HomeMy WebLinkAboutRDA Res 77-07 1977-07-25
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RESOLUTION NO. Jr~-j1
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SEAL BEACH APPROVING AN AGREEMENT FOR
THE PURCHASE AND SALE OF REAL PROPERTY
WHEREAS, the Redevelopment Agency of the City of
Seal Beach (the "Agency") proposes to enter into that certain
Participation and Disposition Agreement with Seal Beach Assoc-
iates ("SBA") for the development of that certain parcel of
real property commonly known as the Seal Beach Trailer Park;
and
WHEREAS, the Agency, in furtherance of such develop-
ment, proposes to sell other parcels of real property to SBA
pursuant to that certain Agreement for the Purchase and Sale of
Real Property, and
WHEREAS, the Agency and the City Council of the
City of Seal Beach, pursuant to notice duly given, have held
a full and fair joint public hearing on said Agreement for
the Purchase and Sale of Real PropertYl and
WHEREAS, the Agency and the City Council have made
available for public inspection and copying at the office of
the City Clerk of the City of Seal Beach, a copy of said
Agreement for Purchase and Sale of Real Property and a
summary thereof.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND
ORDERED BY THE REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH
AS FOLLOWS:
Section 1. The Agency hereby finds and determines
that the consideration to be paid by SBA in accordance with
covenants and conditions of that certain Agreement for the
Purchase and Sale of Real Property, attached hereto as Exhibit
A and by this reference incorporated herein, is not less than
the fair market value of the parcels conveyed.
Section 2. The Agency hereby finds and determines
that the performance of said Agreement for the Purchase and
Sale of Real Property is necessary to effectuate the purposes
of the Redevelopment Plan for the Riverfront Redevelopment
Project, as amended.
Section 3. The Agency hereby approves said Agreement
for the Purchase and Sale of Real Property, and the Chairman
and Executive Director are authorized and directed to
execute same.
1977 .
PASSED, APPROVED AND ADOPTED this 25th day of July,
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ATTEST:
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Secretary
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Resolution No. 77-7 - Page Two
PASSED, APPRDVED and ADDPTED by the Redevelopment Agency of the
Cityt~ Seal Beach, at a meeting thereof held on the ;2:5"/:' day
of -,-/.l-lif. ' 1977, by the fo 11 ;2i ng v:? J? 1
AYES~ A""" ....,,:&., &~ 6A'r .'-1-tJ". iRL';'
HOES' A,,",y .."'''t - : .
ABSENT: Agency Members____________
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Executive Director - Secretary
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AGREEMENT FOR PURCHASE
AND SALE OF REAL PROPERTY
THIS AGREEMENT is made by and between the Redevelop-
ment Agency of the City of Seal Beach (herein sometimes referred
to as the "Agency") and Seal Beach Associates (herein sometimes
referred to as "SBA").
WIT N E SSE T H
WHEREAS, the Agency is a redevelopment agency (a
public body, corporate and politic) duly created, established
and authorized to transact business and exercise its powers,
all under and pursuant to the Community Redevelopment Law
[Part I of Division 24 (commencing with Section 33000) of the
Health and Safety Code of the State of California] and the
powers of the Agency include the power to dispose of real
property, and
WHEREAS, the Agency is now, or shall be simultane-
ously with the execution of this Agreement, the owner of those
certain parcels of real property located in the City of Seal
Beach, California,.and more particularly described as Exhibit
A, attached hereto, and
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WHEREAS, said parcels of real property are within
the Project Area of the Riverfront Redevelopment project, as
amended, and
WHEREAS, SBA desires to purchase and develop said
parcels of real property i~ accordance with the Redevelopment
Plan for the Riverfront Redevelopment Project, as amended.
NOW, THEREFORE, the Agency and SBA hereby agree as
follows:
Section 1. The Agency shall, subject to the terms
hereinafter set forth, sell to SBA those certain parcels of
real property more particularly described in Exhibit A,
attached hereto.
Section 2. SBA shall, subject to the terms herein-
after set forth, purchase from the Agency said parcels
of real property.
Section 3. The total purchase price of each of
said parcels of real property shall be paid by SBA on the
date of closing and shall be as follows:
(a) For Parcel A: $ 5,183.79
(b) For Parcel B: $ 776.93
(c) For Parcel C: $264,843.81
(d) For Parcel D: $ 4,244.79
Section 4. Performance of this Agreement is con-
tingent upon approval of same by the City Council of the City
of Seal Beach.
