HomeMy WebLinkAbout12832
23
24
26
27
28
1
2
3
RESOLUTION NO. / ~ i 5;0
4
RESOLUTION OF THE CITY OF SAN BERNARDINO APPROVING THE SALE
OF CERTAIN PARCELS OF REAL PROPERTY LOCATED ON THE NORTH SIDE OF
FIFTH STREET BETWEEN MT. VIEW AVENUE AND SI~RRA WAY IN THE CENTRAL
CITY EAST PROJECT AREA BY THE REDEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO (HEALTH & SAFETY CODE SECTION 33433).
5
(j
7
8
9
WHEREAS, the Redevelopment Agency of the City of San
Bernardino is the owner of certain lots and parcels of real
property situated on the north side of Fifth Street between Mt.
View Avenue and Sierra Way; and
WHEREAS, said real property was purchased on or about
MarCh 21, 1975 for a total purchase price of $86,625.00; and
10
11
WHEREAS, the Redevelopment Agency of the City of San
Bernardino proposes to sell said parcels of real property to
Foss-Beresford Investment Properties for the sum of $50,000.00
12
13
14
cash; and
15
16
WHEREAS, said selling price is less than the estimated
fair market value of the parcels of real property; and
17
WHEREAS, said $50,000.00 selling price is necessary to
I effectuate the purposes of the Redevelopment Plan; and
i
18
19
WHEREAS, Foss-Beresford Investment Properties have pro-
20
posed a development for said parcels of property as a two-story
21
22
office building and gymnasium; and
WHEREAS, notice of the time and place of hearing has been
given as required by law; and
2S
WHEREAS, the Redevelopment Agency has made available for
public inspection and copying all of the information required by
law; and
. . . . .
. . . . .
1
2
3
4
S
6
7
8
9
10
11
12
13
14
lS
16
17
18
19
20
21
22
23
24
25
26
27
~ 28
11
.~
." .
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 that the sale is for less than the
estimated value of the aforesaid lots and parcels of real property
determined at the highest use permitted under the Central City
East Redevelopment Project Area Redevelopment Plan and that such
lesser consideration is necessary to effectuate the purposes of
said Plan for the following reasons:
1. Article V B of the Redevelopment Plan provides and
allows commercial uses, including, without limitation, business
offices, professional offices, retail stores and shops and other
office functions as may be directly related to industry and
commerce as well as the general public.
2. The parcels of real property have been owned by the
Agency since March 21, 1975, and the Agency has been unable to
sell said properties for development since that time.
3. There is strong competition from the County of San
Bernardino and from other cities in the area to induce and
persuade developers to locate their developments in their areas.
Should the Redevelopment Agency be unable to sell these properties
for the sale price set forth herein, the developer will undoubtedl
develop his building elsewhere and the parcels will remain un-
developed, the Agency will continue to be burdened with payments
of interest on the trust deed on the properties and the Agency
would lose tax increment which would be generated by development.
4. The proposed development waives any claim for finder's
fee and assistance using tax increment monies for the development
-2-
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
~ 20
21
II
!l 22
I
I
i 23
,
l'
24
25
26
27
28
.1\
II'
il
provided for by established Agency policy." The selling price of
the property will give a net return greater than a sale in
accordance with established procedures.
5. Approximately $30,000.00 per year in tax increment
will be realized from the proposed development, and, therefore,
the Redevelopment Agency will recover the difference between the
property and its estimated fair market value determined at the
highest and best use consistent with the Redevelopment Plan in
less than two years.
6. Should the Redevelopment Agency not sell the parcels
of real property as proposed herein, the Redevelopment Plan for
this project area cannot be effectuated.
BE IT FURTHER RESOLVED that the Mayor and Common Council
of the City of San Bernardino hereby approve the sale of the said
parcels of real property upon the terms, conditions, and reasons
herein set forth.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and COmmon Council of the City of San
Bernardino at a ~"'~
on the ~()Yi day of tl >J<./~
vote, to wit: (/
meeting thereof, held
, 1977, by the following
AYES:
,...
COuncilmen
NAYS:
ABSENT: /9,''''''' J
~/Af~+~~k
1/
t
. . . . .
. . e. . .
-3-
..
Tbe~... ree.letie.
. .-", 1977.
tI
. f!
1:-
I:
,
j
]
I
IOf
: II
1
2
5
6
Approved a8 to form:
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
-.
cP.':?" J. day
"
/'
,
F f'L E"O
.. JtJN 241977
LUCILLE GOFORTH. City QerIl
..::22l_-:tL4.z.:-oc;7..;.b:........
_A_