HomeMy WebLinkAboutReso 2004-036 - Disposition of Property
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RESOLUTION NO. 2004-36
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE DISPOSITION OF REAL PROPERTY IN THE
P ARKVIEW NEIGHBORHOOD TO DIGIOVANNI & DIGIOVANNI, L.P.,
ACCEPTING THE 33433 SUMMARY REPORT, AND FINDING THAT THE
DISPOSITION OF THE PROPERTY WILL ASSIST IN THE ELIMINATION
OF BLIGHT, IS CONSISTENT WITH THE IMPLEMENTATION PLAN
FOR THE MARKET STREET PROJECT AREA, AND THAT THE
CONSIDERATION FOR THE PROPERTY IS NOT LESS THAN THE FAIR
MARKET VALUE AT ITS HIGHEST AND BEST USE
WHEREAS, the Redding Redevelopment Agency (the "Agency") is presently engaged in
redevelopment activities in the Market Street Redevelopment Project Area and is implementing the
Parkview Neighborhood Strategic Revitalization Plan adopted by the City and the Agency on
January 2,2001; and
WHEREAS, between March 14, 2001, and January 29, 2003, the Agency acquired property
generally bounded by Lanning A venue, Leland Avenue, Fell Street, and Junior Street and property
generally south of the easterly terminus of Grange Street, more particularly described in Exhibit A
hereto, for the purpose of facilitating future development of new housing (the "Property"); and
WHEREAS, proposed development on the Property consists of approximately 86 single-
family dwellings, at least thirty percent of which will remain affordable to and occupied by persons
and families of low and moderate income (the "Project"); and
WHEREAS, the proposed Disposition and Development Agreement ("DDA") with
DiGiovanni & DiGiovanni, L.P. provides for the disposition of the Property and the development
of the Project; and
WHEREAS, Community Redevelopment Law provides in Health & Safety Code Section
33433 that (1) before any property acquired, in whole or in part, directly or indirectly, with tax
increment monies is sold or leased for development pursuant to a redevelopment plan, such sale or
lease shall first be approved by the City Council, after a duly noticed public hearing of the City
Council, and (2) the Agency shall make available for public inspection a copy of the proposed sale
or lease and a summary which describes the financial aspects of the transaction; and
WHEREAS, a Summary Report has been prepared pursuant to Health & Safety Code
Section 33433, containing a summary describing the cost of the transaction to the Agency, the value
of the property to be conveyed and other statutorily required information, and said report and copies
of the proposed DDA were made available to the public for inspection prior to the hearing, as
required by Community Redevelopment Law; and
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WHEREAS, notice of a joint public hearing by the City Council and Agency's Board of
Directors on the proposed DDA has been duly published in accordance with the Community
Redevelopment Law; and
WHEREAS, the joint public hearing by the City Council and Agency's Board of Directors
was held on March 15, 2004.
NOW, THEREFORE, IT IS RESOLVED that the City Council of the City of Redding
hereby:
1. Approves the disposition ofthe real property described in Exhibit A to DiGiovanni
& DiGiovanni, L.P.;
2. Accepts the Summary Report of the Proposed DDA between the Agency and
DiGiovanni & DiGiovanni, L.P.; and
3. Finds that the disposition of the Property will assist in the elimination of blight, is
consistent with the hnplementation Plan for the Market Street Redevelopment Project
Area, and that the consideration for the Property is not less than the fair market value
of the interest to be conveyed determined at the highest and best use for the Property.
I HEREBY CERTIFY that the foregoing resolution was introduced, read, and adopted at
a special meeting of the City Council of the City of Redding on the 15th day of March, 2004, by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIl. MEMBERS:
COUNCIl. MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Cibula, Kight, Mathena, Stegall allld Pohlmeyer
None
None
None
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ATTEST:
APPROVED AS TO FORM:
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Brad L. Fuller, City Attorney
C:IDocumenis and SetthlgsllovittlLocaJ SettingslTemponuy Internet FileslOLK7\Council Reso Parkview Neighborhood DDAI.wpd
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LELAND SITE
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SUBJECT PROPERTY
Shasta County Assessor's Parcel Numbers
104-230-032
104-230-033
104-230-034
104-230-035
104-230-036
104-230-037
104-230-039
104-230-040
104-230-041
3.2 Acres, more or less
GRANGE SITE
Shasta County Assessor's Parcel Numbers
108- 350-001
108-350-002
108-350-005
108-020-014
10.1 Acres, more or less
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EXHIBIT A