Title
A. RESOLUTION NO. 2016-003 OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA APPROVING A PURCHASE AND SALE AGREEMENT WITH SILVERGATE CHURCH CV, LLC, TO SELL ASSESSOR PARCEL NOS. 568-071-21 AND 568-071-22 FOR $455,000
B. RESOLUTION NO. 2016-004 OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA APPROVING A PURCHASE AND SALE AGREEMENT WITH TIERRA DEL SOL INVESTMENTS TO SELL ASSESSOR PARCEL NO. 568-071-01 FOR $400,000
Body
RECOMMENDED ACTION
Recommended Action
Agency adopt the resolutions.
Body
SUMMARY
Assembly Bills X1 26 and 1484 and Senate Bill 107 ("Dissolution Laws") include many requirements for the dissolution of redevelopment agency activities, including the disposition of real property, other than housing assets. The Dissolution Laws generally require the Successor Agency to dispose of assets and property of the former redevelopment agency for either 1) limited public uses or 2) disposition into the private market. Disposition is to occur expeditiously and with a view toward maximizing value, with the disposition proceeds distributed to the affected taxing entities. The former redevelopment agency-owned property referred to in Resolution A ("Property A") is recommended to be sold to Silvergate Church CV, LLC for the appraised value of $455,000 as indicated by an MAI appraisal prepared in August 28, 2015. The property referred to in Resolution B ("Property B") is recommended to be sold to Tierra del Sol Investments, for the appraised value of $400,000 as indicated by an MAI appraisal prepared November 24, 2015. SB 107 requires approval of the sale by the Oversight Board (which occurred on March 14, 2016) and the Successor Agency to the former Redevelopment Agency.
ENVIRONMENTAL REVIEW
Environmental Notice
Environmental Notice
Approval of the Purchase and Sale Agreement by the Successor Agency is not a Project within the meaning of section 15378 of the CEQA Guidelin...
Click here for full text