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CC - 2003-21 - CDC Payment for Cost Associated with Street Improvementss RESOLUTION NO. 2003 - 21 0 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD MAKING CERTAIN FINDINGS AND DETERMINATIONS WITH RESPECT TO COMMUNITY DEVELOPMENT COMMISSION PAYMENT FOR COSTS ASSOCIATED WITH STREET IMPROVEMENTS ON SAN GABRIEL BOULEVARD (1-10/SOUTH CITY LIMIT) 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 improvements on San Gabriel Boulevard 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 Million Two Hundred Eighty Thousand Dollars ($1,280,000). NOW, THEREFORE, the Rosemead City Council resolves as follows: Section 1. The Rosemead City Council finds, determines, and declares: (a)The payment bythe Rosemead Community Development Commission for costs associated with the improvements on San Gabriel Boulevard, 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 street resurfacing, street lighting, parkway trees, new sidewalk and handicap ramps, 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 City Clerk shall certify to the adoption of this Resolution. PASSED, APPROVED AND ADOPTED this 24th day of June, 2003. STATE OF CALIFORNIA COUNTY OF LOS ANGELES CITY OF ROSEMEAD ss. 0 I, Nancy Valderrama, City Clerk of the City of Rosemead, do hereby certify that the foregoing Resolution No. 2003-21 being: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD, MAKING CERTAIN FINDINGS AND DETERMINATIONS WITH RESPECT TO COMMUNITY DEVELOPMENT COMMISSION PAYMENT FOR COSTS ASSOCIATED WITH STREET IMPROVEMENTS ON SAN GABRIEL BOULEVARD (I-10/SOUTH CITY LIMIT) was duly adopted at a Regular Meeting of the City Council on the 24° day of June, 2003, by the following vote to wit: YES: ALARCON, CLARK, VASQUEZ, IMPERIAL, TAYLOR NO: NONE ABSTAIN: NONE ABSENT: NONE NANCY V DERRAMA,.CITY CLERK AGENDA:CERTIFY EXHIBIT A 12 p: 40 , PROJECT LOCATION A 0 0