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HomeMy WebLinkAboutAG RPTS 1998 0715 RDA REG—( Mum= * j wARN 18, first k 0It of ANNOTATED MOORPARK REDEVELOPMENT AGENCY REGULAR MEETING AGENDA WEDNESDAY, JULY 15, 1998 7 :00 P.M. Moorpark Community Center 799 Moorpark Avenue 1. CALL TO ORDER: 8:26 P.M. 2. ROLL CALL: ALL PRESENT 3. PUBLIC COMMENT: 4. PUBLIC HEARINGS: 6. CONSENT CALENDAR: A. Consider Approval of Minutes of the Regular Redevelopment Agency Meeting of May 6. 1998. r Consider Approval of Minutes of the Special Redevelopment (11 ", AaenCy Meeting of June 3, 1998, Staff Recommendation: Approve the minutes as processed. APPROVED B. Consideration of Transfer of Ownership of Mission Bell Plaza II. Staff Recommendation: Approve the transfer of ownership of the Mission Bell Plaza II property to Mission Bell Plaza I I , LLC . ,b APPROVED SUBJECT TO EXECUTIVE DIRECTOR APPROVAL OF ALL DOCUMENTS AND REQUIREMENTS Redevelopment Agency Annotated Agenda July 15, 1998 Page 2 C. Consider Resolution No. 98 -72 Adopting the Moorpark Redevelopment Agency Annual Budget for the Fiscal Year 1998/1999. Staff Recommendation: Adopt Resolution No. 98- ct A % establishing the annual budget for the City of Moorpark Redevelopment Agency for the fiscal year 1998/1999 in the amount of $3,324,897.00 (ROLL CALL VOTE REQUIRED). ADOPTED RESOLUTION NO. 98 -72 D. Approval of Guarantee Agreement with Aliso Construction Related to the Gisler Field Project Staff Recommendation: Approve the Guarantee Agreement from Aliso Construction related to the Gisler Field Development Project. APPROVED 7. CLOSED SESSION: 8. ADJOURNMENT: 8:27 P.M. MOORPARK REDEVELOPMENT AGENDA REPORT Nif- (' a ITEM —4 • B. CITY OF MOORPARK, CALIFORNIA Redevelopment Agency Meeting Of -- I. I S - cI a AG ecCTION: Aga ro y P,i S k 1vi'ec f to , `Yu+ de DCrec¢ -pr ! prow_ j 0 0.11 DiOCurnents w re UlrPment'S AGENID'Y TO: Honorable Agency Board of Directors FROM: John E. Nowak, Assistant Executive Director��� -,\ DATE: 05 July 1998 (Agency meeting of 07- 15 -98) SUBJECT: Consideration of Transfer of Ownership of Mission Bell Plaza 11 Discussion: In 1995 the City of Moorpark Redevelopment Agency approved a Disposition and Development Agreement (DDA) with Mission Bell Partners related to the development of the Mission Bell Plaza II project. Section 105 of the DDA states that any change in ownership of the project requires the written consent of the Redevelopment Agency. That consent shall not be unreasonably withheld, provided that the Agency determines the successor is similarly qualified and has agreed in writing to be bound by the DDA. A copy of Section 105 of the DDA is attached. The current owners propose to sell the property to Mission Bell Plaza 11, LLC which will assume all terms and responsibilities of the initial Agreement and the seven Promissory Notes issued for the project. The owner of the new company has agreed, as part of the transfer, to repay to the Agency Promissory Note 2 in the amount of $146,050. Staff has identified no reason for the Agency Board of Directors not to consent to the ownership transfer. Recommendation: Staff recommends that the City of Moorpark Redevelopment Agency Board of Directors approve the transfer of ownership of the Mission Bell Plaza II property to Mission Bell Plaza 11, LLC. Attachment: Section 105 of DDA Letter of Request 0000 ON DISPOSITION AND DEVELOPMENT AGREEMENT This DISPOSITION AND DEVELOPMENT AGREEMENT (the "Agreement") is entered into by and between the REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK ("Agency's and MISSION BELL PARTNERS, a California partnership ("Developer's and is dated and effective as of April 21, 1995. In consideration of the mutual covenants and agreements contained herein, Agency and Developer hereby agree as follows: [§ 100] SUBJECT OF AGREEMENT A. [§ 101] Purpose of Agreement The purpose of this Agreement is to effectuate the Redevelopment Plan (the "Plan's for the Moorpark