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Home My WebLink AboutReso 2012-066 - E Cypress Ave frontage e e RESOLUTION NO. 2012-066 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING APPROVING THE SALE OF REAL PROPERTY TO LITHIA REAL ESTATE, INC. AND AUTHORIZING THE MAYOR TO EXECUTE A PURCHASE AND SALE AGREEMENT CONVEYING THAT SECTION OF HEMSTED DRIVE AND EAST CYPRESS AVENUE COMMONLY DESCRIBED AS EAST CYPRESS AVENUE FRONTAGE ROAD (PORTION OF APN 107-360-002) FROM THE CITY OF REDDING TO LITHIA REAL ESTATE, INe. WHEREAS: 1. The City of Redding ("City") owns certain real property in fee located on Hemsted Drive and East Cypress Avenue ("the Property"), commonly described as East Cypress Avenue Frontage Road (portion of APN 107-360-002). The Property is more particularly described in EXHIBIT A and depicted on EXHIBIT B attached and made part hereof by reference. 2. On Iuly 17, 2012, by Resolution No. 2012-065, the City Council of the City of Redding found that the vacation of the Property is consistent with the General Plan pursuant to Government Code 965402 and that the Property is unnecessary for present or prospective public use and, therefore, it is not in the interests of the City to continue the establishment and maintenance ofthe frontage road. 3. The Property fronts property owned by Lithia Real Estate, Inc. ("Lithia") at the location of its existing automobile dealerships. Lithia is in the process of expanding its automobile dealerships in Redding and desires to purchase the Property from the City of Redding in furtherance of that purpose. 4. Lithia retained RMG Appraisers ("RMG") to determine the fair market value of the Property. On November 15, 2011, Richard A. Murphy, MAl, issued an appraisal of the Property, determining that the fair market value ofa fee interest in the Property as of November 6,2011, is Two Hundred Eighty Thousand Dollars ($280,000). 5. At its meeting on May 8, 2012, the Planning Commission of the City of Redding declared that closure and vacation of the Frontage Road on the Property is consistent with the City of Redding General Plan. Pursuant to California Government Code 965402, this determination by the Planning Commission is a prerequisite to any decision by the City to close the Frontage Road and sell it to Lithia. 6. A copy of the draft Purchase And Sale Agreement ("Purchase And Sale Agreement") setting forth terms and conditions of the proposed sale of the Property from the City to Lithia is on file with the City Clerk as an attachment to the Staff Report, Item 6.4, for the City Council meeting of July 17, 2012, and has been executed by Lithia Real Estate, Inc. 7\J \ ~ C) ,. N I C) ~ 0, NOW, THEREFORE, THE CITY COUNCIL FINDS, DECLARES AND RESOLVES AS FOLLOWS: A. The foregoing recitals are true and correct. B. The City Council of the City of Redding finds that the proposed Purchase and Sale Agreement is consistent with the General Plan. e e C. The City Council hereby approves the proposed Purchase And Sale Agreement and the transaction contemplated thereby in substantially the form of such agreement presented to the City Council. D. The City Council hereby authorizes the Mayor to execute the Purchase and Sale Agreement for the sale of fee interest, with reversionary easements, to Lithia in accordance with the terms and conditions of the Purchase And Sale Agreement, and to take any and all steps (including, but not limited to, the execution and delivery of any and all certificates, agreements, notices, consents, escrow instructions, closing documents, and other instruments) as the City Attorney deems necessary or appropriate pursuant to the Purchase And Sale Agreement, or to otherwise effectuate the purpose and intent of this Resolution. 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 17th day of July, 2012, and was adopted at said meeting by the following vote: AYES: NOES: ABSENT: ABSTAIN: COUNCIL MEMBERS: COUNCIL MEMBERS: COUNCIL MEMBERS: COUNCIL MEMBERS: Bosetti, Jones, McArthur, Sullivan & Dickerson None None None ~.~ DICK DICKERSON, Mayor ATTEST: FORM APPROVED: ~ . PAMEL;t MIZ~lerk 2 ..---.-.........-..... ...--...... .-................-.. ...-...-......--..-....-----..--....-..........--..-..--.......-......--...... .....-.-............-.-. .....---........-.----....... ......-..- EXHIBIT A LEGAL DESCRIPTION All that certain real property situate in the City of Redding, County of Shasta, State of California, described as follows: A portion of Parcel 1 as described in that Grant Deed from John M. Geer,et. ale to the City of Redding recorded January 30, 1973 in Book1154 of Official Records at Page 279, Shasta County Records and a portion of the Relinquishment of Highway Right of Way in the County of Shasta, Road 02-SHA-44-0.6-1.3 Request No. 10036 to the County of Shasta recorded September 26, 1969 in Book 1005 of Official Records at Page 660, Shasta County Records described as follows: COMMENCING at the point described as the point of beginning of said Parcell (1154 OR 279); thence from said POINT OF COMMENCEMENT, North 89018'56" West . along the northerly line of said Parcell (1154 OR 279),169.31 feet to the TRUE POINT OF BEGINNING; thence from said TRUE POINT OF BEGINNING, South 88043'49" . West, 91.37 feet; thence North 87045'53" West, 105.40 feet; thence westerly along a tangent curve to the right, having a radius of 500.00 feet through a central angle of 2042'27", an arc distance of23.63 feet; thence North 85003'26" West, 206.77 feet; thence westerly along a tangent curve to the right, having a radius of 1750.00 feet through a central angle of5021'48", an arc distance of 163.81 feet; thence North 79041 '38" West, 108.01 feet; thence northwesterly along a tangent curve to the right, having a radius of 111.00 feet through a central angle of90030'55", an arc distance of 175.36 feet; thence North 1 0049' 17" East, 78.27 feet to the northerly line of said Parcell (1154 OR 279) at a point that bears South 82005'20" East, 25.00 feet from a point designated as Point "A" in the description of said Parcell (1154 OR 279); thence along said northerly line the . following courses to the True Point of Beginning, southeasterly along a non-tangent curve to the left from which the radius point bears South 82005'20" East, 25.00 feet, through a central angle of 83009'46", an arc distance of36.29 feet to a point of reverse curve; thence southeasterly along said reverse curve having a radius of 59.00 feet through a central angle of 96039'46", an arc distance of99.54 feet to a point of reverse curve; thence southeasterly along said reverse curve having a radius of 40.41 feet through a central angle of . 101006'18", an arc distance of71.31 feet; thence South 79041 '38" East, 103.64 feet; thence easterly along a tangent curve to the left, having a radius of 1673.03 feet through a central angle of 5~ 1 '48", an arc distance of 156.61 feet; thence South 85003 '26" East, S1482LGLOO2.doc Page I of2 7/0212012 ______............n______._.._._._..._._..__......_....__......_._........_nnn. . t 220.71 feet; thence northeasterly along a tangent curve to the left, having a radius of99.85 feet through a central angle of 41001 '06", an arc distance of 71.48 feetto a point of reverse curve; thence northeasterly along said reverse curve having a radius of 67.00 feet through a central angle of 116023'12", an arc distance of 136.10 feet to a point of reverse curve; thence southeasterly along said reverse curve having a radius of 31.50 feet through a central angle of 79037'42", an arc distance of43.78 feetto the TRUE POINT OF BEGINNING. 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