HomeMy WebLinkAbout2006-85 - Sunset Ridge Park PurchaseRESOLUTION NO. 2006- ss
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF NEWPORT BEACH
AUTHORIZING THE PURCHASE OF SUNSET RIDGE PARK
AND AGREEING TO TERMS AND CONDITIONS ASSOCIATED WITH A
PURCHASE AND SALE AGREEMENT FOR THE PARK PROPERTY
WHEREAS, the City of Newport Beach and its residents have long envisioned the
15 acres of land at the comer of Superior Avenue and Coast Highway as a park, including
both active and passive components; and
WHEREAS, extensive dealings with the owner of the property, California
Department of Transportation ( "Caltrans "), have occurred in the nearly thirty years since
this property was declared surplus in 1976; and
WHEREAS, the City of Newport Beach was successful in sponsoring Senate Bill
124 (Johnson, 2001) which authorized the transfer of Sunset Ridge Park to the California
Department of Fish and Game from the California Department of Transportation
( "Caltrans ") for a purchase price of $1.3 million as long as the City entered into an
Operating Agreement with State Parks to operate the land as a park; and
WHEREAS, further discussions with Governor Schwarcenegger's administration,
the State Department of General Services, members of the Legislature, and others, have
led the City and Caltrans to propose a direct sale of the property to the City at a price of
$5,000,000; and
WHEREAS, the direct sale would be completed through a Purchase and Sale
Agreement and deed restrictions that would provide that:
The $5 million be paid in three installments and at 4.75% interest;
The property must be used as a park; and
If the City decides to sell the property, it must remit to Caltrans any amount over $5
million.
WHEREAS, this Purchase and Sale Agreement requires the approval of the
California Transportation Commission (CTC); now, therefore, be it:
RESOLVED by the City Council of the City of Newport Beach that it hereby:
1. Authorizes the purchase of the Sunset Ridge Park large parcel (15.05 acres)
from Caltrans at a price of $5 million paid in three installments at 4.75% interest;
and
2. Authorizes the Mayor of the City of Newport Beach to execute a Purchase and
Sale Agreement to this effect; and
3. Authorizes the City Manager to execute any related documents that might
accompany the Purchase and Sale Agreement in order to accomplish the sale
of the property; and
4. Agrees to a deed restriction or restrictions that limit the use of the property to
park or open space uses and that would require the City to remit to Caltrans any
sale revenues for the parcel over $5 million if the City later chooses to sell the
property for another use.
ADOPTED this 22nd day of August, 2006.
ATTEST:
IIv'v
Mayor
IIN III, ►L. /
City Clerk
STATE OF CALIFORNIA }
COUNTY OF ORANGE
CITY OF NEWPORT BEACH }
I, LaVonne M. Harkless, City Clerk of the City of Newport Beach, California, do
hereby certify that the whole number of members of the City Council is seven; that the foregoing
resolution, being Resolution No. 2006 -85 was duly and regularly introduced before and adopted by
the City Council of said City at a regular meeting of said Council, duly and regularly held on the
22nd day of August 2006, and that the same was so passed and adopted by the following vote, to wit:
Ayes: Curry, Selich, Rosansky, Ridgeway, Daigle, Nichols, Mayor Webb
Noes: None
Absent: None
Abstain: None
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the
official seal of said City this 23rd day of August 2006.
(Seal)
City Clerk
Newport Beach, California