City Council

13. A Resolution of the City Council of the City of Highland approving Security Agreement,\nAssignment ofRents, and Cooperative Agreement between the City of\nHighland and Lumar Devco IV,LL C, MG Gasoline, Inc.,an d YN Properties, LLC for\nthe Design and Constructionof a Traffic Signal and Other Public Improvements along\nBase Line between Buckeye Street and SR-210 and MakingaFinding that No\nFurther Environmental Review is Required Under California Environmental Quality\nAct Guidelines Section 15162 RECOMMENDATION:\nThat the City Council: 1)\nOpen and conducta public hearing regarding the proposed economic subsidy\nin the amount of up to $250, 000 pursuant to Government Code Section\n53083; 2)\nAdopt the Resolution Approving the Security Agreement, Assignment ofRents\nand Cooperative Agreement between the City of Highland; Lumar Devco\nIV,L LC, a California limited liability company; MG Gasoline, Inc.a, California\ncorporation and YN Properties, LLC, a California limited liability company;\n3)\nAuthorize the Mayor to sign the final version of the Agreement, subject to review\nand approval by the City Attorney; and 4)\nApprove the following Budget Adjustment: transfer $250, 000 from 007-2100 2007\nBond Fund Balance) to be expended from 007- 8330- 6550 (Traffic Improvements).