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Resolution Number CRA 04-01-20-01I RESOLUTION NO. CRA 04-01-20-01 A RESOLUTION OF THE BOARD OF DIRECTOR OF THE SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY, SAN JUAN CAPISTRANO, CALIFORNIA, APPROVING FUNDING FOR THE EL CAMINO REAL UTILITY UNDERGROUNDING PROJECT AND MAKING FINDINGS OF BLIGHT ELIMINATION. (CIP NO 108) WHEREAS, the San Juan Capistrano Community Redevelopment Agency ("Agency") is engaged in activities necessary to execute and implement the Redevelopment Plan for the Central Redevelopment Project Area; and, WHEREAS, the City requires the undergrounding of over head utilities where development occurs and the City has built out the area known as the Historic Town Center Park where no other development expected to occur to fund the undergrounding; and, WHEREAS, it is in the community's best interest to ensure the economic vitality of its local small businesses by providing more appealing environment to attract patrons; and, WHEREAS, the undergrounding of utilities will eliminate aesthetically unpleasing sights, enrich view corridors, and augment business revival; and, WHEREAS, the Agency recognizes that there is no other vehicle to fund the public improvement, which is in the best interest of the City of San Juan Capistrano the local businesses, residents, visitors and guests. NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of the San Juan Capistrano Community Redevelopment Agency as follows: Section 1: The Agency finds and determines that the Utility Undergrounding project will eliminate blight in a portion of the Central Project Area, which was declared blighted during Plan Adoption. Section 2: The Agency finds that if not for Agency funding assistance this necessary capital improvement would not be constructed because no other funding source exists. 1 01-20-2004 PASSED, APPROVED, AND ADOPTED this 20th day of January 2004. ATTEST: r. �/� R. MONAHAN, AGENCY SECRETARY STATE OF CALIFORNIA COUNTY OF ORANGE )ss. CITY OF SAN JUAN CAPISTRANO 1, MARGARET R. MONAHAN, appointed Agency Secretary of the Community Redevelopment Agency of the City of San Juan Capistrano, do hereby certify that the foregoing Resolution No. CRA 04-01-20-01 was duly adopted by the Board of Directors of the Community Redevelopment Agency at a regular meeting thereof, held the 20th day of January 2004, by the following vote: AYES: DIRECTORS: Soto, Hart, Swerdlin, Bathgate, and Chairman Gelff NOES DIRECTORS: None ABSENT: DIRECTORS: , None R. MONAHAN, Agency Secretary 2 01-20-2004