HomeMy Public PortalAbout95-026 (03-07-95)RESOLUTION NO. 95 -26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LYNWOOD APPROVING THE DISPOSITION AND DEVELOPMENT
AGREEMENT BY AND BETWEEN THE LYNWOOD REDEVELOPXENT
AGENCY AND KRS DEVELOPMENT CORPORATION, A
CALIFORNIA CORPORATION AND AUTHORIZING THE
EXECUTIVE DIRECTOR TO EXECUTE IT
WHEREAS, the Redevelopment Plan for Lynwood Pro Area
"A" ( "Redevelopment Plan "), was duly approved pproved and adopted on July
3, 1973 by Ordinance No. 945 and subsequently amended on December
27, 1973 by Ordinance No. 960, on August 19, 1975 by Ordinance No.
990, on June 1, 1976 by Ordinance No. 1000, on December 7, 1976 by
Ordinance No. 1010, on December 16, 1980 by Ordinance No. 1111, and
on July 19, 1988 by Ordinance No. 88 -1308; and
WHEREAS, the Lynwood Redevelopment Agency ( "Agency ") is
engaged in activities necessary to execute, implement and to
further the provisions of the Redevelopment Plan for Redevelopment
Project Area "A" ( "Redevelopment Project ") in the City of Lynwood
and in order to do so the Agency proposed to enter into a
Disposition and Development Agreement ( "DDA") with KRS Development
Corporation ( "Developer "), which provides for the development of
eight (8) single - family homes at the north side of Redwood Avenue
between State Street and Peach Street; and
WHEREAS, the Agency desires to consider the sale of the
Site to the Developer for the development of the Site; and
WHEREAS, the proposed DDA contains all the provisions,
' terms, conditions and obligations required by state and local law;
and
WHEREAS, the Developer possesses the qualifications
necessary to insure development of the Site proposed in accordance
with the purposes and objectives to further the provisions of the
Redevelopment Plan; and
WHEREAS, the Agency and City Council of the City of
Lynwood have held a duly noticed joint public hearing on the
proposed DDA and related agreements;
WHEREAS, the Agency and the City Council have duly
considered the proposed DDA and believe that development pursuant
thereto is in the best interest of the City of Lynwood and in
furtherance of the goals and objectives of the Lynwood
Redevelopment Agency to reduce blight;
NOW, THEREFORE, IT IS RESOLVED by the Lynwood City Coucil
as follows:
Section 1 . The City Council hereby finds and determines
that the development of the Site pursuant to the DDA is in the best
interest of the City of Lynwood and the health, safety, morals and
' welfare of its residents, and in accord with the public purposes
and provisions of applicable State and local law.
Section 2 . The City Council hereby finds and determines
that the development of the Site pursuant to the proposed DDA is
necessary to further the provisions and effectuate the purpose of
the Redevelopment Plan for the Redevelopment Project.
Section 3 . The City Council hereby finds and determines
that the development of the Site pursuant to the proposed DDA will
be consistent with the development permitted at that location by
Lynwood's Zoning Ordinance.
Section 4 . The City has held a joint public hearing with
the Agency and has received, heard and considered all oral and
written objections to the proposed DDA and to the actions connected
therewith, and hereby overrules all such oral and written
objections.
Section 5. The consideration is not less than the fair
market value of the site at its highest and best use in accordance
with the Redevelopment Plan.
Section 6 . The City Council hereby authorizes the
Executive Director of the Agency to execute the DDA.
Section 7 . The Executive Director of the Agency, or his
designee, is hereby authorized, on behalf of the City, to sign all
documents necessary and appropriate to carry out and implement the
DDA, and to administer and implement the Agency's obligations,
responsibilities and duties to be performed under the DDA.
APPROVED AND ADOPTED this 7th day of March, 1994.
LOUIS BYRD,MAYOR
Lynwood City Council
ATTEST:
APPROVED AS TO CONTENT:
GARY D. CHIVOTS
Community evelopment Director
wp /redevelp /RRSCCREI /111094/rb
ANDREA L. HOOPER, SE RETARY
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, do hereby
certify that the foregoing resolution was passed and adopted by the City Council
of the City of Lynwood at a regular meeting held on the 7th day of March
by the following vote:
AYES: COUNCILMEMBER HEINE, HENNING, REA, RICHARDS, BYRD
NOES: NONE
ABSENT: NONE
ai� Mof
CITY CLERK, Cinw d
F�
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
ss.
I, the undersigned City Clerk of the City of Lynwood and Clerk of the
City Council of said City, do hereby certify that the above and foregoing is a
full, true and correct copy of Resolution No. 95 -26 on file in my office and
that said resolution was adopted ont he date and by the vote therein stated.
Dated this 7th day of March
CITY CLERK