HomeMy WebLinkAbout9/23/2014 - RESOLUTIONS - 030 RESOLUTION NO. 30
A RESOLUTION OF THE OVERSIGHT BOARD TO THE
PALM SPRINGS COMMUNITY REDEVELOPMENT
AGENCY APPROVING THE SALE OF THE PLAZA
THEATRE LOCATED AT 128 SOUTH PALM CANYON
DRIVE TO THE CITY OF PALM SPRINGS UNDER THE
PROVISIONS OF THE LONG-RANGE 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) to Division 24 of the California Health and Safety Code which dissolves the
Redevelopment Agency ("Dissolution Act"); and
WHEREAS, under the Dissolution Act, the term "successor agency" was defined to
refer to the dissolved redevelopment agency's sponsoring community (the city, county
or city and county that formed the Dissolved RDA), unless the sponsoring community
adopted a resolution electing not to serve in that capacity; 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, staff and consultants to the Successor Agency of the Palm Springs
Community Redevelopment Agency prepared a Long Range Property Management
Plan, 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 Successor Agency received its finding of completion from DOF on
January 2, 2014; and
WHEREAS, pursuant to Health & Safety Code Section 34191.5(b), the Long-Range
Property Management Plan was submitted for review and approval to the Oversight
Board and Department of Finance on December 16, 2013; and
Resolution No. 30
Page 2
WHEREAS, in its review of the LRPMP, the DOF required the Successor Agency to
assign the Carrying value to each property, but did not object to the Successor Agency
retaining the option of appraising each property to determine the true market value of
the property prior to an individual sale; and
WHEREAS, in June, 2014, the City hired Capital Realty Analysts of La Quinta,
California to undertake an appraisal of the property, and the appraiser concluded that
based on a number of unique market and site conditions, the Plaza Theatre's value is
$1.00.
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:
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 sale of Property No. 7 in the Long-
Range Property Management Plan, the Plaza Theatre, to the City of Palm Springs for
the appraised value of$1.00.
Section 3. At such time as the Successor Agency receives proceeds from the sale
of the property, the Successor Agency shall comply with applicable statutes regarding
the distribution of these proceeds to the County Auditor Controller for dissemination to
the affected taxing agencies.
Section 4. This Resolution shall take effect three business days after its adoption.
rll
OMAS FLAViW Chairman
ATTEST:
c
MES THOMPSON, City Clerk
/ Oversight Board Clerk/Secretary
Resolution No. 30
Page 3
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PA
LM 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. 30 was adopted by the Oversight Board at a Special Meeting held on the 23`d day of
September, 2014, by the following vote:
AYES: Board Member Foat, Board Member Ready, Board Member Van Horn,
and Chair Flavin
NOES: None
ABSENT: Board Member Arthur, Board Member Marshall, and Vice Chair Howell
ABSTAIN: None
AMES THOMPSON, CLERK/SECRETARY