HomeMy Public PortalAbout99.022 LRA/~ '~ .
RESOLUTION NO. 99.22
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY APPROVING THE
EXECUTION OF AN EXCLUSIVE NEGOTIATING AGREEMENT ("ENA") WITH GRAE
VENTURES, LLC ("DEVELOPER") TO DEVELOP PHASE II OF VALU PLUS
LOCATED WITHIN REDEVELOPMENT PROJECT AREA "A" AT THE NORTHWEST
CORNER OF ATLANTIC AVENUE AND IMPERIAL HIGHWAY
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 F_NA will _p.ermit__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 4th day of May, 1999
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RIC,ARDO SANCHEZ, CHAI AN
ATTEST:
~~~~~
~~
Andrea L. Hooper, Secret ry
Ralph W. Davis, n erim
Executive Director
APPROVED AS TO FORM:
G~C~
A ncy Special ounsel
APPROVED AS TO CONTENT:
-~
ary Chicot , irector
Community evelopment
H:word\redevelp\graeena.
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned Secretary of the Lynwood Redevelopment Agency (LRA) 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
4th day of May , 19, 99_, and passed by the following vote: _
AYES: COUNCILMEMBER BYRD, RICHARDS, SANCHEZ
NOES: COUNCILMEMBER REA, REYES
ABSENT:
SECRETARY
LYNWOOD REDEVELOPMENT AGENCY
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 is a full, true and correct copy of Resolution No. LRA
99.22 on file in my office and that said resolution was adopted on the date and b}~
the vote therein stated.
DATED this 4th day of May , 1959
SECRETARY
LYNWOOD REDEVELOPMENT AGENCY