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I RESOLUTION NO. 930 <br /> 2 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br /> 3 RIVERSIDE, CALIFORNIA, ADOPTING FINDINGS AND AUTHORIZING <br /> SHORT TERM LOAN ASSISTANCE TO CONCILIO CHILD <br /> 4 DEVELOPMENT CENTERS FOR THE BENEFIT OF THE UNIVERSITY <br /> CORRIDOR/SYCAMORE CANYON REDEVELOPMENT PROJECT AREA <br /> 5 AND THE CONTINUED OPERATION AND MANAGEMENT OF THE NATI <br /> 6 FUENTES CENTRO DE NINOS CHILDCARE CENTER. <br /> 7 WHEREAS, the Redevelopment Agency of the City of Riverside, California ( "Agency ") <br /> desires and intends to provide financial assistance, through a short term loan, to the Concilio <br /> 9 Child Development Centers to ensure the continued operation and management of the Nati <br /> 10 Fuentes Centro de Ninos Childcare Center located at the City of Riverside's Bordwell Park <br /> ( "Assistance "), located outside the University Corridor /Sycarnore Canyon Redevelopment <br /> 11 <br /> Project Area (the "Project Area "); and <br /> 12 <br /> 13 WHEREAS, Community Redevelopment Law (commencing with Health & Safety Code <br /> 14 Section 33000) ( "CRL ") authorizes certain expenditures outside the project area when they will <br /> eliminate blight within a redevelopment project area; and <br /> 15 <br /> 16 WHEREAS, Health and Safety Code Section 33680 finds and declares a primary purpose <br /> of the CRL being the preservation of jobs and creation of educational and housing opportunities <br /> 17 <br /> for residents residing within the redevelopment project areas so as to improve the baseline for <br /> 18 <br /> economic blight within a given project area; and <br /> 19 <br /> WHEREAS, the Assistance will reduce blight in the Project Area and its surrounding <br /> 20 <br /> neighborhoods by improving the baseline for economic blight within the Project Area; and <br /> 21 <br /> WHEREAS, the Assistance will provide necessary child care services to residents that <br /> 22 <br /> Live in the Project Area and promote the health, safety and welfare of the community. <br /> 23 NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of <br /> 24 <br /> Riverside that staff is hereby authorized to provide financial assistance to the Concilio Child <br /> 25 Development Centers ( "Center ") as described in this resolution, based on the following findings: <br /> 26 <br /> 27 <br /> 28 <br /> 1 <br />