HomeMy Public PortalAbout99.014 LRALRA RESOLUTION NO. 99.14
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY
APPROVING A LEASE AGREEMENT BETWEEN 3100 E. IMPERIAL
HIGHWAY, LLC, (THE "DEVELOPER") AND THE AGENCY FOR THE
PROPERTY LOCATED AT 3100A E. IMPERIAL HIGHWAY
WHEREAS, the Lynwood Redevelopment Agency (the "Agency") is a
redevelopment agency duly formed organized and existing pursuant to and under
the provisions of the State Community Redevelopment Law (the "Law") (codified
as California Health and Safety Code Section 33000 et sea.); and
WHEREAS, the Agency is engaged in carrying out a redevelopment
project(s) in the project area; and
WHEREAS, the Developer owns the property located at 3100A E.
Imperial Highway (the "Property") and said property is approximately 18,415 sq.
ft.; and
WHEREAS, the Developer proposes to lease the building to the Agency
as per the attached lease referred to as exhibit "A"; and
WHEREAS, the Agency deems it necessary to control the Property
through a lease arrangement to ensure that the approved concept for the
marketplace expansion is maintained; and
WHEREAS, the revenue or rents from the lease will allow the Developer
to cover some of the predevelopment costs associated with the marketplace
expansion.
NOW, THEREFORE, IT IS RESOLVED by the Lynwood Redevelopment
Agency as follows:
Section1. The Agency hereby finds and determines that the lease is
necessary to carry out the proposed project.
Section 2. The Agency hereby authorizes the Executive Director to
execute the lease between the Agency and 3100 E. Imperial Highway, LLC, as
provided in the attached lease.
Section 3. This resolution shall go into effect upon its adoption.
PASSED, APPROVED and ADOPTED this,16th day of March, 1999
RICARD~O SANCHEZ, CHAT
ATTEST:
Off'
Andrea L. Hooper, Secretary
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Ralp Davis, Interim
Executive Director
APPROV D AS TO FORM:
gency Spec' ounsel
APPROV-~D AS TO
Gary D. Cliic s, Director
Communit evelopment
ENT:
H: word/red eve I p/Imora I es/mndstrat
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 or. the
16th day of March ,
AYES: MEMBER BYRD, REA, REYES, RICHARDS, SANCHEZ
NOES: NONE
ABSENT: NONE
v o~ , Ql' ~~ ~/
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. 99.14 on file in my office and that said resolution was adopted on the date and
by the vote therein stated.
Dated this 16th day of March 1999.
Secretary