Res 86-003RESOLUTION NO. 86-003
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF POWAY, CALIFORNIA,
APPROVING THE SAL~. OF CRRTAIN REAL PROPERTY
PURSUA~f TO A DISPOSITION A~D DEVELOPMENT AG~":"~T
~ T~E POWAY R~DE%"~nPM~ ~
A~D R & R PARTNERS - POW-AY
WHEREAS, the Poway Redevelo~m~ent Agency is authorized to conduct redevelop-
mont activities within the Paguay Project Area ("Project Area" ), which activi-
ties include the acquisition and conveyance of real property for private
develo~ent; and
WHEREAS, the Agency desires to enter into a Disposition and Development
Agreement (the "DDA") with R & R Partners-Poway ("Developer") substantially in
the form approved hereby and on file in the City Clerk's Office, which DDA pro-
vides for the conveyance of certain real property located in the Project Area,
which real property is more particularly described in the DDA, from the Agency
to the Developer and the improvement of said real property by the Developer in
addition to other real property owned or to be acquired by Developer as an
integrated retail commercial project with adjacent parking facilities; and
WHEREAS, the Agency and the City Council of the City of Poway ("City
Council") have conducted a duly noticed joint public hearing regarding the DDA
in accordance with California Health and Safety Sections 33431 and 33433; and
WHEREAS, a copy of the DDA and the s~ary setting forth the matters
required by California Health and Safety Code Section 33433 have ~c~n made
available for public inspection and copying.
NOW, THEREFORE, the City Council of the City of Poway does hereby resolve as
follows:
Section 1: The City Council fiDd-~ and determines, based upon the testimony
and information presented during the public he, ring with respect to the DDA,
that the consideration for the real property to be conveyed to the Developer by
the Agency pursuant to the DDA is less than the fair market value thereof deter-
mined at the highest use permitted under the Redevelopment Plan for the Project
Area, but that such lesser consideration is necessary to effectuate the purposes
of said Redevelopment Plan.
Section 2: The City Council hereby approves the sale of the real property
referred to in the recitals hereinabove to the Developer purs, mnt to the terms
and provisions of the DDA and hereby approves all of the terms and provisions of
the DDA.
PASSED, ADOPTED A~D APPROVED, by the C~y Council of the City of Poway,
California, at a regular ~ting thereof thi~14~y o.f Janua.~ry, ~86.
Carl R. Kruse, Mayor
Marjori~ K. Wahlsten, City Clerk