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Home My WebLink AboutAG RPTS 2006 0621 RDA REGESTABLISHED * UMCH It 1Mr # 66 4F Resolution No. 2006 -162 MOORPARK REDEVELOPMENT AGENCY REGULAR MEETING AGENDA WEDNESDAY, JUNE 21, 2006 7:00 P.M. Moorpark Community Center 799 Moorpark Avenue 1. CALL TO ORDER: 2. ROLL CALL: 3. PUBLIC COMMENT: 4. PRESENTATION /ACTION /DISCUSSION: A. Consider Resolution Adopting an Operating and Capital Improvements Budget for the City of Moorpark Redevelopment Agency for Fiscal Year 2006/07. Staff Recommendation: Adopt Resolution No. 2006- ROLL CALL VOTE REQUIRED (Staff: Johnny Ea) 5. CONSENT CALENDAR: (ROLL CALL VOTE) 'A. Consider Approval of Minutes of Regular Meeting of May 17 2006. Staff Recommendation: Approve minutes. B. Consider Resolution Adopting Loan Agreement Between the City of Moorpark and the Moorpark Redevelopment Agency. Staff Recommendation: Adopt Resolution No. 2006- ROLL CALL VOTE REQUIRED (Staff: Johnny Ea) 6. CLOSED SESSION: A. CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION Significant exposure to litigation pursuant to Subdivision (b) of Section 54956.9 of the Government Code: (Number of cases to be discussed - 4) Redevelopment Agency Agenda June 21, 2006 Page 2 6. CLOSED SESSION: (continued) B. CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION Initiation of litigation pursuant to Subdivision (c) of Section 54956.9 of the Government Code: (Number of cases to be discussed - 4) 7. ADJOURNMENT: miry 111ernoer or one puoiic may aaaress the Agency during the Public Comments portion of the Agenda, unless it is a Public Hearing or a Presentation /Action /Discussion item. Speakers who wish to address the Agency concerning a Public Hearing or Presentations /Action/ Discussion item must do so during the Public Hearing or Presentations /Action /Discussion portion of the Agenda for that item. Speaker cards must be received by the City Clerk for Public Comments prior to the beginning of the Public Comments portion of the meeting and for Presentation /Action /Discussion items prior to the beginning of the first item of the Presentation /Action /Discussion portion of the Agenda. Speaker Cards for a Public Hearing must be received prior to the beginning of the Public Hearing. A limitation of three minutes shall be imposed upon each Public Comment and Presentation/ Action /Discussion item speaker. A limitation of three to five minutes shall be imposed upon each Public Hearing item speaker. Written Statement Cards may be submitted in lieu of speaking orally for open Public Hearings and Presentation /Action /Discussion items. Copies of each item of business on the agenda are on file in the office of the City Clerk and are available for public review. Any questions concerning any agenda item may be directed to the City Clerk at (805) 517 -6223. In compliance with the Americans with Disabilities Act, if you need special assistance to review an agenda or participate in this meeting, including auxiliary aids or services, please contact the City Clerk's Department at (805) 517 -6223. Upon request, the agenda can be made available in appropriate alternative formats to persons with a disability. Any request for disability- related modification or accommodation should be made at least 48 hours prior to the scheduled meeting to assist the City staff in assuring reasonable arrangements can be made to provide accessibility to the meeting (28 CFR 35.102- 35.104; ADA Title II). STATE OF CALIFORNIA ) COUNTY OF VENTURA ) ss CITY OF MOORPARK ) AFFIDAVIT OF POSTING I, Maureen Benson, declare as follows: That I am the Deputy City Clerk of the City of Moorpark and that a notice for a Regular Meeting of the Moorpark Redevelopment Agency to be held Wednesday, June 21, 2006, at 7:00 p.m. in the Council Chambers of the Moorpark Community Center, 799 Moorpark Avenue, Moorpark, California, was posted on June 16, 2006, at a conspicuous place at the Moorpark Community Center, 799 Moorpark Avenue, Moorpark, California. I declare under penalty of perjury that the foregoing is true and correct. Executed on June 16, 2006. Maureen Benson, Deputy City Clerk MOORPARK REDEVELOPMENT AGENDA REPORT TO: Honorable Board of Directors FROM: Johnny Ea, Finance Director �2 4i 1'I'EM 4.A• CITY OF MOORPARK, CALIFORNIA Redevelopment Agency Meeting of __ ACTIN: AGENCY DATE: June 7, 2006 (MRA