HomeMy Public PortalAbout1999.127A (08-17-99)RESOLUTION NO. 99.127A
A RESOLUTION OF THE CITY COUNCIL OF THE CITY LYNWOOD APPROVING A
COOPERATION AGREEMENT BETWEEN.THE AGENCY AND THE CITY OF
LYNWOOD FOR A CITY LOAN TO THE AGENCY IN THE AMOUNT OF $1,300,000 IN
CONNECTION WITH THE OWNER PARTICIPATION AGREEMENT BETWEEN THE
AGENCY AND 3100 E. IMPERIAL HIGHWAY, LLC.
WHEREAS, the Redevelopment Plan for Lynwood Project Area "A"
("Redevelopment Plan"), was duly approved arid adopted on July 3,.1973 by Ordinance
No. 945 and subsequently amended on December 27, 1973 by Ordinance No. 960, on
August 19, 1975 by Ordinance No. 990, on June 1, 1976 by Ordinance No. 1000; on
December 7, 1976 by Ordinance No. 1010, on December 16, 1980 by Ordinance No.
1111, and on July 19, 1988 by Ordinance No. 88-1308; and
WHEREAS, the Lynwood Redevelopment Agency ("Agency") is engaged in
activities necessary to execute and implement the Redevelopment Plan for
- Redevelopment Project Area "A" ("Redevelopment Project") in the City of Lynwood and in
order to do so the Agency proposes to enter into a Owner Participation Agreement
- ("OPA") with 3100 E. Imperial Highway, .LLC . (°Developer"), which provides for the
development of Phase I of the Marketplace expansion project on developer and Agency-
. :owned property and in doing so necessitate the need for the Cooperation Agreement
between the Agency and City; and .
WHEREAS, the proposed OPA contains all the provisions, terms, conditions and
_ obligations required by state and local law; and
WHEREAS, it is necessary that the City loan the Agency $1,300,000 so that the
Agency meet its obligations under the proposed OPA with the Developer; and
WHEREAS, the Agency and City Council of the City of Lynwood have held a duly
noticed joint public hearing on the proposed OPA and related agreements;
WHEREAS, the Agency' and the City Council have duly considered the proposed
OPA and believe that development pursuant thereto is in the best interest of the City of
Lynwood and in furtherance of the goals and objectives of the Lynwood Redevelopment
Age, cy to reduce blight in the Project Area;
NOW, THEREFORE, IT IS RESOLVED by the City Council of the City of Lynwood
and the Lynwood Redevelopment Agency as follows:
Section 1. The Agency and City Council hereby find and determine that the
Cooperation Agreement is necessary for development of the Site pursuant to the OPA
and is in the best interest of the City of Lynwood and the health; safety, morals and
welfare of its residents, and in accord with the public purposes and provisions of.
applicable State and local law.
Section 2. The Agency and City Council hereby find and determine that the
development of the Site and approval of the Cooperation Agreement pursuant to the'
proposed OPA is necessary to effectuate the purpose of the Redevelopment Plan for the
` .Redevelopment Project.
Section 3. The Agency and the City Council hereby find and determine that the
development of the Site pursuant to the proposed OPA will be consistent with the
development permitted at that location by Lynwood's Zoning Ordinance.
Section 4. The Agency has held a joint, public hearing with the City Council and
has received, heard and considered all oral and written objections to the proposed OPA
and to the actions connected therewith, and hereby overrules all such oral and written
objections.
Section 5. The Executive Director of the Agency is hereby authorized to execute
the Cooperation Agreement.
Section 6. The Executive Director of the Agency, or his designee, is hereby
authorized, on behalf of the Agency and the City, to sign all documents necessary and
appropriate to cant' out and implement the OPA, and the Cooperation Agreement and to
administer and implement the Agency's obligations, responsibilities and duties to be
performed under the OPA and Cooperation Agreement.
APPROVED AND ADOPTED this 17'~" day of August, 1999.
r~
ter,
RICAR O SANCHEZ, MAY R
ATTEST:
Andrea L. Hooper, City Cler~
Ral a is, m
City Manager
APPROVED AS TO FORM:
,_..
Sha~Thever., ~ sq.
City Attorney
APPROVED AS TO CONTENT:
Gary D. C i ts, Director
Community Development
H: word/redevelpflmorales/mktcopa