HomeMy WebLinkAboutRDA ANNUAL REPORT 12-21-81REDEVELOP~_ENT AGENCY
No. 4
12-21-81
DATE:
TO:
FROM:
SUBJECT:
Dec. i1, 1981
WILLIAM HUSTON, EXECUTIVE
REDEVELOPMENT AGENCY
KEN FLEAGLE
ANNUAL REPORT
Inter-Com
R~COMMENDED ACTION:
Adoption of RDA Resolution No. ~-J~ approving the 1980-81 Annual Report
and transmitting the report to the California Department of Housing and
Co~m~unity Development and to the City Council.
BACKGROUND:
The RDA received and approved the annual report on September 8, 1981, subject
to receipt of the auditor's report. The auditor's report has been received
and no discrepancies were noted. In fact, the auditor stated that the content
and format of the RDA annual report met all requirements of law.
Section 33080 of the Redevelopment Law requires the RDA to send a copy of
the report to the State Department of Housing and Co~mnunity Development prior
to January 1,1982.
Section 33080.1 requires that a copy of the annual report be presented to
the City Council. At the first meeting following 21 days after receipt, the
City Council is required to act on the report. This action will be scheduled
for January 18, 1982.
KEN FLEAGLE
FK:dn~
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RDA RESOLUTION NO. 81-15
A RESOLUTI(1N OF THE CITY OF TJSTIN
REDEVE~ AG~CY APPROVING
TRANSMITTING THE ANNUAL REPORt
The Redevelolanent Agency of the City of Tustin does hereby resolve as
follows:
I. The Rmdevelolmnent Agency finds and determines as follows:
That an annual report for the City of Tustin Redevelo~nent
Agency for FY 1980-81 was prepared and approved by the
Redevelopment Agency on September 8, 1981.
B. That said report was approved subject to receipt of the audit
report.
An independent financial audit report has been received
indicating that the Agency is in compliance with laws,
regulatioms and ___~ministrative requirements governing
activities of the ~ency.
II. The City of Tustin Redevelopment Agency hereby adopts the annual report
and directs that said report with report of the auditor, pursuant to
Sections 33080 and 33080.1 of the California Co.,,.unity t~develol~nent
Law, shall be transmitted to the State Department of Housing and
Om,.,unity Development and to the City Council.
PASSED DAD AD(1OTED at a regular meeting of the City of Tustin
Redevelol:ment Agency, held on the 21st day of December, 1981.
JAMES B. SHARP
CHAIRMAN
MARY WYS~
RECORDING SECRETARY
28
imonis
,,'loreland
December 9, 1981
610 NEWPORTCENTER DRIVE, SUITE 1325
NEWPORT BEACH, CALIFORNIA 92660
(714) 640-1333
The Board of Directors of the
Tustin Community Redevelopment Agency
We have examined the general purpose financial statements of the Tustin
Community Redevelopment Agency for the year ended June 30, 1981, and
have issued our report thereon dated November 17, 1981. Our
examination was made in accordance with generally accepted auditing
standards and accordingly included such tests of the accounting records
and such other auditing procedures as we considered necessary in the
ci r cumst ances.
In connection with our examination, we also performed tests of
compliance as required by the "Guidelines for Compliance Audits of
California Redevelopment Agencies" issued by the Controller's office of
the State of California.
Based on these procedures, we noted no instances of noncompliance with
the regulations for the year ended June 30, 1981.
TUSTIN COMMUNITY REDEVELOPMENT AGENCY
Tustin Community Redevelopment Agency
Balance Sheet
June 30, 1981
Assets
Cash and short-term investments
Taxes receivable
Interest receivable
Due from other governments
Total Assets
1981
$1,537,711
150,777
4,986
$1,693,474
Liabilities and Fund Equity
Liabilities:
Accounts payable
Retentions payable
Due to other governments
8% note payable to City of Tustin
on demand
Total Liabilities
Fund Equity:
Fund balance - designated for capital outlay
Total Liabilities and Fund Equity
$ 2,818
21,396
1,125,000
1,149,214
544,260
$1,693,474
1980
$1,646,745
2,606
5,201
13,366
$1,667,918
$ 10,557
12,675'
1,125,000
1,148,232
519,686
$1,667,918
See Accompanying Note to Financial Statements.
Statement of
Tustin Community Redevelopment Agency
Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 1981
1981
Revenues:
Tax increments
Interest
Developer contributions
Other
Budget Actual
Total Revenues
Expenditures:
Administration
Capital expenditures
Over
(Under)
Budget
Total Expenditures
1980
Actual
Excess of Revenues Over
(Under) Expenditures
667,000 $704,507 $ 37,507 $564,085
10,000 76,144 66,144 42,530
94,343
27,550 53,204 25,654 31,747
704,550 833,855 129,305 732,705
220,751 44,018 (176,733) 7,359
1,077,300 765,263 (312,037) 473.287
1,298,051 809,281 (488,770) 480,646
(593,501)
24,574 618,075 252,059
519,686 267,627
$544,260 $618,075 $519,686
Fund balance, beginning of year 519,686
Fund balance, end of year $ (73,815)
See Accompanying Note in Financial Statements.
