07-14-2009 CC RA MINUTES - Laserfiche WebLink

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CITY CLERK'S OFFICE 5557-826- 951- COUNCIL/AGENCY MEMBERS CITY COUNCIL G M B D M H A A E A A A A D AND R L I V C R A D E L I T M REDEVELOPMENT AGENCY N N E S A S E D Y R MINUTES R R T TUESDAY, JULY 14, 2009, 1 P.M. E H Z U ART PICK COUNCIL CHAMBER R CITY HALL 3900 MAIN STREET 1 2 3 4 5 6 7 WARDS Mayor Loveridge presented a plaque to Councilmember Melendrez for his dedicated service as Mayor Pro Tempore from January 1, 2009, through June 30, 2009. The City Council appointed Councilmember Gardner as Mayor Pro Tempore Motion X for the period of July 1 through December 31, 2009. Second X All Ayes Mayor Loveridge called upon Riverside Arts Council Director Patrick Brien who recognized Riverside Art Alliance as Arts Honoree of the Month. Mayor Loveridge called upon Councilmember Adams who recognized Police Officer Frank Hoyos and presented certificates to Police Officers Silvio Macias and Henry Parks for their outstanding service. Mayor Loveridge called upon CVS Caremark Vice President for Consumer Programs Kirby Bessant who unveiled Spanish language prescription drug discount cards. PUBLIC HEARINGS/PLANNING REFERRALS AND APPEALS REDEVELOPMENT AGENCY - PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS - 5410 MAGNOLIA Hearing was called in accordance with C alifornia Health and Safety Code Section 33431 to consider the California Residential Purchase Agreement and Joint Escrow Instructions with Redevelopment Agency and Adam and Beth Wright for the sale of an Agency-owned single-family residence located at 5410 Magnolia Avenue. No one spoke regarding the matter. No protests, written or oral were presented. The public hearing was officially closed. Following discussion, the Redevelopment Agency (1) approved the California Residential Purchase Agreement and Joint Escrow Instructions with Adam and Beth Wright for the sale of Agency-owned property located at 5410 Magnolia Avenue for the appraised value of $210,000; (2) approved a down payment assistance loan to the homebuyers in the amount of $50,783; (3) approved a bridge loan to the homebuyer s in the amount of $8,000; (4) approved the closing cost on the property of $6,300; and ( 5) authorized the Executive Director, or his designee, to execute the agreement and down Motion X payment assistance loan documents, including making minor, non - Second X substantive changes, and to execute all documents and instruments Ayes X X X X X X necessary to complete the sale of the property. Noes X 95-3