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Home My WebLink About80B - JOINT PH 1300 S RITCHEYREQUEST FOR AGENCY/ COUNCIL ACTION MEETING DATE: AUGUST 6, 2007 TITLE: PUBLIC HEARING - AGREEMENT FOR SALE OF REAL PROPERTY AND ESCROW INSTRUCTIONS BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY AND MARTIN INVESTMENT COMPANY FOR REMNANT PARCEL IN THE MERGED REDEVELOPMENT PROJECT AREA ~~~~ ~- CITY MANAGER ~~p~XECU E DIRECTOR RECOMMENDED ACTION CITY COUNCIL ACTION CLERK OF COUNCIL USE ONLY: APPROVED ^ As Recommended ^ As Amended ^ Ordinance on 1st Reading ^ Ordinance on 2nd Reading ^ Implementing Resolution ^ Set Public Hearing For CONTINUED TO FILE NUMBER Adopt a resolution making certain findings with respect to the consideration to be received by the Community Redevelopment Agency pursuant to an Agreement for Sale of Real Property and Escrow Instructions between the Community Redevelopment Agency and Martin Investment Company, a California Limited Partnership, for the sale of certain real property in the Merged Redevelopment Project Area generally located in the 1300 block of S. Ritchey, and approving the sale of said real property upon the terms and conditions contained in that Agreement. COMMUNITY REDEVELOPMENT AGENCY ACTION Adopt a resolution approving an Agreement for Sale of Real Property and Escrow Instructions with Martin Investment Company, a California Limited Partnership, for property generally located in the 1300 block of S. Ritchey. DISCUSSION In the mid 1980s, the Redevelopment Agency acquired land from Santa Fe Railroad for development of the Santa Ana Auto Mall. Part of that acquisition included a remnant strip of land (rail spur) on the west side of Ritchey Avenue across from the Auto Mall, Exhibit 1. Martin Investment Company (Buyer) owns several parcels of land immediately south of the Agency owned property. In order to maximize the development 80B-1 P. H. - Agreement Real Property and Martin Investment August 6, 2007 Page 2 for Sale of Escrow Instructions - Company options, they propose to purchase the Agency owned parcel and incorporate it into their project. Martin Investment Company has received Site Plan approval and is currently in plan check for a development consisting of three new industrial buildings totaling 31,900 square feet. There is an existing 24,010 square foot industrial building that will remain on the adjacent site currently owned by the Buyer. The project will also include consolidation of the lots. The remnant parcel owned and is consistent with th parcel has been appraised The highest and best use southerly parcel. ENVIRONMENTAL COMPLIANACE by the Agency is zoned M-1 (light industrial) e proposed development. The 22,005 square foot for $350,000 by an independent fee appraiser. of the property is assemblage to the adjacent In accordance with the California Environmental Quality Act, this project is exempt from further review. Categorical Exemption ER No.2007-105 will be filed for this project. FISCAL IMPACT Proceeds from the sale of the property to the Redevelopment Agency in the amount of $350,000 will be deposited in the Merged Redevelopment Sale of Land account (account no. 570-01-5721). APPROVED AS TO FUNDS AND ACCOUNTS: Nancy T. wards /_. Francisco Gutierrez ei,,J Assistant Director Executive Director I Community Development Agency Finance and Management Services Agency SGH/VU/mlr H:\ACTIONS\2007 CC\P. H. JT CC-CRA AgreeSaleYrop-Martin Investment 8-6-07 Ml.doc 80B-2 -~ ~ MC FADDEN AVENUE 0 0 c 0 W W R N W W Q F N WIISHIRE AVENUE auTO Mq << O 9, } z = o F DAN GURNEY DR• BORCHARD AVENUE I APN 402-072-05 & 06 o Martin Investment Co. Exhibit 1 80B-3 7/23/07 LES RESOLUTION NO. 2007- A RESOLUTION OF THE CITY OF SANTA ANA APPROVING THE SALE OF AGENCY OWNED PROPERTY GENERALLY LOCATED IN THE 1300 BLOCK OF SOUTH RITCHEY AVENUE, SANTA ANA, CALIFORNIA; AND MAKING CERTAIN FINDINGS WITH RESPECT THERETO, ON BEHALF OF THE CITY BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The City Council of the City of Santa Ana hereby, finds, determines and declares as follows: A. The Community Redevelopment Agency of the City of Santa Ana (hereinafter referred to as the "Agency") purchased the property generally located in the 1300 block of South Ritchey Avenue in the 1980's from Santa Fe Railroad for development of the Santa Ana Auto Mall, located in the Merged Redevelopment Project Area. B. Part of that acquisition included a remnant strip of land on the west side of Ritchey Avenue across from the Santa Ana Auto Mall. Martin Investment Company (Buyer) owns several parcels of land adjacent to the Agency owned property. C. In order to maximize the development of the site, Buyer proposes to purchase the Agency owned parcel (the Remnant Parcel) and incorporate it into its development project. Buyer's project has received Site Plan approval and is currently in plan check for a development consisting of three new industrial buildings totaling 31,900 square feet. There is an existing 24,010 square foot industrial building that will remain on the adjacent site currently owned by Buyer. The project will also include the consolidation of the lots by the Buyer. D. The Agency proposes to sell the Remnant Parcel to the Buyer at its current appraised value, as established by an independent fee appraiser, pursuant to the terms and provisions of a Sale Agreement (hereinafter referred to as the "Agreement"). E. The City has duly considered all of the terms and conditions of the proposed sale, and believes that the proposed sale is in the best interests of the City and the health, safety, morals and welfare of its residents, and in accord with the provisions of applicable state and local laws and requirements. F. The City and Agency held a public hearing on the sale of the Remnant Parcel and the Agreement as required by Section 33433 of the Community Redevelopment Law, after having duly provided notice of such public hearing in accordance with state law. 80B-4 G. The proposed sale of the Remnant Parcel is exempt from further review and in accordance with the California Environmental Quality Act, categorical exemption ER No. 2007-105 will be filed for this project. H. The City recognizes that it has received and heard all oral and written objections to the proposed sale of the Remnant Parcel, and that all such oral and written objections are hereby overruled. I. The City hereby finds and determines that the information set forth herein is true and correct. J. The City hereby approves the sale of the Remnant Parcel to the Buyer at its current appraised value. Section 2. Pursuant to section 33433(b) of the California Health & Safety Code (Community Redevelopment Law), the City Council finds that the consideration is not less that the fair market value at the property's highest and best use in accordance with the redevelopment plan. Section 3. The Clerk of the Council shall attest to and certify the vote adopting this Resolution. 80B-5 ADOPTED this day of , 2007. Miguel A. Pulido Mayor APPROVED AS TO FORM: Joseph W. Fletcher, City Attorney By: Lisa E. Storck Assistant City Attorney AYES: Councilmembers: NOES: Councilmembers: ABSTAIN: Councilmembers: NOT PRESENT: Councilmembers: CERTIFICATION OF ATTESTATION AND ORIGINALITY I, PATRICIA E. HEALY, Clerk of Council, do hereby attest to and certify the attached Resolution No. 2007- to be the original resolution adopted by the City Council of the City of Santa Ana on Date: Clerk of Council City of Santa Ana 3 80B-6