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Home My WebLink About13035 1 il/l~~ RESOLU'l'ION NO. 2 , !Ui:SOLUTION OF THE CITY OF SAN BEtuqAlIDINO APPROVING THE SALE i OF APPROXIMATELY 187,280 SOUA-BE FEE'1' OF lUi:AL PROPER'l'1! LOCATED IN I THE CE!l'r1tAL CITY SOt1TH PROJECT AREA TO CENTRAL CITY COMPANY BY THE REDEVELOPMENT AGBNCY OF THE CITY OF SAN BERNARDINO (HEALTH & ! SAFETY CODE SECTIO~ 334(3). 3 4 5 6 WHEREAS, the Redevelopment Agency of the City of San i I Bernardino is the owner of certain parcels of real property I situated in the Central City South Redevelopment Project Area I 7 8 9 and more particularly described in Exhibit "A" attached hereto and incorporated by reference herein as though fully set forth in full and at length; and 10 11 WHEREAS, said real property was purchased on June 7, 1974 12 at a total cost of five hundred seventy-three thousand two hundred 13 fifty dollars ($573,250.00), the fair market value of the afore- 14 said property for the highest and best use consistent with the 15 Redevelopment Plan; and 16 WHEREAS, the Redevelopment Agency and the Central City Company are entering into an agreement wherein and whereby the Redevelopment Agency agrees to acquire and sell to the Central City Company additional specific parcels of real property totaling 17 18 19 20 approximately 92,180 square feet in the area bounded by Second, 21 "F" and "G" Streets and Rialto Avenue in said Central City South 22 Redevelopment Project Area as shown on Exhibit "B" attached here- 23 to and incorporated herein by reference for the sum of one hundred 24 sixty-five thousand dollars ($165,000~OO); and WHEREAS, the Redevelopment Agency of the City of San Bernardino proposes to sell said parcels of real property set forth on Exhibit "A" attached hereto to Central City CompiJ.ny, 25 26 27 28 a partnership, for the sum of three hundred thirty-five thousand 1 2 dollars ($335,000.00); and WHEREAS, said selling price is less than the estimated 3 fair market value of the real property being sold; and 4 WHEREAS, said three hundred thirty-five thousand dollar ($335,000.00) selling price is necessary to effectuate the pur- 5 6 poses of the Redevelopment Plan; and 7 8 9 WHEREAS, Central City Company has proposed an alternative plan of development for said real property as either additional parking for'the Central City Mall or as approximately 70,000 10 square feet of buildings for a commercial development which will be complimentary to the Central City Mall; and 11 12 WHEREAS, development of the property as a parking facility for the Central City Mall will produce approximately $15,000.00 13 14 in annual tax increment revenues, and development of the property 15 with the planned commercial development will produce approximately: 16 $90,000.00 in annual tax increment revenues; and 17 WHEREAS, notice of a time and place of hearing has been 18 I given as required by law; and 19 WHEREAS, the Redevelopment Agency has made available for I public inspection and copying all of the information required by I! law; and I 20 21 22 WHEREAS, all hearings have been held as required by Health 23 & Safety Code Section 33433, NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO do hereby find and declare that the sale of 24 25 26 the real property shown on Exhibit "A" attached hereto is for less than the estimated fair market value of the said parcels 27 28 of real property being sold, determined at the highest use per- -2- 20 21 22 23 1 2 mitted under the Central City South Redevelopment Project Area Redevelopment Plan, and that the sale of said real property for 3 a lesser consideration is necessary to effectuate the purposes 4 of said Redevelopment Plan for the following reasons: 5 1. Article V B of the Redevelopment Plan provides and 6 allows commercial uses, including, without limitation, business 7 offices, professional offices, retail stores and shops and other 8 office functions as may be directly related to industry and 9 commerce as well as the general public. 