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Home My WebLink AboutRES NO 186-87080787 COUNCIL RESOLUTION NO.186-87 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAKERSFIELD APPROVING AND AUTHORIZING EXECUTION OF AN ACQUISI- TION AGREEMENT BET%%~EN THE CITY AND THE CENTRAL DISTRICT DEVELOPMENT AGENCY WHEREAS, the Central District Development Agency (the "Agency") is carrying out the Redevelopment Plan for the Bakersfield Downtown Redevelopment Project (the "Project"); and WHEREAS, Section 33220 of the Community Redevelopment Law (Health and Safety Code Section 33000 et seq.) provides that for the purpose of aiding and cooperating in the planning, undertaking, construction or operation of redevelopment projects, any public body upon the terms and with or without consideration as it determines, may dedicate, sell, convey, or lease any of its property to a redevelopment agency; and WHEREAS, Section 33391 of the Community Redevelopment Law authorizes an agency within a redevelopment survey area or for the purposes of redevelopment to purchase, lease, obtain option upon, acquire by gift, grant, bequest, devise, or otherwise, any real or personal property, any interest in property, and any improvements on it; and WHEREAS, the City Council of the City of Bakersfield (the "City Council") wishes to sell and the Agency wishes to purchase certain real property (the "Site") for the purposes of carrying out the Project; and WHEREAS, the City Council and the Agency wish to enter into an Acquisition Agreement for the sale of the Site by the City of Bakersfield to the Agency; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BAKERSFIELD DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The City Council hereby approves and authorizes execution of the Acquisition Agreement attached hereto and incorporated herein by reference, and the Mayor and City Clerk of the City are hereby authorized and directed to execute said agreement on behalf of the City. Section 2. The Mayor or City Manager is hereby authorized to take all steps and to sign all documents necessary to implement and carry out the Acquisition Agreement on behalf of the Agency. Passed and adopted this 23rd day ofSeptember , 1987 by the following vote: AYES: COUNCILMEMBERS: CHILDS, CF~RISTENSEN, SMITH, RAT[Y, MOORE, 01OKE RSON~ SALVAGGIO NOES: COUNCILMEMBERS: ABSENT: COUNCiL. MEMBERS. ABSTAINING: COUNCILMEMBERS.: Mayor / City of Bakersfield ATTEST: City Clerk C,ty Contract No. 87- 0 ACOUISITION AGREEMENT .............. ~. RAS7-~ ~ THIS AGREEMENT is entered into this ]7~h day of August , 1987, by and between the CENTRAL DISTRICT DEVELOPMENT AGENCY (the "Agency") and the CITY OF BAKERSFIELD (the 'City"). Recitals A. The Agency is a public body, corporate and politic, organized and existing under the California Community Redevelopment Law (Health and Safety Code Section 33000 et Ae~.) to carry out the Redevelopment Plan (the 'Redevelopment Plan') for the Bakersfield Downtown Redevelopment Project (the 'Project"), adopted by the City Council of the City of Bakersfield on August 14, 1972, by Ordinance No. 2033, as amended on November 25, 1974, by Ordinance No. 2291, New Series, and on December 12, 1979, by Ordinance No. 2539, New Series. B. The City is a public body, corporate and politic and owns certain real property (the 'Site') in the Project Area described in the "Legal Description of the Site,' attached hereto as Exhibit A and incorporated herein by reference, and shown on the 'Map of the Site," attached hereto as Exhibit B and incorporated herein by reference. C. The Agency desires to purchase the Site from the City for purposes ,of redevelopment as set forth herein. Acreements NOW, THEREFORE, THE CITY AND THE AGENCY HEREBY AGREE AS FOLLOWS: 1. AGreement to Sell and Purchsse. The City agrees to sell to the Agency, and the Agency agrees to purchase from the City, the Site, upon the terms ~nd for the consideration set forth in this Agreement. 2. Acquisition Price. The total purchase price for the Site shall be the sum of FOUR HUNDRED TWENTY-SEVEN THOUSAND DOLLARS ($427,000) (the 'Acquisition Price'). The Acquisition Price shall be payable to the City in annual installments of principal and interest, at the rate of 6.5% per annum, for a period of ten (10) years, commencing with the fiscal year which begins July 1, 1988 and ends June 30, 1989. The amount of each annual payment shall be as set forth in the "Schedule of Acquisition Price Payments" attached. hereto as Exhibit C and incorporated herein by reference. The Agency shall have the right to prepay all or any portion of the Acquisition Price at any time without penalty. 