HomeMy WebLinkAbout5211_CCv0001.pdf RESOLUTION NO. 5211
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS
APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT AND
LEASE WITH OPTION TO PURCHASE AGREEMENT BY AND BETWEEN
THE REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS AND
KRIKORIAN PREMIERE THEATRES, INC.
WHEREAS, in order to effectuate the provisions of the Redevelopment Plan for a
redevelopment project known as the Redlands Redevelopment Project Area(the "Project Area"),for
the development of certain real property(the "Properties"), the Redevelopment Agency of the City
of Redlands (the "Agency") has received a proposal from Krikorian Premiere Theatres, Inc. (the
"Redeveloper") pursuant to which the Redeveloper proposes to acquire certain Properties consisting
of approximately four(4) acres from the Agency and cause the development thereon of a twelve to
fourteen screen theatre complex and associated parking improvements (the "Project"); and
WHEREAS, the City Council of the City of Redlands (this "City Council") at this time
deems it desirable to approve the disposition of the Properties to the Redeveloper and to enter into
a Disposition and Development Agreement and a Lease with Option to Purchase Agreement between
the Agency and the Redeveloper,the forms of which are attached hereto as Exhibits "A" and "B,"
respectively, and which incorporated herein by this reference, set forth the terms of the Agency's
disposition of the Properties; and
WHEREAS, the Disposition and Development Agreement provides that the Agency will
assist in the Redeveloper's development of the Properties by providing certain financial and
infrastructure assistance in connection with the Redeveloper's construction of the Project, and
WHEREAS, before the Agency can proceed with the transaction, this City Council must
make certain findings and approve the Disposition and Development Agreement and the Lease with
Option to Purchase Agreement in accordance with Section 33421.1 of the Health and Safety Code;
and
WHEREAS, this City Council has reviewed and considered the transaction and has
determined that the disposition of the Properties for development as a theatre complex and related
parking is in the best interests of the citizens of Redlands,is consistent with the goals set forth in the
Redevelopment Plan for the Project Area, and the disposition has been conducted in accordance
with Sections 33431 and 33433 of the Health and Safety Code; and
WHEREAS,pursuant to the California Environmental Quality Act (Public Resources Code
Section 21000 et se this City Council has caused the preparation of, and adopted, a Mitigated
Negative Declaration in connection with its consideration of the Disposition and Development
Agreement, the Lease with Option to Purchase Agreement and the Project, a copy of which is
attached hereto as Exhibit "C" and incorporated herein by this reference; and
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WHEREAS, this City Council has received and considered testimony presented at a duly
noticed public hearing;
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE
CITY COUNCIL OF THE CITY OF REDLANDS AS FOLLOWS:
Section 1. The City Council hereby approves the Disposition and Development
Agreement and the Lease with Option to Purchase Agreement by and between the Redevelopment
Agency of the City of Redlands and the Redeveloper, which Agreements shall be in substantially
the same form as those attached to this Resolution, with such non-material changes and revisions,
if any, as shall be recommended by Agency Counsel and approved by the Executive Director of the
Agency.
Section 2. The City Council has reviewed and considered the Disposition and
Development Agreement and the Lease with Option to Purchase Agreement and has determined that
the development of the Properties in accordance with the Agreements is in the best interests of the
citizens of Redlands,is consistent with the goals set forth in the Redevelopment Plan for the Project
Area, and the consideration received for the disposition of the Properties is not less than the fair
reuse value of the Properties at the use and with the covenants and conditions and development costs
authorized by the sale and lease.
Section 3. The City Council finds that providing certain infrastructure improvements for
the Properties with the use of tax increment monies, to the Redeveloper is necessary to effectuate
the purposes of the redevelopment plan.
Section 4. The City Council has determined development of the Properties will assist
in the elimination of blight and is consistent with the Agency's implementation pian for its
Redevelopment Project Area.
Section 5. This Resolution shall take effect upon adoption.
04 aAoeltw�C
avor of the City of Redlands
ATTEST:
Cit Clerk
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I,Lorrie Poyzer,City Clerk of the City of Redlands,hereby certify that the foregoing Resolution was
duly adopted by the City Council at a regular meeting thereof, held on the 5th day of September,
1995, by the following vote:
AYES: Councilmembers Foster, Cunningham, Gilbreath, Gil
NOES: None
ABSTAIN: Mayor Larson
ABSENT: None
City C rk
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