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HomeMy WebLinkAboutRDA 11-01RDA RESOLUTION NO. 11-01 A RESOLUTION OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY APPROVING A COOPERATION AGREEMENT AND MAKING CERTAIN DETERMINATIONS AND FINDINGS RELATED THERETO BE IT RESOLVED BY THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY as follows: A. The City Council ("City Council") of the City of Tustin ("City") has adopted three Redevelopment Project Areas (the MCAS Tustin Project, the Town Center Redevelopment Project and the South Central Redevelopment Project, collectively the "Project Areas"), which results in the allocation of taxes from the Project Areas to the Redevelopment Agency for the City of Tustin (the "Agency") for purposes of redevelopment; and B. The intent of the Redevelopment Plans are, in part, to provide for the construction and installation of necessary public infrastructure and facilities and to facilitate the repair, restoration and/or replacement of existing public facilities and to pertorm specific actions necessary to promote the redevelopment and the economic revitalization of the Project Areas; and to increase, improve and preserve the community's supply of low and moderate income housing, some of which may be located or implemented outside the Redevelopment Project Areas; and to take all other necessary actions to implement the Redevelopment Plans for the respective Project Areas and to expend tax increment to accomplish the goals and objectives of the respective redevelopment projects; and C. The Agency has adopted its Five-Year Implementation Plans for the Project Areas, as amended from time to time (the "Implementation Plans") with established goals to support affordable housing, economic development, public infrastructure and community facilities, neighborhood and community revitalization, commercial revitalization, and institutional revitalization. To implement the programs and activities associated with each goal, the Agency has made redevelopment fund commitments based on estimated available tax increment revenue and debt financing structures; and D. The Agency and the City wish to cooperate with one another to bring about the redevelopment of the Project Areas and accomplish various tasks set forth in the Redevelopment Plans and the Implementation Plans; and E. Pursuant to Section 33220 of the California Community Redevelop- ment Law (Health and Safety Code Section 33000 et seq.) (the "CRL") certain public bodies, including the City may aid and cooperate in the planning, undertaking, construction, or operation of redevelopment projects; and RDA Resolution No. 11-01 Page 1 of 6 F. The Agency and the City have prepared a Cooperation Agreement (the "Agreement") to provide for implementation of certain projects set forth in the ~ Schedule of Projects attached thereto as Exhibit 1 (the "Projects"), and to make payments by the Agency to the City in accordance with the Payment Schedule also noted in Exhibit 1, and as otherwise necessary to reimburse the City for the cost of performing its obligations thereunder in accordance with the schedule also identified in Exhibit 1, subject to all of the terms and conditions of the Agreement; and G. The programs and activities associated with the Programs, projects and activities include, but are not limited to, acquisition and disposition and development coordination of property, demolition and site clearance, environmental remediation, design, planning, preparation of construction bid documents, financial analysis, financing and new construction or rehabilitation of structures and public improvements and community facilities, neighborhood improvement activities, economic development and administrative program support. To carry out the Projects in accordance with the objectives and purposes of the Redevelopment Plans for the Project Areas and the Implementation Plans, the Agency desires assistance and cooperation in the implementation and completion of the Projects. The City wishes to enter into the Agreement with the Agency to aid the Agency and cooperate with the Agency to expeditiously implement the Projects in accordance with the Redevelopment Plans for the Project Areas and the Implementation Plans and undertake and complete all actions necessary or appropriate to ensure that the objectives of the Redevelopment Plans for the Project Areas and the Implementation Plans are fulfilled within the time effectiveness of the Project Areas; and H. In considering the Agency's desire to ensure timely implementation and completion of the Projects, the Agency wishes to enter into the Agreement with the City for the pledge of net available tax increment to finance the Projects. The purpose of the Agreement is to facilitate the implementation of the Projects and to provide funding necessary to effectuate the completion of the Projects with net available tax increment in this current fiscal year and forthcoming fiscal years. Net available tax increment is defined as any tax increment, net of existing debt service payments, and existing contractual obligations received by the Agency or any lawful successor of the Agency and/or to any of the powers and rights of the Agency pursuant to any applicable constitutional provision, statute or other provision of law now existing or adopted in the future. The pledge of net available tax increment will constitute obligations to make payments authorized and incurred pursuant to Sections 33445 and 33445.1 of the CRL and other applicable statutes. The obligations set forth in the Agreement will be contractual obligations that, if breached, will subject the Agency to damages and other liabilities or remedies; and I. By approving and entering into the Agreement, the Agency is approving the pledge of net available tax increment from the Project Areas to pay for the Projects; and J. The obligations of the Agency under the Agreement shall constitute an indebtedness of the Agency for the purpose of carrying out the Redevelopment Plans for the Project Areas; and K. It is in the best interests of the City and for the common benefit of residents, employees, business tenants and property owners within the Project RDA Resolution No. 11-01 Page 2 of 6 Areas, and the City as a whole, for the Projects to be developed and constructed; and L. The Agency's low and moderate income housing fund for