HomeMy WebLinkAbout2/25/2014 - RESOLUTIONS - 020 RESOLUTION NO. 20
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE PALM SPRINGS
COMMUNITY REDEVELOPMENT AGENCY ADJUSTING
THE CARRYING VALUES IN THE LONG RANGE
PROPERTY MANAGEMENT PLAN.
WHEREAS, the Community Redevelopment Agency of the City of Palm Springs
('Redevelopment Agency") was a redevelopment agency in the City of Palm Springs
("City"), duly created pursuant to the California Community Redevelopment Law
(Part 1 (commencing with Section 33000) of Division 24 of the California Health and
Safety Code) ('Redevelopment Law"); and
WHEREAS, AB X1 26 and AB X1 27 were signed by the Governor of California
on June 28, 2011, making certain changes to the Redevelopment Law, including adding
Part 1.8 (commencing with Section 34161) and Part 1.85 (commencing with Section
34170) ("Part 1.85") to Division 24 of the California Health and Safety Code which
effectively dissolves the Redevelopment Agency ("Dissolution Act'); and
WHEREAS, pursuant to Health & Safety Code Section 34191.5(b), successor
agencies are required to send long-range property management plans to the oversight
board and State Department of Finance no later than six months following the issuance
of the finding of completion; and
WHEREAS, the Successor Agency received its finding of completion from the
State Department of Finance on January 2, 2014; and
WHEREAS, the Successor Agency submitted a Long Range Property
Management Plan to the State on December 16, 2013, in accordance with the
provisions of Section 34191.3 of the Dissolution Act, indicating the intended disposition
and use of the real property assets of the former Redevelopment Agency; and
WHEREAS, the Long-Range Property Management Plan is being reviewed by
the State Department of Finance, which has requested that the Successor Agency
adjust, by resolution, the values on properties 7 through 12 listed in the Plan to reflect
the Carrying Value rather than the estimated market value; and
WHEREAS, the Oversight Board reviewed and considered the Board Report
dated February 25, 2014, pertaining to adjusting certain values in the Long-Range
Property Management Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS AS FOLLOWS:
Resolution No. 20
Page 2
SECTION 1. The Oversight Board hereby finds and determines that the
foregoing recitals are true and correct, and incorporates them herein by reference.
SECTION 2. The Oversight Board approves the following values for properties 7
through 12 listed in the Long Range Property Management Plan (as shown in a table
submitted hereto as Attachment 1) to reflect the Carrying Values of the properties rather
the estimated market value.
SECTION 3. Upon a decision to convey any of the properties in the Long Range
Property Management Plan to another party or to the City, the Successor Agency
retains its right to appraise the property to determine the market value of the property at
the time of the transaction, and convey at the fair market value rather than the Carrying
Value.
SECTION 4. All other sections of the Long Range Property Management Plan
remain unchanged.
SECTION 5. This Resolution shall take effect five days of its adoption.
PASSED, APPROVED AND ADOPTED BY THE OVERSIGHT BOARD FOR
THE SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS THIS 25T" DAY OF
FEBRUARY, 2014.
OMAS FLAVIN, Chairman
ATTEST:
MES THOMPSON, City Clerk
Resolution No. 20
Page 3
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, James Thompson, Secretary of the Oversight Board of the Successor Agency
of the Palm Springs Community Redevelopment Agency hereby certify that Resolution
No. 20 was adopted by the Oversight Board at a Special Meeting held on the 25« day of
February, 2014, by the following vote:
AYES: Boardmember Foat, Boardmember Marshall, Boardmember Ready,
Boardmember Van Horn, and Chairman Flavin.
NOES: None.
ABSENT: Boardmember Arthur, and Vice Chair Howell.
ABSTAIN: None.
YME—S—TH�OMPSON, CLERK/SECRETARY
Resolution No. 20
Page 4
ATTACHMENT
LONG RANGE PROPERTY MANAGEMENT PLAN
ADJUSTMENTS TO CARRYING VALUE
# Site Name Assessors Parcel Original Value Carrying
Number(s) in the LRPMP Value
7 Plaza Theater 513-144-010 $0 $1,543,483
8 Catholic Church 505-324-002 $0 $685,000
Parking Lot
9 Blue Coyote Parking 513-082-023 and $0 $141,500
Lot and Driveway 513-082-040
10 Food Court Parking Lot 513-082-043 $0 $341,826
11 Henry Frank Arcade 513-091-004 $0 $266,673
Parking Lot
12 Vineyard Parking Lot 513-153-015, $0 $482,457
513-153-016, and
513-153-029