R-10297Attachment B
RESOLUTION NUMBER 10297 (GCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTR
MONICA, CALIFORNIA, APPROVING A DISPOSITION AND
DEVELOPMENT AGREEMENT BY AND 6ETWEEN THE SANTA
MONICA REDEVELOPMENT AGENCY AND RELATED/SANTA MONICA
VILLAGE, LLC, AND MAKING CERTAIN FINDINGS WITH RESPECT TO
SUCH DISPOSITION AND DEVELOPMENT AGREEMENT
WHEREAS, the Redevelopment Agency of the City of Santa Monica ("Agency"}
isengaged in activities necessaryto implement the Redevelopment Plan ("the Plan°) for
the Earthquake Recovery Redevelopment. Project (the "Redevelopment Project"), and
has acquired certain property to effectuate the Plan;
WHEREAS, the Agency has adopted a Five Year Implementation Plan for the
Redevelopment Project, in accordance with Section 33490 of the California Community
Redevelopment Law (Health & Safety Code 33000 et seq) ("CRL") (the
"Implementation Plan");
WHEREAS, the- Agency has negotiated a Disposition and Development
Agreement.("Agreement") with Related/Santa Monica Village, LLC ("Developer") relative
to the ground leasing for 99 years and development of approximately 3.7 acres of
property generally located within the Village Special Use District of the Civic Center
Specific. Plan Area, -in the City of Santa Monica, California, which is located within the
Redevelopment Project Area ("Property")
WHEREAS;, a joint public hearing has been duly called, noticed and advertised
as required by law for June 10, 2008, at 5:45 p:m. in the City Council Chambers of the
City of Santa Monica, 1685 Main Street, Santa Monica, CA 90401, as contemplated by
the CRL, and such requirements have been complied vuith;
WHEREAS; pursuant to Section 33433 of the CRL,.-the Agency has prepared. a
summary ("Summary Report") and has made the Summary Report available for public
inspection in accordance with the CRL;
WHEREAS, the. Agreement. contains all the provisions; terms, conditions and
obligations required by state and local law and a copy of the Agreement and the
Summary Report have been available for public review and copying at the City Clerk's
office as required by the CRL;
WHEREAS; the ground leasing of:the Property for 99 years and the development
of the Property in accordance with the Agreement is consistent with the Implementation
Plan;
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WHEREAS, the Gity Council of the City of Santa Monica ("city Council"} has duly
considered all terms and conditions of the proposed Agreement, and believes that it is
in the best interests of the Redevelopment Project and the City of Santa Monica and the
health, safety, morals and welfare of its residents, and in accord with the public
purposes and provisrans of applicable State and local law and requirements
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONIGA,
CALIFORNIA; HEREBY RESOLVES AS FOLLOWS:
SECTION 7. The Gity Gouncil hereby finds and determines that all recitals set
forth in this resolution are true and correct and incorporated herein in full by this
reference.
SECTION 2. The Gity Council has reviewed and approves the Summary Report.
SECTION 3. The City Gouncil finds and determines that the consideration to be
received by the Agency for the ground leasing of the Property for 99 years is nat less
than fair reuse value at the use and with covenants and conditions and development
costs authorized 6y the Agreement far, among other reasons, the reasons set forkh.in
the Summary Report.
SECTION 4. The City Gouncil finds. and determines that the ground leasing of
the Property for 99 years and the development of the Property in accordance with the
Agreement will result in the provision of housing for low- or moderate-income persons,
for, among other reasons, the reasons set forth in the Summary Report.
SECTION 5. The City Gouncil finds and determines that the ground leasing of
the Property for 99 years and the development. of the Property in accordance with the
Agreement rs consistent with the Implementation Plan adopted pursuant to CRL Section
33490.
SECTION 6: The City Council has reviewed and hereby approves the ground
leasing of the Property to Developer for 9g years and the development of the Property
in accordance with the Agreement.
SECTION 7. The City Council hereby approves fhe Agreement in substantially
the form presented at this meeting or with such non-substantive changes and
amendment as may be approved by fhe City Manager and the Gity Aftorney.
SECTION 8. In making the findings and determinations herein, the Gity Council
has considered all testimony presented at the noticed public hearing, all written
evidence presented, and the entire record prepared by Agency and City staff.
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SECTION 9. The Gity Clerk shall certify the adoption of this Resolution and
thenceforth and thereafter the same shall be in full force and effect.
APPROVED AS TG FORM
Marsha ~ ones,fNo trie 1
City A rney
Related bDA
Adopted and approved this 10th day of June, 2008.
Herb Katz,
I, Maria Stewart, City Clerk of the City of Santa Monica, do hereby certify that the
foregoing Resolution No. 10297 (CCS) was duly adopted at a meeting of the Santa
Monica City Council held on the 10th day of June, 2008, by the following vote:
Ayes: Council members: Genser, McKeown, O'Connor
Mayor Katz
Noes: Council members: Holbrook,Shriver
Abstain: Council members: None
Absent: Council members: Mayor Pro Tem Bloom
ATTEST:
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Maria Stewart, City Jerk