Res 87-033RESOLUTION NO. 87-033
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF POWAY APPROVING THE PURCHASE BY
THE POWAY REDEVELOPMENT AGENCY OF REAL
PROPERTY IN THE PAGUAY PROJECT AREA FROM
THE CITY OF POWAY
WHEREAS, the Poway Redevelopment Agency (hereinafter
referred to as the "Agency") under the provision of the
California Community Redevelopment Law, is engaged in activities
necessary for the execution of the Redevelopment Plan for the
Paguay Project Area (hereinafter referred to as the "Project
Area"); and
WHEREAS, the City is authorized to provide financial and
other assistance to the Agency to promote the redevelopment of
the Project Area; and
WHEREAS, in order to effectuate the provisions of that
Redevelopment Plan, the City proposes to sell and the Agency pro-
poses to acquire certain property (the "Property") within the
Project Area (hereinafter referred to as the "Site"), generally
described as in Exhibit A to the Agreement attached hereto and
incorporated herein; and
NOW, THEREFORE, the City Council of the City of Poway
does hereby find, determine, order and resolve as follows:
Section 1. The sale of the Property pursuant to the
Agreement is in the best interests of the City and will promote
the public health, safety and welfare.
Section 2. The sale of the Property by the City to the
Agency pursuant to the Agreement is hereby approved. The Mayor
is authorized to execute the Agreement on behalf of the City and
to execute all deeds and other documents necessary and
appropriate to effectuate the conveyance of the Property pursuant
to the Agreement.
PASSED, APPROVED and ADOPTED this 24th day of
March, 1987.
ATTEST:
City Clerk
AGREEMENT FOR THE ACQUISITION OF PROPERTY RELATIVE
TO THE PAGUAY PROJECT AREA
THIS AGREEMENT is entered into as of this 24th day of
March, 1987, by and between the CITY OF P0WAY (the "City") and
the POWAY REDEVELOPMENT AGENCY (the "Agency").
Recitals
A. The City is the fee owner of that certain real property
which is described in Exhibit A, hereto (the "Property").
B. The Property is situated within the Paguay Project Area
(the "Project Area"), as established by Ordinance No. 117 adopted
December 13, 1983.
C. The Agency and the City desire to facilitate the redeve-
lopment of the Property consistent with the Redevelopment Plan
for the Paguay Redevelopment Plan (the "Redevelopment Plan").
D. The Agency is, pursuant to the Redevelopment Plan
authorized to acquire real property situated within the Project
Area
E. The Agency is engaged in systematic planning and imple-
mentation of the redevelopment of the Project Area.
F. Based upon the foregoing facts and circumstances, the
parties agree that the redevelopment of the Property will best be
accomplished if title is held by the Agency.
Agreements
THE AGENCY AND THE CITY AGREE AS FOLLOWS:
1. The City agrees to convey to the Agency and the Agency
agrees to receive conveyance of the Property on or before [insert
date]. The Agency shall, in consideration of such conveyance, be
obligated to pay to the City the amount of Three Million Two
Hundred Thousand Dollars ($3,200,000), the "Purchase Price", plus
interest accruing at an interest rate equal to the annual average
interest accrued on investment of the City General Fund as calcu-
lated on January 1st of each year. This rate is not to exceed
lesser of (i) twelve percent (12%) per annum or (ii) the maximum
interest rate that may lawfully by paid by a redevelopment agen-
cy; provided that the City agrees and acknowledges that such
Purchase Price shall be paid only from tax allocation revenues
generated within the Project Area and received by the Agency.
The Agency shall have no obligation to make payment from any
other revenues.
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2. The obligations of the Agency pursuant to Section 1 of
this Agreement shall constitute indebtedness and a pledging of
the tax allocations from the Project Area to repay such indebted-
ness within the meaning of Sections 33670 and 33675 of the
California Health and Safety Code; provided, however, that such
pledge of tax allocations shall always be subordinate and subject
to Section 33334.2 of the Health and Safety Code and to the right
of the Agency to pledge or commit tax allocations from the
Project Area to repay bonds or other indebtedness incurred by the
Agency in carrying out the Project. The Agency agrees to file
statements of indebtedness setting forth such obligation until
such time as the Purchase Price (together with accrued interest)
has been paid in full.
