CDC - Item 2 - Rosemead Redevelopment CommissionRESOLUTION NO. 2005 -16
A RESOLUTION OF THE ROSEMEAD REDEVELOMENT COMMISSION
MAKING CERTAIN FINDINGS AND DETERMINATIONS WITH RESPECT TO
COMMUNITY DEVELOPMENT COMMISSION PAYMENT FOR COSTS
ASSOCIATED WITH THE INSTALLATION OF TRAFFIC SIGNAL
IMPROVEMENTS AT DEL MAR AVENUE /HIGHCLIFF STREET AND DEL
MAR AVENUE /GRAVES 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 Del Mar Avenue /Highcliff Street and installation of
left -turn phasing at Del Mar Avenue /Graves 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 Two Hundred Ninety Thousand Dollars ($290,000).
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 Del Mar Avenue /Highcliff Street and installation of left -turn
phasing at Del Mar Avenue /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 11th day of October, 2005.
CHAIRMAN
ATTEST:
COMMISSION SECRETARY
COMMISSION AGENDA
OCT 112005
ITEM No.