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<br />RESOLUTION NO. 839 <br /> <br />A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br />RIVERSIDE, CALIFORNIA, ADOPTING FINDINGS PURSUANT TO <br />HEALTH & SAFETY CODE SECTION 33445 AND AUTHORIZING <br />PAYMENT OF COSTS FOR PUBLICLY OWNED PROJECTS WITHIN THE <br />LA SIERRAlARLANZA REDEVELOPMENT PROJECT AREA FOR PEGGY <br />LANE IMPROVEMENTS. <br /> <br />WHEREAS, the Redevelopment Agency of the City of Riverside, California ("Agency") <br /> <br />desires and intends to pay the cost for the construction and installation of public improvements <br />consisting of the construction of Peggy Lane, a new street ("Improvements") within the <br />La Sierra/Arlanza Redevelopment Project Area (the "Project Area"); and <br />WHEREAS, Health and Safety Code Section 33445 provides that the Agency may, with <br />the consent of the legislative body, pay all or part of the value of the land for, and the cost of the <br />installation and construction of, any building, facility, structure, or other improvements that is <br />publicly owned either within or without the Project Area; and <br />WHEREAS, the Improvements will consist of the construction of a 30' wide paved <br />roadway connecting Peggy Lane to Chadbourne Avenue; and <br />WHEREAS, the Improvements will reduce blight in the Project Area and its surrounding <br />neighborhoods; and <br />WHEREAS, the Improvements will provide safe vehicular access, improve circulation, <br />improve visual appearance and promote the health, safety and welfare of the community; and <br />WHEREAS, the legislative body of the Agency has consented to the Agency's payment <br />of the cost of construction and installation of the Improvements; and <br />WHEREAS, the Agency, with consent of the legislative body, desires to pay the cost for <br />construction and installation of the Improvements as described in this resolution. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of <br /> <br />Riverside as follows: <br /> <br />Section 1. That the Improvements will be of benefit to the Project Area in that they will <br />provide safe vehicular access, improve circulation, and improve visual appearance in the Project <br />Area. <br />