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HomeMy WebLinkAboutRDA Agenda Packet 101204PUBLIC REVIEW City Manager's Office CITY OF ATASCADERO COMMUNITY REDEVELOPMENT AGENCY AGENDA TUESDAY, October 12, 2004 6:30 P.M. Atascadero Lake Pavilion 9315 Pismo St. Atascadero, California ROLL CALL: Chairperson O'Malley Vice Chairperson Pacas Board Member Luna Board Member Clay Board Member Scalise APPROVAL OF AGENDA: Roll Call COMMUNITY FORUM: BOARD ANNOUNCEMENTS AND REPORTS: (On their own initiative, the Board Members may make a brief announcement or a brief report on their own activities. Board Members may ask a question for clarification, make a referral to staff or take action to have staff place a matter of business on a future agenda. The Board may take action on items listed on the Agenda.) A. CONSENT CALENDAR: 1. Community Redevelopment Agency Minutes — September 14, 2004 ■ Board Secretary recommendation: Board approve the Community Redevelopment Agency minutes of September 14, 2004. [Board Secretary] 1 `3 A N1 2 MANAGEMENT: Bond Finance Team ■ Fiscal Impact: Costs are included in the financing. Staff Recommendation: Board Authorize City Manager to execute agreements with Piper Jaffray and Quint & Thimming for financial and legal assistance for a Redevelopment Agency Tax Increment Bond. [Executive Director] Board recess meeting to resume immediately following the City Council Meeting. 2. Purchase of Parcel 3 of Parcel Map 85-225 (Generally known as Creekside Lanes) ■ Fiscal Impact: Expense in the amount of $1,300,000. ■ Staff Recommendation: Agency Board approve Resolution approving Purchase Agreement with Creekside Parcel Associates for the purchase of Parcel 3 of Parcel Map 85-225 (generally known as Creekside Lanes) for the purchase price of $1,300,000, and authorize the purchase to be included in the upcoming Agency financing. [Executive Director] EXECUTIVE DIRECTOR REPORT: Wade McKinney, Executive Director ADJOURNMENT ITEM NUMBER: A-1 DATE: 10/12/04 ilEl��l �i,lnl _I,�►CITY OFATASCADER0 COMMUNITY REDEVELOPMENT AGENCY DRAFT MINUTES Tuesday, September 14, 2004 6:30 P.M. Chairperson O'Malley called the meeting to order at 6:30 p.m. ROLL CALL: Present: Board Members Clay, Luna, Scalise, Pacas and Chairperson O'Malley Absent: None Others Present: Board Secretary Marcia McClure Torgerson and Recording Secretary Grace Pucci Staff Present: Executive Director Wade McKinney, Board Treasurer Rachelle Rickard, Community Development Director Warren Frace, Community Services Director Brady Cherry, Fire Chief Kurt Stone, Acting Police Chief John Couch, Redevelopment Specialist Marty Tracey, Associate Planner Kelly Gleason and Interim City Attorney Tom Gibson. COMMUNITY FORUM: Eric Greening suggested the Board consider using any excess tax increment money to help the Youth Center and the new location of the George Beatie Skate Park. Chairperson O'Malley closed the Community Forum period. RDA Draft Minutes 09/14/04 Page 1 of 2 3 APPROVAL OF AGENDA: MOTION: By Board Member Luna and seconded by Board Member Clay to approve the agenda. Motion passed 5:0 by a roll -call vote. BOARD ANNOUNCEMENTS AND REPORTS: Board Member Clay stated that Atascadero does have an operating Youth Center; it is improvements to that center that are in the works. A. CONSENT CALENDAR: None B. EXECUTIVE DIRECTOR REPORT: Wade McKinney, Executive Director No report. C. ADJOURNMENT Chairperson O'Malley adjourned the meeting at 6:39 p.m. MEETING RECORDED AND MINUTES PREPARED BY: Grace Pucci, Recording Secretary RDA Draft Minutes 09/14/04 4 Page 2 of 2 I I CIVI IVUIVIOMM: CS 1 ITEM NUMBER: B - 1 DATE: 10/12/04 Community Redevelopment Agency of Atascadero Staff Report - Executive Director Bond Finance Team RECOMMENDATION: Board authorize City Manager to execute agreements with Piper Jaffray and Quint & Thimming for financial and legal assistance for a Redevelopment Agency Tax Increment Bond. DISCUSSION: The Redevelopment Agency is preparing to issue a Tax Increment Bond to finance certain improvements to implement the Redevelopment Plan and revitalize downtown. Agency Staff have interviewed several firms to provide financial and legal assistance for the Bond issuance. Staff recommends the firms of Piper Jaffray for financial services and Quint & Thimming for legal services. These firms have considerable experience with this type of financing. Mark Curran of Piper Jaffray made an informational presentation to the Agency August 24`h. FISCAL IMPACT: Costs are included in the financing. ATTACHMENT: Proposed financing schedule. k ATASCADERO REDEVELOPMENT AGENCY SERIES 2004 BONDS ESTIMATED FINANCE SCHEDULE AS OF October 1, 2004 October 5 October 8 October 10 October 12 October 13 October 14 October 18 Week of October 20 October 29 November 1 November 3 November 9 November 10 • Underwriter distributes new cash flows & revenue forecast • Contracts and letter for of proposals to City • Underwriter distributes subordination package • Bond Council distributes bond resolutions • Comments due