R-667 - Laserfiche WebLink

Home

RESOLUTION NO. 667 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, CALIFORNIA, ADOPTING CERTAIN FINDINGS REGARDING THE CONSTRUCTION AND INSTALLATION OF PUBLIC IMPROVEMENTS WHICH ARE OF BENEFIT TO THE UNIVERSITY CORRDOR/SYCAMORE CANYON PROJECT AREA WHEREAS, the Redevelopment Agency of the City of Riverside ("Agency") desires and intends to install public improvements along Iowa Avenue, Linden Street and University Avenue consisting of construction of sidewalks, medians, drainage channel, signalization and water lines within the University Corridor/Sycamore Canyon Project Area (the "Project Area"); and WHEREAS, the lack of the public improvements on Iowa Avenue in the Project Area creates a safety hazard to pedestrians and serves as a deterrent to the economic health of local businesses and to the establishment of new businesses in the Project Area, thereby constituting economic blight; and WHEREAS, the Iowa Avenue Public Improvements will create visible pedestrian crosswalks, traffic signalization, median, and create an attractive tree-lined avenue, thereby benefiting the Project Area; and WHEREAS, the Iowa Avenue Public Improvement Project is anticipated to attract and encourage new business investment in the Project Area as well as enhance the future development of a student housing project on Iowa Avenue; and WHEREAS, Health and Safety Code Section 33445 provides that the Agency may, with the consent of the legislative body, pay all or part of the value of the land for, and the cost of the installation and construction of, any building, facility, structure, or other improvements which is publicly owned either within or without the Project Area. NOW THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of Riverside hereby: Section 1. That the Iowa Avenue Public Improvement Project will be of benefit to the Project Area in that it will assist in managing existing safety hazards due to limited pedestrian access and improve the overall appearance of Iowa Avenue, Linden Street and University Avenue. Section 2. That there is no other reasonable means of financing the Iowa Avenue: Public Improvements Project available to the community at this time because the Iowa Avenue Public Improvements Project is not within the budget of the City.