HomeMy WebLinkAboutRDA 03 (JOINT ITEM 18) TAX INCREMENT FOR SR-55 EXT PROJ 03-20-07
AGENDA REPORT
Agenda Item
Reviewed:
City Manager
Finance Director
RDA3
MEETING DATE: MARCH 20, 2007
TO: REDEVELOPMENT AGENCY BOARD OF DIRECTORS AND
TUSTIN CITY COUNCil
FROM: WilliAM HUSTON, CITY MANAGER
SUBJECT: BENEFIT RESOLUTIONS FOR USE OF MCAS TUSTIN REDEVELOPMENT
TAX INCREMENT FUNDS FOR A PORTION OF THE COSTS OF PHASE
I NEWPORT AVENUE EXTENSION/NORTHBOUND SR-55 RAMP
RECONFIGURATION/EDINGER AVENUE WIDENING PROJECT
IMPROVEMENTS
SUMMARY
Agency and City Council consent is requested to allow the Tustin Community
Redevelopment Agency Executive Director to pay all or a part of the costs of acquisition
and construction of Phase I Newport Avenue Extension/Northbound SR-55 Ramp
Reconfiguration/Edinger Avenue Widening Project Improvements out of MCAS Tustin
Redevelopment Project tax increment.
RECOMMENDATION
It is recommended that the Tustin Community Redevelopment Agency adopt RDA
Resolution No. 07-01.
It is recommended that the Tustin City Council adopt City Council Resolution 07-30.
FISCAL IMPACT
Adoption of the attached resolutions will permit the Redevelopment Agency Executive
Director to pay from Agency funds out of the MCAS Tustin Redevelopment Project
Area, the cost of acquisition of land, installation and construction of certain street
improvements identified as Phase I Newport Avenue Extension/Northbound SR-55
Ramp Reconfiguration/Edinger Avenue Widening Project Improvements.
BACKGROUND
Section 33445 of California Community Redevelopment Law provides that a
redevelopment agency is authorized, with consent of a Redevelopment Agency and
legislative body, to pay all or a part of the costs of acquisition and construction of any
building, facility, structure, or other improvement which is to be publicly owned
either within or outside of a redevelopment project area provided certain findings are
made by the legislative body.
The City has obtained an order of immediate possession for purchase of certain
properties owned by AAE Pacific Park Associates, LLC and has identified the need to
purchase additional AAE property to conclude the transaction with AAE and to complete
the construction of Phase I Newport Avenue Extension/ Northbound SR-55 Ramp
Reconfiguration/Edinger Avenue Widening Project Improvements.
Staff have worked with the City's special redevelopment counsel, Brent Hawkins with
McDonough Holland & Allen, in consultation with the City Attorney in preparation of the
findings of support necessary for use of MCAS Tustin Redevelopment Project funds to
complete the acquisition and construction of this critical project. Supporting findings are
attached in Redevelopment Agency Resolution 07-01 and in City Council Resolution 07-
30.
William Huston, City Manager
PLEASE REFER TO
ITEM NO. 18
OF CITY COUNCIL PACKET FOR
BACKUP DOCUMENTATION