HomeMy Public PortalAbout2002.013 LRARESOLUTION NO. LRA 2002.013
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY
RECEIVING PAYMENT OF $210,000.00 FROM K. V. MART AND
ACCEPTING THE CANCELLATION OF A PROMISSORY NOTE
AND AUTHOIZING STAFF TO DEPOSIT THE $210,000.00 INTO
ACCOUNT 18-5040 TO COMPLETE THE ACQUISITION OF THE
PROPERTY IN CONNECTION WITH THE MARKETPLACE AND
LONG BEACH/PLUMA PROJECTS.
WHEREAS, the Redevelopment Plan for Lynwood Project Area "A"
("Redevelopment Plan"), was duly approved and adopted on July 3, 1973 by
Ordinance No. 945 and subseq:.,~ently amended or. December 27, 1973 by
Ordinance No. 960, on August 19, 1975 by Ordinance No: 990, on June 1, 1976 by
Ordinance No. 1000, on December 7, 1976 by Ordinance No. 1010, on December
16, 1980 by Ordinance No. 1111, on July 19, 1988 by Ordinance No. 88-1308 and
on March 20, 2001 by Ordinance No. 1504; and
WHEREAS, the Lynwood Redevelopment Agency ("Agency") is engaged in
activities necessary to execute and implement the Redevelopment Plan for
Redevelopment Project Area "A" ("Redevelopment Project") in the City of Lynwood
and in order to do so the Agency has entered and proposes to enter into
development agreements which obligate the Agency to acquire real property; and
WHEREAS, the Agency issued bonds to assist with redevelopment activities
which includes property acquisition within Redevelopment Project Area "A"; and
NOW, THEREFORE, IT IS RESOLVED by the Lynwood Redevelopment
Agency as follows:
Section 1. The Agency hereby accepts payment of $210,000.00 to cancel
the Promissory ivote and reconvey the Deed of Trust.
Section 2. The Agency hereby authorizes staff to deposit the check in fund
18-5040.
S ction .The Executive Director of the Agency, or his designee, is hereby
authorized, on behalf of the Agency to execute all documentation necessary to
carry out this transaction.
APPROVED AND ADOPTED this 2nd day of April 2002.
-- ~~ ~
ARTURO REYES, C AIRMAN
,~ ATTEST:
~e
Andrea L. Hooper, Secretary Fau tin Gonzales, 1=~ ec ive Director
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APPROVED AS TO FORM:
Michael Montgomery; `Esq.
Agency Counsel
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
SS.
APPROVED AS TO CONTENT:
JCotais Mo-'ale~lnterim Director
Community 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 2nd day of April 2002.
AYES: MEMBER BYRD, RICHARDS, RODRIGUEZ, PEDROZA,°`REYES.
NOES: `'-"NONE
ABSENT: NONE
ABSTAIN: NONE
City Clerk, City of Lynwood
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
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. 2002.013 on file in my office and
that said resolution was adopted on the date and by the vote therein stated.
Dated this 2nd day of APri 1 ,2002.
~~ ~
City Clerk, City of Lynwood
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