RDA Resolution 2007-009
RESOLUTION NO. RA 2007-009
A RESOLUTION OF THE LA GUINTA REDEVELOPMENT AGENCY
APPROVING A PROBATE PURCHASE AND SALE AGREEMENT AND
JOINT ESCROW INSTRUCTIONS BETWEEN THE LA GUINTA
REDEVELOPMENT AGENCY AND THE ESTATE OF AUDREY B.
OSTROWSKY, FOR PROPERTY DESCRIBED AS LOTS 5-12, BLOCK
129 SANTA CARMELlTA AT VALE LA aUINTA NO. 14 (APN
773-077-()14)
WHEREAS, the La Quinta Redevelopment Agency ("Agency") is a
public body, corporate and politic, organized and existing under the California
Community RedElvelopment Law ("Health & Safety Code ~ 33000 et seq.) ("CRL");
and
WHEREAS, pursuant to the CRL, the Agency and the City Council of
the City of La Cluinta ("City" or "City Council," as applicable) previously approved
and adopted thl~ Redevelopment Plan, as amended ("Redevelopment Plan") for
Project Area No.1 ("Project Area"); and
WHEREAS, Health and Safety Code Section 33391 authorizes the
Agency to acquire real property for purposes of redevelopment; and
WHEREAS, Agency staff has negotiated a Probate Purchase and Sale
Agreement and .Joint Escrow Instructions ("Agreement") with the Estate of Audrey
B. Ostrowsky ("'Seller"), which provides for Agency's purchase from Seller of
certain real property located in the Project Area (the "Property") for One Million One
Hundred Seventy-Five Thousand Dollars ($1.175,000.00), conditioned on Agency's
satisfaction or waiver of all of the conditions to close set forth in the Agreement;
and
WHEREAS, all actions required of the Agency to be taken precedent to
review and consideration of the Agreement by the Agency have been taken in
accordance with applicable law.
NOW, THEREFORE, BE IT RESOLVED BY THE LA GUINTA
REDEVELOPMENIT AGENCY AS FOLLOWS:
1 . The Agency 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 Quinta.
Resolution No. RA 2007-009
Purchase and Sale Agreement - Ostrowsky
Adopted: August 7. 2007
Page 2.
2. The Agreement, a copy of which is on file with the Agency Secretary,
is hereby approved. The Agency Executive Director and Agency Counsel are
hereby authorized and directed to make final modifications to the Agreement that
are consistent with the substantive terms of the Agreement approved hereby, and
the Agency Executive Director is authorized to thereafter. sign the Agreement on
behalf of the Agency.
3. The Agency Executive Director is authorized and directed, on behalf of
the Agency, 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 La
Quinta Redevelopment Agency held this 7th day of August, 2007, by the following
vote:
AYES: Board Members Henderson, Kirk, Sniff, Chairman Osborne
NOES: None
ABSENT: Board Member Adolph
ABSTAIN: None
ATTEST:
Resolution No. RA 2001'-00g
Purchase and Sale Agrell!ment - Ostrowsky
Adopted: August 7. 2007
Page 3
APPROVED AS 'TO FORM:
, Agency Counsel
ent Agency