HomeMy WebLinkAboutOB-085RESOLUTION NO. OB - 085
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY
AUTHORIZING THE EXECUTION OF A DISPOSITION AGREEMENT
FOR PROPERTY LOCATED AT NORTHEAST CORNER OF SHADOW
MOUNTAIN AND LARKSPUR LANE, PALM DESERT, CA (APN 627-
262-008 AND 627-262-011, PROPERTIES 7a and 7b OF THE LONG
RANGE PROPERTY MANAGEMENT PLAN) WITH EL PASEO HOTEL,
LLC
RECITALS:
A. Pursuant to AB X1 26 (enacted in June 2011), as modified by the
California Supreme Court's decision in California Redevelopment Association, et al. v.
Ana Matosantos, et al., 53 Cal. 4th 231 (2011), the Palm Desert Redevelopment
Agency (the "Former Agency") was dissolved as of February 1, 2012 and the Successor
Agency was established, and the Oversight Board to the Successor Agency (the
"Oversight Board") was constituted.
B. AB 1484 (enacted June 2012) amended and supplemented AB X1 26 (AB
X1 26 and AB 1484, together, being referred to below as the "Dissolution Act").
C. Pursuant to the Dissolution Act, the Successor Agency is tasked with
winding down the affairs of the Former Agency.
D. Pursuant to Section 34175(b) of the California Health and Safety Code
("HSC"), all real properties of the Former Agency transferred to the control of the
Successor Agency by operation of law.
E. On May 5, 2014, the Oversight Board adopted Resolution No. OB-073,
approving a long-range property management plan (the "LRPMP") which addresses the
disposition of the real properties owned by the Successor Agency.
F. As indicated in the DOF's letter dated June 2, 2014, the DOF has
approved the LRPMP.
G. Pursuant to HSC Section 34191.3, the DOF-approved LRPMP shall
govern, and supersede all other provisions of the Dissolution Act relating to, the
disposition and use of the real property assets of the Former Agency.
H. Pursuant to the approved LRPMP, the Oversight Board authorizes the
execution of a Disposition Agreement with El Paseo Hotel, Inc. for Properties 7a and 7b
of the LRPMP (APN 627-262-008 and 627-262-011) in the amount of $2,200,000.00
(fair market value).
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RES. NO. OB - 085
I. In accordance with the terms of California Health and Safety Code Section
34191.5(c)(2)(B), the proceeds of this property sale will distributed as property taxes to
the affected taxing entities.
J. The Oversight Board is adopting this Resolution to direct the execution of
the Disposition Agreement with El Paseo Hotel, LLC for fair market value as directed by
the approved LRPMP.
K. Notice of the proposed action presented in this Resolution was posted on
the Successor Agency's website (being a page on the City's website) and at three
public places: beginning on JULY 18, _, 2014.
NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY DOES HEREBY
RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
Section 1. The above recitals, and each of them, are true and correct.
Section 2. The Oversight Board hereby authorizes and directs the Successor
Agency to complete the execution of the Disposition Agreement with El Paseo Hotel,
LLC for fair market value as directed by the approved LRPMP. The Chair (or in the
Chair's absence, the Vice Chair) of the Board of Directors of the Successor Agency is
hereby authorized to execute the Disposition Agreement to complete the disposition of
the properties.
Section 3. The members of the Oversight Board and officers and staff of the
Successor Agency are hereby authorized and directed, jointly and severally, to do any
and all things which they may deem necessary or advisable to effectuate this
Resolution.
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RES. NO. OB - 085
Section 4. This Resolution shall become effective in accordance with HSC
Section 34181(f).
APPROVED and ADOPTED this 28TH day of JULY , 2014.
AYES: BUCK, CARVER, JONATHAN, and SPIEGEL
NOES: NONE
ABSENT: BRANDL, KINNAMON, and LARSON
ABSTAIN: NONE
J
ROBERT A. S'IEGEL, CH
ATTEST:
RA —rLLE D. KLI SSEN, " ECRETARY
OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE
PALM DESERT REDEVELOPMENT AGENCY
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RESOLUTION NO. OB - 085
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