RRA - Item 3 - Authorizaing Transmittal Of The Revelopment Plan for Rosemead Redevelopment Project No. 2ASSOCIATES; INC:
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ECONOMIC DEVELOPMENT To:
REDEVELOPMENT From:
Frank G. Tripepi,
Executive Director, Rosemead Redevelopment Agency
Stephen A. Copenhaver, GRC Associates
REAL ESTATE CONSULTING Date: May 17, 2000 -
Subject:. Adoption of a Resolution Authorizing Transmittal of
AFFORDABLE HOUSING - - the Redevelopment Plan for Redevelopment Project
Area No. 2
INTRODUCTION
The. proposed Redevelopment Plan for Redevelopment Project Area No. 2
been prepared and is attached as Exhibit "A ".
o
STATEMENT OF FACT
The Redevelopment Plan for the Project contains the various provisions
required by Redevelopment Law to be included in a redevelopment plan,
including Agency objectives for redevelopment. The Redevelopment Plan is
not "plan ". in the traditional sense of a plan, but primarily a legal document
which authorizes certain Agency activities in the Project Area. Such
activities include, but are not limited to, the collection of tax increment
revenues from within the Project Area, financing and installing public
improvements and facilities, and implementing programs consistent with the
Agency's goals such as', business. retention and building rehabilitation
— – programs.
The Redevelopment Plan also contains various . restrictions on Agency
authorities and numerous legal requirements pertaining to redevelopment
activities. Chief among these are the- requirements for low -and moderate -
1340 VALLEY VISTA DRIVE - income housing, owner participation' and business reentry, provision; time
limits on establishment of project - -debt, debt repayment. and the plan's
SUITE 120 - duration; and the maximum amount of bonded debt that can be outstanding_
at one time.
DIAMOND EAR. CA 91765 - - •`�'6ENCY AGENDA
T: (909) 396 -7714 - MAY 2.3-200.0.
F: (909) 396 -7913 - �TEIVI: 10 3.
. m grcassoc @ear .net -_
RESOLUTION NO. 2000 -11
A RESOLUTION OF THE ROSEMEAD REDEVELOPMENT AGENCY
AUTHORIZING TRANSMITTAL OF THE REDEVELOPMENT PLAN FOR .
ROSEMEAD REDEVELOPMENT PROJECT NO. 2
WHEREAS, the Rosemead Redevelopment Agency (the "Agency ") has initiated the formation of
Rosemead Redevelopment Project No. 2; and
WHEREAS, the Agency has prepared the Redevelopment Plan for Redevelopment Project No. 2
(the "Redevelopment Plan "); and
WHEREAS, the Redevelopment Plan was prepared pursuant to the requirements of the Community
Redevelopment Law (Health and Safety Code Section 33000 et seq.); and
WHEREAS, Section 33346 of the Community Redevelopment Law required that the
Redevelopment Plan be submitted to the Planning Commission for its report and recommendation of
conformity to the City of Rosemead General Plan; and
WHEREAS, the Agency shall send the Redevelopment Plan to each affected taxing entity.
___ ___ _-NOW, -THEREFORE, ]T.IS._HEREBY_RESOLVED_by_ the Rosemead Redevelopment Agency as
follows:
SECTION 1:. The Redevelopment Plan is hereby approved for transmittal to the Planning
Commission and the various affected.taxing agencies, as required by law.
SECTION 2: The Executive Director of the Agency is hereby authorized and directed to make
such transmittals.
ADOPTED, SIGNED AND APPROVED this 23rd day of May, 2000.
ATTEST:
SECRETARY
ROSEMEAD REDEVELOPMENT AGENCY
CHAIRPERSON
ROSEMEAD REDEVELOPMENT AGENCY
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