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HomeMy WebLinkAboutAG RPTS 2006 1206 RDA REGESTABLISHED * MARM I$. Iar '�L1FOR��� QF Resolution No. 2006 -171 rr of v�0 MOORPARK REDEVELOPMENT AGENCY REGULAR MEETING AGENDA WEDNESDAY, DECEMBER 6, 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 Amending the Fiscal Year 2006/07 Budget for the Required Agency Contribution for Costs of Issuance of the 2006 Tax Allocation Bonds. Staff Recommendation: 1) Recess Agency meeting and reconvene concurrently with City Council public hearing Item 8.A; and 2) If City Council approves the Resolution relative to the public hearing, then staff recommends the Agency Board approve Resolution No. 2006- , amending the Fiscal Year 2006/07 budget for the required Agency contribution. ROLL CALL VOTE REQUIRED (Staff: Hugh Riley) 5. CONSENT CALENDAR: (ROLL CALL VOTE REQUIRED) A. Consider Approval of Minutes of Special Meeting of November 1 2006. Staff Recommendation: Approve the minutes. B. Consider Approval of Minutes of Regular Meeting of November 1 2006. Staff Recommendation: Approve the minutes. C. Consider Approval of Minutes of Special Meeting of November 15 2006. Staff Recommendation: Approve the minutes. Redevelopment Agency Agenda December 6, 2006 Page 2 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) 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: mFiy memoer or ine pumnc may address 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 Division 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, December 6, 2006, at 7:00 p.m. in the Council Chambers of the Moorpark Community Center, 799 Moorpark Avenue, Moorpark, California, was posted on December 1, 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 December 1, 2006. Maureen Benson Deputy City Clerk ITEM 14. A. CITY OF, MOORPARK, CALIFORNIA Redeueka pment A.gency Meeting of 06 ACTloN° .�?GLO�tic.d MOORPARK REDEVELOPMENT AGENCY— AGENDA REPORT' TO: Honorable Chair and Board Members FROM: Hugh R. Riley, Assistant Executive Di recto DATE: November 20, 2006 (MRA Meeting of 12/6/06) SUBJECT: Consider Resolution Amending the Fiscal Year 2006/07 Budget for the Required Agency Contribution for Costs of Issuance of the 2006 Tax Allocation Bonds BACKGROUND The City Council and Redevelopment Agency approved the issuance and sale of the Agency's 2006 Tax Allocation Bonds (the "2006 Bonds ") on November 15, 2006. Agency members will recall that the net proceeds of the 2006 Bonds were anticipated to be expended on various public improvements, consistent with the current 2005 -2009 five year Implementation Plan as approved by the Agency. DISCUSSION When the Agency issued bonds in 2001 it was expected that the proceeds of those bonds would be used to fund the construction of the Human Services Center. However, due to the fact that the expected lessees of the project (Catholic Charities, First 5, and other non- profit groups) are non - governmental, the Internal Revenue Code provisions applicable to the 2001 Bonds state that these 501(c)(3) organizations are not allowed to benefit from the tax - exemption of the 2001 Bonds. In order to comply with the Internal Revenue Code rulings, it is now proposed that the net proceeds of the 2006 Bonds be expended primarily to finance acquisition and construction of the Human Services Center and redevelopment fund monies, including the remaining portion of the net proceeds from the 2001 bonds, will be used for the public improvements outlined in the implementation plan. The City Council is holding a Public Hearing tonight relative to qualifying the 2006 bonds as 501(c)(3) tax exempt obligations. If the City Council approves this qualification, the Agency will be required to contribute a portion of the issuance amount from funds on hand. This is a separate requirement of the Internal Revenue Code related to 501(C)(3) bonds which limits the expenditure of net bond proceeds on related costs of issuance to 2% of the total bond issuance amount. For the 2006 Bond Issue the par amount of bonds is $11,470,000. 