RES-ORA-0292 Participation Agreement by and between Redevelopment Agency and Sybron Dental SpecialtiesRESOLUTION NO. ORA-
0292 A RESOLUTION OF THE ORANGE
REDEVELOPMENT AGENCY APPROVING AND AUTHORIZING
THE EXECUTION OF A PARTICIPATION AGREEMENT BY
AND BETWEEN THE ORANGE REDEVELOPMENT AGENCY
AND SYBRON DENTAL SPECIALTIES; 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 PARTICIPATION
AGREEMENT MAXIMUM $700,000, 1717 WEST COLLINS AVENUE
IN THE NORTHWEST PROJECT
AREA)WHEREAS, the Orange Redevelopment Agency ("Agency") is authorized to carry
out the redevelopment 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 a Participation Agreement ("PA")
with Sybron Dental Specialties, a California corporation (the "Participant"), in the form
presented to the Agency at the meeting at which this resolution was adopted;
and WHEREAS, pursuant to the PA, the Agency is to pay the amount of not to
exceed SEVEN HUNDRED THOUSAND DOLLARS ($700,000) (the "Maximum
Assistance Amount") toward improvements which the Participant desires to undertake on certain
property within the Project Area and commonly known as 1717 West Collins Avenue,
Orange,California (the "Site");
and WHEREAS, the Participant has indicated that but for the agreement of the
Agency pursuant to the P 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 PA will be applied
only for improvements which are provided for in the Redevelopment Plan for the Project Area;
VffiEREAS, 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 project is located and that there are no other reasonable means of financing such public
improvements available to the community; and
WHEREAS, the use of monies payable by the Agency pursuant to the PA 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 P 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
PAis 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 Age:ncy pursuant to the P A and that there are no other reasonable means of financing such
public improvements.
Section 4: The Agency approves the PA and authorizes and directs the Executive
Director and the Agency Clerk to execute the P A and such other documents as may be
necessary or convenient to the implementation of the P A.
PASSED, APPROVED, AND ADOPTED this 23rddayof May 1995.
ORANGE REDEVELOPMENT AGENCY,
a public b~dy) corporate and politic
1
By.. . ' " //~ ~J~, ' / /' f<~7 .., ~//
Jbanne Coontz, Chairman //I ~/
I'ATTEST:MARILYN
J.
JENSEN
Marilyn
Jensen, Agency Clerk
BY:~~ t~~~;t Asslstant
er
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
Orange: 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
MARIL YN J. JENSEN
Marilyn Jensen, Agency Clerk
Ic/05239517reso-
1I0292 By:~&
k~ssistant