RES-ORA-0261 Approving Owner Participation AgreementRESOLUTION NO. ORA-
0261 A RESOLUTION OF THE ORANGE
REDEVELOPMENT AGENCY APPROVING AN OWNER
PARTICIPATION AGREEMENT BY AND BETWEEN THE 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 Areaandcommonlyknownas2200N. 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 the value of public buildings, facilities, structures or other improvements upon a finding
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 Orange Redevelopment Agency does hereby resolve as
follows:
Section 1: The Agency hereby approves the form of the OPA with the Participant
presented at the meeting at which this resolution was adopted.
Section 2: The Agency 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 Agency 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 OP A and that there are no other reasonable
means of financing such public improvements.
Section 4: The Agency approves the OPA and authorizes and directs the Chairman, the
Executive Director, and the Agency Clerk to execute the OPA and such other documents as
may be necessary or convenient to the implementation of the OPA.
PASSED, APPROVED, AND ADOPTED this 8th day of December ,1992.
ORANGE REDEVELOPMENT AGENCY,
a public body, corporate and politic
By:
ATTEST:
9"1:h.ifi-"A L/?;n~
Marilyn Jen , Age~ a:eft
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 8th day of
December , 1992, by the following vote:
AYES: DIRECTORS:
d0l;l>It0'"
SPURGEON, STEINER, ~ BEYER, BARRERA, COONTZ
NOES: DIRECTORS:NONE
ABSENT: DIRECTORS:NONE
ABSTAIN: DIRECTORS:NONE
d'~~ 9 ~~J9~~
Marilyn Jens ,Agency C~k
RESO NO. ORA-
0261 mab;b;resos;