HomeMy WebLinkAbout1979-63 CRA
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EJC:sc
11/19/79
RESOLUTION NO. 79-63
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA AUTHORIZING
BOND ISSUES FOR THE ACQUISITION OF PERMANENT
LOANS FOR REHABILITATION OF SPECIFIED PROP-
ERTIES AND MAKING CERTAIN FINDINGS IN CONNEC-
TION THEREWITH
.
WHEREAS, by Resolution Number 79-61, adopted November 5,
1979, the Community Redevelopment Agency of the City of Santa Ana
adopted a Major Commercial Rehabilitation Program and declared its
intention to issue bonds or notes pursuant to the Community Rede-
velopment Law or the Marks Historical Rehabilitation Act of 1976
for the purpose of providing financial assistance to developers and
owners of properties by purchasing permanent loans for rehabilita-
tion of said properties within a Designated Rehabilitation Area,
therein described; and
WHEREAS, in order to induce developers and owners of
property within the described Designated Rehabilitation Area, the
Community Redevelopment Agency of the City of Santa Ana desires to
take official action authorizing the issuance of specified bonds to
acquire loans made for rehabilitation of specified properties by
developers and owners.
.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVEL-
OPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS:
1. In accordance with the general requirements set
forth in Resolution Number 79-61, this Agency hereby authorizes the
issuance of separate and distinct bond issues in amounts not to
exceed $1,000,000 each for the purpose of providing financial assis-
tance to the developers and owners set forth herein below by pur-
chasing permanent loans made for rehabilitation of the respective
properties set forth below:
.
Developer or Owner
1, Marvin O. Burton
2. Sylvia Jackman, et. al.
3. L. C. Scott
4. Harry and Evelyn Greenberg
5. Steven J. Keiser
6. E. Walter Scott
7. Arthur Turner
8. David Flaherty
9. Lynn Cereda
10. Albert Blank
11. William E. Baker
Location of Project Properties
116 West Fourth Street, Santa Ana
117 West Fourth Street, Santa Ana
214/18 West Fourth Street, Santa Ana
117 North Sycamore, Santa Ana
408/410 West Fourth Street, Santa Ana
206 West Fourth Street, Santa Ana
Odd Fellows Hall, North Main, Santa Ana
505 North Main Street, Santa Ana
517 North Main Street, Santa Ana
515 North Main Street, Santa Ana
1322 North Sycamore/1325 North
Broadway, Santa Ana
2. The proceeds of each such issue of bonds shall include
related and necessary issuance expenses, administrative costs,
reasonably required reserves and interest payments.
3. Each issue of bonds shall be issued subject to com-
pletion of issuance, sale and delivery proceedings and other matters
relating thereto to the full satisfaction of the Agency.
4. It is hereby found and determined that the providing
of financial assistance, as more particularly described herein and
in Resolution Number 79-61, is a substantial inducement to the
aforesaid developers and owners to rehabilitate the aforedescribed
properties, that said rehabilitation will further the public purpose
.
.
.
.
.
.
RESOLUTION NO. 79-63
PAGE TWO
and goals of this Agency and is for the public interest and bene-
fit, and that each of the aforesaid developers and owners has
requested this Agency to issue and sell its bonds for the purpose
of providing rehabilitation financial assistance to said developers
and owners by purchasing permanent loans made for rehabilitation of
the described properties.
ADOPTED this 19th
following vote:
November
, 1979, by the
day of
AYES: MEMBERS: Bricken, Griset, Luxembourger, Yamamoto
NOES: MEMBERS: Markel
ABSENT: MEMBERS: Serrato, Ward
ATTEST:
(f~'~~ ~
~~
RICHARD E. GOBLIRSCH
Executive Director/
Recording Secretary
APPROVED AS TO FORM:
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Legal Counsel