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RESOLUTION NO. 82-79
RESOLUTION OF THE CITY OF SAN BERNARDINO APPROVING A PROPOSED
ION TO PURCHASE OF ONE PARCEL OF REAL PROPERTY LOCATED IN THE
DOWBROOK-CENTRAL CITY REDEVELOPMENT PROJECT AREA NO. 1 WITH
LISH ENTERPRISES, INC., BY THE REDEVELOPMENT AGENCY OF THE CITY
SAN BERNARDINO (HEALTH & SAFETY CODE SECTION 33433).
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AS FOLLOWS:
SECTION 1. Recitals.
(a) The Redevelopment Agency of the City of San Bernardino
("Agency") proposes to enter into a Proposed Option to Purchase
with English Enterprises, Inc. ("Developer") for one parcel of
real property located in the Meadowbrook-Central City
Redevelopment Project Area No. 1, described in Exhibit "A"
attached hereto and incorporated herein by reference as though set
forth in full, for the sum of $140,000.00 which will be paid by
the Developer at close of escrow. Fifth thousand dollars is paid
for the option, as a non-refundable option fee, creditable toward
the purchase price.
(b) Notice of the time and place of hearing has been given
as required by law.
(c) Agency has made available for public inspection and
copying a summary of financial aspects of the proposed option to
ase.
(d) The summary of financial aspects represents that the
market value of the interest to be conveyed by Agency,
mined at the highest use permitted under the plan, is
140,000.00.
(e) All hearings have been held as required by Health and
afety Code Section 33433.
I SECTION 2. Determination. Based upon the representations of
2 Agency, it is found and declared that the consideration for the
3 real property described in Exhibit "A", in accordance with
4 covenants and conditions governing the sale, is not less than the
5 fair market value of the property determined at the highest use
6 permitted under the plan for the Meadowbrook-Central City
7 Redevelopment Project Area No. 1.
8 SECTION 3. Approval. The Mayor and Common Council of the
9 City of San Bernardino hereby approve the Proposed Option to
10 Purchase upon the terms and conditions set forth in this
11 resolution and the summary of financial aspects.
12 I HEREBY CERTIFY that the foregoing resolution was duly
13 adopted by the Mayor and Common Council of the City of San
14 Bernardino at a regular meeting thereof, held
15 on the 15th day of February 1982, by the following
16 11vote, to wit:
17 AYES: Council Members Castaneda, Reilly, Botts,
18 Hobbs, Strickler
19 NAYS: Council Member Hernandez
20 ABSENT: None
21
22 City rk
23 The foregoing resolution is hereby approv is / 2-71111 day
24 Jl f February , 1982. lJ _ A
25
11.M
26 1 pproved as to f
27 _ D. i
28 IFlty Attorney
COURT STREET
2ND STREET
EXHIBIT p
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