HomeMy WebLinkAboutRES NO 19-81RESOLUTION NO. Z19~81
A RESOLUTION OF THE COUNCIL OF THE CITY OF BAKERSFIELD
SETTING FORTH THE INTENT OF THE CITY COUNCIL TO SELL
CERTAIN REAL PROPERTY TO THE BAKERSFIELD REDEVELOPMENT
AGENCY AND TO LEASE PUBLIC PARKING FACILITIES IN CONNEC-
TION WITH THE DEVELOPMENT OF THE DOWNTOWN BAKERSFIELD
RETAIL CENTER, SUBJECT TO A CONDITION.
WHEREAS, the City Council authorized the submission of a UDAG pre-
application on January 29, 1980; and
WHEREAS, a duly noticed public hearing was held for review of a formal
UDAG application on July 22, 1980, at which time all persons were given the
opportunity to be heard; and
WHEREAS, the City Council authorized submission on July 22, 1980 of a
formal grant application requesting $7,500,000 in funds to be used to achieve
physical and economic revitalization of a portion of the Downtown Bakersfield
Redevelopment Project area; and
WHEREAS, the application as submitted requires that certain real
property presently owned by the City be conveyed to the Bakersfield Redevelopment
Agency in connection with the Retail Center development; and
WHEREAS, the application as submitted contemplates issuance of a par-
king lease revenue bond issue, by the Bakersfield Parking Authority for the
purpose of providing public parking facilities in connection with the Retail
Center; and
WHEREAS, the application as submitted contemplates the leasing of
said public parking facilities by the City, and the subleasing of said public
parking facilities by the City to Bakersfield Associates, the Retail Center
Developer; and
WHEREAS, the Retail Center Developer, Bakersfield Associates, has
requested certain changes in the Joint Development Agreement between the Agency
and Developer which sets forth the obligations of the parties with respect to
the Retail Center development, which changes impose no new obligations on the
City of Bakersfield;
NOW, T~EREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF BAKERS-
FIELD, as follows:
1. The City Council hereby states its intent to convey to the Bakers-
field Redevelopment Agency Block 190 of the proposed development site containing
72,336 square feet for a purchase price of $500,000, and to agree to defer payment
therefor until such time as funds are available to the Redevelopment Agency for
such purpose.
2. The City Council hereby states its intent to consent to issuance
of Lease Revenue Bonds by the Agency, and to enter into a parking lease agreement
with the Bakersfield Redevelopment Agency or the Bakersfield Parking Authority
to lease a public parking facility to be constructed in connection with the
Downtown Bakersfield Retail Center, at a rent of approximately $1,696,000
annually for a term of not less than 25 years, and t~ subl.ease said parking
facility to Bakersfield Associates, the Retail Center Developer.
3- The City Council hereby states that its intention to sell real. pro-
perty and to lease public parking facilities are subject to the following condition:
The award by the Department of Housing and Urban Development of an
Urban Development Action Grant sufficient to complete public
financing of the Downtown Retail Center development.
4. The City Manager of the City of Bakersfield is hereby authorized to
take such actions and execute such documents as are necessary to permit further
processing of the UDAG application.
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 March~. 1981, by the
following vote:
AYES: COUNCILMEN: BARTON, ~ :.~IL~N~4, MEANS, ~;~E, RATTY, ROCKOFF, ~
~7~7,7,;,7~T"~.~.:j.%~',._ ::j~F~':~ . '~; ~ ,:"'.'7 .... ." "
CITY lerk of the
Council of the City of Bakersfield
z-'-"' ,----
APPROV2th~s~16th~fday of March,ill981
.,]~..,-~ ' . :. ~ ~ -
~.~y,-of Bakersfield
,, ~ ,. ,-:
-:-.., ........
APPROVED as to form:
of Bakersfield