Laserfiche WebLink
RESOLUTION NO. 32 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERSIDE, <br />CALIFORNIA, AS SUCCESSOR AGENCY TO THE REDEVELOPMENT <br />AGENCY OF THE CITY OF RIVERSIDE APPROVING THE EXECUTION <br />OF A PURCHASE, SALE, AND DEVELOPMENT AGREEMENT WITH <br />COMMONS PARTNERS, LLC FOR THE SALE OF 1.8 ACRES OF <br />SUCCESSOR AGENCY -OWNED VACANT LAND LOCATED AT 3158 - <br />3250 MAIN STREET AND THE HISTORICAL TEAGUE TEXACO GAS <br />STATION LOCATED AT 3102 MAIN STREET, RIVERSIDE, CALIFORNIA. <br />WHEREAS, pursuant to Resolution No. 22322, adopted by the City Council of the City of <br />Riverside ("City") on January 10, 2012, the City of Riverside agreed to serve as the Successor <br />Agency ("Successor Agency") to the Redevelopment Agency of the City of Riverside <br />("Redevelopment Agency") commencing upon dissolution of the Redevelopment Agency on <br />February 1, 2012 pursuant to Assembly Bill xl 26 ("AB 26"); and <br />WHEREAS, Health and Safety Code Section 34177 (i) provides that a successor agency is <br />required to continue to oversee development of properties until the contracted work has been <br />completed or the contractual obligations of the former redevelopment agency can be transferred to <br />other parties; and <br />WHEREAS, on March 22, 2018, the Development Committee selected Commons Partners, <br />LLC ("Common Partners"), as the party to acquire the 1.8 acre Successor Agency -owned property <br />located at 3102 — 3250 Main Street and 3654 First Street, identified as Assessor's Parcel Numbers <br />213-031-002, -003, -004, and -005 and 213-081-001 and -002 ("Property"), for the development of a <br />mixed-use retail and residential project ("Project"); and <br />WHEREAS, pursuant to AB 1484 and Health and Safety Code Section 34191.5(c)(2), the <br />Successor Agency prepared a Long Range Property Management Plan for the disposition of the <br />former Redevelopment Agency properties; and <br />WHEREAS, on February 25, 2014, Department of Finance approved the Amended Long <br />Range Property Management Plan ("Plan"); and <br />WHEREAS, the Plan sets forth the sale of the Property to be consistent with the purpose <br />(housing) for which it was originally acquired, under the Redevelopment Five -Year Implementation <br />Plan; and <br />