HomeMy WebLinkAboutReso RDA 5-1993 RESOLUTION NO. 5-93
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF SOUTH SAN FRANCISCO RELATING TO
THE GATEWAY PROJECT AREA AND AUTHORIZING
BUDGET AMENDMENT 93-5 TO THE 1992-1993
OPERATING BUDGET
WHEREAS, the Redevelopment Agency Board approved the
issuance of bonds to repay a portion of the outstanding debt to
Homart Corporation and an amended Owner Participation
Agreement; and
WHEREAS, the Owner Participation Agreement establishes
that the remainder of the debt be repaid from available tax
increment and provides for a second bond issue at such time as
sufficient increment is received to support it; and
WHEREAS, the Agency wishes to engage Keyser Marston
Associates to complete a study of the development plans of the
property owners within the project area and to develop
utilization and/or marketing alternatives.
WHEREAS, since the study will benefit both the Agency and
Homart, Homart has agreed to provide $15,000 for the funding.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency
of the City of South Francisco as follows:
1. Adopt Budget Amendment 93-5 appropriating $15,000 to
the Gateway Project Area for the cost of consultant services.
2. Upon receipt of $15,000 from Homart, the Executive
Director is hereby authorized to execute the agreement with
Keyser Marston Associates to develop a utilization plan for the
Gateway Project area. A copy of the Ageement is on file in the
Office of the City Clerk.
* * * * * * * *
I hereby certify that the foregoing Resolution was
regularly introduced and adopted by the Redevelopment Agency of
the City of South San Francisco at a re§u]ar meeting
held on the 24th day of February , 1~9~ by the
following vote.
AYES: Boardmembers Jack Drago, Joseph A. Fernekes, John R. Penna
Robert Yee, and Chairwoman Roberta Cerri Teglia
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST-.
Redevelopment Agency o~ the
City of South San Francisco