RES-ORA-0291 Participation Agreement by and between teh RedevelopmentRESOLUTION NO. ORA-
0291 A RESOLUTION OF THE ORANGE
REDEVELOPMENT AGENCY APPROVING AND AUTHORIZING
THE EXECUTION OF A PARTICIPATION AGREEMENT BY
AND BETWEEN THE ORANGE REDEVELOPMENT AGENCY
AND HAMILTON MATERIALS, INC.; DETERMINING THAT
THE CONSTRUCTION OF CERTAIN IMPROVEMENTS,
THE COST OF WHICH IS TO BE PARTIALLY BORNE BY
THE AGENCY, IS OF BENEFIT TO THE
NORTHWEST REDEVELOPMENT PROJECT AREA AND THE
IMMEDIATE NEIGHBORHOOD IN WHICH THE PROJECT IS
LOCATED;DETERMINING THAT THERE ARE NO
OTHER REASONABLE MEANS OF FINANCING
SAID IMPROVEMENTS; AND AUTHORIZING THE
EXECUTION AND DELIVERY OF SAID OWNER
PARTICIPATION AGREEMENT (MAXIMUM $600,000, 345 WEST
MEATS A VENUE IN THE NORTHWEST PROJECT
AREA)WHEREAS, the Orange Redevelopment Agency ("Agency") is authorized to carry
out the redc~velopment of the Northwest Redevelopment Project Area ("Project Area");
and WHEREAS, the Redevelopment Plan for the Project Area allows the Agency to pay
all or part of the value of the construction of certain improvements;
and WHEREAS, the Agency desires to enter into an Owner Participation
Agreement OPA") with Hamilton Materials, Inc., a California corporation (the "Participant"), in
the form pJresented to the Agency at the meeting at which this resolution was adopted;
and WHEREAS, pursuant to the OPA, the Agency is to pay the amount of not to
exceed SIX HUNDRED THOUSAND DOLLARS ($600,000) (the "Maximum Assistance
Amount")toward improvements which the Participant desires to undertake on certain property within
the Project Area and commonly known as 345 West Meats Avenue, Orange, California (
the Site");
and WHEREAS, the Participant has indicated that but for the agreement of the
Agency pursuant to the OP A as proposed, the cost of proceeding with the improvement of the
Site would be infeasible;
and WHEREAS, the monies payable by the Agency pursuant to the OPA will be
applied only for improvements which are provided for in the Redevelopment Plan for the
Project Area;
WHEREAS, California Health and Safety Code Section 33444.6(a) provides that a
redevelopment agency may, with the consent of the legislative body, pay all or part of the
value of public buildings, facilities, structures or other improvements upon a finding that such
public improvements are of benefit to the project area or the immediate neighborhood in which
the projec~t is located and that there are no other reasonable means of financing such public
improvements available to the community; and
VHEREAS, the use of monies payable by the Agency pursuant to the OPA for
improvements within the Project Area will be of benefit to the Project Area.
NOW, THEREFORE, the Orange Redevelopment Agency does hereby resolve as
follows:
Section 1: The Agency hereby approves the form of the OP A with the Participant
presented at the meeting at which this resolution was adopted.
Section 2: The Agency hereby determines that the acquisition, construction, and
installation of improvements to be paid for using monies paid by the Agency pursuant to the
OP A is of benefit to the Project Area and the surrounding neighborhood in which the project is
located.
Section 3: The Agency hereby determines that it is appropriate to construct and install
or cause: the construction and installation of improvements to be paid for using monies paid by
the Agency pursuant to the OP A and that there are no other reasonable means of financing
such public improvements.
ection 4: The Agency approves the OPA and authorizes and directs the Executive
Director and the Agency Clerk to execute the OP A and such other documents as may be
necessary or convenient to the implementation of the OP A.
PASSED, APPROVED, AND ADOPTED this 23rdday of Mav 1995.
ORANGE REDEVELOPMENT AGENCY,
a public bod;, corporate and politic
By:
J.' / .. i' /.
i .- ~.~:./
J.~{
2- f...--AY-/ , _ ~7J?Joanne
Coontz, Chairman //J c
ATTEST:
MARILYN
J. JENSEN Marilyn
Jensen, Agency Clerk By:_
r14~ ( (!d~--;(Assista~ Clerk
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
Orang1e Redevelopment Agency at a regular meeting thereof held on the 23rd day of
May , 1995, by the following vote:
AYES:
DIRECTORS: MURPHY, BARRERA, COONTZ, SPURGEON, SLATER NOES:
DIRECTORS: NONE ABSENT:
DIRECTORS: NONE ABSTAIN:
DIRECTORS: NONE MARILYN
J. JENSEN .Marilyn
Jensen, Agency Clerk Ic/
052395c/reso-l/0291
BY:~~1'Jlld~:t