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HomeMy WebLinkAboutSA-RDA 073RESOLUTION NO. SA-RDA 073 A RESOLUTION OF THE BOARD OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY REJECTION OF A BID FOR THE 128 ACRE PARCEL OF VACANT LAND, SOUTH OF GERALD FORD DRIVE, NORTH OF FRANK SINATRA DRIVE AND WEST OF PORTOLA AVENUE (APN(S) 694-300-001; 694-300- 002; 694-300-005; 694-300-014; 694-300-015; 694-310-002; 694-310-003; AND 694-310- 006) PURSUANT TO THE LONG RANGE PROPERTY MANAGEMENT PLAN AND TAKING RELATED ACTIONS RECITALS: A. Pursuant to AB X1 26 (enacted in June 2011) and the California Supreme Court's decision in California Redevelopment Association, et al. v. Ana Matosantos, et al., 53 Cal. 4th 231 (2011), the former Palm Desert Redevelopment Agency (the "Former Agency") was dissolved as of February 1, 2012, the Successor Agency to the Palm Desert Redevelopment Agency (the "Successor Agency"), as the successor entity to the Former Agency, was constituted, and an board of the Successor Agency (the "Board") was established. B. AB X1 26 added Part 1.8 (commencing with Section 34161) and Part 1.85 (commencing with Section 34170) to Division 24 of the California Health and Safety Code ("HSC") (such Parts 1.8 and 1.85, including amendments and supplements enacted after AB X1 26, being referred to herein 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 HSC Section 34175(b), 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 "Original LRPMP") which addresses the disposition of the real properties owned by the Successor Agency. F. On June 2, 2014, the State Departmeni of Finance (the "DOF") approved the Original LRPMP. G. On September 21, 2015, the Oversight Board approved an amendment to Original LRPMP (the "LRPMP AmendmenY'), H. On December 9, 2015, the DOF approved the LRPMP, as amPnded. I. 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 proper�y assets of the Former Agency. J. In April 2018, the Successor Agency released a Notice Inviting Bids regarding the 128 Acre Parcel of Vacant Land, South of Gerald Ford Drive, North of Frank Sinatra Drive and West of Portola Avenue, �! Resolution No. SA-RDA 073 K. The materials made available to the potential bidders included the Development Summary and the current Preliminary Title Report. ^� L. Per the result of the sealed bid opened on May 14, 2018, the highest bid received was in thE..... amount of $3,333,333.33 (the "Rejected Bid"), received from Lewis Land Developers, LLC, (the "Rejected Bidders"). M. An appraisal of the property was ordered from Capital Realty Analysts and received on May 16, 2018. The report places the current appraised value of the property at $7,195,000. N. The Board is adopting this Resolution to reject the bid for the sale of the 128 Acre Parcel of Vacant Land, South of Gerald Ford Drive, North of Frank Sinatra Drive and West of Portola Avenue pursuant to the LRPMP. NOW, THEREFORE, THE 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 Board hereby directs the rejection of the sole bid received for the 128 Acre Parcel of Vacant Land, South of Gerald Ford Drive, North of Frank Sinatra Drive and West of Portola Avenue from the Rejected Bidders. Section 3. The members of this Board and the staff of the Successor Agency are hereby�. authorized, jointly and severally, to do all things which they may deem necessary or proper to effectuate the purposes of this Resolution. .... APPROVED and ADOPTED this 14thday of June , 2018. AYES: HARNIK, KELLY, NESTANDE, WEBER, and JONATHAN NOES: NONE ABSENT: NONE ABSTAIN: NONE SABBY JON�THAN, CHAIR ATTEST: RA HELLE D. KL SE , SE�RETARY FOR THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY .-. . �.