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HomeMy WebLinkAboutAG RPTS 1996 0619 RDA REG I �,APMt ( ESTABLISHED Resolution No. 96-43 } YMON 1f„1NT MOORPARK REDEVELOPMENT AGENCY '��/FOR0V. 0 REGULAR MEETING AGENDA CM' OF M�� WEDNESDAY, JUNE 19, 1996 7: 00 P.M. Moorpark Community Center 799 Moorpark Avenue 1. CALL TO ORDER: 2. ROLL CALL: 3. PUBLIC COMMENT: 4. CONSENT CALENDAR: A. Consider Partial Certificate of Completion Covering the Market Building and All Sitework for Parcels 1, 2, 3, 4, 5, 6, and 7 of Parcel Map 4961 for Mission Bell Plaza. Staff Recommendation: Authorize the Executive Director to execute the Certificate of Completion. 5. PRESENTATIONS/ACTION/DISCUSSION: A. Consider Funding of Moorpark Library Parking Lot , Expansion. Staff Recommendation: Authorize the amendment of the existing Pass Through Agreement between the County of Ventura and the Moorpark Redevelopment Agency for advancing funds to expand the Moorpark Library parking lot in an amount not to exceed $65,000, plus a $6,500 contingency for a total of $71,500; advance to be repaid from the Library District Tax Increment without interest and to be used only for the direct cost of construction; further, that the Chairman be authorized to sign the amendment to the Pass Through Agreement subject to final language approval by Agency Counsel and the Executive Director. (ROLL CALL VOTE REQUIRED) . B. Consider Resolution No. 96- For Adoption of Fiscal Year 1996/1997 Budget. Staff Recommendation: Adopt Resolution No. 96- . 000001, . A - Moorpark Redevelopment Agency Agenda June 19 , 1996 Page 2 6. ADJOURNMENT: Any member of the public may address the Agency during the Public Comments portion of the Agenda, unless it is a Public Hearing or Presentations/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 Secretary for Public Comment prior to the beginning of the Public Comments portion of the meeting and for Presentations/Action/Discussion items prior to the beginning of the first item of the Presentations/ 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 Presentations/Action/Discussion item speaker. Copies of each item of business on the agenda are on file in the office of the Secretary and are available for public review. Any questions concerning any agenda item may be directed to the Secretary/529-6864. 000002 CITY OF MOORPARK ) COUNTY OF VENTURA ) ss STATE OF CALIFORNIA ) I, Dorothy J. Vandaveer, duly appointed Deputy City Clerk of the City of Moorpark, County of Ventura, State of California, do hereby certify under penalty of perjury, that I posted on June 14, 1996 a copy of the agenda for the Regular City Council meeting to be held on June 19, 1996 at the following location: Moorpark Community Center 799 Moorpark Avenue Moorpark, California 93021 Said agenda shall remain in place until after the meeting so that it is available for public review for at least 72 hours prior to the meeting, pursuant to Section 54954 et. seq. of the California Government Code. • Dorothy J. a daveer Deputy Ci y lerk i/ Dated: December 30, 1996 ITL... X/a 146 MOORPARK REDEVELOPMENT AGENCY AGENDA REPORT TO: Chairman and Members of the Moorpark Redevelopment Agency FROM: Steven Hayes, Redevelopment Manage DATE: May 31, 1996 (Mtg 06/19/96) SUBJECT: Partial Certificate of Completion for Mission Hell Plaza Phase II In accordance with the Disposition and Development Agreement for the Mission Bell Plaza Phase II Project (Section III N. (318], the Agency is to furnish the developer a Certificate of Completion for