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RESOLUTION NO. 938 <br />A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br />RIVERSIDE, CALIFORNIA, ADOPTING FINDINGS PURSUANT TO <br />HEALTH & SAFETY CODE SECTION 33445 AND AUTHORIZING <br />PAYMENT OF THE VALUE OF LAND FOR PUBLICLY OWNED <br />PROJECTS WITHIN THE MERGED DOWNTOWN /AIRPORT INDUSTRIAL <br />AND HUNTER PARK/NORTHSIDE REDEVELOPMENT PROJECT AREA <br />FOR REID PARK. <br />WHEREAS, the Redevelopment Agency of the City of Riverside, California ( "Agency ") <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />desires and intends to reimburse the City the value of the Reid Park land to ensure its permanent <br />use as a public park ( "Park Land ") within the Merged Downtown/Airport Industrial and Hunter <br />Park/Northside Redevelopment Project Area (the "Project Area'); and <br />WHEREAS, Health and Safety Code Section 33445 provides that the Agency may, with <br />the consent of the legislative body, pay all or park of the value of the land for, and the cost of the <br />installation and construction of, any building, facility, structure, or other improvement that is <br />publicly owned cither within or without the Project Area; and <br />WHEREAS, the reimbursement for the Park Land will reduce blight in the Project Area <br />and its surrounding neighborhoods; and <br />WHEREAS, the reimbursement of the Park Land will allow for the preservation of Reid <br />Park as a permanent public park and will provide enhanced recreational opportunities in the <br />Project Area and promote the health, safety and welfare of the community; and <br />WHEREAS, the legislative body of the Agency has consented to the Agency's <br />reimbursing the City for the cost of the Park Land. <br />NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of <br />Riverside that staff is hereby authorized to reimburse the City of Riverside for the value of the <br />Park Land as described in this resolution, based on the following findings: <br />Section 1 . The creation of permanent Park Land benefits the Project Area by helping to <br />eliminate blight within the Project Area. Inadequate park improvements and facilities are a <br />source of physical blight within the Project Area. Maintaining the Park Land as a public park <br />will enhance public recreational facilities and will aid in eliminating blight. <br />1 <br />