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CC Resolution 2000-023 RESOLUTION NO. 2000-23 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA QUINTA, CALIFORNIA APPROVING AND AUTHORIZING THE EXECUTION OF A PURCHASE AND SALE AGREEMENT BY AND BETWEEN THE LA QUINTA REDEVELOPMENT AGENCY AND THE LA QUINTA HISTORICAL SOCIETY FOR ACQUISITION OF PROPERTY TO BE OPERATED AS A PUBLIC MUSEUM AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH. WHEREAS, the La Quinta Redevelopment Agency (the "Agency") is engaged in activities necessary to carry out and implement the Redevelopment Plan (the "Redevelopment Plan") for La Quinta Redevelopment Project Area No. 1 (the "Project" or the "Project Area"); and WHEREAS, one of the specified activities in the Redevelopment Plan is the assistance with rehabilitating or constructing certain public improvements including but not limited to cultural facility improvements; and WHEREAS, the La Quinta Historical Society (the "Society") has established a historical museum open to the public (the "Museum") located at 77-885 Calle Montezuma in Project Area No. 1; and WHEREAS, the Agency finds that this public museum qualifies as a cultural facility pursuant to the Redevelopment Plan and that facility is in need of renovation and expansion in order to adequately address the needs of the community for preservation and education of the public of the area's historically significant artifacts; and WHEREAS, pursuant to Health and Safety Code Section 33445, the City Council acting as the legislative body finds that the acquisition for rehabilitation and expansion of the Museum is of benefit to the Project Area and the immediate neighborhood of the Museum; that no other reasonable means of financing the acquisition and any subsequent improvements are available to the community; and that the payment of funds for the acquisition and subsequent improvement will assist in the elimination of one or more blighting conditions inside the Project Area; and WHEREAS, the Agency has the ability to finance the acquisition over the long term but does not have the available funds immediately, and therefore it is necessary to borrow the required funds for the acquisition from the City pursuant to the same terms that the City and Agency have previously borrowed funds to support Agency projects pursuant to the Redevelopmerit Plan; and Resolution No. 2000-23 Historical Society/Museum Adopted: March 7, 2000 Page 2 WHEREAS, the Agency has noticed the time and place and has conducted a joint public hearing with the City pursuant to Health and Safety Code Section 33679 and has provided the information required including costs, purposes and finding of no alternative source of funding. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LA QUINTA, DOES HEREBY FIND AND RESOLVE AS FOLLOWS: SECTION 1. The above recitals are incorporated as true and correct findings by the City Council. SECTION 2. The Agency's purchase of the Museum pursuant to the Purchase and Sale Agreement is for fair market when taking into consideration the appraised amount and the benefit to the public in preserving the historical building and expanding its availability to the public. SECTION 3. The City shall lend the funds for the acquisition at the same 10% per annum interest rate and repayment terms as prior loans between the City and Agency. SECTION 4. The acquisition of the Museum is exempt under CEQA pursuant to Section 15325.Class 25(e) as it is an acquisition to preserve a historical resource. Prior to undertaking specific expansion of the Museum, additional environmental review will be conducted. SECTION 5. The Purchase and Sale Agreement and the Operating Agreement are approved for execution. SECTION 6. The City Clerk shall certify to the adoption of the Resolution in the manner required by law. PASSED, APPROVED and ADOPTED this 7th day of March, 2000 by the following vote: Resolution No. 2000-23 Historical Society/Museum Adopted: March 7, 2000 Page 3 AYES: Council Members Adolph, Henderson, Perkins, Sniff, Mayor Pefia NOES: None ABSENT: None ABSTAIN: None JO MaVor City of La Quinta, California ATTEST: UC~---K,C.-~tyC·/C'~- J REE lerk City of La Quinta, California (City Seal) APPROVED AS TO FORM: DAWN C. HONEYW~'I'L, City Attorney City of La Quinta, California