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Resolution - 9057RESOLUTION NO. 9057 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA CONSENTING TO THE APPROVAL BY THE REDEVELOPMENT AGENCY OF THE CITY OF WEST COVINA OF THE DISPOSITION AND DEVELOPMENT AGREEMENT BY • AND BETWEEN THE REDEVELOPMENT AGENCY AND FIVE STAR ENTERPRISES AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH WHEREAS, the Redevelopment Agency of the City of West Covina (the "Agency") is engaged in activities necessary to carry out and implement the Redevelopment Plan for the West Covina Redevelopment Project (the "Project"); and WHEREAS, in order to carry out and implement such Redevelopment Plan the Agency proposes to enter into that certain Disposition and Development Agreement (the "Agreement") with Five Star Enterprises (the "Developer") for the development of a certain property within the Project Area (the "Site"), all as. described in the Agreement; and WHEREAS, the Developer has submitted to the Agency and the City Council of the City of West Covina (the "City Council") copies of said proposed Agreement in a form executed by the Developer; and WHEREAS, pursuant to Section 33433 of the Community Redevelopment Law (California Health and Safety Code Section 33000, et seq.), the Agency is authorized, with the approval of the City Council after a duly noticed public hearing, to sell or lease the Site for development pursuant to the Redevelopment Plan upon a determination by the City Council that the sale of the property will assist in the elimination of blight and that the consideration for such sale is not less than either the fair market value or fair reuse value of the Site in accordance with the covenants and conditions governing the sale and the development costs required thereof; and WHEREAS, a joint public hearing of the Agency and City Council on the proposed Agreement was duly noticed in accordance with the requirements of Health and Safety Code Section 33433; and WHEREAS, the proposed Agreement, and a summary report meeting the requirements of Health and Safety Code Section 33433, were available for public inspection consistent with the requirements of Health and Safety Code Section 33433; and yWHEREAS, on March 15, 1994, the Agency and City Council held a joint public hearing on the proposed Agreement, at which time the Agency reviewed and evaluated the proposed Agreement; the benefit to the Project Area to be derived from the proposed Agreement; whether other reasonable means of financing the public improvements to be provided by the Agency pursuant to the terms of the Agreement were available; staff reports prepared on this matter; and all of the information, testimony, and evidence presented during the joint public hearing; and WHEREAS, all actions required by all applicable law with respect to the proposed Agreement have been taken in an appropriate and timely manner; and WHEREAS, the City Council has reviewed the summary required pursuant to Health and Safety Code Section 33433 and evaluated other information provided to it pertaining to the finding required pursuant to Health and Safety Code Section 33433; and isWHEREAS, the Site is located within an area of the West Covina Redevelopment Project which was identified in the report to the West Covina City Council, in connection with its addition to the Site to the Eastland Redevelopment Project by amendment of the Redevelopment Plan for the Eastland Redevelopment Project, to be blighted as a result of the shifting of uses from residential to commercial uses and the resulting deterioration of the residential structures, and the small sizes of the residential lots which were inadequate for modern building standards where adequate offstreet parking is required; and • WHEREAS, the sale of the Site pursuant to the Agreement will assist in the elimination of blight by facilitating the conversion of the Site from residential to commercial uses, by modifying parcel sizes to accommodate commercial uses and adequate offstreet parking, and by requiring the expansion of a new automobile dealership which will be properly designed, constructed and maintained, correcting the existing problems of poor access and weak identity of the West Covina Auto Plaza, and will be of benefit to the community by increasing commercial and economic activity in the Project Area, generating employment opportunities and preventing blight from recurring on the Site; and WHEREAS, the City Council has duly considered all terms and conditions of the proposed Agreement and believes that the redevelopment of the Site pursuant thereto is in the best interests of the City of West Covina and the health, safety, and welfare of its residents, and in accord with the public purposes and provisions of applicable state and local laws and requirements. NOW, THEREFORE, BE IT RESOLVED by the West Covina City Council, as follows: Section 1. The City Council finds and determines that, based upon substantial evidence provided in the record before it, the consideration to be paid by the Developer for the Agency's disposition of the Site pursuant to the terms and conditions of the Agreement is not less than the fair market value of the Site. Section 2. The City Council hereby finds and determines that the disposition of the Site pursuant to the Agreement will eliminate blight within the Project Area by providing for the reuse and redevelopment of a portion of the Project Area which was declared blighted for the reasons described above. Section 3. The City Council consents to and approves the execution of the Agreement by the Agency and a copy of the Agreement when executed by the Agency shall be placed on file in the office of the City Clerk. Section 4. The City Clerk shall certify to the adoption of this Resolution. The foregoing Resolution is hereby approved this 15th day of March, 1994. ATTEST: �✓ / _� City Clerk April 14, 1994 pueu11736_113361B2740.13 • V I HEREBY CERTIFY that the foregoing Resolution No. 9057 was duly adopted by the West Covina City Council at a regular meeting hereof, held on the 15th day of March, 1994 by the following vote, to wit: AYES: Council Members: Herfert, Manners, McFadden, Wong, Jennings NOES Council Members: None ABSENT: Council Members: None ABSTAIN: Council Members: None APPROVED AS TO FORM: CITY OF WEST COVINA By: City Clerk April 14, 1994 PUB1.: 11736_113361 B2740.13 3