RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERSIDE, CALIFORNIA, AS THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, APPROVING A LEASE TERMINATION AND SIGN PURCHASE AGREEMENT WITH UR VILLAGE LLC FOR THE SALE OF AN ELECTRONIC PYLON SIGN, LOCATED AT THE UNIVERSITY VILLAGE SHOPPING CENTER, IN RIVERSIDE, CALIFORNIA, FOR ON-SITE NO COST ADVERTISING.
WHEREAS, pursuant to Resolution No. 22322, adopted by the City Council of the City of Riverside (“City”), on January 10, 2012, the City agreed to serve as the Successor Agency (“Successor Agency”) to the Redevelopment Agency of the City of Riverside (“Redevelopment Agency”), commencing upon dissolution of the Redevelopment Agency on February 1, 2012, pursuant to Assembly Bill x1 26; and WHEREAS, Health and Safety Code Section 34177 (i) provides that a successor agency is required to continue to oversee the development of properties until the contracted work has been completed or the contractual obligations of the former redevelopment agency can be transferred to other parties; and WHEREAS, the Successor Agency currently owns a freeway electronic pylon sign (“Sign”), located at the University Village Shopping Center; and WHEREAS, pursuant to Assembly Bill 1484 and Health and Safety Code Section 34191.5(c)(2), the Successor Agency prepared a Long-Range Property Management Plan (“Plan”) dated February 25, 2014, for the disposition of the Redevelopment Agency properties, which included the Sign; and WHEREAS, on March 6, 2014, the State of California Department of Finance approved the Successor Agency’s Plan; and WHEREAS, the Plan sets forth the sale of the Sign located on privately owned property as described in Exhibit “A” attached hereto and incorporated herein by reference; and WHEREAS, UR Village LLC submitted an offer to purchase the Sign for on-site no cost advertising to tenants within the University Village Shopping Center; and WHEREAS, the Successor Agency desires to sell the Sign to UR Village LLC. ///
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NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Riverside, California, as the Successor Agency to the Redevelopment Agency of the City of Riverside, as follows:
Section 1. The above recitals are incorporated herein as if set forth herein in full.
Section 2. Pursuant to the Long-Range Property Management Plan, the Successor Agency hereby agrees to convey the Sign to UR Village LLC.
Section 3. It is in the best interest of the Successor Agency to enter into a Lease Termination and Sign Purchase Agreement with UR Village LLC, for the disposition of the Successor Agency-owned freeway electronic pylon sign, located at the University Village Shopping Center, for on-site no cost advertising to tenants within the University Village Shopping Center.
Section 4. That the City Manager, or his designee, acting on behalf of the Successor Agency, is authorized to execute the Lease Termination and Sign Purchase Agreement with UR Village LLC and any other documents as necessary to carry out the intent of this Resolution.
ADOPTED by the City Council as the Successor Agency, this _________ day of _____________, 2023. ___________________________
PATRICIA LOCK DAWSON
Mayor of the City of Riverside
Attest:
_____________________________
DONESIA GAUSE
City Clerk of the City of Riverside
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I, Donesia Gause, City Clerk of the City of Riverside, California, acting as the Secretary of the Successor Agency to the Redevelopment Agency of the City of Riverside, hereby certify that the foregoing resolution was duly and regularly adopted at a meeting of the City Council of said City, acting as the Secretary of the Successor Agency to the Redevelopment Agency of the City of Riverside, at its meeting held on the _________ day of _____________, 2023, by the following vote, to wit:
Ayes:
Noes:
Absent:
Abstain:
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Riverside, California, this ________ day of ______________, 2023. _________________________________
DONESIA GAUSE
City Clerk of the City
\\Rc-Citylaw\Cycom\WPDOCS\D004\P038\00750686.DOCX
CA: 22-2017.5 11/13/23
Exhibit “A”
Legal Description of the Premises
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