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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 />RESOLUTION NO. R-83-15 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />APPROVING THAT CERTAIN DISPOSITION AND DEVELOPMENT <br />AGREEMENT BY AND BETWEEN THE CITY OF COLTON, THE <br />COLTON HOUSING AUTHORITY AND EVERGREEN — COLTON & MT. <br />VERNON, L.L.C. FOR THE SALE AND DEVELOPMENT OF CITY AND <br />AUTHORITY REAL PROPERTY PURSUANT TO THAT DISPOSITION <br />AND DEVELOPMENT AGREEMENT <br />WHEREAS, the City of Colton ("City") currently owns in fee that certain real property <br />generally located at the northwest corner of Colton Avenue and Mt. Vernon Avenue in the City <br />(APN 0161-221-03-0000) and legally described in Exhibit "A" attached to this resolution and <br />incorporated by reference herein (the "City Parcel"), and; <br />WHEREAS, the Colton Housing Authority ("Authority") owns that certain real property <br />generally located at the northwest corner of Colton Avenue and Mt. Vernon Avenue, adjacent to <br />the City Parcel (APNs 0161-221-04, 05, 06, 37, 67, 70) (the "Authority Parcels"), the conveyance <br />by separate resolution, of which is being considered by the Authority at a duly noticed public <br />hearing on July 7, 2015, and; <br />WHEREAS, California Government Code Sections 37421 and 37422 provide that when <br />the legislative body of a City finds that the public interest and convenience require the sale of <br />public sites, it may adopt a resolution of its finding and intention to sell such property, and must <br />provide for publication and public hearing of the proposed sale and; <br />WHERAS, the City Council of the City approved Resolution No. R-56-15 (Exhibit `B"), <br />finding that the public interest and convenience require the sale of the City Parcel, publishing <br />and setting the public hearing for July 7, 2015, and; <br />WHEREAS, the Planning Commission approved Resolution No. R-12-15 (Exhibit "C"), <br />finding that the proposed sale of the City Parcel and Authority Parcels is in conformity with the <br />General Plan, Zoned C-2 (General Commercial) with Residential Overlay, pursuant to California <br />Government Code section 65402, and; <br />WHEREAS, EVERGREEN - Colton & Mt. Vernon, L.L.C. ("Developer") wishes to <br />purchase the City Parcel and the Authority Parcels for the development of a Smart & Final Extra <br />and an additional retail/restaurant building (the "Project") serving the needs of the regional <br />community and expanding the City's sales tax base, employment and shopping opportunities, and; <br />WHEREAS, pursuant to an appraisal of the City Parcel and the Authority Parcels <br />conducted by a licensed appraiser, Smothers Appraisal Services, the City Parcel and the Authority <br />Parcels was appraised for a fair market value of $1,040,000, and Developer has offered to purchase <br />the City Parcel and Authority Parcels for $1,050,000, and; <br />WHEREAS, City and Developer have negotiated a Disposition and Development <br />Agreement ("Agreement"), in substantially the form attached hereto as Exhibit "D" and <br />incorporated herein by this reference, for Developer to acquire the City Parcel from the City for <br />23152.06001 \9383102.2 <br />