Redevelopment Project (the "Project Areal by providing for the disposition and development of certain real property in accordance with the Plan. The real property is located within the Project Area on the north side of Los AngelesAvenue and west of the existing Mission Bell Plaza (the "Site ") and is specifically described in Exhibit No. 1 hereto and depicted on Exhibit No. 2 hereto. This Agreement is intended to be a contract within the meaning of Government Code Section 53511 and is entered into for the purpose of developing the Site and not for the purpose of specula- ting in undeveloped land. Completing the development of the Site pursuant to this Agreement is in the vital and best interest of the City of Moorpark ( "City') and the health, safety, and welfare of its residents and is in accord with the public purposes and provisions of applicable state and local laws. B. [§ 1021 The Redevelopment Plan The Plan was approved and adopted by the City Council of the City on July 5, 1989 by Ordinance No. 110. The Plan and Ordinance No. 110 are incorporated herein by this reference. C. [§ 1031 The Acquisition Parcel The Site consists of 15 gross acres, more or less, which are owned by Agency and which will be acquired by Developer pursuant to the terms of this Agreement (the "Acquisition Parcel'). D. [§ 104] Parties to the Agreement Agency is a public body, corporate and politic, exercising governmental functions and powers and organized and existing under the Community Redevelopment Law of the State of California, Section 33000 et seg, of the Health and Safety Code, (the "Act "). The principal office of Agency is located at, and the mailing address of Agency is, 799 Moorpark Avenue, Moorpark, California 93021. Developer is a California general partnership duly organized and existing under the laws of the State of California. The principal office of Developer is located at 340 Rosewood Avenue, Suite D, Camarillo, California 93010. The mailing address of Developer is P.O. Box 179, Camarillo, California 93011. E. [§ 105] Prohibition Against Change in Ownership of Developer Without Consent The qualifications and identity of Developer are of particular concern to Agency. It is because of its qualifications and identity that Agency has entered into this Agreement with Developer. LM2:121241.12 0U0cw) The qualifications and identity of Developer are of particular concern to Agency. It is because of its qualifications and identity that Agency has entered into this Agreement with Developer. Therefore, no voluntary or involuntary successor in interest to, or assignee of, Developer shall acquire any rights or powers under this Agreement or any interest in the Acquisition Parcel prior to issuance of a Certificate of Completion pursuant to Section 318 hereof for each and every portion thereof, except as expressly set forth herein. Developer shall not assign all or any part of this Agreement or any rights or obligations hereunder, nor shall it transfer title to the Acquisition Parcel or any interest therein, prior to issuance of a Certification of Completion for each and every portion of the Acquisition Parcel, without the prior written consent of Agency. Consent shall not be unreasonably withheld, provided that Agency determines that the successor or assignee is similarly qualified and has specifically agreed in writing to be bound by this Agreement. Notwithstanding the above, the Developer may, without Agency's consent, transfer its rights and obligations in the Acquisition Parcel and assign its rights and obligations in and to this Agreement so long as the transferee is one or more of the following ("Affiliated Parties'): (i) Ventura Pacific Properties I, Inc., provided Neno N. Spondello, Jr. and/or Richard Devericks is /are the majority shareholder(s); or, Ventura Pacific Capital Groups Inc., provided Neno N. Spondello, Jr. and/or Richard Devericks is /are the majority shareholder(s); or, Ventura Pacific Capital Group