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RE SOLUTION NO. 6 6 6 A RESOLUTION OF THE BOARD OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, CALIFORNIA, APPROVING THAT AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY BY AND BETWEEN THE AGENCY AND TONY CAMPOS, LUCY L. CAMPOS, AND TONY CAMPOS JR., APPROVING THE DISPOSITION OF SURPLUS REAL PROPERTY OF THE AGENCY PURSUANT TO SAID AGREEMENT, AND AUTHORIZING THE EXECUTIVE DIRECTOR TO IMPLEMENT SAID SALE. WHEREAS, the Redevelopment Agency of the City of Riverside, California ("Agency"), desires and intends to implement the Amended and Restated Redevelopment Plan CRedevelopment Plan") for the merged University Corridor/Sycamore Canyon Project Areas ("Project Area"); and WHEREAS, the Agency has processed applications to rezone and obtain a lot line adjustment on certain property in the vicinity of 9th and Eucalyptus Streets in the City of Riverside as part of the Agency's efforts to enhance marketability of properties in the Eastside Neighborhood; and WHEREAS, on or about November 24, 1998, the City Council of the City of Riverside approved the requested rezoning and lot line adjustment in cases RZ-006-978 and LL-013-967 pursuant to a condition that the Agency dispose of the remnant parcel having dimensions of approximately 20 feet by 52 feet: and consisting of approximately 1040 sq.ft. (the "Parcel") created by the lot line adjustment; and WHEREAS, the Agency has determined that the Parcel is surplus property having no fair market value and minimal reuse value and that the only viable use of the Parcel is to merge it with the property of the adjoining property owner; and WHEREAS, the Agency desires to sell the Parcel to the adjoining property owner on the terms and conditions contained in that certain Agreement for Purchase and Sale of Real Property ("Agreement") by and between the Agency and the adjoining property owner; and WHEREAS, the Agreement will serve to implement the Redevelopment Plan in the Project .Area and will facilitate the elimination of blight from the Project Area. NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE BOARD OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE AS FOLLOWS: SECTION 1. That the above recitals are all true and correct. SECTION 2. That the Board ("Agency Board") of the Redevelopment Agency of the City of Riverside ("Agency") has considered for approval that certain Agreement for Purchase and Sale of Real Property by and between the Agency and Tony Campos, Lucy L. Campos, and Tony Campos Jr,, at a duly noticed public hearing held in compliance with California Health and Safety Code §33431. SECTION 3. That the Agency Board, based upon substantial evidence in the record, makes the following findings: