HomeMy WebLinkAboutRDA RES 337RESOLUTION N0. 337
A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY
APPROVING PAYMENT BY THE AGENCY FOR ALL OR PART OF THE
� VALUE OF THE LAND FOR AND THE COST OF THE INSTALLATION
AND CONSTRUCTION OF PUBLICLY OWNED BUILDINGS (TWO
OFFICE BUILDINGS)
THE PALM DESERT REDEVELOPMENT AGENCY HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. The Palm Desert Redevelopment Agency (the
"Agency") owns two parcels of real property located in the City
of Palm Desert, California. One parcel is located at 73-710 Fred
Waring Drive and the other parcel is located at 73-720 Fred
Waring Drive. Each parcel is improved with an office building.
Section 2. The Agency previously leased the above-
described parcels, which were vacant at the time, to a developer
for the purpose of developing office buildings. The Agency
provided the necessary construction financing pursuant to loans
with the developer. The developer defaulted on the loan payments
and consequently the Agency became the owner of the buildings.
�" Section 3. Pursuant to provisions of the Community
Redevelopment Law (California Health and Safety Code Section
33000, �t sea.�, and in particular Section 33445 thereof, the
Agency proposes to donate the above-described parcels and
buildings to the City of Palm Desert (the "City").
Section 4. The above-described parcels and buildings
are located in the territory which was added to Project Area No.
1 of the Agency by Ordinance No. 275 of the City, adopted on
November 25, 1981 (the "Added Territory"). The Added Territory
is an area which has been previously been identified in the
Redevelopment Plan as a blighted area. The area has previously
been determined to create a social and economic burden which
cannot reasonably be expected to be reversed or alleviated by
private enterprise or governmental action, or both, without
redevelopment.
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RESOLUTION NO. 337
The above-described buildings provide new, modern and
efficient office buildings to serve the residents and taxpayers
of the City, including the residents and taxpayers of the Added -�
Territory, and the other Project Areas of the Agency as well.
The construction of the buildings on previously vacant,
underutilized land assists in the revitalization of the Added
Territory, encourages private sector investment in the Added
Territory, and creates job opportunities for the residents of the
Added Territory and the City, all for the benefit of the health,
safety and welfare of the residents and taxpayers of the Added
T�rritory and the City.
Section 5. The budget constraints of the City prevent
the City from reimbursing the Agency for the value of the above-
described land and the cost of the installation and construction
of the buildings thereon by any means. Traditional methods of
financing such as the issuance of general obligation bonds are
unavailable as a practical matter because of the extraordinary
majority voter approval requirements of two-thirds of the
electorate. Assessment financing and special tax financing is
not appropriate for improvements such as office buildings.
Section 6. The Agency hereby finds and determines that
based upon the foregoing and other information presented to the
Agency: (i) the above-described buildings are of benefit to the
Added Territory and to the immediate neighborhood in which the
project is located; (ii) the payment of funds tor the acquisition
of the land and the cost of the buildings assists in the
elimination of one or more blighting conditions inside the Added
T�rritory by assisting in the revitalization of the Added
Territory, encouraging private sector investment, and creating
job opportunities for the residents of the Added Territory and
the City; (iii) the payment of funds for the acquisition of the
land and the cost of the buildings is consistent with the
Agency's implementation plan adopted pursuant to Health and
Safety Code Section 33490; and (iv) no other reasonable means of
financing the acquisition of the land and the buildings are
available to the City.
Section 7. Following notice duly given, the City
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RESOLUTION NO. 337
Council and the Agency have held a public hearing pursuant to
Health and Safety Code Sectiion 33679 on the payment by the Agency
— for all or a part of the value of the above-described land and
buildings.
�ection 8. The Agency hereby approves payment by the
Agency for all or a part of the value of the above-described land
and the cost of the installation and construction of the
buildings thereon and hereby approves the transfer by the Agency
to the City of such land and buildings.
Section 9. The Chairman of the Agency is hereby
authorized to execute any instruments reasonably necessary to
cause such transfer to occur.
PASSED, APPROVED and ADOPTED this 13th day of February,
1997.
AYES: BENSON, CRITES, SNYDER, SPIEGEL AND KELLY
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE `
Ric ard S. Kelly, Chairman
Attest:
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�`� \��,� s -�w � - �v f� .-L•t_ti .�� L
- �� Sheila �R� Gilligan, Secretary �
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