HomeMy WebLinkAbout1986-48 CRA
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RESOLUTION NO. 86-48
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA CONSENTING
TO THE ASSIGNMENT, FOR SECURITY PURPOSES,
OF AN OWNER PARTICIPATION AGREEMENT FROM
RIVERVIEW COMMUNITY PARTNERSHIP TO CALIFORNIA
FIRST BANK
WHEREAS, the Community Redevelopment Agency of the
City of Santa Ana (the "Agency") entered into an "Owner
Participation Agreement" with Riverview Community Partnership
on February 18, 1986, for the redevelopment of a site located
generally on the west side of the Santa Ana River between First
and Fifth Streets in the city of Santa Ana; and
WHEREAS, Riverview Community Partnership now needs
to assign its rights under the said Owner Participation
Agreement to California First Bank as security for a
construction loan to finance the redevelopment of the site;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA that the
abovesaid assignment for security purposes is hereby approved
in substantially the form set forth in Exhibit A, attached
hereto and incorporated herein, and the Chairman of the Agency
is authorized to evidence the Agency's consent as such document.
ADOPTED this 15th day of
July
, 1986,
AYES:
NOES:
MEMBERS: Acosta,Griset,Hart,Johnson
Luxembourger, McGuigan & Young
MEMBERS: None
ABSENT:
MEMBERS: None
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Daniel E. Griset
Chairman
APPROVED AS TO FORM:
oper
Counsel