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2 <br />0 <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 />15 (Exhibit "D"), finding that the proposed sale of both the City and County Parcels is in <br />conformity with the General Plan; and more specifically, in conformity with the Hub City Centre <br />Specific Plan, Zoned Retail, pursuant to California Government Code section 65402; and <br />WHEREAS, Valley -Orange Enterprises, L.L.C. ("Developer") wishes to purchase the City <br />Parcel and County Parcel from the City for the development of a full service fueling station, <br />convenience store, quick service restaurant or casual dining, car wash facility and approximately <br />6,600 square feet of additional retail/restaurant space (the "Project"), serving the needs of the <br />regional community and expanding the City's sales tax base, employment and shopping <br />opportunities; and <br />WHEREAS, pursuant to an appraisal of the County Parcel conducted by a licensed <br />appraiser and a valuation analysis of the City Parcel conducted by the City's qualified economic <br />development consultant, the combined fair market value for both the City and County Parcels was <br />valued for $485,617; and <br />WHEREAS, City and Developer have negotiated a Disposition and Development <br />Agreement ("Agreement"), in substantially the form attached hereto as Exhibit "E" and <br />incorporated herein by this reference, for Developer to acquire the City Parcel and County Parcel <br />from the City for development of the Project; and <br />WHEREAS, the City held a public hearing on August 4, 2015, as set forth in Resolution <br />No. R-81-15, to hear any protests regarding the conveyance of the City and County Parcels to the <br />Developer. <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON <br />RESOLVES AS FOLLOWS: <br />23152.06001\9383102.2 <br />-2- <br />