CC- 1989-11 - Agency Payment Hellman/Emersonr = •
RESOLUTION NO. 89-11
RESOLUTION OF THE ROSEMEAD CITY COUNCIL
MAKING CERTAIN FINDINGS AND DETERMINATIONS
WITH RESPECT TO REDEVELOPMENT AGENCY PAYMENT
FOR THE PROSPECT AVENUE RECONSTRUCTION PROJECT
(HELLMAN/EMERSON)
WHEREAS, Prospect Avenue, as depicted in "Exhibit A" lies
westerly of Project Area No. 1; and
WHEREAS, improvement of Prospect Avenue will accommodate
increasing traffic volume through the network of streets that have
been improved previously with redevelopment financing;
NOW, THEREFORE, the Rosemead City Council resolves as follows:
SECTION 1. The City Council finds, determines and declares:
(a) The payment by the Rosemead Redevelopment Agency of the
costs of reconstructing Prospect Avenue, from Hellman Avenue
to Emerson Place, as depicted in "Exhibit All, is of benefit
to Project Area No. 1. This finding is based upon the fact
that the named street will join a network of improved
streets lending to Project Area No. 1, thus providing
improved traffic flow for vehicles entering and exiting the
Project Area.
(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 uncertainity of continuing municipal
revenue sources militates against the depletion of the
existing reserves until such time as revenue sources are
permanently stabilized.
SECTION 2. The City Clerk shall certify to the adoption of this
Resolution.
PASSED, APPROVED and ADO
MAYOR
A'T'TEST= -
-CITY CLERK
P,hereby certify that the foregoing Resolution 89-11 was duly and regularly
adopted by the City Council of the City of Rosemead at a regular meeting
thereof held on the 14th day of February, 1989, by the following vote:
Yes: DeCocker, Bruesch, McDonald, Imperial
No: Taylor
Absent: None
Abstain: None
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C Y CLERK
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EXHIBIT "A"
RESOLUTION 89-11
CITY OF ROSEMEAD
Montebello