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R-238 ATTACHMENT C RESOLUTION NUMBER 238 (PAS) (Parking Authority Series) A RESOLUTION OF THE MEMBERS OF THE PARKING AUTHORITY OF THE CITY OF SANTA MONICA AUTHORIZING EXECUTION OF A SALE AND PERFORMANCE AGREEMENT WHEREAS, the Redevelopment Agency of the City of Santa Monica (the "Agency") has prepared a Redevelopment Plan (the "Redevelopment Plan") for the Santa Monica Earthquake Recovery Redevelopment Project ("Project Area") which results in the allocation of taxes from the Project Area to the Agency for the purposes of redevelopment; and WHEREAS, the Parking Authority of the City of Santa Monica ("Authority") owns certain real property within the Project Area ("Authority Property") on which parking structures are located. The Authority Property together with the parking structures shall collectively be referred to as the "Authority Parking Structures;" and WHEREAS, the City owns certain real property within the Project Area ("City Property") on which parking structures are located. The City Property together with the parking structures shall collectively be referred to as the "City Parking Structures;" and WHEREAS"pursuant to Section 33445(a) of the California Community Redevelopment Law (Health & Safety Code Section 33000 et seq.) ("CRL"), the Agency may, with the consent of the City Council ("City Council") of the City, pay all or part of the value of the land for and the cost of the installation and construction of any building, facility, structure, or other improvements which is publicly owned either within or outside a project area, if the City Council makes certain determinations; and WHEREAS, pursuant to Section 33220 of the CRL, for the purpose of aiding and cooperating in the planning, undertaking, construction or operation of redevelopment projects located within the Project Area, any public body, upon the terms and with or without consideration as the public body determines, may sell or convey its property to the Agency; and WHEREAS, pursuant to Section 33391 of the CRL, within a survey area or for purposes of redevelopment, the Agency may purchase or accept conveyance of real property; and WHEREAS, the City desires to sell and/or convey its interests in the City Parking Structures and the Authority Parking Structures to the Agency and the Agency desires to purchase and/or accept conveyance of the City's interests in the City Parking Structures and the Authority Parking Structures; and 1 WHEREAS, the Authority desires to sell and/or convey its interests in the Authority Parking Structures and the City Parking Structures (if any) to the Agency and the Agency desires to purchase and/or accept conveyance of the Authority's interests in the Authority Parking Structures and the City Parking Structures (if any); and WHEREAS, in addition, the Agency proposes to complete certain work on the City Parking Structures and Authority Parking Structures ("Work"); and WHEREAS, the City, Authority and Agency have prepared a Sale and Performance Agreement ("Agreement") to provide for the sale and conveyance to the Agency of the City Parking Structures and Authority Parking Structures and for the completion by the Agency of the Work; and WHEREAS, acquisition of the City Parking Structures and Authority Parking Structures and completion of the Work will both preserve existing economic investment and stimulate future growth within the Project Area and provide for needed seismic safety and earthquake repair work; and WHEREAS, acquisition of the City Parking Structures and Authority Parking Structures and completion of the Work are consistent with the Agency's Five-Year Implementation Plan in that they help to achieve both the commercial and community revitalization goals set forth in the Redevelopment Plan by contributing to the economic restoration of the City's primary commercial area through development of public improvements; and WHEREAS, it is in the best interests of the City and for the common benefit of employees, business tenants and property owners within the Project Area and residents, employees, business tenants and property owners within the City as a whole for Agency to acquire the City Parking Structures and Authority Parking Structures and for the Agency to complete the Work; and WHEREAS, since there are no other reasonable means available to the City to finance the Work, the Agency proposes to enter into the Agreement; and WHEREAS, the acquisition of the City Parking Structures and Authority Parking Structures and completion of the Work are of benefit to the Project Area and the immediate neighborhood in which the Work is located; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW, THEREFORE, THE MEMBERS OF THE PARKING AUTHORITY OF THE CITY OF SANTA MONICA DO RESOLVE AS FOLLOWS: SECTION 1. Based on substantial evidence in the record, the Members of the Parking Authority hereby find and determine that the foregoing recitals are true and correct. 2 SECTION 2. The Parking Authority Executive Secretary is hereby authorized to negotiate and execute the Agreement on behalf of the Parking Authority. The Parking Authority Executive Secretary is authorized to take any action and execute any and all documents and agreements necessary to implement the Agreement. SECTION 3. The Parking Authority Clerk shall certify the adoption of this Resolution and thenceforth and thereafter the same shall be in full force and effect. APPROVED AS TO FORM If! 3 Adopted and approved this 9th day of January, 2003. &~- I hereby certify that the foregoing Resolution No. 238 (PAS) was duly adopted at a joint meeting of the Santa Monica City Council and the Parking Authority held on the 9th day of January, 2003, by the following vote: Ayes: Authority Members: Feinstein, Katz, Genser, Holbrook, O'Connor, Chair Bloom Noes: Authority Members: None Abstain: Authority Members: None Absent: Authority Members: Chair Pro Tem McKeown ATTEST: