CC - Item 3C - Resolution 1991-10 - Payment of Flood Control Channel Improvements - Internal Files Box 069RESOLUTION NO. 91-10
A RESOLUTION OF THE ROSEMEAD CITY COUNCIL OF
THE CITY OF ROSEMEAD MAKING CERTAIN FINDINGS AND
DETERMINATION WITH RESPECT TO REDEVELOPMENT AGENCY
PAYMENT FOR FLOOD CONTROL CHANNEL IMPROVEMENTS AT THE
SOUTHWEST CORNER OF GARVEY AVENUE
AND SAN GABRIEL BOULEVARD
WHEREAS, the proposed flood control channel improvements will
take place at a location within the boundaries of Project Area No. 1,
as depicted in "Exhibit All, and
WHEREAS, the flood control channel improvements to be made
within Project Area No. 1 will enable the development of the property
at 8150 Garvey Avenue to benefit economic growth, provide additional
employment for.residents in the area, enable the Agency to have
control over the extact tenant to go into the property that will be
developed over the flood control channel pursuant to the conditions
of the participation agreement between the Rosemead Redevelopment
Agency and Diamond Square; and
WHEREAS, the total Agency obligation for this project shall not
exceed Two Hundred Fifty Thousand Dollars ($250,000).
NOW, THEREFORE, the Rosemead City Council resolves as follows:
Section 1. The City Council finds, determines and declares:
(a). That the payment by the Rosemead Redevelopment Agency for
the costs of construction of the improvements of the
flood control channel, as depicted in "Exhibit All, is of
benefit to Project Area No. 1. This finding is based on
the fact that the improvements described above will
improve the economic development of the area within and
adjacent to Project Area No. 1.
(b). That there are no other reasonable means of financing
such buildings, facilities, structures, or other
improvements available to the community. Although the
City maintains a General Fund surplus, the uncertainty of
continuing municipal revenue sources militates against
the depletion of existing reserves until such time as
revenue sources and major required expenditures are
stabilized.
Section 2. The Agency is authorized to enter into an Agreement'
with Diamond Square
` Section 3. The city clerk shall certify to the'adoption of this
Resolution.
PASSED, APPROVED and ADOPTED this day of , 1991.
MAYOR
1
ATTEST:
COUNCIL AGENDA
MAR 2 6 1991
ITEM No. e-
CITY CLERK