City Council

5) CONSIDERATION TO ADOPT A RESOLUTION APPROVING AUTHORIZATION TO DISTRIBUTE\nREVENUES ON BEHALF OF THE FORMER SUCCESSOR AGENCY TO THE SAN FERNANDO\nREDEVELOPMENT AGENCY FROM THE PAYOFF OF OUTSTANDING LOANS RELATED TO\nLIBRARY PLAZA PARTNERS, LLC, AND APPROVE EXECUTION OF SUBSTITUTION OF TRUSTEE\nAND RECONVEYANCE OF DEED OF TRUST\nRecommend that the City Council:\na. Adopt Resolution No. 8292 of the City Council of the City of San Fernando, acting as\nsuccessor to the Successor Agency of the San Fernando Redevelopment Agency to\nauthorize distribution of proceeds;\nb. Approve execution of a Substitution of Trustee and Reconveyance of Deed of Trust related\nto the Payoff of Outstanding Loan Obligations in connection with Library Plaza Partners,\nLLC; and\nc. Authorize the City Manager to take certain related actions.