HomeMy WebLinkAboutCC Res 2680 1977-07-25
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WLSlO-7B
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RESOLUTION NO. d ~ 7b
RESOLUTION OF THE CITY COUNCIL 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 ("SBAR) 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 Property; 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 CITY COUNCIL OF THE CITY OF SEAL BEACH
AS FOLLOWS:
Section 1. The City Council 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 incor-
porated herein, is not less than the fair market value of
the parcels conveyed.
Section 2. The City Council hereby finds and deter-
mines 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 Redevelop-
ment Project, as amended.
Section 3. The City Council hereby approves said
Agreement for the Purchase and Sale of Real Property.
PASSED, APPROVED AND ADOPTED this 25th day of July,
1977.
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Mayor
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Resolution Number 2680 - Page Two
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PASSED, APPROVED and ADOPTED by the City Council of(tnl! City of Seal
Beach at a meeting thereof held on the ~~ day o~~ ,
1977, by the following \rote: 'L r--;;f"l",
AYES: Counci lmen .. ( it. _:J
NOES: counc~lme~.-:lt f L
ABSENT: councllmen~.Jl--.
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Resolution Number
AGREEMENT FOR PUFCHASE
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
proper ty: 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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Resolution Number
WHEREAS, said parcels of real property are within
the Project Area of the Riverfront Redevelopment Project, as
amended, and
WUEREAS, 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, ~HEREFORE, the Agency and'SBA hereby agree as
follows:
Section 1. The Agency shall, subject to the terms
heceinafter 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)
(c)
For Parcel B:
$ 776.93
$264,843.81
For Parcel C:
(d) For Parcel D: $ 04,244.79
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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NLS8-17B
Resolution Number
Section 5. Performance of this Agreement is con-
t ingen't upon- approv'al ,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
theretoJ as well as the issuance of a valid building permit by the City.
Section 6. SBA herein covenants by and for SBA
and the ir assigns, and all persons cIa im'ing 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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Resolution Number
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Section 7. SBA,shall develop said parcels of real
property in accordance with the Fedevelopment Plan for the
-- , " Riverfront Redevelo.pment Project, ,as amended.
IN \'1ITNESS
WHEREOF, the Agen~l SBA have
thiS"';?S'i? day Of~ J!.d;
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exe-
cuted this Agreement
1977.
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REDEVELOPMENT AGENCY OF THE
CITY OF SEAL BEACH
BY~~ ~eL
/ Chairman t?
I\TTEST:
~~
Secretary
ASSOCIATES
By
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Resolution Number
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Resolution Number
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
1. The acquisition cost of each of those
certain parcels of real property which are the subject
1 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
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
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the Agreement. relocation costs in connection with the com-
bined site have been estimated by Municipal Services, Inc.,
to be approximately $776,000.
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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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WLS8-2lA
Resolution Number
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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,lB3.79
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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Resolution Number
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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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