CRA - 79RESOLUTION NO. cP~A-79
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CYPRESS
GRANTING AN EXCLUSIVE RIGHT TO NEGOTIATE WITH
KRIKORIAN PREMIERE THEATERS FOR A THEATER/ENTERTAINMENT
DEVELOPMENT IN THE LINCOLN AVENUE REDEVELOPMENT PROJECT AREA
(GENERALLY LOCATED AT 5800 LINCOLN AVENUE).
WHEREAS, the Redevelopment Agency of the City of Cypress commissioned an
economic study of the Lincoln Avenue Corridor and found it to be lacking in entertainment type
land uses.
WHEREAS, the Redevelopment Agency of the City of Cypress sent out information
packets to theater developers/theater owners in order to gauge the interest in that type of
development on Lincoln Avenue.
WHEREAS, the Redevelopment Agency of the City of Cypress has completed the
requirements and adhered to the Lincoln Avenue Project Area Owner Participation Rules as
required by the Lincoln Avenue Redevelopment Plan.
WHEREAS, the Redevelopment Agency of the City of Cypress has completed the
Request for Proposal process for a Theater/Entertainment use on Lincoln Avenue to help
eliminate blight in the project area and to increase the economic vitality of the Lincoln Avenue
Corridor and the City.
NOW, THEREFORE, THE CYPRESS REDEVELOPMENT AGENCY OF THE CITY
OF CYPRESS DOES HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:
1. The Redevelopment Agency of the City of Cypress hereby agrees to negotiate
exclusively with Krikorian Premier Theaters for a period not to exceed sixty (60) days, subject
to the terms of the Exclusive Right to Negotiate agreement (Attachment "A").
PASSED AND ADOPTED by the Cypress Redevelopment Agency at a regular meeting
held on the 28th day of August , 1995.
ATTEST:
SEC~TARY- '
CYPRESS REDEVELOPMENT AGENCY
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
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 28th day of August , 1995, by the
following roll call vote:
AYES: 4 AGENCY MEMBERS: Bowman, Carroll, Kerry and Age
NOES: 0 AGENCY MEMBERS: None
ABSENT: 1
AGENCY MEMBERS: Jones
CYPRESS REDEVELOPMENT AGENCY
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