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HomeMy WebLinkAbout7/18/2001 - STAFF REPORTS (2) DATE: JULY 18, 2001 TO: CITY COUNCIL FROM: REDEVELOPMENT DIRECTOR PUBLIC HEARING FOR THE SALE OF AN 22.21 ACRE CITY-OWNED PARCEL TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS FOR THE PURPOSE OF ASSEMBLING LAND FOR AN AGENCY DISPOSITION AND DEVELOPMENT AGREEMENT (DDA) RECOMMENDATION: It is recommended that the City Council approve the sale of a City-owned 22.21 acre parcel near Sunrise Way and San Rafael Road to the Community Redevelopment Agency. SUMMARY: This action is one of a series working toward an Agency DDA with Burnett Development to sell the 22.21 acre City-owned parcel and 19.17 acre Agency-owned parcel to the Developer at fair market value, for the purpose of constructing a single- family-home subdivision. The purpose of this action is to convey the City-owned parcel to the Agency so that the Agency may, once the mobile home park is divided, enter into the Disposition and Development Agreement with Burnett. For the purposes of this sale, the Agency would not pay the City cash, but would rather make a Promissory Note committing to pay the City a pro rata share of the overall sale proceeds based on the previously-agreed sales price. BACKGROUND: In November, 2000, City Council considered an offer from Burnett Development for a 22.21 acre parcel near Sunrise Way and San Rafael Road. Burnett offered the appraised value of $0.45 per square foot, or$465,000 for the parcel, and intends to assemble additional land for a major single family home development in the area. Under this Purchase and Sale Agreement, this City-owned parcel is to be sold to the Community Redevelopment Agency, which would convey it to Burnett under a separate Disposition and Development Agreement later this year. The Agency will reimburse the City when the DDA is executed but will execute a promissory note prior to the deal with Burnett being finalized. The City would retain reverter rights under the sale. This action is part of a three-step process in selling City-owned parcels: (1) Council has directed the negotiator as to price and terms in Closed Session; (2) Council, at its July 5, 2001 meeting, adopted a resolution expressing its intention to sell the property and setting the date of the Public Hearing, and the City publishes a notice of Public Hearing; and (3) Council approves the Agreement for Purchase and Sale of Real Property, as well as a resolution accepting the terms of the sale. The attached resolution is the final step in this process. The listed sale price was determined by an MAI appraisal conducted by Mackenzie Wagner&Associates of Palm Desert. The price is fair market value. The process meets the requirements of Resolution 14527, which requires that the City sell all land at fair market value. The sale of this parcel meets the other tests of Resolution 14527: C kh 1. There is no foreseeable present or future use of the property for City purposes. 2. The property cannot be leased or rented for its highest and best use at fair market rental. 3. The City's need for immediate liquidation, for cash, of such property-- at its fair market value -- is greater than its need for developing continuing revenue through a potential lease of such property. JOH-'N S. RA MOND Director of �developmen� APPROVED: City Manager ATTACHMENTS: 1. Resolution Pursuant to Section 37421, et. seq. 2. Legal Description of Property 3. Public Hearing Notice 4. Agreement for Purchase and Sale of Real Property AbAl 4TJM J //b, fil8, 7120 - wm Y k♦ 1 I a Public Notice Public Notice illy Fun, i,990 e-aen sits 'arontyl No.6666 CITY OF PALM SPRINGS e-oeit NOTICE OF PUBLIC HEARING tl oszifi* NOTICE IS HEREBY GIVEN that the City of Palm {� Springs will hold a Public Hearingg in the City f_ Counctl Chamber.,located at 3200 Reach? Can- d, you Way, Palm Springs, California 92262, begin- ning at 700 p.Mr, Wednesday, July 13, 2001, to P NO consider the following' P T Sale of a 2221 acre parcel located north of San 21 Rafael Road and west of Sunrise Way to the A -. Community Redevelopment Agency of the City of N Palm Springs for the purpose of combining the A parcel with a 19.17 acre parcel for the purpose of q entering a Disposition and Development Agree- ment with a tleveloper for the entire 41.38 acre A parcel. S, Cl Government Code Section 37421 at. C seq. allows the City of Palm Springs to sell sur- P plus Property for fair market value, but requires No that the City first set a date of the public hearingg at which the public may make testimony regard- ing the sale. The resolution setting the Public Hearing date for July 19, 2001 was adopted on AN r July 5,2001. CIT INC In November, 2000, City Council considered an THI r offer from a private developer for the 22.21 acre SIR parcel.The developer offered the appraised value SOI and intends to assemble additional land for a in, AT or single tamely home development in the area EN( his Qtyy-owned parcel is to be sold to the Com- STF or mmil Hedevelopmenl Agency,which would con- CA: vey i1 under a