CC Resolution 2005-025
RESOLUTION NO. 2005-025
A RESOLUTION OF THE CITY COUNCil OF THE CITY
OF LA QUINT A APPROVING A PURCHASE AGREEMENT
BETWEEN THE lA QUINT A REDEVELOPMENT AGENCY
AND SAM'S REAL ESTATE BUSINESS TRUST FOR THE
PROPERTY lOCATED AT THE INTERSECTION OF
HIGHWAY 111 AND DUNE PALMS ROAD
WHEREAS, the La Ouinta 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 (IICityll or IICity Council," as applicable) approved and adopted the
Redevelopment Plan ("Redevelopment Plan") for Project Area No. 2 ("Project
Area"), on May 16, 1989, by Ordinance No. 139; and
WHEREAS, the Agency staff has negotiated a Purchase Agreement
(" Agree~ent") with Sam's Real Estate Business Trust, a Delaware statutory trust
("Sam's"), pursuant to which the Agency is to sell to Sam's certain real property
located within the Project Area at the intersection of Highway 111 and Dune Palms
Road (the "Property") comprising approximately 9.59 acres for Twelve Dollars and
Twenty-Six Cents ($12.26) per square foot, with the purchase price estimated to
be Five Million One Hundred Twenty-One Thousand Four Hundred Ninety-Two
Dollars ($5,121,492.00) pursuant to the terms and conditions set forth in the
Agreement; and
WHEREAS, the Planning Commission and the City Council have
considered and approved an amendment to the Center at La Ouinta Specific Plan
(the IISpecific Plan") to incorporate the Property. The use proposed by Sam's is
consistent with the Specific Plan. In addition, an Environmental Assessment
(2004-524) was prepared for this development and the remaining development of
the Specific Plan area. The Environmental Assessment fully assessed the impacts
of the development of these areas as well as the affordable housing project on the
southern portion of the specific plan area. On the basis of that Environmental
Assessment, the City Council certified a Mitigated Negative Declaration of
Environmental Impact on December 21, 2004. A Notice of Determination was filed
with the County Clerk on December 22, 2004. City staff and the City's
consultants have carefully reviewed the scope of the development proposed by
Sam's and have concluded that the potential impacts of its construction and
operation are well within those previously analyzed in the Environmental
Resolution No. 2005-025
Sam's Real Estate Business Trust Purchase Agreement
Adopted: March 15, 2005
Page 2
Assessment and that no additional impacts will result from the project. In addition,
there is no new information or change in circumstances which would trigger any
obligation to complete further environmental analysis. Therefore, City staff has
determined that no further environmental review is necessary pursuant to California
Public Resources Code Section 21166.
WHEREAS, Health and Safety Code Section 33431 requires that the
Agency Board and the City Council conduct a noticed joint public hearing with
respect to the Agency's sale of the Property pursuant to the Agreement; and
WHEREAS, the joint public hearing has been conducted in accordance
with applicable requirements of law; and
WHEREAS, the City Council and the Agency have considered all the
information and evidence presented by the City/Agency staff and presented by
persons wishing to appear and be heard concerning the Agency's sale of the
Property pursuant to the Agreement; and
WHEREAS, the Agreement is in accordance with the Redevelopment
Plan and is of benefit to the Project Area and the City of La Ouinta; 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 Ouinta hereby finds and determines
that the Agreement effectuates the purposes of the Community
Redevelopment Law (Health & Safety Code § 33000 et seq.) .and of the
Redevelopment Plan and is in the best interests of the citizens of the City of
La Ouinta.
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
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Resolution No. 2005-025
Sam's Real Estate Business Trust Purchase Agreement
Adopted: March 15, 2005
Page 3
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 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 Ouinta held this 15th day of March, 2005, by the
following vote:
AYES: Council Members Henderson, Osborne, Perkins, Sniff, Mayor Adolph
NOES: None
ABSENT: None
ABSTAIN: None
DON ADOLPH, M r
City of La Ouinta, California
ATTEST:
~"L~.-eí~. ~ JJ
S.GREEK,City er
City of La Ouinta, California
M. K HERINE JENSO ity Attorney
City of La Ouinta, California