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[Binder Tab No. 13] <br /> RESOLUTION NO. 623 <br /> <br /> A RESOLUTION OF THE REDEVELOPMENT AGENCY OF <br /> THE CITY OF RIVERSIDE FINDING THAT SIGNIFICANT <br /> BLIGHT REMAINS WITHIN THE CENTRAL INDUSTRIAL <br /> PROJECT AREA AND SYCAMORE CANYON AND BOX <br /> SPRINGS INDUSTRIAL PARK PROJECT AREA, AND SUCH <br /> BLIGHT CANNOT BE ELIMINATED WITHOUT THE <br /> ESTABLISHMENT OF ADDITIONAL DEBT <br /> <br /> WHEREAS, the Redevelopment Agency of the City of Riverside ("Agency") has <br />proposed amendments to the Redevelopment Plans which include the merger of Central Industrial <br />Redevelopment Project and Sycamore Canyon and Box Springs Industrial Redevelopment Project <br />(the "Amendments") to, among other things, extend the debt establishment time limits; and <br /> <br /> WHEREAS, Section 33333.6(a)(2) of the Health and Safety Code allows, by the <br />Amendments of the Redevelopment Plans, an extension of the debt establishment time limitations <br />after the Agency makes a finding based on substantial evidence that: 1) significant blight remains <br />within one or more of the projects; and 2) such blight cannot be eliminated without the establishment <br />of additional debt; and <br /> <br /> WHEREAS, the Agency has provided in Part II of its Report to City Council on the <br />Proposed Amendments to the Redevelopment Plans Including the Merger of Central Industrial <br />Redevelopment Project and Sycamore Canyon and Box Springs Industrial Park Redevelopment <br />Project ("Report to City Council") substantial evidence that substantial blight remains in the projects, <br />and substantial evidence that such blight cannot be eliminated without the establishment of additional <br />debt. <br /> <br />NOW, THEREFORE, THE RIVERSIDE REDEVELOPMENT AGENCY <br />DOES HEREBY RESOLVE AS FOLLOWS: <br /> <br /> The Agency hereby finds that, based on substantial evidenced as contained in the <br />Agency's Report to City Council, incorporated herein by this reference, that significant blight remains <br />in the Central Industrial Redevelopment Project and Sycamore Canyon and Box Springs Industrial <br />Park Redevelopment Project and such blight cannot be eliminated without the establishment of <br />additional debt. <br /> <br /> APPROVED AND ADOPTED this24thday of 3une , 1997. <br /> <br /> ??' Chairpe~ <br /> Terri Thompson, <br /> <br />ATTEST: <br /> <br />Sg'6retar37 of't~ Red~lopment Agency <br />of the City ~ide <br /> <br />7374.fiv/213 <br />{~1397/dSw <br /> <br /> <br />