Disposition and Development Agreement.The Agency would reimburse the City WHI )r when the DDA was executed but would execute a Desi promissory note prior to the deal with the devel- 2001 is oper being finalized.The City would retain revert- side, at rights under the sale ATE; proje ;f This action is part of a three-step process in sell- ing auditor owned parcels:(te Council dyed the no- WH6 Fcreator as to price and terms in Closed Session; olutio 112 Council adopts a resolution expressing its in- e tntion to sell the , and ty and sspub l the date of WHET the Public Hearing, and the City puh lshes notice the re of Public Hearing; and (3) Counctl approves the Agreement for Purchase and Sale of Reel Proper- burl A ty, as well as a resolution accepting the terms of that t that the sale. deter ant The listed sale price was tlaiir market by an TMAIhe Nags appraisal and the price i fair market value. The been process meets the regnet th C of Resolution 14527,for which requires that the City sell all lend WHE for fair market value.The sale of this parcel meets hear the other tests of Resolution 14527: men Ice 1. There is not foreseeable present a future use NOV of the property for City purposes. Ccu 2.The property cannot be leased or rented for its Des highest and best use at fair market rental. 1.T 3. The City's need for immediate liquidation, for and cash, of such property-at Its fair market value-is this greatere for the lease o such prop".development continuing ng q revenue inept to of All interested persons are Invited to attend the is in- Public Hearing and express opinions on the item Exl, iodon listed above. if you challenge the nature of the 13 add- proposed action in court, you may be limited to Off, raising only those issues you or someone else 73- raised at the Public Hearing described in this no- nia 100 tice,or w written correspondence delivered to the the e City Clerk,at the address listed above, at or Prior 3 - to the Public Hearing. for, aq in '- Members of the pubhc may view this document let and all referenced documents in the Community Pa Redevelopment Department,City Hall,and submit an ,nsoli- written comments to the Commuri Development cut for Agency at or prior to the Community Redevelop- PF and of ment Meeting at or prior to the public hearing de- D< -.Man scnbed in this notice. b� make A exam_ Further information, including a copy of the Nk please Agreement and Resolution, prepared in actor- At avelop- dance with California Government Code Section At Indio, 37421 et.seq.,is available in the Office of the City may be Clerk, at the above address. A an 5 00 SI PATRICIA A. SANDERS,City Clerk Cr PUB. July S, 13, 2001 PI r�a�- 3 AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY THIS AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY ("Agreement') is made this_ day of , 2001 ("Effective Date"), by and between the City of Palm Springs, a California municipal corporation ("City") and the Community Redevelopment Agency of the City of Palm Springs, a public body, corporate and politic ("Agency"). RECITALS: A. The City is the owner of that certain real property and improvements and easements thereon consisting of approximately nine hundred sixty-seven thousand four hundred seventy six (967,476) square feet located at west of Sunrise Way and north of San Rafael Road in the City of Palm Springs ('Parcel Q"). B. City acquired Parcel Q in 19_ by Deed #_from for the purposes of constructing low-income housing on the site. Parcel Q was part of a 100-acre site acquired for that purpose. Over the past 35 years, several low-income or deed-restricted projects have been constructed on the site, including Sunrise Norte, Coyote Run, and Sunrise Village Mobile Home Park. C. In 1995, the Agency acquired an adjacent parcel from the City, ("Parcel R") which contains the Sunrise Village Mobile Home Park and a vacant 19.17 acres, for a total of $1,510,000. The Agency has now proposed moving the lot line on Parcel R to add the unused portion of Parcel R to Parcel Q, and convey the new combined Parcel Q (Combined Parcel) to a private developer for the purposes of constructing market-rate housing. The fee interest in the remaining Parcel R, the Mobile Home Park, would be sold to a non-profit corporation specializing in renovating and managing mobile home parks. D. The Agency desires to enter a Disposition and Development Agreement with a developer ("Developer") for the development of Parcel Q, and wishes to enter a Disposition and Development Agreement with the non-profit for the sale and conversion of the Mobile Home Park (Parcel R). E. On 2001, and pursuant to Government Code Section 37421 et seq., the City Council of the City ("City Council') duly adopted Resolution No. finding that the sale of the Parcel Q is in the public interest insofar as its rehabilitation will aid in the elimination of blighted conditions on the Combined Parcel, provide for aesthetic improvements thereon, and provide substantial economic benefits through the development of market rate housing. The City Council, pursuant to Resolution No. further