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HomeMy WebLinkAboutRES NO 94-81RESOLUTION NO. 94-81 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAKERSFIELD MAKING CERTAIN FINDINGS WITH RESPECT TO A DISPOSITION AND DEVELOPMENT AGREE- MENT BETWEEN THE BAKERSFIELD REDEVELOPMENT AGENCY AND BELL TOWER ASSOCIATES APPROVING THE PROPOSED SALE OF CERTAIN REAL PROPERTY AND THE DISPOSITION AND DEVELOPMENT AGREEMENT FOR A MULTI-LEVEL PARKING STRUCTURE. WHEREAS, the Bakersfield Redevelopment Agency (the "Agency") is engaged in activities necessary to execute and im- plement the Redevelopment Plan for the Downtown Bakersfield Redevelopment Project (the "Project"); and WHEREAS, in order to implement the Redevelopment Plan, the Agency proposes to sell certain real property (the "Site") in the Project area, pursuant to the terms and provisions of a Disposition and Development Agreement (the "Agreement"), which property is described in said Agreement; and WHEREAS, Bell Tower Associates (the "Developer") has submitted to the Agency a written offer in the form of said Agreement to purchase Site; and WHEREAS, the proposed Agreement contains all the pro- visions, terms, conditions and obligations required by State and local law; and WHEREAS, the Developer possesses the qualifications and financial resources necessary to acquire and insure development of the Site in accordance with the purposes and objectives of the Redevelopment Plan; and WHEREAS, the Agency has prepared, and this City Council has reviewed and considered, a Disposition and Development Agreement 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 Redevelopment Plan, the purchase prices and the estimated value of the interests conveyed, and made said Agreement available for public inspection in accordance with the California Community Redevelopment Law; and WHEREAS, the City Council has found, on the basis of a Negative Declaration, that the proposed Agreement will not have a significant effect on the environment; and WHEREAS, pursuant to the provisions of the California Community Redevelopment Law, the Agency and the City Council of the City of Bakersfield held a a duly noticed joint public hearing on the proposed sale of the Site and the proposed Agreement; and WHEREAS, the City Council has considered all terms and conditions of the proposed sale and believes that the redevelop- ment of the Site pursuant to the proposed Agreement is in the best interests of the City 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. NOW, THEREFORE, the City Council of the City of Bakersfield does resolve as follows: 1. The City Council hereby finds and determines that the consideration for the sale of the Site pursuant to the Dis- position and Development Agreement between the City Council and Bell Tower Associates is not less than fair market value of the interests conveyed, determined at the highest use permitted under the Redevelopment Plan, in accordance with the covenants and conditions governing such sale. 2. The City Council hereby finds and determines that the sale of the Site pursuant to the Agreement is necessary to effectuate the purposes of the Downtown Bakersfield Redevelopment Plan. 3. The sale of the Site by the City Council to Bell Tower Associates, and the Agreement which establishes the terms and conditions for the sale and development of such Site, are hereby approved. o0o I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by the Council of the City of Bakersfield at a regular meeting thereof held on the 16th day of December, 1981, by the following vote: AYES: COUNCILMEN: BARTON,-G. HRIST-EN~,N, MEANS, I:~.¥'1'~, IIATTY, ROCKOFF, fr'J~lNO' NOES: COU!,,ICILM':N: "J~C"LC~. ABsTA,N,NG: COUNC,L~EN,~~ ~ ~ CI E ' ' Council of the C the RJO:mm 3.