the Projects located outside of the Project Areas are in accordance with Section 33334.2 of the CRL because the use of such funds will be of benefit to the Project Areas. The Agency and City have previously adopted resolutions for all three redevelopment projects finding that the expenditure of monies from the low and moderate income housing fund outside of each project area will be of benefit to each redevelopment project area. Specifically, Resolutions No. 03-10, adopted by the Agency on June 2, 2003 for the MCAS Project, and Resolution Nos. RDA 05-01 and RDA 05-02, adopted by the Agency on March 21, 2005 for the South Central Redevelopment Project and Town Center Redevelopment Project, respectively, each state that such monies will be used to provide low and moderate income housing at an affordable housing cost to persons of low and moderate income and support findings which have determined that the use of Housing Set Aside Funds outside of designated Redevelopment Project Areas and throughout the City is of direct benefit to the Project Areas; and M. All other legal prerequisites to the adoption of this Resolution have occurred. NOW, THEREFORE, the Tustin Community Redevelopment Agency DOES HEREBY RESOLVE, as follows: Section 1. The Agency has received and heard all oral and written objections to the proposed payments by the Agency to the City for the Projects as described in the Agreement, and to other matters pertaining to this transaction, and all such oral and written objections are hereby overruled. Section 2. The Agency hereby finds and determines that the foregoing recitals are true and correct. Section 3. Based on the evidence in the record, the Agency hereby finds and determines, with respect to the programs, Projects, and activities identified in the Redevelopment Plans and Implementation Plans that are, publicly owned and are located inside or contiguous to the respective Project Area, as identified in Exhibit 1 attached to the Agreement, that: (a) Said Projects and the programs and activities associated therewith are of benefit to the respective Project Area by helping to eliminate blight within the Project Area or providing housing for low or moderate income persons; and (b) No other reasonable means of financing said Projects and the programs and activities associated therewith are available to the community; and (c) The payment of funds by the Agency for the costs related to said RDA Resolution No. 11-01 Page 3 of 6 Projects and the programs and activities associated therewith is consistent with the respective Implementation Plan adopted pursuant to Section 33490 of the CRL. k Section 4. Based on substantial evidence in the record, the Agency hereby finds and determines, with respect to the Projects that are located outside and not contiguous to the respective Project area, but is located within the community that: (a) Said Projects and the programs and activities associated therewith are of primary benefit to the Project area; (b) Said Projects and the programs and activities associated therewith benefits the project area by helping to eliminate blight within the project area, or will directly assist in the provisions of housing for low- or moderate-income persons; (c) No other reasonable means of financing the Projects and the programs and activities associated therewith are available to the community in accordance with Section 33445.1(a)(3) of the CRL; (d) The payment of funds for said Projects and the programs and activities associated therewith is consistent with the respective Implementation Plan adopted pursuant to Section 33490 of the CRL; and (e) Said Projects and the programs and activities associated therewith are provided for in the respective Redevelopment Plan. Section 5. The Agency hereby consents to the payments by Agency to City in accordance with the schedule attached to the Agreement as Exhibit 1. Section 6. The Agreement in substantially the form presented to the Agency is hereby approved, a copy of which is on file with the Secretary of the Agency. Section 7. The Agency Chair, is hereby authorized to execute the Agreement on behalf of the Agency, together with such non-substantive changes and amendments as may be approved by the Agency Executive Director and Agency's Legal Counsel. Section 8. The Agency Executive Director, and/or Assistant City Manager, or their designee, is hereby authorized, on behalf of the Agency, to sign all documents necessary and appropriate to carry out and implement the Agreement, and to administer the Agency's obligations, responsibilities and duties to be performed under the Agreement. Section 9. In the event the Agency desires to issue bonds, notes, or other instruments of indebtedness of the Agency to carry out redevelopment projects, then any indebtedness of the Agency to the City, including any interest accrued thereon, RDA Resolution No. 11-01 Page 4 of 6 shall be deemed not to be a first pledge of tax increment allocations received by the Agency pursuant to Section 33670 of the CRL; and any indebtedness of the Agency to the City, including any interest accrued thereon, shall be subordinate to any pledge of tax increments to bondholders or the holders of other such instruments of indebtedness. Section 10. This Resolution shall take effect immediately upon its adoption by the Tustin Community Redevelopment Agency and the secretary of the Agency shall attest to and certify the vote adopting this Resolution. PASSED and ADOPTED at the regular meeting of the Tustin Community Redevelopment Agency held on February 1, 2011. ATTEST: .~ ~ PAM TOKER City Clerk Attachmenfi -Exhibit 1 Cooperation Agreement RDA Resolution No. 11-01 Page 5 of 6 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF TUSTIN ) I, Pamela Stoker, recording secretary of the Tustin Community Redevelopment Agency, Tustin, California, do hereby certify that the whole number of the members of the Tustin Community Redevelopment Agency is five; that the above and foregoing RDA Resolution No. 11-01 was duly passed and adopted at a regular meeting of the Tustin Community Redevelopment Agency, held on the 1St day of February, 2011, by the following vote: COUNCILMEMBER AYES: COUNCILMEMBER NOES: COUNCILMEMBER ABSTAINED: COUNCILMEMBER ABSENT: P STOKE , City Clerk Amante, Nielsen, Gomez, Murray (4) Gavello (1) None (0) None (0) RDA Resolution No. 11-01 Page 6 of 6