HomeMy WebLinkAbout242 RDA_CCv0001.pdf RESOLUTION NO. 242
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY 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,the Board of Directors of the Redevelopment Agency of the City of Redlands
(the "Agency")adopted on September 26, 1972, a redevelopment plan("the Redevelopment Plan")
for the Redlands Redevelopment Project Area(the "Project Area"); and
WHEREAS, the Agency deems it desirable to promote certain redevelopment activities
within the Project Area and has received a proposal from Krikorian Premiere Theatres, Inc. (the
"Redeveloper") pursuant to which the Redeveloper proposes to acquire possession of certain
properties consisting of approximately four(4) acres from the Agency (the "Properties") and cause
the development thereon of a twelve to fourteen screen theatre complex and related parking
improvements(the "Project"); and
WHEREAS, the Agency at this time deems it desirable to approve the disposition of the
Properties to the Redeveloper and to enter into that certain Disposition and Development Agreement
and Lease with Option to Purchase Agreement by and between the Agency and the Redeveloper,the
forms of which are attached hereto as Exhibits "A" and "B," respectively, and incorporated herein
by this reference, which 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 a portion of the Properties by providing certain financial
and infrastructure assistance with tax increment monies in connection with Developer's construction
of its Project, and
WHEREAS,pursuant to the California Environmental Quality Act(Public Resources Code
Section 21000, t e the Agency has reviewed and considered the Mitigated Negative Declaration
adopted by the City Council of the City of Redlands for the Project, a copy of which is attached
hereto in Exhibit "C" and incorporated herein by this reference; and
WHEREAS, the Agency has duly noticed and held a public hearing to consider the
development of the Project pursuant to the terms of the Disposition and Development Agreement,
the Lease with Option to Purchase Agreement and the Mitigated Negative Declaration;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS AS FOLLOWS:
Section 1. The foregoing recitals are true and correct and are incorporated herein by this
reference.
Section 2. The Agency, having held a duly noticed public hearing in accordance with
Health and Safety Code Sections 33431 and 33433, and having considered all testimony presented
in connection therewith, hereby finds and determines that the disposition of the Properties to the
Redeveloper is of benefit to the Agency and will promote redevelopment within the Project Area of
the Agency.
Section 3. The Agency hereby approves the forms of the Disposition and Development
Agreement and the Lease with Option to Purchase Agreement, copies of which are attached hereto
as Exhibits "A"and "B," respectively, and incorporated herein by this reference.
Section 4. The Agency hereby approves the lease and sale of the Properties to the
Redeveloper in accordance with the terms of the Disposition and Development Agreement and the
Lease with Option to Purchase Agreement.
Section 5. The Agency hereby authorizes the Chairperson of the Agency, and Secretary,
to execute a Disposition and Development Agreement and Lease with Option to Purchase Agreement
in substantially the forms of Exhibits "A" and "B," on behalf of the Agency with any such changes
as may be approved by the Executive Director of the Agency and Agency Counsel.
Section 6. This Resolution shall be effective immediately upon its adoption.
ADOPTED, SIGNED AND APPROVED this 5th day of September, 1995.
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Idnov
.IMP,
Chair, Redevelopment Agency of the
City of Redlands
Attest:
Se-crdary
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