RRA - 1995-19 - Payment for the FY 1995-96 Asphalt Concrete Overlay•
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RESOLUTION NO. 95-19
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
ROSEMEAD MAKING CERTAIN FINDINGS AND DETERMINATIONS
WITH RESPECT TO REDEVELOPMENT AGENCY PAYMENT FOR THE FY
1995-96 ASPHALT CONCRETE OVERLAY AND STREET LIGHTING
IMPROVEMENTS ON VARIOUS CITY STREETS
WHEREAS, the asphalt concrete overlay 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 Exhibit" 0', respectively; and
WHEREAS, the asphalt concrete overlay and street lighting improvements project to
be constructed in areas within and adjacent to Project Area No. 1 will improve the area
aesthetically and structurally; and
WHEREAS, the total Agency obligation for the project shall not exceed Four Hundred
Ninety Five Thousand Dollars ($495,000).
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 asphalt concrete
overlay and street lighting improvements project on various streets within and adjacent
to Project Area No. 1, as depicted in Exhibit "A" and Exhibit "H', respectively, is of
benefit to the Project Area. This finding is based on the fact that the street
improvements made at the various locations indicated on Exhibit "A" and Exhibit "H'
will serve to improve the aesthetic appearance and infrastructure 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 asphalt
concrete overlay and street lighting improvements will eliminate blighting conditions
within the project area by providing a "new" street appearance and improved lighting
on roadways within and adjacent to the project area, thus enhancing the value of
abutting properties.
Section 2. The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED this 8th day of August, 1995.
ATTEST:.'.-.
AGENCY SECRETARY
C AIRMA t
hereby certify that t le foregoing Resolution
No. 95-19 was duly and-regularly adopted by the
Rosemead Redevelopment Agency at a regular
meeting held on August 8, 1995 by the
following.vote:
Yes: Clark, Vasquez, Imperial, Taylor, Bruesch
No: None; Absent:- None; Abstain: None
Agency= S retary