0000 ° 1 Honorable Agency Board December 6, 2006 Page 2 At 2% of this amount, the agency is allowed to use $229,400 of bond proceeds on issuance costs. Estimated issuance cost for these bonds is $315,073.57, requiring the Agency to contribute $86,000. Though this contribution will come from the Agency's tax increment initially, it will result in an increase in the net bond proceeds to the Agency (as a result of decreasing the costs of issuance paid from bond proceeds) therefore the required contribution will not affect the overall funding resources of the Agency (see Attachment 2). In order to fund this contribution the Agency's fiscal year 2006/07 budget needs to be amended. Because this item is dependent upon the City Council action taken during the Public Hearing, staff asks that this item be considered concurrently with the City Council public hearing item. STAFF RECOMMENDATION (ROLL CALL VOTE) Recess Agency meeting and reconvene concurrently with City Council public hearing; and 2. If City Council approves the Resolution relative to the public hearing, then staff recommends that the Agency Board approve Resolution No.2006- , amending the fiscal year 2006/07 budget for the required Agency contribution. ATTACHMENTS: Attachment 1 — Resolution No. 2006 - Attachment 2 — Sources and Uses of Funds Comparison — With Contribution vs. Without ATTACHMENT 1 RESOLUTION NO. 2006 - A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR 2006/2007 BUDGET BY APPROPRIATING $86,000 FROM THE MRA AREA I - OPERATIONS (2902) FUND FOR AGENCY'S EQUITY CONTRIBUTION TO 2006 TAX ALLOCATION BONDS WHEREAS, on June 21, 2006, the Moorpark Redevelopment Agency Board of Directors adopted the Moorpark Redevelopment Agency budget for Fiscal Year 2006/2007; and WHEREAS, the Redevelopment Agency of the City of Moorpark will be issuing its 2006 Tax Allocation Bonds as qualified 501(c)(3) tax exempt obligations; and WHEREAS, the Internal Revenue Code caps the amount of bond proceeds that can be used on the costs of issuance of qualified 501(c)(3) bonds at 2 %; and WHEREAS, in order to comply with the Internal Revenue Code and still issue the bonds the Agency must contribute $86,000 to the costs of issuance of the bonds from funds other then bond proceeds; and WHEREAS, the Agency must amend the budget for this required contribution. NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. A budget amendment in the total amount of $86,000 from the MRA Area I - Operations Fund, as more particularly described in Exhibit "A ", attached hereto, is hereby approved. 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 6th day of December, 2006. Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt, Agency Secretary Attachment: Exhibit "A" — Budget Amendment Detail EXHIBIT A BUDGET AMENDMENT FOR MRA AREA 1 -OPERATIONS FY 2006 -07 FUND ALLOCATION FROM: Fund Account Number Amount MRA Area 1 - Operations 2902 -5500 $ 86,000.00 Total $ 86,000.00 DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS: Account Number 2902.2410. 0000.9103 Current Budget $ 36,500.00 Revision $ 86,000.00 Amended Budget $ 122,500.00 Total $ 36,500.00 $ 86,000.00 $ 122,500.00 Approved as to Form: ATTACHMENT 2 SOURCES AND USES OF FUNDS COMPARISON Bond Proceeds with Contribution Vs without Contribution — TY OF MOORPARK, CALIFORNIA rrEM Rede— lopment Aa¢ncy Meeting ACTION � _ _ w._ MINUTES OF THE REDEVELOPMENT AGENCY NArk;-Ca1i#oria. - - -. November 1, 2006 A Special Meeting of the Redevelopment Agency of the City of Moorpark was held on November 1, 2006, in the Community Center of said City located at 799 Moorpark Avenue, Moorpark, California. CALL TO ORDER: Chair Hunter called the meeting to order at 6:47 p.m. 2. ROLL CALL: Present: Agency Members Harper, Mikos, Millhouse, Parvin, and Chair Hunter. Staff Present: Steven Kueny, Executive Director; Joseph Montes, General Counsel; Hugh Riley, Assistant Executive Director; Barry Hogan, Community Development Director; David Moe, Redevelopment Manager; and Deborah Traffenstedt, Agency Secretary. 