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RESOLUTION NO. 654 2 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY 3 OF RIVERSIDE, CALIFORNIA, APPROVING PAYMENT BY THE REDEVELOPMENT AGENCY FOR ALL OR A PART OF THE VALUE OF 4 THE LAND FOR AND THE COST OF THE INSTALLATION AND CONSTRUCTION OF CERTAIN PUBLIC IMPROVEMENTS WHICH ARE s OF BENEFIT TO THE UNIVERSITY CORRIDOR/SYCAMORE CANYON MERGED PROJECT AREA 6 7 WHEREAS, pursuant to the provisions of the Community Redevelopment Law 8 (Health and Safety Code Section 33000, et seq.), and in particular Section 33445 thereof, the 9 Redevelopment Agency of the City of Riverside (the "Agency") proposes to pay for all or a ~_ 0 part of the value of the land for and the cost of the installation and construction of certain ~_ ~_ facilities, structures and other improvements which are publicly owned within the University 3_2 Corridor/Sycamore Canyon Merged Project Area. :1_3 NOW THEREFORE, the Redevelopment Agency of the City of Riverside hereby 2_4 resolves as follows: 15 Section 1. The Agency proposes to pay for all of a part of the value of the land for 2_ 6 and the cost of installing and constructing the following described facilities, structures and 3_ 7 improvements (the "Improvements"): 2_ 8 (a) Off-site improvements including, but not limited to, signalization at the main 19 entrances, curbs, gutters, sidewalks, lighting, storm drain improvements, and 2 0 underpass pedestrian improvements serving the University Village 2 1 Development. 2 2 (b) The extension of Sycamore Canyon Boulevard from its current terminus at 2 3 Eastridge northerly to State Route 60. 24 (c) University Avenue streetscape between Ottawa Avenue and Comer Avenue 2 5 including, but not limited to, curbs, gutters, sidewalks, lighting, pavement, 2 6 landscaped medians, pedestrian facilities and bus shelters. 2 7 (d) Rail improvements and related facilities in the Sycamore Canyon area, 2 8 including, but not limited to, spur lines. 990122 11304-00002 rdh 1673597 0