HomeMy WebLinkAboutRES NO 126-86 DUNCIL RESOLUTION NO. 12u-
126-86
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BAKERSFIELD APPROVING AND AUTHORIZING
THE EXECUTION OF A PARTICIPATION AGREEMENT
BETWEEN THE BAKERSFIELD REDEVELOPMENT AGENCY
AND MOSESIAN DEVELOPMENT CORPORATION AND
BEARDSLEE DEVELOPMENT CORPORATION
WHEREAS, the Bakersfield Redevelopment Agency (the "Agency") is
carrying out the Redevelopment Plan (the "Redevelopment Plan") for the
Downtown Bakersfield Redevelopment Project (the "Project"); and
WHEREAS, the Agency has received a proposed Participation
Agreement ("PA") from DMosesian Development Corporation and Beardslee
Development Corporation (the "Participant") as executed by the
Participant, providing for the sale of certain real property (the
"Sales Property") to the Participant and the development of the Sales
Property, together with property to be owned by the Participant (the
"Participating Property") for office uses in accordance with the
Redevelopment Plan; and
W~EREAS, the Community Redevelopment Law of the State of
California (Health and Safety Code Section 33000 et seq.) provides in
Section 33431 that any sale or lease of Agency property may be made
only after a public hearing of the Agency after publication of notice
as provided by law; and
WHEREAS, the Community Redevelopment Law further provides in sec-
tion 33433 that before any property acquired, in whole or in part,
with tax increment monies is sold or leased for development pursuant
to the redevelopment plan, such sale or lease shall first be approved
by the City Council after a public hearing of the City Council after
publication of notice as provided by law, and that the Agency shall
make available for public inspection a copy of the proposed sale or
lease and a summary of the financial aspects of the transaction; and
ing on August 20, 1986,
act on the disposition
the Sales Property and
and
WHEREAS, notice of a joint public hearing by the City Council of
the City of Bakersfield and the Agency on the PA was published in the
Bakersfield Californian on July 30, August 5, and August 18, 1986; and
WHERHAS, the Agency prepared a report pursuant to Section 33433 of
the Health and Safety Code and the report was made available to the
public for inspection; and
WHEREAS, pursuant to Section 33445 of the Community Redevelopment
Law, the Agency is authorized with the consent of the City Council, to
pay all or any part of the value of and the cost of installation and
construction of any building, facility, structure or other improvement
which is publicly owned either within or without the Project Area upon
a determination by the City Council that such building, facility,
structure or other improvement is of benefit to the Project Area or the
immediate area in which the Project is located and that no other rea-
sonable means of financing such building, facility, structure or other
improvement is available to the community; and
WHEREAS, the City Council and the Agency held a joint public hear-
in the City Council Chambers to consider and
of the Sales Property and the Development of
the Participating Property pursuant to the PA;
WHEREAS, all potential significant environmental effects of the
Project as proposed under the PA have been reviewed and considered in
the existing approved Negative Declaration on the Project;
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NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BAKERSFIELD DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. The City Council hereby finds and determines that the
consideration to be paid for the disposition of the Sales Property by
the Participant to the Agency pursuant to the PA are in amounts
necessary to effectuate the purposes of the Redevelopment Plan and
are not less than fair market value in accordance with the covenants
and conditions governing such sale. To the extent it is determined
that such consideration is less than fair market value, the City
Council hereby finds and determines that such lesser consideration is
necessary to effectuate the purpose of the Redevelopment Plan. This
finding is based upon the information contained in the financial sum-
mary prepared pursuant to Health and Safety Code Section 33433.
Section 2. The City Council hereby finds and determines that the
provision of public improvements by the Agency in connection with the
development of the Site is of benefit to the Project Area and that no
other reasonable means of financing such public improvements are
available to the community, and the City Council hereby authorizes the
Agency to pay for all or part of the land and the costs of installa-
tion and construction of such public improvements.
Section 3. The City Council hereby approves and authorizes execu-
tion of the PA by the Agency.
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PASSED AND ADOPTED this 20th day of August 1986,
roll call vote:
AYES: CHILDS, CHP~ISTENSEN, MOORE, SALVAGGIO, S~ITH
NOES: NONE
ABSTAIN: NONE
ABSENT: DICKERSON, RASTY
by the following
CITY CLERK and Ex Officio Clerk of the
Council of the City of Bakersfield
APPROVED this 20th day of August, 1986
MAYOR of the City' of/Bakersfield
APPROVED as to form:
ATTg~RNEY of ty of Bakersfield
5:CCRES.1
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