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RESOLUTION NO. RDA 91-1
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF TUSTIN REGARDING THE
READOPTION OF A STATEMENT OF EXISTING
OBLIGATIONS OR PROGRAMS OR BOTH IN CONNECTION
WITH THE IMPLEMENTATION OF THE TOWN CENTER
REDEVELOPMENT PROJECT
WHEREAS, the Redevelopment Plan ("Redevelopment
Plan") for the Tustin Town Center Redevelopment Project
Area ("Project") in the City of Tustin was approved by
the Redevelopment Agency and the City Council of the city
of Tustin on November 22, 1976 by Ordinance No. 701 and
amended by Ordinance 89-27, on March 20, 1989.
WHEREAS, Section 33334.5 (c) of the California
Community Redevelopment Law (Health and Safety Code,
Section 33000 et. seq.) provides that unless the
Redevelopment Agency by resolution makes one of the
findings described in paragraphs (1) to (3), inclusive,
of subdivision (a) of Section 33334.2, not less than 20
percent of the Project tax increment revenues allocated
to the Agency pursuant to Section 33670 for the 1985-86
fiscal year and each succeeding fiscal year shall be
deposited into a Low and Moderate Income Housing Fund for
the Project established pursuant to Section 33334.3 to be
used for the purposes set forth in Section 33334.2,
except that:
A) In any fiscal year, the Agency may deposit less
than 20 percent of such Project tax increment revenues
into the Project Low and Moderate Income Housing Fund if
the Agency finds that the difference between the amount
deposited, or to be deposited, and the amount required to
be deposited (20 percent of Project tax increment
revenues) is necessary to make payments of amounts due or
required to be committed, set aside, or reserved by the
Agency during the fiscal year under existing obligations
incurred by the Agency to finance or refinance, in whole
or in part, the Project ("Existing Obligations") which
Existing Obligations are contained in a statement of
Existing Obligations adopted by resolution of the Agency
prior to September 1, 1986; and
B) In each fiscal year prior to July 1, 1996, the
Agency may deposit less than the amount required to be
deposited (20 percent of Project tax increment revenues,
less payments of amounts due or required to be committed,
set aside, or reserved during the fiscal year under
Existing Obligations) into the Low and Moderate Income
Housing Fund if the Agency finds that the deposit of such
lesser amount is necessary in order to provide for the
orderly and timely completion of public and private
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RDA Resolution No. 91-1
Page 2
projects, programs, or activities approved by the Agency
prior to January 1, 1986 and which are contained in a
Statement of Existing Programs adopted by resolution of
the Agency prior to September 1, 1986; and
WHEREAS, the Agency approved existing projects,
programs and activities by Resolution No. 85-18 of the
Agency adopted on December 16, 1985; and
WHEREAS, such existing projects, programs, and
activities were described in Exhibits A and B attached
and incorporated to Agency Resolution No. 85-18.
WHEREAS, the Agency readopted a Statement of
Existing Obligations and Programs by Resolution No. RDA
86-10 on August 18, 1986 and Resolution RDA 87-11 on
August 17, 1987; on August 17, 1987 with adoption of
Resolution No. 87-11 and 87-12; on September 19, 1988 by
adoption of Resolutions 88-10 and 88-11; and on February
20, 1990 by adoption of Resolution 90-4 and 90-5.
NOW, THEREFORE, THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF TUSTIN does hereby resolve as follows:
Section 1. The Agency hereby readopts a
Statement of Existing Obligations for the Tustin
Redevelopment Project No. 1 attached hereto and marked
"Attachment 1" and Statement of Existing Programs for the
Tustin Town Center Redevelopment attached hereto and
marked "Attachment 2" as the statements required by
Section 3334.6(c) of the California Community
Redevelopment Law for those obligations incurred prior to
January 1, 1986.
Section 2. The Agency Secretary is authorized
and directed to send a copy of this resolution to the
State Department of Housing and Community Development.
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RDA Resolution No. 91-1
Page 3
PASSED AND ADOPTED at a regular meeting of the Community
Redevelopment Agency at Tustin, California, held on the
4th day of February, 1991.