3. The Agreement shall be effective as of the date executed
by each of the Agency and the City.
Dated:
ATTEST:
City'~ Clerk
CITY OF POWAY
Dated:
ATTEST:
Secretary
POWAY REDEVELOPMENT AGENCY
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EXHIBIT A
THAT PORTION OF SECTIONS 2 AND 11, TOWNSHIP 14 SOUTH, RANGE 2 W-EST,
SAN BERNARDINO MERIDIAN, IN THE CITY OF POWAY, COUNTy OF SAN DIEGO,
STATE OF CALIFORNIA, ACCORDING TO UNITED STATES GOVERNMENT SURVEy,
APPROVED SEPTEMBER 11, 1879, ALSO BEING A PORTION OF PARCEL 1 AS
DESCRIBED IN DEED TO THE COUNTY OF SAN DIEGO RECORDED OCTOBER 31,
1980 AT FILE/PAGE NO. 80-365974, OFFICIAL RECORDS, DESCRIBED AS
FOLLOWS:
BEGINNING AT THE INTERSECTION OF THE CENTERLINE OF POMERADO ROAD
WITH THE SOUTH LINE OF SAID SECTION 2, AS SHOWN ON RECORD OF SURVEY
MAP NO. 6563, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID
COUNTY ON JULY 21, 1965, SAID POINT BEARS SOUTH 86-38-10 EAST,
1294.08 FEET (RECORD OF SURVEY NO. 6563 = SOUTH 86-37-45 EAST,
1294.88 FEET) FROM THE SOUTHWEST CORNER OF SAID SECTION 2; THENCE
ALONG THE SOUTH LINE OF SAID SECTION 2 SOUTH 86-38-10 EAST, 48.72
FEET (DEED = SOUTH 86-37-45 EAST, 49.05 FEET) TO A LINE THAT IS
PARALLEL WITH AND 33.00 FEET EASTERLY, MEASURED AT RIGHT ANGLES FROM
THE CENTERLINE OF ROAD SURVEY NO. 1859-2, ON FILE IN THE OFFICE OF
THE COUNTY ENGINEER; THENCE LEAVING SAID SOUTHLINE ALONG SAID
PARALLEL LINE NORTH 1-05-35 EAST, 523.24 FEET (DEED = NORTH 1-05-02
EAST, 523.80 FEET); THENCE LEAVING SAID PARALLEL LINE SOUTH 88-54-25_
EAST (DEED = SOUTH 88-54-58 EAST), 185.40 FEET: THENCE SOUTH ....
74-19-43 EAST (DEED = SOUTH 74-19-10 EAST) 118.40 FEET; THENCE NORTH
51-43-07 EAST (DEED = NORTH 51-43-40 EAST), 138.84 FEET TO AN ANGLE
POINT IN THE BOUNDARY OF COUNTY OF SAN DIEGO TRACT NO. 4107, AS
SHOWN ON MAP THEREOF NO. 10258. FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY ON NOVEMBER 6, 1981; THENCE ALONG THE
BOUNDARY OF SAID MAP NO. 10258, SOUTH 46-10-53 EAST, 69.30 FEET AND
CONTINUING ALONG SAID BOUNDARY SOUTH 74-49-13 EAST, 72.50 FEET AND
NORTH 83-41-27 EAST, 173.00 FEET AND NORTH 12-13-51 EAST, 198.52
FEET AND NORTH 53-16-31 EAST, 54.58 FEET TO THE SOUTHWESTERLY
.SIDELINE OF TWIN PEAKS ROAD (FORMERLY CAMINO DEL NORTE) (126.00 FEET
WIDE); THENCE LEAVING SAID TRACT BOUNDARY ALONG SAID SOUTHWESTERLY
SIDELINE SOUTH 36-43-29 EAST, 446.25 FEET TO THE BEGINNING OF A
TANGENT 1863.00 FOOT RADIUS CURVE CONCAVE NORTHEASTERLY; THENCE
SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF
0043'31" A DISTANCE OF 23.58 FEET TO A POINT IN THE ARC OF SAID
CURVE TO WHICH A RADIAL LINE BEARS SOUTH 52o33,00" WEST SAID POINT
BEING AN ANGLE POINT IN THE BOUNDARY OF THAT CERTAIN PARCEL OF LAND
CONVEYED TO THE COUNTY.OF SAN DIEGO BY DEED RECORDED OCTOBER 31,
1980 AS FILE/PAGE NO. 80-365974 OF OFFICIAL RECORDS; THENCE LEAV~NG
SAID CURVE ALONG THE BOUNDARY OF SAID COUNTY LAND AND THE
PROLONGATION OF SAID RADIAL LINE SOUTH 52033'00'' WEST, 5.00 FEET;
THENCE CONTINUING ALONG THE BOUNDARY-OF SAID COUNTY LAND SOUTH ·
82°08'~29" WEST, 183.52 FEET; THENCE ~ONTINUING ALONG THE BOUNDARY OF
SAID COUNTY LAND SOUTH 30o40'18- WEST, 243.02 FEET; THENCE CONTINUING
ALONG THE BOUNDARY OF SAID COUNTY LAND SOUTH 13o38'01,, WEST, 105.99
FEET: THENCE CONTINUING ALONG THE BOUNDARY OF SAID COUNTY LAND S~UTH
2°12'20'' WEST, 44.03 FEET; THENCE LEAVING THE BOUNDARY OF SAID
COUNTY LAND SOUTH 51o29'53" WEST 3.12 FEET TO THE BEGINNING OF A
TANGENT 1057.00 FOOT RADIUS CURVE CONCAVE NORTHWESTERLY; THENCE
SOUTHWESTERLY AND WESTERLY ALONG THE ARC OF SAID CURVE THROUGH A
CENTRAL ANGLE OF 37o49'03'' A DISTANCE OF 697.66 FEET; THENCE TANGENT
TO SAID CURVE SOUTH 89o18'56- WEST, 56.27 FEET TO THE BEGINNING OF A
TANGENT 25.00 FOOT RADIUS CURVE CONCAVE SOUTHEASTERLY; THENCE
COUNTERCLOCKWISE ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE
OF 88o00'00- A DISTANCE OF 38.40 FEET, TO A LINE THAT IS PARALLEL . -
WITH AND 51.00 FEET EASTERLY, MEASURED AT RIGHT ANGLES FROM THE
CENTERLINE OF THE ABOVEMENTIONED COUNTY OF SAN DIEGO ROAD SURVEY NO.
1859-2; THENCE PARALLEL WITH SAID CENTERLINE SOUTH lO18'56- WEST
(ROAD SURVEY NO. 1859-2 = SOUTH lO18'08" WEST), 500.00"FEET; THENCE
AT RIGHT ANGLES NORTH 88o41,04# WEST, 60.40 FEET TO THE
ABOVEMENTIONED CENTERLINE OF POMERADO ROAD AS SHOWN ON RECORD OF
SURVEY NO. 6563; THENCE ALONG SAID CENTERLINE NORTH 0o50'52" EAST
(RECORD OF SURVEY NO. 6563 = NORTH 0050'40" EAST), 769.94 FEET TO
THE POINT OF BEGINNING.
THE COUNTY OF SAN DIEGO HEREBY FURTHER GRANTS THE PRIVILEGE AND
RIGHT TO EXTEND DRAINAGE STRUCTURES AND EXCAVATION AND EMBANKMENT
SLOPES BEYOND THE LIMITS OF THE ASOVE DESCRIBED PROPERTY, W~ERE
REQUIRED, FOR THE CONSTRUCTION AND MAINTENANCE OF A CITY HIGHWAY.
THE EXTENSION OF SAID DRAINAGE STRUCTURES AND EMBANKMENT SLOPES
SHALL NOT CAUSE THE OWNERSHIP OF THAT CERTAIN PARCEL OF LAND
DESCRIBED IN DEED RECORDED OCTOBER 31, 1980 AT FILE/PAGE NO.
80-365974, OFFICIAL RECORDS TO REVERT TO THE COUNTY OF SAN DIEGO.