RES-OB-0047 Lease Agreement ApprovalRESOLUTION NO.OB -0047
A RESOLUTION OF THE OVERSIGHT BOARD OF
THE SUCCESSOR AGENCY TO THE ORANGE
REDEVELOPMENT AGENCY APPROVING A
LEASE AGREEMENT BETWEEN THE
SUCCESSOR AGENCY TO THE ORANGE
REDEVELOPMENT AGENCY AND CHAPMAN
CBC, LLC PROVIDING FOR A SHORT -TERM
LEASE OF THREE BUILDINGS LOCATED AT 123-
129 N. CYPRESS STREET.
WHEREAS, Assembly Bill x 26 ( "AB 26 ") and AB x 27 were passed by the State
Legislature on June 15, 2011 and signed by the Governor on June 28, 2011; and
WHEREAS, among other things, AB 26 amended Sections 33500, 33501, 33607.5
and 33607.7 of the California Health and Safety Code and added Part 1.8 and Part 1.85 of
Division 24 to the California Health and Safety Code; and
WHEREAS, by enactment of Part 1.85 of Division 24 of the California Health and
Safety Code, subject to all reservations herein stated, the Orange Redevelopment Agency
the "Agency ") was dissolved as of February 1, 2012; and
WHEREAS, Assembly Bill 1484 ( "AB 1484 ") was passed by the State Legislature
on June 27, 2012 and signed by the Governor on June 27, 2012 which adds and amends
certain provisions contained in AB 26, including the process for adopting Recognized
Obligation Payment Schedules; and
WHEREAS, California Health and Safety Code Section 34173(a) designates
successor agencies as successor entities to former redevelopment agencies; and
WHEREAS, on January 10, 2012, by Resolution No. 10625, the City of Orange
declared itself as the successor agency (the "Successor Agency ") upon the dissolution of the
Agency, subject to all reservations stated in such resolution; and
WHEREAS, the Oversight Board of the Successor Agency to the Orange
Redevelopment Agency (the "Oversight Board ") has been established to direct the Successor
Agency to take certain actions to wind down the affairs of the Agency in accordance with the
California Health and Safety Code;
WHEREAS, California Health and Safety Code Section 34167(d)(6) authorizes a
Successor Agency to create an enforceable obligation for the continued administration of the
former redevelopment agency including maintenance of property assets;
WHEREAS, California Health and Safety Code Section 34177(e) authorizes a Successor
Agency to dispose of assets and properties of the former redevelopment agency as directed by the
Oversight Board; and,
WHEREAS, the short term lease will provide an interim revenue stream to maximize
value of the asset and assist to offset maintenance related costs of Successor Agency properties.
NOW, THEREFORE, the Oversight Board of the Successor Agency to the Orange
Redevelopment Agency does hereby resolve as follows:
Section 1. The Oversight Board hereby finds and determines that the foregoing
recitals are true and correct.
Section 2. All legal prerequisites to the adoption of this Resolution have
occurred.
Section 3. The Oversight Board resolves to approve the Lease Agreement with
Chapman CBC, LLC for 123 -129 N. Cypress Street.
Section 4. The Executive Director is hereby authorized, on behalf of the
Successor Agency, to sign all documents necessary and appropriate to carry out and
implement the Agreement, and to administer the Agency's obligations, responsibilities and
duties to be performed under the Agreement.
Section 5. The Clerk of the Oversight Board shall certify to the adoption of this
Resolution.
Section 6. This Resolution shall take effect immediately upon its adoption.
ADOPTED this 11" day of December, 2013.
F4AA
Chhirfper on t"e versight Board of the Successor
Agency e Orange Redevelopment Agency
ATTEST:
Mary E. Mu tersighty
Clerk of the Board
Pj-
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
Oversight Board of the Successor Agency to the Orange Redevelopment Agency at a regular
meeting thereof held on the 11 day of December, 2013, by the following vote:
AYES:
NOES:
BOARDMEMBERS: Remland, Christensen, Davert, Buttress, Cavecche, Schulze
BOARDMEMBERS:None
Yarbrough
None
ABSENT: BOARDMEMBERS:
ABSTAIN: BOARDMEMBERS:
Mary E. rphy
Clerk of the Oversight Board