-23-
Tustin Community Redevelopment Agency
Note to Financial Statements
June 30, 1981
Note 1 - Summary of Significant Accounting Policies
Description of Fund
The accounting records of the Agency are organized in a capital
projects fund which is used for the receipt and disbursement of monies
used for financing capital expenditures.
Basis of Accounting
The Agency's capital projects fund is maintained on the accrual basis
of accounting.
Cash and Short-Term Investments
The Agency pools idle cash with the City of Tustin for the purpose of
increasing income through investment activities. Investments are
carried at cost, which approximates market value.
Appropriations and Encumbrances
Unexpended and unencumbered appropriations of the Agency automatically
lapse at the end of the fiscal year.
Budgetary Practices
Each year the Agency Board adopts a budget which provides for the
operations of the Agency. Budgets are prepared on the accrual basis of
accounting. An encumbrance system is utilized to assist in controlling
expenditures and enforcing revenue provisions.
Reclassification
At June 30, 1980, a cash balance and a note payable to the City of
Tustin for $1,125,000 was not included in the Agency balance sheet.
The 1980 balance sheet has been revised to reflect these amounts. The
note was paid shortly after June 30, 1980.
-24-
a
oreland o&wow o4w,
December 9, 1981
The Board of Directors of the
Tustin Community Redevelopment Agency
610 NEWPORT CENTER DRIVE, SUITE 1325
NEWPORT BEACH, CALIFORNIA 92660
(71 A) 640-1333
We have examined the general purpose financial statements of the Tustin
Community Redevelopment Agency for the year ended June 30, 1981, and
have issued our report thereon dated November 17, 1981. Our
examination was made in accordance with generally accepted auditing
standards and accordingly included such tests of the accounting records
and such other auditing procedures as we considered necessary in the
circumstances.
In connection with our examination, we also performed tests of
compliance as required by the "Guidelines for Compliance Audits of
California Redevelopment Agencies" issued by the Controller's office of
the State of California.
Based on these procedures, we noted no instances of noncompliance with
the regulations for the year ended June 30, 1981.
z
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TUSTIN COMMUNITY REDEVELOPMENT AGENCY
I
Tustin Community Redevelopment Agency
Balance Sheet
June 30, 1981
f :mow
Cash and short-term investments
Taxes receivable
Interest receivable
Due from other governments
Total Assets
Liabilities and Fund Equity
Liabilities:
Accounts payable
Retentions payable
Due to other governments
8% note payable to City of Tustin
on demand
Total Liabilities
Fund Equity:
Fund balance - designated for capital outlay
Total Liabilities and Fund Equity
See Accompanying Note to Financial Statements.
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IW
$1,537r711 $1,646,745
150,777 2,606
4,986 5,201
13,366
$1,693,474 $1r667r918
2,818 $ 10,557
3.2,675
21,396
1,125,000 1r1251000
1,149,214 1r148r232
544,260 519,686
Sl -AQI _A7A 5.1 _Ar.7 _Q1 A
III!
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Tustin Community Redevelopment Agency
Statement of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual
For the Year Ended June 30, 1981
1981
Over
(Under) 1980
Budget Actual Bud
!get Actual
Revenues:
Tax increments $
667,000
$704,507
$ 37,507
$564,085
Interest
10,000
76,144
66r144
42,530
Developer contributions
94,343
Other
27,550
53t204
25L654
31,-7417
Total Revenues
704,550
833,855
129-L3-0�5
732--179-5
Expenditures:
Administration
220,751
44,018
(176,733)
7,359
Capital expenditures
1,077,300
765,263
(312,037)
473,287
Total Expenditures
1,298,051
809,281
(488,770)
480,646
Excess of Revenues Over
(Under) Expenditures
(593,501)
24,574
618,075
252,059
Fund balancer beginning of year
519,686
519,686
267,627
Fund balance, end of year $
(73,815)
$544,260
$618,075
$5�19_686
See Accompanying Note in Financial Statements.
AM
ITustin Community Redevelopment Agency
Note to Financial Statements
June 30, 1981
wiftP W011;t-1
The accounting records of the Agency are organized in aprtal
p,oects fund which is used for the receipt and disbursement of monies
used for financing capital expenditures.
The Agency's capital projects fund is maintained on the accrual basis
of accounting.
The Agency pools idle cash with the City of Tustin for the purpose of
increasing income through investment activities. Investments are
carried at cost, which approximates market value.
At June 30, 1980, a cash balance and a note payable to the City of
Tustin for $1,125,000 was not included in the Agency balance sheet.
The 1980 balance sheet has been revised to reflect these amounts. The
note was paid shortly after June 30, 1980.
Unexpended and unencumbered appropriations of
the Agency automatically
lapse at the
end of the fiscal year.
udoetarv— ctiges
Each year the Agency Board adopts a budget
which provides for the
operations of
the Agency. Budgets are prepared
on the accrual basis of
accounting.
An encumbrance system is utilized
to assist in controlling
expenditures
and enforcing revenue provisions.
At June 30, 1980, a cash balance and a note payable to the City of
Tustin for $1,125,000 was not included in the Agency balance sheet.
The 1980 balance sheet has been revised to reflect these amounts. The
note was paid shortly after June 30, 1980.
ANNUAL
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REPORT
James B. Sharp,
Richard B. Edgar
Ron Hoesterey
Ursula Kennedy
Don Saltarelli
i.-I OROMIANCE NO. 510 AREA
ANNUAL REPORT
CITY OF TUSTIN
REDEVELOPMENT AGENCY
l m 11T:T:T
James B. Sharp, Chairman
Richard B. Edgar
Ron Hoesterey
Ursula Kennedy
Don Saltarelli
STAFF
Charles R. Thayer, (Interim) Executive Director
Ron Nault, Treasurer
Mary Wynn, Secretary /Clerk
James B. Rourke, Attorney
ASSOCIATE STAFF
Robert Ledendecker, Public Works Director
Mike Brotemarkle, Community Development Director
Prepared By:
R. Kenneth Fleagle, D.P.A.
Community Development Consultant
E
TABLE OF CONTENTS
Page
I. INTRODUCTION 1
II. A REVIEW OF THE REDEVELOPMENT AGENCY 2
A. Purpose and Activities
B. Personnel
C. A Profile of the Past and Future
D. Resources and Expenditures
E. Projected Projects and Revenue
III. CHRONOLOGICAL HISTORY OF THE TUSTIN REDEVELOPMENT AGENCY 8
1976 -77
1977 -78
1978 -79
1979 -80
1980 -81
IV. MAJOR PUBLIC PROJECTS WITHIN REDEVELOPMENT AREA 13
V. MAJOR PRIVATE PROJECTS WITHIN REDEVELOPMENT AREA 14
VI. GOALS AND ACHIEVEMENTS FOR 1980 -81 16
VII. GOALS AND PROJECTS FOR 1981 -82 17
VIII. RECOMMENDATIONS FOR NEEDED LEGISLATION 18
IX. AUDIT REPORT 19
(Under Separate Cover)
ii
A
I. INTRODUCTION
The Community Redevelopment Law, (Division 24, Part I, Chapter 1, Article 6
Sec. 33080. of the California Health and Safety Code) requires each agency to
file an annual report with the Department of Housing and Community
Development and with the City Council.
The report shall contain:
a. An independent financial audit report for the previous fiscal year.
b. A work program and goals for the coming year.
c. An examination of the previous year's achievements related to the goals
of the work program.
d. Recommendation for needed legislation.
The City Council is required to review the report and take appropriate action
at the first meeting of the Council which is held 21 days after receipt of
the report from the Redevelopment Agency.
This is the first formal report prepared by the Agency to the City Council in
accordance with the requirements of the Community Redevelopment Law.
However, the Council, as the Redevelopment Agency, has received audit and
project status reports during the history of the Agency. In order to create
a base and to recognize achievements of the Agency, this report summarizes
the activities of the Agency since it's inception.
This report includes the contributions of the City and private interests in
revitalizing the economic health of the Town Center Area as evidence of
achieving the intent and purpose of the Community Redevelopment Law.
M
II. A REVIEW OF THE REDEVELOPMENT AGENCY
A. Purpose and Activities
The City of Tustin created the Redevelopment Agency by Ordinance No. 696
on October 4, 1976, and adopted a plan for the Town Center Project Area
for the purpose of eliminating and preventing the spread of blight and
deterioration. Authorized actions of the agency include the following:
1. Providing for participation by owners and residents presently
located in the Project area by extending to them preferences to
remain or relocate within the redeveloped areas should their present
structure be suffering from deterioration requiring assistance;
2. Rehabilitation of structures and improvements by present owners,
their successors, or the.Agency;
3. Redevelopment of land by private enterprise or public agencies for
uses in accordance with this Plan;
4. Installation, construction, or reconstruction of streets, utilities,
and other public improvements such as center islands, street trees
and landscaping;
5. Acquisition of certain real property for public improvements or to
help expedite private development;
6. Relocation assistance to displaced residential and non- residential
occupants should the need arise;
7. Demolition or removal of certain buildings and improvements;
8. Management of any property acquired under the ownership and control
of the Agency;
9. Disposition of any property acquired by the Agency for uses in
accordance with this plan.
B. Personnel
The City Council assumed the duties of the Redevelopment Agency upon the
creation of the Agency in 1976.
Members of the Agency were: Richard B. Edgar, Chairman
James B. Sharp
Donald Saltarelli
Stephen L. Schuster
Ralph Welsh, Jr.
Councilman Schuster, being a property owner with the project limits
abstained from the actions of the Agency.
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Staff was appointed to the Agency on October 20, 1976 as follows:
Executive Director - William L. Bopf
Treasurer - Dan Blankenship
Secretary /Clerk - Ruth C. Poe
Redevelopment Attorney - James G. Rourke
Mr. Walter Fredricksen was selected as chariman of a citizens advisory committee.
Subsequent personnel changes are as follows:
Chairman:
Members:
Staff:
James B. Sharp - March 1977 - March 1978
Ralph Welsh, Jr. - March 1978 - March 1979
Don Saltarelli - March 1979 - April 1981
Ursula Kennedy vice Richad B. Edgar - March 1978
Richard B* Edgar - April 1980 - vice
Ron Hoesterey - April 1980 - v ci
Ralph Welsh Jr. and Steven Schuster
Executive Director:
Dan Blankenship vice William L. Bopf - Dec. 1977
Charles R. Thayer vice Dan Blankenship- June 1981
Treasurer:
Ed Bushong vice Dan Blankenship - Aug. 1978
Ron Nault vice Ed Bushong - Nov. 1980
Secretary /Clerk:
Mary Wynn vice Ruth Poe - April 1980
The Redevelopment Agency on June 30, 1981 was comprised of the following:
Chairman: James B. Sharp
Members: Richard B. Edgar
Ron Hoesterey
Ursula Kennedy
Don Saltarelli
Executive Director: Charles R. Thayer (Interim)
Treasurer: Ron Nault
Secretary /Clerk: Mary Wynn
Attorney: James B. Rourke
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C. A Profile of the Past and Future
The first project area of the Tustin Redevelopment Agency comprised the
Town Center Area outlined on Exhibit 1. Special concern and interest
was focused on the E1 Camino ea area bounded by First Street, Newport
Freeway, "C" Street and Prospect. The total redevelopment area consists
of 6% of the land area of the City but 3% of the property values.
Encouragement to private developers and the investment of public funds
were necessary to restore the economic viability of the area.
Four years of investment in the public property has been accompanied by
renewed interest and investment by the private sector.
Residential developments were not given emphasis within the old town
center area since it was first necessary to establish a firm economic
commercial base. However, an immediate goal was to attract new housing
for the elderly, which has been achieved. Within the E1 Camino Real
project area, only 20 properties are owner - occupied, as shown by Exhibit
2.
The Redevelopment Agency is unable to issue bonds due to the limitations
upon interest payments and curtailed revenue as a result of Proposition
13. As a result, the Agency has borrowed funds from the general fund of
the City and has constructed public improvements as funds become
available from tax increment revenues.
Major developments within the redevelopment area that have contributed
to its economic health are listed in Section V of this report. Land
uses approved within the redevelopment district since its creation
consists of the following percentage distribution by permit value:
Commercial and Retail Activities 32.16%
Office Buildings 10.04%
Banks and Savings and Loans 8.28%
Restaurants and Food Establishments 4.85%
Miscellaneous 4.92%
Residential 31.57%
Property Redevelopment 8.18%
IG0T-
The future of the town center area looks even more encouraging with
proposals for new developments to enhance the economic viability of the
area.
The challenge facing the Agency in the years ahead is to assure
compatibility of new developments with the objective of preserving the
community's heritage.
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--------- RRST
ST
TUSTIN
TO" CENTER REDEVELOPMENT AREA
44:
040OWS" NO SM AREA
EXHIBIT I
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44:
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EXHIBIT I
INVENTORY REDEVELOPMENT AREA
OWNER OCCUPIED RESIDENTIAL UNITS
A.P.#
ADDRESS
OWNER
401- 573 -10
305
S.
C Street
Lindsay, Ralph
401 - 571 -06
180
S.
E1 Camino Real
McClure, Tom
401- 584 -03
240
S.
Prospect Avenue
Bath, William
1
401 - 621 -11
500
S.
C Street
Stevens, Velma
401 - 621 -05
535
S.
B Street
Arnot, Reinhart
401 - 621 -08
255
W.
6th Street
Anderson, Charles
401 - 621 -09
434
S.
E1 Camino Real
Pottenger, Margaret
103 - 241 -32
1052 Bonita Street
Holland, Pearl
103- 241 -12
1022 Bonita Street
Lee, Marianne
401 - 581 -07
155
S.
Prospect Avenue
Sisk, Francess
2
401- 582 -01
240
E.
Third Street
Wong, Sidney
401- 541 -22
287
E.
Third Street
Snary, David
401 - 592 -09
305
E.
Third Street
Cimildora, Mary
401- 592 -07
235
Preble
Drive
Hernandez, Raul
3
401- 542 -01
190
S.
Centennial Way
De Iorio, Fred
103- 621 -34
1091 E.
Bryan Avenue
Okonsiki, Chester
103 - 200 -43
12952
Elizabeth Way
Ondemir and McCory
4
401 - 131 -12
14652
N. Prospect Avenue
City of Tustin
401- 622 -11
460
S.
E1 Camino
Boosey, Ina
401 - 571 -11
175
S.
C Street
Almond, Albert
1 Steven s sisters - Velma and Estelle
2 Retirement Home
3 Apartment
4 Leased to McCollough
Exhibit 2
D. Resources and Expenditures
The Redevelopment Agency was created with a base year assessed value of
$15,824,960. Tax increment revenues were limited to $600,000 average per
year and a $6.5 million limitation on bonded indebtedness. The first year in
tax receipts amounted to $209,237 in 1977 -78. Projetions of incremental tax
revenues available from the area and the inflated costs for public projects
have indicated the need to amend the Finance Plan to authorize a limitation
of an average yearly tax increment of $3 million.
A review of the RDA Finances from 1977 to June 30, 1981 is as follows:
RECEIPTS FROM TAX INCREMENT AND OTHER SOURCES
Audited Revenues:
1977 -78 $209,237
1978 -79 302,339
1979 -80 732,705 $1,244,281
Projected Revenue 1980 -81 $896,139
Estimated Revenue 1981 -82 992,688
$1,888,827
TOTAL ESTIMATED REVENUES THROUGH 6 -30 -82 $3,133,108
NON- CAPITAL EXPENDITURES
Audited Expenses:
1977 -78 $ 32,709
1978 -79 42,429
1979 -80 7,360
Projected Expenses 1980 -81 $ 15,228
1981 -82 109,832
TOTAL ESTIMATED NON - CAPITAL EXPENSES THROUGH 6 -30 -82
CAPITAL IMPROVEMENTS
Audited Expenses:
1977 -78
$ 59,400
1978 -79
104,121
1979 -80
473,287
Projected Expenses 1980 -81 ** $1,331,500
Projected Expenses 1981 -82 ** 2,108,600
TOTAL ESTIMATED CAPITAL EXPENSES THROUGH 6 -30 -82
G. •
omv:�:
$3,440,100
$4 - G7T, -'O$
TOTAL ESTIMATED REVENUE
Less estimated expenses for:
Non- capital
Capital
BALANCE 6 -30 -82
Amount loaned from General Fund
Difference
Amount shown in 1981 -82 budget
Variance
$3,133,108
(207,558)
(4,076,908)
$1,151,
$1,125,000
26 ,358
(31,646)
$ 5, )
* Source: Ron Nault, Treasurer
** These numbers require the necessity of adjusting both years by the $288,000
needed to complete E1 Camino Real undergrounding for fiscal year 1980 -81.
E. Projected Projects and Revenue
Plans have been approved for the following major projects within the
redevelopment aea:
Gfeller Development of Steven's Square
(Main and "C" Street)
Blanco Development
(100 block E1 Camino Real and "C" Street)
Spirit Development
(135 W. Main St.)
Far West
(First and Fashion Lane)
Kornwasser Project
(E1 Camino Real and Santa Ana Fwy)
Projects that are probable or in the preliminary stage include the following:
Segerstrom properties
(Newport Ave - Main to Laguna Road)
Burnett /Ehline
(Holt and Irvine Blvd.)
Mitchell Properties
(100 block, S. Prospect)
Prescott Properties
(E1 Camino Real)
Utt Juice Properties
(193 E. Main St.)
Based upon the approved and proposed projects, tax increment revenues are
projected as follows:
1982 -83 $1,272,845
1983 -84 1,612 ,508
1984 -85 2,004,465
1985 -86 2 ,550 ,511
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III. CHRONOLOGICAL HISTORY OF THE TUSTIN REDEVELOPMENT AGENCY*
1976 - 77
October The City of Tustin Redevelopment Agency was created on October 4,
1976, by the adoption of Ordinance No. 696. The City Council was
designated as the Redevelopment Agency and William F. Bopf was
appointed as the executive director. Procedures were established for
the disbursement and control of RDA funds.
Nobember The Redevelopment Plan was reviewed by the Planning Commission and
1977 - 78
July The fiscal year budget was adopted and revenue appropriated for
projects during 1977 -78.
August Right of way acquisition was approved for the widening of Newport
Avenue from Bonita to Andrews Street.
* Source. RDA Minutes
we
adopted by Ordinance No. 701 on November 22, 1976.
December
The Planning Commission and Community Development Department were
delegated authority for architectural control and design review.
January
The Agency approved the first structural project within the district
by the approval for Use Permit for the development of the Tustin Lanes
Bowling Alley at 1091 Old Irvine Boulevard.
An invitation was extended to the public for the creation of an
on -going advisory committee.
February
The Redevelopment Advisory Committee met on February 14 to develop
plans and recommend priorities for the central area of the City to
include E1 Camino Real lighting, landscaping, storm drain, traffic
signals and the extensions of Sixth Street.
Stone and Youngberg were identified as the financial consultant for
the Redevelopment Agency.
April
Walt Fredricksen, Chairman of the Advisory Committee, presented the
committee's report on projects and priorities.
June
The plans for the redevelopment of Larwin Square were approved and
plans were approved for the development of the former City Hall site
at 218 El Camino Real.
1977 - 78
July The fiscal year budget was adopted and revenue appropriated for
projects during 1977 -78.
August Right of way acquisition was approved for the widening of Newport
Avenue from Bonita to Andrews Street.
* Source. RDA Minutes
we
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September A report of capital improvement needs in the redevelopment area was
presented by the executive director.
October The agency appropriated $5,000 to establish the precise alignment of
the 6th Street extension to Newport Avenue and a workshop was held on
October 24 to review projects and plans.
November Budget allocations were approved and a loan was accepted from the
general fund for land acquisition and widening of Newport Avenue.
December Dan Blankenship, City Administrator, was appointed as Executive
Director of the Redevelopment Agency.
January Approval was granted for the Packer's Square project at 13122 Newport
Avenue.
February Progress report of the first years operation of the RDA was received
and filed.
March The preliminary budget for 1978 -79 was presented and'the upgrading of
the E1 Camino Real water lines was approved in conjunction with storm
drains and sewer projects.
April The preparation of plans for the undergrounding of utilities on
Newport Avenue was approved.
May Plans were approved for the construction of Coco's Restaurant in the
Courtyard Shopping Center and for Spires Restaurant in Larwin Square.
June The widening of Newport Avenue was authorized from 210' southerly of
Walnut Avenue to 180' northerly of San Juan.
A loan to the RDA from the City general fund was accepted.
1978 - 79
July The 1978 -79 budget for the Redevelopment Agency was adopted.
August Status report was presented by executive director
September A public hearing was conducted on Tax Increment Revenue to be received
in 1978 -79.
Authorization was granted for the sale of surplus property on the
easterly side of Newport Avenue which was not required for road
construction.
October Authorization was granted for the extension of 6th Street to Newport
Avenue
November Funds were appropriated and a bid awarded for the widening of Newport
Avenue.
WE
February Undergrounding District No. 4 was approved for the undergrounding of
utility lines adjacent to Larwin Square. The budget was revised and a
capital improvement status report presented.
May Plans were approved for a water main in E1 Camino Real extending from
First to Sixth Street.
June Plans were approved for the Sixth Street extension. Upgrading and new
traffic signals were authorized for E1 Camino Real and Main, E1 Camino
.Real and First Street, and a new installation at First and Centennial.
A bid in the amount of $78,796.65 was approved for undergrounding
utilities on First Street.
A loan in the amount of $1,125,000 was accepted from the City and
$984,500 was appropriated for the E1 Camino Real Undergrounding
Project.
XI • : Y
July
The E1 Camino Real Water Main bid in the amount of $83,615 was
approved. The construction of traffic signals was approved for E1
Camino Real and Main, E1 Camino Real and First, and First at
Centennial in the amount of $126,200.
August
Staff was directed to solicit development proposals on a case by case
basis for presentation to the Agency.
October
Sanitary Sewer lines were approved for the development at 150 -160 E1
Camino Real. The Capital Improvement Budget for 1979 -80 was
approved. The E1 Camino Real Water Main was completed.
December
Undergrounding District No. 4 for Larwin Square was completed.
January
The audit of compliance with the regulations was presented. The Sixth
Street impovement project was accepted.
March
Demands were approved in the amount of $257,243.15.
April
Plans and specifications were approved for modifiction of the center
island east of Prospect on First Street.
May
Demands were approved in the amount of $203,216.53. A bid was awarded
for the modification of the First Street center island in the amount
of $8,141.
The Agency stated that they did not want to make a policy statement
about the use of the power of eminent domain but when it is in the
best interest of the City, they would be willing to consider it on a
case by case basis.
Staff was directed to contact the School District about leasing or
acquiring school property next to Peppertree Park and to search for
developers willing to develop projects within the redevelopment area.
am
Y
�: �%
June Demands were approved in the amount of $16,882.68.
July Demands were approved in the amount of $267.50.
1980 - 81
August The 1980 -81 budget was approved allocating $1,602,300 for capital
improvements for a total of $1,823.051. Staff report was presented by
the Community Development Director indicating parking needs and
desirable locations.
September Notice of completion was received for the installation of traffic
signals.
A list of public improvement projects was presented by the Community
Development Director and approved.
October Notice of completion was received for the First Street Center Island
modification.
Design review and modifications were considered for the proposed
office building at 150 E1 Camino.
An additional $15,170 was appropriated for the center islands on
Newport Avenue.
December An appropriation of $36,800 was made for the Bryan -Main Triangle. An
additonal $18,000 was appropriated for Newport Avenue center islands.
February The E1 Camino Real Undergrounding District was approved. Staff was
directed to propose to the Gfeller Company a joint parking facility
between "C" and E1 Camino Real.
Funds were appropriated in the amount of $14,650 for engineering
studies for the Main Street and Sixth Street storm drains.
March A bid was accepted in the amount of $530,945 for the E1 Camino Real
Underground District.
Plans and specifications were approved for sanitary sewers for Second
and "C" Streets.
April A bid was awarded in the amount of $22,226.78 for the Second and C
Streets sewer improvements. Staff was directed as follows:
1. Participation with Gfeller on joint parking facility.
2. Continue exploration of acquisition of school property for
parking.
3. The property at Prospect and Second was proposed for purchase at
appraised value, to explore as lengthy an escrow as is feasible,
come back to the Agency with a proposal, and simultaneously find a
developer who will proceed in a manner of most benefit to the
City.
4. To make a study and report on an amendment to the Redevelopment
Finance Plan.
-11-
y
0
May Plans were approved for Main Street and Sixth Street storm drains.
Architectural design plans were approved as modified for the
development of property at 150 E1 Camino Real.
The Agency determined that it would not compete with a private
developer for acquisition of the Mitchell property on Prospect Street.
June Payment in the amount of $288,747.35 was authorized for the E1 Camino
Real underground district.
The Agency denied a waiver of parking requirements for the property at
E1 Camino Real and Second Street.
Demands were approved in the amount of $491,778.33. A bid was awarded
for the Main and Sixth Street storm drains in the amount of $277,333
and additional budget appropriations was made in the amount of $25,000
for the project.
-12-
AM
1
IV. MAJOR PUBLIC PROJECTS WITHIN REDEVELOPMENT AREA
(1976 to July 1981)
Street Projects
Newport Avenue widening (Bonita to Andrews)
Sixth Street extension to Newport Avenue
Traffic Signals
Newport Avenue and Bryan
Main and E1 Camino
E1 Camino and First
First and Centennial
Beautification
Newport Avenue Center Islands
Brian and Main Triangle Landscaping
Flood Control Projects
E1 Camino Real Storm Drain (Partial)
Main Street Storm Drains (Preble to "B" St)
Sixth Street Storm Drain,
Water Distribution
Sixth Street Main from Newport Aveue
E1 Camino Ral Main from First to Sixth Street
Undergrounding Of Utilities
E1 Camino Real District
Lrwin Square District
Sanitary Sewers
E1 Camino Real and "C" Street Project
-13-
-14-
V. MAJOR
PRIVATE PROJECTS WITHIN THE REDEVELOPMENT AREA
EXCEEDING $10,000 PERMIT VALUE
1976 TO JULY 1981
Commercial Developments
Address
Permit Value
Mervyn's Dept. Store
18182 Irvine
$1,355,000
Tustin Village Center
1081 -91 Main
608,000
Retail /Office Bldg.
100 W. First
107,889
Drug Store (Sav -On)
Holt - First
600,000
Courtyard
Holt- First- Irvine
692,500
Retail Shops
380 E. First
80,000
Retail Shops
220 E1 Camino
160,000
Commercial /Office
250 E1 Camino
393,822
Retail Shops
18331 Irvine
145,800
Packer's Square
13112 -32 Newport
1,305,308
Commercial Bldg.
13762 Newport
202,320
Commercial Bldg.
14751 Plaza Dr.
580,060
Commercial Bldg.
14771 Plaza Dr.
488,507
$6,865,006
32.16%
Office Buildings
Address
Permit Value
Financial Center
161 -231 Fashion Lane
314,100
Centennial Bldgs.
275 Centennial
341,718
Wellington Plaza
505 -15 E. First
865,188
Clock Towers
14742 Plaza Drive
489,811
Hummel Bldg.
13732 Newport
131,151
$21,95$
10.04%
Banks and Savings & Loan Address
Permit Value
Allstate Savings & Loan
18232 Irvine
80,000
Lloyds
701 E. First
264,000
Security Pacific
13471 Newport
222,000
Coast Savings & Loan
662 E. First
402,480
Central Federal Savings
& Loan 13522 Newport
800,000
$1,768,480
8.28%
Restaurants & Food Est.
Address
Permit Value
Tony's Sea Food
13612 Newport
109,400
Swensons
13572 Newport
150,000
Burger King
13421 Newport
130,000
Pizza Shop
651 E. First
45,000
Deli- Market
1095 E. Main
40,000
Sandwich Shop
14921 Holt
22,500
-14-
Restaurants & Food Est. (continued)
Spi res
CVcO/g
Bob's Big Boy
Miscellaneous
Tustin Lanes
Auto Repair
Southern Calif. Oil
Residential
Sd Units
138 Units
101 Senior Citizens
Triplex
Redevelopment Projects & Improvements
Tustin Square
Assistance League
Cdr Wash
Restaurant
Restaurant
Office Building
Larwin Square
Fiddlers Three
McQVnalds
Von's Market
Mercury Savings & Loan
Sunwest Bank
El Camino Bank
Tustin Heights
Shops & Stores
Shopping Center
0�
Address
1345I Newport
14971 Holt
13102 Newport
Address
Permit Value
$ 156,748
183,738
198,180
Permit Value
lOgl Old Irvine 972,000
90 Laguna Road 42,000
1011 Laguna Road 36,000
Address Permit Value
Plaza
Packer's Circle
275 6th 3t.
525 "B" St.
Address
580 El Camino Real
160 E. 2nd St.
lUI W. First Street
158 W. Main
556 E. First
18051 Irvine
Newport & First
1222 Ir1ne
245 E. First
550 E. First
1095 Irvine
535 E. First
300 El Camino Real
1142 Irvine
303-305 El Camino
12991 Newport
-15-
Total
$1,386,400
3,378,559
1,822,850
l52°2O2
$6,740,011
31.57%
Permit Value
$ 100,004
47 001
$1,747,000
8.1&%
VI. GOALS AND ACHIEVEMENTS FOR 1980 -81
The goals of the Redevelopment Agency within the Town Center Area Project for
1980 -81 were consistent with the original intent and purpose of the agency -
to stimulate private redevelopment by the investment of tax revenues in
public projects to enhance the safety convenience and welfare of the property
owners, merchants, and shoppers within the Town Center Area.
Projects approved by the Agency for FY 1980 -81 included the following:
1. Construction and landscaping of Center Islands on Newport Avenue.
2. Undergrounding of utilities on E1 Camino Real.
3. Construction of storm drains on Main Street and Sixth Street.
4. Construction of sanitary sewer facilities to serve properties in the 100
block of Second and "C" Streets.
5. Landscaping and beautification of the Main -Bryan triangle.
6. The development of public parking accommodations to serve the E1 Camino
Real commercial area.
All of the proposed projects for FY 1980 -81 were completed with the exception
of providing public parking accommodations for the E1 Camino Real Commercial
area. Substantial progress was made on this project during the fiscal year
with project completion programmed for FY 1981 -82.
The primary goal of the Redevelopment Agency for the year was to complete the
underground infrastructure of the redevelopment area to enable proceeding
with more visible public amenities for the area. The goal was achieved.
M
�_YXt
VII. GOALS & PROJECTS FOR FY 1981 -82
The Redevelopment Agency will move from an emphasis on planning to
implementation during FY 1981 -82. A primary goal and project is to provide
public parking accommodations in the town center area serving E1 Camino Real
southerly of Main Street. Funds have been carried over from previous year
allocation and commitment made for participation of joint public and private
parking facility.
Other parking related goals are the acquisition, lease, or joint
participation in parking facilities serving the E1 Camino Real area northerly
of Main Street.
Continuing projects consist of sign identity, landscaping, and street
furniture for the E1 Camino Real project area.
The preparation of design plans is authorized for the development of Columbus
Tustin Park.
Reconstruction and improvements to streets and alleys are programed for the
year.
The Redevelopment Agency finds that it is necessary to increase the
limitation on tax increment revenues and bonded indebtedness to carry out the
objectives of the plan. This is an objective for FY 1981 -82.
The initial goal of the Redevelopment Agency was to encourage private
redevelopment within the area. Projections for 1981 -82 forecast a greater
commitment of private funds to development and redevelopment within the area
than any year in the history of the agency thereby contributing to the goals
of the Redevelopment Agency.
-17-
VIII RECOMMENDATIONS FOR NEEDED LEGISLATION
Section 33545(d) of the Health and Safety Code establishes the maximum rate
of interest on agency bonds at ten percent (10 %). Federal legislation now
authorizes savings and loan associations to issue tax free certificates at
rates that are considerably higher and related to the rates paid for Treasury
Bills.
It thus becomes impossible for a Redevelopment Agency to market bonds at a
artificially restricted low interest rate when private institutions can make
far more attractive investment opportunities with tax exempt status.
Legislation is required to permit redevelopment agency bonds to be issued at
market rates, subject only to assurances of the financial security of the
issue.
so
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Kl
IX. AUDIT REPORT
/UNDER SEPARATE COVER)
-19-
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Appendix A
Vacant Land
CITY OF
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TUSTIN
• .M., I.-P%TIM-5-4-MA��
�nri.
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1 '77
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Appendix A
Vacant Land
CITY OF
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