According to the city – During their meeting of Monday, August 13, the City Council of the City of Culver City and the Successor Agency to the Culver City Redevelopment Agency will jointly consider the following item:
That the Successor Agency to the Culver City Redevelopment Agency (Successor Agency) Adopt a Resolution that 1) Approves the terms of the Disposition and Development Agreement (DDA) Entered into by and Between the City of Culver City (City) and Combined/Hudson 9300 Culver LLC (Combined); and 2) Approves the Sale and Conveyance of Real Property Located at 9300 Culver Boulevard (Parcel B) from the City to Combined; and 3) Approves the Transfer of Residual Land Proceeds from the Parcel B Land Sale to the Successor Agency; and 4) Approves the City’s Retention and Ownership of Certain Land for Public Parking, the Town Plaza Expansion and for Other Public Purposes and of Certain Public Improvements Constructed as part of the Project; and 5) Acknowledges and Agrees that the DDA Constitutes the Existence of an Enforceable Obligation Pursuant to Part 1.8 and Part 1.85 of Division 24 of the Health and Safety Code for the Purposes of, Without Limitation, the Disposition of Assets Previously Owned by the Former Agency. That the City Council Adopt a Resolution Approving, Subject to Conditions Precedent, the Transfer of Parcel B’s Residual Land Sale Proceeds from the City to the Successor Agency.
The staff report for this item will be posted on the City’s website and may be viewed by going to: www.culvercity.org/agendas
The City Council/Successor Agency meeting starts at 7:00 p.m. and will be held at City Hall in the Mike Balkman Council Chambers located at 9770 Culver Boulevard, Culver City, CA.
All are invited to attend the meeting.