specific construction when completed or for the total project. Mission Bell Partners, a California Partnership, the developer of Mission Bell Phase II is requesting a Partial Certificate of Completion covering the market building and all sitework for Parcels 1, 2, 3, 4, 5, 6, and 7 of Parcel Map 4961. The work was completed on January 31, 1996. It is appropriate that the attached Certificate of Completion be issued. Staff recommends that the Moorpark Redevelopment Agency authorize the Executive Director to execute the attached Certificate of Completion. Ir ,. C: \M \MBPII \SGHMBPII.008- 05/31/96 -June 12, 1996 CAUFORNA , s MOORPARK. mom REDEvELOPMEKT ITIEV ._5•A • AG 14111. TtoN.4,4a4"1-‘ oRPARK REDEVELOPMENT AGENCY AGENDA REPORT BY TO: Chairman and Members of the Moorpark Redevelopment Agency FROM: Steven Hayes, Redevelopment Manager , DATE: June 13, 1996 (Mtg. 06/19/96) SUBJECT: Consider Funding of Moorpark Library Parking Lot Expansion BACKGROUND The City of Moorpark has been working towards formulating a method of helping the County of Ventura expand the Moorpark Library Parking lot costing approximately $65, 000 plus a $6,500 contingency. On April 11, 1996, the City Manager drafted a letter to the County's Chief Administrative Officer, outlining a possible financing utilizing Moorpark Redevelopment Agency tax increment revenues. DISCUSSION The City Manager proposed fronting the cost with redevelopment funds which would be repaid by the County's portion of redevelopment tax increment. The County's response dated May 7, 1996, agreed to the concept but specified that the repayment be made from that portion of the tax increment attributable to the Library District. Using the County's estimates included in their letter, rather than receiving the entircA amount owed in fiscal year 2005/2006, the Redevelopment Agency would receive approximately 4.20 percent which is the Library District's portion of the County's tax increment through fiscal year 2011/2012 before retiring the debt. If the Agency were to deposit this money in a simple interest- bearing account at 5 percent, it would earn $40,878 over ten years. Since the City would enter into an agreement for joint use of the facility, it is suggested that the interest portion be the City' s/Agency's share and that this be a no interest loan to the County. This is contingent upon the City only paying the District cost of the project. Attached is a spreadsheet showing the assessed valuation increasing at five percent (5%) from Fiscal Year 1995/1996 to the end of the project. Prior years' show the actual amount of tax increment received. Also shown is the County's Library payment schedule. 011'007 This financing would require an amendment to the existing Pass Through Agreement. RECOMMENDATION (ROLL CALL VOTE REQUIRED) Staff recommends that the Moorpark Redevelopment Agency authorize the amendment of the existing Pass Through Agreement between the County of Ventura and the Moorpark Redevelopment Agency for advancing funds to expand the Moorpark Library parking lot in an amount not to exceed $65,000, plus a $6,500 contingency for a total of $71,500. This advance is to be repaid from the Library District Tax Increment without interest and to be used only for the direct cost of construction. Further, that the Chairman be authorized to sign the amendment to the Pass Through Agreement subject to final language approval by Agency Counsel and the Executive Director. Attachment: City Manager Letter 4/11/96 CAO Letter 5/7/96 Redevelopment