3. Conveyance of the Site. Conveyance of the Site shall occur upon delivery of the deed to the Site by the City to the Agency and delivery to the Agency of a title insurance policy in conformity with Section 5 of this Agreement. The Agency shall file the deed for recordation among the land records in the Office of the County Recorder for Kern County. ~ Insurance policies for fire or casualty, if any, may either be transferred to the Agency, or the City shall agree to maintain all current fire or casualty policies in force until conveyance, at which time the City may cancel said policies. Condition of Title. The City shall convey by grant deed to the Agency fee simple title. to the Site. Title shall be free and clear of all recorded or unrecorded liens, encumbrances, covenants, assessments, easements, leases and taxes, except as approved by the Agency in writing. 5. Title Insurance. · . Concurrently with recordation of the deed, a title insurance company satisfactory to the City and the --2-- Agency shall the Agency a C.L.T.A. title insurance policy in the amount of the Acquisition Price issued by the Title insuring that title is vested in the Agency in the condition required by Section 4 of this Agreement. Said (the 'Title Company') provide and deliver to full Company title insurance policy shall be subject only to liens, encumbrances, clouds or conditions that are permitted in Section 4 of this Agreement. 6. 0ccupanc¥ bY City or Lessees. The Site shall be conveyed to the Agency free and clear of any possession or right of possession by the City or any other person. 7. Permiss]~on to Enter on Site. Prior to the conveyance of title, the City grants to the Agency, its authorized officials, agents, employees, contractors and contractors' employees the right of access to the Site at all reasonable times for the purpose of inspecting the Site, obtaining data and making surveys and tests. All such work performed on the Site by the Agency shall be at the sole expense of the Agency. The Agency shall hold the City harmless from any injury or damages arising out of an]~ activity pursuant to this Section 7. 8. Notices and Communications between the Parties. Formal notices, demands and communications between the Agency and the City shall be sufficiently given if dispatched by registered or certified mail, postage prepaid, return receipt requested, to the addresses of the Agency and the City set forth below: Agency;. Central District Development Agency 1501 Truxtun Avenue Bakersfield, CA 93301 City: City of Bakersfield 1501 Truxtun Avenue Bakersfield, CA 93301 Writteh' notices, ,demands and communications may be sent in the same manner to such other addresses as either party may from time-to-time designate. -3- 9. Entire Aqreemen~. This A~reement constitutes the entire understandin9 and a~reement of the parties relatin9 to acquisition of the Site. It integrates all the terms and conditions mentioned herein or incidental thereto and supersedes all negotiations or previous agreements Derween the parties with respect to all or any part of the suDject matter hereof. This Agreement is executed in four (4) duplicate counterparts, each of which is deemed to De an original. The effective date of this Agreement shall be the date when this Aqreement has been signed Dy the Agency. CENTRAL DISTRICT DEVELOPM]ENT AGENCY Dated: August 17, 1987 By: ~ ATTEST: By Chairman "AGENCY' Secretary CITY OF BAKERSFIELD ATTEST: City Clerk Mayor -4- EXHIBIT A LEGAL DESCRIPTION OF THE SITE Leqal Description: Parcel 1: Lots 6, 7, and 8 in block 307 in the City of Bakersfield, County of Kern, State of California, as per Map recorded November 25, 1898 in Book 1, pages 13 and 14 of Maps, the office of the County Recorder of said County. Parcel 2: Lot 5 in Block 307, in the City of Bakersfield, County of Kern, State of California, as per Map recorded November 25, 1898 in Book 1, Pages 13 and 14 of Maps, in the office of the County Recorder of said County. Legal Description: All of Lots 3 and 4, in Block 332, in the City of Bakersfield, County of Kern, State of California, according to the Map of said City, filed in the office of the County Recorder of said County of November 25, 1898 in Book 1, pages 13 and 14 of Maps. EXCEPT all oil, gas, and other mineral rights in and under said property together with the exclusive right to use such portion of said property lying more than 500 feet below the surface thereof for extraction of same. Exhibit A I_ ~ TR UX TUN CITY OF BAKERSFIELD EXHIBIT B MAP OF THE SITE /-I -132 ,® PARCEL 307-04 i i ' ~-34 -1 CITY OF BAKERSFIELD ~t~OOL /-/ /-/J2 ~34 PARCEL 332-~01 332~ EXHIBIT B MAP OF THE SITE ST ASSESSORS MAP HIO. 6-34 CO~I~'Y ~ KERN EXHIBIT C SCHEDULE OF ACQUISITION PRICE PAYMENTS The Agency will pay the appraised value of $427,000 for the property identified as Parcel %307-04 and 332-01. Terms will be for ten years beginning fiscal year 1988-89, at an interest rate cf 6.5%. Payment shall be ten equal installments, payable annually. Exhibit C