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22 23 Attest: 24 25 26 I 27 I I City Attorney's Office 3900 Main Street Riverside, CA 92522 (951) 826-5567 1 2 RESOLUTION NO. 773 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RNERSIDE, CALIFORNIA, GRANTING AUTHORITY TO THE EXECUTIVE DIRECTOR AND DEVELOPMENT DIRECTOR TO REVIEW AND APPROVE APPRAISALS OF FAIR MARKET VALUE OF REAL PROPERTY. 3 4 5 WHEREAS, California Government Code S 7267.2 requires a public entity to establish an amount it believes to be just compensation and to approve an appraisal of fair market value of real 6 7 property; and WHEREAS, the Redevelopment Agency of the City of Riverside ("Agency") would like to establish procedures for establishing just compensation and approving appraisals; and WHEREAS, the Agency employs staffin the Development Department, supervised by the office 8 9 10 11 12 13 14 ofthe Executive Director, who are qualified to review and analyze appraisals establishing fair market value; and WHEREAS, the Agency desires to authorize and delegate to the Executive Director and Development Director the authority to review and approve appraisals ofthe fair market value ofthe real 15 16 17 18 19 property. NOW, THEREFORE, BE IT RESOLVED by the Executive Board of the Redevelopment Agency of the City of Riverside, California, as follows: SECTION I : The Executive Director and Development Director are hereby authorized to review and approve appraisals ofthe fair market value ofthe property, 20 21 APPROVED AND ADOPTED "', 6ili d,y ofS",,,,",6&, 2~' Cblli~' R'dmlopm'"' Ag_ of the City of Riverside f t e Redevelopment Agency o iverside