HomeMy WebLinkAboutReso 2013-040 - 2480 Ellis Street
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RESOLUTION NO. 2013-040
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
ACTING AS THE SUCCESSOR HOUSING AGENCY OF THE FORMER
REDDING REDEVELOPMENT AGENCY APPROVING A GROUND
LEASE WITH PC REDDING APARTMENTS LIMITED PARTNERSHIP
REGARDING REAL PROPERTY LOCATED AT 2480 ELLIS STREET,
PURSUANT TO SECTION 33433 OF THE HEALTH & SAFETY CODE
WHEREAS, on February 1, 2012, the Redding Redevelopment Agency ("RRA") was
dissolved pursuant to Health and Safety Code (HSC) Sections 34161 - 34166; and
WHEREAS, pursuant to HSC Section 34176, by Resolution No. 2012-007, the City
Council of the City of Redding elected to become the Successor Housing Agency to the RRA
("Successor Housing Agency"); and
WHEREAS, HSC Section 34176(a)(l), provides for all rights, powers, duties, obligations,
and housing assets (as defined by HSC Section34176(e)) of the redevelopment agency to be
transferred to the Successor Housing Agency; and
WHEREAS, on February 2,2012, such transfer did occur; and
WHEREAS, included in that housing asset transfer was real property located at 2480 Ellis
Street, more particularly described in Exhibit A hereto (the "Property"), previously acquired by the
RRA for the purpose of facilitating affordable housing development opportunities; and
WHEREAS, proposed development on the Property consists of the development of an
affordable rental housing complex comprised of approximately 76-units. The developed units
will remain affordable to, and occupied by, persons and families with incomes at or below 120% of
area median (the "Project"); and
WHEREAS, the proposed Ground Lease Agreement ("Lease") with PC Redding
Apartments Limited Partnership, provides for the lease of the Property and the development of the
Project; and
WHEREAS, Community Redevelopment Law provides in HSC Section 33433 that 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 after a
copy of the proposed sale or lease and a summary which describes the financial aspects of the
transaction has been made available for public inspection; and
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WHEREAS, a Summary Report was prepared pursuant to HSC Section 33433, containing
a summary describing the cost of the transaction to the Successor Housing Agency, the value of
the property to be leased and other statutorily required information, and said report and copies of
the proposed Lease 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 public hearing by the City Council on the proposed Lease has
been duly published in accordance with the Community Redevelopment Law; and
WHEREAS, the public hearing by the City Council was held on April 16, 2013; and
WHEREAS, following the public hearing the City Council by Resolution No. 2013;-:-0]9
did approve the lease of the Property by the SHA to PC Redding Apartments Limited Partnership,
pursuant to the terms and conditions contained with the proposed Ground Lease Agreement.
NOW, THEREFORE, the City Council of the City of Redding Acting as Successor
Housing Agency hereby RESOLVES AND ORDERS as follows:
1. The above recitals are true and correct.
2. The Successor Housing Agency approves the lease of real property located at 2480 Ellis
Street (APN 108-024-014 and 104-350-054), which is proposed to be developed as
affordable rental housing pursuant to the proposed Ground Lease Agreement (Lease
Agreement).
3. The Successor Housing Agency approves the Lease Agreement, attached hereto and made
a part hereof, and authorizes the Mayor to execute the Lease Agreement on behalf of the
Successor Housing Agency, as well as all other documents associated therewith.
I HEREBY CERTIFY that the foregoing resolution was introduced and read at a regular
meeting of the City Council ofthe City of Redding on the 16th day of April, 2013, and was duly
adopted at said meeting by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN :
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Cadd, Jones, McArthur, Sullivan, & Bosetti
None
None
None
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RICK BOSETTI, Mayor
ATTEST:
FORM APPROVAL:
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