Laserfiche WebLink
<br />EJC:adg <br />12/11/79 <br /> <br />'I <br /> <br />RESOLUTION NO. 79-66 <br /> <br />'. <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA AUTHORIZING <br />BOND ISSUES FOR THE ACQUISITION OF PERMANENT <br />LOANS FOR REHABILITATION OF SPECIFIED PROP- <br />ERTIES AND MAKING CERTAIN FINDINGS IN <br />CONNECTION THEREWITH <br /> <br />WHEREAS, by Resolution No. 79-61, adopted November <br />5,1979, the Community Redevelopment Agency of the City of <br />Santa Ana adopted a Major Commercial Rehabilitation Program <br />and declared its intention to issue bonds or notes pursuant <br />to the Community Redevelopment Law or the Marks Historical <br />Rehabilitation Act of 1976 for the purpose of' providing <br />financial assistance to developers and owners of properties <br />by purchasing permanent loans for rehabilitation of said <br />properties within a Designated Rehabilitation Area, therein <br />described; and <br /> <br />;w <br /> <br />WHEREAS, in order to induce developers and owners <br />of property within the described Designated Rehabilitation <br />Area, the Community Redevelopment Agency of the City of <br />Santa Ana desires to take official action authorizing the <br />issuance of specified bonds to acquire loans made for <br />rehabilitation of specified properties by developers and <br />owners. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: <br /> <br />1. In accordance with the general requirements <br />set forth in Resolution Number 79-61, this Agency hereby <br />authorizes the issuance of separate and distinct bond issues <br />in amounts not to exceed $1,000,000 each for the purpose of <br />providing financial assistance to the developers and owners <br />set forth herein below by purchasing permanent loans made <br />for rehabilitation of the respective properties set forth <br />below: <br /> <br />. <br /> <br />1. <br />2. <br /> <br />Santora Partners <br />BBD Company/Mission <br />Viejo Lighting <br /> <br />Location of project properties <br /> <br />207 North Broadway, Santa Ana <br />208 - 211 North Main Street <br />Santa Ana <br /> <br />Developer or Owner <br /> <br />2. The proceeds of each such issue of bonds <br />shall include related and necessary issuance expenses, <br />administrative costs, reasonably required reserves and <br />interest payments. <br /> <br />3. Each issue of bonds shall be issued subject <br />to completion of issuance, sale and delivery proceedings and <br />other matters relating thereto to the full satisfaction of <br />the Agency. <br /> <br />. <br /> <br />4. It is hereby found and determined that the <br />providing of financial assistance, as more particularly <br />described herein and in Resolution No. 79-61, is a <br />substantial inducement to the aforesaid developers and <br />owners to rehabilitate the aforedescribed properties, that <br />said rehabilitation will further the public purpose and <br />goals of this Agency and is for the public intérest and <br />benefit, and that each of the aforesaid developers and <br /> <br />.;2..1 <br /> <br />3D <br />