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HomeMy WebLinkAbout17893 - RESOLUTIONS - 6/23/1992 RESOLUTION NO. 17893 OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA MAKING CERTAIN FINDINGS PURSUANT TO HEALTH AND SAFETY CODE SECTION 33445 RELATING TO PAYMENT OF ALL OR PART OF THE VALUE OF LAND FOR AND THE COST OF THE INSTALLATION AND CONSTRUCTION OF CERTAIN BUILDINGS, FACILITIES, STRUCTURES, AND OTHER IMPROVEMENTS WITHIN CERTAIN PROJECT AREAS WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency") adopted the Redevelopment Plan for the Central Business District Project ("Central Business District") on July 27, 1973, pursuant to Ordinance No. 952 (the "Central Business District Plan") ; and WHEREAS, the Agency adopted the Redevelopment Plan for the Baristo-Farrell Project on June 6, 1986, pursuant to Ordinance No. 1264 (the "Baristo-Farrell Plan"); and WHEREAS, the Agency adopted the Redevelopment Plan for Redevelopment Project No. 9 on December 21 , 1988 pursuant to Resolution No. 583 (the "Project No. 9 Plan"); and WHEREAS, the Agency has acquired, or will acquire, certain land (the "Land") and has constructed, or will construct, certain buildings, facilities, structures, and other improvements (collectively "Improvements") within the Project Areas described above which are, or will become, publicly-owned within the meaning of Health & Safety Code Section 33445 (the "Statute"); WHEREAS, the Members of of the City Council of the City of Palm Springs (the "City Council") have determined that certain publicly-owned Improvements within the meaning of the Statute, located within one Project Area are of benefit to certain Project Areas other than the Project Area in which the Land and/or Improvements are physically 'located; and WHEREAS, the City Council has determined that absent the payment of certain project costs by project areas which receive benefit from the land and/or improvements, but in which the Land and/or Improvements are not physically located, no other reasonable means of financing such Land and/or Improvements are available to the community; and w WHEREAS, all of the findings and determinations made herein were based upon careful consideration and analysis of all relevant and available evidence NOW, THEREFORE, the City Council does hereby resolve and determine as follows: Section 1 . The renovation, rehabilitation and purchase of the Plaza Theatre, which constitutes a publicly-owned building, facility, structure or improvement within the meaning of the Statute physically located within the Central Business District Project, is of benefit to the + Baristo-Farrell Project, and Project No. 9 and the immediate neighborhoods in which said project areas are located, in that the Plaza Theatre, by attracting patrons into said projects and the immediate neighborhoods in which said projects are located, (i ) enhances the revitalization of the City's retail and commercial areas located within the above-described projects; (ii ) increases employment within the above-described projects; (iii ) generates extra tax revenues for the i Res. No. 17893 Page 2 use of the Agency within the above-described projects; (iv) enhances the marketability of commercial and retail property within the above-described projects; and (v) contributes to the elimination of blight in the above-described projects. Section 2. Based upon the benefit findings contained in Section 1 above, the Agency is hereby authorized to repay certain obligations arising from the lease purchase of the Plaza Theatre, and such repayments shall be in equal amounts from the project areas noted in Section 1 above. The total debt as of July 1 , 1991 is $1 ,689,513. Section 3. The obligations of the Agency pertain to, among other things, the Land and Improvements generally described in Section 1 above. These are valid and binding obligations of the Agency which must be repaid. Through adoption of this Resolution, the City Council specifically determines and finds that no other reasonable means of financing such Land and improvements were or are available to the community except as provided herein. Section 4. Based upon the findings contained in Sections 1-3 above, the City Council specifically authorizes and approves the repayment of the obligations pursuant to the terms and conditions of the Lease Purchase Agreement (#201 , 2/l/89). Section 5. This Resolution shall take effect from and after the date of its passage and adoption. Adopted this 23rd day of June: 19�. AYES: Councilmembers Lyons, Reller and Mayor Maryanov NOES: Councilmembers Hodges and Schlendorf ABSENT: None AT THE IT PALM CALIFORNIA City Clerk City Mandiger REVIEWED & APPROVED_ 'L�_� w a'