HomeMy WebLinkAbout2010 CC RESO 2010-15 CDC Palm Plaza Associates Purchase and Sale Agreement - 1640 E. Plaza Blvd.RESOLUTION NO. 2010 — 15
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF NATIONAL CITY AUTHORIZING THE CHAIRMAN
TO EXECUTE A PURCHASE AND SALE AGREEMENT FOR CDC OWNED
OF $1,823,000 WITH PALM PLAZA ASSOCIATES,
PROPERTY LOCATED AT 1640 EAST PLAZA BOULEVARD FOR
THE DEVELOPMENT OF A 72-UNIT MULTI -FAMILY HOUSING PROJECT
WHEREAS, the Community Development Commission of the City of National
City ("CDC") owns 1.066 acres of land at 1640 East Plaza Boulevard within the National City
Redevelopment Project area; and
WHEREAS, Palm Plaza Associates, LLC, owns 1.144 acres of land at 1300
Palm Avenue contiguous with the CDC land; and
WHEREAS, Palm Plaza Associates, LLC, desires to acquire the CDC land to
develop a multi -family housing project consisting of 72 market rate condominiums; and
WHEREAS,
the
l proposed
sale
eo the
e CDC
t land
has been analyzed as required
under Section 33433 0the
CaWHEREAS, the City Council has approved the Summary Report as required by
Health and Safety Code Section 33433; and
WHEREAS, the CDC desires to sell its property to Palm Plaza Associates, LLC,
so that redevelopment with the described project can occur.
NOW, THEREFORE, BE IT RESOLVED that the Community Development
airman
Commission o Sale At reement in t eltamountt of $1,823,000 with to
the Ciy of National Cy hereby authorizes the Palm Plaza Associates, LLC,
execute the
Purchaseeand9 located at 1640
for the sale of the CDC -owned 1.066 acres of land Said Agreement East son file n theaoffi e of
development of a 72-unit multi -family housing project.
the City Clerk.
PASSED and ADOPTED this 19th day of Januar , =1 10.
on Morrison, airma
ATTEST:
on, Secretary
APPROVED AS TO FORM:
George H. iser, III
Legal Counsel
Passed and adopted by the Community Development Commission of the City of
National City, California, on January 19, 2010, by the following vote, to -wit:
Ayes: Commissioners Morrison, Parra, Sotelo-Solis, Van Deventer.
Nays: None.
Absent: None.
Abstain: Commissioner Zarate.
AUTHENTICATED BY: RON MORRISON
Chairman, Community Development Commission
Secr unity Development Commission
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2010-15 of the Community Development Commission of the City of
National City, California, passed and adopted on January 19, 2010.
Secretary, Community Development Commission
By:
Deputy