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2009-14 RESOLUTION NO. 2009-14 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND TERRACE, CALIFORNIA APPROVING THE SALE OF CERTAIN CITY-OWNED PROPERTY TO THE COMMUNITY REDEVELOPMENT AGENCY WHEREAS, the City of Grand Terrace (hereinafter"City") is the owner of property located at 11695 Canal Street, more particularly described in Exhibit"A" attached hereto; and WHEREAS, said parcel was originally purchased by the Community Redevelopment Agency of the City of Grand Terrace(hereinafter"Agency")using its Low and Moderate Income Housing Fund in order to construct affordable housing pursuant to Health and Safetv Code Section 33334.2; and WHEREAS, the Agency has not been able to develop the property as affordable housing or sell the property to an affordable housing developer because it was not feasible to develop low and moderate income housing that did not require an unreasonable subsidy; and WHEREAS, the City purchased purchase the property for potential use as a City facility on July 24, 2007; and WHEREAS, the Agency now desires to repurchase the property for affordable housing purposes with Low and Moderate Income Housing Funds. NOW THEREFORE,THE CITY OF GRAND TERRACE DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The foregoing recitals are true and correct and are incorporated hereat as if set forth in full. Section 2. City agrees to sell the property located at 11695 Canal Street for$177,000 to the Agency, representing the fair market value of the subject property. Section 3. The purchase by the Agency in is accordance with the Redevelopment Plan adopted by the City. Section 4. This resolution shall become effective immediately upon adoption. PASSED AND ADOPTED by the City Council of the City of Grand Terrace, California at a regular meeting held on the 12th day of May, 2009 by the following vote: ATTEST: City Clerk of the City of Grand Terrace Mayor of fe City of Grand Terrace and the City Council thereof and the Ofty Council thereof Resolution No. 2009- 14 I, Brenda Mesa, City Clerk of the City of Grand Terrace, do hereby certify that the foregoing Resolution was introduced and adopted at a regular meeting of the City Council of the City of Grand Terrace held on the 12`h day of May, 2009, by the following vote: AYES: Councilmembers Cortes, Miller and Stanckiewi.tz; Mayor Pro Tem Garcia and Mayor Ferre NOES: None ABSENT: None l ABSTAIN: None Brenda Mesa City Clerk Approved as to form: John . Harpe , Cit Attorney �., EXHIBIT A Legal Description 11695 Canal Street THAT PORTION OF LOT 4 AND A PORTION OF LOT 5, BLOCK "E", RESUBDIVISION OF GRAND TERRACE TRACT AS PER PLAT RECORDED IN BOOK 1 OF RECORD OF SURVEYS, PAGE 33, RECORDS OF THE COUNTY OF SAN BERNARDINO, DESCRIBED AS FOLLOWS: COMMENCING AT A POINT 247.81 FEET NORTHERLY ALONG THE CENTERLINE OF MT. VERNON AVENUE FROM THE SOUTHERLY LINE OF LOT 4, RESUBDIVISION OF GRAND TERRACE TRACT; THENCE NORTH 89 DEGREES 48' 16"WEST ON A LINE PARALLEL TO SAID SOUTHERLY LINE OF LOT 4, 742.03 FEET TO THE TRUE POINT OF BEGINNING; THENCE ALONG THE SAME LINE EXTENDED 291.76 FEET TO THE SOUTHEASTERLY LINE OF THE RIGHT OF WAY OF THE GAGE CANAL AS SHOWN ON MAP ON FILE IN BOOK 7, OF RECORDD OF SURVEYS, PAGES 88 TO 92, RECORDS OF SAID COUNTY; THENCE NORTH 50 DEGREES 57' 41" EAST ALONG SAID SOUTHEASTERLY LINE OF THE RIGHT OF WAY SAID GAGE CANAL, 300.99 FEET; THENCE CONTINUING ALONG SAID SOUTHEASTERLY LINE OF THE RIGHT OF WAY OF SAID GAGE CANAL, NORTH 51 DEGREES 17' 20" EAST, 79.68 FEET; THENCE SOUTH O1 DECGREES 00' 12"WEST, 240.36 FEET TO THE TRUE POINT OF BEGINNING. THE ABOVE LEGAL DESCRIPTION IS PURSUANT TO CERTIFICATE OF COMPLIANCE RECORDED NOVEMBER 6, 1986, AS INSTRUMENT NO. 86-330665, OFFICIAL RECORDS.