CDC - 2003-07 - Claims and DemandsRESOLUTION NO. 2003 -07
A RESOLUTION OF THE ROSEMEAD
COMMUNITY DEVELOPMENT COMMISSION
APPROVING A RESIDENTIAL PURCHASE
AGREEMENT WITH JIANGS VALLEY LLC FOR
SALE OF 9734 ABILENE STREET
The Rosemead Community Development Commission finds, determines
and resolves as follows:
Section 1. The Commission has listed 9734 Abilene for sale and secured
offers for sale of the property. The Commission has determined that the
$215,000.00 offer from Jiangs Valley LLC is at the highest price offered for the
property, and that the purchaser, s plan to combine the property with adjacent
property owned by it within the Redevelopment Project Area, will be of benefit to
the Project Area.
Section 2. The Commission has reviewed the Residential Purchase
Agreement offer and has conducted a public hearing thereon and has determined
that the agreement will assist in the elimination of blight within the project area
and that the consideration to be charged is not less than the fair market value.
Section 3. The Commission hereby approves the agreement and
authorizes the Chairman to execute the same. The Executive Director is
authorized to execute any documents necessary to effectuate the agreement.
Section 4. The Chairman shall sign and the Secretary shall certify to the
passage and adoption of this Resolution.
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PASSED, APPROVED and ADOPTED this 22nd day of APRIL , 2003.
airman, R eme d Com inity Development
Commission
ATTEST:
Secrefary, Rosemead Community Development Commission
I hereby certify that the foregoing Resolution
No. 2003 -07 was duly and regularly adopted at
a joint meeting of the Rosemead City Council
and the Rosemead Community Development
Commission at a regular meeting held on the .
22nd day of April 2003, by the following vote:
Yes: Clark „ Vasquez, Taylor, Imperial, Alarcon
No: None, Absent: None, Abstain: None
City Cle k