3. PUBLIC COMMENT: None. 4. CLOSED SESSION: Mr. Kueny requested the Agency adjourn to closed session for discussion of Item 4.C. on the agenda. MOTION: Agency Member Parvin moved and Agency Member Millhouse seconded a motion to adjourn to closed session for discussion of Item 4.C. on the agenda. The motion carried by unanimous voice vote. The time was 6:47 p.m. C. CONFERENCE WITH REAL PROPERTY NEGOTIATOR (Pursuant to Government Code Section 54956.8) Property: Lots 69 through 82, inclusive, of Colonia Virginia Tract Re- Subdivision, in the City of Moorpark, County of Ventura, State of California, as per Map recorded in Book 20, Page 33 of Maps in the Office of the Ventura County Recorder (APN 513 -0- 024 -105 and APN 513 -0- 024 -135) Agency Negotiator: Moorpark Redevelopment Agency — Steven Kueny, Executive Director Negotiating Parties: Stuart Cooper and Robert Moore Under Negotiation: Price and terms of payment Minutes of the Redevelopment Agency Moorpark, California Page 2 November 1 2006 Present in closed session were Agency Members Harper, Mikos, Millhouse, Parvin and Chair Hunter; Steven Kueny, Executive Director; Joseph Montes, General Counsel; Hugh Riley, Assistant Executive Director; Barry Hogan, Community Development Director; David Moe, Redevelopment Manager; and Deborah Traffenstedt, Agency Secretary. The Agency reconvened into open session at 6:58 p.m. Mr. Kueny announced that Item 4.C. was discussed and that there was no action to report. 5. ADJOURNMENT: Chair Hunter adjourned the meeting at 6:58 p.m. Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt Agency Secretary 4 * 1? :➢'() 11-9 F nrtOORPAi �...a��: Aevelopmenr Aaarpcy Heating ITEM -T' b. a- "' -_____ MIN�,ITES OF THE REDEVELOPMENT AGENCY - Mo©rpar -k, Cafifori4ia -- -- November 1, 2006 A Regular Meeting of the Redevelopment Agency of the City of Moorpark was held on November 1, 2006, in the Community Center of said City located at 799 Moorpark Avenue, Moorpark, California. 1. CALL TO ORDER: Chair Hunter called the meeting to order at 7:21 p.m. 2. ROLL CALL: Present: Agency Members Harper, Mikos, Millhouse, Parvin, and Chair Hunter. Staff Present: Steven Kueny, Executive Director; Joseph Montes, General Counsel; Hugh Riley, Assistant Executive Director; David Moe, Redevelopment Manager; and Deborah Traffenstedt, Agency Secretary. 3. PUBLIC COMMENT: None. 4. PRESENTATION /ACTION /DISCUSSION: A. Consider Authorizing Purchase of New Sound System for the High Street Arts Center and Resolution Amending the Fiscal Year 2006/07 Budget. Staff Recommendation: Authorize purchase of a sound system for the High Street Arts Center for $60,000 and adopt Resolution No. 2006 -166 Mr. Moe gave the staff report. Rena Petrello a Moorpark resident and a performer in the "Barnum" production at the High Street Arts Center discussed the problems with the existing sound system. MOTION: Agency Member Millhouse moved and Agency Member Mikos seconded a motion to adopt Resolution No. 2006 -166, authorizing the purchase of a sound system for the High Street Arts Center for $60,000. The motion carried by unanimous roll call vote. Minutes of the Redevelopment Agency Moorpark, California Page 2 November 1 2006 5. CONSENT CALENDAR: (ROLL CALL VOTE REQUIRED) MOTION: Agency Member Mikos moved and Agency Member Parvin seconded a motion to approve the Consent Calendar. The motion carried by unanimous roll call vote. A. Consider Approval of Minutes of Special Meeting of September 20 2006. Staff Recommendation: Approve the minutes. B. Consider Approval of Minutes of Regular Meeting of September 20 2006. Staff Recommendation: Approve the minutes. C. Consider Approval of Minutes of Special Meeting of October 4 2006. Staff Recommendation: Approve the minutes. D. Consider Resolution Amending the Fiscal Year 2006/07 Budget for the Agency's Share of Implementing Code Compliance Software and Support Services for the City of Moorpark. Staff Recommendation: Adopt Resolution No. 2006 -167. ROLL CALL VOTE REQUIRED 6. CLOSED SESSION: None was held. 