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RESOLUTION NO. 855 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, CALIFORNIA, ADOPTING FINDINGS PURSUANT TO HEALTH & SAFETY CODE SECTION 33445 AND AUTHORIZING PAYMENT OF COSTS FOR PUBLICLY OWNED PROJECTS WITHIN THE MAGNOLIA CENTER REDEVELOPMENT PROJECT AREA - EXPANSION OF MARCY LlliRARY. WHEREAS, the Redevelopment Agency of the City of Riverside, California ("Agency") desires and intends to pay the cost for the acquisition of property located at 6927 Magnolia Avenue, identified as Assessor Parcel Number 225-283-001 and 226-210- 001, for the future expansion of Marcy Library and City administrative offices ("Property") within the Magnolia Center Redevelopment Project Area (the "Project Area"); and WHEREAS, Health and Safety 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; and WHEREAS, the Property will be used for the relocation and expansion of Marcy Library and the relocation of City administrative offices; and WHEREAS, the acquisition of the Property for the Marcy Library expansion and City administrative offices will reduce blight in the Project Area and its surrounding neighborhoods; and WHEREAS, the acquisition of the Property will provide the property and facility necessary to expand and relocate the Marcy Library and City administrative offices to provide educational resources and increase public services and promote the health, safety and welfare of the community; and WHEREAS, the legislative body of the Agency has consented to the Agency's payment of the cost of the Property acquisition as described in this resolution; and WHEREAS, the Agency, with consent of the legislative body, desires to pay the cost of the property acquisition as described in this resolution.