HomeMy WebLinkAboutResolution 11-30 11/21/2011RESOLUTION NO. 11 -30
A RESOLUTION APPROVING EXTENSION OF AN INTERGOVERNMENTAL AGREEMENT
TO ADVANCE $1.5 MILLION TO THE SPRINGFIELD ECONOMIC DEVELOPMENT
AGENCY (SEDA) FOR COSTS OF URBAN RENEWAL PROJECTS, AND APPROVING THE
ACQUISITION OF REAL PROPERTY
WHEREAS, the City of Springfield voters approved formation of the Glenwood Urban
Renewal District on November 29, 2005; and
WHEREAS, on November 6, 2007, the citizens of Springfield approved the formation
of the Downtown Urban Renewal District; and
WHEREAS,, the City of Springfield has pledged its cooperation to assist the two urban
renewal districts in the development of projects and the two urban renewal districts
through a Cooperation .and Services Agreement initially approved on November 29,
2005, and amended on July 21, 2008, to incorporate the Downtown Urban Renewal
District; and
WHEREAS, the City of Springfield has pledged its assistance to extend a line of credit
and authority to accept repayment in the amount of $1.5 million in three year
increments.
WHEREAS, the current three year agreement expired on June 30, 2011; and
WHEREAS, the City of Springfield wishes to extend the line of credit and authority to
accept repayment for an additional three years; and
WHEREAS, the Glenwood Urban Renewal Plan authorizes the acquisition of real
property for many reasons, including, but not limited to, rights -of -way, storm water,,
sanitary sewage, utilities, visual appearance, safety improvements for pedestrian
environments, landscaping, parking, as well as to assist in private development; and
WHEREAS, 4095 and 4251 Franklin Blvd are being considered for acquisition for these
purposes; and
WHEREAS, under Sections 700 and 800 of the Glenwood Urban Renewal Plan, the
City Council must approve all real property acquisitions;
NOW THEREFORE, be it resolved that the City Manager is authorized to execute an
Intergovernmental Agreement in substantially similar form to the attached which
extends the line of credit and authority to accept repayment in the amount of $1.5
million from July 1, 2011, through June 30, 2014; and
BE IT FURTHER RESOLVED, that pursuant to Section 700 & 900 of the. Glenwood
Urban renewal plan, that City Council hereby approves the Springfield Economic
.Development Agenda acquisition of 4095 and 4251 Franklin Blvd.
Adopted by the Council by a vote of 6 for and gainst.
Mayor
Attest:
Amy Sow V/ ity Recorder
a.
REVIEWED & APPROVED
as /�FORK--
DATE:
OFFICE OF CITY ATTORNEY
RESOLUTION NO. 11 -30