found that the sale price of Reservoir Parcel is based on an appraised fair market value, and approved the sale of the Reservoir Parcel to the Agency. F. Pursuant to Government Code Section 33391, the Agency is authorized to acquire property within the City of Palm Springs. G. In order to facilitate the DDA, Agency wishes to purchase the Parcel Q from City and City wishes to sell the Parcel Q pursuant to the terms and conditions of this Agreement. Purchase and sale of parcel q a07/06/1 1 C M4 r H. Upon sale to the Developer through a DDA, the Agency will reimburse the City for the City's pro rafa share of the overall sale proceeds of the combined parcel, based on the appraised value of $0.48 per square foot or$465,000. The sale price is net of expenses, such as fees or commissions, incurred during the sale. I. City and Agency are desirous of authorizing a Developer to construct a single family home development on the Combined Parcel. NOW, THEREFORE, in consideration of the mutual covenants and conditions contained herein and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereby agree as follows: TERMS AND CONDITIONS 1. PURCHASE AND SALE OF PROPERTY. Subject to all of the terms, conditions and provisions of this Agreement, and for the consideration herein set forth, City hereby agrees to sell to Agency and Agency hereby agrees to purchase from City the City's fee interest in that certain real property known as Parcel Q, as more specifically described at Exhibit "A", attached hereto and made a part hereof. Conveyance of Parcel Q from the City to the Agency shall be by Grant Deed in the form attached hereto as Exhibit "C". 2. PAYMENT OF PURCHASE PRICE. 2.1 Purchase Price. Agency agrees to purchase the Parcel Q from City and City agrees to sell the Parcel Q to Agency for a purchase price ("Purchase Price") to be determined at the time of sale to the Developer through a Disposition and Development Agreement ("DDA"). The Purchase Price shall be based on the fair market value of the Parcel Q, as confirmed by an appraisal prepared for the City. The City shall make a certain Promissory Note described at Section 3.1 below for payment of the Purchase Price. The Purchase Price shall be 56% of the overall sale proceeds, net of expenses, of the Combined Parcels, based on the relative square footage of the Parcel Q and the Combined Parcels. 2.2 Time of Payment. The entire Purchase Price shall be paid upon the Effective Date of the Disposition and Development Agreement between the Agency and the Developer. 2.3 Costs of Sale. All costs of sale shall be borne equally between the parties. 3. BALANCE PAYABLE TO CITY. 3.1 Agency Indebtedness. The Agency agrees to execute a Promissory Note ("Agency Note") for the Purchase Price. A copy of the Agency Note is attached hereto and incorporated herein as Exhibit"B". 4. NO WARRANTIES. Purchase and sale of parcel q a07/06/1 2 � 4.1 "AS-IS" Sale. Except as set forth in this Agreement, Agency acknowledges that neither City nor any of its employees, agents or representatives has made any representations, warranties or agreements to or with Agency on behalf of City as to any matters concerning Parcel Q, the physical condition, the present use thereof, the merchantability, or the suitability of City's intended use of Parcel Q. Agency further acknowledges and agrees that (with the exception of the representations and warranties by City herein) Parcel Q is to be purchased, conveyed and accepted by Agency in its present "AS-IS" condition. 4.2 Changed Circumstances. If City becomes aware of any fact or circumstance which would change or render incorrect, in whole or in part, any representation or warranty made by City under this Agreement, whether as of the date given or within four(4) months thereafter and whether or not such representation or warranty was based upon City's knowledge and/or belief as of a certain date, City will give immediate written notice of such changed fact or circumstance to Agency. Agency shall have ten (10) days from the receipt of any notice by City of the material change of any representation or warranty made by City hereunder to terminate this Agreement by providing written notice to City, and receive return of its Purchase Price and any other sums paid to City under this Agreement. 4.1 Non-foreign Status. Seller hereby represents and warrants that it is not a person or entity defined as a "foreign person" under the Internal Revenue Code and regulations promulgated thereunder. Seller shall execute a certification of non-foreign status if necessary. 4.2 Nonrecourse Obligation. No officer, official, member, employee, agent, or representative or Agency or City shall be liable for any amounts due hereunder, and no judgment or execution thereon entered in any action herein shall be personally enforced against any such officer, official, member, employee, agent, or representative. 5. RIGHT OF REVERTER. The City shall have the right to reenter and take possession of Parcel Q with all improvements thereon and to terminate and revest in the City Parcel Q, if Parcel Q reverts to the Agency pursuant to the terms of the DDA or if the Agency and Developer fail to execute the DDA within 270 days of the date of this Agreement. 