Urban Renewal Agency Resolution No. 2014-10
(A Resolution of the Hood River Urban Renewal Agency Approving the
Purchase and Sale Agreement with NBW Hood River LLC
and Related Documents)
WHEREAS, the Hood River Waterfront Urban Renewal Plan (the Plan) was duly adopted by the Hood River City Council pursuant to Ordinance No. 1959 in 2008.
WHEREAS, Section V.B. of the Plan authorizes the Hood River Urban Renewal Agency (Agency) to acquire any interest in property within the Waterfront Urban Renewal District that the Agency finds is necessary to support private redevelopment.
WHEREAS, the Agency Board has been presented with a proposed form of Purchase and Sale Agreement wherein NBW Hood River LLC is the Seller and the Agency is the Purchaser for consideration and approval. Copies of the proposed form of Purchase and Sale Agreement and Easement and Equitable Servitudes referenced therein are attached to this Resolution and incorporated herein by reference.
WHEREAS, the Agency Board has been presented with proposed form of Escrow Instructions which, upon execution and submittal to the Escrow Agent, will have the effect of terminating pending land use appeals relating to the development of Grantor’s Upland Property.
After due consideration of the Plan, Purchase and Sale Agreement and Easement and Equitable Servitudes, the Agency Board finds that the Agency’s purchase of the Property according to the terms and conditions of the Purchase and Sale Agreement are consistent with the Plan because such purchase will:
1. Protect areas of existing bio-habitat and recreate habitat where it has been destroyed;
2. Ensure that upland development does not degrade habitat conditions in the Columbia River;
3. Eventually may provide for appropriate and adequate landscape planting along the water’s edge;
4. Allow for habitat enhancements in Nichols Basin; and
5. Facilitate comprehensive trail connections along the Columbia River Waterfront including use of the existing pedestrian bridge over the Hood River.
The Agency Board also determines that the implementation of the Escrow Instructions in conjunction with the acquisition of the Property by the Agency will result in the termination of pending land use appeals relating to Grantor’s Upland Property and thus the Agency Board finds that acquisition of the Property by the Agency is necessary to support private redevelopment of Grantor’s Upland Property.
Now, therefore, the Board of the Hood River Urban Renewal Agency RESOLVES as follows:
The Escrow Instructions and Purchase and Sale Agreement including the Easement and Equitable Servitudes are hereby approved and the Agency Administrator is authorized to sign the Purchase and Sale Agreement and Escrow Instructions on behalf of the Agency.
Approved by the Board of the Agency on the 22 day of September, 2014.
Hood River Urban Renewal Agency
Hoby Streich, Chair
Steve Wheeler, Agency Administrator