CRA - 130RESOLUTION NO. CRA -130
A RESOLUTION OF THE CYPRESS REDEVELOPMENT AGENCY
APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT
BETWEEN THE CYPRESS REDEVELOPMENT AGENCY AND
HOPKINS REAL ESTATE GROUP
WHEREAS, the Cypress Redevelopment Agency "Agency is a public body,
corporate and politic, organized and existing under the California Community
Redevelopment Law (Health Safety Code §33000 et seq.) "CRL and
WHEREAS, by previous action duly and regularly taken, the City of Cypress "City
and the Agency adopted the Redevelopment Plan for the Cypress Merged and Amended
Project Area as amended from time to time "Redevelopment Plan which Redevelopment
Plan delineates the Cypress Merged and Amended Project Area "Project Area and
WHEREAS, the Agency staff has negotiated a Disposition and Development
Agreement "DDA by and between the Agency and Hopkins Real Estate Group, a
California corporation "Developer relating to that certain real property owned by Agency
comprised of approximately 13.3 acres of land area located at the northwest corner of
Katella Avenue and Winners Circle within the Project Area "Site and
WHEREAS, the DDA provides for Agency to convey the Site to Developer for the
sum of $20,410,750 "Purchase Price and for Developer to develop a commercial project
on the Site "Project which Project is consistent with the Redevelopment Plan for the
Project Area; and
WHEREAS, Health and Safety Code Section 33433 requires that the Agency
prepare a Summary Report prior to disposing of property located in a redevelopment project
area and that the Agency Board and City Council conduct a noticed joint public hearing with
respect to the DDA, and that the approval of the DDA be accompanied by certain findings
and determinations as set forth herein; and
WHEREAS, a Summary Report for the DDA has been prepared and, on the 28th
day of April, 2008, the Agency Board and the City Council held a joint public hearing on the
proposed DDA at which time the Agency Board and the City Council reviewed and
evaluated all of the information, testimony and evidence presented during the public
hearing; and
WHEREAS, an Initial Study /Environmental Checklist and Mitigated Negative
Declaration have been prepared for the proposed Project in accordance with the provisions
of the California Environmental Quality Act and the State CEQA Guidelines; and
WHEREAS, the Initial Study /Environmental Checklist for the proposed Project has
determined that although the proposed Project could have a significant adverse impact on
the environment, there would not be a significant effect in this case because appropriate
mitigation measures were made a part of the Mitigated Negative Declaration; and
WHEREAS, the City circulated the Initial Study /Environmental Checklist and
Mitigated Negative Declaration for the proposed Project for review in compliance with the
California Environmental Quality Act and the State CEQA Guidelines.
NOW THEREFORE, the Board of the Cypress Redevelopment Agency hereby
resolves as follows:
1. The above Recitals are true and correct and incorporated herein and made a
part hereof.
2. That the Agency does hereby find and determine as follows:
a. The DDA effectuates the purposes of the CRL and the Redevelopment
Plan, is in the best interests and welfare of the City of Cypress, and is of benefit to the
Project Area and the City of Cypress.
b. The Agency's conveyance of the Site to Developer and the
development of a commercial project on the Site will assist in the elimination of blighting
conditions in the Project Area in that the Site is underutilized in its location in a high visibility
and commercially desirable area in the City of Cypress.
c. The Agency's conveyance of the Site is consistent with the Agency's
adopted 2005 -2009 Implementation Plan, in that the Implementation Plan (i) identifies in
Section II.B the Agency's Goal for all project areas to continue to strengthen the economic
environment and in Section IV.B, Objective 1, the objective of alleviating and preventing
recurrence of blighting by stabilizing property values by promoting quality development
according to appropriate land use planning, and as a program to achieve that objective the
Agency working with developers to review architectural design and other design amenities,
(ii) identifies in Section IV.B, Objective 2, the objective of encouraging new development of
commercial uses that provide employment opportunities, and (iii) identifies in Section IV.B,
the development of the Site as a project that would address one or more factors of blight.
d. The consideration for the Agency's disposition of the Site to Developer
is not less than the fair market value of the Site at its highest and best use in accordance
with the Redevelopment Plan.
3. That the DDA by and between Agency and Developer, a copy of which is on
file with the Secretary of the Agency, is hereby approved.
4. That the Agency Chairperson is authorized and directed to sign the DDA on
behalf of the Agency.
5. That the Agency's Executive Director is authorized and directed to execute
such other documents, including but not limited to the exhibits attached to the DDA, and to
take such other and further actions, as may be necessary and proper to carry out the terms
of the DDA and the purpose of this Resolution.
6. That the Agency Board, in the exercise of its independent judgment, has
considered the Mitigated Negative Declaration and Mitigation Monitoring Program prepared
for the Project and finds that they reflect the independent judgment and analysis of the
Agency Board and that they were prepared in accordance with the requirement of the
California Environmental Quality Act, including but not limited to adherence to all required
noticing and review periods. Based on that independent review and analysis, the Agency
Board hereby approves the Mitigated Negative Declaration and Mitigation Monitoring
Program prepared for the Project.
PASSED, APPROVED AND ADOPTED by the governing body of the Cypress
Redevelopment Agency, at a regular meeting held on the 28 day of April 2008.
ATTEST:
J QEii.,-
SECRETARY OF THE CYPRESS
REDEVELOPMENT AGENCY
rl►
CHAIRPERSoT •F THE CYPRESS
REDEVELOPMENT AGENCY
STATE OF CALIFORNIA
COUNTY OF ORANGE SS
I, DENISE BASHAM, Secretary of the Cypress Redevelopment Agency, DO
HEREBY CERTIFY that the foregoing Resolution was duly adopted at a regular meeting of
the said Agency held on the 28 day of April 2008; by the following roll call vote:
AYES: 5 AGENCY MEMBERS: Bailey, Luebben, Narain, Mills, and Seymore
NOES: 0 AGENCY MEMBERS: None
ABSENT: 0 AGENCY MEMBERS: None
SECRETARY OF THE CYPRESS
REDEVELOPMENT AGENCY