6. MISCELLANEOUS. 6.1 Successors. This Agreement shall be binding upon the parties hereto and their respective heirs, representatives, transferees, successors and assigns. The obligations of City under this Agreement shall inure to the benefit of Agency, any purchaser of Agency, and their respective heirs, representatives, transferees, successors and assigns. 6.2 Time of Essence. Time is of the essence in this Agreement and with respect to each covenant and condition hereof. City and Agency each specifically agrees to strictly comply with and perform its obligations herein in the time and manner specified and waives any and all rights to claim such compliance by mere substantial compliance with the terms of this Agreement. 6.3 Time Period Computations. All periods of time referred to in this Agreement shall include all Saturdays, Sundays and California state or national holidays unless the reference is to business days, in which event such weekends and holidays shall be excluded in Purchase and sale of parcel q a07/06/1 3 C • a 4 i the computation of time and provide that if the last date to perform any act or give any notice with respect to this Agreement shall fall on a Saturday, Sunday or California state or national holiday, such act or notice shall be deemed to have been timely performed or given on the next succeeding day which is not a Saturday, Sunday or California state or national holiday. 6.4 Interpretation; Governing Law. This Agreement shall be construed according to its fair meaning and as if prepared by both parties hereto. This Agreement shall be construed in accordance with the laws of the State of California in effect at the time of the execution of this Agreement. Titles and captions are for convenience only and shall not constitute a portion of this Agreement. As used in this Agreement, masculine, feminine or neuter gender and the singular or plural number shall each be deemed to include the others wherever and whenever the context so dictates. 6.5 No Waiver. No delay or omission by either party hereto in exercising any right or power accruing upon the compliance or failure of performance by the other party hereto under the provisions of this Agreement shall impair any such right or power or be construed to be a waiver thereof. A waiver by either party hereto of a breach of any of the covenants, conditions or agreements hereof to be performed by the other party shall not be construed as a waiver of any succeeding breach of the same or other covenants, agreements, restrictions or conditions hereof. 6.6 Modifications. Any alteration, change or modification of or to this Agreement, in order to become effective, shall be made by written instrument or endorsement thereon and in each such instance executed on behalf of each party hereto. 6.7 Severability. If any term, provision, condition or covenant of this Agreement or the application thereof to any party or circumstances shall, to any extent, be held invalid or unenforceable, the remainder of this instrument, or the application of such term, provision, condition or covenant to persons or circumstances other than those as to whom or which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 6.8 Merger of Prior Agreements and Understandings. This Agreement, and other documents incorporated herein by reference contain the entire understanding between the parties relating to the transaction contemplated hereby and all prior or contemporaneous agreements, understandings, representations and statements, oral or written, are merged herein and shall be of no further force or effect. 6.9 Execution in Counterpart. This Agreement and any modifications, amendments or supplements thereto may be executed in several counterparts, and all so executed shall constitute one agreement binding on all parties hereto, notwithstanding that all parties are not signatories to the original or the same counterpart. 6.10 Authorization. By official action of the City Council and the board of the Community Redevelopment Agency of the City, City and Agency, respectively, has authorized the entering into this Agreement by such party and the signing of this Agreement by the City Manager on behalf of City, and by the Agency Executive Director on behalf of Agency. Purchase and sale of parcel q a07/06/1 4 IN WITNESS WHEREOF, the parties hereto have executed this Agreement of Purchase and Sale of Property as of the date set forth above. "AGENCY" COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a public body, corporate and politic By: Chairman ATTEST: Agency Secretary APPROVED AS TO FORM: Agency Counsel "CITY" CITY OF PALM SPRINGS, a California municipal corporation By: City Manager ATTEST: City Clerk APPROVED AS TO FORM: City Attorney w 6 raw g Purchase and sale of arcel a07 P 9 ,06,1 5 cret EXHIBIT "A" LEGAL DESCRIPTION OF PARCEL Q The Land is that certain real property located in the City of Palm Springs, County of