HomeMy Public PortalAbout85-126 (09-26-85)RESOLUTION N0. 85-126
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LYNGDOD DETERMINING THAT THE CONSTRUCTION OF CER-
TAIN ENTRY MARKER SIGNS BY THE CITY IS OF BENEFIT
TO THE AREA A PROJECT AREA AND THE SURROUNDING
NEIGHBORHOOD IN WHICH THE PROJECT IS LOCATED AND
DETERMINING THAT THERE ARE NO CYPHER REASONABLE
MEANS OF FINANCING SAID IMPROVIIKENTS AND APPROV-
ING A REIMBURSII"IENP AGREEMENP WITH THE LYNWOOD
REDEVELOPf'iENP AGENCY AND AUTHORIZING THE EXECU-
TION THERDOF.
4dHEREA.S, the Lynwood Redevelopment Agency ("Agency")-is hereby
authorized to carry out redevelopment activities in the Area A Project Area
("Project Area") pursuant to the Redevelopment Plan for the Project Area ap-
proved and adopted by this City Council by Ordinance No. 1111 adopted on De-
cember 16, 1980 (hereinafter the "Redevelopment Plan"); and
4~iEREAS, the City Council desires to construct entry marker signs
at the following entrances to the City: Imperial Highway (two-eastern and west-
ern entrances); Long Beach Boulevard (two-northern and southern entrances); At-
lantic Avenue (two-northern and southern entrances). (The project is herein-
after.: referred to as Entry Marker Project).
4~I-IF.f2EAS, the Agency desires to assist the City by paying all of
the costs of the construction of the Entry Market Project fran tax revenues re-
ceived by the Agency from the Project Area and allocated to the Agency pursuant
to Health and Safety Code Section 33670 ("Tax Increment"); and
4~7HEREAS, Health and Safety Code Section 33445 provides, in perti-
nent part, that a redevelopment agency may, with the consent of the legislative
body, pay all or part of the cost of the installation and construction of any
building, facility, structure or other improvement which is publicly owned,
either within or without the Project Area upon the determination by the legisla-
tive body that such buildings, facilities, structures, or other improvements are
of benefit to the Project Area or the immediate neighborhood in which the Project
Area is located and that no other reasonable means of financing such buildings,
facilities, structures or other improvements are available to the cc~tununity; and
WIIEREZIS, there has been presented to the Agency at this meeting
the form of a Reimbursement Agreement (the "Reimbursement Agreement") pursuant to
which the Agency agrees to reimburse the City for all costs incurred in connection
with the construction of the Entry Marker Project.
NOW, THERE['ORE, the City Council of the City of Lynwood does here-
by resolve as follows:
Section 1: The City Council hereby determines that the construction
and installation of the Entry Marker Project is of benefit to the Project Area and
the surrounding neighborhood in v3nich the said projects are located.
Section 2: The City Council further determines that no other rea-
sonable means of financing the construction and installation of the Entry Marker
Project is available except with Tax Increment.
Section 3: The City Council hereby approves the form of the Reim-
bursement Agreement presented to the City Council at this meeting and authorizes
and directs the Mayor and City Clerk to execute the Reimbursement Agreement on be-
half of the City.
PASSED, APPROVED and ADOPTED by the City Council of the
City of Lynwood at a regular meeting duly held on the 26th day of
September 1985.
ATTEST:
~~ ~~ I~
J HN BYORK, M or /
i tv of I_vnwnnri
~~-L~LCxGC~ ~~
ANDREA L. HOOPER, City Cler
City of Lynwood
APPROVED AS TO FORP1:
' `z--/~
CITY ATTORNEY
.,:'
STATE OF CALIFORPJIA )
ss.
COUNTY OF LOS ANGLEES )
REFER TO RE IMBURSF.MENT
COPdTRACT RESOLUTION
NO. LRA 85-31
APPROVED AS TO CONTENT:
PAT~~. IMPO UNA,
Comm Dev Direc or
I, the undersigned, City Clerk of the City of Lynwood do
hereby certify that the foregoing resolution was passed and adopted by
the City Council of the City of Lynwood at a regular meeting held on
the day of
1985.
AYES: COUNCILMEN HENNIfJG, P10RRIS, R061E, THOMPSON, BYORK
NOES: NONE
ABSENT: NOfJE
~~~J`!"Z~-tom (~i ~ /v'i~
City Clerk, City of Lynwood ''-
1