RES-ORA-0437 Commercial Rehabilitation Loan Agreement 1717 W Collins AveRESOLUTION NO. ORA-
0437 A RESOLUTION OF THE
ORANGE REDEVELOPMENT AGENCY APPROVING
AND AUTHORIZING THE EXECUTION AND
DELIVERY OF A COMMERCIAL REHABILITATION
LOAN AGREEMENT BY AND BETWEEN THE
ORANGE REDEVELOPMENT AGENCY AND
SYBRON DENTAL SPECIALTIES, INC., RELATING TO
THE REHABILITATION OF FACILITIES LOCATED
AT 1717 WEST COLLINS AVENUE, IN THE
MERGED AND AMENDED PROJECT
AREA WHEREAS, the Orange Redevelopment Agency, a public body, corporate and
politic the Agency), has been duly created, established and authorized to transact business
and exercise its powers under and pursuant to the Community Redevelopment Law of the State
of California (commencing with Section 33000 of the Health and Safety Code of the State
of California);
and WHEREAS, the Agency has adopted an Amended and Restated Redevelopment
Plan for the Orange Merged and Amended Redevelopment Project Area (Project Area) and
is authorized to carry out the redevelopment of the Project Area;
and WHEREAS, in furtherance of the redevelopment of the Project Area, the
Agency,acting under authority of the Community Redevelopment Law, has adopted a
Commercial Rehabilitation Loan Program, under which it may loan funds to owners or tenants for
the purpose of rehabilitating commercial buildings or structures within the Project Area;
and WHEREAS, Sybron Dental Specialties, Inc., a Delaware corporation (Sybron),
has requested a commercial rehabilitation loan in the maximum amount of $1,050,000, to assist
in the financing of improvements to the commercial building and premises located at 1717
West Collins Avenue in the Project Area, subject to the terms and conditions set forth in the form
of the Commercial Rehabilitation Loan Agreement (the Agreement) presented to the Agency
at the meeting at which this Resolution was adopted;
and WHEREAS, the governing board of the Agency has duly considered all of the
terms and conditions of the Agreement as set forth in the agenda report presented to it and
any testimony received at the meeting at which this matter was considered and believes that
the activities described therein are in the best interests of the City of Orange and the health,
safety,morals and welfare of its residents, and in accord with the public purposes and provisions
of applicable State and local law requirements, and that such activities promote the objectives
of the California Community Redevelopment Law as well as the Arnended and
Restated Redevelopment Plan for the Project
NOW, THEREFORE, the Orange Redevelopment Agency resolves, on the basis of the
facts set forth in the agenda report presented to it and any testimony received at the meeting at
which this matter was considered, as follows:
Section 1. The proposed Agreement will be of benefit to the Orange Merged and
Amended Redevelopment Project Area and is in the vital and best interests of the City of
Orange and the heaith, safety and welfare of its residents, and in accord with the public
purposes and provisions of applicable federal, state and local laws and requirements.
Section 2. The Agency approves the Agreement with Sybron in accordance with the
terms and provisions set forth in the agenda report presented to the Agency and any testimony
received at the meeting at which this matter was considered and hereby authorizes and directs
the Chairman or Executive Director of the Agency to execute the Agreement on behalf of the
Agency substantially in the form presented to the Agency, and to take all steps and sign all
documents and instruments to carry out the Agreement on behalf of the Agency.
ADOPTED this 28th day of September, 2004.
j t- 111l
Murphy, Chairm
ATTEST:
M~,{~
I, MARY E. MURPHY, Clerk of the Orange Redevelopment Agency, Orange,
California, do hereby certify that the foregoing Resolution was duly and regularly adopted by
the Orange Redevelopment Agency at a regular meeting thereof held on the 28th day of
September, 2004, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
DIRECTORS: Ambriz, Murphy, Coontz, Cavecche
DIRECTORS: None
DIRECTORS: Alvarez
DIRECTORS: None
M'ry~~~
2