HomeMy WebLinkAbout20389 - RESOLUTIONS - 7/10/2002 RESOLUTION NO. 20389 ,
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS,
CALIFORNIA, APPROVING AN AGREEMENT FOR PURCHASE
AND SALE OF REAL PROPERTYAND GRANT DEEDS SELLING
CERTAIN REAL PROPERTY TO THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS,
PARCELS 669-500-013, 669-500-015, AND 669-500-017, IN
TRACT 17642-1 FOR THE PURPOSE OF FACILITATING THE
DISPOSITION AND DEVELOPMENT AGREEMENT WITH
SUNSET HACIENDA PARTNERS, LLP AND COACHELLA
VALLEY HOUSING COALITION, INC. A04534
WHEREAS, the City of Palm Springs acquired certain real property located in the City
of Palm Springs ("Sale Property"), and described in Exhibit"A" of this Resolution in December,
1981 from the Desert Water Agency using Community Development Block Grant funds for the
purpose of developing affordable housing; and
WHEREAS, the City of Palm Springs acquired certain real property located in the City
of Palm Springs ("Sale Property"), and described in Exhibit "B" of this Resolution in April, 1984
from the Desert Water Agency also for the purpose of developing affordable housing; and '
WHEREAS, Sunset Hacienda Partners, LLP and its general partner, Coachella Valley
Housing Coalition, Inc. have proposed a quality affordable housing complex on the site and
have received the land use and architectural approvals from the City Council of the City of
Palm Springs at a July 3, 2002 public hearing; and
WHEREAS, the Community Redevelopment Agency of the City of Palm Springs also
approved a Disposition and Development Agreement ("DDA") with Sunset Hacienda Partners,
LLP and its general partner, Coachella Valley Housing Coalition, Inc. to facilitate the
development of the project and the application for a Low Income Housing Tax Credits, at a
July 3, 2002 public hearing; and
WHEREAS, the DDA acknowledges that the City currently owns the property but would
sell the property to the Agency, for the fair market value of $250,000, for the purpose of
effectuating the DDA; and
WHEREAS,the Agency, upon execution of this Agreement for Purchase and Sale of Real
Property and the Developers' receipt of Low Income Housing Tax Credits, shall convey the title
to the Developers in return for a Deed of Trust in the amount of $250,000, the value of the
property.
NOW,THEREFORE, BE IT RESOLVED BYTHE CITY COUNCIL OF THE CITY OF PALM
SPRINGS AS FOLLOWS: ,
Section 1. Recitals. The above recitals, and each of them, are true and correct.
Resolution 20389
Page 2
' Section 2. Agreement for Purchase and Sale of Real Property. The Agreement for
Purchase and Sale of Real Property between the City of Palm Springs and
the Community Redevelopment Agency of the City of Palm Springs, is
approved in a form acceptable to the City Attorney.
Section 3. The Grant Deeds approving the sale of parcels 669-500-013, 669-500-015,
and 669-500-017, in Tract 17642-1, from the City of Palm Springs, a
municipal corporation and charter city, to the Community Redevelopment
Agency of the City of Palm Springs, a public body, corporate and politic, are
hereby approved.
Section 4. The City Manager is hereby authorized to execute all documents related to
this transaction.
ADOPTED this 10th day of July , 2002.
AYES: Members Hodges, Mills, Oden, Reller-Spurgin and Mayor Kleindienst
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
City Clerk City Manag J'
REVIEWED & APPROVED AS TO FORM
1
Resolution 20389
Page 3
EXHIBIT"A" TO RESOLUTION '
LEGAL DESCRIPTION OF PARCELS
The Subject Parcels are located in the City of Palm Springs, County of Riverside, State
of California, more particularly described as follows:
APN: 669-500-015 and 669-500-017
A PORTION OF LOT 8 OF TRACT NO. 17642-1 ACCORDING TO MAP THEREOF
RECORDED IN BOOK 122, PAGES 88, 89, AND 90 OF MAPS, RECORDS OF RIVERSIDE
COUNTY, CALIFORNIA.
SUBJECT TO ALL EASEMENTS AND RIGHTS OF WAY OF RECORD IF ANY.
Resolution 20389
Page 4
EXHIBIT "B" TO RESOLUTION
LEGAL DESCRIPTION OF PARCELS
The Subject Parcels are located in the City of Palm Springs, County of Riverside, State
of California, more particularly described as follows:
APN: 669-500-013
LOT 7 OF TRACT NO. 17642-1 ACCORDING TO MAP THEREOF RECORDED IN
BOOK 122, PAGES 88, 89, AND 90 OF MAPS, RECORDS OF RIVERSIDE COUNTY,
CALIFORNIA.
SUBJECT TO ALL EASEMENTS AND RIGHTS OF WAY OF RECORD IF ANY.