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Resolution No. 2002 -107
MOORPARK REDEVELOPMENT AGENCY
REGULAR MEETING AGENDA
WEDNESDAY, JUNE 5, 2002
6:30 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 the Fiscal Year 2002/2003. Staff
Recommendation: Adopt Resolution No. 2002- (ROLL CALL
VOTE REQUIRED)
B. Consider'Loan Agreement Between the City of Moorpark and
the Moorpark Redevelopment Agency. Staff Recommendation.
Adopt Resolution No. 2002- , approving a Loan Agreement
with the City of Moorpark. (ROLL CALL VOTE REQUIRED)
5. 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)
Redevelopment Agency Agenda
June 5, 2002
Page 2
5. CLOSED SESSION: (continued)
C. CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION
(Subdivision (a) of Section 54956.9)
Mission Bell Plaza Phase II, LLC, a California limited
partnership vs. Redevelopment Agency of the City of
Moorpark (Case No. SCO28906)
D. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Pursuant to Government Code Section 54956.8)
Property: 203 E. Los Angeles Ave., Moorpark, CA 93021 and
213 E- Los Angeles Ave., Moorpark, CA 93021
Agency Negotiator: Steven Kueny, Executive Director
Negotiating Parties: The Redevelopment Agency of the City
of Moorpark and Wayne Colmer
Under Negotiation: Price and terms of payment
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 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 assistance to
participate in this meeting, please contact the City Clerk's Department at (605)
517 -6223. Notification 46 hours prior to the meeting will enable the City to make
reasonable arrangements to ensure accessibility to this meeting (28 CFR 35.102-
35.104 ADA Title II).
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CITY OF MOORPARK, CALIFORNIA
Redevelopment Agency Meeting
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MOORPARK REDEVELOPMENT AGENCY�4 �� �'
AGENDA REPORT
TO: Honorable Board of Directors
V�
FROM: Dana Shigley, Administrative Services Direct
DATE: May 23, 2002 (MRA Meeting of June 5, 2002)
SUBJECT: Consider Resolution Adopting an Operating and
Capital Improvements Budget for the City of
Moorpark Redevelopment Agency for the Fiscal Year
2002 -2003.
DISCUSSION
On May 15, 2002 the City Manager /Executive Director
presented to the Board of Directors his recommended
Operating and Capital Improvements Budget for the Fiscal
Year 2002 -2003. The Agency Board of Directors held a
public meeting on the budget during a study session on May
22. State law requires adoption of a budget prior to June
30, 2002. The Board of Directors did not direct that any
changes be made to the recommended Agency Budget.
STAFF RECOMMENDATION (Roll Call Vote)
Adopt Resolution No. 2002-
Attachment: Resolution No. 2002-
RESOLUTION NO. 2002-
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF MOORPARK, CALIFORNIA, ADOPTING THE
OPERATING AND CAPITAL IMPROVEMENT BUDGETS FOR THE
MOORPARK REDEVELOPMENT AGENCY FOR THE FISCAL YEAR
2002 -2003
WHEREAS, on May 15, 2002 the City Manager /Executive
Director's Recommended Budget for Fiscal Year 2002 -2003 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 May
22, 2002, 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 2002 -2003 (beginning July 1, 2002)
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 2002 -2003.
SECTION 2. The Executive Director is authorized to
amend the capital improvement budget for the 2002 -2003
fiscal year at the conclusion of the 2001 -2002 fiscal year
when a final accounting of project costs during the 2001-
2002 year is complete and continuing appropriations are
determined, as long as the total project appropriation
authorized by the Board of Directors is not exceeded.
Resolution No. 2002 -
Page 2
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.
SECTION 4. Except as otherwise provided in this
resolution, amendments to appropriations in the Fiscal Year
2002 -2003 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 5th day of June, 2002.
Patrick Hunter, Chairman
ATTEST:
Deborah S. Traffenstedt, Agency Secretary
Attachment: Exhibit "A"
Resolution No. 2002 -
Page 3
Exhibit A
Operating and Capital Improvements Budget
For the Moorpark Redevelopment Agency
Fiscal Year 2002 -2003
Provided Separatel
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CTTV OF MO }RPAIRK, CALTFOR'STA
Redevelopment Agency Meeting
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ACTION:
MOORPARK REDEVELOPMENT AGENCY
AGENDA REPORT
TO: Honorable Board of Directors
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FROM: Dana Shigley, Administrative Services Direct IV�'
DATE: May 23, 2002 (Agency Meeting of June 5, 2002)
SUBJECT: Consider 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, 2002.
DISCUSSION
In the coming year, the Agency has budgeted approximately $4.9
million in expenditures, including $2.9 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.
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 4 %.
The loan would be provided by the City General Fund, which
currently has sufficient cash available, and would be due no
later than or June 30, 2003.
C � � f-A P.
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Honorable Agency Board of Directors
May 23, 2002
Page 2
STAFF RECOMMENDATION (Roll Call Vote)
Adopt Resolution No. 2002- approving a Loan Agreement with
the City of Moorpark.
Attachment: Resolution No. 2002 -
Loan Agreement
RESOLUTION 2002-
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, 2002; and
WHEREAS, the Moorpark Redevelopment Agency has agreed to
accept the terms and conditions of the Loan Agreement dated July
1, 2002.
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, 2002, and
attached as Exhibit "A" to this resolution, is hereby adopted.
SECTION 2. The Agency Secretary shall certify to the
adoption
resolution
of this resolution and shall cause a certified
to be filed in the book of original Resolutions.
PASSED AND ADOPTED this 5th day of June, 2002.
Patrick Hunter, Chair
ATTEST:
Deborah S. Traffenstedt, Agency Secretary
Attachment: Exhibit "A"
LOAN AGREEMENT
THIS LOAN AGREEMENT is entered into this 1st day of July, 2002,
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,
2003, 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
X-� t
Loan Agreement, Page 2
July 1, 2002
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.
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