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]
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A
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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
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4
5 6
7
8
9
10
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12 13
14
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18
19 20
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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
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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
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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]
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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