R-514
ATTACHMENT B
RESOLUTION NUMBER 514 (RAS)
(Redevelopment Series)
RESOLUTION OF THE REDEVELOPMENT AGENCY CONSENTING
TO THE USE OF AGENCY FUNDS FOR THE ACQUISITION
OF PROPERTY LOCATED AT 1334 5TH STREET AND MAKING CERTAIN
FINDINGS PURSUANT TO HEALTH AND SAFETY CODE SECTION 33445
WHEREAS, the Redevelopment Agency (the "Agency") of the City of
Santa Monica (the "City") 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, 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, concurrently with adoption of this Resolution, the City Council
has authorized the City Manager to execute a Letter of Intent to acquire
property owned by the Sunnyside Group, located at 1334 5th Street, Santa
Monica, California (the "Property") and to negotiate and execute a Purchase and
Sale Agreement and other related documents with Sunnyside. Group pertaining
to the Property; and
WHEREAS, the Property is located within an area bounded by Wilshire
Boulevard on the north, Colorado Avenue on the south, 4~h Court on the west and
6~h Court on the east, identified in the Downtown Parking Environmental Impact
Report as appropriate for the development of new parking structures; and
WHEREAS, since there are no other reasonable means available to the
City to finance the acquisition of the Property, the Agency and City propose to
enter into a Cooperation Agreement ("Agreement") which will authorize the
Agency to grant funds to the City to acquire the Property; and
WHEREAS, the acquisition of the Property will assist in elimination of one
or more blighting conditions inside the Project Area by assisting in the elimination
of one or more of the conditions identified in the aftermath of the 1994 Northridge
Earthquake disaster; and .
WHEREAS, the acquisition of the Property is consistent with the
Redevelopment Agency's Five-Year Implementation Plan in that it helps achieve
the Disaster Prevention and Mitigation, Commercial Revitalization and
Community Revitalization goals as set forth in the Implementation Plan; 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 the Agency to pay for the acquisition of the Property as set
forth in the Agreement; and
WHEREAS, the acquisition of the Property is of benefit to the Project Area
and the immediate neighborhood in which the Property is located; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution
have occurred.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY
OF SANTA MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1. Based on substantial evidence in the record, the Agency
hereby finds and determines:
(1) #hat the foregoing recitals are true and correct;
(2) that the acquisition of the Property is of benefit to-the Project Area;
(3) that there are no other. reasonable means available to the City to finance
the acquisition of the Property;
(4) that the acquisition of the Property will assist in elimination of one or more
blighting conditions inside the Project Area by assisting in the elimination
of one or more of the conditions identified in the aftermath of the 1994
Northridge Earthquake disaster; and
(5) that the acquisition of the Property is consistent with the Redevelopment
Agency's Five-Year Implementation Plan. adopted pursuant to Section
33490 of the CRL.
SECTION 2. The Agency hereby consents to the use of Agency funds
from the Project. Area for the acquisition of the Property.
SECTION 3. The Agency Executive Director is hereby authorized to
execute the Agreement on behalf of the Agency. The Agency Executive Director
is authorized to take any action and. execute any and all documents and
agreements necessary to implement the Agreement.
SECTION 4. The obligations of the Agency under the Agreement shall
constitute an indebtedness of the Agency .for the purpose of carrying out the
Redevelopment Plan for the Project Area.
SECTION 5. The Secretary of the Agency shall certify the adoption of this
Resolution and thenceforth and thereafter the same shall be in full force and
effect.
APPROVED AS TO FORM
Adopted and approved this the 27~" day of January, 2009.
--~J
Ken Genser, Chair
I, hereby certify that the foregoing Resolution No. 514 (RAS) was duly adopted at
a special meeting of the Redevelopment Agency held on the 27~h day of January , 2009,
by the following vote:
Ayes: Agency members: Bloom, Holbrook, McKeown, Shriver
Chair Genser, Chair Pro Tem O'Connor
Noes: Agency members: None
Abstain: Agency members: None
Absent: Agency members: None
ATTEST:
Maria Stewart, Age cy Secretary