HomeMy WebLinkAboutResolution No. 402L
RESOLUTION NO. 402
19
A RESOLUTION OF THE BOARD OF DIRECTORS OF
THE REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA APPROVING AN AMENDMENT TO THAT
CERTAIN AGREEMENT ENTITLED "OWNER -
PARTICIPATION AGREEMENT BY AND BETWEEN
THE AZUSA REDEVELOPMENT AGENCY AND THE
GLEN "E" CORPORATION, A CALIFORNIA NON-
PROFIT CORPORATION.
The Board of Directors of the Redevelopment Agency of the
City of Azusa resolves as follows:
SECTION 1. On September 15, 1986 the Board of Directors
adopted Resolution No. 301 approving an Owner Participation
Agreement between the Azusa Redevelopment Agency and the Glen "E"
Corporation, a California Non -Profit Corporation. The Agency has
subsequently negotiated an amendment to the approved Agreement
and this change is 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 the Glen 'E' Corporation, A California Non -Profit
Corporation" 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 change set forth in Exhibit 3,
Schedule of Performance 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 the Glen 'E" Corporation, a
California Non -Profit Corporation" and authorizes the Chairman of
the Board of Directors to execute said amended 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 21st day
1987.
Eug a F. Moses, Chairman
of September,
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 21st day of September, 1987
AYES: BOARD MEMBERS: AVILA, CRUZ, LATTA, MOSES
NOES: BOARD MEMBERS: NONE
ABSENT: BOARD MEMBERS: COOK
Adolph Sol/is, Secretary