Agreement Section 3 5% Growth Estimate (column 5 & 6) C:\WPDOCS\CC.REP\LIBRARY.WPD . • 4,4,0 MOORPARK 1 799 Moorpark Avenue Moorpark, California 93021 (805) 529-6864 April 11, 1996 Mr. Lin Koester Chief Administrative Officer 800 So . Victoria Ave. , L#1940 Ventura, CA 93009-1940 RE: Moorpark Library Parking Lot Expansion Dear Lin: As recently discussed, the Ventura County Public Works Agency has notified the City that the County will not need a lease agreement for the Moorpark Library parking lot expansion. The lot, as planned, was on City property. This action is due to a lack of funding for the parking lot. I suggest that the County and City consider using redevelopment tax increment funds to construct the parking lot . In the Agreement for Distribution of Tax Increment Funds from the Moorpark Redevelopment Project between our two agencies, the County has deferred receiving any pass through until the total County share of the tax increment reaches $1, 750, 000. At the present time, this is estimated to be in FY 2005/2006. I suggest that the Moorpark Redevelopment Agency fund the parking lot expansion construction and related costs and that reimbursement to the County be deferred by adding the parking lot expansion costs to the payback amount. This would require an amendment to the Agreement for Distribution of Tax Increment Funds from the Moorpark Redevelopment Project. Please consider this suggestion and let me know what you think about it. Sincerely, L• L./ "---e Steven Kueny City Manager SK:db:kkd c:\docs\wpwin\citymgr\library4.10 PAUL W LAWRASON JR. JOHN E. WOZNIAK PATRICK HUNTER BERNARDO M: PEREZ Mayor Mayor Pro Tem Councilmember Councilmember CHIEF ADMINISTRATIVE OFFICE M. L. "Lin" Koester count \FEI t ;tura Chiet Administrative Officer May 7, 1996 +gib,' Steven Kueny, City Manager O/ , ) --J ` City of Moorpark �C'�` Ojf' �f 799 Moorpark Ave. OP ni(� Moorpark, CA 93021 Of7-U<if, 1, SUBJECT: MOORPARK LIBRARY PARKING LOT EXPANSION Dear Steve: . ---IY----- Thank you for your suggestion on financing the parking lot project. In reviewing the concept to modify the Redevelopment Agreement's $1,750,000 tax increment payback schedule to include the $65, 000, it was determined that this method would not allow us to provide the Board of Supervisors with an exact reimbursement amount. It is suggested that the Redevelopment Agreement be modified to allow the City of Moorpark to deduct the $65,000 from payments to the Ventura County Library District. Reimbursement would begin at the time the $1, 750, 000 tax increment is obtained (estimated by the City to be FY 2005/2006) . At that time, as stated in the agreement, the County will receive 55.82% of the tax growth over the $1,750, 000. Of the County's share, 4 . 20% is to be paid to the Library District. As an example, if the total growth above the stated tax increment increases by $250, 000, the County is entitled to $139 ,500 of which $5,861 is designated for the Library. The City would reduce the payment to the County by $5, 861 and apply this amount toward the $65, 000 debt. This schedule would continuo yearly until the debt is retired. Please let me know if you agree with this suggestion and staff will prepare a modification to the redevelopment agreement for approval by your City Council and the Board of Supervisors. Sincere , r M.L. Koester CHIEF ADMINISTRATIVE OFFICER c: Supervisor Judy Mikels Dixie Adeniran Terry Dryer Hall of Administration L#1940 00 800 South Victoria Avenue, Ventura, CA 93009 (805) 654-2680 FAX (805) 654-5106 E. "Project Area" shall mean that area included in Appendix A of the Plan. F. "Public Taxing Entities" shall mean the County Taxing Entities, Moorpark Mosquito Abatement District, Moorpark Unified School District and Ventura County Community College District collectively. G. "Tax Increment" shall mean that portion of the ad valorem property taxes which, pursuant to Section 33670, subdivision (b) , of the Act, is allocable to the Agency. Section 3 . Tax Increment Payment to County Taxing Entities. A. Commencing as of the operative date of this Agreement, as set forth in Section 17 hereof, and continuing during the balance of the term of the Plan, the County shall, concurrently with the remittance of the City's property tax, remit to the Agency all of the Tax Increment collected by the County less reimbursement pursuant to Section 33607 of the Act. B. Each Fiscal Year the Agency shall distribute the Tax Increment that it receives from the County as follows: * (1) Tax Increment from Zero Dollars ($0) to One Million Seven Hundred and Fifty Thousand Dollars ($1,750,000) shall be retained one hundred percent (100%) by the Agency; (2) Tax Increment in excess of $1, 750, 000 shall be paid fifty-five point eighty-two percent (55.82%) to the County on behalf of the County Taxing Entities and the remaining forty-four point eighteen percent (44. 18%) sha)l be retained by the Agency; C. If and only if the Agency, for each year commencing with Fiscal Year 1993-1994 and continuing to and including Fiscal Year 2008-2009, files debt in accordance with Section 33675 of the Act in an amount equal to, or more than, the maximum Tax Increment available to the Agency for that Fiscal ' Year, the County will make a one time payment to the Agency by December 31, 2008 in the amount of One Million Dollars ($1, 000,000) from the Tax Increment disbursed to the County pursuant to Subsection E of this Section. D. As allowed by Section 33401, subdivision (b) , of the Act, the County Taxing Entities have agreed to defer payments to them in the initial years of the Plan in order to accomplish the purposes of the Plan at an earlier time than would otherwise be the case. Consequently, pursuant to said Section 33401, 30218.8 -3- 3011 CI MOORPARK REDEVELOPMENT AGENCY TAX INCREMENT REVENUE PROJECTIONS BASE YEAR VALUATION: $260,645,252 (1) (2) (3) (4) (5) (6) (7) ESTIMATED 5% GROWTH COUNTY OF IN ASSESSED VALUATION COUNTY OF VENTURA COUNTY OF INCREASE IN VENTURA LIBRARY DISTRICT VENTURA INCREASE ASSESSED TAX INCREMENT TAX INCREMENT 55.82% OVER 0.01995724% LIBRARY DISTRICT FISCAL IN ASSESSED VALUATION REVENUE REVENUE LESS .25% $1,750,000 AT OR 4.202752% FUNDS YEAR YEAR VALUATION OVER BASE YR. AT 1% COLLECTION FEES 47.48611811 OF COUNTY CUMULATIVE 0 1988 \ 1989 $260,645,252 $0 $0 (A) $0 $0 $0 $0 1 1989 \ 1990 $295,844,170 $0 $0 (A) $0 $0 $0 $0 2 1990 \ 1991 $325,020,649 $64,375,397 $157,805 (B) $157,411 $0 $0 $0 3 1991 \ 1992 $365,839,369 $105,194,117 $256,431 (B) $255,889 $0 $0 $0 4 1992 \ 1993 $386,703,674 $126,058,422 $1,311,826 (B) $1,283,795 $0 $0 $0 5 1993 \ 1994 $379,419,965 $118,774,713 $1,227,620 (B) $1,204,327 $0 $0 $0 6 1994 \ 1995 $407,080,412 $146,435,160 $1,464,352 (B) $1,564,945 $0 $0 $0 7 1995 \ 1996 $391,055,268 $130,410,016 $1,304,100 (D) $1,300,840 $0 $0 $0 8 1996 \ 1997 $410,608,031 $149,962,779 $1,499,628 $1,495,879 $0 $0 $0 9 1997 \ 1998 $431,138,433 $170,493,181 $1,704,932 $1,700,669 $0 $0 $0 10 1998 \ 1999 $452,695,355 $192,050,103 $1,920,501 $1,915,700 $0 $0 $0 11 1999 \ 2000 $475,330,122 $214,684,870 $2,146,849 $2,141,482 $0 $0 $0 12 2000 \ 2001 $499,096,628 $238,451,376 $2,384,514 $2,378,552 $0 $0 $0 13 2001 \ 2002 $524,051,460 $263,406,208 $2,634,062 $2,627,477 $0 $0 $0 14 2002 \ 2003 $550,254,033 $289,608,781 $2,896,088 $2,888,848 $0 $0 $0 15 2003 \ 2004 $577,766,735 $317,121,483 $3,171,215 $3,163,287 $0 $0 $0 16 2004 \ 2005 $606,655,071 $346,009,819 $3,460,098 $3,451,448 $0 $0 $0 17 2005 \`2006 __$63 ,987 825 $376,342,573 53,763,426 _ $3,754,017 118,218 $766 $766 18 _ 2006 \ 2007 $668,837,216 $408,191,964 $4,081,920 $4,071,715 $102,429 $4,305 $5,071 19 2007 \ 2008 $702,279,077 $441,633,825 $4,416,338 $4,405,297 $190,851 $8,021 $13,092 20 2008 \ 2009 $737,393,031 $476,747,779 $4,767,478 $4,755,559 $283,694 $11,923 $25,014 21 2009 \ 2010 $774,262,682 $513,617,430 $5,136,174 $5,123,334 $381,179 $16,020 $41,034 (A) BASE YEAR ESTABLISHED BEFORE PLAN ADOPTION AND YEAR OF PLAN ADOPTION (C) CURRENT FY TAX INCREMENT REVENUE FUNDS RECEIVED TO DATE (B) ACTUAL TAX INCREMENT REVENUES RECEIVED FROM COUNTY OF VENTURA (D) PROJECTIONS BASED ON COUNTY PROJECTED ASSESSED VALUATION Cl %t-1 8 (1) (2) (3) (4) (5) (6) (7) ESTIMATED 5% GROWTH COUNTY OF IN ASSESSED VALUATION COUNTY OF VENTURA COUNTY OF INCREASE IN VENTURA LIBRARY DISTRICT VENTURA INCREASE ASSESSED TAX INCREMENT TAX INCREMENT 55.82% OVER 0.01995724% LIBRARY DISTRICT FISCAL IN ASSESSED VALUATION REVENUE REVENUE LESS .25% $1,750,000 AT OR 4.202752% FUNDS YEAR YEAR VALUATION OVER BASE YR. AT 1% COLLECTION FEES 47.48611811 OF COUNTY CUMULATIVE 22 2010 \ 2011 $812,975,816 $552,330,564 $5,523,306 $5,509,497 $483,539 $20,322 $61,356 23 2011 \ 2012 $853,624,607 $592,979,355 $5,929,794 $5,914,969 $591,016 $24,839 $86,195 24 2012 \ 2013 $896,305,838 $635,660,586 $6,356,606 $6,340,714 $703,867 $29,582 $115,777 25 2013 \ 2014 $941,121,129 $680,475,877 $6,804,759 $6,787,747 $822,361 $34,562 $150,339 26 2014 \ 2015 $988,177,186 $727,531,934 $7,275,319 $7,257,131 $946,780 $39,791 $190,130 27 2015 \ 2016 $1,037,586,045 $776,940,793 $7,769,408 $7,749,984 $1,077,419 $45,281 $235,411 28 2016 \ 2017 $1,089,465,347 $828,820,095 $8,288,201 $8,267,480 $1,214,590 $51,046 $286,457 29 2017 \ 2018 $1,143,938,615 $883,293,363 $8,832,934 $8,810,851 $1,358,620 $57,099 $343,557 30 2018 \ 2019 $1,201,135,546 $940,490,294 $9,404,903 $9,381,391 $1,509,852 $63,455 $407,012 31 2019 \ 2020 $1,261,192,323 $1,000,547,071 $10,005,471 $9,980,457 $1,668,645 $70,129 $477,141 32 2020 \ 2021 $1,324,251,939 $1,063,606,687 $10,636,067 $10,609,477 $1,835,378 $77,136 $554,277 33 2021 \ 2022 $1,390,464,536 $1,129,819,284 $11,298,193 $11,269,947 $2,010,447 $84,494 $638,772 34 2022 \ 2023 $1,459,987,763 $1,199,342,511 $11,993,425 $11,963,442 $2,194,270 $92,220 $730,991 35 2023 \ 2024 $1,532,987,151 $1,272,341,899 $12,723,419 $12,691,610 $2,387,284 $100,332 $831,323 36 2024 \ 2025 $1,609,636,508 $1,348,991,256 $13,489,913 $13,456,188 $2,589,948 $108,849 $940,172 37 2025 \ 2026 $1,690,118,334 $1,429,473,082 $14,294,731 $14,258,994 $2,802,746 $117,792 $1,057,964 38 2026 \ 2027 $1,774,624,250 $1,513,978,998 $15,139,790 $15,101,941 $3,026,184 $127,183 $1,185,147 39 2027 \ 2028 $1,863,355,463 $1,602,710,211 $16,027,102 $15,987,034 $3,260,793 $137,043 $1,322,190 40 2028 \ 2029 $1,956,523,236 $1,695,877,984 $16,958,780 $16,916,383 $3,507,134 $147,396 $1,469,587 PFK /�tia ,s / IOORPARK v 799 Moorpark Avenue Moorpark, California 93021 (805) 529-6864 June 20, 1996 Mr. Lin Koester Chief Administrative Officer Ventura County Government Center 800 So. Victoria