Resolution - 6824RESOLUTION NO. 68N
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA
MAKING ENVIRONMENTAL FINDINGS NECESSARY WITH RESPECT TO THE
PROPOSED DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE
REDEVELOPMENT AGENCY OF THE CITY OF WEST COVINA AND DYK,
PAGARD, LYNCH & CEDARHOLM II, A CALIFORNIA PARTNERSHIP; MAKING
CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION TO BE
RECEIVED BY THE AGENCY PURSUANT TO SAID AGREEMENT; APPROVING
A PROPOSED SALE OF REAL PROPERTY; AND APPROVING SAID DISPOSITION
AND DEVELOPMENT AGREEMENT.
WHEREAS, the Redevelopment Agency of the City of West Covina (the "Agency"')
is engaged in activities necessary to execute and implement the Redevelopment Plan
for the Central Business District Redevelopment Amended Project (the "Project"); and
WHEREAS, in order to execute and implement the Redevelopment Plan, the
Agency proposes to sell certain real property ("Property") within the Central Business
District Redevelopment Project Area pursuant to the terms and provisions of a proposed
Disposition and Development Agreement (the "Agreement") to be entered into with Dyk,
Pagard, Lynch & Cedarholm II, a California partnership (the "Developer"), which
Agreement contains a description of said Site; and
WHEREAS, the Developer has submitted to the Agency a written offer in the
form of said Agreement to purchase the Property; and
WHEREAS, the proposed Disposition and Development Agreement contains all the
provisions, terms and conditions and obligations required by state and local law; and
WHEREAS, the Developer possesses the qualifications and financial resources
. necessary to acquire and insure the development of the Property in accordance with
the purposes and objectives of the Redevelopment Plan; and
WHEREAS, the Agency has prepared, and the City Council has reviewed and
considered, a summary report setting forth the cost of the Agreement to the Agency,
the estimated value of the interests to be conveyed determined at the highest uses
permitted under the Redevelopment Plan, and the purchase price, and made said
summary available for public inspection in accordance with the California Community
Redevelopment Law; and
WHEREAS, an Environmental Impact Report for the Second Amendment to the
Central Business District Redevelopment Plan was certified June 23, 1980, by Agency
Resolution No. 182 and City Council Resolution No. 6152; and
WHEREAS, an initial study of the environmental effects of the proposed
Agreement (Environmental Information and Checklist Form) has been completed in
accordance with California Environmental Quality Act; and
WHEREAS, pursuant to the California Community Redevelopment Law, the
Agency and the City Council held a joint public hearing on the proposed Disposition
and Development Agreement; and
WHEREAS, the City Council has duly considered all terms and conditions of
the proposed sale and believes that the development of the Property pursuant to the
proposed Disposition and Development Agreement is in the best interest of the City
and the health, safety, morals, and welfare of its residents, and in accord with
• the public purposes and provisions of applicable state and local law and requirements;
NOW THEREFORE, BE -IT RESOLVED by the City Council of the City of West
Covina as follows:
RESOLUTION NO. 6824,�'
PAGE TWO
1. The City Council hereby approves and adopts the Initial Study with
respect to the proposed Agreement between the Agency and Dyk, Pagard, Lynch &
Cedarholm II, a California partnership.
• 2. The City Council hereby certifies that the information contained
in the Initial Study and in the above -referenced previous Environmental Impact
Report has been reviewed and considered by the members of the City Council.
3. The City Council hereby finds and determines as follows:
(a) No substantial changes are proposed in the Redevelopment
Project, or with respect to the circumstances under which
the Project is to'be undertaken, which will require major
revisions in the above -referenced Environmental Impact
Report previously adopted due to the involvement of new
environmental impacts not covered in said previous
Environmental Impact Report;
(b) No subsequent or Supplement to EIR is necessary or required;
and
(c) The proposed action will have no significant effect on the
environment, except as identified and considered in the
previous EIR.
4. The City Council hereby finds and determines that the consideration
for the sale of the Property pursuant to the Disposition and Development Agreement
between the Agency and the Developer is not less than the fair market value of the
Property in accordance with the covenants and conditions governing such sale.
5. The sale of the Property by the Agency to the Developer, and the
Disposition and Development Agreement which establishes the terms and conditions for
the sale and development of the Property, are hereby approved.
6. The City Clerk shall certify to the adoption of this Resolution.
APPROVED AND ADOPTED this 13th day of February, 1984.
4vvv_'a�'�
Ma or
ATTEST:
— - 4 4-- Z &0- r2 Z.,
ty ler
I HEREBY CERTIFY .that the foregoing Resolution No. 6824 was duly
adopted by the City Council of the City of West Covina at a regular meeting thereof
held on the 13th day of February, 1984, by the following vote of the Board:
AYES: Councilmen: Shearer, Bacon, Chappell
NOES: Councilmen: None
• ABSENT: Councilmen: Tice
ABSTAIN: Councilmen: Tennant
City Cler
qk
APPROVED AS TO FORM:
6L
City Attorney