to Underwriter on Subordination package • First round of POS distributed • Subordination packages sent out registered mail • All hands conference call to discuss preliminary documents • Underwriter distributes ratings and insurer credit presentation • Comments due to Underwriter on ratings presentation • Tentative Conference Call • Tentative Conference Call • Underwriter & City Staff to follow up on Subordination requests • Ratings & Insurance telephonic presentations • Discussion with City Staff on final bond sizing • Full package for November approval to City • Receipt of bond insurance responses and bond ratings • Agency Board & City Council consideration of financing • Meeting on final financing sizing & subordination When subordinations complete and Agency staff analysis of desired funding levels and cash flow approval—POS to printers. Likely earliest date for this action: November 18, 2004. OCTOBER S M T W T F S S 1 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31' 30 ATASCADERO REDEVELOPMENT AGENCY SERIES 2004 BONDS ESTIMATED FINANCE SCHEDULE AS OF October 1, 2004 October 5 October 8 October 10 October 12 October 13 October 14 October 18 Week of October 20 October 29 November 1 November 3 November 9 November 10 • Underwriter distributes new cash flows & revenue forecast • Contracts and letter for of proposals to City • Underwriter distributes subordination package • Bond Council distributes bond resolutions • Comments due to Underwriter on Subordination package • First round of POS distributed • Subordination packages sent out registered mail • All hands conference call to discuss preliminary documents • Underwriter distributes ratings and insurer credit presentation • Comments due to Underwriter on ratings presentation • Tentative Conference Call • Tentative Conference Call • Underwriter & City Staff to follow up on Subordination requests • Ratings & Insurance telephonic presentations • Discussion with City Staff on final bond sizing • Full package for November approval to City • Receipt of bond insurance responses and bond ratings • Agency Board & City Council consideration of financing • Meeting on final financing sizing & subordination When subordinations complete and Agency staff analysis of desired funding levels and cash flow approval—POS to printers. Likely earliest date for this action: November 18, 2004. NOVEMBER S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25, 26 27 28 29 30 ATASCADERO REDEVELOPMENT AGENCY SERIES 2004 BONDS ESTIMATED FINANCE SCHEDULE AS OF October 1, 2004 October 5 October 8 October 10 October 12 October 13 October 14 October 18 Week of October 20 October 29 November 1 November 3 November 9 November 10 • Underwriter distributes new cash flows & revenue forecast • Contracts and letter for of proposals to City • Underwriter distributes subordination package • Bond Council distributes bond resolutions • Comments due to Underwriter on Subordination package • First round of POS distributed • Subordination packages sent out registered mail • All hands conference call to discuss preliminary documents • Underwriter distributes ratings and insurer credit presentation • Comments due to Underwriter on ratings presentation • Tentative Conference Call • Tentative Conference Call • Underwriter & City Staff to follow up on Subordination requests • Ratings & Insurance telephonic presentations • Discussion with City Staff on final bond sizing • Full package for November approval to City • Receipt of bond insurance responses and bond ratings • Agency Board & City Council consideration of financing • Meeting on final financing sizing & subordination When subordinations complete and Agency staff analysis of desired funding levels and cash flow approval—POS to printers. Likely earliest date for this action: November 18, 2004. ITEM NUMBER: B - 2 DATE: 10/12/04 Community Redevelopment Agency of Atascadero Staff Report - Executive Director Purchase of Parcel 3 of Parcel Map 85-225 (Generally Known as Creekside Lanes) RECOMMENDATION: Agency Board approve Resolution approving Purchase Agreement with Creekside Parcel Associates for the purchase of Parcel 3 of Parcel Map 85-225 (generally known as Creekside Lanes) for the purchase price of $1,300,000, and authorize the purchase to be included in the upcoming Agency financing. DISCUSSION: Background: The original City Hall was severely damaged as a result of the San Simeon earthquake on December 22, 2003, which caused City operations to relocate into a cramped temporary facility. The City's lease in the temporary annex expires in December 2004. Dr. James Harrison and other owners have proposed a new commercial project on the property where the annex is located. Conceptual plans of the new project call for the facility currently occupied by City Hall Annex to be demolished. In a creative plan, the Atascadero City Council has structured a settlement of the two- year-old Creekside lawsuit clearing the way for improvements to the creek to protect the building and getting the