CRA - 22RESOLUTION NO. CRA-22
A RESOLUTION OF THE CYPRESS REDEVELOPMENT AGENCY
GRANTING AN OPTION IN FAVOR OF THE CITY OF CYPRESS
TO PURCHASE A PORTION OF CERTAIN REAL PROPERTY
KNOWN AS CYPRESS ELEMENTARY SCHOOL AND
AUTHORIZING CERTAIN ACTIONS IN CONNECTION THEREWITH.
WHEREAS, the Cypress Redevelopment Agency ("Agency") has entered into
that certain Option Agreement ("Option Agreement") with the Cypress School
District ("District") pursuant to which the District granted the Agency an
option to purchase a portion of certain real property commonly known as the
Cypress Elementary School, located at 9031 Grindlay Street, Cypress,
California, and more particularly described in the Option Agreement (the
"Property"); and
WHEREAS, the Agency desires to grant the City of Cypress ("City") an
exclusive option to purchase the Property on the same terms and conditions
as set forth in the Option Agreement, except as modified by this Resolution.
NOW, THEREFORE, the Cypress Redevelopment Agency DOES HEREBY RESOLVE
as follows:
SECTION 1. The Agency hereby grants to the City the exclusive right
to purchase the Property on the same terms and conditions as set forth in
the Option Agreement, except as modified by this Resolution.
SECTION 2. The introduction to the Option Agreement is modified to
refer to the City as "Optionee" and the Agency as "0ptionor."
SECTION 3. Section10 of the Option Agreement is modified as follows:
"OPTIONEE OPTIONOR
City of Cypress
5275 Orange Avenue
Cypress, California 90630
Cypress Redevelopment Agency
5275 Orange Avenue
Cypress, California 90630"
SECTION 4. The Agency hereby authorizes and directs the Chairman,
Secretary, Executive Director and any officers of the Agency who are
authorized to act on their behalf to take any and all actions necessary
and appropriate to effectuate the transactions contemplated by this
Resolution and the Option Agreement as modified hereby.
PASSED AND ADOPTED by the governing body of the Cypress Redevelopment
Agency on the 13thday of May 1985.
CYPRESS REDEVE~bOPMENT AGENCY
ATTEST:
S~CR~TARY-~ ~AGE~Y
CYPRESS REDEVELOPMENT
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
SS
I, DARRELL ESSEX, Secretary of the Cypress Redevelopment Agency,
DO HEREBY CERTIFY that the foregoing Resolution was duly adopted at a
regular meeting of said Agency held on the 13thday of May 1985, by the
following roll call vote:
AYES: 3
NOES: 0
ABSENT: 2
AGENCY MEMBERS: Mullen, Partin, and Kanel
AGENCY MEMBERS: None
AGENCY MEMBERS: Coronado and Lacayo
SECrETaRY /
CYPRESS REDEVELOPMENT AGENCY
AGREEMENT TO FACILITATE SALE OF PROPERTY
This Agreement made this day of , 1985, at Cypress,
California, by and between the CYPRESS REDEVELOPMENT AGENCY or its nominee,
hereinafter referred to as "OPTIONEE," and CYPRESS SCHOOL DISTRICT, herein-
after referred to as "OPTIONOR."
WHEREAS, the OPTIONEE and the OPTIONOR have previously entered into
an Option Agreement in the form of Exhibit "A," hereto; and
WHEREAS, the OPTIONEE or the OPTIONOR desire to facilitate consum-
mation of the sale of property referred therein at the earliest possible
time; and
WHEREAS, the OPTIONEE and the OPTIONOR further desire to facilitate
the sale by OPTIONOR and the purchase by OPTIONEE of those areas designated
as "B" and "C" on Exhibit "B," hereto; and
WHEREAS, the Agency further desires to express its intention to acquire,
trade or joint venture with certain real property designated as area "D" in
the Agreement to Facilitate Sale of Property (the "Agreement to Facilitate").
NOW, THEREFORE, the OPTIONEE and the OPTIONOR agree as follows:
1. Paragraph 6 of the Option Agreement (Exhibit "A") is deleted and
replaced by the following:
foot."
"6. PURCHASE. The purchase price shall be $8.10 per square
2. The 0PTIONOR intends to sell and the 0PTIONEE intends to purchase
in the amount of $8.10 per square foot, or the OPTIONOR intends to trade or
joint venture with certain real property designated as areas "B," "C" and
3. The OPTIONOR agrees to conduct all appropriate proceedings neces-
sary to the sale of areas "A," "B," "C" and "D" in conformity with Section
39500 et seq. of the Education Code at the earliest possible time.
4. OPTIONOR shall complete all proceedings required pursuant to the
Education Code, the Government Code, and the Subdivision Map Act with respect
to the sale to OPTIONEE of area "A" (as shown on Exhibit "B") in sufficient
time to allow OPTIONEE to acquire said area "A" by the time established
therefor in the Option Agreement (Exhibit "A"). The OPTIONEE's time to close
on area "A" shall be extended by such time as OPTIONOR utilizes to achieve
compliance with all of such requirements.
IN WITNESS THEREOF, the parties hereto have subscribed their names as
of the date first above written.
OPTIONOR
CYPRESS SCHOOL DISTRICT
OPTIONEE
CYPRESS REDEVELOPMENT AGENCY
By By