HomeMy Public PortalAbout03. Resolution RA-2009-07INTHEREDEVELOPMENTAGENCYOFTHECITYOFLIVERMORESTATEOFCALIFORNIAARESOLUTIONAUTHORIZINGEXECUTIONOFACOOPERATIONAGREEMENTWITHTHECITYOFLIVERMORETOACCEPTALOANOFUPTO780000INHOUSINGTRUSTFUNDSFUND611FORTHEPURCHASEOFREALPROPERTYANDTHERELOCATIONBENEFITSOFTHEBUSINESSMMCROSSFITTRAININGLOCATEDAT2121RAILROADANDEXECUTINGAPURCHASEANDSALEAGREEMENTANDFULLSETTLEMENTANDRELEASEINTOTHEAMOUNT768000WITHMAGDALENAHARRISMICHAELHARRISANDMICHAELLAMPLEYRELATEDTOTHEACQUISITIONOFPROPERTYLOCATEDAT2121RAILROADAVENUEESCROWCOSTSOPERATINGCOSTSANDRELOCATIONCOSTSASSOCIATEDWITHMMCROSSFITTRAININGItisdesirablefortheRedevelopmentAgencyoftheCityofLivermoreAgencytopurchasetherealpropertylocatedat2121RailroadAvenueAPN098028900202fromMagdalenaandMichaelHarrisandproviderelocationbenefitstoMichaelHarrisandMichaelLampleyownersofMMCrossfitTrainingthebusinesslocatedat2121Railroadintheamountof768000andtoborrowHousingTrustFundsF611inanamountupto780000fromtheCityforthatpurposeincludingtheadministrativeandtransactionalcostsassociatedwiththepurchaseandsettlementITISRESOLVEDbytheRedevelopmentAgencyoftheCityofLivermorethattheExecutiveDirectoronbehalfoftheRedevelopmentAgencyisauthorizedtoenterintotheCooperationAgreementwiththeCitypresentedwiththestaffreporttoborrowupto780000inHousingTrustfundsforthepurchase2121RailroadAvenueandtheassociatedrelocationbenefitsandservicesforthebusinessMMCrossfitTrainingTheamountsloanedshallaccrueinterestattheLocalAgencyInvestmentFundratefromthedatedispersedandshallberepaidin10annualstatementscommencingFY20132014asstatedintheagreementBEITFURTHERRESOLVEDbytheRedevelopmentAgencyoftheCityofLivermorethattheExecutiveDirectoronbehalfoftheRedevelopmentAgencyisauthorizedtoExecutethePurchaseandSaleAgreementandFullSettlementandReleasewithMagdalenaHarrisMichaelHarrisandMichaelLampleyrelatedtotheacquisitionofpropertylocatedat2121RailroadAvenueandtheassociatedrelocationbenefitsandservicesofthebusinessMMCrossfitTrainingintheamountof768000andsignallrelateddocumentsOnthemotionofViceChairMarchandsecondedbyAgencymemberHornertheforegoingresolutionwaspassedandadoptedonthe13thdayofApril2009bythefollowingvoteAYESAgencymembersHornerLeiderWilliamsViceChairMarchandChairpersonKamenaNOESNoneABSENTNoneABSTAINNoneATTESTINTERIMSECRETARYSUSANGIBBSDATEApril142009APPROVEDASTOFORMASSISTANTGENERALCOUNSELJASONALCALARESOLUTIONNORA200907