Riverside, State of California, more particularly described as follows: PARCEL Q LOTS 9 AND C, OF TRACT NO. 17642-1, AS SHOWN BY MAP ON FILE IN BOOK 122 PAGE(S) 88, 89 AND 90 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; EXCEPTING THEREFROM THAT PORTION THEREOF LYING WITHIN TRACT NO. 26943-1, AS SHOWN BY MAP ON FILE IN BOOK 235 PAGE(S) 84 AND 85 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; ALSO EXCEPTING THEREFROM THE EASTERLY 920 FEET OF LOT C; ALSO EXCEPTING FROM LOT C THAT PORTION THEREOF CONVEYED TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, A PUBLIC BODY, CORPORATE AND POLITIC, BY DEED RECORDED APRIL 25, 1996 AS INSTRUMENT NO. 148930 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. EXHIBIT "A"TO AGREEMENT FOR PURCHASE aAND SALE OF REAL PROPERTY Purchase and sale of parcel q a07/06/1 1 DO NOT DESTROY THIS NOTE: When paid, this Note, with the Deed of Trust securing same, must be surrendered to Trustee for cancellation before reconveyance will be made. PROMISSORY NOTE SECURED BY DEED OF TRUST August_, 2001 Palm Springs, California FOR VALUE RECEIVED, the undersigned ("Maker") hereby promises to pay to the CITY OF PALM SPRINGS, a public body, corporate and politic ("Holder"), at a place designated by Holder, the principal sum of DOLLARS ($ ), together with interest thereon at six percent (6%) per annum commencing on August , 2001 ('Interest Accrual Commencement Date")- 1. Repayment by Maker. Maker shall pay monthly installments of principal and interest in the amount of ($ ) each to Holder in lawful money of the United States, commencing on the first day of the first full calendar month following the calendar month during which the Interest Accrual Commencement Date occurs and continuing on the first day of each calendar month thereafter until principal and interest has been fully paid; provided that the payment due on the first day of the first full calendar month following the calendar month during which the Interest Accrual Commencement Date occurs shall be prorated based on a thirty (30) day month. If not sooner paid, the unpaid principal balance and accrued interest hereunder shall be due and payable five years from the Interest Accrual Commencement Date. Any payments made by Maker in payment of this Note shall be applied first to the interest then accrued and due on the unpaid principal balance under this Note, and the remainder of each payment shall be applied to the reduction of the unpaid principal. 2. Prepayment. This Note may be prepaid in whole or in part at any time without penalty. 3. Note Secured by Deed of Trust. This Note is secured by a Grant Deed and Assignment of Rents of even date herewith, encumbering certain real property located in the County of Riverside, State of California, more particularly described therein ('Property"), and any other instruments, now or hereafter executed by Maker in favor of Holder, which in any manner constitute additional security for this Note ("Grant Deed"). 4. Purchase and Sale Agreement. This Note is executed by Holder pursuant to the terms of the Agreement for Purchase and Sale of Real Property ("Agreement') of even date. This Note shall be subject to the terms of the Agreement and any term therein shall supercede any inconsistent term in this Note. 5. Late Charge. Maker agrees that if Maker fails to make any payment provided for herein more than ten (10) days after the due date thereof, it would be impracticable or extremely difficult to fix the actual damages resulting therefrom to Holder, and, therefore, Maker hereby agrees to pay to Holder a late charge equal to five percent (5%) of any payment which is not made within ten (10) days after the due date thereof, not as a penalty, but for the purpose of defraying the expenses incident to handling such delinquent payment. Such late Purchase and sale of parcel q a07/06/1 ], Q 02166 0 charge represents the reasonable estimate of a fair average compensation for the loss that may be sustained by Holder due to the failure of Maker to make timely payments. Such late charge shall be paid without prejudice to the right of Holder to collect any other amount provided to be paid or to declare a default under this Note or the Grant Deed securing same. Such late charge shall be payable not later than thirty (30) days after the due date of the delinquent payment and shall be secured by the Grant Deed. 6. Acceleration of Obligation. Upon the failure to make payment of any installment due under this Note as and when the same becomes due and payable (whether by extension, acceleration or otherwise), or in the event of default under the Grant Deed, or any breach of any other promise or obligation in this Note or in any other instrument now or hereafter securing the indebtedness evidenced hereby, then, and in any of such events, Holder may, at its option, declare this Note and the entire indebtedness hereby evidenced, including, without limitation, all accrued interest, to be immediately due and payable and collectible then or thereafter as Holder may elect, regardless of the date of maturity, and notice of the exercise of said option is hereby expressly waived by Maker. 