HomeMy Public PortalAbout84-013 - LRA (05-01-84)a, .4J
RESOLUTION NO. 84 -13
RESOLUTION OF THE LYNWOOD REDEVELOPMENT
AGENCY APPROVING THE EXECUTION OF AN
AMENDMENT TO THAT OWNER PARTICIPATION
AGREEMENT BETWEEN THE LYNWOOD REDEVELOP-
MENT AGENCY AND ECONOMIC RESOURCES
CORPORATION
WHEREAS, the Lynwood Redevelopment Agency (the
"Agency ") and Economic Resources Corporation ( "ERC ") entered
into a certain Owner Participation Agreement, dated as of
February 19, 1982 (the "OPA ") for the development of certain
private and public improvements within Alameda Redevelopment
Project Area; and
WHEREAS, ERC and the Agency are proceeding to perform
their respective obligations pursuant to the OPA; and
WHEREAS, ERC and the Agency desire to approve an
amendment to the OPA (in the form attached hereto as Attachment
"A" incorporated herein, which constitutes the "Amendment ") to
modify certain terms of the OPA; and
WHEREAS, the approval - and' - execution - of the Amendment
will facilitate the orderly completion of improvements by ERC;
NOW, THEREFORE, the Lynwood Redevelopment Agency does
resolve as follows:
1. The Agency funds and determines that: (a) the
approval of the Amendment will promote the objectives of the
Redevelopment Plan for the Alameda Redevelopment Project Area
and promote the health, safety and welfare of the citizens of
the City of Lynwood; and (b) the Amendment is consistent with
the orderly development of the improvements to be provided by
ERC pursuant to the OPA.
2. The Lynwood Redevelopment Agency approves the
Amendment in the form of Attachment A and authorizes and
directs the Chairman and the Executive Director to execute that
Amendment and such other documents as may be determined by the
City Attorney to be necessary or appropriate to effectuate the
OPA as now amended.
LYNWOOD REDEVELOPMENT AGENCY
By
DATED:
ATTEST:
Secretary
04/09/84
7429P/2307/01 -2-
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood
Redevelopment Agency, do hereby certify that the above
and foregoing resolution was duly adopted by the said
Agency at a regular meeting thereof held
in the City Hall of the City of Lynwood on the 1ST
day of MAY 1984, and passed by the following
vote:
AYES:
Agency members
NOES:
Agency members
ABSENT:
Agency members
ABSTAINED:
Agency members
BYORK, THOMP,SON, MORRIS
NONE
NONE
HENNING, ROWE
Secretary '
-- L REDEVELOPMENT' "'AGENCY
vJ f
i�
FIRST AMENDMENT TO
OWNER PARTICIPATION AGREEMENT
By and Between
THE LYNWOOD REDEVELOPMENT AGENCY
and
ECONOMIC RESOURCES CORPORATION
The Lynwood Redevelopment Agency (the "Agency ") and
Economic Resources Corporation, a California nonprofit
corporation (the "Participant ") entered into an Owner
Participation Agreement, dated as of February 19, 1982 (the
"OPA "), for the development of private facilities and public
improvements, and the purchase by the Agency of public
improvements, all within the Alameda Redevelopment Project Area
(the "Project Area "). The Agency and the Participant mutually
desire to enter into this Amendment to the OPA (the First
"Amendment "), and to amend the OPA as follows:
1. At page 6, line 4 of first paragraph (part of
Section III B) delete "1984" and insert "1985 ".
2. Except as expressly provided to the contrary
herein, all provisions of the OPA shall remain in full force
and effect.
This First Amendment and the provisions of the OPA
which remain in effect collectively constitute the "Amended
OPA." The Amended OPA integrates all of the terms and
conditions of agreement between the parties, and supersedes all
negotiations or previous agreements between the parties with
respect to the subject matter hereof.
Each of the parties hereto warrants and represents to
the other that it has the full power and authority to enter
into and execute this First Amendment, that all authorizations
and approvals required to make this First Amendment binding
upon such party have been obtained, and that the person or
persons executing this First Amendment on behalf of such
parties has been fully authorized to do so.
The effective date of this Amendment shall be the date
of execution by the Agency.
LYNWOOD REDEVELOPMENT AGENCY
1984 By:
CHAIRMAN
ATTEST:
J 4c
Secretary
ECONOMIC RESOURCES CORPORATION,
a California Nonprofit
corporation
By:
Channing D. Johnson,
President
i
04/09/84
7419 P/2307/01
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