CC Resolution 2011-041;1 *10] toil lfLs]Lino �3' r7ria�L7i)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA, CONSENTING TO THE USE OF
REDEVELOPMENT AGENCY FUNDING FOR, AND
APPROVING PURCHASE AND SALE AGREEMENTS
WITH THE YESSAYIAN FAMILY LIMITED PARTNERSHIP
AND THE BANKRUPTCY TRUSTEE FOR THE ESTATE OF
MICHAEL ANTHONY FISCHER, SR., AND MAKING
CERTAIN FINDINGS PURSUANT TO HEALTH AND
SAFETY CODE SECTION 33445 WITH RESPECT TO THE
AGENCY'S EXPENDITURE
WHEREAS, the La Quinta Redevelopment Agency ( "Agency ") is a redevelop-
ment agency organized and existing under the California Community
Redevelopment Law ( "Health & Safety Code § 33000 et seq.) ( "CRL ") and has
been authorized to transact business and exercise the powers of a redevelopment
agency pursuant to action of the City Council of the City of La Quinta ( "City
Council" or "City," as applicable); and
WHEREAS, pursuant to the CRL, the City Council approved and adopted the
Redevelopment Plan ( "Redevelopment Plan ") for La Quinta Project Area No. 1
( "Project Area ") on November 29, 1983, by Ordinance No. 43; and
WHEREAS, Agency staff has negotiated a Purchase and Sale Agreement
with the Yessayian Family Limited Partnership, for real property located at 78 -153
Main Street (formerly Avenida Buena Ventura) and for real property located at 78-
181 Avenida La Fonda (collectively, "Properties ") for off - street parking
opportunities, the expansion of recreation opportunities, or the development of
affordable housing (collectively, the "Infrastructure Improvements "), to facilitate
access to the Village; and
WHEREAS, the Properties are located within the Project Area; and
WHEREAS, the Agreements would provide for the Agency's expenditure of
Four Hundred Two Thousand Five Hundred Dollars ($402,500) plus closing costs
to acquire the property located on Main Street and Two Hundred Seventy -Five
Thousand Dollars ($275,000) plus closing costs to acquire the property on La
Fonda;
WHEREAS, with the legislative body's consent and the satisfaction of certain
specified requirements set forth in Health and Safety Code Section 33445, the CRL
authorizes redevelopment agencies to expend tax increment funds to acquire real
property for, and to fund the cost of the installation and construction of, publicly
owned buildings, facilities, and improvements; and
Resolution No. 2011 -041
Property Purchase and Sale Agreements
APNs 770 -125 -003, 770 - 124 -004
Adopted: June 7, 2011
Page 2
WHEREAS, the Agreements are in accordance with the Redevelopment Plan
and is of benefit to the Project Area and the City of La Quinta; and
WHEREAS, the Agency's financial contribution pursuant to the Agreements
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:
SECTION 1. The above recitations are true and correct.
SECTION 2. Pursuant to Health and Safety Code Section 33445(a), the City
Council of the City of La Quinta finds and determines that:
A. The acquisition of land pursuant to the Agreements for the future
development of the Infrastructure Improvements is of benefit to the
Project Area, by helping to eliminate blight within the Project Area, in
that the Infrastructure Improvements ' will consist of public
infrastructure improvements, and the Redevelopment Plan provides for
the elimination, and prevention of the spread, of blight and blighting
influences through the installation, construction, or re- construction of
streets, utilities, and other public facilities and improvements.
B. No other reasonable means of financing the purchase of the Properties
or the Infrastructure Improvements is available, for the following
reasons: (i) City monies are dedicated to critical police, fire, and other
necessary expenditures, including other capital improvement projects;
(ii) the only practical means of paying for the Properties and
Infrastructure Improvements is to use Agency funding; (iii) without
Agency funding for the Property could not be acquired and the
Infrastructure Improvements would not be completed, all to the
detriment of the Project Area.
C. The acquisition of the Property and the future installation of the
Infrastructure Improvements are consistent with the Agency's
implementation plan adopted pursuant to Health and Safety Code
Section 33490 ( "Implementation Plan "), in that improving public
infrastructure and facilities within the Project Area are goals set forth
in the Implementation Plan.
SECTION 3. The Agency's expenditure for the Properties for future development
with the Infrastructure Improvements is necessary to effectuate the purposes of
the Redevelopment Plan and is in the best interests of the City of La Quinta.
SECTION 4. The Agreements are hereby approved. The City Council hereby
consents to the use of Agency funding to acquire the subject Properties.
Resolution No. 2011 -041
Property Purchase and Sale Agreements
APNs 770 - 125 -003, 770 -124 -004
Adopted: June 7, 2011
Page 3
SECTION 5. The City Council directs its City Manager to (i) sign such documents
that require the City's signature in order to effectuate the City's acquisition of the
Properties, and (ii) take such other and further actions as may be necessary and
proper to carry out the terms of the Agreements.
SECTION 6. The City Manager is authorized to accept the conveyances of the
Properties, and to take such other actions and execute such other documents as
may be necessary to implement and affect this Resolution on behalf of the City.
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
City Council held on this 7th day of June, 2011, by the following vote to wit:
AYES: Council Members Franklin, Henderson, Sniff, Mayor Adolph
NOES: None
ABSENT: Council Member Evans
ABSTAIN: None
1 no
DON ADOL Ma
City of La Quinta
ATT
VERONICA MONTECINO, CMC, CITY CLERK
City of La uinta
(City Seal)
APPROVED AS TO FORM:
G%
KATHERINE JENSON, City Attorney
City of La Quinta