HomeMy WebLinkAboutRA 2009-004RESOLUTION NO RA 2009-004
RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF ATASCADERO,
CALIFORNIA, IRREVOCABLY ALLOCATING FUNDS
FOR COMPLETION OF THE CITY OF
ATASCADERO'S LAKE PARK SIGN AND FRONTAGE
IMPROVEMENTS PROJECT
WHEREAS, the City Council for the City of Atascadero (the "City") has adopted the
Redevelopment Plan for the Project Area (the "Redevelopment Plan")
WHEREAS, the Community Redevelopment Agency of Atascadero (the "Agency") and
the Agency Board of Directors ("Board") is vested with responsibility pursuant to the
Community Redevelopment Law (Part 1 of Division 24 of Health and Safety Code of the State
of California) (the "Law") to implement the Redevelopment Plan in the Project Area.
WHEREAS, the City has commenced planning and design for the construction of Lake
Park Sign and Frontage Improvements Project (the "Project") at Atascadero Lake Park within the
City which public facilities upon their completion will be owned and operated by the City
WHEREAS, the Project will address the goals and objectives of the Redevelopment Plan
for the Project Area and will be of benefit to the Project Area in that the Project will improve the
public safety, attract additional tourists, assist with improving physical aesthetics, and alleviate
blighting conditions in the area serving as the gateway to the Project Area.
WHEREAS, the Project is consistent with and will promote the Agency's
Implementation Plan.
WHEREAS, the construction of the Project conforms to the General Plan of the City
WHEREAS, the City lacks sufficient capital or general funds available which could be
used to undertake the Project and bring it to completion and it is not practical to arrange for
assessment district or any other similar financing for the Project.
WHEREAS, the City has represented to the Agency that final planning and public
bidding required before construction on the Project may commence and may take up to 24
months to be completed.
WHEREAS, the Agency intends to provide funding ("the Agency Funds") to assist the
City with the cost of the Project in order that the Project be fully funded.
WHEREAS, the Agency upon adoption of this resolution, will enter into a binding
contract ("Agreement") with the City pursuant to which the Agency will irrevocably commit the
top Agency Funds to the Project.
Community Redevelopment Agency of Atascadero
Resolution No. RA 2009-004
Page 2 of 3
WHEREAS, a staff report (the "Staff Report," incorporated herein by reference), which
sets forth facts supporting the findings made in this resolution pursuant to Section 33445 of the
Health and Safety Code, has been prepared to accompany this resolution
WHEREAS, pursuant to Health and Safety Code Section 33445, the Agency may, with
the consent of the City, pay part or all of the cost of the construction of the Project if the Board
and the City make certain specified findings
NOW, THEREFORE BE IT RESOLVED
1 That the Board hereby finds and determines that: (a) the Project will be of benefit
to the Project Area, (b) no other reasonable method of financing the gap between
the total cost of construction of the Project and the funds available to the City is
available to the community; (c) the Project will assist in the elimination of one or
more blighting conditions inside the Project Area, and (d) Agency assistance for
the Project is consistent with the Agency's current Implementation Plan The
factual and analytical basis used by the Agency in making these findings and
determinations is set forth in the Staff Report, and materials regarding the Project
provided to the Agency
2 That the Board approves the expenditure of Agency Funds as set forth in the
Agreement, between the Agency and the City and submitted to the Agency in
connection with consideration of this Resolution That the Agency hereby
authorizes the Executive Director of the Agency to segregate four hundred thirty
MW thousand, one hundred eighty dollars and no cents ($430,180 00), within the
Agency's accounts to be held in a separate account ("Escrow Account") upon
execution of the Agreement governing the use of and accounting for the Agency
Funds
3 That the Board directs the Executive Director of the Agency to execute the
Agreement with the City irrevocably committing the Agency Funds to the City for
the Project and requiring that the Agency Funds be held in a separate account
pursuant to IRS Code Section 18(b)
IT IS FURTHER RESOLVED AND ORDERED that this resolution will become
effective upon the effective date of approval by the Agency's Board of Directors
On motion by Board Member O'Malley and seconded by Board Member Clay, the foregoing
resolution is hereby adopted in its entirety on the following roll call vote
AYES Board Members Beraud, Clay Fonzi, O'Malley and Chairperson Kelley
NOES None
ABSENT None
ADOPTED December 8, 2009
VM
Community Redevelopment Agency of Atascadero
Resolution No. RA 2009-004
Page 3 of 3
ATTEST
Marcia McClure Torgerson, C.M.C.
Agency Secretary
APP VIED AS FORM.
11 7
v'
Brian A. Pienk, Agency Counsel
COMMUNITY REDEVELOPMENT
AGENCY OF ATASCADERO
By
Bob Kelley, Cha' person