Historical Society, Atascadero Unified School District and the City out of Court. The foundation of the settlement is the purchase of the bowling alley to be used as a temporary City Hall until the earthquake damage can be repaired at the City's historic Administration Building. Purchase of the building provides a solution to a difficult problem for the City. Atascadero has few buildings large enough to house City operations, and no buildings are currently on the market or vacant. The City investigated possible locations to construct a metal building or install temporary trailers. Property acquisition requires additional lead-time and construction of a metal building is estimated to take 14 months according to local metal building contractors. This leaves the City without a facility between the expiration of the current lease and the completion of a new building. The new building or trailers are further complicated because the City does not have a good 7 ITEM NUMBER: B - 2 DATE: 10/12/04 site to locate due to utility and future use constraints. The City did consider constructing a building that could be used for a future use such as a fire station or youth center. However concerns over location and building issues were problematic for a potential fire station, and the City is committed to the Youth Center on Traffic Way. Authority: Pursuant to Health and Safety Code Section 33445(g)(2)(B), and section 340.4 of the Community Redevelopment Agency Redevelopment Plan, the Agency may, with the consent of the City Council, use tax increment funds for the purpose of purchasing a building that will be used as a City Hall. During its September 28, 2004 meeting, the City Council held a duly noticed public hearing and found that the Agency's financing of the Creekside Lanes purchase is of benefit to the Project Area; that there is no other reasonable means of financing the purchase; that the Agency's financing of Creekside Lanes will assist in the elimination of physical and economic blight conditions by encouraging new development and providing employment opportunities in the Project Area; and, that the Agency's financing of the purchase is consistent with the Five Year Implementation Plan adopted for the Redevelopment Plan pursuant to Health and Safety Code Section 33490. Ownership of the property would put the Agency in a position to further downtown revitalization through creek enhancement, revitalization of the building for City Hall purposes, make the Agency a principal stakeholder in how the remainder of the site is developed, and keep City Hall operations in the downtown. Agency ownership of the Creekside Lanes facility is consistent with the Community Redevelopment Agency Redevelopment Plan. Goals of this plan include elimination of such conditions of blight by providing needed public improvements, improvements and revitalization of the downtown, and to encourage rehabilitation and repair of deteriorated structures. Conclusion: The purchase of Creekside is consistent with the Redevelopment Plan, and will add to the overall economic health and utilization of the downtown area. Staff recommends approval of the purchase as presented, and authorize the purchase to be included in the upcoming Agency bond financing. FISCAL IMPACT: Expense in the amount of $1,300,000. ALTERNATIVES: Reject the purchase. ITEM NUMBER: B - 2 DATE: 10/12/04 ATTACHMENTS: 1. Resolution of the Redevelopment Agency 2. Summary Report 3. Resolution of City Council DRAFT RESOLUTION A RESOLUTION OF THE ATASCADERO COMMUNITY REDEVELOPMENT AGENCY APPROVING A PURCHASE AGREEMENT WITH CREEKSIDE PARCEL ASSOCIATES, JAMES M. HARRISON AND KENNETH B. FRYER FOR CERTAIN PROPERTY COMMONLY KNOW AS CREEKSIDE LANES WHEREAS, pursuant to the Community Redevelopment Law of the State of California (Redevelopment Law), the City of Atascadero (City) has adopted a Redevelopment Plan for the Redevelopment Project Area (Project Area) administered by the Atascadero Community Redevelopment Agency (Agency); and WHEREAS, the City has reached settlement in the matter of Creekside v. City of Atascadero wherein the City has agreed to purchase certain real property commonly known as Creekside Lanes and appurtenances (Creekside Property), for One Million Three Hundred Thousand Dollars ($1,300,000) from Creekside Parcel Associates, a California general partnership, James M. Harrison, and Kenneth B. Fryer (collectively, Owner); and WHEREAS, the City's general fund and reserves are limited and are subject to uncontrollable reductions as a result of diminished sales tax and Transient Occupancy Tax (TOT) revenue, in addition to actions by the State of California (State) that take City funds for State purposes; and WHEREAS, at this time, it is financially infeasible for the City to purchase the Creekside Property with its general fund and reserve revenues; and WHEREAS, the Creekside Property is located in the Project Area, and business operations on the Creekside Property are scheduled to cease in the near future, causing