VI, a California limited partnership, provided Neno N. Spondello, Jr. and/or Richard Devericks is /are the general partner(s); or (iv) A limited liability company in which Neno N. Spondello, Jr., Richard Devericks and /or one of the entities identified in (i), (ii) or (iii) above, individually or collectively, is /are members holding a controlling ownership interest therein; or, (v) A revocable living trust in which Neno N. Spondello, Jr. and /or Richard Devericks is the trustee and current beneficiary thereunder. Furthermore, the partners of Developer may, without Agency's consent, transfer interests between the partners of the Developer without Agency's consent. Furthermore, Developer may, prior to issuance of a Certificate of Completion pursuant to Section 318 hereof for a Separate Parcel as described in Section 205, and without Agency's consent, sell or ground lease a Separate Parcel to Albertson's, Inc., First Interstate Bank, San Carlos Cinemas, Inc. or to any other Major Tenant (defined as an entity which operates at least 25 retail units within Southern California or at least 50 retail units nationally and which retail units have a standard prototypical building design and operate under the same trade name) so long as Albertson's, Inc., San Carlos Cinemas, Inc., First Interstate Bank or other Major Tenant is contractually obligated to Developer to cant' out all of the covenants and obligations of Developer under the Agreement as to the Separate Parcel. Additionally, if a sale or ground lease to an entity that is not a Major Tenant is proposed by the Developer, the Agency shall not unreasonably withhold consent for DeVeloperto consummate such a transaction between the Developer and said entity. All of the terms, covenants and conditions of this Agreement shall be binding upon, and shall inure to the benefit of, Developer and its authorized successors and assigns. Whenever the term Developer" is used herein, such term shall include any authorized successor or assignee of Developer. Notwithstanding anything herein to the contrary, Mission Bell Partners or any Affiliated Party to whom Mission Bell Partner may make a transfer shall be jointly and severally liable with its I.AX2 : 1212 41.12 -2- / authorized successors and assigns to a Separate Parcel for the performance of all of the terms, covenants and conditions contained in or derived from this Agreement as the same pertain to such Parcel until such time as a Certificate of Completion pursuant to Section 318 hereof has been obtained for the parcel; thereafter, Mission Bell Partners and the Affiliated Party to whom it made a transfer shall be entirely freed and relieved of all liability under any and all of the terms, covenants and conditions contained in or derived from this Agreement arising out of any act, occurrence or omission with respect to such parcel. 1. [§ 1061 Intentionally Deleted 2. [§ 107] Intentionally Deleted F. [§ 1081 Evidence of Financing Within one - hundred twenty (120) days after the Effective Date of this Agreement, as set forth in Section 914 hereof, Developer shall deliver written evidence to Agency of the type of construction financing Developer shall use for its obligations pursuant to Section 300 et seq. hereof and a written commitment from a lender qualified to provide such financing. The commitment may be subject to reasonable and customary lender contingencies, and such lender contingencies may include but a not limited to those related to obtaining land use entitlement re s, including building permits, and maintaining certain financial qualifications. [§ 200] DISPOSITION OF THE ACQUISITION PARCEL A. [§ 201] Sale and Purchase In accordance with, and subject to, all of the terms, covenants and conditions of this Agreement, Agency agrees to sell the Acquisition Parcel and Developer agrees to purchase the Acquisition Parcel and to develop the Acquisition Parcel. Developer covenants and agrees that it shall not purchase the Acquisition Parcel for speculation in undeveloped land. B. [§ 202] Purchase Price The purchase price ( "Purchase Price') of the Acquisition Parcel totals Three Million Eight Hundred Thirty -Two Thousand One Hundred Eleven Dollars ($3,832,111.00), payable in legal tender of the United States of America, unless provisions to the contrary are provided herein. Upon the recordation of Parcel Map No. 4961, the Purchase Price shall be prorated by Separate Parcel as set forth in Table I below. 