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HomeMy WebLinkAboutRDA Reso No 2011-003RESOLUTION NO. 2011-003 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING THAT CERTAIN SECOND AMENDMENT TO THE DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE AND POTTERY COURT HOUSING ASSOCIATES, L.P. WHEREAS, the Redevelopment Agency of the City of Lake Elsinore ("Agency") is engaged in activities necessary to execute and implement the Amended and Restated Redevelopment Plan for the Rancho Laguna Redevelopment Project Area No. ('Redevelopment Plan"); and WHEREAS, in order to implement the Redevelopment Plan, the Agency has agreed to sell the real property, comprising the "Site" as defined in, and pursuant to the terms and provisions of a certain Disposition and Development Agreement, ("Agreement') and the First Amendment to the Disposition and Development Agreement ("First Amendment'), by and between the Agency and Pottery Court Housing Associates, L.P. ("Developer"); and WHEREAS, in order to implement the Redevelopment Plan, the Agency proposes to provide assistance pursuant to the terms and provisions of a certain Second Amendment to the Disposition and Development Agreement, ("Second Amendment'), by and between the Agency and Developer; and WHEREAS, the Agreement, First Amendment and Second Amendment comprise the "Amended Agreement; and WHEREAS, the proposed Amended Agreement contains all the provisions, terms, conditions and obligations required by State and local law; and WHEREAS, the Agency has prepared, and the City Council has reviewed and considered, a summary report setting forth the cost of the Amended Agreement to the Agency, including the sale of the Site to the Developer, and has made said summary report available for public inspection in accordance with the California Community Redevelopment Law (Health and Safety Code Sections 33000 et seq.); and WHEREAS, pursuant to provisions of the California Community Redevelopment Law, the Agency and the City Council have noticed and held a duly noticed joint public hearing on the proposed Agreement; and WHEREAS, in accordance with the California Environmental Quality Act (California Public Resources Code Section 21000 et seq.: "CEQA"), the State CEQA Guidelines (Title 14, California Code of Regulations Section 15000 et seq.: "CEQA Guidelines"), the Project (as defined in the Agreement) has previously been determined REDEVELOPMENT AGENCY RESO. NO. 2011- 003 Page 2 of 4 to be categorically exempt from CEQA and the CEQA Guidelines pursuant to a Class 32 categorical exemption for in-fill development projects; and WHEREAS, the City Council has considered all terms and conditions of the proposed Agreement, and has determined that the sale of the Site pursuant to the proposed Agreement is in the best interests of the City and in accord with the public purposes and provisions of applicable state and local laws. NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINOE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1. The Agency hereby finds and determines that sale of the Site and that implementation of the Project, in accordance with the terms and provisions of the Amended Agreement, is consistent with the Community Redevelopment Law, the Amended and Restated Redevelopment Plan for the Rancho Laguna Redevelopment Project Area No. 1, and the Agency's Redevelopment and Housing Implementation Plan adopted pursuant to Health & Safety Code Section 33490. SECTION 2. The Agency hereby finds and determines that the sale of the Site and the development of the Project, pursuant to the Amended Agreement will assist in the elimination of blight the production of affordable housing in accordance with the Agency's obligations pursuant to Section 33413 of the Health & Safety Code. SECTION 3. The Agency hereby finds and determines that the consideration to be paid by the Developer in accordance with the terms and provisions of the Amended Agreement is not less than the fair market value of the Site. SECTION 4. The Agency hereby finds and determines that the implementation of the Project would not be financially feasible without the financial assistance from the Agency's Low and Moderate Income Housing Fund and that no other sources of funds are available. SECTION 5. The Agency hereby authorizes the Executive Director to execute the Second Amendment substantially in the form on file with the Agency Secretary, issue interpretations, waive provisions, enter into amendments on behalf of the Agency, and to sign all documents and instruments necessary to implement and carry out the Amended Agreement on behalf of the Agency in such form as is reasonably acceptable to the Agency Counsel SECTION 6. The Agency Secretary shall certify to the passage and adoption of this resolution and the same shall thereupon take effect and be in force. REDEVELOPMENT AGENCY RESO. NO. 2011- 003 Page 3 of 4 PASSED, APPROVED AND ADOPTED at a regular meeting of the Redevelopment Agency of the City of Lake Elsinore, California, this 8th day of February, 2011. MELISSA MELENDEZ, CHAIRWOMAN VIRGIN AGENC APPROVED AS FOR r a BARBARA LE OL , AGENCY GENERAL COUNSEL REDEVELOPMENT AGENCY RESO. NO. 2011- 003 Page 4 of 4 STATE OF CALIFORNIA COUNTY OF RIVERSIDE CITY OF LAKE ELSINORE }SS I, VIRGINIA BLOOM, Agency Secretary of the Redevelopment Agency of the City of Lake Elsinore, California, hereby certify that Resolution No. 2011- 003 was adopted by the Redevelopment Agency of the City of Lake Elsinore, California, at a regular meeting held on the 8th day of February 2011, and that the same was adopted by the following vote: AYES: AGENCY MEMBERS: BHUTTA, HICKMAN, MAGEE, VICE-CHAIR TISDALE AND CHAIRWOMAN MELENDEZ NOES: NONE ABSENT: NONE ABSTAIN: NONE