HomeMy Public PortalAbout2002.005 LRARESOLUTION NO. 2002.005
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY APPROVING THE
EXECUTION OF AN EXCLUSIVE NEGOTIATING AGREEMENT ("ENA") WITH
L.A.R.D INVESTMENTS ("DEVELOPER") TO DEVELOP A RETAIL CENTER WITHIN
REDEVELOPMENT PROJECT AREA "A" AT THE NORTHWEST CORNER OF
BULLIS ROAD AND MARTIN LUTHER KING, JR., BOULEVARD
WHEREAS, the Agency is implementing the Redevelopment Plan for Project Area
"A" in the City of Lynwood, State of California, adopted by the City Ordinance No. 945 on
July 10, 1973, as amended; and
WHEREAS, the proposed ENA will permit the Developer to obtain financial
commitments from outside public/private resources for the proposed project; and
WHEREAS, the pursuit of the proposed project will assist in the elimination of
blight within the Project Area; and
WHEREAS, the proposed project will be in furtherance of the implementation of
the Redevelopment Plan; and
WHEREAS, the proposed project will provide tax increment and generate sales
tax; and
WHEREAS, the site will be developed pursuant to the General Plan and Municipal
Code requirements; and
NOW, THEREFORE, BE IT RESOLVED by the Lynwood Redevelopment Agency
that:
Section 1. The Lynwood Redevelopment Agency, based on the aforementioned
findings and determinations hereby adopts this resolution and authorizes the Executive
Director to execute an Exclusive Negotiating Agreement with the Developer.
Section 2. This resolution shall go into effect immediately upon its adoption.
PASSED, APPROVED, and ADOPTED this 5T" day of February, 2002
~~~~ ~~~
ARTURO REYES, HAIRMAN
ATTEST:
Andrea L. Hooper, Secretary
~ ~~ .__,~
~` r..
Faustin Gonzales,
Executive Director
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APPROVED AS TO FORM:
~`
Michael Montgom ,
Agency Sp~i Counsel
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
APPROVED AS TO CONTENT:
,t''fouis Mor es, Deputy Director
Communi Development
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that
the foregoing Resolution was passed and adopted by the City Council of the City of
Lynwood at a regular meeting held on the 5`h day of February, 2002.
AYES: MEMBER'BYRD, RICHARDS, RODRIGUEZ, PEDROZA, REYES
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
City Clerk, City of Lynwood
I, the undersigned City Clerk of the City of Lynwood, and Clerk of the Lynwood City
Council of said City, do hereby certify that the above and foregoing is a full, true and
correct copy of Resolution No. 2002.005 on file in my office and that said resolution
was adopted on the date and by the vote therein stated.
Dated this 5`h day of February, 2002.
City Clerk, City of Lynwood
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