7. Due on Sale; Due on Encumbrance. In the event Maker shall, directly or indirectly, voluntarily or involuntarily, sell, enter into a contract of sale, assign, transfer, dispose of, alienate or further encumber or agree to sell, enter into a contract of sale, alienate, assign, transfer or dispose of all or any portion of any interest in the property which is the subject of the Grant Deed without obtaining Holder's prior written approval, then, or at any time thereafter, Holder, at its option, may declare the entire indebtedness evidenced hereby immediately due and payable. 8. Non-Recourse. Notwithstanding anything to the contrary herein contained, (i) the liability of Maker shall be limited to its interest in the Property and any rents, issues, and profits arising the Property and, in addition, with respect to any obligation to hold and apply insurance proceeds, proceeds of condemnation or other monies hereunder, any such monies received by it to the extent not so applied in accordance with the terms of this Note; (ii) no other assets of Maker shall be affected by or subject to being applied to the satisfaction of any liability which Maker may have to Holder or to another person by reason of this Note; and (iii) any judgment, order, decree or other award in favor of Holder shall be collectible only out of, or enforceable in accordance with, the terms of this Note by termination or other extinguishment of Maker's interest in the Property. 9. Severability. The unenforceability or invalidity of any provision or provisions of this Note as to any persons or circumstances shall not render that provision or those provisions unenforceable or invalid as to any other provisions or circumstances, and all provisions hereof, in all other respects, shall remain valid and enforceable. 10. Modifications. Neither this Note nor any term hereof may be waived, amended, discharged, modified, changed or terminated orally; nor shall any waiver of any provision hereof be effective except by an instrument in writing signed by Maker and Holder. No delay or omission on the part of Holder in exercising any right hereunder shall operate as a waiver of such right or of any other right under this Note. 11. No Waiver by Holder. No waiver of any breach, default or failure of condition under the terms of this Note or the Grant Deed or the obligation secured thereby shall be implied from any failure of the Holder of this Note to take, or any delay be implied from any Purchase and sale of parcel q a07/06/1 2 Q ra`bow II failure by the Holder in taking action with respect to such breach, default or failure from any prior waiver of any similar or unrelated breach, default or failure. 12. Usury. Notwithstanding any provision in this Note, Grant Deed or other document securing same, the total liability for payment in the nature of interest shall not exceed the limit now imposed by applicable laws of the State of California. 13. Governing Law. This Note has been executed and delivered by Maker in the State of California and is to be governed and construed in accordance with the laws thereof. IN WITNESS WHEREOF, Maker has executed this Note as of the date and year first above written. "Maker" COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a California municipal corporation By: Chairman ATTEST: Agency Secretary APPROVED AS TO FORM: Agency Counsel b • / z Purchase and sale of parcel q a07/06/1 3 EXHIBIT "C" GRANT DEED FREE RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: CITY OF PALM SPRINGS, CALIFORNIA 3200 East Tahquitz Canyon Way Palm Springs, California 92263 Attn: David J. Aleshire Order No. GRANT DEED FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, CITY OF PALM SPRINGS, a public body, corporate and politic hereby grants to the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a California municipal corporation, the real property in the City of Palm Springs, County of Riverside, State of California, described in Exhibit "I" attached hereto and incorporated herein, by reference subject to the existing easements, restrictions and covenants of record thereon (the 'Property"). Dated: COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a California municipal corporation By: Chairman ATTEST: Agency Secretary EXHIBIT "C" TO AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY Purchase and sale of parcel q a07/06/1 ]. CrGZ.. L • 1 � EXHIBIT "1" LEGAL DESCRIPTION OF PARCEL Q Parcel Q is located in the City of Palm Springs, County of Riverside, State of California, more particularly described as follows: PARCEL Q LOTS 9 AND C, OF TRACT NO. 17642-1, AS SHOWN BY MAP ON FILE IN BOOK 122 PAGE(S) 88, 89 AND 90 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; EXCEPTING THEREFROM THAT PORTION THEREOF LYING WITHIN TRACT NO. 26943-1, AS SHOWN BY MAP ON FILE IN BOOK 235 PAGE(S) 84 AND 85 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; ALSO EXCEPTING THEREFROM THE EASTERLY 920 FEET OF LOT C; ALSO EXCEPTING FROM LOT C THAT PORTION THEREOF