HomeMy WebLinkAboutRES CC 2015 3406 2015 0617 RESOLUTION NO. 2015-3406
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, APPROVING THE SALE OF
PROPERTY OWNED BY THE CITY OF MOORPARK
ACTING AS THE SUCCESSOR HOUSING AGENCY TO
THE REDEVELOPMENT AGENCY OF THE CITY OF
MOORPARK TO THE AREA HOUSING AUTHORITY OF
THE COUNTY OF VENTURA; FINDING SALE
CONSISTENT WITH CALIFORNIA HEALTH AND SAFETY
CODE SECTION 33433; APPROVING THE DISPOSITION
AND DEVELOPMENT AGREEMENT; AND PROVIDING
LOAN COMMITMENTS TO THE AREA HOUSING
AUTHORITY FOR THE PURCHASE OF THE PROPERTY
AND PERMANENT FINANCING
WHEREAS, the City Council of the City of Moorpark ("City"), adopted the
Redevelopment Plan for the Moorpark Redevelopment Project on July 5, 1989, by
Ordinance No. 110, in accordance with the California Health and Safety Code Section
33000 et seq.; and
WHEREAS, the Moorpark Redevelopment Agency ("Agency") purchased the
properties located at 798 Moorpark Avenue, 782 Moorpark Avenue, 81 Charles Street,
and 765 Walnut Street ("Property") with tax increment funds; and
WHEREAS, the City desires to sell the Property for the development of 24 very
low and low income affordable units ("Project") to the Area Housing Authority of the
County of Ventura ("Developer"); and
WHEREAS, the City has negotiated a Disposition and Development Agreement
with the Developer pertaining to the sale and development of the Property; and
WHEREAS, California Health and Safety Code Section 33433 ("Section 33433")
requires that the City Council approve, by resolution and after a public hearing, any sale
or lease of property which was acquired with tax increment funds; and
WHEREAS, Section 33433 requires that the City Council include the following
findings in the resolution approving the sale or lease of property purchased with tax
increment:
1 . The sale of property will assist in the elimination of blight
in the Moorpark Redevelopment Project Area.
2. The sale of property is consistent with the goals and
objectives in the expired 2010-2014 Implementation Plan
for the Moorpark Redevelopment Project pursuant to
Section 33490 of the California Health and Safety Code.
Resolution No. 2015-3406
Page 2
3. The property is being sold at the fair market price at the
highest and best use in accordance with the Moorpark
Redevelopment Plan; and
WHEREAS, notice was published in the Ventura Star once a week for two weeks
prior to the public hearing; and
WHEREAS, on June 17, 2015, the City Council conducted a public hearing to
take public comment on the proposed sale of Agency owned property; and
WHEREAS, the proposed sale will assist with the elimination of blight in the
Moorpark Redevelopment Project Area; and
WHEREAS, the proposed sale is consistent with the expired 2010-2015
Implementation Plan for the Moorpark Redevelopment Project pursuant to Section
33490 of the California Health and Safety Code; and
WHEREAS, the Property has been appraised and the fair market price, at its
highest and best use in accordance with the Moorpark Redevelopment Plan, has been
established; and
WHEREAS, on June 17, 2015, the City Council reviewed the proposed sale and
determined that it is consistent with Section 33433; and
WHEREAS, the City desires to make a Purchase Loan to the Developer to be
utilized for the purchase of the Property. Payment on the Purchase Loan will be made
from residual receipts generated by the Project; and
WHEREAS, the City desires to make a Permanent Loan to the Developer to be
utilized to pay off the construction financing and serve as permanent financing for the
Project. Payment of the Permanent Loan will be made from residual receipts generated
by the Project.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council approves the sale of Property to Developer.
SECTION 2. The City Council determines the proposed sale is consistent with
Section 33433 and the following findings are made:
1. The sale of the Property will assist in the elimination of blight
in the Moorpark Redevelopment Project Area.
Resolution No. 2015-3406
Page 3
2. The sale of Property is consistent with the goals and
objectives in the 2010-2015 expired Implementation Plan for
the Moorpark Redevelopment Project, pursuant to Section
33490 of the Health and Safety Code.
3. The Property is being sold at the fair market price at the
highest and best use in accordance with the Moorpark
Redevelopment Plan.
SECTION 3. The City Council approves the Disposition and Development
Agreement with the Developer pertaining to the sale and development of the
Property.
SECTION 4. The City Council approves a Purchase Loan to the Developer to be
utilized to purchase the Property in the amount of $1,830,000.00. Payment of the
Purchase Loan will be made from residual receipts generated by the Project.
SECTION 5. The City Council approves a Permanent Loan to the Developer to
be utilized to pay off the construction financing and serve as permanent financing for the
Project in the amount of $2,000,000.00. Payment of the Permanent Loan will be made
from residual receipts generated by the Project.
SECTION 6. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 17th day of June, 2015.
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J. ice S. Pa in, Mayor
ATTEST:
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Maureen Benson, City Clerk rwa
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Resolution No. 2015-3406
Page 4
STATE OF CALIFORNIA
COUNTY OF VENTURA ) ss.
CITY OF MOORPARK
I, Maureen Benson, City Clerk of the City of Moorpark, California, do hereby
certify under penalty of perjury that the foregoing Resolution No. 2015-3406 was
adopted by the City Council of the City of Moorpark at a regular meeting held on the
17th day of June, 2015, and that the same was adopted by the following vote:
AYES: Councilmembers Mikos, Millhouse, Pollock, Van Dam, and Mayor Parvin
NOES: None
ABSENT: None
ABSTAIN: None
WITNESS my hand and the official seal of said City this 1st day of July, 2015.
Maureen Benson, City Clerk
(seal)
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