HomeMy WebLinkAbout98-13 RDA ResolutionRESOLUTION NO. RDA 98-13
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF TEMECULA APPROVING THAT CERTAIN
AGREEMENT ENTITLED NOTE PURCHASE AGREEMENT
FOR ACQUISITION OF A NOTE FOR CERTAIN REAL
PROPERTY LOCATED AT 28545 FRONT STREET (APN 922-
036-031) IN THE CITY OF TEMECULA
THE REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA DOES
RESOLVE AS FOLLOWS:
Section 1. The Redevelopment Agency does hereby find, determine and declare
that:
a. The Agency is currently implementing the Redevelopment Plan for
Redevelopment Project No. 1--1988, originally approved by the Board of Supervisors of Riverside
County on July 12, 1988 prior to the incorporation of the City and subsequently approved and
transferred to the Redevelopment Agency of the City of Temecula on April 9, 1991 (the "Plan").
b. The Agency has established a Low and Moderate Income Housing Fund
pursuant to the provisions of Health and Safety Code Section 33433 for the purposes of
increasing, improving and preserving the supply of low and moderate income housing within the
Project Area and the City.
c. The Agency proposes to purchase the property described in the attached
"Purchase and Sale Agreement and Joint Escrow Instructions" for acquisition of a Note for certain
real property located at 28545 Front Street (APN 922-036-031), in the City of Temecula
("Property") for the purposes of increasing, improving and preserving the supply of low and
moderate income housing within the Project Area and the City as the property is zoned for mixed
use residential housing.
d. The acquisition of the Property for low and moderate income housing
purposes is consistent with the Redevelopment Plan and with the Implementation Plan adopted by
the Agency. Additionally, acquisition of the Property and the improvement and preservation of low
and moderate income housing thereon will assist in the elimination of blight in the Project Area.
e. The acquisition of the Note for Property is exempt from the provisions of
the California Environmental Quality Act pursuant to 14 Cal. Admin. Code 15326. Moreover, the
EIR approving the Plan addressed the impacts of housing development in the area of the Property.
Section 2. The Board of Directors of the Redevelopment Agency of the City of
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Section 2. The Board of Directors of the Redevelopmere Agency of the City of
Temecula hereby approves that certain agreemere entitled "Purchase and Sale Agreement and Joint
Escrow Instructions" for acquisition of a note for certain real property located at 28545 From
Street (APN 922-036-031) in the City of Temecula and authorizes the Chairperson to execute the
Agreemere in substantially the form attached hereto as Exhibit A.
Section 3. The Secretary shall certify the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED, by the Board of Directors of the
Temecula Redevelopment Agency this 14th day of July, 1998.
ATTEST:
ans, Chairperson
.us y. $on s,
Agency Secretary~erk
[SEAL]
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan W. Jones, Secretary of the Temecula Redevelopment Agency, do hereby certify
that the foregoing Resolution No. RDA 98-13 was duly and regularly adopted by the Board of
Directors of the Temecula Redevelopment Agency at a regular meeting thereof held on the 14th
day of July, 1998, by the following vote:
AYES:
4 AGENCY MEMBERS: Comerchero, Ford, Roberts, Lindemans
NOES:
0 AGENCY MEMBERS: None
ABSENT: 1
AGENCY MEMBERS: Stone
~t~'~"~'Sus ~~. / ones, Ca-~C
Agency Sec"'r~y/City Clerk
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