HomeMy WebLinkAbout1/2/2003 - STAFF REPORTS (3) �Z
DATE: JANUARY 2, 2003
TO: CITY COUNCIL & COMMUNITY REDEVELOPMENT AGENCY
FROM: DIRECTOR OF COMMUNITY & ECONOMIC DEVELOPMENT
APPROVAL OF THE SALE OF 1.11 ACRE CITY-OWNED PARCEL TO THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS FOR THE PURPOSE OF
ASSEMBLING LAND FOR A DISPOSITION AND DEVELOPMENT AGREEMENT (DDA)
WITH BURNETT COMPANIES, APN 669-500-026
RECOMMENDATION:
It is recommended that the City Council approve the sale of a City-owned 1.11 acre
parcel near Sunrise Way and San Rafael Road to the Community Redevelopment
Agency for the purpose of completing a Disposition and Development Agreement
with Burnett Companies of Newport Beach
SUMMARY:
This action is the final one of a series of City-to-Agency transactions to facilitate an
Agency DDA with Burnett Development, which will acquire approximately 42 total
acres from the Agency at fair market value, for the purpose of constructing a single-
family-home subdivision. The purpose of this action is to convey this small City-
owned parcel,which was designated as a park site in the original Coyote Run project,
to the Agency so that the Agency may convey a portion of it (up to two-thirds) to
Burnett, in exchange for $50,000 toward park improvements to be made at the
relocated park site on Sunrise Way, between the current Coyote Run project and a
future expansion of that project. The approximately $1.50 per square foot paid by
Burnett represents twice the square foot price paid for the larger parcel.
BACKGROUND:
On December 18, 2002, the Agency approved a DDA with Burnett Development for
the sale of 22.21 and 19.17 acre parcels near Sunrise Way and San Rafael Road.
Burnett is paying fair market value for the parcels and has assembled additional land
for a major single family home development in the area. For this purchase, the
Agency will sell a portion of the parcel to Burnett in return for $50,000 to be
contributed to park improvements on Sunrise Way. The Agency would retain the
portion of the lot not sold to Burnett to negotiate a separate conveyance of the
remainder portion to Coachella Valley Housing Coalition, the adjacent property
owner.
OHN RAYM D
e r of &,Economic
De Development
APPROVD• h City Manag r
ATTACHMENTS:
1. Resolution Pursuant to Section 37421, et. seq.
2. Legal Description of Property
3. Grant Deed ��
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RESOLUTION NO.
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, APN 669-500-026
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 seg.; and
WHEREAS, the City Council of the City Palm Springs is informed that Burnett
Development Company ('Burnett') has entered a Disposition and Development
Agreement with the Community Redevelopment Agency for the purchase of a portion of
this 1.11 acre property and other Agency-owned parcel abutting this property, at a
legally noticed public hearing on December 18, 2002; and
WHEREAS, the Agency intends to convey a portion of this parcel, known as Parcel S, to
Burnett through the Disposition and Development Agreement, which provides a better
legal instrument for the conveyance of real property for private development, and retain
a portion of the parcel for a future separate agreement with Coachella Valley Housing
Coalition; and
WHEREAS, the property, APN 669-500-026, was originally intended as a public park
site, but the private nature of the Coyote Run project and the Burnett project have made
it infeasible for that purpose; and
WHEREAS, the purchase of a portion of the property from the Agency by Burnett will be
in return for a contribution of $50,000 toward the construction of a public park at a new
site on Sunrise Way accessible to the public, and is at least fair market value.
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.
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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.
ADOPTED this day of 2003 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:
1.11 acres in a portion of Lot 2 in Tract 17642-1, Map Book 235, Page 84.
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RIVERSIDE COUNTY, CALIF