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Home My WebLink AboutAG RPTS 2002 OCT30 RDA REG`(ESTABLISHED VAM 11L 1"r 5�°�trFOaN`a r1' OF MJ NOTICE AND CALL OF A SPECIAL MEETING OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK TO THE MEMBERS OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK: NOTICE IS HEREBY GIVEN that a Special Meeting of the Redevelopment Agency of the City of Moorpark is hereby called to be held on Wednesday, October 30, 2002, commencing at 7:30 p.m. Said meeting will convene in the Community Center located at 799 Moorpark Avenue, Moorpark, California. Said Special Meeting shall be for the purpose of considering the following: 1. CALL TO ORDER: 2. ROLL CALL: 3. PUBLIC COMMENT: 4. PRESENTATION /ACTION /DISCUSSION: A. Consider Agreement to Purchase 6479 Penn Street Unit B from the City of Moorpark. Staff Recommendation: 1) Approve agreement to purchase 6479 Penn Street, Unit B from the City of Moorpark and authorize the Executive Director to sign the agreement and related documents; 2) Authorize the Agency Secretary to accept the deed on behalf of the Agency; and 3) Authorize Agency to sell 6479 Penn Street, Unit B to a third party. (Staff: Hugh Riley) 5. ADJOURNMENT: SPECIAL MEETING AGENDA - Redevelopment Agency October 30, 2002 Page 2 Dated: October 28, 2002 Deborah S. Traffenstedt, City Clerk --------------------------------------------------------------------------------- Any member of the public may address the Agency during the Public Comments portion of the Agenda, unless it is a Public Hearing or a Presentation/ Action /Discussion item. Speakers who wish to address the Agency concerning a Public Hearing or Presentations /Action /Discussion item must do so during the Public Hearing or Presentations /Action /Discussion portion of the Agenda for that item. Speaker cards must be received by the City Clerk for Public Comments prior to the beginning of the Public Comments portion of the meeting and for Presentation /Action /Discussion items prior to the beginning of the first item of the Presentation /Action /Discussion portion of the Agenda. Speaker Cards for a Public Hearing must be received prior to the beginning of the Public Hearing. A limitation of three minutes shall be imposed upon each Public Comment and Presentation /Action /Discussion item speaker. A limitation of three to five minutes shall be imposed upon each Public Hearing item speaker. Written Statement Cards may be submitted in lieu of speaking orally for open Public Hearings and Presentation /Action /Discussion items. Copies of each item of business on the agenda are on file in the office of the City Clerk and are available for public review. Any questions concerning any agenda item may be directed to the City Clerk at (805) 517 -6223. In compliance with the Americans with Disabilities Act, if you need assistance to participate in this meeting, please contact the City Clerk's Department at (805) 517 -6223. (28 CFR 35.102 - 35.104 ADA Title II). ITEM 40 A • CITY OF MOORPARK, CALIFORNIA Redevelopment A ency Meeting AC A)w'-CylLL:i� at A V-4 tv� AGENDA REPORT ' u Rc�r -pit .� �: t0 ac ep i Liu ct MOORPARK REDEVELOPMENT A DIG �- �' ==cr "� -- L� =`x '- —5z m CL TO: The Honorable Chair and Board of Directors FROM: Hugh R. Riley, Assistant Executive Director DATE: October 25, 2002(Special Agency Meeting of October 30, 2002) SUBJECT: Consider Agreement to Purchase 6479 Penn Street Unit B from the City of Moorpark DISCUSSION: On February 27, 2002 the City Council authorized the purchase of 6479 Penn Street, Unit B with Community Development Block Grant (CDBG) Funds. On October 8, 2002 the City Council authorized the sale of the property to a third party for $250,000. In order to be in compliance with CDBG regulations as interpreted by Ventura County the City needs to sell the property to the Redevelopment Agency at the market price of $250,000 and the agency can then sell the property to the third party for the same market value. The Redevelopment Agency will assume the obligations of the City as provided in the sale agreement with the third party and pay related closing costs. RECOMNJENDATION: 1) Approve agreement to purchase from the City of Moorpark and Director to sign the agreement and 2) Authorize the Agency Secretai behalf of the Agency. 