HomeMy WebLinkAboutReso 2009-160 - Parkview Avenue
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RESOLUTION NO. 2009 - 160
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE DISPOSITION OF REAL PROPERTY LOCATED AT
931 PARKVIEW AVENUE TO K2 LAND & INVESTMENT LLC;
ACCEPTING THE SUMMARY REPORT PURSUANT TO SECTION 33433;
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 REUSE VALUE
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, in November 1999, the Agency acquired a parcel of land located at
931 Parkview Avenue, more particularly described in Exhibit A hereto, for the purpose of facilitating
redevelopment on the south side of Park view Avenue (the "Property"); and
WHEREAS, proposed development on the Property consists of a duplex which will remain
affordable to and occupied by persons and families oflow and moderate income (the "Project"); and
WHEREAS, the proposed Disposition and Development Agreement ("DDA") with K2 Land
& Investment LLC provides for the disposition of the Property and the development ofthe 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
WHEREAS, notice of a joint public hearing by the City Council and the Agency's Board ~ .
of Directors on the proposed DDA has been duly published in accordance with the Community ~
Redevelopment Law; and 0
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WHEREAS, the joint public hearing by the City Council and Agency's Board of Directors
was held on August 17,2009.
NOW, THEREFORE, IT IS RESOLVED that the City Council of the City of Redding
hereby:
I. Approves the disposition of the real property described in Exhibit A to K2 Land &
Investment LLC;
2. Accepts the Summary Report of the Proposed DDA between the Agency and K2
Land & Investment LLC; and
3. Finds that the disposition of the Property will assist in the elimination of blight, is
consistent with the Implementation Plan for the Market Street Redevelopment Project
Area, and that the consideration for the Property is not less than the fair reuse value
at the use and with the covenants and conditions and development costs authorized
by the DDA.
I HEREBY CERTIFY that the foregoing resolution was introduced, read, and adopted at
a special meeting of the City Council ofthe City of Redding on the 17th day of August, 2009, by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Dickerson, Jones, McArthur, Stegall, and Bosetti
None
None
None
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RICK BOSETTI, Mayor
ATTEST: ",""
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APPROVED AS TO FORM:
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P AME~A MIZE, DepCity Clerk
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RICHARD A. DUVERNAY, lty Attorney
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EXHIBIT A
LEGAL DESCRIPTION
931 Parkview Avenue
ALL THAT CERTAIN REAL PROPERTY SITUATE IN CITY OF REDDING,
COUNTY OF SHASTA, STATE OF CALIFORNIA, MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
LOT 2, BLOCK 3, AS SHOWN ON THAT CERTAIN MAP ENTITLED "MAP OF
PARK SUBDIVISION, CITY OF REDDING, SHASTA COUNTY, STATE OF
CALIFORNIA", FILED MAY 25,1936 IN BOOK 5 OF MAPS AT PAGE 12, SHASTA
COUNTY RECORDS.
ASSESSOR'S PARCEL NUMBER 104-280-016