HomeMy WebLinkAboutResolution No. 7260 0
RESOLUTION NO. 726
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
APPROVING AN OWNER PARTICIPATION AGREEMENT
BETWEEN THE REDEVELOPMENT AGENCY AND THE
SPANISH ASSEMBLY OF GOD CHURCH FOR THE FACADE
REHABILITATION OF 540 N. AZUSA AVENUE
WHEREAS, Agency staff has negotiated an Owner Participation
Agreement (OPA) with the Spanish Assembly of God Church at 540 N.
Azusa Avenue; and
WHEREAS, said OPA requires a maximum Agency investment of
$17,000 but labor and materials supplied by the church will
leverage the Agency investment to produce an estimated $50,000 in
improvements; and
WHEREAS, the improvements to be made to 540 N. Azusa Avenue
under the OPA are consistant with the goals of the Redevelopment
Plan for the Central Business District (CBD) and with the general
downtown rehabilitation plan for the CBD
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA AS FOLLOWS:
SECTION 1. The Board of Directors of the Redevelopment Agency
of the City of Azusa hereby approves that certain agreement
entitled "City of Azusa Redevelopment Agency Commercial
Rehabilitation Project, Owner Participation Agreement, Spanish
Assembly of God Church," dated June 20, 1990, and authorizes the
Chairman to execute said Agreement on behalf of the Agency in
substantially the same form as attached hereto as "Exhibit A."
SECTION 2. The Board of Directors of the Redevelopment
Agency of the City of Azusa hereby authorizes Agency staff to
direct the Arroyo Group to complete construction plans and
specifications necessary for implementation of the OPA.
SECTION 3. The Secretary shall certify the adoption of this
Resolution.
PASSED, APPROVED AND ADOPTED this 6th day of August, 1990.
Aa' an
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Board of Directors of the Redevelopment Agency of
the City of Azusa, at a regular meeting thereof, held on the 6th
day of August, 1990 by the following vote of the Directors:
AYES: DIRECTORS: STEMRICH, NARANJO, ALEXANDER, MOSES
NOES: DIRECTORS: NONE
ABSENT: DIRECTORS: DANGLEIS