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Home My WebLink AboutPOWERPOINT PRESENTATION - ITEM NO. 3SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY MCAS Tustin Project Area Tustin Legacy 3 roject Goals & Objectives LJ Eliminate blight and correct environmental deficiencies. LJ Stimulate new investment, economic growth, and create employment opportunities. J Facilitate the installation of new public infrastructure systems and community facilities. R Create orderly development through parcelization of former I LJ Develop, conserve and maintain the City's affordable housing supply. LJ Acquisition, Disposition and Development Coordination LJ Public Improvements and Community Facilitiel J Administration Program Support and Indirect • 61 Acquisition, Disposition Development Coordination ❑ Navy EDC Agreement and Lease in Furtherance of Conveyance activities required for property management and disposition using tax increment as primary funding source. ❑ Interim leasing and licensing. ❑ Acquisition and disposition of Navy -owned properties & coordination • SOCCCD Site for Advanced Technology Campus • OC Sheriff and Animal Control Facility • OC Urban Regional Park Site • Others (including Tustin] ❑ Disposition and development for public and private use with various developer advisor services. ❑ Monitoring activities on all DDA's and Conveyance Agreements. ❑ Litigation on Key Bank encumbrance left on portion of Master Developer footprint. r.1 Public Improvements ❑ Financing Public Improvements and Facilities—MCAS Tustin Tax Allocation Bonds ❑ Construction Oversight and Management including specialized services for Environmental issues and other matters • Tustin Ranch Road and Bridge Project (Phase I and II) • Various Tustin Legacy Backbone Infrastructure Projects that are in design J Valencia/Armstrong Roadway Project Close-out ❑ The District at Tustin Legacy Infrastructure Project ❑ Infrastructure Coordination • Tustin Legacy Community Park (24 acres) • Tustin Fire Station ❑ Phase 1 - Newport Avenue Extension Median in design 7 Demolition an* Site Clearance Demolition of Obsolete Buildings ■iqp 11111 oig �01114 1 Conducting Due Dil�f� I1 --al,; Oevelopment LJ Business Promotion and attraction b High Job Generator Employers • Media Materials J LAMBRA (Local agency Military Base Recovery act) tax incentives LJ Web -based available commercial property search III n ta _nvironme Remediationi J Coordination with Navy in on-site environmental correction activities LJ Coordination with Federal, State, and Regional regulatory agencies in correction and mitigation activities LJ Conducting Due Diligence on sites being acquired from Navy 10 5.* *ther Programs' Support and Indirect Costs Ll Planning and Design Activities and Services Contracts J Legal Services (administrative and direct program) LJ Property Management of City -owned sites including Security Services, Fencing, and Landscaping LJ Due Diligence activities associated with disposition and development LJ Staffing, support facilities (office space), and support equipment LJ Property Tax Analysis City has always needed to provide a working capital advance thru agreement with former Redevelopment Agency 4 11 Housing Activities ® A total of 426 Affordable units have been contracted for to date and an additional 192 units at Village of Hope and 92 units at the Tustin Family Center (OC Social Services). ® Housing Tax Allocation Bonds -Series 2010—proceeds supported repayment of Agency obligation to City to fund affordable housing at Tustin Legacy also providing direct benefit to the Town Center and South Central Projects (Affordable Housing Reimbursement Agreement). LJ Successor Agency is responsible for monitoring covenants, regulatory agreements and promissory notes to ensure continued affordability, processing re -sale documentation, and requests for refinancing and subordinations on numerous projects at Legacy (Columbus Square, Columbus Grove, Tustin Field 1 and II, Village of Hope, OC Social Services. 12 it T -%wn Center an All, Project Areas IM] 1WM --� .._ . _._:�_-_ �� Objectives -ice - Ll Enhance the image of the area and create a sense of identity Ll Improve connectivity LJ Provide assistance for rehabilitation, expansion and retention of existing businesses and facilitate new business attraction LJ Develop a marketing and communication program FJ Strengthen existing partnerships and develop new ones LJ Develop, conserve and maintain the City's affordable housing supply MA Program Activities L) Neighborhood Improvement Program R Economic Development Program LJ Public Infrastructure & Community Facilities Pro, LJ Administration Program Support and Indirect Costs 15 Neighborhood Improvement Programs Li "Neighborhoods of Tustin Town Center" planning and zoning, modifications & environmental documentation. LJ Graffiti removal. LJ Potted Plant Agreements with businesses in Old Town. 0 ",leighborhood Improvement modificationsJ "Neighborhoods of Tustin Town Center" planning and zonin,*�, environmental documentation ® Graffiti removal L) Potted Plant Agreements with businesses in Old Town 17 bevelopmenf 0 ❑ Developer/property owner assistance programs Real estate support for disposition of properties in project areas whether owned by Agency or City to support for mixed use development & commercial use clustering ❑ Monitoring of Numerous DDA's, Owner Participation Agreements and agreements with covenants associated with commercial properties ❑ Business Assistance including marketing and outreach programs ❑ Web -based available commercial property search ❑ Web -based business assistance information ❑ Real Property Data and Information access ❑ Outdoor Billboard at Newport and Edinger license fees and license enforcement 18 Community Facilities ® Street Rehabilitations and streetscape improvements & gateways J Newport Ave. /SR -55 NB Ramp Reconfiguration Project - Phase I and Phase II Extension ® Newport Avenue Apartments management until Newport Extension construction LJ Storm drainage, lighting & traffic controls, utility undergrounding improvement ® Successor Agency owned parking spaces at Steven's Square Parking Structure 0 ❑ Planning and Design Activities and Services ❑ Legal Services ❑ Management of Real Estate Assets ❑ Due Diligence Activities associated with disposition and development ❑ Financial Planning ❑ Staffing, support facilities, and support equipment & day to day operations ❑ City has always needed to provide a working capital advance thru agreement with former Redevelopment Agency 20 Housing Programs CA Preservation of At -Risk Affordable Housing Rental Units 0 Tustin Gardens -100 unit senior project with Section 8 contracts ■ Affordable units at 4 Tustin Ranch projects- Rancho Alisal (72 units), ■ Rancho Maderas (54 units), and Rancho Tierra (51 units) J Housing Tax Allocation Bonds -Series 2010—proceeds supported repayment of Agency obligation to City to fund affordable housing at Tustin Legacy also providing direct benefit to the Town Center and South Central Projects ® Successor Agency is responsible for monitoring loan defaults, covenants, regulatory agreements, Single Family and Multi -family Rehabilitation Loan and Grant agreements and repayments, First Time Home Buyer Agreements, Promissory Notes to ensure continued affordability, processing re -sale documentation, and requests for refinancing and subordinations on numerous projects including Olson/Arbor Walk, Heritage Place, Tustin Grove, etc. 21