HomeMy Public PortalAbout99.019 LRALRA RESOLUTION NO. 99.19
A RESOLUTION OF THE LYNWOOD REDEVELOPMENT AGENCY
APPROVING APRE-PAYMENT ON THE 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 Agency approved a lease agreement between the Agency
("Lessee") and the Developer ("Lessor") and forwarded an intitial pre-payment for
the first twelve months of the lease; and
WHEREAS, the Agency deems it necessary to control the Property
through a lease and to forward an additional eighteen months of rent of rent in a
for of apre-payment; 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 and
additional pre-payment 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 19th day of April, 1999
r
M rj
RIC D ` SANCHEZ, CHA MAN
ATTEST:
Andrea L. Hooper, Secretary
Ralp avis, n erim
Executive Director
APPROVED AS TO FORM:
Ag c pecial ~ un
H:word/redevel p/I morales/m ndstra2
APPROy~Q AS TO CONTENT:
Gary D. Chic ts, irector
Community elopment
Section 1. That the City Clerk shall certify to the adoption of this resolution and
shall deliver a certified copy thereof in his own records.
APPROVED and ADOPTED this 19th day of April, 1999.
ATTEST:
~-
ANDREA L. HOOPER, City Clerk
I certify that the above and foregoing resolution was duly adopted by the City of
Lynwood at a regular meeting thereof held on the 6th day of April, 1999 and passed
by the following vote:
AYES: DIRECTOR BYRD, REYES, RICHARDS, SANCHEZ
NOES: NONE
ABSENT: DIRECTOR REA
~~
City Clerk
resolutionrrescbp