3.AX2:121241.12 -3- TABLE Parcel # A roximate Size S.F. Purchase Price $ 174,800 1` 30,401 2 25,399 146,050 3 205,084 1,178,750 4 30,600 175,950 5 27,043 172,500 6 28,269 154,100 -3- � u� -uo -1770 10-10 rKUI11 LHw Ur' - I Ltb July 8, 1998 Mr. Steven Kueny City Manager 799 Moorpark Avenue Moorpark, California 93021 IN 'Z�0' " Imperial Bank Tower Sherman Oaks, Galleria 15303 Ventura Blvd., Suite goo Sherman Oaks, California 91403 Telephone (818) 990 -1160 Fax (818) 986 -5109 1ae55�ya�'�b P.02 RECEIVED JUL 0 9 1998 CITY CLERK'S OFFICE CITY OF AlO©RPARK Re: Mission Bell Plaza Phase 11, Moorpark, CA Assumption of the 6 notes secured by a Second Deed of Trust irk favor of the Moorpark Redevelopment Agency Dear Mr Kueny: Please be advised that we have recently opened escrow to purchase the shopping center referenced above. The purpose of this letter is to respectfully request consent and approval of the assumption of the following existing 6 notes in favor of the Moorpark Redevelopment Agency: " Parcel No. Original Amount of Note Instrument No. 1 $ 174,800 95- 098479 3. $ 1,153,750 95- 098481 4. $ 175,950 95- 098482 5. $ 172,500 95- 098483 6, $ 154,100 95- 098484 7. $ 1,957,350 95- 098485 I have conditionally agreed to pay in full that certain Promissory Note in the original principal amount of One Hundred Forty Six Thousand Fifty and No/ 100 ($16,050), Instrument No 95- 098480. It is understood that except for the balance of the Note at the time of pay -off, there are no exit fees, prepayment penalties, contingent interest or any other fees in connection to the pay -off of the Note, and upon such pay -off, the City shall submit a request for full reconveyance to the trustee under the Deed of Trust. JUL 08 '98 18:24 GIP Qac ---- JUL -OB -1998 1e:11 FROM LAW OFFICES TO 18055298270 P.03 We appreciate your consideration in this matter and are hopeful to receive a favorable response from the City by July 15, 1998. This will help us in meeting our escrow deadline. If you have any questions, please do not hesitate to call me. Sincerely, GOLDEN HORIZON REALTY, INC. • •� esident albtcity cc Kent Mouton Neno Spondello TOTAL P.03 JUL 08 '98 18:24 Gip gar_ ciao -- MOORPARK REDEVELOPMENT AGENDA REPORT Dog .y ITEM 10 ' COO C:ITV OF MOORPARK, CALIFORNIA Redevelopment Agency Meeting of -7 - 15 -Cl ?:, ACTION: 4400 1-eol P, C-50. No- gg BY: Cal. -- AGENCY TO: Honorable Agency Board of Directors FROM: John E. Nowak, Assistant Executive Director DATE: 30 June 1998 (Agency meeting of 07- 15 -98) SUBJECT: Consider Resolution No. 98- adopting the Moorpark Redevelopment Agency Annual Budget for the Fiscal Year 1998/1999. Discussion: The Annual Operating Budget for the City of Moorpark Redevelopment Agency was reviewed by the Redevelopment Agency Board of Directors in conjunction with the City Council's budget review. The budget as presented for adoption includes expenditures of $3,324,897 to cover related personnel and operating costs; make principal and interest payments on the 1994 $10 million bond issue; make the required tax increment pass through payments; pay interest on the loans from the City's General Fund; provide for ten housing rehab grants; and repay the City $1 million on its prior loans to the Agency. Revenues, totaling $1,937,929, for the Agency comes from tax increment funds, interest and rent payments on Agency property. Rec9mmendation: (ROLL CALL VOTE) That the Redevelopment Agency Board adopt Resolution No. 98- establishing