M-1/13/1987
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RESOLUTION NUMBER 414 (RAS)
(Redevelopment Agency Series)
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY
OF SANTA MONICA INVOKING THE PROVISIONS OF HEALTH AND
SAFETY CODE SECTION 33433 APPROVING THE SALE OF AGENCY
OWNED LAND AT 2400 FIFTH STREET AND 2207 SIXTH STREET
TO COMMUNITY CORPORATION OF SANTA MONICA FOR THE
DEVELOPMENT OF AFFORDABLE HOUSING.
WHEREAS, the Redevelopment Agency of the City of Santa Moni-
ca (hereinafter "Agency"); owns land located at 2400 Fifth Street
and 2207 Sixth Street (hereinafter "landlt); and
WHEREAS, the Redevelopment Plans for the Ocean Park Re-
development projects l(a) and l(b) (hereinafter referred to col-
lectively as "Ocean Park Redevelopment project") were adopted by
the City Council by Ordinance Number 497 on June 30, 1960 and
Ordinance Number 516 on January 17, 1961, respectively; and
WHEREAS, it was necessary for the Agency to demolish and
remove approximately 700 low and moderate income housing units in
the course of implementing the Ocean Park Redevelopment Project:
and
WHEREAS, a judgment was entered into the superior Court of
Los Angeles on August 12, 1983, requiring the Agency and City to
comply with the terms of an Amended Sales Agreement for Private
Development (the "Amended Sales Agreement") pertaining to comple-
tion of Phase II of the Ocean Park Redevelopment proj ect Area;
and
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WHEREAS, said Amended Sales Agreement imposes a legal
obligation upon the Agency to construct 55 units of housing af-
fordable to low and moderate income persons and families within
the area bounded by pi co and Lincoln Boulevards, the southern
City boundaries, and the Pacific Ocean; and
WHEREAS, on October 23, 1984 the Agency adopted Resolution
NnTnber 396 (RAS) invoking the provisions of Health and Safety
Code Section 33334.2 finding the provision of low and moderate
income replacement housing to be of benefit to the Ocean Park
Redevelopment Area, and authorizing the expenditure of $3.5 mil-
lion of Agency funds for such purpose; and
WHEREAS, on September 10, 1985 the Agency held a public
hearing on the proposed sale of land without public bidding as
required by Health and Safety Code Section 33431 for development
of housing: and
WHEREAS, the Redevelopment Agency on September 10, 1985 se-
lected Community Corporation of Santa Monica to develop the
fifty-five (55) units of affordable housing.
NOW THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA
MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1. The Redevelopment Agency agrees to sell the land
to Community Corporation of Santa Monica.
SECTION 2. The Redevelopment Agency finds and determines
that in order to effectuate the Ocean Park Redevelopment Project
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and comply with the terms of the Amended Sales Agreement it is
necessary to sell the land at less than its fair market value.
SECTION 3. The Redevelopment Agency finds that a purchase
price of one dollar ($1.00) is the maximum consideration
feasible.
SECTION 4. The Agency Secretary shall certify to the adop-
tion of this Resolution, and thenceforth and thereafter the same
shall be in full force and effect.
APPROVED AS TO FORM:
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Robert M. Myers
Agency Attorney
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Adopted and approv
13th day of January, 1987.
Resolution No. 4l4(RAS)
was duly adopted by the Redevelopment Agency of the City of Santa
Honica at a meeting thereof held on January 13, 1987 by the
following Agency vote:
Ayes:
Agency Members:
Finkel, Jennings, A. Katz, H.
Katz, Reed, Zane and Chairperson
Conn
Noes: Agency Members:
None
Abstain: Agency Members:
None
Absent: Agency Members:
None
ATTEST:
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