closure of the business facilities on the Creekside Property; and WHEREAS, the Creekside Property has degraded in maintenance and repair to the point that its condition is adding to the overall blighted state of the Project Area; and WHEREAS, the Agency and the Owner have negotiated the terms of a proposed purchase agreement (Agreement) that provides, among other things, that the Agency will purchase the Creekside Property from the Owner in order to provide for a temporary City Hall facility (Public Improvements) which would temporarily replace an existing City Hall facility that was seriously damaged due to an earthquake on December 22, 2003; and WHEREAS, whereas, pursuant to Health & Safety Code Section 33445(g), the Agency may use tax increment funds for the purpose of replacing a city hall that was seriously damaged during an earthquake declared by the President of the United States to be a natural disaster; and WHEREAS, in a letter dated January 13, 2004, the President of the United States declared that the damage in certain areas of the State resulting from an earthquake on December 22, 2003 was of sufficient severity and magnitude to warrant a major disaster declaration under 10 City of Atascadero Draft Resolution Page 2 of 3 the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. Sections 5121- 5206); and WHEREAS, pursuant to Health and Safety Code Section 33445, the Agency may, with the consent of the City Council, purchase the Creekside Property and pay all or part of the costs of the Public Improvements if the City Council makes certain findings; and WHEREAS, in accordance with Health and Safety Code Section 33679 on September 28, 2004 the City Council conducted a duly noticed public hearing to consider the Agency's financing of the Public Improvements and the City Council made certain findings related to the same; and WHEREAS, no later than the time of the first publication of the notice of the public hearing, the Agency made available for public inspection a report ("Summary Report") setting forth the information required by Health and Safety Code Section 33679; and WHEREAS, the Agency has duly considered the impact of purchasing the Creekside Property to the Project Area, and believes that using Agency funds for this purpose will be of benefit to the Project Area, that no other funds are reasonably available to purchase the Creekside Property, and that the purchase will assist in the elimination of blighted conditions within the Project Area; WHEREAS, the Agency desires to purchase the Creekside Property with the intention that when bonds of the Agency are issued and sold to finance the design, construction and acquisition of the Public Improvements, the Agency will be reimbursed the amounts advanced by it for the Public Improvements. NOW, THEREFORE, BE IT RESOLVED by the Atascadero Community Redevelopment Agency as follows: Section 1. All of the recitals set forth above are true and correct and are hereby incorporated by this reference. Section 2. The Agency hereby approves the Agreement in the form attached to this Resolution. Section 3. The Agency hereby authorizes and directs the Executive Director of the Agency to: (i) execute and deliver the Agreement, subject to such non -substantive modifications to the Agreement as the Executive Director of the Agency deems necessary and appropriate and (ii) to execute and deliver such other documents and instruments as may be reasonably necessary or convenient to implement or carry out the Agency's obligations under the Agreement. Section 4. This Resolution will take effect upon adoption. PASSED AND ADOPTED at a regular meeting of the Atascadero Community Redevelopment Agency, California, held on this day of 2004. 11 City of Atascadero Draft Resolution Page 3 of 3 ATTEST: Lo Marcia McClure Torgerson, C.M.C., City Clerk APPROVED AS TO FORM: IM 12 Thomas R. Gibson, Interim City Attorney ATASCADERO COMMUNITY REDEVELOPMENT AGENCY Chairperson, Tom O'Malley SUMMARY REPORT PURSUANT TO SECTIONS 33445 AND 33679 OF THE CALIFORNIA HEALTH AND SAFETY CODE FOR THE PURCHASE OF REAL PROPERTY LOCATED AT 6901 EL CAMINO REAL, ATASCADERO, CALIFORNIA Pursuant to Health and Safety Code Section 33679, the City Council of the City of Atascadero must hold a public hearing to approve such expenditures. A summary report which includes all of the following findings must be available for public inspection prior to the public hearing. Before the Atascadero Community Redevelopment Agency may expend its tax increment funds for the purposes of acquiring land or paying all or part of the costs for installation and construction of any publicly owned facility, Health and Safety Code Sections 33445 and 33679 prescribe that certain procedures must be followed: Further, a summary report must be prepared that provides the following information: 1. That the buildings, facilities, structures, or other improvements are of benefit to the project area or the immediate neighborhood in which the project is located. 