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 unanimous voice vote. The time was 7:30 p.m. Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt Agency Secretary ITEM 5. G. ACTION - - - -MI- UTES OF THE REDEVELOPMENT AGENCY Moorpark, California- November 15, 2006 A Special Meeting of the Redevelopment Agency of the City of Moorpark was held on November 15, 2006, in the Community Center of said City located at 799 Moorpark Avenue, Moorpark, California. 1. CALL TO ORDER: Chair Hunter called the meeting to order at 7:23 p.m. 2. ROLL CALL: Present: Agency Members Harper, Mikos, Parvin, and Chair Hunter. Absent: Agency Member Millhouse. Staff Present: Steven Kueny, Executive Director; Joseph Montes, General Counsel; Hugh Riley, Assistant Executive Director; David Moe, Redevelopment Manager; and Deborah Traffenstedt, Agency Secretary. 3. PUBLIC COMMENT: None. 4. PRESENTATION /ACTION /DISCUSSION: A. Consider Resolution Amendinq the Fiscal Year 2006/07 Budaet for Acquisition of APNs 513 -0- 024 -105 and 513 -0- 024 -135 and Accer)t the Grant Deed for Recordation. Staff Recommendation: 1) Adopt Resolution No. 2006 -168, amending the FY 2006/07 Budget by $578,000.00; 2) Authorize the Executive Director to execute all documents necessary to this transaction; and 3) Authorize the Agency Secretary to accept and consent to the recordation of any deed. ROLL CALL VOTE REQUIRED Mr. Moe gave the staff report. In response to Chair Hunter, Ms. Traffenstedt stated there were no speakers. MOTION: Agency Member Parvin moved and Agency Member Harper seconded a motion to: 1) Adopt Resolution No. 2006 -168, amending the FY 2006/07 Budget by $578,000.00; and 2) Authorize the Executive Director to execute all documents necessary to this transaction; and 3) Authorize the Agency Secretary #b1a.. ?( >'" 2 Minutes of the Redevelopment Agency Moorpark, California Page 2 November 15 2006 to accept and consent to the recordation of any deed. The motion carried by roll call vote 4 -0, Agency Member Millhouse absent. B. Consider Property Acquisition Agreement and Escrow Instructions; Resolution Authorizing Purchase of 450 East High Street; and Accepting the Grant Deed for Recordation. Staff Recommendation: 1) Adopt Resolution No. 2006 -169; 2) Approve Property Acquisition Agreement, subject to final language approval of Executive Director and Agency Counsel, and authorize Agency Chair to execute; 3) Authorize Executive Director to execute all documents necessary to this transaction; and 4) Authorize the Agency Secretary to accept and consent to the recordation of any deed. ROLL CALL VOTE REQUIRED Mr. Moe gave the staff report. In response to Chair Hunter, Ms. Traffenstedt stated there were no speakers. MOTION: Agency Member Harper moved and Agency Member Mikos seconded a motion to: 1) Adopt Resolution No. 2006 -169; 2) Approve Property Acquisition Agreement, subject to final language approval of Executive Director and Agency Counsel, and authorize Agency Chair to execute; 3) Authorize Executive Director to execute all documents necessary to this transaction; and 4) Authorize the Agency Secretary to accept and consent to the recordation of any deed. The motion carried by roll call vote 4 -0, Agency Member Millhouse absent. 5. CLOSED SESSION: None was held. 7. ADJOURNMENT: Chair Hunter adjourned the meeting. The time was 7:25 p.m. Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt Agency Secretary