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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />231 <br />24 <br />25 <br />26 <br />27 <br />28 <br />Topanga Way <br />(B) public street intersection <br />signalization improvements, <br />interconnections and signage at the <br />intersection of Reche Canyon Road <br />and Shane Drive <br />$125NO <br />The estimated cost of each Intersection Signal Project as set forth in the right-hand <br />column of the preceding subparagraphs is preliminary in nature and is subject to further <br />refinement and confirmation by the City and the Agency upon completion of the public <br />contract bid documents and specifications described in Section 6 of this Resolution at such <br />time as the work of improvement of each specific Intersection Signal Project may be <br />commenced. <br />Section 3. The City Council finds and determines that the use and application of <br />the tax increment revenues of the Agency, including the available balance of funds of the <br />Santa Ana River Bond Account, to pay for the cost of each of the Intersection Signal Projects <br />identified in Section 2 of this Resolution will assist in the elimination of one or more blighting <br />conditions inside the redevelopment project area of the Santa Ana River Redevelopment <br />Project. <br />Section 4. The installation and construction of the Intersection Signal Project <br />identified in Section 2 shall occur at locations which are outside of the redevelopment project <br />boundaries of the Santa Ana River Redevelopment Project. The City Council hereby finds <br />and determines that each such Intersection Signal Project shall be a benefit to the Santa Ana <br />River Redevelopment Project for the following reasons: <br />COLT/0001/DOC/355 4 <br />11/16/00 930 JMM <br />