2. That no other reasonable means of financing the buildings, facilities, structures, or other improvements, are available to the community. 3. That the payment of funds for the acquisition of the land or the cost of buildings, facilities, structures, or other improvements will assist in the elimination of on or more blighting conditions inside the project area or provide housing for low -or moderate -income persons, and is consistent with the implementation plan adopted pursuant to Section 33490. The purpose of this report is to provide information on the benefit to the project area, that there is no other reasonable means available to purchase the property to the community, that the acquisition payment that will be made by the Agency will aid in the elimination of blight, and is consistent with the Implementation Plan adopted pursuant to Section 33490. Project History The original City Hall was severely damaged as a result of the San Simeon earthquake on December 22, 2003, which caused City operations to relocate into a cramped temporary facility. The City's lease in the temporary annex expires in December 2004. Dr. James Harrison and other owners have proposed a new commercial project on the property where the annex is located. Conceptual plans of the new project call for the facility currently occupied by City Hall Annex to be demolished. In a creative plan the Atascadero City Council has structured a settlement of the two year old Creekside lawsuit clearing the way for improvements to the creek to protect the building and getting the Historical Society, Atascadero Unified School District and the City out of Court. The foundation of the settlement is the purchase of the bowling alley 13 to be used as a temporary City Hall until the earthquake damage can be repaired at the City's historic Administration Building. Purchase of the building provides a solution to a difficult problem for the City. Atascadero has few buildings large enough to house City operations, and no buildings are currently on the market or vacant. The City investigated possible locations to construct a metal building or install temporary trailers. Property acquisition requires additional lead- time and construction of a metal building is estimated to take 14 months according to local metal building contractors. This leaves the City without a facility_ between the expiration of the current lease and the completion of a new building. The new building or trailers are further complicated because the City does not have a good site to locate due to utility and future use constraints. The City did consider constructing a building that could be used for a future use such as a fire station or youth center. However concerns over location and building issues were problematic for a potential fire station and the City is committed to the Youth Center on Traffic Way. General Project Description Redevelopment Agency proposes to purchase of the Creekside Lanes building and related real property appurtenances. The cost of acquisition will be $1,300,000 pursuant to the terms of the settlement associated with the Creekside v. City of Atascadero lawsuit. No Other Reasonable Means of Financing Available to Community_ Without financing from the Agency the City will not be able to provide funding for the acquisition and construction of the proposed temporary City Hall without undue hardship on the City's existing general fund. The City is not in a financial position to provide for the costs associated with the possible land acquisition, site developments, and remediation necessary to develop the proposed temporary City Hall. Therefore it is the City's conclusion that there is no other reasonable method of financing the proposed temporary City Hall other than by the financing of the Agency. Rationale Ownership of the property would put the Agency in a position to further downtown revitalization through creek enhancement, revitalization of the building for City Hall purposes, and make the Agency a principal stakeholder in how the remainder of the site is developed, and keeping City Hall operations in the downtown. Pursuant to Health and Safety Code Section 33445(g)(2)(B), and section 340.4 of the Community Redevelopment Agency Redevelopment Plan, the Agency may, with the consent of the City Council, use tax increment funds for the purpose of purchasing a building that will be used as a City Hall. Agency ownership of the Creekside Lanes facility is consistent with the Community Redevelopment Agency Redevelopment Plan. Goals of this plan include elimination of such conditions of blight by providing needed public improvements, improvements and revitalization of the downtown, and to encourage rehabilitation and repair of deteriorated structures. 