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HomeMy WebLinkAboutRDA 86-10 1 2 3 4 5 6 7 8 9 10 11 13 14 15 17 18, 201 21 22" 23 24 25 26 27 II. RESOLUTION NO. RDA 86-10 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF TUSTIN, CALIFORNIA, ADOPTING A STATEMENT OF EXISTING OBLIGATIONS FOR THE TOWN CENTER PROJECT The Community Redevelopment Agency of the City of Tusttn, California hereby resolves as follows: That the Agency is engaged in activities necessary land appropriate to carry out the Redevelopment Plan for the Town Center Project Area; and Be That in order to carry out the orderly completion of the Town Center Redevelopment Plan, the Agency has heretofore lapproved certain specific public and private projects as hereinafter described in various resolutions, agreements, and related documents which are legally binding obligations of the Agency; and Co That the Agency desires to deposit less than the tax increment amount provided for in Section 33334.6 of the California Community Redevelopment Law into a Low and Moderate Income Housing Fund established for the Town Center Redevelopment Project, as a result of previous obligations incurred by the Agency in implementing the Redevelopment Plan in order to provide for the orderly and timely implementation of the Town Center Redevelopment Project; and That the Agency hereby approves this Statement of Existing Obligations which obligations existed prior to January 1, 1986 and were incurred in the implementation of the Town Center Redevelopment Project; and That the Agency believes that the redevelopment pursuant to the Redevelopment Plan continues to be and is in the best interests of the City of Tusttn and the health, safety, morals and welfare of its residents, and in accord with the public purposes and provisions of applicable State and local law and requirements. The following obligations of the Community Redevelopment Agency of the City of Tusttn, California, incurred in relation to the Town Center Redevelopment Project are: A. Town Center Tax Allocations Bonds, Series 1982. 2. 3. 4. Date of Obligation: Amount: Annual Payments: Date of Discharge: November 1, 1982 $22,404,147 $ 933,506 January 1, 2006 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 17, 18' 19~ 20' 21 22 23 24 25~ 26 27' 28~. RDA Resolution No. 86-10 page two B. Owner Participation Agreement/Carver Development 2. 3. 4. Date of Obligation: Amount: Annual Payments: Date of Discharge: December 18, 1985 $ 439,069 Not applicable 365 days after commencement of construction C. Tustln Ranch Road (Jamboree) I-5 Interchange. 1. Date of Obligation: August 20, 1984 2. Amount: $ 500,000 3. Annual Payments: Not applicable 4. Date of Discharge: July 1986 De Undetermined amount of funds required to implement projects approved prior to January 1, 1986. E. Owner Participation Agreement/Burnett Ehline 1. Date of Obligation: 2. Amount: 3. Annual Payments: 4. Date of Discharge: July 1, 1985 $ 36,000 Not applicable Upon project completion (Estimated Nov. 1986) III. The Secretary is authorized and directed to send a copy of this Resolution to the Department of Housing and Community Development. PASSED AND ADOPTED at a regular meeting of the Tustin Community Redevelopment Agency held on the· 18th day of August, 1986. , 1986. MI[RY E. W~t~N, Secretary STATE OF CALIFORNIA ) COUNTY OF ORANGE ) § CITY OF TUSTIN ) MARY E. WYNN, City Clerk and Secretary Clerk of the Community Redevelopment Agency of the City of Tustin, Ca)ifornia, does hereby certify that the whole num- ber of the members of the City Council as the Community Redevelopment Agency is five; that the above and foregoing Resolution No. RBA 86-10 was duly and regularly introduced, passed and adopted at a regular meeting of the City Council as the Community Redevelopment Agency held on the 18th day of August, 1986, by the following vote: AYES : NOES : ABSENT: COUNCILPERSONS: COUNCILPERSONS: COUNCILPERSONS: Edgar, Hoesterey, Kelly, Kennedy, Saltarelli None None MARY E. WYNN~/)~ity Cler~/Secretary Clerk City of Tusti-6, California