CONVEYED TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, A PUBLIC BODY, CORPORATE AND POLITIC, BY DEED RECORDED APRIL 25, 1996 AS INSTRUMENT NO. 148930 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. Purchase and sale of parcel q a07/06/1 _z- c ra • 61opi EXHIBIT "B" TO EXCLUSIVE AGREEMENT TO NEGOTIATE MAPS OF THE PROPERTY M. 3/4' I.P. OPEN f APHA�NT 1 n' N 89'52'35W 2082.00 EXIST, DWA WELL STIES m m Zia �- y N BW52'35^N 1112.0 I 1 �- N 8552'35W 970.00 —� �. / N 89'52'35 W 650.00 1 LOT 9 �Q I LOT+-' M 139.84Q 39'0TEi:. I' <Q �� P�rxR«E►50"m Q L 0 Q PORTION LOT 9 0 Q TR. 17642-1 a <'Q °q... MB. 122/86-90 - - 31 24' PARCEL Q �c" 2 =Cr• �' VACANT - -u na• 'FS TiT4 1 J' / LOT 2 N B9.52'35W 1182.99 = `, COYOTE SPRINGS _ APARTMENTS 1 NOT A PART ID. ML k TIN II PARCEL R r 1, NORTH HALF VACANT tI DIRT ROADS/� I TRAILS (T1'P) LOT 1TR. 26943-1 o I dDm MB. 235/84-85 AM«Psoa-on ZONE C LI I I G ! � -41C�k9�°;wdET31�1{' �f,,: ; ' bQ �l mil �n `? W n ~ EXIST. MWBILE IHOME PARK N II I RS 65/33 1 ���------III PARCEL R I I m AN«/i00-0Ol 1 0 I I I 70 I 1^6Mti I I I I TR. 17642-1 I I MB. 122 88-90 fig• 11 I I \ I I , I I N 00'09'07'E -- - - 9 147.00 d/1O��I`^'I I 1152.00 `�" —� � I\ 5 52 1` ,— sAv rArui + 1 �-- N 89'52'35'W 2150.93 FD. NNL h TIN \ Ao JUL R :c� PROOF OF PUBLICATION This is space for County Cleil Filing stamp (2015.5.C.C.P) No 8686- _--- -- - - -_ - - CITY OF PALM SPRINGS NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the City of Palm Spnings will hold a Public Hearingq in the City Council Chambers, located at 3200 Tampulla Can- STATE OF CALIFORNIA you Way, Palm Springs, California 92262, begin- ning at 7:00 p.m., Wednesday, July 18, 2001, to County of Riverside - - -e���ai.wr me:ouewA.a.--_ -------- -- - - Se. of a 22.21 acre parcel located north of San' Rafael Road and west of Sunrise Way to the Community Redevelopment Agency of the City of Palm Springs for the purpose of combining the parcel with a 19.17 acre parcel for the purpose of entering a Disposition and Development Agree- ment with a developer for the entire 41.38 acre parcel California Government Code Section 37421 at, seq. allows the City of Palm Springs to sell sur- plus property for fair market value, but requires I am a citizen of the United States and a resident of that the Giy first seta date of the public hearing at which the public may make testimony regard- the Comity aforesaid; I am over the age of eighteen in the sale The resolution setting the Pubuu Hearing date for July 18. 2001 was adopted on years,and not a party to or interested in the July 5, zoo1. !! above-entitled matter.I am the principal clerk of a In November, 2000, City Council considered an tinter of the,DESERT SUN PUBLISHING offer from a private developer for the 22.21 acre P paioel The developer offered the appraised value COMPANY a newspaper of general circulation, and intends to assemble additional land for a ma- a single family home development in the area. printed and published in the city of Palm Springs, 4hia at -owned parcel is m be cold to me coin-', munity Redevelopment Agency,which would ieg County of Riverside,and which newspaper has been vey a under a Disposition and Developmant adjudged a newspaper of general circulation by the when the DDA wag e..wtedl but wo ld e.e..City a a Superior Court of the County of Riverside,State of promissory note prior to the deal with the devel- oper being finalized.The City would retain revert- California under the dale of March 24,1988.Case ei rights under the sale. Number 191236;that the notice,of which the This action is part of a three-step process in sell- ing City-owned parcels:(1)Courcil directs the ne- anneXed is a printed copy(set in type not smaller gotiator as to price and terms in Closed Session; than non porter,has been published in each regular (2) Council adopts a resolution expressing its in- tention to sell the property and s.itin, the date of and entire issue of said newspaper and not in any the Public Hearing, and the City pub�ishes notice y of Public Hearing; and (3) Council approves the supplement thereof on the following dates,to wit: Agreement for Purchase and Sale of 'catproP r-_ tt(( as well as-a-resolution accepting the terms the sale. July Of, 13th The fisted sale price was determined by an MAI appraisal and the price is fair market value The ---------------------------------—-------------—------------ process meets the requirements of Resolution 14527, which requires that the City sell all land for fair market value.The sale of this parcel meets -----------------------------------—__—-------—__------ the other tests of Resolution 14527 1. There is not foreseeable present or future use of the property foi City purposes All in the year 2001 2.The property cannot he leased or rented for its highest and best use at fair market rental. 