HomeMy WebLinkAboutResolution No. 4820 RESOLUTION NO. 4820
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
APPROVING A PARTICIPATION AGREEMENT BY AND BETWEEN THE
COMMUNITY DEVELOPMENT COMMISSION AND
ROBERT J. AND FRANCES E. FLYNN;
DETERMINING THAT THE CONSTRUCTION OF CERTAIN
PUBLIC IMPROVEMENTS ON OR ADJACENT TO THE SITE
IS OF BENEFIT TO REDEVELOPMENT PROJECT AND THE
IMMEDIATE NEIGHBORHOOD IN WHICH THE PROJECT IS LOCATED;
DETERMINING THAT THERE ARE NO OTHER REASONABLE MEANS
OF FINANCING SAID IMPROVEMENTS; AND AUTHORIZING THE
EXECUTION AND DELIVERY OF SAID PARTICIPATION AGREEMENT.
WHEREAS, the Community Development Commission of the City of Downey (the
"Commission ") is authorized to carry out the redevelopment of the Downey
Redevelopment Project Area ( "Project Area "); and
WHEREAS, the Redevelopment Plan for the Project Area authorizes and
directs the Commission to pay all or part of the value of the construction of
certain public improvements; and
WHEREAS, the Commission desires to enter into a Participation Agreement
( "PA ") with Robert J. and Frances E. Flynn (the "Participants "), substantially
in the form presented to the Commission at the meeting at which this
resolution was adopted; and
WHEREAS, pursuant to the PA, the Commission shall assume a certain
portion of the obligation for the cost to construct certain public
improvements necessary to serve the Project ( "Public Improvements "); and
WHEREAS, California Health and Safety Code Section 33445 provides that a
redevelopment agency may, with the consent of the legislative body, pay all or
part of the value of public buildings, facilities, structures or other
improvements upon a finding that such public improvements are of benefit to
the project area or the immediate neighborhood in which the project is located
and that there are no other reasonable means of financing such public
improvements available to the community.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1: The City Council hereby approves the form of the PA presented
to the City Council at the meeting at which this resolution was adopted.
SECTION 2: The City Council hereby determines that the acquisition,
construction and installation of the Public Improvements is of benefit to the
Project Area and the surrounding neighborhood in which the project is located.
SECTION 3: The City Council hereby determines that it is appropriate to
construct and install or cause the construction and installation of the Public
Improvements and that there are no other reasonable means of financing the
Public Improvements.
PASSED, APPROVED AND ADOPTED this 28th day of October , 1986.
:Mayor :dames S. Santa gelo
ATTEST:
;07 N
City Clerk
Resolution No. 482U
Page 2
I HEREBY CERTIFY that the foregoing Resolution was adopted by the City
Council of the City of Downey at a regular meeting thereof held on
the 28th day of October 1986, by the following vote:
AYES: b Council Members: Boggs, Cormack, Barb, Paul, Santangelo
NOES: U Council Members: None
ABSENT: 0 Council Members: None
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City Clerk