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RESOLUTION NO. 6~+7 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, CALIFORNIA, APPROVING THAT CERTAIN DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE AND STEVEN W. AND CHRISTINA CALDWELL WHEREAS, the Redevelopment Agency of the City of Riverside, California ("Agency") is engaged in activities necessary to execute and implement the Redevelopment Plan for the Downtown/Airport Industrial Merged Redevelopment Project Area ("Redevelopment Project Area"); and WHEREAS, in order to implement the Redevelopment Plan for the Redevelopment Project Area, the Agency proposes to help facilitate the rehabilitation of the land and improvements located at 3275 Lime Street (the "Project"), pursuant to the terms and provisions of a certain Disposition and Development Agreement ("Agreement"); and WHEREAS, the Agreement proposes that the Agency will sell real property owned by it in the Redevelopment Project Area and which property is described in said Agreement by entering into the Agreement with the Developer; and WHEREAS, Steven W. and Christina Caldwell, submitted to the Agency a written offer to act as developer ("Developer") for the Project; and WHEREAS, the proposed Agreement contains all the provisions, terms, conditions and obligations required by federal, State and local law; and WHEREAS, Developer possesses the qualifications and financial resources necessary to develop the Project as described in the Agreement, in accordance with the purposes and objectives of the Redevelopment Plan; and WHEREAS, the Agency has prepared, and the City Council has reviewed and considered, a summary setting forth the cost of the Agreement to the Agency and including the sale of real properly to the Developer and has made said summary available for public inspection in accordance with the California Community Redevelopment Law; and WHEREAS, the Planning Department of the City of Riverside on behalf of the Agency has caused the preparation of an initial study and Mitigated Negative Declaration for the Project and provided notice of such preparation and availability thereof for public review and comment in full compliance with the provisions of the California Environmental Quality Act (Public Resources Code Section 21000, et seq., ["CEQA"]; and WHEREAS, the Cultural Heritage Board and the Environmental Protection Commission have considered said Initial Study and proposed Mitigated Negative Declaration and recommended that the City Council adopt a mitigated Negative Declaration for the Project; and -1-