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HomeMy WebLinkAboutResolution No. 3490 RESOLUTION NO. 349 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE CITY OF AZIISA APPROVING THAT CERTAIN AGREEMENT ENTITLED "OWNER -PARTICIPATION AGREEMENT BY AND BETWEEN THE AZIISA REDEVELOPMENT AGENCY AND MESSENGER/AZIISA II'' The Board of Directors of the Redevelopment Agency of the City of Azusa resolves as follows: SECTION 1. On January 19, 1987 the Board of Directors adopted Resolution No. 328 approving an Owner Participation Agreement between the Azusa Redevelopment Agency and Messenger/Azusa II. The Agency has subsequently negotiated minor amendments to the approved Agreement and these changes have been incorporated into the Amended Agreement attached hereto as Exhibit "A". SECTION 2. The Board of Directors of the Redevelopment Agency of the City of Azusa hereby finds that the "Amended Owner - Participation Agreement by and between the Azusa Redevelopment Agency and Messenger/Azusa II" will contribute to the accomplishment of the Agency's goals in the Central Business District Redevelopment Project Area and the goal of redeveloping the Site and hereby incorporates by reference the recitals set forth in Section 108 of the Agreement which is attached hereto. SECTION 3. The Board of Directors of the Redevelopment Agency of the City of Azusa hereby approves that certain agreement entitled "Owner -Participation Agreement by and between the Azusa Redevelopment Agency and Messenger/Azusa II" and authorizes the Chairman of the Board of Directors to execute said amendment Agreement on behalf of the Agency in substantially the form as attached hereto as Exhibit "A." SECTION 4. The Secretary shall certify the adoption of this Resolution and shall cause the Agreement to be recorded promptly upon its execution by all parties thereto. PASSED, APPROVED AND ADOPTED this 20th day of April I 1987. Eug a F. Moses,Chairman I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Board of Directors of the Azusa Redevelopment Agency of the City of Azusa, at a regular meeting thereof held on the 20th day of ApriI , 1987. AYES: BOARD MEMBERS: AVILA, COOK, CRUZ, LATTA, MOSES NOES: BOARD MEMBERS: NONE ABSENT: BOARD MEMBERS: NONE Adolph A olis, Secretary RRS/tmb