CDC - 2002-23 - Reconstruction of Virginia Street0
RESOLUTION NO. 2002 -23
I]
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 RECONSTRUCTION OF VIRGINIA STREET
WEST OF DENTON AVENUE
WHEREAS, the improvement project will take place at a location within and adjacent to the
boundaries of Project Area No. 1 as depicted in Exhibit "A'; and
WHEREAS, the reconstruction of the Virginia Street west of Denton Avenue will serve to upgrade
City streets, improve public safety and reduce maintenance costs throughout the network of streets that
have been previously improved with financing from the Rosemead Redevelopment Agency; and
WHEREAS, the total Community Development Commission obligation for the project shall not
exceed One Hundred Forty -five Thousand Dollars ($145,000).
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 reconstruction of Virginia Street, 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 standard street improvements, including drainage and
street lighting, enhanced public safety and improved vehicular access along roadways within and
adjacent to Project Areas 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 12th day of November, 2002.
ATTEST:
COMMISSION'SECRETARY
Resolution No. 2002 -23 • •
page 2
I hereby certify that the foregoing Resolution No.
2002 -23 was duly and regularly adopted by the
Rosemead Community Development Commission_ata.
regular meeting held on the 12th day of November
2002, -by the following vote:
Yes: Clark, Vasquez, Taylor, Bruesch, Imperial
No: None, Absent: None, Abstain: None
City Clerk
0 0