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CRA - 75RESOLUTION NO. A RESOLUTION OF THE CYPRESS REDEVELOPMENT AGENCY MAKING STATUTORY FINDINGS AUTHORIZING PAYMENT FOR THE CONSTRUCTION OF PUBLIC IMPROVEMENTS LOCATED IN THE CIVIC CENTER REDEVELOPMENT PROJECT AREA (GENERALLY LOCATED AT 9031 GRINDLAY STREET). WHEREAS, the Community Redevelopment Law of the State of California (Health and Safety Code Sections 33000 et seq.), among other provisions granting powers to redevelopment agencies, contains Section 33445 which provides that a redevelopment agency, with the consent of the legislative body, may pay all or part of the value of the land for the cost of the installation and construction of any building, facility, structure or other improvement which is publicly owned either within or without a project area upon a determination by such agency and such legislative body by resolution that such building, facility, structure or other improvement is of benefit to such project area and that no other reasonable means of financing the same are available to the community. WHEREAS, the officially adopted redevelopment plan of the Cypress Redevelopment Agency ("Agency") for its Civic Center Project Area describes in part for the construction of certain public improvements in order to provide project area residents and citizens with needed public infrastructure. NOW, THEREFORE, the Redevelopment Agency of the City of Cypress does hereby resolve, determine and order as follows: 1. This Agency hereby finds that the facts set forth in the Recitals, hereinabove are true and correct. 2. This Agency hereby specifically finds and determines that the construction of public utilities along the north property of 9031 Grindlay Street in order to service the rear parcel and this Agency's funding thereof will be of benefit to the Civic Center Project Area. 3. This Agency hereby specifically finds that there exists no other reasonable means to finance this project. The Agency requested funds from the City of Cypress, and the City was not able to assist financially. 4. This Agency therefore hereby specifically finds and determines that no other reasonable means of financing is available to the community to construct the facility other than through this Agency's partial funding thereof. 5. This Agency hereby specifically finds that the financial obligations which it will undertake to cause the construction of certain public improvements will not impair its ability to discharge any financial obligation previously undertaken by it with respect to its Civic Center Project Area. PASSED AND ADOPTED by the governing body of the Cypress Redevelopment Agency on the 13th day of September , 1993. -1- ATTEST: SECRE~,,~.'Y OF Y~IE CYPRESS REDEVELOPMENT AGENCY STATE OF CALIFORNIA ) COUNTY OF ORANGE ) $$ I, DARRELL ESSEX, Secretary of the Cypress Redevelopment Agency, DO HEREBY CERTIFY that the foregoing Resolution was duly adopted at a regular meeting of the said Cypress Redevelopment Agency held on the 13th day of September ,1993, by the following roll call vote: AYES: 5 AGENCY MEMBERS: Age, NOES: 0 AGENCY MEMBERS: None Bowman, Nicholson, Partin and Kerry ABSENT: 0 AGENCY MEMBERS: None ? CYPRESS REDEVELOPMENT AGENCY -2-