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HomeMy WebLinkAboutRDA RES 334RESOLUTION NO. 334 A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY APPROVING THE SALE TO INTRAWEST RESORT OWNERSHIP CORPORATION OF APPROXIMATELY 47 ACRES OF REAL PROPERTY NORTH OF COUNTRY CLUB DRIVE, WEST OF COOK STREET, AND EAST OF PORTOLA AVENUE THE PALM DESERT REDEVELOPMENT AGENCY HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS: Section 1• On February 13, 1997, the City Council of the City of Palm Desert and the Palm Desert Redevelopment Agency (the "Agency") held a duly noticed joint public hearing on the approval of the Agency's proposed sale of certain real property (the "Property") located in the Agency's Project Area No. 2, as described in that certain Disposition and Development Agreement (the "DDA") between the Agency and Intrawest Resort Ownership Corporation ("IROC"), at which time all persons desiring to comment on or ask questions concerning the sale of the Property to IROC were given the opportunity to do so. Prior to the public hearing, information concerning the Agency's proposed sale of the Property to IROC was available for public inspection in the ofiices of the City of Palm Desert at 73-510 Fred Waring Drive, Palm Desert, California 92260, between the hours of 8:00 a.m. and 5:00 p.m., Monday ihrough Friday. Notice of the public hearing was published in the Palm Desert Post on January 30, 1997 and February 6, 1997. Section 2• The Agency has reviewed and considered all written and oral comments, questions and concerns regarding the Agency's proposed conveyance of the Property to IROC received prior to and at the public hearing on said conveyance. �ection 3. The environmental impacts of the Agency's proposed sale of the Property to IROC for the development of improvements thereon was analyzed in the Final Environmental Impact Report for the Section Four North Sphere Project (the "EIR"). The City certified the EIR by Resolution No. 94-119, "Resolution of the City Council of the City of Palm Desert, California, Certifying an Environmental Impact Report for a Proposed Section Four Site Plan Bounded by Frank Sinatra Drive on the North, Cook Street on the East, Country Club Drive on the South, and Portola Avenue on the West. " In addition, the Agency finds that there have not been any (i) subsequent material changes in the project, (ii) significant new environmental impacts not previously considered as a part of the project, or (iii) new information relating to the project which would require supplemental environmental documentation for the sale of the Property to IROC. Section 4. The DDA provides that IROC shall have the right to construct certain improvements on the Property as therein described, including, among other things, a timeshare project and associated amenities. -1- __. 97Q202 jar e066-l.jar RESOLUTION NO. 334 e ti n. The Agency has obtained an evaluation of the fair market value of the Property from REASCO, who has determined that the fair market value of Phase I, at the highest and best use of Phase I, is $7,775,000, and of the fair market value of Phases II and III, at the highest and � best use of Phases II and III, is $7,000,000. Section 6. Project Area No. 2 is an area which has previously been identified in the Redevelopment Plan as a blighted area. The area has previously been determined to create a social and economic burden on the community which cannot reasonably be expected to be reversed or alleviated by private enterprise or governmental action, or both, without redevelopment. In addition, Project Area No. 2 contains vacant and under-utilized properties and properties which suffer from econc�mic dislocation, deterioration or disuse, including depreciated or stagnant property values ancl impaired investments. Project Area No. 2 is characterized by the existence of inadequate public improvements, public faciiities and open spaces which cannot be remedied by private or governmental action without redevelopment. Section 7. The Agency hereby finds that the sale of tt�e Property pursuant to the DDA will assist in the elimination of blight by IROC's construction of the improvements described in the DDA on previously vacant, under-utilized iand, which will remedy the lack of adequate public improvements, assist in the revitalization of Project Area No. 2, encourage private sector investment and create job opportunities, all for the health, safety and welfare of the residents and taxpayers of the City. Section g• The Agency hereby finds that the consideration to be paid by IROC is not -- less than the fair market value of the Property at its highest and best use in accordance with the Redevelopment Plan for Project Area No. 2 of the Agency. -2- 970202 jar e066-l.jar RESOLUTION NO. 334 �ection 9• The Agency hereby approves the DDA and the sale of the Property to IROC in accordance wiih the terms and conditions of the DDA pursuant to the requirements of Health and Safety Code Section 33433(b). PASSED, APPROVED and ADOPTED this 13th day of February, 1997. AYES: CRITES, SNYDER AND KELLY NOES: BENSON, SPIEGEL ABSENT: NONE ABSTAIN: NONE S. Kelly, Chairman Attest: ( !!v' ' j \ � �.1,�'� �'�-�> �.�-�.t.�x �e<.�:.��`�- Sheila . illigan, Secretary " -3- --- 970202 jar e066-l.jar