2004 RES R-35-04 - Laserfiche WebLink

Browse Search

CITY OF COLTON , and REDEVELOPMENT AGENCY FOR THE CITY OF COLTON RANCHO MILL PUBLIC WORKS PROJECTS FUNDING and CONSTRUCTION MANAGEMENT AGREEMENT THIS RANCHO MILL PUBLIC WORKS PROJECTS FUNDING AND CONSTRUCTION MANAGEMENT AGREEMENT (the, ''Agreement") is dated as of April 6, 2004; by and between the City of Colton (the "City") and the Redevelopment Agency for the City of Colton (the "Agency") and is entered into in light of the facts`set forth in the following paragraphs of the Recitals: - - RECITALS - - WHEREAS, the Redevelopment Agency for the City of Colton (the "Agency") may, with the consent of the City Council of the City of Colton (the "City"), pay for all or a part of the cost of the installation and construction of any building, facility, structure or other improvement which is publicly owned either within or outside of the redevelopment project area of the Rancho Mill Redevelopment Project (the "Project Area") as set forth in Health and Safety Code Section 33445; and WHEREAS, the Agency has obtained a loan of funds from the City's Traffic Impact Fees (Fund 249) pursuant to the terms and conditions of a loan agreement, entitled "Loan Agreement (Rancho Mill Redevelopment Project)" dated as of September 16, 2003 (the "2003 Rancho Mill Loan Agreement") which authorizes the Agency to draw down certain funds in an aggregate amount not to exceed $500,000, as a loan from the City and the Agency may use and apply the proceeds of such loan of funds which it may draw down for any of the purposes authorized under Section 2 of the 2003 Rancho Mill Loan Agreement, including for the purpose of paying for the cost of the installation and construction of buildings, facilities, structures or other improvements which are publicly owned and situated within or of benefit to the redevelopment project area of the Rancho Mill Redevelopment Project; and Page 1 of 10