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Home My WebLink About20704 - RESOLUTIONS - 7/30/2003 RESOLUTION NO. 20704 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, AUTHORIZING THE RELEASE OF A PORTION OF THE REAL PROPERTY ACQUIRED FOR THE DOWNTOWN PARKING STRUCTURE A04746 WHEREAS, the City of Palm Springs Financing Authority ("Authority") and the City of Palm Springs ("City") entered into a Lease Agreement, dated as of August 1, 2002 ("Lease Agreement') relating to that real property ("Property") which is currently used for the Downtown Parking Structure and which secures debt incurred by the City to pay acquisition and construction costs thereof; and WHEREAS, the City does not require all of the Property for the operation of the Downtown Parking Structure; and WHEREAS, Eileen C. and Thomas A. Adamo, who own real property adjacent to the Property, previously sold a portion of the Property to the Agency; and WHEREAS, pursuant to the Adamos' request, the City has agreed to sell and release a five hundred fifty (550) square foot portion of the Property ("Release Parcel") to the Adamos for thirteen thousand six hundred dollars ($13,600), a true and correct legal description and map of the Release Parcel being attached hereto as Exhibit "A" and incorporated herein by this ' reference; and WHEREAS, the disposal price for the Release Parcel was calculated pursuant to the per square fair market value determined by an appraisal performed by Dozier Appraisal Services; and WHEREAS, the Release Parcel is "exempt surplus land" pursuant to Government Code Section 54221(e)(2) because the Release Parcel is less than 5,000 square feet in area and because the Release Parcel is being sold to the owner of contiguous land; and WHEREAS, pursuant to Section 16 of the Lease, property covered by the Lease may be released from such coverage upon certain actions being taken to the satisfaction of the Letter of Credit Bank and the Confirming Letter of Credit; and WHEREAS, pursuant to said Section 16, the parties must amend the Lease before property may be released; accordingly, a true and correct copy of Amendment No. 1 to the Lease ("Lease Amendment No. 1") is on file in the Office of the City Clerk and incorporated herein by this reference; and WHEREAS, pursuant to said Section 16, the City must amend the Assignment Agreement by and between the Authority and BNY Western Trust Company before property may be released; accordingly, a true and correct copy of Amendment No. 1 to the Assignment Agreement by and between the Authority and BNY Western Trust Company ("Assignment Amendment No. 1") is on file in the Office of the City Clerk and is incorporated herein by this reference; and WHEREAS, pursuant to said Section 16, the City must provide an executed Certificate of ' the City Representative ("Certificate") before property may be released; accordingly, a true and correct copy of the Certificate is on file in the Office of the City Clerk and is incorporated herein by this reference; and 1003/001/24758 vl 1 ' WHEREAS, pursuant to said Section 16, the City must obtain an executed Consent and Waiver executed by the Letter of Credit Bank, and the Confirming Letter of Credit Bank ("Consent and Waiver") before property may be released; accordingly, a true and correct copy of the Consent and Waiver is on file in the Office of the City Clerk and is incorporated herein by this reference; and WHEREAS, the release will not become effective until the executed Consent and Waiver has been obtained; and WHEREAS, pursuant to said Section 16, the City must provide an opinion of special counsel stating that such amendment or modification (1) is authorized or permitted by the Constitution and laws of the State and by the Lease; (2) complies with the terms of the Constitution and laws of the State and of the Lease; (3) will, upon the execution and delivery thereof, be valid and binding upon the Authority and the City in accordance with its terms; and (4) will not cause the interest component of the Base Rental payments to be included in gross income for federal income tax purposes ("Legal Opinion") before property may be released; accordingly, a true and correct copy of the Legal Opinion is on file in the Office of the City Clerk and is incorporated herein by this reference; and WHEREAS, a minor alteration in land use which does not result in any changes in land use or density is categorically exempt from the California Environmental Quality Act ("CEQA"), such that the release is not a "project" under CEQA; and a Notice of Exemption has been prepared and will be posted for public review and comment in accordance with CEQA; ' NOW THEREFORE, it is hereby found, resolved, determined and ordered by the City Council of the City of Palm Springs as follows: Section 1. All of the facts set forth in the above recitals are true and correct and are incorporated herein by this reference. Section 2. It is hereby determined that (a) in disposing of the Release Parcel to the Adamos for the consideration stated above, the City will be obtaining fair market value for the property and (b) the Adamos, as the adjacent property owner, are the only entity who could acquire the Release Parcel and not create a substandard parcel not meeting the requirements of the zoning ordinance. Section 3. Lease Amendment No. 1 is hereby approved and the City Manager is hereby authorized and instructed to execute same on behalf of the City. Section 4. Assignment Amendment No. 1 is hereby approved and the City Manager is hereby authorized and instructed to execute same on behalf of the City. Section 5. The City Manager and his designee are authorized to execute any and all additional documents necessary and to grant any and all other approvals necessary to the release and reconveyance of the Release Parcel to the Adamos. Section 6. The Adamos shall take appropriate action to merge the Release Parcel with Adamos' other property so that the Release Parcel cannot be conveyed separately from such property. ' Section 7. Adoption of this ordinance is not subject to CEQA by virtue of Public Resources Codes § 21083, 21084 and 21087 and CEQA Guideline 15305, as a minor alteration 1003/001/24758 vl 2 Resolution 20704 Page 3 in land use which does not result in any change in land use or density and which is therefore categorically exempt from CEQA. ADOPTED this 30th dayof July 2003, AYES: Members Hodges, Reller-Spurgin and Mayor pro tern Oden NOES: None ABSENT: Member Mills and Mayor Kleindienst. CITY OF PALM SPRINGS, CALIFORNIA T City Clerk City Manager REVIEWED &APPROVED: 10031001/24758 vl 3 Resolution 20704 Page 4 EXHIBIT "A" PARCEL A: That portion of lot 19 of Block 28 of Palm Springs Townsite as recorded In Map Book 9 at Page 432, Records of San Diego County, California, described as follows: Commencing at the northwest comer of said lot 19; Thence South 89'5248"East along the north line of said lot 19 a distance of 62.62 feet said point also being the TRUE POINT OF BEGINNING; Thence South 00°0527"East a distance of 25.01 feet; Thence North 8905248"West a distance of 22.00 feet; Thence North 00005'27"West a distance of 25.01 feet; Thence South 8905248"East a distance of 22.00 feet to the true point of beginning. OFESSNiv, �O �p J. 84R F * No. C-28931 Exp.03-31-200� `S`T,9r C I V P OF spy DATE: FILE NO.: 513-154-025 SHEET NO.: 1 OF 2 Resolutibn 20704 Page 5 EXHIBIT "B" 1 w w LOT 5 N OTi9 LOT 20 � P.O.C. S89'52'48"E T.P.O.B. z w ��-62.62' w z 00 0 O� Za LOT6ll � LOT I bIQ U z } > z U J LOT 7 LOT IS Q Q n Z ESS QUO �p J.BqR F a 1i LINE DATA * No. C-26931 � QOI DELTA I LENGTH I Exp.03-31-2007 1Q S00'05'27"E 25.01' srgr C I v 1\1 F OF 2 S89'52'48"E 22.00' DATE: pALM APPROVED: ( 03 °` sP CITY OF PALM SPRINGS DATE PUBLIC WORKS & ENGINEERING 28931 * DEPARTMENT DIREc Ri PUBLIC WORKS/ R.C.E. �[IFam+�e CITf ENGINEER LEGAL DESCRIPTION: DESIGN BY: SCALE: FILE NO.: JRM 1" = 60' 513-154-025 CHECKED BY: W.O. SHEET NO.: 1 � MLF 2 OF 2