HomeMy Public PortalAbout89-032 (02-21-89)RESOLUTION NO. 89-32
'' ^.F'S^T.T1T70N OF THE CITY COUNCIL OF THE CITY
OF LYNWOpD APPR0~7ING THE PROPOSED SALE OF
CERTAIN REAL PROPERTY WITFIIN THE LYNWOOD
REDEVELOPMENT PROJECT AREA "A", AND APPROVING
THE EXECUTION OF AN OWNER PARTICIPATION
AGREEMENT WITH LONG BEACH PLAZA ASSOCIATES
WHEREAS, the Redevelopment Plan for the Redevelopment
Project Area "A" (the "RedeveloF»nent Plan") was adopted and
approved on July 3, 1978 by Ordinance No. 945; subsequently
amended December 27, 1978 by Ordinance No. 960; on August 19,
1975 by Ordinance No. 990; on June 1, 1976 by Ordinance No. 1010,
on December 16, 1980 by Ordinance No. 1111 and on July 5, 1988 by
Ordinance No. 88-1308 by the City Council of the City of Lynwood,
and all requirements of law for the adoption and approval of said
Redevelopment Plan have been duly complied with; and
WHEREAS, the Lynwood Redevelopment Agency (the "Agency") is
engaged in activities necessary to execute and implement the
Redevelopment Plan and in order to do so the Agency proposes to
acquire and to convey certain real property within the Project
Area as described in the proposed Owner Participation Agreement
(the "Property") to Long Beach Plaza Associates
"Participant") for development in conjunction with certain
adjacent real property currently owned by Participant as a
shopping center in accordance with the Redevelopment Plan,
pursuant to the terms and provisions of an Owner Participation
Agreement (the "OPA"); and
WHEREAS, the Participant has submitted to the Agency a
written offer in the form of an Owner Participation Agreement
, price „ofA„no tlessrcthan tfairrvalueyoftthe fland afor eusesabin
accordance with the Redevelopment Plan; and
WHEREAS, the proposed Owner Participation Agreement between
the Agency and the Participant (the "OPA") contains all the
provisions, terms, conditions and obligations required by state
and local law; and
WHEREAS, the City Council has found and determined, on the
basis of an initial study, that the actions proposed in the OPA
will have no significant effect on the environment except for
those identified and considered in the Environmental Impact
Report prepared for the Redevelopment Project Area "A" and that
no subsequent environmental impact report or supplement to
environmental impact report is necessary or required; and
WHEREAS, the Participant possesses the qualifications
necessary to acquire and insure development of the property
proposed to be conveyed in accordance with the purposes and
objectives of the Redevelopment Plan; and
WHEREAS, in order for the proposed project to be
economically feasible, the Participant has requested financial
' assistance from the Agency in the form of a$125,000 loan, at 5~
interest, due and payable in twenty (20) years; and
WHEREAS, pursuant to the provisions of the California
Community Redevelopment Law, the Agency and the City held a duly
noticed public hearing on the proposed conveyance of the Property
and the OPA, at which time all persons were given an opportunity
to be heard;
LRA9:LBPASSOC
1
NOW, 'PH~REFOk~, ~~ IT RE50LVED by the City Council of the
City of Lynwood as follows:
SECTION 1. The City Council has considered all terms and
conditions of the proposed OPA and determines that the
redevelopment of the Site pursuant to the prosafety,PAmorals and
best interests of the City and the health,
welfare of its residents, and in accord with the public purposes
and provisions of applicable State and local law.
SECTION 2. The City Council has received and heard all oral
and written objections to the proposed Agreement and to the
actions connected therewith, and that all such oral and written
objections are hereby overruled.
SECTION 3. The acquisition and combination of parcels as
economically viablePdevelopmentaunitnd appropriate to create an
SECTION 4. The approval by the Agency of the conveyance of
certain real andPethe OPAcrwhichlnestablishes the termsy and
Participant,
conditionsand rterms andVCOnditions ofeVthePmA9encyfs Sfinancial
property
assistance to Participants are hereby approved.
SECTION 5. The Chairman of the Agency is hereby authorized
to execute the proposed OPA.
SECTION 6. The executive Director of the Aqency (Orto sign
designee), is hereby authorized, on behalf of the AgencYout and
all documents necessary and appropriate to carry
implement the OPA, and to administer the Agency's obligations,
responsibilities and duties to be performed under the Agreement.
ppPROVED AND ADOPTED by the members o1989he Lynwood
Redevelopment Agency this 21st. day of February,
~E M. WELLS,
Mayor
7,TTEST ;
Li~~hLt~~ i/ ~ i ~'~
ANDREA L. HOOPER,
City Clerk
APPROVED AS TO FORM:
~ ,.,°~~:r^
Henr Barbosa,
Cit ttorney
LRA9:LBPASSOC
APPROVED AS TO CONTENT:
~
icente L. as, ir.
Community Dev. Dept.
NOTED RS TO CONTENT:
~' ~ ~ ~ i) Y.'~
Lorraine Oten
Director of Finance
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ~ ss.
' I, the undersigned, City Clerk of the City of Lynwood,
do hereby certify that the above and foregoing resolution was
duly adopted by the city Council of said City at a regular
meeting thereof held in the City Hall of said City on the 21st day
of September, 7989, and passed by the following vote:
AYES: COUNCILMEMBERS HEINE, HENNING, MORRI,S RICHARDS, WELLS
NOES: NONE
ABSENT: NONE
.-iC. ~
City Clerk, City of Ly ood
,
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. 89-32 on file in my office and that said
resolution was adopted on the date and by the vote therein
stated.
Dated this 24th day of February, 1989,
' /
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City Clerk