Resolution - 8018r
RESOLUTION NO. 8018
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST
COVINA AUTHORIZING AND CONSENTING TO A PUBLIC HEARING
• BEING HELD ON A RESTATED DISPOSITION AND DEVELOPMENT
AGREEMENT BETWEEN THE WEST COVINA REDEVELOPMENT AGENCY
AND WATT INVESTMENT PROPERTIES, INC., FOR REAL PROPERTY
LOCATED WITHIN THE WEST COVINA CENTRAL BUSINESS DISTRICT
REDEVELOPMENT PROJECT; AUTHORIZING AND CONSENTING TO
HOLDING SUCH A PUBLIC HEARING IN CONJUNCTION, CONCURRENT
AND JOINTLY WITH THAT TO BE HELD BY THE REDEVELOPMENT
AGENCY OF THE CITY OF WEST COVINA ON SUCH RESTATED
AGREEMENT (WATT INVESTMENT PROPERTIES, INC.)
WHEREAS, the Redevelopment Agency of the City of West Covina (the
"Agency") is engaged in activities necessary to carry out and implement
the Redevelopment Project; and
WHEREAS, in order to carry out and implement such Redevelopment
Plan, the Agency Staff negotiated with Watt Investment Properties, Inc.
for a restated Disposition and Development Agreement for the sale of
real property in the Redevelopment Project to the Developer for the
development of a mixed -use office/hotel/retail complex; and
WHEREAS, the Agency Staff has assessed the environmental impact of
the proposed development pursuant to an Initial Study as required by
law; and
WHEREAS, the Agency Staff has made certain recommendations pertain-
ing to such restated Agreement; and
WHEREAS, pursuant to Sections 33433 and 33434 of the California Com-
munity Redevelopment Law (California Health and Safety Code Section
33000 et seq.), the City Council shall hold a public hearing on such re-
stated Disposition and Development Agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
West Covina as follows:
SECTION 1. The City Council hereby authorizes that a public hear-
ing be held on such restated Disposition and Development Agreement.
SECTION 2. The City Council hereby authorizes and consents to hold-
ing such public hearing in conjunction, concurrent, and jointly with
the public hearing to be held by the Agency on such matters.
• SECTION 3. The City Council hereby authorizes the City Manager to
set the time, date, and place of said public hearing.
SECTION 4. The City Council hereby authorizes the City Clerk, in
cooperation with the Agency Secretary, to publish notice of such public
hearings in the Tribune, and hereby further authorizes the City Clerk
to make available for public inspection a copy of such restated Disposi-
tion and Development Agreement, a copy of the recommendations of the
Agency Staff, and copies of the summaries and reports required by law.
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SECTION 5. The City Clerk shall certify to the adoption of this
resolution:
APPROVED AND ADOPTED this 13th day of April 1987.
Mayor'
ATTEST:
City Clerc
I HEREBY CERTIFY that the foregoing Resolution No. 8018 was
duly adopted by the City Council of the City of West Covina at a regu-
lar meeting thereof held on the 13th day of April 1987, by the follow-
ing vote:
AYES: Manners, Chappell, Shearer
NOES: None
ABSENT: Bacon, Tennant
ABSTAIN: None
APPROVED AS TO FORM:
City Attorney
ATRI14MF
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City Clerk