Reso 18-002RESOLUTION NO. OSB 18-002
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE POWAY REDEVELOPMENT
AGENCY APPROVING A PURCHASE AND SALE AGREEMENT
BETWEEN THE SUCCESSOR AGENCY TO THE POWAY
REDEVELOPMENT AGENCY AND THE CITY OF POWAY FOR
CERTAIN REAL PROPERTY DESCRIBED AS ASSESSOR
PARCEL NUMBERS 317-472-12, 317-472-18, 317-472-23, 317-
472-24, AND 317-472-25 PURSUANT TO THE LONG-RANGE
PROPERTY MANAGEMENT PLAN AND RELATED ACTIONS
WHEREAS, Assembly Bill 26X1, as amended by AB 1484, AB 1585, SB 341, SB 107,
and other statutes, together, being referenced below as the "Dissolution Act" dissolved
redevelopment agencies and required successor agencies to wind down redevelopment
agencies' affairs;
WHEREAS, pursuant to the Dissolution Act, all real property owned by the dissolved
Poway Redevelopment Agency has been transferred to the control of the Successor Agency to
the Poway Redevelopment Agency (the "Successor Agency");
WHEREAS, Health and Safety Code section 34191.5(b) requires the Successor Agency
to prepare a long-range property management plan (the "LRPMP") that addresses the disposition
and use of the real properties of the former Poway Redevelopment Agency within six months of
receiving a "finding of completion;”
WHEREAS, Health and Safety Code section 34191.5(b) also requires the Successor
Agency to submit the LRPMP to its Oversight Board and the California Department of Finance
(the "DOF") for approval;
WHEREAS, on December 2, 2015, DOF approved the LRPMP prepared by the Successor
Agency and approved by its Oversight Board;
WHEREAS, DOF's letter approving the LRPMP provides that "pursuant to HSC section
34191.3(a) the approved LRPMP shall govern, and supersede all other provisions relating to, the
disposition and use of all the real property assets of the former redevelopment agency;”
WHEREAS, the LRPMP provides for the sale of five (5) real property parcels located south
of Poway Road between Bowron Road and Carriage Road in the City of Poway, and shown in
the attached Exhibit A – Vicinity Map (collectively the "Properties") and provides for distribution of
the proceeds to affected taxing agencies;
WHEREAS, one of the subject parcels of the Properties located at 13033 Poway Road is
currently occupied and currently leased on a month-to-month basis to Desert Oasis Industrial
Lofts, LLC, a California limited liability company for the business Poway Stoway dated as of May
1, 2009 (the "Lease");
Resolution No. OSB 18-002
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WHEREAS, the Successor Agency desires to sell the Properties to City of Poway for a
purchase price of $5,367,000 (the "Purchase Price") based upon a Broker’s Opinion of Value
dated December 5, 2015 provided by the City’s consultant, Kosmont Realty Corporation, which
represents the undiscounted fair market value of the Properties;
WHEREAS, the Successor Agency and the Buyer prepared a proposed Purchase and
Sale Agreement which provides for the sale of the Properties to the Buyer for the Purchase Price
and which provides that the Buyer would take title to the Properties subject to the Lease;
WHEREAS, on January 9, 2018, the Successor Agency to the Poway Redevelopment
Agency adopted a resolution recommending approval to the Oversight Board of the Successor
Agency of a Purchase and Sale Agreement for the sale of certain real property to the City of
Poway pursuant to the Long-Range Property Management Plan, and related actions;
WHEREAS, the purchasing of properties by the Successor Agency is exempt from the
California Environmental Quality Act (CEQA), pursuant to section 15061(b)(3) of the CEQA
Guidelines, in that the sale of property between governmental agencies will not result in an impact
on the environment. Future actions regarding the properties will be subject to further
environmental assessment;
WHEREAS, public notice of the Oversight Board's proposed approval of the sale of the
Properties to the City was published in a newspaper of general circulation on January 11, 2018;
and
WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred.
NOW, THEREFORE, BE IT RESOLVED by the Oversight Board to the Successor
Agency of the Poway Redevelopment Agency as follows:
Section 1: The foregoing recitals are true and correct and are a substantive part of
this Resolution.
Section 2: The Oversight Board hereby approves the sale of the Properties from the
Successor Agency to the Buyer in the sum of Five-Million, Three-Hundred- Sixty-Seven Thousand
Dollars ($5,367,000) pursuant to the Purchase and Sale Agreement presented at this meeting.
Section 3: If any provision of this Resolution or the application of any such provision
to any person or circumstance is held invalid, then such invalidity shall not affect other provisions
or applications of this Resolution that can be given effect without the invalid provision or
application, and to this end the provisions of this Resolution are severable. The Oversight Board
declares that it would have adopted this Resolution irrespective of the invalidity of any particular
portion of this Resolution.
Section 4: This Resolution shall take effect upon the date of its adoption.
Resolution No. OSB 18-002
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EXHIBIT A
Vicinity Map