HomeMy WebLinkAbout20682 - RESOLUTIONS - 7/30/2003 RESOLUTION NO. 20682
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, ,
CALIFORNIA APPROVING THE AGENCY DISPOSITION OF
PROPERTY IN A RESTATED AND AMENDED LEASE
AGREEMENT WITH THE PARTNERSHIP FOR THE
PERFORMING ARTS, L.P., INCLUDING AMENDMENTS AND
SUBLEASES WITH PLAZA INVESTMENT CO., INC. AND
THE WESSMAN FAMILY TRUST TO EFFECTUATE THE
CONTINUED LEASE AND OPERATION OF THE FOLLIES AT
THE PLAZA THEATER, IN MERGED PROJECT AREA# 1
A437C, A4410 and A467C
WHEREAS,the Community Redevelopment Agency of the City of Palm Springs, California
("Agency")is constituted under the Community Redevelopment Law(California Health and
Safety Code Section 33000 et. sea.)to carry out the purpose as the redevelopment in the
City of Palm Springs ("the City"); and
WHEREAS, the Community Redevelopment Law requires the City to approve all Agency
dispositions of property including leases; and
WHEREAS,the Agency acquired ownership interest in the Plaza Theater Properly from the
City in 1998 and has continued in the original Lease to the Partnership for the Performing
Arts L.P. ("PFPA").
WHEREAS, both parties wish to amend and restate the: Lease based on its actual
operations and clarifying new developments since the original Lease; and
WHEREAS,operation of the theater requires a sublease from the Agency of certain property
known as the"Alley'owned by Plaza Investment Co., Inc. and as well as a sublease in the
Agency's interest in the Courtyard owned by the Wessman (Family Trust; and
WHEREAS, the continued operation of the theater provides a economic revitalization
element to the downtown area of the City thereby carrying out a purpose of the
redevelopment plan; and
WHEREAS, Section 33430 of the Community Redevelopment Law allows that an agency
may, "for purposes of redevelopment, sell, lease, for a period not to exceed 99 years,
exchange, subdivide, transfer, assign, pledge, encumber by mortgage, deed of trust, or
otherwise, or otherwise dispose of any real or personal property or any interest in property;"
and
WHEREAS, pursuant to Section 33433 of the Community Redevelopment Law, Notices of
the Public Hearing concerning the Restated and Amended Lease Agreement and the
attached Sublease Agreements were published in accordance with applicable law; and
WHEREAS,the California Redevelopment Law requires certain findings before the Agency
can enter into this Amendment, as follows:
a) Section 33421.1 - that the City find that the provision of such assistance will
effectuate the Redevelopment Plan;
b) Section 33433 — the City finds that although the rent proposed herein in the
Restated and Amended Lease Agreement and the Sublease of the Business
Property Lease (Alley)as well and the Courtyard Sublease are slightly less than
fair market value, that without Agency Assistance the proposed use of the
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Resolution 20682
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Theater would not be feasible and therefore it is necessary to provide
' Agency financial assistance to encourage the economic revitalization
of the plan area.
WHEREAS,the City has considered the staff report, and all the information,testimony and
evidence provided during the public hearing on July 30, 2003.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Palm Springs as
follows:
SECTION 1. The above recitals are true and correct and incorporated herein.
SECTION 2. Pursuant to the California Environmental Quality Act (CEQA), the
Community Redevelopment:Agency finds that this project is exempt
pursuant to California Code of Regulations Section 15301 as it
concerns an existing facility.
SECTION 3. The City hereby approves the Restated and Amended Theater Lease
Agreement with the PFPA.
SECTION 4. The City hereby approves the First Amendment to the Business
Property Lease with Plaza Investment Co., Inc. and the Sublease
Agreement to PFPA.
SECTION 5. The City hereby approves the Restated and Amended Lease
' Agreement (Courtyard) with the Wessman Family Trust and the
Sublease Agreement to PFPA.
SECTION 6. The approval of the above listed agreements collectively effectuates
the purposes of the Community Redevelopment Law as it is intended
to eliminate blight and promote the health,safety and general welfare
of the people of Palm Springs by encouraging economic activity in
the redevelopment plan area.
ADOPTED this 30th day of July 2003.
AYES: Members Hodges, Reller-Spurgin and Mayor pro tem Oden
NOES: None
ABSENT: Member Mills, and Mayor Kleindienst
ATTEST:
CITY OF PALM SPRINGS, CALIFORNIA
City Clerk City Manager
REVIEWED & APPROVED AS TO FORM