RES-ORA-0522 Hotel Rehabilitation Loan Program ApprovalRESOLUTION NO. ORA -0522
A RESOLUTION OF THE ORANGE
REDEVELOPMENT AGENCY APPROVING A
HOTEL REHABILITATION LOAN PROGRAM FOR
THE ORANGE MERGED AND AMENDED
REDEVELOPMENT 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; herein referred to as the Redevelopment Law); and
WHEREAS, pursuant to the Redevelopment Law, the Amended and Restated
Redevelopment Plan (the "Redevelopment Plan) for the Orange Merged and Amended
Redevelopment Project Area (the Redevelopment Project Area) was duly adopted by the City
Council of the City of Orange on November 27, 2001 by Ordinance No. 21 -01; and
WHEREAS, pursuant to Section 33444.5 of the Redevelopment Law, the Board of
Directors of the Agency (the Agency Board) may establish a program under which it loans
funds to owners or tenants for the purpose of rehabilitating commercial buildings or
structures within the Redevelopment Project Area; and
WHEREAS, pursuant to Section 33444.5 of the Redevelopment Law and in
furtherance of the Redevelopment Plan, the Agency Board desires to establish the Hotel
Rehabilitation Loan Program, which is more particularly described on Exhibit A attached
hereto, under which it will loan funds from the tax increment revenues of the Redevelopment
Project Area, bond proceeds, and any other funds of the Agency legally available therefor to
qualified owners or business tenants within the Redevelopment Project Area;
WHEREAS, the Agency Board has duly considered all of the terms and conditions
of the proposed Hotel Rehabilitation Loan Program as 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 Redevelopment Law, as well as the Redevelopment Plan for the Redevelopment Project
Area.
NOW, THEREFORE, be it resolved by the Board of Directors of the Orange
Redevelopment Agency, 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 foregoing recitals are true and correct.
Section 2. The proposed Hotel Rehabilitation Loan Program, in the form attached
hereto as Exhibit A, will be of benefit to the Redevelopment Project Area and is in the vital
and best interests of the City of Orange and the health, 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 3. The Agency approves the Hotel Rehabilitation Loan Program in the form
attached hereto as Exhibit A.
ADOPTED this 14 day of September, 2010.
c
Cavecche, Chairman
ATTEST:
Mary u , Agency C
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 14 day of
September, 2010, by the following vote:
AYES: DIRECTORS: Smith, Murphy, Cavecche, Dumitru, Bilodeau
NOES: DIRECTORS: None
ABSENT: DIRECTORS: None
ABSTAIN: DIRECTORS: None
Mary E hy, Agenc
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