CC - Item 4A - 2005-40 CDC Payment for Costs Installation of Traffic Signal ImprovementsLl
RESOLUTION NO. 2005 -40
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD
MAKING CERTAIN FINDINGS AND DETERMINATIONS WITH RESPECT TO
COMMUNITY DEVELOPMENT COMMISSION PAYMENT FOR COSTS
ASSOCIATED WITH THE INSTALLATION OF TRAFFIC SIGNAL
IMPROVEMENTS AT GRAVES AVENUE AND JACKSON AVENUE
WHEREAS, the improvement project will take place at a location adjacent to the boundaries of
Project Area No. 1 as depicted in Exhibit "A "; and
WHEREAS, the installation of a traffic signal at Graves Avenue and Jackson Avenue will serve to
upgrade City streets, improve public safety and vehicular access along roadways within and adjacent to
Project Area No. 1 that have been previously improved with financing from the Rosemead Community
Development Commission; and
WHEREAS, the total Community Development Commission obligation for the project shall not
exceed One Hundred Eighty Seven Thousand Five Hundred Dollars ($187,500).
NOW, THEREFORE, the City Council of the City of Rosemead resolves as follows:
Section 1. The City Council of the City of Rosemead finds, determines, and declares:
(a)The payment by the Rosemead Community Development Commission for costs associated
with the installation of a traffic signal at Graves Avenue and Jackson Avenue, as depicted in
Exhibit "A ", is of benefit to the Project Area. This finding is based on the fact that the
improvements will serve to improve the infrastructure and eliminate blighting conditions by
providing enhanced public safety and improved vehicular access along roadways within and
adjacent to Project Area No. 1, thus enhancing the value of abutting properties.
(b)That there are no other reasonable means of financing such buildings, facilities, structures or
other improvements available to the community. Although the City has a General Fund surplus,
the uncertainty of continuing municipal revenue sources militates against the depletion of the
existing reserves until such time as revenue sources and major required expenditures are
stabilized.
Section 2. The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED this 22nd day of November, 2005.
MAYOR
ATTEST:
CITY CLERK
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