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I RESOLUTION NO. 24 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF 2 RIVERSIDE, CALIFORNIA AS THE SUCCESSOR AGENCY TO THE 3 REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE ADOPTING FINDINGS PURSUANT TO HEALTH & SAFETY CODE 4 SECTION 33445 FOR THE FUTURE ACQUISITION OF 3093 KANSAS AVENUE WHICH IS OF BENEFIT TO THE MERGED UNIVERSITY 5 CORRIDOR AND SYCAMORE CANYON REDEVELOPMENT PROJECT AREA. 6 7 WHEREAS, on January 10, 2012, the City Council adopted Resolution No. 22322 re- 8 affirming the election of the City of Riverside to become Successor Agency to the Redevelopment 9 Agency of the City of Riverside ("Successor Agency")pursuant to AB xl 26; and 10 WHEREAS, SmartRiverside, a nonprofit coalition of partners whose vision is to establish the 11 City of Riverside as an internationally recognized center for innovation, currently operates out of a 12 4,200 square foot building located at 2801 Hulen Place within the Riverside Homeless Campus; and 13 WHEREAS, pursuant to Health and Safety Code section 33445, the Successor Agency is required to adopt a resolution making certain findings regarding the use of bond funds necessary to 14 acquire the Property,q p rty, which is of benefit to the Merged University Corridor and Sycamore Canyon 15 Redevelopment Project Area; and 16 WHEREAS, in order to better serve the local homeless population, it was recently concluded 17 that the Riverside Homeless Campus must be expanded to offer life skills workshops, shower and 18 laundry facilities and other service related areas to address the basic needs of Riverside's homeless 19 population; and 20 WHEREAS, the proposed expansion of the Riverside Homeless Campus necessitates the 21 relocation of SmartRiverside; and 22 WHEREAS, pursuant to Health and Safety Code section 34191.4(c), the Successor Agency 23 is permitted to spend, in a manner consistent with the original bond covenants, excess bond proceeds 24 from bonds issued prior to 2011 and such expenditures of excess pre-2011 bond proceeds ("Bond 25 Proceeds") are considered enforceable obligations to be separately listed on the Recognized 26 Obligation Payment Schedule("ROPS") submitted by the Successor Agency; and W p 27 WHEREAS, the City Council approved the expenditure of the Bond Proceeds on September 7R 1 9, 2014 for the future acquisition of 3093 Kansas Avenue for the relocation of SmartRiverside; and Cm ATTORNEY'S OFFICE 3900 MAIN STREET RIVERSIDE,CA 92522 (951)826.5567