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102-Redevelopment Agency Resolution.pdf
RESOLUTIONNO. 11-01 RESOLUTIONOFTHECITYOFCUPERTINOREDEVELOPMENT AGENCYAUTHORIZINGTHECHAIRPERSONTOEXECUTEALOAN ANDREPAYMENTAGREEMENTBETWEENTHECITYOF CUPERTINO(CITY)ANDTHECITYOFCUPERTINO REDEVELOPMENTAGENCY(AGENCY) WHEREAS,theAgencyis vestedwiththeresponsibilityforformulatingand carrying out necessaryredevelopment projectswithintheCupertinoVallco RedevelopmentProjectArea(the"ProjectArea");and WHEREAS,toassistwiththeAgency'simplementation oftheredevelopment programintheProjectArea,theAgencyandtheCitydesiretoenterintoaLoanand RepaymentAgreement(the"Agreement", onfilewiththeCityClerkandtheAgency Secretary)inwhichtheCityagreesto provide staff servicestotheAgency,toconstruct improvements of benefittotheredevelopmentprogram under specifiedcircumstances andtoaddresstaxrollreassessmentliabilityissues, subjecttoreimbursementbythe AgencyasprovidedinthisAgreement;and WHEREAS,implementation oftheAgreementwillassisttheAgencyto accomplishthe statedgoalsintheRedevelopmentPlananditscurrentImplementation Planas describedinthestaffreportaccompanyingthisResolution(the"StaffReport”); and WHEREAS, undertheCaliforniaRedevelopmentLaw(HealthandSafetyCode Section 33100 et seq.;the"Law"), beforetheAgencycanexpendmoneyfor public improvements,theAgencyandtheCitymustmake specifiedfindings pursuanttoHealth andSafetyCodeSection33445;and WHEREAS, pursuanttotheLaw,theAgencyisauthorized,withtheconsent of theCityCouncilto payfor part, orall, ofthecosts of publicimprovementsthatare of benefittotheProjectArea;and WHEREAS, no otherreasonablemeans offinancingtheestimatedcost ofthe publicimprovementsareavailabletotheCity orthecommunity;and WHEREAS,theStaffReport,theRedevelopmentPlan,thereporttoCityCouncil accompanyingtheRedevelopmentPlan,andtheImplementationPlan provideadditional information upon whichthefindingsandactionssetforthinthisResolutionare based. 1 394\\01\\942281.2 NOW, THEREFORE,BEITRESOLVEDbytheCityofCupertino RedevelopmentAgencyasfollows: 1.IncompliancewithSection 33445 oftheLaw,theAgency herebyfinds that:(a)theinstallation orconstruction ofthe publicimprovementslistedinthe Agreementthatare publicly ownedare ofbenefittotheProjectAreaby helpingto eliminate blightwithintheProjectArea orproviding housingforlow- ormoderate- income persons;(b) no otherreasonablemeans offinancingtheinstallation or construction ofthe publicimprovementslistedintheAgreementthatarepublicly owned areavailabletothecommunity;and(c)theappropriationand payment offundsbythe Agencyforthecost ofthe publicimprovementslistedintheAgreementthatare publicly ownedisconsistentwiththeAgency'scurrentImplementationPlan. 2.TheAgencyherebyapprovestheAgreementandauthorizestheAgency ChairpersontoenterintoandexecutetheAgreementonbehalfoftheAgency, substantiallyintheformonfilewiththeCityClerkandtheAgencySecretary,withsuch revisionsasarereasonablydeterminednecessarybytheAgencysignatory,such determinationtobeconclusivelydeemedtohavebeenmadebytheexecutionofthe AgreementbytheAgencysignatory.TheAgencyExecutiveDirectorisauthorizedto implementtheAgreementandtakeallfurtheractionsandexecuteallotherdocuments whicharenecessary orappropriatetocarry outtheAgreement. 3.TheAgencyherebyapprovesandappropriates(totheextentnotalready appropriated)theamountsnecessarytofundtheAgency'sobligationsundertheAgreement asalawfulexpenditureofAgencyfundsundertheLaw.TheAgency'scurrentfiscalyear budgetis herebyamendedtotheextentnecessarytoimplementtheforegoingappropriation. 4.TheAgencyExecutiveDirectorisherebyauthorizedtotakesuchfurther actionsasmaybenecessary orappropriatetocarryouttheAgency’sobligationspursuant tothisResolutionandtheAgreement. 5.TheAgencySecretary shallcertifytotheadoption ofthisResolution. 6.ThisResolution shalltakeeffectimmediately uponadoption. 2 394\\01\\942281.2 PASSEDANDADOPTEDataregularmeetingoftheRedevelopmentAgencyof theCityofCupertinothis 15th dayofFebruary, 2011,bythefollowing vote: Vote Members oftheRedevelopmentAgency YES: NOES: ABSENT: ABSTAINED: ATTEST:APPROVED: Secretary,City ofCupertinoChairperson,City ofCupertino RedevelopmentAgencyRedevelopmentAgency 3 394\\01\\942281.2