Laserfiche WebLink
ORIGINAL <br />MEMORANDUM OF UNDERSTANDING <br />This Memorandum of Understanding (this "Agreement") is entered into <br />effective as of -~^~- `6 , 2009 ("Effective Date"), by and between the City of <br />San Leandro, a municipal corporation ("City"), and the City of San Leandro <br />Redevelopment Agency, a public body corporate and politic ("Agency"). <br />RECITALS <br />A. Agency is a redevelopment agency formed, existing and exercising <br />its powers pursuant to California Health and Safety Code Section 33000 et seq. <br />("Community Redevelopment Law"). <br />B. The City and the Agency established the Alameda County -City of <br />San Leandro (Joint) Redevelopment Project Area (the "Joint Project Area") <br />pursuant to the redevelopment plan approved and adopted for the Joint Project <br />Area by the City Council of the City of San Leandro by Ordinance No. 93-012 <br />(as subsequently amended, the "Joint Redevelopment Plan"). <br />C. The City and the Agency established the West San <br />Leandro/MacArthur Boulevard Redevelopment Project Area pursuant to a <br />redevelopment plan approved and adopted by the City Council of the City of San <br />Leandro by Ordinance No. 99-025. <br />D. The Agency and the City desire to make a loan of funds in the <br />amount of Two Million Four Hundred and Seventy-Five Thousand Dollars <br />($2,475,000) (the "Loan") from the West San Leandro/MacArthur Boulevard <br />Project Area to the Joint Project Area to assist in the acquisition of certain real <br />property located at 1550 East 14th Street in the Joint Project Area (the <br />"Property"). <br />E. The Agency's governing board has determined that the acquisition <br />of the Property will assist in the elimination of blight in the Joint Project Area, will <br />assist in the redevelopment of the Property, and will be consistent with the Joint <br />Redevelopment Plan and the Implementation Plan adopted in connection <br />therewith. <br />F. The Agency's governing board has further determined that the <br />making of the Loan will not impair the Agency's ability to carry out the <br />redevelopment plan for the West San Leandro/MacArthur Boulevard <br />Redevelopment Project Area. <br />