City Cl~k
CAS:kbc/91-1.cas
STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF TUSTIN
CERTIFICATION FOR RDA RESOLUTION NO. 91-1
MARY E. WYNN, Recording Secretary and ex-officio Clerk of
the Redevelopment Agency of the City of Tustin,
California, does hereby certify that the whole number of
the members of the Redevelopment Agency of the City of
Tustin is five; that the above and foregoing Resolution
was duly and regularly passed and adopted at a regular
meeting of the Redevelopment Agency held on the 4th day
of February, 1991 by the following vote:
AGENCY MEMBERS AYES:
AGENCY MEMBERS NOES: None
AGENCY MEMBERS ABSTAINED: None
AGENCY MEMBERS ABSENT: None
Edgar, Puckett, Pontious, Ports, Prescott
Recordih~ Secretary
ATTACHMENT 1
TO RDA 91-1
STATEMENT OF EXISTING OBLIGATIONS
Town Center Redevelopment Project
1989-90
Description of Existing
Obligations
Total Amounts
of Remainin~
Obligations'
Date
Range of Obligations
Annual Will Be
Payments2 Discharged
Tustin Community Redevelopment
Agency Town Center Area
Redevelopment Project Tax
Allocation Bonds - Series 19821
$13,653,400 $801,020 1-1-06
Undetermined amount of funds required to implement projects approved prior to
Januar~ 1, 1986.
As refinanced on July 1, 1981 with bonds sold on August 5, 1987.
See attached debt service schedule.
Iqoo
IUSIIU Ii£P£V£LOl'l~.lll AG~JICV
lo,aGo,uno i've7 lPMll ti. Illin AIIFA rlia,,11'c!
SLrHI-~UIJIUAL P£II Sl:liVlCl: $CIEDUL£
IOliDS DAI£D 111101
.il)liPS SOLP 615181
HW I
flllllllG II111 ii $1 IlIIflU'SI FIilHCII'AL IOIAL AJIIIUAL
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1908 fiSJ,815.OO $272,J25.00 25,000 $2~LJ25.00
19~0 2~$,~10.U0 245,q10.00 2lO,gOO 5J$,910.00
IPPl 25e,2%.00 25~,295.00 285,1ifl0 544,295.00
1~2 2$1,Q:i$.OO 251,Q05.00 3O4,11dO 551,665.0Q
17~4 2J4,OALSO 2~4,1101.50 JJ$.POO
l~q5 274,975.Pll ?24,e25.0U J$5.Ol~
19~4 2lJ,~2O.O0 213.q2O.flli ]?5,000 508,920.U0
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18,0~0,000 111o540,80~ llSo?OJ,I50.
Attachment I
Page 2
I
ATTACHMENT 2
TO RDA 91-1
STATEMENT OF EXISTING pROGRAMS
Town Center Redevelopment Project
0
Potential expansion and renovation of commercial centers to include:
expansion of existing lease space; construction of new, mixed use,
structures; construction of parking structure(s); and the possible
abandonment of public streets. Agency assistance may be required for
construction of necessary off-site improvements or other financing
assistance and restoration and expansion of an adjacent residential
apartment complex.
The five year capital improvement program budget adopted in fiscal year
1986-87 totalling $4,926,192.
Undetermined costs associated with street improvement plans recommended
by the Planning Commission in conjunction with the First Street Specific
Plan.
Negotiations underway for acquisition of real property within the
project area for the purposes of redevelopment of non-conforming
structures and sites. Such acquisition is consistent with the goals and
objectives of the adopted Redevelopment Plan.
"Policy of the Redevelopment Agency for the Allocation of Housing
Assistance Funds" as adopted on January 7, 1985.
Agency participation in the construction and operation of a Senior
Citizen Center.
The commitment of Agency funds to the expansion of civic center
facilities as recommended by space needs study commissioned by the
Agency.
Formulation and implementation of a multi-phase strategy plan for the
redevelopment of the downtown business district.
CAS:kf\resos\rda91-2.att