Resolution No. 2011-030RESOLUTION NO. 2011-30
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
VERNON APPROVING THE ASSIGNMENT OF AND ASSIGNING AN
EXISTING OBLIGATION TO PURCHASE AND DEVELOP A
CERTAIN PROJECT TO THE REDEVELOPMENT AGENCY OF THE
CITY OF VERNON
WHEREAS, the City Council of the City of Vernon (`City") has
in its exercise of its powers and functions initiated certain projects
to benefit the City; and
WHEREAS, there exists in the City of Vernon the
Redevelopment Agency of the City of Vernon ("Agency"), a body politic
and corporate; and
WHEREAS, the Agency is engaged in activities necessary and
appropriate to carry out its obligations under the California
Redevelopment Law (Health & Safety Code §§ 33,000, el, seq.), within
the City of Vernon; and
WHEREAS, City has designated and commenced a certain project
which qualifies as an Agency project; and
WHEREAS, City projects requiring Agency financial assistance
may be transferred to the Agency; and
WHEREAS, the Agency is willing to accept assignment of
City's obligation to acquire certain real property at 4850 - 5050
Pacific Boulevard for further redevelopment purposes; and
WHEREAS, the City has expended $1,514,365.08 in furtherance
of acquisition of the said real property.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF VERNON AS FOLLOWS:
SECTION 1: The City Council of the City of Vernon hereby
finds and determines that the recitals contained hereinabove are true
and correct.
SECTION 2: The City Council of the City of Vernon hereby
assigns to the Redevelopment Agency of the City of Vernon its right,
title, and interest in the real properties at 4850 - 5050 Pacific
Boulevard, together with its obligation to complete the acquisition of
said real property for further redevelopment purposes.
SECTION 3: The foregoing assignment is subject to a formal
Resolution by the Redevelopment Agency of the City of Vernon accepting
said assignments and payment to the City of Vernon of the sum of
$1,514,365.08.
SECTION 4: The City Council of the City of Vernon hereby
directs the City Administrator to execute such documents as may be
required to implement the provisions of this Resolution.
SECTION 5: The City Council of the City of Vernon hereby
directs the City Clerk, or the City Clerk's designee, to provide a
certified copy of this Resolution to the Executive Director of the
Redevelopment Agency of the City of Vernon.
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SECTION 6: The City Clerk of the City of Vernon shall
certify to the passage, approval and adoption of this resolution, and
the City Clerk of the City of Vernon shall cause this resolution and
the City Clerk's certification to be entered in the File of
Resolutions of the Council of this City.
APPROVED AND ADOPTED this lst day of March, 2011.
ATXST„
Mard �;. YEmfg/cyi, 9!i/ y Clerk
Name:
Hilario Gonzales
Title: Mayor
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STATE OF CALIFORNIA )
) ss
COUNTY OF LOS ANGELES )
I, Willard G. Yamaguchi, City Clerk of the City of Vernon, do
hereby certify that the foregoing Resolution, being Resolution
No. 2011-30, was duly passed, approved and adopted by the City Council
of the City of Vernon at a regular meeting of the City Council duly
held on Tuesday, March 1, 2011, and thereafter was duly signed by the
Mayor or Mayor Pro-Tem of the City of Vernon.
Executed this )�" day of March, 2011, at Vernon, California.
(SEAL)
r
llard G.
ch City Clerk
=m
CITY CLERK'S OFFICE
INTEROFFICE MEMORANDUM
DATE: March 7, 2011
TO: Rory Burnett, Finance Director
Mike Montgomery, RDA Executive Director/Legal Counsel
Mark Whitworth, City Administrator/Fire Chief
FROM: Willard Yamaguchi, City Clerk
RE: Resolution No. 2011-30 — A Resolution of the City Council of the City of Vernon
Approving the Assignment of and Assigning an Existing Obligation to Purchase and
Develop a Certain Project to the Redevelopment Agency of the City of Vernon
Transmitted herewith is a copy of Resolution No. 2011-30 referenced above, which was approved by the
City Council of the City of Vernon on March 1, 2011.
Thank you.
WY:dj
Attachment
c: Resolution No. 2011-30
61 e
STAFF REPORT
CITY ADMINISTRATION
DATE: March- 1, 2011
TO: Honorable Mayor and City Council
FROM: Michael Montgomery, Assistant City Administrator)
f
RE: Transfer of Development Obligations to the Redevelopment Agency
Two Resolutions are presented to the City Council for its action. One would act to transfer to the
RDA the obligation to acquire the Angeles Can site on Pacific Boulevard and hold it for future
development purposes, in return for which the general fund will recapture $1,514,365.08 already
expended. The second resolution would trade development costs of the Pechiney Project at 3200
Fruitland Avenue for future benefits, in return for.environmental credits that can be utilized by
Light & Power.
The two RDA resolutions merely accept the assignments on the City's terms.