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RESOLU'lUON NO. LJ.</.</-;/
RESOLUTION OF THE CITY OF SAN BERNARDINO APPROVING THE
SALE OF A PARCEL OF REAL PROPERTY LOCATED AT 494-498 "E" STREET,
SAN BERNARDINO, IN THE CENTRAL CITY NORTH PROJECT AREA TO H. FRANK
DOMINGUEZ, dba VANIR RESEARCH COMPANY, DAVID D. MILLER AND
DENYSE M. MILLER BY THE REDEVELOPMENT AGENCY OF THE CITY OF SAN
B~RNARDINO. (HEALTH & SAFETY CODE SECTION 33433)
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6 WHEREAS, the Redevelopment Agency of the City of San
7 Bernardino is the owner of a certain parcel of real property
8 located at 494-498 "E" Street, San Bernardino and situated in the
10 described in Exhibit "A", attached hereto and incorporated by
9 Centra 1 City North Redevelopment Project Area, more particularly
11 reference herein as fully as though set forth at length; and
12 WHEREAS, said property was purchased on March 21, 1975,
13 at a total cost of Eight Hundred Seventy-eight Thousand Four
14 Hundred Dollars and Twenty-two Cents ($878,400.22), the fair
15 market value of the aforesaid property for the highest and best
16 use consistent with the Redevelopment PIan; and
17 WHEREAS, the Redevelopment Agency of the City of San
18 Bernardino proposes to sell said parcel of real property to
19 H. Frank Dominguez, dba Vanir Research Company, David D. Miller
20 and Denyse M. Miller, hereinafter referred to as "Developers",
21 for the sum of Seven Hundred Seventy-five Thousand Dollars
22 ($775,000.00), which will be paid by Developers pursuant to a
23 contract of sale; and
24 WHEREAS, the said selling price is less than the estimated
25 fair market value of the property being sold; and
26 WHEREAS, said Seven Hundred Seventy-five Thousand Dollar
27 ($775,000.00) selling price is necessary to effectuate the
28 purposes of the Redevelopment PIan; and
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WHEREAS, Developers have proposed a development for said
real property as a retail outlet store; and
WHEREAS, Developers will develop said building upon the
real property with a total value of Seven Hundred Seventy-five
Thousand Dollars ($775,000.00); and
WHEREAS, Developers desire to have the building in actual
operation as soon as possible; 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 all of the information required by
law; and
WHEREAS, all hearings have been held as required by
Health and 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 is
for less than the estimated fair market value of the parcel of
real property being sold, determined at the highest use permitted
under the Central City North Redevelopment Project Area Redevelop-
ment PIan and that such lesser consideration is necessary to
effectuate the purposes of said pIan for the following reasons:
1. The Redevelopment PIan provides for and allows uses
including, without limitation, residential, retail and offices,
financial offices and professional offices, convenience neighbor-
hood centers, general commercial, hotel-motel and other compatible
uses that may be of direct benefit to the general public.
2. The real property being sold has been owned by the
Agency since March 21, 1975, and has been available for sa Ie with-
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out any better offers therefor being made, and the Redevelopment
Agency has been unable to sell said property for development
since that time.
3. There is an extreme need for the development as
planned by Developers in this area, and if the Agency does not
sell the property for the sale price provided herein, Developers
will not 10cate their development in the City of San Bernardino,
and the land will remain undeveloped with the Agency continu~ng
to maintain the property, 10sing the tax increment revenue which
will be generated by the development.
4. Any claim for a finder's fee provided for by
established Redevelopment Agency policy for the proposed develop-
ment has been waived.
5. All of the recitals set forth hereinabove are incor-
porated herein by reference.
6. Approximately Seven Thousand Seven Hundred Fifty
Dollars ($7,750.00) per year in tax increment revenues will be
realized from the proposed development, and the Redevelopment
Agency will recover the difference between the selling price of
the property and its estimated fair market value determined at
the highest and best use consistent with the Redevelopment Plan
in approximately thirteen years.
7. Should the Redevelopment Agency not sell the parcels
of real property as proposed herein, the Redevelopment PIan for
this project area could not be effectuated.
BE IT FURTHER RESOLVED that the Mayor and Common Council
of the City of San Bernardino hereby approve the sale of said
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1 parcel of real property upon the terms, conditions, and for the
2 '; reasons herein set forth.
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3 II I HEREBY CERTIFY that the foregoing resolution was duly
4 Ii adopted by the Mayor and Common Council of the City of San
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Bernardino at a hfH-'f:t. '
on the /1'/i. day "Of ~k
meeting thereof, held
, 1978, by the following
7 vote, to wit:
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NAYS:
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reso uhon -i~] ereby approve t!1~/~ ~ay
1978.
~no
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AYES:
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ABSENT:
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Jji:Zoin:
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of
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as to form:
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F f'LE D
StP 191978
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EXHIBIT "A"
All that portion of Lot 6. Block Z8. CITY OF SAN BERNARDINO. in
the City of San Bernardino. County of San Bernardino. State of
California. as per plat recorded in Book 7 of Maps. page 1. records
of said County. and more particularly described as follows:
PARCEL NO.1: Commencing at a point on the West line of "E" Street.
57-I/Z feet North of the Southeast corner of said Lot; thence North
to the Northeast corner of said Lot; thence West along the North line
of said Lot 150 feet to the middle of the North line of said Lot: thence
South to a point 57-In feet North of the South line of said Lot; thence
East to the point of beginning.
PARCEL NO. Z: Beginning at the Northeast corner of the West In
of Lot 6; thence South 150 feet. more or less. to the Southeast corner
of the West In of said Lot: thence West 50 feet: thence North 150 feet.
more or less. to the North line of said Lot: thence East 50 feet to the
point of beginning.
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