10 2. The parcels of real property being sold have been 11 owned by the Redevelopment Agency since June, 1974, and have been 12 available for sale since said date. The offer accepted was the 13 best offer therefor being made that is compatible with the 14 Redevelopment Plan, and the Agency has been unable to sell said 15 property during the time that it has been owned until at this 16 time. 17 3. There is stro~g competition from the County of San 18 Bernardino and from other cities in the area to induce and per- 19 suade developers to locate their developments in their areas. : I , Should the Redevelopment Agency be unable to sell this property for the sale price set forth herein, the developer will un- doubtedly make his investment elsewhere, and the land will not be developed in as strict and as desirable a development as is 24 to be provided by this developer. The parcels would, if not 25 developed, require the paying of additional substantial interest 26 on the trust deeds on the property. 27 28 4. Any claim for a finder's fee provided for by estab- lished Agency policy for the proposed development has been waived. -3- 1 5. All of the recitals set forth hereinabove are 2 incorporated herein by reference. 3 6. As set forth herein, annual tax increment revenue 4 from $15,000.00 to $90,000.00 will be realized from the proposed 5 development depending upon which alternative plan of development 6 is consummated by the developer. The Agency will recover the 7 difference between the property and its estimated fair market 8 value determined at the highest and best use consistent with the 9 Ii Redevelopment Plan in less than 16 years or in less than 3 years Ii . 11 depending upon the alternative of development consummated by the I developer. 7. Should the Redevelopment Agency not sell the parcels 10 11 12 13 of real property as proposed herein for the price that is less 14 I than the estimated value, determined at the highest use permitted 15 under the Plan, the purposes of the Redevelopment Plan could not 16 be effectuated. The price and conditions of sale offered by 17 Central City Company is the best price and terms for said property 18 that has been offered therefor. 19 BE IT FURTHER RESOLVED that the Mayor and Common Council 20 of the City of San Bernardino hereby approve the sale of the 21 said parcels of real property upon the terms, conditions, and for the reasons herein set forth. 22 23 I HEREBY CERTIFY that the foregoing resolution was duly adopted by the Mayor and Common Council of the City of San 24 25 26 Bernardino at a ~ on the ,2I;1ll: day of . ) , 1977, by the following meeting thereof, held 27 vote, to wit: 28 . . . . . . . . . . -4- AYES: Councilmen &/;;;u.L~, LfI)l,d4, L__,_ ~, ~.lJ/ ~~M) NAYS: ,/J117UJ ABSENT: ~/'~~ ~Z:::A-' 44J{~t~~~ , hereby approved this ~~ j' 1 2 3 4 5 6 7 The foregoing resolution is 8 9 Of~ 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 , 1977. to form: ~;"QJ FILED NGV a g 19Tt LUCIL~E GOFORTH, City Clerk ~L7~ . '1 ".....ru" -5- ,- day I I I 1 EXHIBIT "A" 2 AGENCY-OWNED PROPERTY 3 Parcel Area (Sq. Ft.) 4 134-341-05 9000 5 134-341-06 16590 6 134-341-07 5910 7 134-341-10 7500 8 134-341-11 7500 9 134-341-12 7500 10 134-341-13 11250 11 134-341-14 11250 12 134-341-15 22500 13 134-351-01 9000 14 134-351-08 15276.8 15 134-351-09 5580 16 134-351-10 3677 17 134-351-14 22707.9 18 134-351-15 6600 19 134-351-16 8000 20 134-351-17 8000 21 134-351-18 6930 22 134-351-21 2508.67 23 TOTAL 187280 24 25 26 27 28 EXHIBIT "A" ~ I '7f:Got'!1) ~f~ ~ 11;0 4lJ ~ Ir;o @ 15'""00 @ @ 7 S-oO ~ 0 @ @ (!) /'1./ ~ ~ @ (i,7.ro f.1~o QOtDO I " .s-e; D ,r"I. @ ?..roo (?J4 '1.$bl> @ /I l S-o '1~ 7SDD @ -.,. t- ..,.- I.. -.. IS' ~ ~ ~ \U ~ ~ ~ -0 '" ~ ~ ~ - ~ - m -~ /I'iL~O '100 @) -l!- t- @ -S! I~' .., 00 90DO 3'.5~.:t @ -. .. "'U&1 @ -3 @) , IW ~ - ~ 1(,....$ ... ".,. -'I.z .2..s-2.. .7:> ~ ~ @) Z&4.f~ A\I-&t'f Ue:- 2 1 1ZIAL\'o I PA-":"L S.-z.e- $ S t>>UA eE ~'r6C . A-G~CY-OGlluEf) ~A:~.T1' u);//J/f If 1: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Parcel 134-341-03 134..,341-04 134-341-16 134-341-17 134-341-18 134-341-19 134-351-05 134-351-06 134-351-07 TOTAL EXHIBIT "B" PROPERTY TO BE ACQUIRED Area (Sq. Ft.) 6750 6750 7500 7500 7500 7500 31592 9088 8000 92180 EXHIBIT "B" - '-lS ... $~"" ~ , , ~ ~ ~ ~ ~ "1' ~ ~ p ~ ~ Co '* frao ~ ~.rI ~~Oti1) Ic;o' @ @ @ @ '@ .,. ~ ClO 1~OO .,~o() if(!) 0 @ ~f1l~1 IIO,u' ?IU @ C!) 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