CDC - Item 2 - Resolution No. 2005-20�J
RESOLUTION NO. 2005 -20
A RESOLUTION OF THE ROSEMEAD COMMUNITY DEVELOPMENT
COMMISSION 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 Rosemead Community Development Commission resolves as follows:
Section 1. The Rosemead Community Development Commission finds, determines, and
declares:
(a)The payment by the Rosemead Community Development Commission for costs associated
with the installation of a traffic signal at Jackson Avenue and Graves 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 Commission Secretary shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED this 22nd day of November, 2005.
ATTEST:
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COMMISSION SECRETARY
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COMMISSION AGENDA
NOV 2 2 2005
ITEM No.
0
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF ROSEMEAD
SS.
L
I, Nina Castruita, City Clerk of the City of Rosemead, do hereby certify that the
foregoing Resolution No. 2005 -20 being:
A RESOLUTION OF THE ROSEMEAD COMMUNITY DEVELOPMENT
COMMISSION 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.
was duly and regularly approved and adopted by the Rosemead Community
Development Commission on the 22nd of November 2005, by the following vote
to wit:
YES: CLARK, IMPERIAL, NUNEZ, TAYLOR, TRAN
NO: NONE
ABSENT: NONE
ABSTAIN: NONE
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Nina Castruita
Secretary