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RESOLUTION NO. 739 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 CASA BLANCA PROJECT AREA WHEREAS, the Redevelopment Agency of the City of Riverside ("Agency") desires and intends to install public improvements along the north side of Indiana Avenue consisting of sidewalks, curb, gutter, the capping of water main lines and the relocation of fire hydrants, as a result of the vacation of Cortez and Verde Streets within the Casa Blanca Project Area (the "Project Area"); and WHEREAS, the lack of the proposed public improvements on Indiana Avenue in the Project Area is a detriment to the economic health of local businesses and to the establishment of new and/or expanding businesses in the Project Area, thereby constituting economic blight; and WHEREAS, the Indiana Avenue Public Improvements will create an attractive tree-lined avenue along the north side, thereby benefiting the Project Area; and WHEREAS, the Indiana Avenue Public Improvement Project is anticipated to attract and encourage expanded business investment in the Project Area; 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 i~.?rovements which is publicly owned either within or without the Project A rea. NOW THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of Riverside hereby: Section 1. That the Indiana Avenue Public Improvement Project will be of benefit to the Project Area in that it will assist in improving the overall appearance of Indiana Avenue. Section 2. That there is no other reasonable means of financing the Indiana Avenue Public Improvement Project available to the community at this time because the Indiana Avenue Public Improvement Project is not within the budget of the City. Section 3. That consistent with the Implementation Plan adopted pursuant to Health and Safety Code Section 33490, the payment of funds for the Indiana Avenue Public Improvement Project will assist in enhancing the economic viability of existing