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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 />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-07-00 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />APPROVING A REDEVELOPMENT COOPERATION LOAN AGREEMENT <br />BY AND BETWEEN THE CITY OF COLTON AND <br />THE REDEVL�lOPMENT AGENCY FOR THE CITY OF COLTON <br />WH%anxist <br />S, t e City f Colton, California (the "City") is a municipal corporation <br />duly created ant t the constitutional laws of the State of California; and <br />WHEREAS, the edevelop nt Agency for the City of Colton (the "Agency"), is <br />a redevelopment agen , a bodrporate and politic of the State of California, <br />organized and existing pur want to e Comm ity Redevelopment Law (Part 1 of Division <br />24) commencing with Secti 33000 of the Health and Safety Code of the State of <br />California; and <br />WHEREAS, pursuant to the ed elopment ,the Agency is authorized and <br />empowered to enter into agreements the re velo n of real property within the <br />Pro j ect Area; and <br />WHEREAS, the Agency has approve enter' g 1 to that certain Redevelopment <br />Participation Agreement dated as of March 7, 200 the "RPA") w' a Mesa RV Center, <br />Inc., a California Corporation (the "Participant") p u t which he Participant will <br />rehabilitate a 104,000 square foot vacant retail buildin reuse s a new and used <br />recreational dealership leased by the Participant and genelly''ated at 1075 South <br />Mount Vernon Blvd in the City of Colton (the "Property"), withl the project area subject <br />to the Redevelopment Plan for the Cooley Ranch Redevelopment roj ect (the "Cooley <br />Ranch Project"); and <br />WHEREAS, the Participant has requested the City and the Agency reimburse it <br />for certain costs related to the Project ("Agency Reimbursement Obligations"); d <br />WHEREAS, the RPA provides that on and after the Opening Date, oneys <br />as may be required to satisfy and perform the reimbursement obligations of the Age cy <br />Page 1 of 5 <br />