RRA - Item 2A - Findings and Determinatopms with Respect to Redevelopment Payments for Concrete Repairs RESOLUTION NO. 99-02
A RESOLUTION OF THE ROSEMEAD REDEVELOPMENT
AGENCY MAKING CERTAIN FINDINGS AND
DETERMINATIONS WITH RESPECTTO REDEVELOPMENT
AGENCY PAYMENT FOR CONCRETE REPAIRS ON
VARIOUS CITY STREETS (FY 1998-99)
WHEREAS, the concrete repair 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 concrete repair 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 Seventy-
Five Thousand Dollars ($75,000).
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 concrete
repair project on various streets within and adjacent to Project Area No. 1,
as depicted in Exhibit "A", is of benefit to the Project Area. This funding is
based on the fact that the concrete repair improvements made at the various
locations indicated in Exhibit "A" 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
concrete improvements will eliminate blighting conditions within the project
area by providing improved pedestrian access and drainage along 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 January, 1999.
CHAIRMAN
ATTEST:
AG CYGEND�A
JAN 2 6 1999
AGENCY SECRETARY
ITEM No. 02.
C:\1999RSMD\STAF FRPT\Resolution 99-02.wpd
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