SR - RES-SAORA-024 - SALE OF PROPERTY TO REGENTS OF THE UNIVERSITY OF CALIFORNIA1. SUBJECT
Resolution No. SAORA -024 — A Resolution of the Governing Board of the Successor Agency to
the Orange Redevelopment Agency authorizing the execution and delivery of a Purchase and
Sale Agreement regarding the Successor Agency's sale of a property to Regents of the University
of California and taking related actions.
2. SUMMARY
Listed on the Successor Agency's Long Range Property Management Plan (the "LRPMP "), as
approved by the California Department of Finance (the "DOF "), is the proposed sale of a 0.67
acre property to the Regents of the University of California (the "UC Regents "). Staff has
completed negotiation on the related Purchase and Sale Agreement and Escrow Instructions (the
"Sale Agreement "). The Successor Agency Governing Board is requested to authorize the
execution and delivery of the Sale Agreement.
3. RECOMMENDATION
1. Approve Resolution No. SAORA -024; and
2. Authorize the Chairperson, the Vice Chair and the Executive Director to execute the Sale
Agreement.
4. FISCAL IMPACT
The sale price for property will be $440,000. Proceeds from this sale will be transmitted to the
County Auditor - Controller for distribution to the taxing entities pursuant to the LRPMP. The
City will receive approximately 13% of the net proceeds through the Redevelopment Property
Tax Trust Fund (RPTTF), or $57,000.
5. STRATEGIC PLAN GOAL(S)
2d. Be a fiscally healthy community — Effectively manage and develop City assets.
6. GENERAL PLAN IMPLEMENTATION
Not applicable.
7. DISCUSSION and BACKGROUND
On December 10, 2015, the DOF approved the Successor Agency's LRPMP, which provides for
the proposed disposition of various Successor Agency properties. On the LRPMP, the Successor
Agency stated its intent to sell Property No. 13 — a 0.67 acre property generally located on the
west side of State College Boulevard, north of Anaheim Way in the City of Orange — to the UC
Regents at the fair market value of $440,000. The sale efforts started back and negotiations were
completed in 2012, but was held up due to complications related to the Redevelopment Agency
dissolution.
With the recent approval of the LRPMP, the City is now able to complete the transaction
including final negotiations with the representatives of the UC Regents regarding the related Sale
Agreement. Under the Sale Agreement, the UC Regents will buy the Property at the purchase
price of $440,000. Pursuant to the LRPMP, proceeds from the sale of this Property will be
transmitted to the County Auditor - Controller for distribution to the taxing entities.
An Oversight Board meeting has been scheduled for July 20, 2016. The Oversight Board will be
requested to approve the Successor Agency's execution and delivery of the Sale Agreement at
that meeting.
It is recommended that the Successor Agency Governing Board adopt Resolution No. SAORA-
024 authorizing the execution and delivery of the Sale Agreement and the completion of the
transaction pursuant to the Sale Agreement.
8. ATTACHMENTS
• Resolution No. SAORA -024 (with Exhibit A — Purchase and Sale Agreement and Escrow
Instructions)
SAORA ITEM 2 7/12/16
RESOLUTION NO. SAORA -024
A RESOLUTION OF THE GOVERNING BOARD OF THE SUCCESSOR
AGENCY TO THE ORANGE REDEVELOPMENT AGENCY
AUTHORIZING THE EXECUTION AND DELIVERY OF A PURCHASE
AND SALE AGREEMENT REGARDING THE SUCCESSOR AGENCY'S
SALE OF A PROPERTY TO REGENTS OF THE UNIVERSITY OF
CALIFORNIA AND TAKING RELATED ACTIONS
WHEREAS, pursuant to AB X1 26 (enacted in June 2011), and the California Supreme
Court's decision in California Redevelopment Association, et al. v. Ana Matosantos, et al., 53
Cal. 4th 231 (2011), the Orange Redevelopment Agency (the "Former Agency ") was dissolved
as of February 1, 2012, the Successor Agency to the Orange Redevelopment Agency (the
"Successor Agency ") was constituted, and the Oversight Board of the Successor Agency (the
"Oversight Board ") was established; and
WHEREAS, AB X1 26 added Part 1..8 (commencing with Section 34161) and Part 1.85
(commencing with Section 34170) to Division 24 of the California Health and Safety Code
( "HSC ") (such Parts 1.8 and 1.85, including amendments and supplements enacted after AB XI
26, being referred to herein as the "Dissolution Act "); and
WHEREAS, pursuant to the Dissolution Act, the Successor Agency is tasked with
winding down the affairs of the Former Agency; and
WHEREAS, pursuant to Section 34175(b) of the California Health and Safety Code
( "HSC "), all real properties of the Former Agency transferred to the control of the Successor
Agency by operation of law; and
WHEREAS, on December 3, 2014, the Oversight Board adopted Resolution No.
OB -0058, approving a long -range property management plan (the "LRPMP ") which addresses
the disposition of the real properties owned by the Successor Agency; and
WHEREAS, Resolution No. OB -0058 and the LRPMP were submitted to the State
Department of Finance ( "DOF ") for review pursuant to HSC Sections 34179(h) and 34191.5(b);
and
WHEREAS, State Department of Finance (the "DOF ") issued an approval letter on
December 10, 2015, indicating that the DOF has reviewed and approved the LRPMP; and
WHEREAS, the LRPMP, as approved by the DOF, contemplates the sale a property (the
"Property ") generally located on the north side of State College Boulevard, west of Anaheim
Way in the City of Orange — identified in the LRPMP as Property No. 13 — to the Regents of the
University of California (the "UC Regents ") at its fair market value of $440,000; and
WHEREAS, attached to this Resolution as Exhibit A is the form of a Purchase and Sale
Agreement and Joint Escrow Instructions (the "Sale Agreement "), to be entered by and between
the Successor Agency and the UC Regents regarding the sale of the Property; and
RESOLUTION NO. SAORA -024
CITY COUNCIL MINUTES JULY 12, 2016
3. CONSENT CALENDAR (Continued)
RESOLUTIONS
3.19 RESOLUTION NO. 10951 (S4000.S.4)
A Resolution of the City Council of the City of Orange removing a portion of Cannon
Street from the City Street System.
ACTION: Approved.
3.20 RESOLUTION NO. 10952 (S4000.0)
A Resolution of the City Council of the City of Orange accepting certain roads and streets
into the City Street System.
ACTION: Approved.
3B. SUCCESSOR AGENCY TO THE ORANGE REDEVELOPMENT AGENCY
3.21 RESOLUTION NO. SAORA -024 (SA1000.0)
A Resolution of the governing board of the Successor Agency to the Orange
Redevelopment Agency authorizing the execution and delivery of a purchase and sale
agreement regarding the Successor Agency's sale of a property to Regents of the University
of California and taking related actions.
ACTION: Approved Resolution No. SAORA -024; and authorized the Chairperson, the
Vice Chair, and the Executive Director to execute the Sale Agreement.
MOTION — Murphy
SECOND — Whitaker
AYES — Alvarez, Whitaker, Smith, Murphy
ABSENT — Nichols
Mayor pro tem Murphy recorded an abstention on Items 3.17 and 3.18. All other items on
the Consent Calendar were approved as recommended.
END OF CONSENT CALENDAR
* * * * * * **
4. REPORTS FROM MAYOR SMITH
In light of the tragic events that happened in Dallas, Texas; Mayor Smith extended the
City's heartfelt appreciation to the Orange Police Department and pledged the City's
support to its Police Officers.
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