HomeMy Public PortalAbout99.006 LRARESOLUTION NO. 99.6
A RESOLUTION OF TFiE LYNWOOD REDEVELOPMENT AGENCY APPROVING A
90-DAY EXTENSION TO THE EXCLUSIVE NEGOTIATING AGREEMENT (ENA) WITH
PACIFIC RETAIL TRUST (DEVELOPER)- TO REDEVELOP LYNWOOD PLAZA, 3539-
3595 MARTIN LUTIiER KING, JR., BOULEVARD
WHEREAS, the Agency is implementing the Redevelopment Plan for Project Area
"A" in the City of Lynwood, State of Cal'rfomia, adopted by the City Ordinance No. 945 on
July 10, 1973, as amended; and
WHEREAS, the Agency approved an Exclusive Negotiating Agreement with the
Developer which has expired; and
WHEREAS, the Developer has been negotiating with good faith; and
WHEREAS, the proposed extension to the ENA will permit the Developer to obtain
financial commitments from outside publiGprivate 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:
tin 1. The Lynwood Redevelopment Agency, based on the aforementioned
findings and determinations hereby adopts this resolution and authorizes the Executive
Director to execute an extension to the Exclusive Negotiating Agreement with the
Developer.
ection .This resolution shall go into effect immediately upon its adoption.
PASSED, APPROVED, and ADOPTED this 19th day of January, 1999
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~~ ARDO SANCHEZ, CHAt MAN
ATTEST:
plr
Andrea L. Hooper, Secre ary
Ralp Da is, nterim
Executive Director
APPROVED AS TO FORM:
Agency ecial Counsel
H :word\redevel p\prten a2. stF.
APPROVED AS TO CONTENT:
Gary Chicot rector
Community Development
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
I, the undersigned Secretary of the Redevelopment Agency do hereby
certify that the foregoing resolution was passed and adopted by the Lynwood
Redevelopment Agency of the City of Lynwood at a regular meeting, held on the
19th day of January 1999.
AYES: MEMBER BYRD, REYES, RICHARDS, SANCHEZ
NOES: NONE
ABSENT: MEMBER REA
c, pC ~
Secretary
Lynwood Redevelopment Agency
STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
I, the undersigned Secretary of the Redevelopment Agency, do hereby
certify that the above and foregoing is a full, true and correct copy of Resolution
No. 99.6 on file in my office and that said resolution was adopted on the date and
by the vote therein stated.
Dated this 19th day of January 199 9
Secretary