R-467 (2)
Attachrr:f'nt B
RESOLUTIOK J\l..;~fBER 467
(R.i\S)
(Redevelopment Senes)
A RESOLUTION OF THE REDEVELOP~IENT AGENCY OF THE CITY OF SAt'\'T A
~lONICA APPROVING THE PA YME:':T OF TAX INCRE~IE:-.rT FUNDS FOR THE VALUE
OF LA:\D AJ"W. IMPROVE'vIE:'\TS OF THE VIRGINIA A VE)[DE PARK EXPANSION
PROJECT AND ~IAKING CERTAIX FDIDi?\GS PURSUAl'iT TO HEALTH AI\.T) SAFETY
CODE SECTION 33445
\VHEREAS. the Redevelopment Agency of the CIty of Santa MOnIca (the "Agency") has
prepared a Redevelopment Plan for the Santa MOlllca Earthquake Recovery Redevelopment Project
(the "Redevelopment Plan") whIch would result m the allocatIOn of taxes from the Project Area to
the Agency for the purposes of redevelopment, and
'N'HEREAS, the Redevelopment Plan mcludes the repalr, upgrade, rehabilitatIon or
acqulSltlOn of property as necessary for public faellltles and park lmprovements, mc1udmg the vacant
parcels at PICO and Cloverfield Boulevards, and
\\'HEREAS, the City of Santa MOnIca purchased the vacant parcels at P1CO and Cloverfield
Boulevards (2233 and 2201 Pleo Boulevard) m 1991 and intends to use the site as the eastern
expanslOn afthe adj acent V nglma A venue Park (the "V Irgmla Avenue Park ExpanSion Pro] ect," or
the "Project")
\VHEREAS, the Agency proposes to pay for a portIOn of the value of the land and future
pubhc Improvements ofthe Project, whlch IS located wlthm the Santa MOllIca Earthquake Recovery
Redevelopment Project Area; and
\\'HEREAS, Section 33445(a) of the Health and Safety Code authonzes a redevelopment
agency, WIth the consent of the leglslatlve body and lf the agency and the legIslative body make
certam determmatlons speclfied m SectlOn 33445, to pay all or a part of the value of the land for and
the cost of the mstallatlon and constructIOn of any bUlldmg, faclhty, structure, or other Improvement
whlch IS publicly owned
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF SAKTA
MONICA DOES RESOLVE AS FOLLOWS
SECTION I The Agency hereby finds and determmes
(1) that the proposed Improvements are of benefit to the Project Area,
(2) that no other reasonable means of financmg the lmprovements includmg the overall
development ofVlrgmIa Avenue Park are avallable to the commumty,
(3) that the payment of funds for the Improvements WIll asSIst the recovery from and the
eltmmatlOn of one or more of the condItions resultmg from, the 1994 Northndge
Earthquake dIsaster;
(4) that the payment of funds for the Improvements wIll assIst m ehmmatlOn of one or more
bhghtmg condItIOns mSlde the ProJ ect Area by assIstIng m the ehmmatlon of one or more
of the condItIOns resultmg from the 1994 Northndge Earthquake d1saster, and
(5) that the Project IS consIstent wIth the ImplementatIon plan adopted pursuant to SectIOn
33490
SECTION 2 The Agency hereby approves the payment of tax mcrement funds for saId
land and 1mprovements
SECTION 3 The Secretary of the Agency shall certIfY the adoptIOn ofth1s ResolutIOn and
thenceforth and thereafter the same shall be m full force and effect
APPROVED AS TO FORM
Adopted and approved this 13th day of June, 2A---...
~0,~~
Ken Genser, fhair --....
I, Mana M Stewart, CIty Clerk of the CIty of Santa MOnica, do hereby
certIfy that the foregOing Resolution No 467 (RAS) was duly adopted at a JOint
meetmg of the Santa MOnica City CounCil and the Redevelopment Agency held
on the 13th day of June, 2000, by the follOWing vote
Ayes Agency members
Rosenstem, McKeown, Femstem, Bloom,
Chair Pro Tem O'Connor, Chair Genser
Noes Agency members
None
Abstain Agency members
None
Absent" Agency members'
Holbrook
ATTEST
~~.~~
Marla M Stewart\