HomeMy WebLinkAboutResolution No. 94-R230 0
RESOLUTION NO. 94-R23
A JOINT RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY AND CITY COUNCIL OF THE CITY OF
AZUSA APPROVING THE REDEVELOPMENT LOAN BY THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA PURSUANT TO
THAT CERTAIN OWNER PARTICIPATION AGREEMENT BY AND BETWEEN
THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA AND DEUTSCH
COMPANY
THE CITY COUNCIL/BOARD OF DIRECTORS OF THE REDEVELOPMENT
AGENCY OF THE CITY OF AZUSA DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council/Board of Directors of the
Redevelopment Agency of the City of Azusa hereby finds, determines
and declares that:
A. The Redevelopment Agency of the City of Azusa ("Agency")
is engaged in activities necessary to execute and implement the
Redevelopment Plan for the West End Project ("Project"); and
B. In order to implement the Redevelopment Plan, the Agency
proposes to provide a redevelopment loan in the Project Area to be
used for the installation of pollution control equipment pursuant
to the terms and provisions of a certain Owner Participation
Agreement ("Agreement"); and
C. The Agency and Deutsch Company ("Developer") have
negotiated the terms of the Agreement; and
D. The proposed Agreement contains all the provisions,
terms, conditions and obligations required by state and local law;
and
E. The Developer has agreed to the provisions of the
redevelopment loan and to develop the Property as described in the
Agreement, in accordance with the purposes and objectives of the
Redevelopment Plan; and
F. The Agency has prepared, and the City Council has
reviewed and considered, a summary setting forth an explanation of
how the redevelopment loan will assist in the elimination of
blight, with reference to all supporting facts and materials relied
upon in making this explanation; and
G. The Agency considered and approved a Negative Declaration
which considered the rehabilitation of the Property; and
H. Pursuant to provisions of the California Community
Redevelopment Law, the Agency held a duly noticed public hearing on
the proposed redevelopment loan and the proposed Agreement; and
I. The City Council/Agency has considered all terms and
conditions of the proposed redevelopment loan and the Agreement and
has determined them to be in the best interests of the Agency, in
accord with the public purposes and provisions of applicable State
and local laws; and
J. The Developer's legal counsel has suggested certain
changes to the structure of the transaction and to the format of
the OPA which changes have been considered and approved by the
Agency.
SECTION 2. The City Council/Agency hereby finds and
determines that the proposed Agreement and redevelopment loan and
development of the Property will not have a significant effect on
the environment or result in a substantial or potentially
substantial adverse change in the environment.
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SECTION 3. The City Council/Agency hereby finds and
determines that the redevelopment loan will assist in the
elimination of blight.
SECTION 4. The City Council/Agency hereby finds and
determines that the proposed redevelopment loan is necessary for
the economic feasibility of the development of the Property and
that this assistance cannot be obtained on economically feasible
terms in the private market.
SECTION 5. The City Council/Agency hereby finds and
determines that the consideration for the redevelopment loan
pursuant to the Owner Participation Agreement between the Agency
and the Developer is in accordance with the redevelopment plan.
SECTION 6. The provisions of the redevelopment loan by the
Agency to the Developer and the Owner Participation Agreement which
establishes the terms and conditions for the redevelopment loan and
development of such property, are hereby approved in substantially
the form presented to the City Council/Board of Directors, together
with the changes to the Owner Participation Agreement proposed by
Developer's legal counsel and such minor changes as may be approved
by the Executive Director and Agency Counsel.
SECTION 7. The Executive Director is hereby authorized to
execute an Agreement substantially in the form of the Agreement
presented, with the changes to the Owner Participation Agreement
proposed by Developer's legal counsel and such minor changes as the
Executive Director deems appropriate, on behalf of the Agency and
City and to take all action necessary to carry out said Agreement.
SECTION 8. The City Clerk/Secretary shall certify to the
passage and adoption of this Resolution and the same shall
thereupon take effect and be in force.
PASSED, APPROVED AND ADOPTED THIS 16th DAY OF May, 1994.
C�iairman/mayor
I HEREBY CERTIFY that the foregoing Resolution was duly adopted
by the City Council of the City of Azusa, at a regular meeting
thereof, held on the 16th day of May, 1994, by the following vote
of the Council:
AYES:
CITY
COUNCIL/BOARDMEMBERS:
HARDISON, MADRID, NARANJO, BEEBE
NOES:
CITY
COUNCIL/BOARDMEMBERS:
AbfieNDER
ABSENT:
CITY
COUNCIL/BOARDMEMBERS:
NONE
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