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Section 5. Performance of this Agreement is con-
tingent upon approval by the California Coastal Zone Conserva-
tion Commission of the development plan of SBA for said
parcels of real property and certain other parcels contiguous
thereto, as well as the issuance of a valid building permit by the City.
Section 6. SBA herein covenants by and for SBA
and their assigns, and all persons claiming under or through
SBA, that there shall be no discrimination against or segre-
gation of, any person or group of persons on account of
race, color, creed, religion, sex, marital status, national
origin, or ancestry in the sale, lease, sublease, transfer,
use, occupancy, tenure or enjoyment of those parcels of real
property herein conveyed, nor shall SBA or any person
claiming under or through SBA, establish or permit any such
practice or practices of discrimination or segregation with
reference to the selection, location, number, use or occupancy
of tenants, lessees, subtenants, sublessees, or vendees in
said parcels of real property herein conveyed. The foregoing
covenants shall run with the land, and shall obligate SBA and
any subcontracting party or parties, or other transferees
under this Agreement.
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Section 7. SBA.shall develop said parcels of real
property in accordance with the Redevelopment Plan for the
Riverfront Redevelopment project, as amended.
IN WITNESS
cuted this Agreement
1977.
IITTEST:
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Secretary
WHEREOF, the AgenCY~SBA have
thi~~j day of ,,~
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REDEVELOPMENT AGENCY OF THE
CITY OF SEAL BEACH
B~~ ~~
Cha uman
SEAL BEACH ASSOCIATES
By
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lhr. nOI"Ur,/p.Sll'I'ly 10 Il'cl nl I'~lcel J 01 I,hat lClnr.l (or.'1~ycd to jhc City of
S('~l [1PClch l"l'rrlnh.d on l\ugu;1 IS, l'Ji~, 1~I1Dk Hl[:'>I. p~~les 2'16, 7.117 ilnrJ 2t,3.
(J I !.Ill! () I lid ,II I~ccnnls D f Orange Coun ly. Cill i fonJi a.
PI\RCEL P,
iii" nrll.th:.I"sl,!rl,' In Ir!el nl f'ill'Ct'1 7. of I.Iwt land con'l"yed ~n lh~' (ity of
~"al I:c~ch n!r.onl"d on I\ugus t 15. J 'lll, nook JOg51, pages 2.<16, ZiP <\lld 2'\2.,
of lhr. Official Ilr!COI'ds 01 Orilnge COllnly, Cal i Inrniil.
f'I\IlCU. C
'rhJt portion of 1.11111 ~Jl-anled lo the C'ity 01 Sc,il I]each by the Jud')lIlent an:1
f inc11 Order of CnnuE'lIlnation rpcorded in Book ]2115 on p~rJes 195 lhrough 200,
incl usivp., of lhe Official Records of Orange COllnty, Ca1 i fornia.
Except lhal portion lying southeasterly of lhe following described line:
P'.'ginning at ~liltioll 11'1 01 the 1J0llndilry S!lrvey of the Pancho Los 1\1alOitos,
~'; P'21' nlap reconll'd in \1nOK 1, Pil~Je?S ~f,f1 ,'lf,l, 1\52 0 f Po Len I's 0 f Los IIlIge 1 e<;
C":IIlI.y, c'llilnnJia; Lhellce rlnl'lh 511n 'In' DO" f:~st. illon~l suid Ililnr.;,o 1in~ to
Ihl' n'n.the<lsl.l'r1y 1in(~ nf lhr 1ilnrl de<;crilJ('rI in t.hp de>erJ to the> SLate? of
(',,1 i f'"nid rl'l" high:".l\' pUrpDSI'<; rr'rorrll'rI ill nook 1\(,2, Pil~Jr. :im, of [1r~ds 01
(l'iUI~'" COllnty Cal iforllia: lhcncr. coni illllill~J 011 said Rallcho line> rllll.th SilO tin'
(II)" I.ast lO7..')~l fed t.o Lile true poillt or be~lil1nill'l; thence 011 il GIO foal
1',ldill:; cUr've conCiJV~ southeasterly \'Jit.h all included angle 01 31)0 56' 53" t.he
nrll'theilsler1y l('rmil1lls of silid curve bE:'ing tilngel1t on a 1ille pclral1el to
ilnd 110 fr.rt norll1\'Jester1y of said rancho line; thellce Ilol'th 51)0 118' 00"
[(lsl (lJon~J silid paril11e1 1 ine.
