CC - 2002-53 - Payment for Cost Associated with the Reconstruction of Virginia Street•
RESOLUTION NO. 2002-53
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 THE RECONSTRUCTION OF VIRGINIA STREET WEST
OF DENTON AVENUE
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 reconstruction of the Virginia Streetwest of Denton Avenue 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 Hundred Forty-five Thousand Dollars ($145,000).
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 reconstruction of Virginia Street, 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 standard street improvements, including drainage and
street lighting, enhanced public safety and improved vehicular access along roadways within and
adjacent to Project Areas No. 1, thus enhancing the \elue 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 12th day of November, 2002.
ATTEST:
R
CITY CLERK
Resolution No. 2002-53
page 2
I hereby certify that the foregoing Resolution No.
2002-53 was duly and regularly adopted by the
Rosemead City Council at a regular meeting held
on the 12th day of November 2002, by the following
vote:
Yes: Clark, Vasquez, Taylor, Imperial, Bruesch
Nos None, Absent: None, Abstain: None
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