Meeting of June 21, 2006) SUBJECT: Consider Resolution Adopting an Operating and Capital Improvements Budget for the City of Moorpark Redevelopment Agency for the Fiscal Year 2006 -2007. DISCUSSION On May 17, 2006 the City Manager /Executive Director presented to the Board of Directors his recommended Operating and Capital Improvements Budget for the Fiscal Year 2006 -2007. The Agency Board of Directors held a public meeting on the budget during a study session on May 31. The Board of Directors had no changes to the recommended Agency Budget. State law requires adoption of a budget prior to June 30, 2006. Staff recommends that the Board of Directors adopt the attached resolution. The final budget document with the referenced changes has been provided to the City Council under separate cover as well as made available to the public on the City's Home Page, at City Hall and the Moorpark Library. STAFF RECOMMENDATION (Roll Call Vote) Adopt Resolution No. 2006- Attachment: Resolution No. 2006- RESOLUTION NO. 2006- A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK, CALIFORNIA, ADOPTING THE OPERATING AND CAPITAL IMPROVEMENT BUDGET FOR THE MOORPARK REDEVELOPMENT AGENCY FOR THE FISCAL YEAR 2006 -2007 WHEREAS, on May 17, 2006 the City Manager /Executive Director's Recommended Budget for Fiscal Year 2006 -2007 was submitted to the City Council and Agency Board of Directors for its review and consideration; and WHEREAS, the Board of Directors has provided the opportunity for public comment at a public meeting held on May 31, 2006, and conducted detailed review of expenditure proposals; and WHEREAS, as the result of the reviews and analysis, expenditure proposals and revenue projections have been modified as needed. NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The Operating and Capital Improvements Budget for Fiscal Year 2006 -2007 (beginning July 1, 2006) for the City of Moorpark Redevelopment Agency containing operating and capital expenditures and anticipated revenues as identified in Exhibit "A" to this resolution, attached hereto and incorporated herein, shall be adopted as the City of Moorpark Redevelopment Agency's Operating and Capital Improvements Budget for Fiscal Year 2006 -2007. SECTION 2. The Executive Director is authorized to amend the capital improvement budget for the 2006 -2007 fiscal year at the conclusion of the 2005- 2006 fiscal year when a final accounting of project costs during the 2005 -2006 year is complete and continuing appropriations are determined, as long as the total project appropriation authorized by the Board of Directors is not exceeded. SECTION 3. The Executive Director is authorized to approve appropriation transfers within departments and within individual funds as required to provide efficient and economical services, as long as the total department appropriation and fund appropriation authorized by the Board of Directors is not exceeded. Resolution No. 2006 - Page 2 SECTION 4. Except as otherwise provided in this resolution, amendments to appropriations in the Fiscal Year 2006 -2007 Operating and Capital Improvements Budget shall require Board action by resolution. SECTION 5. The Executive Director is authorized to make such emergency appropriations as may be necessary to address emergency needs of the Agency, provided that the appropriation is presented to the Board of Directors at its next regular meeting for ratification. SECTION 6. Administrative and planning expenditures, including direct salaries, indirect overhead charges, and other similar costs, are necessary for the production, improvement, and preservation of low- and moderate - income housing. SECTION 7. The Agency Secretary shall certify to the adoption of this resolution and shall cause a certified resolution to be filed in the book of original Resolutions. PASSED AND ADOPTED this 21 st day of June, 2006. Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt, Agency Secretary Attachment: Exhibit "A" OC 0()-.3 Resolution No. 2006 - Page 3 Exhibit A Operating and Capital Improvements Budget For the Moorpark Redevelopment Agency Fiscal Year 2006 -2007 Provided Separately 0 Off, 0 C' CITY OF MOORPARK. CALIFORNIA �*� /� Redevelopment Agency Meeting UEM -5- A . ACTION: (� Q. e.y nnlnu ITES OF THE REDEVELOPMENT AGENCY May 17, 2006 A Regular Meeting of the Redevelopment Agency of the City of Moorpark was held on May 17, 2006, in the Community Center of said City located at 799 Moorpark Avenue, Moorpark, California. 