HomeMy Public PortalAboutResolution 90-30061
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RESOLUTION NO. 90 -3006
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMPLE CITY APPROVING THE SALE OF REAL
PROPERTY BY THE TEMPLE CITY COMMUNITY REDE-
VELOPMENT AGENCY PURSUANT TO THAT CERTAIN
DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN
THE TEMPLE CITY COMMUNITY REDEVELOPMENT
AGENCY AND THE BANK OF AMERICA
WHEREAS, the TEMPLE CITY COMMUNITY REDEVELOPMENT AGENCY
( "Agency ") is acquiring property owned by the BANK OF AMERICA
(the "Bank ") in order to implement the Redevelopment Plan for the
Rosemead Blvd. Redevelopment Project ( "Project "); and
WHEREAS, the Agency proposes to sell certain real property
which is owned or is being acquired by the Agency outside of the
Project area, pursuant to the terms and provisions of a certain
Disposition and Development Agreement ( "Agreement ") and which
property is described in said Agreement as the "Agency Parcel ";
and
WHEREAS, the Bank and Agency staff have negotiated a form
of Agreement to sell the real property identified in the Agree-
ment as the Agency Parcel to the Bank; and
WHEREAS, the proposed Agreement contains all the provi-
sions, terms, conditions, and obligations required by state and
local law; and
WHEREAS, the Bank possesses the qualifications and finan-
cial resources necessary to acquire the Agency Parcel and develop
the Site as described in the Agreement; and
WHEREAS, the Agency has prepared, and the City Council has
reviewed and considered, a summary setting forth the cost of the
Agreement to the Agency, the estimated value of the interests to
be conveyed determined at the highest uses permitted under the
Agreement, and the purchase price and made said summary available
for public inspection in accordance with the California Community
Redevelopment Law; and
WHEREAS, the City Council considered an Initial Study
pertaining to said Agreement, sale of the Agency Parcel, and
development of Site; and
Resolution No. 90 -3006 Page 2
WHEREAS, said Initial Study conforms to the requirements
of the California Environmental Quality act of 1970 (Public
Resources Code, Section 21000, et seq.), the "Guidelines for the
Implementation of the California Environmental Quality Act of
1970 ", as amended, adopted by the Secretary for Resources of the
State of California, and the Procedures for Implementation of the
California Environmental Quality Act of 1970 adopted by resolu-
tion of the Agency; and
WHEREAS, pursuant to provisions of the California Commu-
nity Redevelopment Law, the Agency and the City Council held a
duly noticed joint public hearing on the proposed sale of the
Agency Parcel and on the proposed Agreement; and
WHEREAS, the City Council has considered all terms and
conditions of the proposed sale, and the redevelopment of the
Agency Parcel pursuant to the proposed Agreement is in the best
interests of the City and in accord with the public purposes and
provisions of applicable State and local laws.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF TEMPLE CITY AS FOLLOWS:
SECTION 1. The City Council hereby finds and determines
that the environmental impacts related to the redevelopment of
the Site pursuant to the Agreement were considered under.. the
circumstances presented in the Final Environmental Impact Report
for Parcel A of the Project or the Hermosa Block as identified in
such Report and that no substantial changes are proposed in the
development, or with respect to the circumstances under which the
development is to be undertaken, which will require major revi-
sions in the Environmental Impact Report previously .adopted for
the Project due to the involvement of new environmental impacts
not covered in said previous Environmental Impact Report.
SECTION 2. The City Council hereby certifies that the
information contained in the Initial Study and in the Final
Environmental Impact Report for the Project has been reviewed and
considered by the members of the City Council and approves and
adopts the Initial Study with respect to the proposed Agreement,
sale and development of the Site.
SECTION 3. The City Council further finds and determines
that subsequent or supplemental Environmental Impact Report need
not be prepared.
SECTION 4. The City Council hereby finds and determines
that the proposed Agreement and sale and development of the Site
will not have a significant effect on the environment or result
in a substantial or potentially substantial adverse change in the
environment, except as identified and considered in said Final
Environmental Impact Report.
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Resolution No. 90 -3006 Page 3
SECTION 5. The City Council hereby finds and determines
that the consideration for sale of that certain real property
described as the Agency Parcel, pursuant to the Disposition and
Development Agreement between the Agency and the Bank is not less
than fair market value in accordance with covenants and
conditions governing such sale.
SECTION 6. The sale of the Agency Parcel by the Agency to
the Bank and the Disposition and Development Agreement which
establishes the terms and conditions for the sale and development
of such Site, are hereby approved, and the Agency is authorized
to approve such non - substantive changes to such Agreement prior
to its execution as may be approved by the City Manager and City
Attorney.
SECTION 7. The City Clerk shall certify to the passage
and adoption of this Resolution and the same shall thereupon take
effect and be in force.
APPROVED AND ADOPTED this 20th day of November, 1990.
Attest:
Mayor
City Clerk
Approved as
form:
City orney
I hereby certify that the foregoing Resolution, Resolution
No. 90 -3006 was duly adopted by the City Council of the City of
Temple City at a regular meeting held on the 20th day of November,
1990 by the following vote:
AYES: Councilmember- Froehle, Manning,McGowan „Wilson,Breazeal
NOES: Councilmember -None
ABSENT: Councilmember -None
City Clerk