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RESOLUTION NO. 33 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERSIDE, CALIFORNIA, AS SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE APPROVING A PURCHASE AND SALE AGREEMENT WITH JAMES E. THORNELL DOING BUSINESS AS JAMES DEVELOPMENT FOR THE SALE OF APPROXIMATELY 0.48 ACRES OF SUCCESSOR AGENCY -OWNED VACANT LAND LOCATED AT 3441 CENTRAL AVENUE, RIVERSIDE, CALIFORNIA. WHEREAS, pursuant to Resolution No. 22322, adopted by the City Council of the City of Riverside ("City") on January 10, 2012, the City of Riverside agreed to serve as the Successor Agency ("Successor Agency") to the Redevelopment Agency of the City of Riverside ("Redevelopment Agency") commencing upon dissolution of the Redevelopment Agency on February 1, 2012 pursuant to Assembly Bill xl 26 ("AB 26"); and WHEREAS, Health and Safety Code Section 34177 (i) provides that a successor agency is required to continue to oversee development of properties until the contracted work has been completed or the contractual obligations of the former redevelopment agency can be transferred to other parties; and WHEREAS, in the late 1950's, the City acquired the property located at 3441 Central Avenue, bearing Assessor Parcel Numbers 225-173-028 and -031 ("Property"), a portion of which was previously transferred to the State of California and has been incorporated into the westbound 91 freeway off -ramp, and the balance of which is approximately 0.48 acres and is irregularly shaped; and WHEREAS, on June 1, 1999 the City Council authorized the transfer of the Property to the former Redevelopment Agency ("Former Agency") at no cost; and WHEREAS, the Property is located in a "landscaped freeway area" and the Former Agency was never able to secure the intended signage as Caltrans would not approve the permit; and WHEREAS, pursuant to AB 1484 and Health and Safety Code Section 34191.5(c)(2), the Successor Agency prepared a Long Range Property Management Plan dated February 25, 2014, for the disposition of the former Redevelopment Agency properties, which included the Property; and WHEREAS, on March 6, 2014, the Department of Finance approved the Successor Agency Long Range Property Management Plan ("Plan"); and