CC - 2011-09 - Approved the Sale of Property 8832 Glendon Way to Qiao Garden Hotel Investement, Inc.RESOLUTION NO. 2011-09
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROSEMEAD TO APPROVE THE SALE OF THAT PROPERTY
KNOWN AS ASSESSOR'S PARCEL NUMBER 5390- 018 -904 AND
MORE COMMONLY KNOWN AS 8832 GLENDON WAY IN THE
CITY OF ROSEMEAD TO QIAO GARDEN HOTEL
INVESTMENT, INC. IN ACCORDANCE WITH CALIFORNIA
HEALTH AND SAFETY CODE SECTION 33433, AND MAKING
FINDINGS IN SUPPORT THEREOF
WHEREAS, on July 2, 2008 the Rosemead Community Development Commission
( "Commission") purchased that parcel of real property known as Assessor's Parcel number
5930 -018 -904 and more commonly known as 8832 Glendon Way in the City of Rosemead
( "Site "), for which the Commission paid the then -fair market price of Four Million Three
Hundred Thirty -Six Thousand Two Hundred Forty -Three Dollars and Eighty -Four Cents
($4,336,243.84) for redevelopment purposes; and
WHEREAS, QIAO GARDEN HOTEL INVESTMENT, INC. ( "Buyer ") has agreed to
purchase the Site according to a Purchase and Sale Agreement ( "Agreement ") a copy of which is
attached hereto as Exhibit A and to operate the existing hotel on the Site and/or utilize the Site as
a part of a greater commercial development project in the area of the Site which will assist in the
elimination of blight and to encourage economic revitalization in that area; and
WHEREAS, there is no possibility that the sale of the site will have a significant effect
on the environment, the project is exempt from review under the California Environmental
Quality Act, pursuant to section 15061(b)(3) of the CEQA guidelines.
WHEREAS, the Agency has adopted an Implementation Plan pursuant to Health and
Safety Code Section 33490, which provides, among other things, revitalize areas that exhibit
adverse physical and economic conditions, stimulate private investment and complementary
development, and provide tax increment funds for the redevelopment activities that are needed to
alleviate blighting conditions; and
WHEREAS, the Implementation Plan does not call for the Commission to acquire
parcels of real property other than for the elimination of blight and neither plan calls for the
retention of parcels of real property other than as part of site assembly; and
WHEREAS, the Agency has made available for public inspection a report and copy of
the Agreement required by Health and Safety Code Section 33433 ( "Report"), which Report is
also on file with the Secretary of the Agency and City Clerk of the City; and,
WHEREAS, Health and Safety Code Section 33433 requires that prior to the sale of
property by the CDC that such sale be approved by Resolution of the City Council after a duly
noticed public hearing; and,
WHEREAS, on February 22, 2011, the City Council conducted a duly noticed public
hearing with respect to the Agreement and has considered all oral and written comments
submitted thereto prior to the adoption of this Resolution.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF ROSEMEAD
DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1 : The City Council finds that the above recitations are true and correct and,
accordingly, are incorporated as a material part of this Resolution.
SECTION 2 : The City Council finds that all terms of the Agreement are in substantial
conformance with the Implementation Plan and, that the Site has received all required review in
compliance with CEQA prior to the approval of this Resolution.
SECTION 3 : The City Council finds and determines the following:
A. That the real property is to be sold for a price not less than the fair market value at
its highest and best use as allowed by the Redevelopment Plan; and
B. That the sale of the Property as contemplated in the Agreement will assist in the
elimination of blight within the Project Area•, and
C. The sale of the Property as contemplated in the Agreement is consistent with the
Agency's adopted Implementation Plan.
SECTION 4 : The Report prepared and made available pursuant to California Health and
Safety Code Section 33433 is hereby approved.
SECTION 5 : The sale of the Property as contemplated in the Agreement is hereby
approved.
SECTION 6 : The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED, AND ADOPTED this 22nd day of February, 2011.
+Gaylor, Mayor
ATTEST:
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Gloria Molleda, City Clerk
APPROVED AS TO FORM:
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Rachel Richman, City Attorney
Burke, Williams & Sorensen, LLP
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF ROSEMEAD
I, Gloria Molleda, City Clerk of the City of Rosemead, do hereby certify that the foregoing
Resolution No. 2011 -09 being:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD TO APPROVE THE
SALE OF THAT PROPERTY KNOWN AS ASSESSOR'S PARCEL NUMBER 5390 - 018.904 AND
MORE COMMONLY KNOWN AS 8832 GLENDON WAY IN THE CITY OF ROSEMEAD TO QIAO
GARDEN HOTEL INVESTEMENT, IN. IN ACCORDANCE WITH CALIFORNIA HEALTH AND
SAFETY CODE SECTION 3343, AND MAKING FINDINGS IN SUPPORT THEREOF
was duly and regularly approved and adopted by the Rosemead City Council on the 22nd of
February, 2011, by the following vote to wit:
Yes: Armenta, Clark, Low, Ly, Taylor
No: None
Abstain: None
Absent: None
Gloria Molleda
City Clerk