1. CALL TO ORDER: Vice Chair Mikos called the meeting to order at 7:42 p.m. 2. ROLL CALL: Present: Agency Members Harper, Millhouse, Parvin, and Vice Chair Mikos. Absent: Chair Hunter. Staff Present: Steven Kueny, Executive Director; Hugh Riley, Assistant Executive Director; and Deborah Traffenstedt, Agency Secretary. 3. PUBLIC COMMENT: None. 4. PRESENTATION /ACTION /DISCUSSION: A. Consider Proposed Operating and Capital Improvement Budgets for Fiscal Year 2006/07. Staff Recommendation: Receive the budgets and set a workshop for May 24, 2006. In response to Vice Chair Mikos, Ms. Traffenstedt stated there were no speakers. A discussion followed among the Agency Members and it was determined May 31, 2006, was a more convenient date for the workshop. CONSENSUS: It was the consensus of the Agency to receive the budgets and set a workshop for May 31, 2006. 5. CONSENT CALENDAR: MOTION: Agency Member Millhouse moved and Agency Member Harper seconded a motion to approve the Consent Calendar. ()01 : 0C)5 Minutes of the Redevelopment Agency Moorpark, California Page 2 May 17 2006 Agency Member Parvin requested Item 5.D. be pulled from the Consent Calendar for individual consideration. AMENDED MOTION: Agency Member Millhouse moved to amend the motion and Agency Member Harper seconded the amended motion to approve the Consent Calendar with the exception of Item 5.D, which was pulled for individual consideration. The amended motion carried by roll call vote 4 -0, Chair Hunter absent. A. Consider Approval of Minutes of Regular Meeting of April 5 2006. Staff Recommendation: Approve minutes. B. Consider Approval of Minutes of Special Meeting of April 26 2006. Staff Recommendation: Approve minutes. C. Consider Professional Services Agreement for Proiect Coordination Services for Installation of a Dimmer Rack for the Theater on High Street and Resolution Amending Fiscal Year 2005_/06 Budget for Purchase and Installation. Staff Recommendation: 1) Approve the agreement with Christian West, subject to final language approval of the Executive Director and Agency Counsel; and 2) Adopt Resolution No. 2006 -160. ROLL CALL VOTE REQUIRED The following item was pulled for individual consideration. D. Consider Resolution Amending Fiscal Year 2005/06 Redevelopment Budget for Design /Engineering Services for Landscaping of Remnant Parcel at the Corner of Flinn Avenue and Spring Road. Staff Recommendation: Adopt Resolution No. 2006 -161. ROLL CALL VOTE REQUIRED Mr. Riley gave the staff report. In response to Agency Member Parvin, Mr. Riley stated "art in public places" is still a part of the plan for this remnant parcel. MOTION: Agency Member Parvin moved and Agency Member Harper seconded a motion to adopt Resolution No. 2006 -161, amending the fiscal year 2005/06 budget to allocate funds for design /engineering services for landscaping of the remnant parcel at the corner of Flinn Avenue and Spring Road. The motion carried by roll call vote 4 -0, Chair Hunter absent. 6. CLOSED SESSION: None was held. ()(11;I () C G Minutes of the Redevelopment Agency Moorpark, California Page 3 May 17 2006 7. ADJOURNMENT: MOTION: Agency Member Harper moved and Agency Member Parvin seconded a motion to adjourn the meeting of the Moorpark Redevelopment Agency. The motion carried by voice vote 4 -0, Chair Hunter absent. The time was 7:46 p.m. Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt Agency Secretary WC) ' y ►-r 5• B . CITY OF MOORPARK, CALIFORNIA Redevelopment Agency Meeting O 6��/ -goo ACTION:/ MOORPARK REDEVELOPMENT AGEN AGENDA REPORT ` -- TO: Honorable Board of Directors FROM: Johnny Ea, Finance Director DATE: June 5, 2006 (Agency Meeting of June 21, 2006) SUBJECT: Consider Resolution Adopting Loan Agreement between the City of Moorpark and the Moorpark Redevelopment Agency BACKGROUND Community Development Law allows Redevelopment Agencies to borrow funds from the City in support of the Agency's mission and goals. Several times since the creation of the Moorpark Redevelopment Agency, the City has loaned funds to the Agency for specific purposes. All loans have been repaid, or will be repaid by June 30, 2006. DISCUSSION In the coming year, the Agency has budgeted approximately $10.6 million in expenditures, including $4.3 million for capital improvements. While the Agency's annual revenues and existing fund balances are sufficient to finance these expenditures, it is our practice for all expenditures to be paid by the City, then these "advances" are repaid by the Agency. This is a common practice intended to comply with state laws that require Redevelopment Agencies to incur debt and to assist with Agency cash flow. Staff is recommending a loan from the City to the Agency in the amount of $5,000,000 as an advance for anticipated operating and capital expenditures for the coming year. The Agency would be charged a rate equal to the rate earned on investments (the "LAIF" rate) plus 1%, currently this would be approximately 5.4 %. The loan would be provided by the City General Fund, which currently has sufficient cash available, and would be due no later than June 30, 2007. r ✓lam / Honorable Agency Board of Directors June 21, 2006 Page 2 STAFF RECOMMENDATION (Roll Call Vote) Adopt Resolution No. 2006- , approving a Loan Agreement with the City of Moorpark. Attachment: Resolution No. 2006 - Loan Agreement RESOLUTION 2006- A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK, CALIFORNIA, ADOPTING A LOAN AGREEMENT BETWEEN THE CITY OF MOORPARK AND THE MOORPARK REDEVELOPMENT AGENCY WHEREAS, the City of Moorpark has agreed to advance funds to the Moorpark Redevelopment Agency in accordance with the terms of a Loan Agreement dated July 1, 2006; and WHEREAS, the Moorpark Redevelopment Agency has agreed to accept the terms and conditions of the Loan Agreement dated July 1, 2006. NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The Loan Agreement between the City of Moorpark and the Moorpark Redevelopment Agency dated July 1, 2006, and attached as Exhibit "A" to this resolution, is hereby adopted. SECTION 2. The Agency Secretary shall certify to the adoption of this resolution and shall cause a certified resolution to be filed in the book of original Resolutions. PASSED AND ADOPTED this 21 s' day of June, 2006. Patrick Hunter, Chair ATTEST: Ueborah S. Traffenstedt, Agency Secretary Attachment: Exhibit "A" EXHIBIT "A" LOAN AGREEMENT THIS LOAN AGREEMENT is entered into this 1st day of July, 2006, by and between the City of Moorpark ( "City ") and the Moorpark Redevelopment Agency ( "Agency "). RECITALS WHEREAS, the Agency was created by Ordinance 87, adopted by the City Council on March 18, 1987, for the purpose of eliminating blighted conditions within specified project areas; and WHEREAS, in support of its mission, the Agency is developing and implementing plans to acquire and construct certain public facilities; and WHEREAS, the Agency has determined that, in order to undertake this redevelopment project, temporary financial assistance in the form of a loan is required from the City of Moorpark; and WHEREAS, Section 33600 et. seq. of the California Community Redevelopment Law authorizes the Agency to borrow money or accept financial or other assistance from the City. COVENANTS NOW, THEREFORE, THE CITY AND AGENCY AGREE AS FOLLOWS: SECTION 1. Amount and Use of Loan. The City, from its General Fund, will advance to the Agency the amount of $5,000,000 (five million dollars). Agency agrees to use such loan proceeds only for those purposes set forth in the Health and Safety Code and approved by the Agency. SECTION 2. Repayment of Funds. The Agency will repay this loan, both principal and interest, in full on or before June 30, 2007, unless extended by amendment to this Agreement. SECTION 3. Interest Payment. This loan will bear interest at a rate equivalent to the rate earned by City investments in the Local Agency Investment Fund, plus one percent. SECTION 4. Obligation Constitutes Indebtedness. This loan agreement shall constitute an obligation and debt of the Agency to use all available increment revenue to repay the City. Such indebtedness shall be subordinate to any and all other Agency indebtedness incurred by the Agency, including indebtedness incurred through the issuance of tax allocation notes or bonds or any other bonds of the Agency. Loan Agreement, Page 2 July 1, 2006 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. MOORPARK REDEVELOPMENT AGENCY CITY OF MOORPARK Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt, Agency Secretary Steven Kueny, City Manager Deborah S. Traffenstedt, City Clerk