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<br />RESOLUTION <br />NO. 4849 <br />con't. <br /> <br />RESOLUTION <br />NO. 4850 <br />ADOPl'ED <br /> <br />/ <br /> <br />RESOLUTION <br />ARA 52 <br />ADOPTED <br /> <br />/ <br /> <br />RESOLUTION <br />ARA 53 <br />ADOPTED <br /> <br />/ <br /> <br />HEARING <br />(Repub lie <br />Development <br />Company) t <br />~t1,1; <br />t'l <br />f' I <br /> <br />24:9918 <br /> <br />AYES <br />NOES <br />ABSENT: <br /> <br />Councilmen Gilb, Parry, Pellegrino, Saelid, Margett <br />None <br />None <br /> <br />The City Attorney presented, explained the content and read the title <br />of Resolution No. 4850 entitled: "A RESOLUTION OF THE CITY COUNCIL <br />OF THE CITY OF ARCADIA MAKING CERTAIN FINDINGS WITH RESPECT TO THE <br />CONSIDERATION TO BE RECEIVED BY THE ARCADIA REDEVELOPMENT AGENCY PUR- <br />SUANT TO CERTAIN DISPOSITION AND DEVELOPMENT AGREEMENT BY THE ARCADIA <br />REDEVELOPMENT AGENCY WITH AMERICAN SAVINGS AND LOAN ASSOCIATION FOR <br />THE SALE AND DEVELOPMENT OF 55-65 EAST HUNTINGTON DRIVE IN THE CENTRAL <br />REDEVELOPMENT PROJECT; APPROVING THE PROPOSED SALE OF SAID REAL PRO- <br />PERTY: AND APPROVING THE DISPOSITION AND DEVELOPMENT AGREEMENT PERTAIN- <br />ING THERETO." <br /> <br />1 <br /> <br />It was MOVED by Councilman Gilb, seconded by Councilman Pellegrino and <br />carried on roll call vote as follows that the further reading of the <br />full text be waived and ADOPTED. <br /> <br />AYES <br />NOES <br />ABSENT: <br /> <br />Councilmen Gilb, Parry, Pellegrino, Saelid, Margett <br />None <br />None <br /> <br />The Agency Counsel presented, explained the content and read the <br />title of ARA Resolution No. 52 entitled: '~RESOLUTION OF THE <br />ARCADIA REDEVELOPMENT AGENCY MAKING ENVIRONMENT FINDINGS NECESSARY <br />FOR THE PROPOSED DISPOSITION AND DEVELOPMENT AGREEMENT BY THE ARCADIA <br />REDEVELOPMENT AGENCY WITH AMERICAN SAVINGS AND LOAN ASSOCIATION FOR <br />THE SALE AND DEVELOPMENT OF 55-65 EAST HUNTINGTON DRIVE IN THE CENTRAL <br />REDEVELOPMENT PROJECT." <br /> <br />It was MOVED by Member Gilb, seconded by Member Pellegrino and carried <br />on roll call vote as follows that the further reading of the full text <br />be waived and ADOPTED. <br /> <br />AYES <br />NOES <br />ABSENT: <br /> <br />Members Gilb, Parry, Pellegrino, Saelid, Margett <br />None <br />None <br /> <br />The Agency Counsel presented, explained the content and read the <br />title of ARA Resolution No. 53 entitled: "A RESOLUTION OF THE ARCADIA <br />REDEVELOPMENT AGENCY MAKING CERTAIN FINDINGS WITH RESPECT TO THE CON- <br />SIDERATION TO BE RECEIVED BY THE ARCADIA REDEVELOPMENT AGENCY PURSUANT <br />TO A CERTAIN DISPOSITION AND DEVELOPMENT AGREEMENT BY THE ARCADIA RE- <br />DEVELOPMENT AGENCY WITH AMERICAN SAVINGS AND LOAN ASSOCIATION FOR THE <br />SALE AND DEVELOPMENT OF 55-65 EAST HUNTINGTON DRIVE IN THE CENTRAL RE- <br />DEVELOPMENT PROJECTj APPROVING THE PROPOSED SALE OF SAID REAL PROPERTY <br />AND THE DISPOSITION AND DEVELOPMENT AGREEMENT PERTAINING THERETO; AND <br />AUTHORIZING THE EXECUTION AND IMPLEMENTATION OF SAID DISPOSITION AND <br />DEVELOPMENT AGREEMENT." <br /> <br />It was MOVED by Member Gilb, seconded by Member Pellegrino and carried <br />on roll call vote as follows that the further reading of the full text <br />be waived and ADOPTED. <br /> <br />I <br /> <br />AYES <br />NOES <br />ABSENT: <br /> <br />Members Gilb, Parry, Pellegrino, Saelid, Margett <br />None <br />None <br /> <br />CONTINUED - Disposition and Development Agreements between the Arcadia <br />Redevelopment Agency and Republic Development Company for the proposed <br />sale and development of real property in the project area east of <br />Second Avenue together with the consideration of a proposed Disposition <br />and Development Agreement with Al Coke and Associates. In discussing <br />the information presented in staff report concerning area, original <br />purchase price and current estimated valuations of City and Agency owned <br />properties it was the consensuS that a selling price should be determin- <br />ed. An appraisal had been obtained on the subject properties. <br /> <br />-2- <br /> <br />12-18-79 <br />