HomeMy WebLinkAboutReso 2010-058 - Pine Street properties
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RESOLUTION NO. 2010 - 58
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE DISPOSITION OF REAL PROPERTY LOCATED AT 1613,
1625, AND 1637 PINE STREET TO WEAVER CONTRACT SERVICES, INC.;
ACCEPTING THE SUMMARY REPORT PURSUANT TO SECTION 334330F
THE HEALTH AND SAFETY CODE; 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
MARKET VALUE OR FAIR REUSE VALUE OF THE PROPERTY AT THE
USE AND WITH THE COVENANTS AND CONDITIONS AND
DEVELOPMENT COSTS AUTHORIZED BY THE SALE
WHEREAS, the Redding Redevelopment Agency (the "Agency") is presently engaged in
redevelopment activities in the Market Street Redevelopment Project Area; and
WHEREAS, in February 2010, the Agency acquired three parcels ofland located at 1613,
1625, and 1637 Pine Street, more particularly described in Exhibit A attached hereto (the
"Property"); and
WHEREAS, proposed development on the Property consists of the development of a mixed-
use project which includes commercial space and 14 residential housing units. Six of the 14 housing
units will remain affordable to and occupied by persons and families of very-l ow- and low-income
(the "Project"); and
WHEREAS, the proposed Disposition and Development Agreement ("DDA") with Weaver
Contract Services, Inc. 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 ofthe 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 the Agency's Board of
Directors (Board) 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 the Agency's Board was held
on June 15,2010.
NOW, THEREFORE, IT IS RESOLVED that the City Council of the City of Redding
hereby:
1. Approves the disposition of the real property described in Exhibit A to Weaver
Contract Services, Inc.;
2. Accepts the Section 33433 Summary Report of the proposed DDA between the
Agency and Weaver Contract Services, Inc.; 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 market value or
the fair reuse value of the property 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
regular meeting of the City Council of the City of Redding on the 15th day of June, 2010, by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Bosetti, Dickerson
None
None
None
Attest:
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GIS DIVISION MTG. DATE:
N Development Services Department LOCATION MAP
W+E DATE PRODUCED: EXHIBIT A ITEM:
OCTOBER 8, 2009
S 0 100 200 Feet 1613, 1625, and 1637 Pine Street ATTACHMENT:
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P:\REDEVELOPIESRIIPARKING LOT 3.MXD
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