HomeMy WebLinkAbout1979-174
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RESOLUTION NO. 1 f - ! 7f
RESOLUTION OF THE CITY OF SAN BERNARDINO APPROVING THE I
SALE OF APPROXIMATELY 156.38 ACRES OF REAL PROPERTY LOCATED IN THE
VICINITY OF STATE COLLEGE PARKWAY AND INTERSTATE l5-E IN THE
STATE COLLEGE PROJECT AREA TO AROSA DEVELOPMENT & MANAGEMENT, INC.
BY THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO (HEALTH I
& SAFETY CODE SECTION 33433). 1
WHEREAS, the Redevelopment Agency of the City of San
Bernardino proposes to sell to Arosa Development & Management,
Inc'f
hereinafter referred to as "Developer", approximately 156.38
acres of real property located within the State College project
Area, described in Exhibit "An attached hereto and incorporated
herein by reference as though set forth in full, for the sum of
$2,502,080.00 which will be paid by the Developer in cash, and
WHEREAS, Developer proposes to deVelop on said teal
property industrial and commercial buildings, and
WHEREAS, notice of the time and place of hearing has been
given as required by law, and
WHEREAS, the Redevelopment Agency has made available for
public inspection and copying a summary of financial aspects of
the proposed sale, and
WHEREAS, the summary of financial aspects represents that
the fair market value of the interest to be conveyed is $16,000
per acre, which amounts to a total fair market value of
$2,502,080.00, and
WHEREAS, all hearings have been heard as required by
Health and Safety Code Section 33433,
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COl~ON
CQUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
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SECTION 1. It is found and declared that the considera-
2 tion for said real property, in accordance with covenants and
3 conditions governing such sale, is not less than the fair market
4 value of the property determined at the highest use permitted
5 under the plan.
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SECTION 2. The Mayor and Common Council of the City of
7 San Bernardino hereby approve the sale of said property upon the
8 terms, conditions, and for the reasons set forth herein.
9 I HEREBY CERTIFY that the foregoing resolution was duly
10 adopted by the Mayor and Common Council of the City of San
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a d4~
day o~ .
conn~=n, ~'~~~ ee'~
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meeting thereof, held
Bernardino at
on the 77*.-
, 1979, by the following
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vote, to wit:
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AYES:
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NAYS:
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ABSENT:
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da
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of
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FILE[)
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MAY -. 9197q
CITY CU:::;-~'(S UF;CC:
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EXHIBIT "A"