R-9319
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RESOLUTION NUMBER 9319
(CCS)
EXHIBIT F
(see ai.so :
Iltso ~qfJ1 !AS
+Ccn1rc1cf-
* 135'"J C?eV
(CIty CouncIl Senes)
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA CONSENTING TO THE
SANTA MONICA REDEVELOPMENT AGENCY'S FUNDING OF THE
1116-1146 FOURTH STREET PROJECT AND
APPROVING A REIMBURSEMENT AGREEMENT
BET\NEEN THE CI1Y AND THE REDEVELOPMENT AGENCY
WHEREAS, the Redevelopment Agency of the City of Santa MOnica (the "Agency")
has prepared a Redevelopment Plan for the Santa MOnica Earthquake Recovery
Redevelopment Project, which would result In the allocation oftaxes from the Project Area
to the Agency for the purposes of redevelopment, and
WHEREAS, the Agency proposes to fund the public parking spaces at the 1116-
1146 Fourth Street ProJect, and
WHEREAS, the estimated cost of the public parkIng spaces IS approximately two
million five hundred sixty-three thousand SIX hundred and SIXty dollars ($2,563,660), and
WHEREAS, the City and the Agency have prepared a proposed Reimbursement
Agreement to prOVide a means of constructing the public parking spaces at 1116-1146
Fourth Street, and
WHEREAS, Section 33445(a) of the California Community Redevelopment Law
authonzes a redevelopment agency, with the consent of the legislative body and If the
agency and the legislative body make certam determinations speCified In Section 33445,
to pay all or part of the cost of InstallatIon and construction of any publicly owned
Improvement
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOW
SECTION 1 The CIty CounCil hereby finds and determines (1) that the proposed
public parking IS of benefit to the Earthquake Recovery Redevelopment Project Area, (2)
that no reasonable means of finanCing the improvements 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 Northndge 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, and (5) that the payment of funds for the
Improvements IS conSistent With the Implementation Plan for the Earthquake Recovery
Redevelopment Project
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EXHIBIT F
SECTION 2 The CIty Council hereby consents to the payment of funds for the
public parking Improvements pursuant to the Reimbursement Agreement
SECTION 3 The City Council hereby approves the Reimbursement Agreement and
authOrizes the City Manager to execute the same on behalf of the City
SECTION 4 The City Clerk shall certify to the adoption of this Resolution and
thenceforth and thereafter the same shall be In full force and effect
APPROVED AS TO F~M
lhiJ.j j~JAl7uu~
Marsha Jones M9J..itrle- .
City Attorney
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Adopted and approved thIs 22nd of September, 1998
:d-~
Robert Holbrook, Mayor
I, Mana M Stewart, City Clerk of the CIty of Santa Monica, do hereby certify that
the foregoing Resolution 9319 (CCS) was duly adopted at a meeting of the Santa
MOnica City Council held on the 22nd of September, 1998 by the follOWing vote
Ayes Councllmembers
Ebner, Feinstein, Genser, Greenberg, Holbrook,
O'Connor
Noes Councllmembers
None
AbstaIn Councllmembers
Rosenstein
Absent CounCllmembers
None
ATTEST
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Marla M Stewart, City Clerk