Site would be infeasible;
and WHEREAS, the monies payable by the Agency to the City pursuant to the OPA will
be applied only for public improvements which are provided for in the Redevelopment Plan
for the Project Area;
and WHEREAS, California Health and Safety Code Section 33445 provides that
a redevelopment agency may, with the consent of the legislative body, pay all or part of
value of public buildings, facilities, structures or other improvements upon a finding that such
public improvements are of benefit to the project area or the immediate neighborhood in which
the project is located and that there are no other reasonable means of financing such public
improvements available to the community; and
WHEREAS, the use of monies payable by the Agency to the City pursuant to the OPA
for public improvements within the Project Area will be of benefit to the Project Area.
NOW, THEREFORE, the City Council of the City of Orange does hereby resolve as
follows:
Section I: The City Council hereby approves the form of the OPA with the Participant
presented at the meeting at which this resolution was adopted.
Section 2: The City Council hereby determines that the acquisition, construction, and
installation of public improvements to be paid for using monies paid by the Agency to the City
pursuant to the OPA is of benefit to the Project Area and the surrounding neighborhood in
which the project is located.
Section 3: The City Council hereby determines that it is appropriate to construct and
install or cause the construction and installation of public improvements to be paid for using
monies paid by the Agency to the City pursuant to the OPA and that there are no other
reasonable means of financing such public improvements.
Section 4: The City Council consents to the provision of assistance by the Agency to
be applied for the construction and installation of public improvements provided for in the
Redevelopment Plan for the Project Area.
PASSED, APPROVED, AND ADOPTED this 8th day of December 1992.
CITY OF ORANGE, a municipal corporation
By:
AITEST:
7Jz~4<~~~
Marilyn Jen , Cit ler
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 ..B.J:.h... day of
December , 1992, by the following vote:
AYES: COUNCILMEMBERS:SPURGEON, STEINER, MAYOR BEYER, BARRERA, COONTZ
NOES: COUNCILMEMBERS:NONE
ABSENT: COUNCILMEMBERS:NONE
ABSTAIN: COUNCILMEMBERS:NONE
Marilyn
Jen ,City erk?RESO
NO. 8117 mab:
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