CC Resolution 2003-036 RESOLUTION NO. 2003-036
·
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA APPROVING A DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE LA QUINTA
REDEVELOPMENT AGENCY AND CENTER POINT
DEVELOPMENT, LLC FOR THE PROPERTY LOCATED AT
THE 'SOUTHEAST CORNER OF WASHINGTON STREET
AND MILES AVENUE
WHEREAS, the La Quinta Redevelopment Agency ("Agency") is a public
body, corporate and politic, organized and existing under the California Community
Redevelopment Law (Health & Safety Code ' 33000 et seq.) ("CRL"); and
WHEREAS, pursuant to the CRL, the City Council of the City of La Quinta
("City" or "City Council", as applicable) approved and adopted the Redevelopment Plan
("Redevelopment Plan") for Project Area No. 2 ("Project Area"), on November 29,
1983, by Ordinance No. 43, and amended the Redevelopment Plan on December 20,
1994, by Ordinance No. 258; and
WHEREAS, the Agency staff has negotiated a Disposition and
Development Agreement ("Agreement") with Center Point Development, LLC, a
California limited liability company ("Developer"), pursuant to which the Agency is to
convey to the Developer, either all at once ("Option A"), or in phases ("Option B"),
certain real property located within the Project Area (the "Property") for Seven Million
Fifty-Four Thousand Seventy-Four Dollars ($7,054,074) for the Developer's
subsequent development thereon of a commercial project containing a medical
office/clinic, a boutique hotel, a mid-price suites hotel, a resort-style
condomimium/casistas development, two sit-down restaurants, and two single-family
residential developments, with forty of the single-family homes restricted for sale to
moderate-income buyers at an affordable housing cost, all as more particularly
described in the Agreement (collectively, the "Project"); and
WHEREAS, the Agreement provides that Agency may reacquire any
undeveloped portion of the Property that is then owned by the Developer in the event
the Developer fails to commence construction of any particular phase of the Project
within certain specified time frames, interrupts construction of a particular phase of
the Project for a specified period of time, or transfers a particular phase of the Project
in violation of the Agreement, all as more particularly described in the Agreement; and
Resolution No. 2003-036
Center Point Dispoaition and Development Agreement
Adopted: June 3, 2003
Page 2
WHEREAS, Health and Safety Code Section 33433 requires that the
Agency prepare a Summary Report to consider the Agency's proposed sale of the
Property as set forth in the Agreement, that the Agency Board and the City Council
conduct a noticed joint public hearing with respect to the Agreement, and that the
approval of the Agreement be accompanied by certain findings and determinations as
set forth herein; and
WHEREAS, a Summary Report for the Agreement has been prepared and
the joint public hearing has been conducted in accordance with applicable requirements
of law; and
WHEREAS, the City Council and the Redevelopment Agency have
considered all the information and evidence set forth in the Summary Report presented
by the City/Agency staff and presented by persons wishing to appear and be heard
concerning the impact of the Agreement on the Project Area and the City as a whole;
and
WHEREAS, the Agreement is in accordance with the Redevelopment Plan
and is of benefit to the Project Area and the City of La Quinta; and
WHEREAS, the City Council hereby determines that the Agency's sale of
the Property pursuant to the Agreement is necessary to effectuate the purposes of the
Redevelopment Plan;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF LA QUINTA AS FOLLOWS:
1. That the above recitals are true and correct and incorporated herein.
2. That the City Council of the City of La Quinta hereby resolves as follows:
A. The Agreement effectuates the purposes of the Community
Redevelopment Law (Health & Safety Code Section 33000 et seq.) and
of the Redevelopment Plan and is in the best interests of the citizens of
the City of La Quinta.
B. The Agency's sale of the Property will eliminate blight and is consistent
with the Agency's Five-Year Implementation Plan, based on the findings
and conclusions of the Summary Report, which is incorporated herein.
Resolution No. 2003-036
Center Point Disposition end Development Agreement
Adopted: June 3, 2003
Page 3
C. The Agency's sale of the Property will eliminate blight in that it will
facilitate the development of affordable housing.
D. The consideration the Developer will pay for the Property is not less than
the fair market value of the Property at its highest and best use in
accordance with the Redevelopment Plan, based on the findings and
conclusions of the Summary Report.
3.. The Agreement, a copy of which is on file with the Agency Secretary, is hereby
approved. The City Council consents to the Agency's authorization and
direction to its Executive Director and Agency Counsel to make final
modifications to the Agreement that are consistent with the substantive terms
of the Agreement approved hereby, and to thereafter sign the Agreement on
behalf of the Agency.
4. The City Council consents to the Agency's authorization and direction to its
Executive Director to (i) sign such other and further documents, including but
not limited to subordination agreements and escrow instructions that require the
Agency's signature, and (ii) take such other and further actions, as may be
necessary and proper to carry out the terms of the Agreement.
PASSED, APPROVED, and ADOPTED at a regular meeting of the City
Council of the City of La Quinta held this 3rd day of June, 2003, by the following
vote:
AYES: Council Members Henderson, Osborne, Perkins, Sniff, Mayor Adolph
NOES: None
ABSENT: None
ABSTAIN: None
City of La Quinta, California
Resolution No. 2003-036
Center Point Disposition and Development Agreement
Adopted: June 3, 2003
Page 4
ATTEST:
JUNL~S~. GREEK, C~C, Cit~l~erk
City of La Quinta, California
(City Seal)
APPROVED AS TO FORM'
M. KATHERINE JEI~SON, Cit~Y Attorney
City of La Quinta, California