HomeMy WebLinkAboutResolution No. 96-R510 0
RESOLUTION NO. 96-R51
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
APPROVING AN OWNER PARTICIPATION AGREEMENT WITH
TEXACO REFINING AND MARKETING, INC.
THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE
CITY OF AZUSA DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The Board of Directors of the Redevelopment Agency of the City of Azusa
does hereby find, determines and declares that:
A. The Redevelopment Agency of the City of Azusa (the "Agency") is engaged in
activities necessary to execute and implement the Redevelopment Plan for the Central Business
District Project Area ("Redevelopment Plan"); and
B. In order to implement the Redevelopment Plan, the Agency proposes to enter into
an Owner Participation Agreement (the "Agreement") with Texaco Refining and Marketing Inc.
("Texaco") pursuant to the Agreement to Agency will make a loan to Texaco wo will construct
an electronic reader board sgn on its property at the southeast corner of Azusa Avenue and First
Street in the City of Azusa (the "Project"); and
C. The Agency and Texaco have negotiated the terms of the Agreement; and
D. The proposed Agreement contains all of the provisions, terms, conditions and
obligations required by state and local law.
E. The Agency has caused a draft mitigated negative declaration for the Project to be
prepared.
F. The Agency has independently reviewed the mitigated negative declaration, a copy
of which is attached hereto as Exhibit "B".
SECTION 2. The Agency hereby approves the Agreement in substantially the form
presented to the Board of Directors, a copy of which is attached hereto as Exhibit "A," together
with such changes and substantive amendments as may be approved by both the Executive
Director of the Agency and Agency Counsel.
SECTION 3. The Agency hereby approves the mitigated negative declaration.
SECTION 4. The Chairman of the Agency is hereby authorized to execute the Agreement
on behalf of the Agency and to take all action necessary to carry out the Agreement.
SECTION 5. The Secretary shall certify the passage and adoption of this Resolution and
the same shall thereupon take effect and be in force.
PASSED, APPROVED AND ADOPTED this 7th day of September, 1996.
Chairman
1 HEREBY CERTIFY that the foregoing Resolution No. 96-R51 was duly
adopted by the Board of Directors of the Redevelopment Agency of the City of Azusa, at a regula r
meeting thereof, held on the 7th day of October 1996, by the following vote of the Board.
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AYES: BOARDMEMBERS:HARDISON, MADRID, NARANJO, BEEBE, ALEXANDER
NOES: BOARDMEMBERS: NONE
ABSENT: BOARDMEMBERS: NONE
APPROVED AS TO FORM:
By B(t[u , p e"
Agency Counsel
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