HomeMy WebLinkAboutCDC/1999-04
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See Also 1999-31
See Also Resolution J-45
",,,,SOLUTION NO. CDC/1999-4
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION
APPROVING SALE OF CERTAIN PROPERTY LOCATED AT 701
NORTH "E" STREET
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the
Commission
Community
WHEREAS,
Development
5 ("Commission") is the governing board of the Redevelopment Agency
6 of the City of San Bernardino (the "Agency") a body duly created
7 pursuant to the provisions of Sections 33000, et ~. of the Health
8 and Safety Code of the State of California; and
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WHEREAS, the Agency currently owns certain property (the
11 "Property")
which is located at 701 North "E" Street San
12 Bernardino, California; and
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WHEREAS, the Property is in poor condition, needs
15 rehabilitation and currently requires substantial Agency funds to
16 maintain each month; and
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WHEREAS,
the Agency desires to convey the Property to
19 persons who will develop the Property; and
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WHEREAS, Hao-Shih Hsu, Yin-Pen Ko Hsu and Hsus World,
22 Inc., a California corporation ("Developers") have offered to
23 purchase the property and redevelop it into a commercial office
24 building (the "Building"); and
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WHEREAS,
the Agency believes that Developers can
27 redevelop the Property and maintain the Building; and
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CDC/1999-4
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WHEREAS, the Agency deems it desirable to enter into a
Purchase and Sale Agreement (the "Agreement") with the Developer in
the form as on file with the Secretary of the Agency and
incorporated herein by this reference; and
WHEREAS, the Agency and the City have held a duly noticed
public hearing in accordance with Sections 33431 and 33433 of the
California Health and Safety Code and the Agency has caused the
preparation of, and made available for public inspection, a report
including a summary of the transaction; and
WHEREAS, the
blighting
development
conditions in
of the
the
Property will
Central City
help
North
eliminate
Redevelopment Project Area, will increase property values and will
result in the creation of additional employment opportunities; and
WHEREAS, the Agreement, and the proposed development of
the Building is consistent with the Agency's redevelopment plan
for the Central City North Redevelopment Project Area; and
WHEREAS, based upon the evidence and testimony submitted
to the Agency, the consideration paid for the Property is not less
than the fair reuse value of the Property at the use and with the
covenants and conditions and development costs required for the
Property; and
WHEREAS, the Agency deems it reasonable and appropriate
to approve the Agreement at this time.
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CDC/1999-4
1 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION
2 ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN
3 BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
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5 Section 1. The foregoing Recitals are true and
6 correct and are incorporated herein by this reference.
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8 Section 2. The Agency hereby adopts the findings and
9 determinations as set forth herein and finds that the Agreement is
10 within the redevelopment goals and objectives of the Agency.
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12 Section 3. The Agency, having held a duly noticed
13 public hearing in accordance with Health and Safety Code Sections
14 33431 and 33433, finds and determines that the disposition of the
15 Property to the Developer, pursuant to the Agreement, will be of
16 benefit to the Agency and the City and will also promote
17 redevelopment within the Central City North Redevelopment Project
18 Area of the Agency.
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20 Section 4. The Agency hereby approves the form of the
21 Agreement on file with the Secretary of the Agency and authorizes
22 the Executive Director and Secretary to execute the Agreement with
23 such changes as may be deemed appropriate by the Executive Director
24 and Agency Counsel. The Agency further authorizes the execution
25 and delivery by the Executive Director and Secretary of any and all
26 other documents, agreements, certificates, instruments of
27 conveyance, consents and notices which they may deem necessary or
28 advisable to carry out the transactions contemplated hereby.
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CDC/1999-4
1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION APPROVING SALE
OF CERTAIN PROPERTY LOCATED AT 701 NORTH "E" STREET
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Section 5.
This Resolution shall take effect from and
4 after its passage and adoption.
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I HEREBY CERTIFY that the foregoing Resolution was duly
7 adopted by the Community Development Commission of the City of
8 San Bernardino at a
joint regular
9 the
15th day of
February
10 vote, to wit:
11 Commission Members:
12 ESTRADA
LIEN
13 McGINNIS
SCHNETZ
14 DEVLIN
ANDERSON
15 MILLER
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day of
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AYES
x
X
X
X
X
X
X
meeting thereof, held on
, 1999, by the following
NAYS
ABSTAIN
ABSENT
The foregoing Resolution isihereby approved this D=t:ID
February 199 9 .
\ ./,
" F.'/' .I /' -J '
'-- ~ Y J)J'-d-----'/
JUditpJalles, Chairperson
Commq~ity Development Commission
of th€ City of San Bernardino
22 content:
23 By:
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SBEO\OOOl\3426
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