RDA Reso 2008-016 - Laserfiche WebLink

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priority in implementing the objectives of the Agency to eliminate or reduce blight and blighted conditions presently existing in the Project Areas; and WHEREAS, on December 5, 2002, the Agency issued $15,935,000 in Tax Allocation Bonds for the Plaza Redevelopment Project Area to assist in financing, in part, the Downtown Lighting and Pedestrian Improvements, Project 07-961-83-054; and WHEREAS, tax increment funds are also available from the Plaza and Joint Redevelopment Project Areas to assist in financing, in part, the Downtown Lighting and Pedestrian Improvements, Project 07-961-83-054; and WHEREAS, no other reasonable means of financing the installation of the Improvements, is available to the community in that the only other possible source of funding is through the use of the City's General Fund and that is pledged for the provision of essential City services for the residents of the City such as police and fire services; and WHEREAS, the construction of certain structures and improvements within the Project Areas is a direct benefit in achieving the goals and objectives stated in the adopted Five Year Implementation Plan; and WHEREAS, the City of San Leandro (the "City") has reviewed and considered the Categorical Exemption prepared for the project and hereby finds that the project will not have a significant effect on the environment. NOW, THEREFORE, the Redevelopment Agency of the City of San Leandro does RESOLVE, DECLARE, DETERMINE, AND ORDER, as follows: Section 1. The Redevelopment Agency of the City of San Leandro hereby specifically finds that all of the facts stated above are true and correct. Section 2. The Redevelopment Agency of the City of San Leandro hereby authorizes the allocation and expenditure of up to $2,632,000 of the proceeds from tax allocation bonds issued by the Agency for the Downtown Lighting and Pedestrian Improvements, Project 07-961- 83-054. Section 3. That the Redevelopment Agency of the City of San Leandro hereby authorizes the additional allocation and expenditure of up to $1,100,000 from available tax increment in the Plaza Redevelopment Project Area for the Downtown Lighting and Pedestrian Improvements, Project 07-961-83-054, if needed, and Section_4. That the Redevelopment Agency of the City of San Leandro hereby authorizes the additional allocation and expenditure of up to $630,000 from available tax increment in the Alameda County-City of San Leandro Redevelopment Project Area for the Downtown Lighting and Pedestrian Improvements, Project 07-961-83-054, if needed, and RESOLUTION NO. 2008-016 RDA 2