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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />to <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />RESOLUTION NO. 22 <br />A RESOLUTION OF THE OVERSIGHT BOARD FOR CITY OF <br />RIVERSIDE AS SUCCESSOR AGENCY TO THE REDEVELOPMENT <br />AGENCY OF THE CITY OF RIVERSIDE AUTHORIZING THE <br />EXECUTION OF COMPLETION DOCUMENTS PURSUANT TO THE <br />RIVERSIDE PLAZA DISPOSITION AND DEVELOPMENT <br />AGREEMENT. <br />WHEREAS, on January 10, 2012, the City Council adopted Resolution No. 22322 re- <br />affirming the City of Riverside decision to become the Successor Agency to the Redevelopment <br />Agency of the City of Riverside ("Successor Agency") pursuant to ABx1 26; and <br />WHEREAS, subsequent legislation entitled "Assembly Bill 1484", signed into law on June <br />27, 2012, made substantive amendments to ABx1 26 and specifically included a requirement, set <br />forth. in Health and Safety Code section 34179 (e), that all actions taken by the oversight board be <br />adopted by resolution; and <br />WHEREAS, pursuant to Health and Safety Code sections 34167(d)(5) and 34171(d)(1)(E), <br />an enforceable obligation includes any legally binding and enforceable agreement or contract that is <br />not otherwise void as violating the debt limit or public policy; and <br />WHEREAS, pursuant to Health and Safety Code section 34167(f) - nothing in regard to the <br />winding down of the former Redevelopment Agency shall interfere with the agency's authority to <br />perform its obligations; and <br />WHEREAS, on July 26, 2002, the former Redevelopment Agency of the City of Riverside <br />("Agency") entered into the Riverside Plaza Disposition and Development Agreement ("DDA") <br />with Westminster Central LLC ("Westminster") for the redevelopment of the Riverside Plaza <br />Shopping Center ("Riverside Plaza"); and <br />WHEREAS, the DDA provided that the Agency would execute a Project Certificate of <br />Completion and a Retail Center Certificate of Completion once the redevelopment of the Riverside <br />Plaza was complete; and <br />WHEREAS, the DDA also provided a Guaranty by Westminster for the reimbursement of <br />26 <br />27 <br />28 <br />Cii ATTamNEy'S OFMCF, <br />3900MA;NSTREET <br />RIVERSIDF, CA 92522 <br />(9R) 826-5567 <br />funds to the Agency in connection with the acquisition of a parcel included in the Riverside Plaza; <br />and <br />