RRA - 1995-24 - Payment for Underground Utility Distiricts and Street lighting Improvements on Del Mar. 0 0
RESOLUTION NO. 95-24
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
ROSEMEAD MAKING CERTAIN FINDINGS AND DETERMINATIONS
WITH RESPECT TO REDEVELOPMENT AGENCY PAYMENT FOR
UNDERGROUND UTILITY DISTRICTS AND STREET LIGHTING
IMPROVEMENTS ON DEL MAR AVENUE, WALNUT GROVE AVENUE,
AND SAN GABRIEL BOULEVARD
WHEREAS, the Underground Utility Districts and street lighting improvements project will
take place at locations within and adjacent to the boundaries of Project Area No. 1 as depicted in
Exhibit "A"; and
WHEREAS, the Underground Utility Districts and street lighting improvements project
to be constructed in areas within and adjacent to Project Area No. 1 will improve the area
aesthetically and enhance safety; and
WHEREAS, the total Agency obligation for the project shall not exceed Five Million Five
Hundred Thousand Dollars ($5,500,000).
NOW, THEREFORE, the Rosemead Redevelopment Agency resolves as follows:
Section 1. The Rosemead Redevelopment Agency finds, determines, and declares:
(a) The payment by the Rosemead Redevelopment Agency for the Underground Utility
Districts and street lighting improvements project on Del Mar Avenue, Walnut Grove
Avenue, and San Gabriel Boulevard within and adjacent to Project Area No. 1, as depicted
in Exhibit "A" is of benefit to the Project Area. This finding is based on the fact that the
utility undergrounding and street lighting improvements made at the various locations
indicated on Exhibit "A" will serve to improve the aesthetic appearance and enhance safety
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 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.
(c) The payment by the Rosemead Redevelopment Agency for the specified utility
undergrounding and street lighting improvements will eliminate blighting conditions within
the project area by enhancing safety through the undergrounding of the existing overhead
utility facilities and providing improved lighting on roadways within and adjacent to the
project area, thus enhancing the value of abutting properties.
Section 2. The Agency Secretary shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED this 26th day of September, 1995.
H AN
ATTEST:
I hereby certify that the foregoing Resolution
No. 95-24 was duly and regularly adopted by
the Rosemead Redevelopment Agency at a regular.
-AGENCY:SECRETARY neeting:held on September 26';,1995, by the
following vote:
Yes: Bruesch, Clark, Vasquez, Imperial
No: Iayl.orj
Absent: None
Abtain: None
ACENC:"SEC BTARY`
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