RDA Resolution 1991-04 RESOLUTION NO. 91- RA91-4
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT
AGENCY APPROVING THE EXECUTION OP. AN
AGREEMENT FOR THE PURCHASE AND SALE OF
REAL PROPERTY BY AND BETWEEN THE LA QUINTA
REDEVELOPMENT AGENCY AS THE ASSIGNEE OF
THE CITY OF LA QUINTA AND FRMiK A.
MURPHY, JEAN M. DALES, FRANK TIMOTHY
MURPHY AND PATRICIA M. LANE.
WHEREAS, the La Quinta Redevelopment Agency the Agency")
under the provision of the California Community Redevelopment Law, is
engaged in activities pursuant to the redevelopment plan for Project
Area No. 2.
WHEREAS, the Agency desires to enter into an Agreement for the
purchase and Sale of Real Property the Agreement") with Frank A.
Murphy, Jean M. Dales, Frank Timothy Murphy and Patricia M. Lane, as
their interests are set out in the Agreement collectively referred
to as Murphy"), which Agreement provides for the Agency to purchase
and Murphy to sell the Murphy Property; and
WHEREAS, the Agreement is in the form of that certain escrow
instructions for Escrow No. 4901-JC dated February 22, 1991; and
WHEREAS, the Agency has duly considered all terms and
conditions of the Agreement and believes that the Agreement is in the
best interests of the Agency and the health, safety and welfare of
the residents of the City of La Quinta, and in accordance with the
public purposes and provisions of applicable State and local law
requirements; and
WHEREAS, the staff has presented evidence establishing the
purchase price to be equal to the fair market value of the s*bject
property; and
WHEREAS, the Agency has determined that, pursuant to Section
15061(b)(3) of the State of California Environmental Quality Act
CEQA") Guidelines, the execution of the Agreement of and by itself
will not cause a significant effect on the environment because
environmental circumstances and conditions of the subject property
will not be changed.
WHEREAS, the Agency shall be borrowing the funds necessary to
comply with the terms of the Agreement from the City of La Quinta
City") pursuant to a loan agreement between the City and the Agency
the Loan Agreement'1) which provides for funds for the acquisitions
of property within Project Area No. 2.
NOW, THEREFORE, the Agency does hereby find, determine, order
and resolve as follows:
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RESOLUTION NO. RA 91-4
Section 1. The Agency hereby finds and determines that
approval and execution of the Agreement is exempt from CEQA pursuant
to Section 15061(b)(3) of the State CEQA Guidelines.
Section 2. The Agency finds and determines based upon the
testimony and information presented by staff *ith respect to the
Agreement that the consideration to be paid by the Agency for the
acquisition is equal to the fair market value thereof.
Section 3. The Agency hereby approves the Agreement and the
Loan Agreement and authorizes and directs the Chairman and the
Executive Director to execute the Agreement and all documents
referred in the Agreement necessary to effectuate the provisions of
the Agreement.
PASSED, APPROVED and ADOPTED this j-nd day of April
1991.
AYES:' Mr. Bohnenberger, Mrs. Franklin, Mr. Rushworth,
Mr. Sniff & Chairman Pena
NOES: None
ABSENT: None
ABSTAIN: None
*Secretary
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