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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />Is <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />?R <br />01'Y ATTOWNWS OFFICT <br />3900 MAN STRLE I' <br />RA EaLSDE, CA 92522 <br />(951) 826-5567 <br />RESOLUTION NO. 15 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />RIVERSIDE, CALIFORNIA AS THE SUCCESSOR AGENCY TO THE <br />REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, <br />APPROVING A REIMBURSEMENT AGREEMENT BETWEEN THE <br />SUCCESSOR AGENCY AND THE CITY OF RIVERSIDE RELATING TO <br />THE ACQUISITION OF 3615-3653 MAIN STREET PROJECT <br />WHEREAS, pursuant to Resolution No. 22322, adopted by the City Council of the <br />City of Riverside ("City") on January 10, 2012, the City of Riverside agreed to serve as the <br />Successor Agency ("Successor Agency") to the Redevelopment Agency of the City of Riverside <br />("Redevelopment Agency") commencing upon dissolution of the Redevelopment Agency on <br />February 1, 2012 pursuant to Assembly Bill x1 26 ("AB 26"); and <br />WHEREAS, Health and Safety Code Section 33220 authorized any public body to enter into <br />an agreement with a redevelopment agency for the purpose of aiding and cooperating in the <br />planning, undertaking, construction., or operation of redevelopment projects located within the <br />jurisdiction in which such public body is authorized to act, upon the terms and with or without <br />consideration as such public body determines; and <br />WHEREAS, Health and Safety Code Section 33126(b) authorized redevelopment agencies to <br />enter into contracts with any other public agency pursuant to which the public agency would agree to <br />furnish necessary staff services associated with or required by redevelopment; and <br />WHEREAS, Health and Safety Code Section 33205 authorized redevelopment agencies to <br />delegate to the Jurisdiction that formed the agency any of the powers or functions of the <br />redevelopment agency with respect to the under-taking of a redevelopment project, and authorized <br />such jurisdiction to carry out and perform such powers and functions; and <br />WHEREAS, on July 14, 2009, the governing board of the Redevelopment Agency and the <br />City Council of the City of Riverside approved a five-year loan from the City to the Agency in the <br />amount of $4,500,000, plus interest at the City's pooled investment rate, to facilitate the purchase <br />and repair of the commercial building at 36 Main Street and adjacent parking lot to facilitate <br />the renovation of the historic building and development of the Fox Plaza mixed use project on the <br />adjacent parking lot ("Project"); and <br />