the annual budget for the City of Moorpark Redevelopment Agency for the fiscal year 1998/1999 in the amount of $3,324,897.00. Attachment Resolution No. 98- 000cl - RESOLUTION NO. 98- A RESOLUTION OF THE CITY OF MOORPARK REDEVELOPMENT AGENCY ESTABLISHING THE ANNUAL BUDGET FOR THE FISCAL YEAR 1998 -1999 WHEREAS, by Ordinance No. 87 the City Council of the City of Moorpark activated the Moorpark Redevelopment Agency pursuant to California Community Redevelopment Law; and WHEREAS, a budget for the fiscal year beginning July 1, 1998 was prepared by the Executive Director and the opportunity was provided for public comment and a detailed review of revenue and expenditure proposals; and WHEREAS, as result of the reviews and analysis, expenditure proposals and revenue projections have been prepared to meet the obligations of the City of Moorpark Redevelopment Agency for the fiscal year 1998/99. NOW, THEREFOR, THE CITY OF MOORPARK REDEVELOPMENT AGENCY DOES RESOLVE AS FOLLOWS: Section 1. The Redevelopment Agency Board of Directors hereby determines that the continued operation and maintenance assistance of the Agency's Redevelopment Division is in the furtherance of the goals and objectives of the Redevelopment Plan in the elimination of blight, including social, economic and physical blight as defined in the California Community Development Law. Section 2. The Redevelopment Agency Operating Budget for Fiscal Year 1998- 1999 contains revenues totaling $1,937,929 and operating expenditures totaling $3,324,897, as identified in the City of Moorpark's Operating and Capital Improvements Budget for the Fiscal Year 1998 -1999 document. Section 3. The Executive Director is authorized to approve appropriation transfers within the division and within the individual funds as required and as provided for by law, to provide efficient and economical services as long as the total division appropriation and fund appropriation authorized by the Agency Board is not exceeded. Section 4. Amendments to the total fund appropriations in the FY 1998 -1999 Operating and Capital Improvements Budget shall require Agency Board action by resolution. 00�. Cl5- Resolution No. 98- Page 02 PASSED APPROVED AND ADOPTED this 15"' day of July 1998. Patrick Hunter, Chairman ATTEST: Deborah S. Traffenstedt, Secretary 000C'1G ITE14 • CITY OF NOORPARK, CALIFORNIA Redevelopment Agency Meeting ACTION: ,o 1 ro Vto/ MOORPARK REDEVELOPMENT AGENCY ,' c AGENDA REPORT TO: Honorable Agency Board of Directors FROM: John E. Nowak, Assistant Executive Director DATE: 30 June 1998 (Agency meeting of 07- 15 -98) SUBJECT: Approval of Guarantee Agreement with Aliso Construction Related to the Gisler Field Project Discussion: At its June 15, 1998 meeting the Redevelopment Agency Board of Directors approved a Development and Disposition Agreement (DDA) with Cabrillo Economic Development Corporation (CEDC) for the construction of 59 single family units at the Gisler Field Site, 15 of which will be affordable for low and very-low income households. A concern raised in the negotiations for the DDA was a guarantee that the project would be developed and that the affordable units would remain as such through the year 2032, should CEDC cease to exist. As mentioned in the staff report on June 15, Aliso Construction, a for - profit corporation, has offered to sign a "Guarantee Agreement" to guarantee that should CEDC dissolve or merge with another nonprofit organization that does not assume all of CEDC's obligations, Aliso would perform all outstanding responsibilities and obligations of CEDC through the year 2032. Also, should during construction of the project, CEDC default under the terms of its loan and the deed holder options not to complete the construction, Aliso would perform CEDC's obligations to complete the required construction. The attached Guarantee Agreement has been reviewed and approved by legal counsel. Recommendation: Staff recommends that the Redevelopment