Resolution - 8119•
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RESOLUTION NO. 8119
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST
COVINA AUTHORIZING AND CONSENTING TO A PUBLIC
HEARING BEING HELD ON THE FIRST IMPLEMENTATION
AGREEMENT TO A RESTATED DISPOSITION AND DEVELOPMENT
AGREEMENT BETWEEN 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 IMPLEMENTATION 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, on June 22, 1987, the Agency entered into a Restated
Disposition and Development Agreement with Watt Investment Properties,
Inc. ("Developer") for the sale of real property known as The Lakes
Site ("Site") and the development of the Site by the Developer; and .
WHEREAS, Agency and Developer propose to enter into a First
Implementation Agreement to Restated Disposition and Development
Agreement to make certain changes in Agency participation; 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
Implementation Agreement to the Restated 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 Implementation Agreement to the 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 Implementation
Agreement to the Restated Disposition and Development Agreement, a copy
of the recommendations of the Agency Staff, and copies of all summaries
and reports required by law.
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resolution:
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The City Clerk shall certify to the adoption of this
APPROVED AND ADOPTED this 9th day of November , 1987.
ATTEST:
City Cl�1C
�A �040
I HEREBY CERTIFY that the foregoing Resolution No. was
duly adopted by the City Council of the City of West Covina at a regu-
lar meeting thereof held on the 9th day of November , 1987, by the
following vote:
AYES: Councilmember: Bacon, Shearer,
NOES: Councilmember: Tennant
ABSENT: Councilmember: None
ABSTAIN: Councilmember: None
APPROVED AS TO FORM:
City Attorney
LAK128RF
Manners, Chappell
City Cle c