CC - 1995-16 - Agency payments for te Highcliff Street Reconstruction ProjectRESOLUTION NO. 95-16
A RESOLUTION OF THE CITY COUNCIL 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 City Council resolves as follows:
Section 1. The Rosemead City Council 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 City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTEII
ATTEST:
I hereby certify that the foregoing Resolution No.
95-16 was duly and regularly adopted by the Rosemead
City Council at a regular meeting held on the 28th
day of March, 1995, by the following vote:
_ CI Y CLERI. Yes: Clark, Bruesch, Vasquez, Imperial
No: Taylor; ~Absent: None; Abstain: None
City Cle
Project Are
•
Exhibit "A"
•