Res 95-077RESOLUTION NO. 95-077
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POWA¥, CALIFORNIA
APPROVING AN OWNER PARTICIPATION AGREEMENT BY AND BETWEEN THE
POWAY REDEVELOPMENT AGENCY AND ENVIRONMENTAL DEVELOPMENT, LTD.
DETERMINING THAT THE CONSTRUCTION AND ACQUISITION OF CERTAIN PUBLIC
IMPROVEMENTS ON OR ADJACENT TO THE SITE IS OF BENEFIT TO THE PAGUAY
REDEVELOPMENT PROJECT AND THE IMMEDIATE NEIGHBORHOOD IN WHICH THE PROJECT
IS LOCATED; DETERMINING THAT THERE ARE NO OTHER REASONABLE MEANS OF FINANCING
SAID IMPROVEMENTS; AND AUTHORIZING THE EXECUTION AND DELIVERY
OF SAID OWNER PARTICIPATION AGREEMENT
WHEREAS, the Poway Redevelopment Agency ("Agency") is authorized to carry
out the redevelopment of the Paguay Redevelopment Project Area ("Project Area")
and;
WHEREAS, the Redevelopment Plan for the Project area authorizes ar, d directs
the Agency to pay all or part of the cost of the acquisition of certain public
improvements; and
WHEREAS, the Agency desires to enter into an Owner Participation Agreement
("OPA") with Environmental Development, Ltd. ("Participant"), substantially in
the form presented to the Agency at the meeting at which this resolution was
adopted; and
WHEREAS, pursuant to the OPA, the Agency is required to provide financial
assistance toward the construction of those certain public improvements
referenced in the OPA, particularly Section 205; and
WHEREAS, the "Site" (as defined in the OPA) and the immediate adjacent area
is deficient in respect to infrastructure to such an extent that it is not
financially feasible for the necessary improvements to be provided either by
private enterprise acting alone or by means of assessment district without direct
Agency contribution toward the efforts of such a district; and
WHEREAS, California Health and Safety Code Section 33445 provides that a
redevelopment agency may, with the consent of the legislative body, pay all or
part of the value of public buildings, facilities, structures or other
improvements upon a finding that such public improvements are of benefit to the
project area or the immediate neighborhood in which the project is located and
that there are no other reasonable means of financing such public improvements
available to the community.
NOU, THEREFORE, TilE CITY COUNCIL OF THE CITY OF POWAY DOES HEREBY RESOLVE
AS FOLLOWS:
Section 1: The City Council hereby approves the form of the OPA with the
Participant presented at the meeting at which this resolution was adopted.
Section 2: The City Council hereby determines that the acquisition,
construction and installation of the public improvements is of benefit to the
Project Area and the surrounding neighborhood in which the project is located.
Resolution No. 95- 077
Page 2
Section 3: The City Council hereby determines that it is appropriate for
the public improvements to be acquired, or cause the construction and
installation of the public improvements, and that there are no other reasonable
means of financing the public improvements.
Section 4. The City Council consents to the provisions of assistance by
the Agency for the development of the public improvements.
PASSED, ADOPTED AND APPROVED by the City Council of the City of Poway,
California at a regular meeting thereof this 11th day of July, 1995.
ATTEST:
Marjorie\K. Wahlsten, City Clerk
\
STATE OF CALIFORNIA )
) SS.
COUNTY OF SAN DIEGO )
I, Marjorie K. Wahlsten, City Clerk of the City of Poway, do hereby certify
that the foregoing Resolution No. 95- 077 was duly adopted by the City Council
at a meeting of said Council on the 11th day of July, 1995, and that it was so
adopted by the following vote:
AYES:
CAFAGNA, REXFORD, HIGGINSON
NOES: NONE
ABSTAIN: NONE
ABSENT:
CALLERY, EMERY
c: \data\agenda\opaedevc. res
Marjorie~K.
City Clerk
Wahl sten