3) Authorize Agency to sell 6479 third party. Attachment: Agreement 6479 Penn Street, Unit B authorize the Executive related documents. y to accept the deed on Penn Street, Unit B to a PURCHASE AND SALE AND ASSIGNMENT AGREEMENT This Purchase and Sale and Assignment Agreement (the "Agreement ") is made as of October 30, 2002, by and between the City of Moorpark (the "City ") and the Moorpark Redevelopment Agency (the "Agency ") who agree as follows: 1. Recitals. This Agreement is made with reference to the following facts and circumstances: (a) The City is the in the County of Ventura, 6479 Penn Street, Unit description of which real "A" That real property, thereon, is referred to in owner of certain real property located State of California, commonly known as B, Moorpark, California, a legal property is attached hereto as Exhibit together. with all improvements located this Agreement as the "Property ". (b) The City is currently in escrow to sell the Property to Tony and Cheryl Palacio (the "Buyers ") pursuant to a Residential Purchase Agreement and Joint Escrow Instructions (and Receipt for Deposit), dated September 27, 2002 (the "Purchase Agreement "). (c) The Agency desires to acquire the Property and the City's rights and obligations under the Purchase Agreement from the City and thereafter to sell the Property to the Buyers pursuant to the Purchase Agreement. (c) The City is willing to sell the Property and to assign its rights and obligations under the Purchase Agreement to the Agency on and subject to the terms and conditions set forth in this Agreement. 2. Purchase and Sale; Assignment. Upon full execution of this Agreement by the parties, the City agrees to deliver to the Agency a grant deed (the "Deed ") in the form attached hereto as Exhibit "B" conveying the Property to the Agency. The City also hereby assigns all of its right, title and interest in and to the Purchase Agreement to the Agency, and the Agency hereby accepts that assignment and assumes and agrees to perform all of the City's obligations under the Purchase Agreement. Upon delivery of the Deed to the Agency, the Agency agrees to immediately deliver the Deed to the escrow holder under the Purchase Agreement with instructions that the Deed be recorded in the Official Records of Ventura County, California 3. Consideration. In consideration for conveyance and assignment, and upon full exi Agreement by the parties, the Agency agrees to the sum of Two Hundred Fifty Thousand and ($250,000), which sum the City agrees to accept for such conveyance and assignment. the foregoing �=tion of this pay to the City No /100 Dollars in full payment 4. Further Assurances. The City and the Agency agree to cooperate with one another in taking such further actions and in executing and delivering such further documents as are reasonably necessary or advisable in connection with the consummation of the transactions contemplated by this Agreement or by the Purchase Agreement. 5. General Provisions. (a) This Agreement is governed by and is to be construed in accordance with the laws of the State of California. (b) No term or provision of this Agreement can be amended, modified or waived orally or by a course of conduct, but only by an instrument in writing signed by the City and the Agency. This Agreement has been executed as of the date first set forth above. CITY OF MOORPARK Steven Kueny City Manager ATTEST: B-Z Deborah S. Traffenstedt City Clerk MOORPARK REDEVELOPMENT AGENCY Steven Kueny Executive Director ATTEST: Deborah S. Traffenstedt Agency Secretary EXHIBIT "A" Legal Description of Property Real property in the City of Moorpark, County of Ventura, State of California, described as follows: Lot 277 of Tract 2726 -3, in the City of Moorpark, County of Ventura, State of California, as per map recorded in Book 80 Pages 84 to 87 inclusive of Maps, in the office of the county recorder of said county. Except all coal, lignite, coal oil, petroleum, naphtha, asphalt, naltha, brea, natural gas, all kindred or similar minerals or mineral substances, water and other rights reserved by Simi Land and Water Company in deed recorded November 16, 1989 in Book 29 Page 314 of Deeds, and granted to Union Oil Company of California, in the instrument recorded November 26, 1965 in Book 2902 Page 450, Official Records; without, however the right to enter upon and use said land above a depth of 500 feet. APN: 514 -0- 093 -155 EXHIBIT "B" RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK 799 Moorpark Avenue Moorpark, California 93021 Attn.: Secretary Exempt Recording Per Government Code Sections 6103 and 27383 Space Above This Line For Recorder's Use GRANT DEED A. P. NO.: THE UNDERSIGNED GRANTOR DECLARES THAT THE MOORPARK REDEVELOPMENT AGENCY IS ACQUIRING TITLE AND IS EXEMPT FROM DOCUMENTARY TRANSFER TAX PURSUANT TO REVENUE 6 TAXATION CODE SECTION 11922 FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the CITY OF MOORPARK ( "Grantor "), hereby grants to the MOORPARK REDEVELOPMENT AGENCY ( "Grantee "), all that certain real property located in the City of Moorpark, County of Ventura, State of California, described in Exhibit "1" attached hereto and incorporated herein by this reference (the "Property "). IN WITNESS WHEREOF, the undersigned has executed this Grant Deed on this day of 2002, to be effective upon its recordation in the Official Records of Ventura County, California. GRANTOR: CITY OF MOORPARK By: Its: