HomeMy WebLinkAboutRDA AGENCY POLICIES 11-02-81DATE:
TO:
FROM:
S UBJ ECT:
October 27, 1981
REDEVELOPMENT AGENCY
Inter-Corn
BOARD CF DIRECTORS, TUSTIN REDEV~OPMf~T K~f~CY
BILL ~3STCfl, EXECUTIVE DIRECTOR
DRAFT CF ~CY POLICIES
At its October 26, 1981 w~rkshop, the Board directed staff to prepare for
the Board's ~onsideration a draft of policies to be utilized in formulating
specific redevelopment strategies and programs. Attached to this
memorandum is a list of general policies for the Board's review. These
policies can be expanded since the initial draft is not intended to be all
inclusive.
Upon adoption of Agency policies, staff will proceed with identifying, for
the Board's review and approval, specific sites which could be developed or
redeveloped ~onsistent with the Town Center Project Area Plan. Staff will
also identify strategies which could be enuployed by the Agency in
stimulating and facilitating development.
This agenda item does not require formal action at this time. It was
placed on the agenda in order for the Board to refine those initial
policies identified at the October 26, 1981 ~rkshop.
BILL HUSTCfl,
City Manager
DRAFT
~3STIN REDEVELOPMf~ Ac. FNCY
ST~ OF AGf~SY POLICIES
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Priority for the expenditure of tax increment revenue will be given to
projects which stimulate and facilitate sales tax generating
co,,,~rcial projects.
~gency funded capital improvements within public rights-of-way
(infrastructure) should be integrated with private developments which
are consistent with the Agency's adopted redevelopment project area
plans.
Agency funded capital improvements within public rights-of-way should
be prioritized and scheduled so as not to preclude the option to
finance critical non-capital improvement projects.
Consistent with California Redevelol~ent Law, the Agency will exercise
its powers of eminent domain, condemnation, or negotiated acquisition
and sale of land where such actions result in achievement of
objectives set forth in redevelopment project area plans. ~These
powers shall only be exercised where it can be demonstrated that
without Agency participation, a develo~nent (consistent with the
objectives of the project area plan), would not otherwise proceed.
A financial analysis will be prepared which identifies the most
appropriate means of financing Agency projects. ~he financial
analysis will be prepared taking into account State laws concerning
debt (incurring debt to receive annual tax increment) and the Agency's
project plans (level and rate of Agency expenditures).
Trend use, economic base and financial feasibility studies will be
prepared for the Irvine land to determine the r. ccd for Agency
participation in development of this area.
Project area plans will be prepared for the Bonita/Bryant area and the
South Tustin area (bounded by Newport Avenue and Highways 5 and 55).
A legal and financial analysis will be prepared concerning the use of
Town Center Project Area tax increment funds for public improvements
(e.g. Newport Avenue extension) outside the Project Area but which
benefit it (e.g. improved traffic circulation).