(A) Project I, Beach Property Redevelopment Plan.
(1) All action (not inconsistent with the provisions hereof) heretofore taken by the City Council, the Metropolitan Redevelopment Agency, and the officers of the city, directed toward the Plan, the construction of Project I, and the sale and issuance of the bonds therefore, be and the same hereby is ratified, approved and confirmed.
(2) The City Council, after having conducted a public hearing, finds that:
(a) The Plan, and the proposed activities under the Plan, including the construction of apartments and offices, will aid in the elimination and prevention of blight; and
(b) The redevelopment of the Beach Property will displace four households from their dwellings; therefore, a method for providing relocation assistance is included in the Plan; and
(c) The Plan conforms to general plans of the city as a whole; and
(d) The Plan affords maximum opportunity, consistent with the needs of the community, for the rehabilitation and development of the Tingley Beach Metropolitan Redevelopment Area by private enterprise; and the objectives of the Plan justify the proposed activities as public purposes and needs.
(3) The Plan (Project I Redevelopment Plan for the Tingley Beach Metropolitan Redevelopment Area) attached and made a part hereof, is hereby approved in all respects.
(4) In order to promote the local health and general welfare, safety, convenience and prosperity of the inhabitants of the city, it is the City Council's intent to take all necessary and advisable steps to effect the issuance of bonds pursuant to the Redevelopment Bonding Law in a principal amount up to $5,000,000 in order to defray part or all of the costs of Project I Beach Property, such Project to be located within the Tingley Beach Metropolitan Redevelopment Area of the city; provided that this expression of intent is conditioned upon the issuance of bonds on or before June 1, 1984.
(5) Nothing contained in this section, nor in any other instrument shall be considered as obligating the city to any pecuniary liability or a charge upon the general credit of the city or against its taxing power, it being understood that no costs are to be borne by the city except what is paid out of the proceeds of the proposed bond issue; all expenses reasonably incurred by the city in connection therewith are to be promptly reimbursed by the company.
(Res. 81-1983, approved 6-8-83)