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RESOLUTION NO. 757 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 MERGED DOWNTOWN/AIRPORT REDEVELOPMENT PROJECT AREA WHEREAS, the Redevelopment Agency of the City of Riverside ("Agency") desires and intends to pay for public: improvements consisting of landscaping and irrigation to Fairmont Park located in the Merged Downtown/Airport Redevelopment Project (the "Project Area") to be constructed by the City of Riverside; and WHEREAS, the lack of landscaping and irrigation at Fairmont Park in the Project Area creates a visual blight at the City's Market Street Gateway and serves as a deterrent to the economic health of the area by deterring the establishment of new businesses in the Project Area, thereby constituting blight; and WHEREAS, the Fairmont P.ark Landscaping Improvements will enhance existing landscaping areas and create new landscaping areas, which will improve the visual appearance of the Park, thereby benefitting the Project Area; and WHEREAS, the Landscaping Improvements are anticipated to enhance and promote the revitalization of the area in and around Fairmont Park along the Market Street Gateway in the Project Area; and WHEREAS, Health and Saf~:ty 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 that 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 Fairmont Park Landscaping Improvements will be of benefit to the Project Area in that it will assist in removing a visual blight and promote and enhance the revitalization of residential neighborhoods and businesses surrounding the Fairmont Park. Section 2. That there is no other reasonable means of financing the entire Landscaping Improvements available to the community because the Fairmont Park Landscaping Project is not within the budget of the City.