Res 87-151RESOLUTION NO. 87-151
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF POWAY, CALIFORNIA,
APPROVING THE SALE OF CERTAIN REAL PROPERTY
PURSUANT TO A DISPOSITION AND DEVELOPMENT AGREEMENT
BETWEEN THE POWAY REDEVELOPMENT AGENCY
AND CHRYSLER REALTY CORPORATION
WHEREAS, the Poway Redevelopment Agency is authorized to conduct redevelop-
ment activities within the Paguay Project Area ("Project Area"), which activi-
ties include the acquisition and conveyance of real property for private
development; and
WHEREAS, the Agency desires to enter into a Disposition and Development
Agreement (the "DDA") with Chrysler Realty Corporation ("Developer") substan-
tially in the form approved hereby and on file in the City Clerk's Office, which
DDA provides 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 automobile dealership; 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 summary setting forth the matters
required by California Health and Safety Code Section 33433 have been 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 finds and determines, based upon the testimony
and information presented during the public hearing 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 that 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 pursuant to the terms
and provisions of the DDA and hereby approves all of the terms and provisions of
the DDA.
PASSED, ADOPTED AND APPROVED, by the City Council of the City of Poway,
California, at a regular meeting thereof this 17th day of November, 1987.
Bruce J. Ta7y,k. Mayor O/
ATTEST:
STATE OF CALIFORNIA )
) SS.
COUNTY OF SAN DIEGO )
I, Marjorie K. Wahlsten, City Clerk of the City of Poway, do hereby certify
under penalty of perjury that the foregoing Resolution, No. @?-151 , was duly
adopted by the City Council at a meeting of said City Council held on the 1?th
day of November , 1987, and that it was so adopted by the following vote:
AYES: BRANNON, KRUSE, TARZY
NOES: NONE
ABSTAIN: NONE
ABSENT: EMERY , HIGGINSON
Marjorie,'~. Wahl
City of iPoWay sten, City Clerk