Ave. , L#1940 Ventura, CA 93009-1940 Re: Proposed Library Parking Lot Dear Lin: The Moorpark Redevelopment Agency (MRA) considered the referenced matter on June 19, 1996. The following action was taken: "The Moorpark Redevelopment Agency authorized the amendment of the existing Pass Through Agreement between the County of Ventura and the Moorpark Redevelopment Agency for advancing funds to expand the Moorpark Library parking lot in an amount not to exceed $65, 000, plus a $6, 500 contingency for a total of $71, 500. This advance is to be repaid from the Library District Tax Increment without interest and to be used only for the direct cost of construction. Further, the Chairman shall be authorized to sign the amendment to the Pass Through Agreement subject to final language approval by Agency Counsel and the Executive Director. " Please request that tie Board of Supervisors consider this matter at its earliest convenience. If the suggested amendment to the Pass Through Agreement is approved, perhaps the parking lot can be completed by the start of school in September. Please let me know if I can be of any further assistance. Sincerely, Steven Kueny City Manager SK: db c:\citymgr\librcao6.20 c4 : LC1$ R/Ed friP` •// C,4' c-1<rl� PAUL W.LAWRASON JR. JOHN EOZNIAK ELOISE BROWN PATRICK HUNTER BERNARDO M. PEREZ Mayor Mayor Pro Tern Councilmember Councilmember Councilmember ITEM AGENDA REPORT MOORPARK REDEVELOPMENT AGENCY TO: Redevelopment Agency Members FROM: Donald P. Reynolds Jr., Administrative Services Manager DATE: June 17, 1996 (Agency Meeting of June 19, 1996) SUBJECT: Consider Resolution 96- establishing the Moorpark Redevelopment Agency's Annual Budget for the Fiscal Year 1996/1997 (July 1, 1996 through June 30, 1997) BACKGROUND The Executive Director presented the Agency Board with the Proposed Budget for Fiscal Year 1996/1997 ( "Proposed Budget ") on May 29, 1996. As part of the consolidated City Council /Redevelopment Agency review of the Proposed Budget, the opportunity for public input was provided and the Agency discussed the revenue estimates and expenditure plan for the upcoming fiscal year. Consistent with the Agency's Redevelopment Plan, the proposed expenditures further the Agency's goal of eliminating blight in the Redevelopment Area. Blight includes social, economic, and physical blight as defined in the California Community Redevelopment Law. The Proposed Budget includes $1,761,300 in capital improvement projects, including storm drainage installation and street improvement/reconstruction. Additionally, $400,000 is budgeted for housing rehabilitation programs. The Economic Development/Redevelopment Division is requesting the addition of one Associate Planner position to consolidate housing functions into one Department and provide a single contact for housing related information. This position change will be presented for separate consideration by the Agency. Exhibit "A" to the proposed Resolution is a summary of the Agency's Fund Balances, including revenue projections and expenditure estimates for Fiscal Year 1996/1997. Of the $10,658,781 projected year end balance in June 1996/97, $2,753,819 has to be reserved for affordable housing, $850,299 has to be set -aside for future debt service, and $7,054,663 has to be used on capital improvements. RECOMMENDATION (Roll Call Vote Required) That the Redevelopment Agency adopt Resolution 96-, establishing the Moorpark Redevelopment Agency's Annual Budget for Fiscal Year 1996/1997 (July 1, 1996 to June 30, 1997).