HomeMy WebLinkAboutResolution No. 526RESOLUTION NO. 526
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 WEST VENTURE
DEVELOPMENT COMPANY
The Board of Directors of the Redevelopment Agency of the
City of Azusa resolves as follows:
SECTION 1. On September 19, 1988 the Board of Directors
adopted Resolution No. 504 approving an Owner Participation
Agreement between the Azusa Redevelopment Agency and West Venture
Development Co. The Agency has subsequently negotiated minor
amendments 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 West Venture Development Co." 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 the changes set forth in the
Agreement which is attached hereto.
SECTION 3. The Board of Directors of the Redevelopment
Agency of the City of Azusa hereby approves the certain agreement
entitled "Owner -Participation Agreement by and between the Azusa
Redevelopment Agency and West Venture Development Co." 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 of Nov., 1988.
Euge 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 21st day of Nov" 1988
AYES: BOARD MEMBERS: AVILA, STEMRICH, NARANJO, LATTA, MOSES
NOES: BOARD MEMBERS: NONE
ABSENT: BOARD MEMBERS: NONE
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A o ph SQYis, Secretary