Agency Board approve the Guarantee Agreement from Aliso Construction related to the Gisler Field Development Project. Attachment Guarantee Agreement 00u C 1,'7 C3 -,,_�7,f ALISO CONSTRUCTION GUARANTEE AGREEMENT for the GISLER FIELD PROJECT This guarantee is given by ALISO CONSTRUCTION to the CITY OF MOORPARK REDEVELOPMENT AGENCY (Redevelopment Agency) in consideration for the Redevelopment Agency entering into that certain Disposition and Development Agreement (DDA) dated June 17, 1998 with the Cabrillo Economic Development Corporation (Cabrillo), by which Cabrillo is obligated to construct at the Gisler Field site fifty -nine (59) single family residential dwelling units of which eleven (11) residential units are to remain affordable for purchase by low income households through the year 2032, and four (4) residential units are to remain affordable for purchase by very-low income households through the year 2032, and related public and private infrastructure improvements. Aliso Construction guarantees to the Redevelopment Agency that: (1) should Cabrillo dissolve or merge with another nonprofit organization that does not assume all of the responsibilities and obligations of Cabrillo in their entirety under the DDA, Aliso Construction shall perform, without limitation, all outstanding responsibilities and obligations of Cabrillo under the DDA through the year 2032; and (2) should, during the construction of the development required under the DDA, Cabrillo defaults under the terms of its loan or other financial obligations of the lending institution and the holder of the deed of trust options not to complete the construction work required under the DDA, Aliso shall perform Cabrillo's responsibilities and obligations to complete the construction required under the DDA. This guarantee shall be a continuing, irrevocable guarantee and indemnity of Aliso to the Redevelopment Agency. Any notice provided to Cabrillo, as required by the Disposition 00CICILS Gisler Field Project - Guarantee Agreement Page 02 and Development Agreement, shall be deemed to have been provided to Aliso Construction. Aliso Construction's consent shall not be required for any modification or extension of the Disposition and Development Agreement and any such act by Cabrillo shall not cancel or alter this guarantee in any way. Executed this -7 Vk day of July 1998. ALISO CONSTRUCTION President a 61) SCE Notarized: 00(Xl3 CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT State of��i Z, 0 2/�;, 19 County of I/z- Kr�jM, On '3UL-`% %, I Ilk before me, �1 / `( S-7V Date Name and Title of Officer (e.g., "Jane D ,Notary Public" personally appeared rLU441-11 Name(s) of Signer(s) - OR - roved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is /afe subscribed to the within instrument and acknowledged to me that he /she /" executed the same in tais /her /tbeiT authorized capacity(ies), and that by his/her/their signatureW on the instrument the person(sj, ARIFH.ARASTU or the entity upon behalf of which the person(o acted, T— COMM. #1040228 150 11 NOTARY PUBLIC - CALIFORMA M executed the instrument. OC VENTURA COUNTY j ires SEPTEMB RERE 31998 a WITNESS my hand and official seal. 4,u,..t Pu blic OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: A f:So t On5(YCcc on - �� ucc�a n +ee fe�wteK7 Document Date: ^7- 7- C1 W Number of Pages: Z Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: a h f laJC ❑ Individual Corporate Officer Title(s): yr-ed�, + 0(4 K f ❑ Partner — ❑ Limited ❑ General ❑ Attorney -in -Fact ❑ Trustee _ ❑ Guardian or Conservator ❑ Other: Top of thumb here Signer Is Representing: I/ -4-t //"isc> Con5;Y4tG(`,pL� Signer's Name: i Individual Corporate Officer Title(s): Partner — ❑ Limited ❑ General Attorney -in -Fact Trustee Guardian or Conservator Other: Signer Is Representing RIGHT THUMBPRINT OF SIGNER 0 1995 National Notary Association - 8236 Remmet Ave., P.O. Box 7184 - Canoga Park, CA 91309 -7184 Prod. No. 5907 Reorder: