RDA Reso 2005-015 - Laserfiche WebLink

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WHEREAS, the Redevelopment Agency of the City of San Leandro (the "Agency") is engaged in the Davis Street/East 14th Street Lighting and Pedestrian Improvements project within and adjacent to the Plaza Redevelopment Project Area ("Project Area"), which will benefit the Project Area by upgrading the appearance of the Project Area and attract new businesses and local residents to the Project Area; and WHEREAS, on December 6, 2004, the Agency approved Resolution No. 2004-23 adopting the 2004-2009 Implementation Plan for the Project Area, which identifies the Davis Street/East 14th Street Lighting and Pedestrian Improvements project and similar downtown pedestrian enhancements as being of the highest priority in implementing the objectives of the Agency to eliminate or reduce blight and blighted conditions presently existing in the Project Area; and WHEREAS, on December 5,2002, the Agency issued $15,935,000 in Tax Allocation Bonds for the Project Area to assist in financing, in part, the Davis Street/East 14th Street Lighting and Pedestrian Improvements project; and WHEREAS, no other means of financing the installation of the Davis Street/East 14th Street Lighting and Pedestrian Improvements project is available to the community in that the only other possible source of funding is through the use of the City's General Fund, which is pledged for the provision of essential City services for the residents of the City; and WHEREAS, the construction of certain structures and improvements within the Project Area is a direct benefit in achieving the goals and objectives stated in the adopted Five Year Implementation Plan by allowing for continuous enhanced and safe pedestrian and vehicular travel along East 14th Street and Davis Street, both facilities being within the Project Area; and WHEREAS, the City of San Leandro (the "City") has reviewed and considered the RESOLUTION NO. 2005-015 RDA 2