R-452
RESOLL-rIONNUMR'F.R 452 UAS
(~edevelopmen6eries)
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SM"'TAMONICA A~PROVWGTHE IMPLEMENTATION
OF THE COtvlMERCIAL STREETSC APE PROGRA..\1 ANTI
APPROVING A REIMBURSEMeNT .-\GREEMENT
BETWEEN THE CITY AND THE REDEVELOPMENT AGENCY
WHEREAS, the Redevelopment Agency of the City of Santa Monica (the "Agency'") has
prepared II Redevelopment Plan for the Santa MOnica Earthquake Recover; Redevelopment Project
which would result in the allocatlon of taxes from the Project Area to the Agency for the purposes
of redevelopment~ and
WHEREAS, the Agency proposes to implement the Commercial Streetscape Program
described in the Program Description attacheu ht:lelo as Exhibit A and incorporated herem by this
reference, and
WHEREAS, the estimated aggregate cost of implementing the Commercial Streetscape
Prog..am, which iq to be carried out in multiple phases, IS approximately twenty million dollars
(S20,000,000); and
WHEREAS, the City and the Agency have prepared a proposed Reimbursement Agreement
to proVide a means of carrying out the Commercial Srreetscape Program.
WHEREAS. Section 33445(a) of the California Community Redevelopment Law aUthorizes
~ ralevclopment agency. with the consent of the legislative body and if the agency and the legislative
body make cenain determinations specified in SectiOrt 33445, to pay all or part of the cost of
installation and construction of any publidy owned improvement.
NOW. TJffiR.EFORE, tHE REDEVELOPMENT AGENCY OF THE CITY OF S~"A
MONICA DOES RESOL VB AS FOLLOWS:
SECTION L The Agency hereby finds and determmes (1) that the proposed improvements
as outlined in the Program Description are of benefit to the Project Atea; (2) that no reasonable
means ofllnancing the impLuvemenu other thAn that set forth In the Reimbursement Agreement is
available to the community, (3) that the payment of funds for the improvements will assist the
recovery from, and the elimination of one or more of the conditions resulting from. the 1994
Northridge earthquake disaster; (4) that the payment of funds for the improvements will assist in the
elimination of one or more blighting conditions inside the Project Area by assisting in the elimination
of one or more of the condrtiorJ5 resulting from the 19^A Nonhrldge earthquake disaster; and (5) that
the Commercial Streetscape Program is consistent with the Implementation plan adopted pursuant
to Section 33490.
SECTION 2. The SecretlU)' of the Agt'ncy ~h211 certify the adoption of thIs Resolution, and
thenceforth and thereafter [he same shal1 be in full force and effect
APPROVED AS TO FOR.\1
-~Jj_N}~ ~
Marsha Jones :'J~~trie "-
General Coun~1
Adopted and approved thIs 28th day of January, 1997
I
'D1Nl11 rtJ~-
rv - Cnalf
~
I hereby certIfy that the foregomg ResolutIOn No 452 (Ri\S) was duly adopted at a
meetmg of the Redevelopment Agency held on the 28th day of January, 1997 by the follO"wmg
vote
Ayes
Agency 'vIember
Femstem. GenseL Greenberg. Holbrook O'Connor,
Rosenstem
Koes
Agency Member
None
Abstam
Agency Member
None
Absent
Agency .rvIember
Ebner
ATTEST
~~ ~a.d;
Secretary