HomeMy WebLinkAbout18744 - RESOLUTIONS - 11/15/1995 SENT BY;RUTAN & TUCKER ;11- 6-95 ;11:511W RUTAN & TUCKL-.R- 61D3220320,# 4
RESOLUTION NO. 18744
OF THE CITY C'OUNCIh OF THE CITY OF PALM SPRINGS APPROVING
A PURCHASE AND SALE AND ASSIGNMENT OP' LEASE AGREEMENT
BETWEEN THE CITY AND THE COMMUNITY REDIaVELOPMENT' AGENCY
OF THE CITY OF PALM SPRINGS
WHEREAS, the Community Redevelopment Agency of the City of Palm
springs ("Agency" ) is a public body, corporate and politic,
organized and existing under the California Community Redevelopment
Law ( "CRL") (Health & Safety Code 933000 gL seq. ) ; and
WHEREAS, the City of: Palm Springs ("City") is a municipal
corporation and general law City pursuant to state law; and
WHEREAS, City is the owner in fee of a 39 ,73 acre site generally
known as the Sunrise Mobile Home Park ("Property") which is subject
to a ground lease ("Lease' ) between City and Santiago Corporation
("Lessee") for the operation of a mobile home park by Lessee; and
WHEREAS, the Lease requires that occupancy be restricted to ,persons
and families of low and moderate income; and
WHEREAS, pursuant to Health and Safety Code Sections 333:34.2 _Qt
sea. , Agency is authorized to expend funds in its Low and Moderate
Income Housing Fund ("Housing Funds") for purchase of real property
for affordable housing provided that such property is restricted
for use by persons and families of low and moderate income for the
longest feasible time subject to the provisions of Health and
Safety Code Section 33334.3; and
WHEREAS, the Agency is authorized under the CR.b to use :Housing '
Funds to acquire the property from City; and
WHEREAS, the fair market value of the 39.73 acre Property, as
undeveloped land, has been determined by appraisal to be One
Million Five Hundred Tern Thousand Dollars ($1,510, 000) ; and
WHEREAS, the City and Agency desire to enter intro a Purchase and
Sale and Assignment of Lease Agreement ("Agreement.") to provide the
Agency's acquisition of the Property from City, using Housing
Funds, for a purchase price of One Million Five Hundred Teri
Thousand Dollars ($1,510, 000) , and assignment to Agency of: the
existing lease between City and Santiago Corporation;
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of
Palm Springs, as follows:
Section 1. The City hereby finds and determines that the
Agreement between the City and Agency referenced in
the above Recitals, a copy of which Agreement in on
file with the City Clerk, will provide for
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acquisition of the Property from City for fair
market value, that such Agreement implements the
purposes of the Housing Fund and the mandate of the
Agency to improve, increase, and preserve the
community' s supply of affordable housing, and that
the Agreement is in the best interests and welfare
of the residents of the City in accordance with the
' public purposes and provisions of applicable law.
Section 2. The Agreement is hereby approved and the City
Manager is authorized to make final technical
modifications to the Agreement to finalize it for
signature in a form approved by the City Attorney,
and to thereafter sign the Agreement on behalf of
City.
Section 3 . The City Manager is authorized to take all
appropriate actions to carry out the purposes of
this Resolution and to implement the Agreement
according to itn terms.
ADOPTED this 15th day of November 1995 .
AYES: Members Kleindienst, Lyons, Rell - nd Mayor Maryanov
NOES: None
ABSENT: Member Hodges
ATTEST_• \ ^ ITY ALM RI CALIFORNIA
By: �h v ��
City Clerk City nag
REVIEWED & APPROVED: '
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