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RESOLUTION NO. 640 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE APPROVING AND AUTHORIZING TRANSMITAL OF THE REDEVELOPMENT PLAN AND THE AGENCY'S REPORT FOR THE PROPOSED MAGNOLIA CENTER REDEVELOPMENT PROJECT TO THE RIVERSIDE CITY COUNCIL AND APPROVING THE DELETION OF CERTAIN TERRITORY THEREFROM WHEREAS, the Redevelopment Agency of the City of Riverside (the "Agency") has prepared a Report to City Council ("Report") on the Redevelopment Plan for the proposed Magnolia Center Redevelopment Project ("Proposed Project") in compliance with Section 33352 of the California Community Redevelopment Law (Health and Safety Code, Sections 33000, et seq.) (the "CRL"); and WHEREAS, Section 33352 of the CRL states that every redevelopment plan submitted by a redevelopment agency to the legislative body shall be accompanied by a report; and WHEREAS, CRL Section 33326 specifies that the Planning Commission may change the boundaries of the Project Area with the approval of the Agency; and WHEREAS, on May 21, 1998, the Planning Commission did adopt Resolution No. 4354 approving the Plan with changed boundaries deleting certain territory as shown in Exhibit "A" attached hereto and incorporated herein by this reference; and WHEREAS, the Agency has prepared the Redevelopment Plan for the Proposed Project in accordance with the various provisions of the CRL related thereto. NOW, THEREFORE, be it resolved by the Redevelopment Agency of the City of Riverside as follows: Section 1. Pursuant to C1LL Section 33352, the Agency has prepared the Redevelopment Plan and the Report on the Redevelopment Plan. Section 2. The Agency hereby approves the Redevelopment Plan and the Report on the Redevelopment Plan. Section 3. The Agency hereby concurs with and approves the Planning Commission's removal of territory from the Proposed Project, as shown in Exhibit "A". Section 4. The Executive Director of the Agency is hereby authorized and directed to transmit the Report and the Redevelopment Plan to the Riverside City Council. Section 5. The Secretary shall certify to the passage and adoption of this resolution, and it shall thereupon take effect and be in force. ADOPTED, SIGNED AND APPROVED this 23rd day of June, 1998. Tern Thompson, Chairperson of the Redevelopment Agency of the City of Riverside ATTEST: Secretary o./f~the l~edevelopment Agency of the Ci~f~erside