HomeMy Public PortalAbout2006-036RESOLUTION NO. 2006_._036
RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY OF
THE CITY OF LYNWOOD APPROVING THE REAL ESTATE
EXCHANGE AGREEMENT WITH TIDE CYTY OF LYNWOOD AND
AUTHORIZING THE CHAIRPERSON TO EXECUTE ALL NECESSARY
DOCUMENTS TO IMPLEMENT THE PROVISIONS OF SAID REAL
ESTATE EXCHANGE AGR~EIVIENT
Whereas, on or about May 20, 1991 the. Agency acquired real property in the
City of Lynwood, California described in the Los Angeles County Recorder's Office as
Parcel Number 6189-019-900 (hereinafter referred to as Parcel "900") for the purpose of
increasing improving and/or preserving the City of Lynwood's supply of low and
moderate income .housing in accordance with Section 33334.2 of the California Health
and Safety Code; and
Whereas, on August 5, 2003 the Agency acquired two adjacent real properties
in the City of Lynwood, California described in the Los Angeles County Recorder's
Office as Parcel Number 6189-019-901. (hereinafter referred to as Parcel "901 ") and
Parcel Number 6189-019-902 (hereinafter referred to as Parcel "902") for the purpose of
increasing improving and/or preserving the City of Lynwood's supply of low and
moderate income housing in accordance with Section 33334.2 of the California Health
and Safety Code (Parcels 900, 901, and 902 are hereinafter collectively referred to as the
"Josephine Parcels"); and
Whereas the City of Lynwood (hereinafter referred to as the "City") determined
that it is in the vital and best interest of the City and the Citizens thereof to acquire the _
Josephine Parcels to be used in connection with the development and creation of the ~ '°`
proposed new Ham Park in the City of Lynwood; and
Whereas, the City and the Agency have determined i) that the location of the
Josephine Parcels and, in particular, their proximity to the proposed new Ham Park
makes the Josephine Parcels ideally suited for use in connection with the creation and
development of the new Ham Park; ii) that using the Josephine Parcels for park land will
eliminate blight in the City of Lynwood and promote the health and well-being of the
citizens of the City of Lynwood; and iii) the Josephine Parcels are the most practical,
feasible and available unimproved vacant land in the City of Lynwood to use to
complement the creation and development the proposed new Ham Park; and
Whereas, the City has proposed to the Agency that the Agency convey and
transfer the Josephine Parcels to the City for use in connection with the creation and
development of the new Ham Park in exchange for the City's agreement, promise and
commitment to convey and transfer to the Agency on or before February 1, 2008 one or
more comparable replacement properties (hereinafter referred to as "Replacement
Parcels") located in the City of Lynwood that are suitable for increasing, improving
and/or preserving the City of Lynwood's supply of low and moderate income housing to
the same extent, degree and number of units that the Josephine Parcels could have
provided such housing or, alternatively, the City and Agency acknowledge that the City
may, in place and instead of transferring Replacement Parcels to the Agency, elect to pay
compensation to the Agency for the Josephine Parcels; and
Whereas, the Agency has determined that it will use said Replacement Parcels
for the purpose of increasing, improving and/or preserving the City of Lynwood's supply
of low and moderate income housing in accordance with the provisions of the California
Community Redevelopment Law; and
Whereas, based on a recent independent appraisal of unimproved real property
located in close proximity to the Josephine Parcels the Agency has determined that a fair
and reasonable value of the Josephine Parcels is approximately $27 per square foot; and
Whereas, Parcel 900 is unimproved real property consisting of approximately
12,310 square feet and Parcel 901 is unimproved real property consisting of
approximately 10,660 square feet and Parcel 902 is unimproved real property consisting
of approximately 10,800 square feet;
Whereas, the Agency has been presented with and reviewed a proposed Real
Estate Exchange Agreement and supporting documents between the Agency and the City;
NOW, THEREFORE the Lynwood Redevelopment Agency of the City of
Lynwood does hereby find, determine, order and resolve as follows:
Section 1: The sale, transfer and exchange of real estate Parcel Numbers
6189-019-900, 6189-O19-901; and 6189-019-902 to the City of Lynwood is approved and
authorized for use in connection with the development and construction of the
replacement of Ham Park in accordance with the'terms and conditions specified in the
Real Estate Exchange Agreement between the City of Lynwood and the `Lynwood
Redevelopment Agency.
Section 2: The Agency approves and authorizes the Real Estate Exchange
Agreement, the Grant Deeds, Promissory Note and Deeds of Trust provided for in said
Real Estate Exchange Agreement.
Section 3: The Chairperson of the Agency is hereby authorized to sign the Real
Estate Exchange Agreement and the Grant Deeds and to take all other reasonable and
necessary steps and execute all other reasonable and necessary documents to effectuate
the purposes of this resolution.
Section 4: The Secretary of the Agency shall certify to the passage and
adoption of this resolution.
PASSED, APPROVED and ADOPTED this 1st day of August 2006.
_ .,T
CIA VASQUEZ, C
ATTEST:
d~` ~ C'
ANDREA L. HOOPER N N IQUE MA INEZ
SECRETARY EXECUTIVE DIRECTOR
APPROVED AS RM:
~,~`RONALD N. WILSON
AGENCY COUNSEL
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do hereby
certify that the foregoing Resolution was passed and adapted by the Agency at its
regular meeting held on the 1st day of AUGUST , 2006.
AYES: COUNCILMEMBERS, BYRD, JOHNSON, SANTILLAN, AND VASQUEZ
NOES: COUNCILMEMBER, PEDROZA
ABSENT: NONE
ABSTAIN: .NONE
~- ~~~
Andrea L. Hooper, Secretary
STATE OF CALIFORNIA )
) SS.
CC)UNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do hereby
certify that the above foregoing is a full, true. and correct copy of Resolution No.
2006.036 on file in my office and that said Resolution was adopted on the date
and by the vote therein stated.
Dated this 1st day of AUGUST , 2006.
f~~G~~ ~t-'~
Andrea L. Hooper, Secretary