3 The City's need for immediate liquidation, for I certifyor declare under penalty of ern that the cash of such property-at its fair market value-is ( p ty perjury fy greater than Its need for development continuing foregoing is true and correct. revenue for the lease of such property lgth All interested persons are invited to attend the Public Hearing and express opinions on the item Dated at Palm Springs,California this-------------day listed above If you challenge the nature of the proposed action in court, you may be limited to July raising only those issues you or someone else of---------------------------------------2001 rinsed a[the Public Hearing described in this no- tic.,or in written correspondence dellvered to the City Clerk,at the address listed above, at or prior to the Public Hearing. Members of the public may view this document and all referenced documents the Community Signature Redevelopment Department,Cityy and Hall, and submit g Ag3n comments to the Community Development Agency at or prior to the Community Redevelop- ment Mee4ng at t, prior to the public hearing de- scribed In this notice. Further Information; including a copy of the Agreement and Resolution, prepared in sees r- dance with California Government Code Section 37421 at seq.,is available in the Office of the City Clerk, at the above address. PATRICIA A. SANDERS, City Cie,k Pi IB: ,July 6, 13, 2001 RESOLUTION NO. 20105 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS PURSUANT TO CALIFORNIA GOVERNMENT CODE SECTION 37421 ET. SEQ. FOR THE SALE OF CITY PROPERTY; AND NOTICE THEREOF WHEREAS, the City is desirous of selling certain property located in the City of Palm Springs ("Sale Property"), and described in Exhibit "A" of this Resolution, in accordance with Government Code Section 37420 et seq.; WHEREAS, the City Council of the City Palm Springs is informed that Burnett Development Company ('Burnett') has applied to the Community Redevelopment Agency for the purchase of this Property and an Agency-owned parcel abutting this property; WHEREAS, the Agency intends to convey its portion of the land to Burnett through a Disposition and Development Agreement, which provides a better legal instrument for the conveyance of real property for private development; WHEREAS, the notice of the public hearing for July 18, 2001 at 7 p.m. for consideration of the sale of the Sale Property was made pursuant to California Government Code Sections 37421, 37422 and 37423, WHEREAS, pursuant to Government Code Section 37421, persons wishing to protest the sale of the Sale Property must present testimony at the time and place designated herein for the hearing to consider the sale of the Sale Property or submit written statements protesting the sale with the City Clerk prior to such hearing; WHEREAS, the publication of the notice of public hearing describing the proposed sale of the Sale Property was made pursuant to Government Code Sections 37422 and 37423 by circulation in a daily newspaper published and circulated in the City and posted for not less than ten days in at least three conspicuous places upon each parcel of property affected, 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. 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 hereby approved. SECTION 3. The Mayor, or his designee, is hereby authorized to execute on behalf of the City the Agreement for Purchase and Sale of Real Property and other documents necessary to the Agreement, and make minor changes as may be deemed necessary, in a form approved by the City Attorney. cmloftb c ADOPTED this day of 2001 by the City Council of the City of Palm Springs. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By City Clerk City Manager APPROVED AS TO FORM: CITY ATTORNEY REVIEWED AND APPROVED EXHIBIT "A" LEGAL DESCRIPTION OF THE PROPERTY The Land is that certain real property located in the City of Palm Springs, County of Riverside, State of California, more particularly described as follows: PARCEL Q LOTS 9 AND C, OF TRACT NO. 17642-1, AS SHOWN BY MAP ON FILE IN BOOK 122 PAGE(S) 88, 89 AND 90 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; EXCEPTING THEREFROM THAT PORTION THEREOF LYING WITHIN TRACT NO. 26943-1, AS SHOWN BY MAP ON FILE IN BOOK 235 PAGE(S) 84 AND 85 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; ALSO EXCEPTING THEREFROM THE EASTERLY 920 FEET OF LOT C; ALSO EXCEPTING FROM LOT C THAT PORTION THEREOF CONVEYED TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, A PUBLIC BODY, CORPORATE AND POLITIC, BY DEED RECORDED APRIL 25, 1996 AS INSTRUMENT NO. 148930 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. c r& L am e . 3 RESOLUTION NO. 1139 OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, APPROVING A AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY WITH THE CITY OF PALM SPRINGS BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY of the City of Palm Springs, California, that an Agreement for Purchase and Sale of Real Property with the City of Palm Springs, in a form acceptable to the Agency Councsel, is approved. ADOPTED this 18tb day of July 2001. AYES: Members Hodges, Jones, Oden, Reller-Spurgin and Chairman Rleindienst NOES: None ABSENT: None ATTEST: COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA By Assistant Secretary Executive Director REVIEWED & APPROVED AS TO FORM � r�.