As the future of Community Redevelopment Agencies (CRA) continues to be clouded in uncertainty, the City of Sierra Madre is considering passing a resolution that would protect it from loss of several properties, including City Hall, should the State decide to eliminate the CRAs.
At Tuesday night’s Council meeting, the Council will consider Joint Resolution No. 11-40/CRA 441. This resolution will transfer title to all properties currently owned by the CRA to City ownership. These seven properties are: Assessor Parcel No. 5767-021-900m 186 W. Highland (former Church property designated for low income development); Asessor Parcel No. 5767-039-900, a portion of the property at 70 – 84 Esperanza; Assessor Parcel No. 5767-023-901, a portion of the Mariposa parking lot; Assessor parcels 5768-020-905 and 5768-020-906, 242 W. Sierra Madre Blvd. (SMPD and SMFD); Assessor Parcel 5768-020-910, the City Hall parking lot; and Assessor Parcel No. 5768-020-909, 232 W. Sierra Madre Blvd., (City Hall).
According to the staff report on this agenda item, the CRA issued bonds in 1972 that were used to construct the City Hall and PD and FD buildings. According to staff, the CRA owned the buildings and the City leased them from the CRA. The leases were to terminate and the properties revert to City ownership when the bonds were paid off. That was never done, and the City Council, in a move that pre-dates the concern about CRA closure, instructed staff to prepare the necessary documents to transfer the title.
Now, due to concern that the State will eliminate CRAs, which may or may not require the transfer of all CRA assets to the State, the City has decided to take a cautious approach and transfer all properties owned by the CRA to City ownership.
You can view the entire staff document from the City Council member’s packets on this item, including the complete text of Joint Resolution No. 11-40/CRA 441, by clicking here.