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RESOLUTION NO. 816 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE APPROVING THAT CERTAIN DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE AND MS-REGENCY TOWER, LLC. WHEREAS, the Redevelopment Agency of the City of Riverside ("Agency") is engaged in activities necessary to execute and implement the Redevelopment Plan for the Downtown Redevelopment Project ("Redevelopment Project Area"); and WHEREAS, 10 order to implement the Redevelopment Plan for the Redevelopment Project Area, the Agency proposes to sell property, comprised of four (4) parcels (the "Site") located at southeast corner of Orange Street and Ninth Street known as Assessor's Parcel Numbers 215-373-001, 002, 003 and a portion of 004, and 400 parking space condominiums located in the Orange Square Project parking garage located at the southwest corner of Orange Street and Ninth Street (the "Parking Condominiums"), pursuant to the terms and provisions of a certain Disposition and Development Agreement ("Agreement") by and between the Agency and MS-Regency Tower, LLC ("Developer"); and WHEREAS, the proposed Agreement contains all the provisions, terms, conditions and obligations required by state and local law; and WHEREAS, the Agency has prepared, and the City Council has reviewed and considered, a summary report setting forth the cost of the Agreement to the Agency, including the sale of the Site and the Parking Condominiums to the Developer, and has made said summary report available for public inspection in accordance with Section 33433 of the California Community Redevelopment Law (Health and Safety Code Sections 33000 et seq.); and WHEREAS, pursuant to provisions of the California Community Redevelopment Law, the Agency and the City Council have noticed and held a duly noticed joint public hearing on the proposed Agreement; and WHEREAS, pursuant to the California Environmental Quality Act (Public Resources Code Section 21000 et seq.) ("CEQA"), and the CEQA Implementing Guidelines (14 California Code of Regulations Section 15000 et seq.) (the "Guidelines"), the City of Riverside (the "City") adopted and certified the Final Program Environmental Impact Report for the City of Riverside General Plan Program (the "General Plan Program EIR") in February 2006 in connection with the City's General Plan 2025 Program (the "General Plan"); and WHEREAS, the General Plan Program EIR is a program environmental impact report under CEQA and the Guidelines, addressing the environmental impacts from the -1-