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<br />I 1 RESOLUTION NO. 788 <br /> 2 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br /> 3 RIVERSIDE, CALIFORNIA, ADOPTING CERTAIN FINDINGS <br /> REGARDING THE CONSTRUCTION AND INSTALLATION OF PUBLIC <br /> 4 IMPROVEMENTS, WHICH ARE OF BENEFIT TO THE MERGED <br /> DOWNTOWN/AIRPORT INDUSTRIAL REDEVELOPMENT PROJECT <br /> 5 <br /> 6 WHEREAS, the Redevelopment Agency of the City of Riverside, California ("Agency") <br /> 7 desires and intends to pay for the cost of the construction and installation of an access road and <br /> 8 extension of certain utilities ("Improvements") within the Merged Downtown! Airport Industrial <br /> 9 Redevelopment Project (the "Project Area"); and <br /> 10 WHEREAS, Health and Safety Code Section 33445 provides that the Agency may, with <br /> II the consent of the legislative body, pay all or part of the value of the land for, and the cost of the <br /> 12 installation and construction of, any building, facility, structure, or other improvements that is <br /> 13 publicly owned either within or without the Project Area. <br />I 14 WHEREAS, the lack of adequate access and circulation to the Riverside Airport has been <br /> 15 a deterrent to the growth and modernization of the Riverside Airport, consequently impacting the <br /> 16 local business economy and the development of new businesses, thereby contributing to blight in <br /> 17 the Project Area; and <br /> 18 WHEREAS, the West Side Improvement Project is anticipated to attract and encourage <br /> 19 new business investment in the Project Area and to reverse economic decline. <br /> 20 NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of <br /> 21 Riverside as follows: <br /> 22 Section 1. That the Improvements will be of benefit to the Project Area in that it will <br /> 23 assist in providing necessary access and utilities to a portion of the Riverside Municipal Airport. <br /> 24 Section 2. That there is no other reasonable means of financing the Improvements <br /> 25 available to the community because these projects are not within the budget of the City. <br /> 26 Section 3. That consistent with the implementation plan adopted pursuant to Health and <br />I 27 Safety Code Section 33490, the payment of funds for the Improvements will assist in the <br /> 28 elimination of blight and promote and improve the social and physical health of commercial and <br /> 1 <br />I <br />