RRA - 1995-08 - Payment for the Highcliff Street ReconstructionRESOLUTION NO. 95-08
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
ROSEMEAD MAKING CERTAIN FINDINGS AND DETERMINATIONS
WITH RESPECT TO REDEVELOPMENT AGENCY PAYMENT FOR THE
HIGHCLIFF STREET RECONSTRUCTION PROJECT
WHEREAS, the Highcliff Street reconstruction project will take place adjacent to the
boundaries of Project Area No. 1 as depicted in Exhibit "A"; and
WHEREAS, the Highcliff Street reconstruction project to be constructed 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 Five Hundred Fifty
Thousand Dollars ($550,000).
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 Highcliff Street
reconstruction project 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 street improvements
made as indicated on Exhibit "A" will serve to improve the aesthetic appearance and
infrastructure 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 street
improvements will eliminate blighting conditions within the project area by providing a
"new" street appearance on roadways 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 I
ATTEST; I hereby certify that the foregoing Resolution
No. 95-08 was duly and regularly adoptedby the
_ Rosemead Redevelopment Agency at a regular meeting
eld on the 28th day of March, 1995, by the
:AGENCY SE RETARY following vote:
Yes: Vasquez, Clark, Bruesch, Imperial
No: Taylor; Absent: None; Abstain: None
Agency Secre ary <
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Exhibit "A"
Project Are