HomeMy WebLinkAbout95-08 RDA ResolutionRESOLUTION NO. RDA 95-08
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF TEMECULA APPROVING AN OWNER PARTICIPATION
AGREEMENT BY AND BETWEEN THE REDEVELOPMENT
AGENCY OF THE CITY OF TEMECULA AND ADVANCED
CHEMILL SYSTEMS, A CALIFORNIA CORPORATION
THE REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA DOES
HEREBY DETERMINE, RESOLVE, AND ORDER AS FOLLOWS:
Section 1. The Redevelopment Agency of the City of Temecula hereby makes the
following findings:
A. Advanced Chemill Systems (Participant) has relocated from Corona to
Temecula to a 13,099 sq. ft. building facility.
B. The total cost of the relocation to the new facility is not less than $10,000.
C. Once fully equipped and operating, the facility will create a total of sixty (60)
positions; twenty-five (25) of which will result from their relocation to Temecula. The average
salary of these positions will be $20,800 per year.
D. In order to induce Participant to remain in the Facility in Temecula, expand
the business operations, and thereby eliminate blight and generate employment opportunities in
the Project Area, the Participant needs the assistance of the Agency in helping to offset the costs
of relocation.
E. Pursuant to § 33444.6 of the California Community Redevelopment Law, the
Redevelopment Agency finds that the proposed financial assistance is necessary for the economic
feasibility of the relocation of Advanced Chemill Systems to the City of Temecula; and that the
relocation assistance could not be obtained on economically feasible terms from the private
market. This finding is based on the fact that without the financial assistance proposed by the
Redevelopment Agency, the Facility would not relocate to the City of Temecula creating a
substantial loss of jobs, sales tax and property tax revenue for the City, County, and State.
Section 2. Based upon the above findings, the Redevelopment Agency of the City of
Temecula hereby approves the Owner Participation Agreement by and between the
Redevelopment Agency of the City of Temecula and Advanced Chemill Systems, a California
Corporation.
Resos.Rda\95-08
PASSED, APPROVED AND ADOPTED, by the Redevelopment Agency of the City
of Temecula at a regular meeting on the 12th day of December 1995.
Ronald J. IS~rk~, Chairperson
ATrEST:
J~. Greek, CMC, Cii~ Clerk/
Agency Secretary
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )ss
CITY OF TEMECULA )
I, June S. Greek, Agency Secretary of the City of Temecula, California, do hereby
certify that Resolution No. RDA 95-08 was duly and regularly adopted by the City Council of
the City of Temecula at a regular meeting thereof held on the 12th day of December, 1995, by
the following vote:
AYES: 5
AGENCYMEMBERS:
Birdsall, Lindemans, Parks, Roberts,
Stone
NOES:
0 AGENCYMEMBERS: None
ABSENT: 0 AGENCYMEMBERS: None
June'--84.~Greek, CMC, City Clerk/
Agency Secretary
Resos.Rda\95-08 2