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<br />1 RESOLUTION NO. 865 <br /> <br />2 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br />RIVERSIDE APPROVING THAT CERTAIN DISPOSITION AND <br />3 DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT <br />AGENCY OF THE CITY OF RIVERSIDE AND OLIVEWOOD LP. <br /> <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br /> <br />WHEREAS, the Redevelopment Agency of the City of Riverside ("Agency") is engaged in <br /> <br />activities necessary to execute and implement the Redevelopment Plan for the Merged <br /> <br />Downtown/Airport Industrial Redevelopment Project ("Redevelopment Project Area"); and <br /> <br />WHEREAS, in order to implement the Redevelopment Plan for the Redevelopment Project <br /> <br />Area, the Agency proposes to sell property, comprised of thirteen (13) parcels (the "Site") located at <br /> <br />northeast comer of Prospect Avenue and Olivewood Avenue known as Assessor's Parcel Numbers <br /> <br />219-043-010, 219-043-011, 219-043-012, 219-043-013, 219-043-014, 219-043-015, 219-043-016, <br />219-043-017,219-043-018,219-043-019, 219-043-020, 219-043-021, and 219-043-022, pursuant to <br /> <br />the terms and provisions of a certain Disposition and Development Agreement ("Agreement") by <br /> <br />and between the Agency and Olivewood LP ("Developer"); and <br /> <br /> <br />WHEREAS, the proposed Agreement contains all the provisions, terms, conditions and <br /> <br />obligations required by state and local law; and <br /> <br /> <br />WHEREAS, the Agency has prepared, and the City Council has reviewed and considered, a <br /> <br />summary report setting forth the cost of the Agreement to the Agency, including the sale of the Site <br /> <br /> <br />to the Developer, and has made said summary report available for public inspection in accordance <br /> <br />with Section 33433 of the California Community Redevelopment Law (Health and Safety Code <br /> <br />Sections 33000 et seq.); and <br /> <br /> <br />WHEREAS, pursuant to provisions of the California Community Redevelopment Law, the <br /> <br />Agency and the City Council have noticed and held a duly noticed joint public hearing on the <br /> <br /> <br />proposed Agreement; and <br /> <br />WHEREAS, pursuant to the California Environmental Quality Act (Public Resources Code <br /> <br />Section 21000 et seq.) ("CEQA"), and the CEQA Implementing Guidelines (14 California Code of <br /> <br /> <br />Regulations Section 15000 et seq.) (the "Guidelines"), the City of Riverside (the "City!') adopted and <br /> <br />certified the Final Program Environmental Impact Report for the City of Riverside General Plan <br />
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