14 DRAFT RESOLUTION A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ATASCADERO APPROVING THE ATASCADERO COMMUNITY REDEVELOPMENT AGENCY'S FINANCING OF CERTAIN PUBLIC IMPROVEMENTS PURSUANT TO HEALTH AND SAFETY CODE SECTION 33445 WHEREAS, pursuant to the Community Redevelopment Law of the State of California (Redevelopment Law), the City of Atascadero (City) has adopted a Redevelopment Plan for the Redevelopment Project Area (Project Area) administered by the Atascadero Community Redevelopment Agency (Agency); and, WHEREAS, the City has reached settlement in the matter of Creekside v. City of Atascadero wherein the City has agreed to purchase certain real property commonly known as Creekside Lanes and appurtenances (Creekside Property), for $1,300,000 from Creekside Parcel Associates, a California General Partnership, James M. Harrison and Kenneth B. Fryer (Owner); and WHEREAS, City general fund and reserves are limited, and subject to uncontrollable reductions as a result of diminished sales tax and Transient Occupancy Tax (TOT) revenue, in addition to actions by the State of California (State) that take City funds for State purposes; and WHEREAS, the Creekside Property and related appurtenances are located in the Project Area, and scheduled to cease operation and closure in the near future; and WHEREAS, the Creekside Property has degraded in maintenance and repair to the point that its condition is adding to the overall blighted state of the Project Area; and WHEREAS, pursuant to the Health and Safety Code Section 33445, the Agency may, with the consent of the City Council, pay all or part of the costs of the Public Improvements if the City Council makes certain findings; and WHEREAS, the Agency has duly considered the impact of purchasing Creekside Property to the Project Area, and believe that using Agency funds for this purpose will be of benefit to the Project Area, that no other funds are reasonably available to purchase the Creekside Property, and that the purchase will assist in the elimination of blighted conditions within the Project Area; and WHEREAS, City Staff has determined that the City's approval of the Agency's financing of the Public Improvements is exempt from the requirements of the California Environmental Quality Act (CEQA) pursuant to State CESQ Guidelines Section 153786, because such approval constitutes the creation of a funding mechanism or other fiscal action; and WHEREAS, in accordance with Health and Safety Code Section 33679 on September 28, 2004 the City Council conducted a duly noticed public hearing; and 15 WHEREAS, notice of such public hearing was published in the and 2004; and on WHEREAS, no later than the time of the first publication of the notice of the public hearing, the Agency made available for public inspection a Summary Report ("33679 Report") setting forth the information required by Health and Safety Code Section 33679. NOW, THEREFORE, BE IT RESOLVED by the Atascadero Community Redevelopment Agency of the City of Atascadero as follows: Section 1. The City Council hereby consents to the Agency's financing of the Public Improvements, and finds in accordance with Health and Safety Code Sections 33445 and 33679, Summary Report, the staff report accompanying this resolution, the oral presentation of staff and such other written and oral evidence as presented to City Council, the following: (i) The Agency's financing of the Public Improvements is of benefit to the Project Area because such payment will facilitate and permit operation of the Public Improvements, thereby improving the municipal facilities in the City, increasing the economic and cultural vitality of the Project Area, eliminating physical blight in the Project Area and contributing to the long term economic development and success of the Project Area; (ii) There is no other reasonable means of financing the Public Improvements because the City has not available General Fund revenues to finance the costs of the Public Improvements; (iii) The Agency's financing of the Public Improvements will assist in the elimination of physical and economic blight conditions by encouraging new development and providing employment opportunities in the Project Area; (iv) The Agency's financing of the Public Improvements is consistent with the Five Year Implementation Plan adopted for the Redevelopment Plan pursuant to Health and Safety Code Section 33490. Section 2. The City Manager is hereby authorized to act as agent to conduct all negotiations, execute and submit all documents including, but not limited to agreements, escrow instructions, payment requests and so on, which may be necessary or appropriate in administering the actions authorized by this Resolution. Section 3. City Staff is hereby directed to file a Notice of Exemption with the San Luis Obispo County Clerks' Office within three (3) business days following adoption of this Resolution. Section 4. This Resolution will take effect upon adoption. [SIGNATURES ON NEXT PAGE] 10 PASSED AND ADOPTED at a regular meeting of the City Council of the City of Atascadero, California, held on this day of —2004. CITY OF ATASCADERO Dr. George Luna, Mayor ATTEST: Marcia McClure Torgerson, C.M.C., City Clerk APPROVED AS TO FORM: Thomas R. Gibson, Interim City Attorney 17