PI\I~C[L 0
lh.ll: pnl-tion nl 1ilnd beginning ilt lh~ \'/Ps!.erly comer nl LhilL pillTe1 of l~lHl
c<Jn'ley'!d 1.0 the Ci ty of Seal Beilch by dcpd r"corrled in i'.oo~ llIHSl, 1'c1~es 23~
lhn'WJh 211" inclusive, of the Official Hrcnnfs of Ol'iJnge (lJunl.y, California,
s,' i d corner I y i ng on l.he nortlr,'Ip.s terl y bouncla ry 0 I noncho Los 1\ 1 illll i to, at
Ih~ inter<;ection of lhe narl:heilster1y boundol'y of thr 80 frJOt 11,11';110 Drive
r'i~lht-nf-\'JilY: lhence SOllth flOo 57' 57" Filst 7.f1,53 fcpl; th"llcr. rlorth 70n ,1'"
?'l" 1",I';t 7.17. 11'('1;: Ih('I1(;(, 011 il t,ln~Jl~nt no lool. l'ddiu, rllrve ronrilVP Il(lr!.h
\"'cl",'l'1 :,liLil <111 inr:ludpd <11l<Jfr (11 ~,2') (I')' 71"; I.II"I1r:r {'n il t'ln(jPnt GIn r'.ll,t
larlill<; rJll''1r COlle'llIr soul:hr,l<;tf'I'ly \'lilh ill1 inr.ludrd ,1n'lle of [llr U:' 05" to
,1 1"'lnl (111 S,lid I~i\ncho I ill": thl'lIl"l' ""JI', ~;1I0 'In' nn" 1I",t 107..'18 fpet il10nn
....1 irl !~,l'1rl", 1 ill" In l.ilr point (11 1'("linllln~J. .
EXIIIBl1' "1\"
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SUMMARY OF THAT CERTAIN AGREEMENT
FOR PURCHASE AND SALE OF REAL PROPERTY
BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF
SEAL BEACH AND SEAL BEACH ASSOCIATES
l. The acquisition cost of each of those
certain parcels of real property which are the subject
I of the Agreement is as follows:
For Parcel A: $ 1,615.94
For Parcel B: $ 242.39
For Parcel C: $259,343.81
For Parcel D: $ 1,270.97
2. There will be no cost of the Agreement to the
Agency in terms of clearance costs.
3. . The Agency may incur relocation costs pursuant
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to a separate 'agreement for disposition and development of
the site of the Seal Beach Trailer Park. Although no costs
will be incurred in terms of relocation of persons from those
certain parcels of real property which are the subject of
the Agreement, relocation costs in connection with the com-
bined site have been estimated by Municipal Services, Inc"
to be approximately $776,000.
4. There will be no cost of the Agreement to the
Agency in terms of any improvements to be provided by the
Agency.
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5. On September 1, 1975, the Agency issued its
Tax Allocation Negotiable Promissory Notes, Issue of 1975
(the "Notes"). The interest rate on the Notes is 7% per
annum. The Notes are due on September 1, 1978, and are
expected to be refinanced prior to that date. Such
refinancing may be at an interest rate not to exceed 8%. As
the above described estimated relocation costs in connection
with development the Seal Beach Trailer Park will be paid
with Note proceeds, the interest cost to the Agency on such
estimated relocation cost would not exceed $62,080 per
year.
6. The estimated value of the interest conveyed
with respect to each of these certain parcels of real
property which are the subject of the Agreement is as
follows:
For Parcel A: $ 5,183.79
For Parcel B: $ 776.93
For Parcel C: $264,843.81
For Parcel D: $ 4,244.79
This estimate is based upon a square footage
price attributed to settlement of recent litigation with
regard to Parcel C in the case of City of Seal Beach v. City
of Los Angeles, et al., LA SCC No. C 78007.
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7. The purchase price of each of these certain
parcels of real property which are the subject of the
Agreement is as follows:
For Parcel A: $ 5,183.79
For Parcel B: $ 776.93
For Parcel c: $264,843.81
For Parcel D: $ 4,244.79
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