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Home My WebLink AboutAG RPTS 2005 0119 RDA REGJESTABLISHED umm is. its? �� 11FOR��4r Resolution No. 2005 -144 /tr OF 0DO MOORPARK REDEVELOPMENT AGENCY REGULAR MEETING AGENDA WEDNESDAY, JANUARY 19, 2005 7:00 P.M. Moorpark Communitv Center 799 Moorpark Avenue 1. CALL TO ORDER: 2. ROLL CALL: 3. PUBLIC COMMENT: 4. PRESENTATION /ACTION /DISCUSSION: A. Consider 2005 -2009 Implementation Plan for the Redevelopment Agency of the City of Moorpark. Staff Recommendation: 1) Open public hearing and accept testimony; and 2) Adopt Resolution No. 2005- approving the 2005 -2009 Implementation Plan for the Moorpark Redevelopment Project. (Staff: Hugh Riley) B. Consider Disposition and Development Agreement for the Sale of a .58 Acre Remnant Parcel Adjacent to New Public Works /Parks Department Corporation Yard to Hull Holdings, LLC. Staff Recommendation: Approve recommended Disposition and Development Agreement with Hull Holdings, LLC for the property, subject to final language approval by the Executive Director and Agency Counsel and authorize Agency Chair to execute Agreement. (Staff: Hugh Riley) 5. CONSENT CALENDAR: A. Consider Approval of Minutes of Regular Meeting of December 15. 2004. Consider Approval of Minutes of Special Meeting of January 5, 2005. Staff Recommendation: Approve minutes. Redevelopment Agency Agenda January 19, 2005 Page 2 5. CONSENT CALENDAR: (continued) B. Consider Resolution to Amend the Moorpark Redevelopment Agency Fiscal Year 2004 -2005 Budget for Textbook and Tuition Reimbursement. Staff Recommendation: Approve Resolution No. 2005- to amend the budget by $1,200. ROLL CALL VOTE REQUIRED (Staff: Hugh Riley) 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) C. CONFERENCE WITH REAL PROPERTY NEGOTIATOR (Pursuant to Government Code Section 54956.8) Property: APN 512 -0- 091 -080 and APN 512 -0- 091 -100 City Negotiator: Steven Kueny, City Manager Negotiating Parties: The City of Moorpark and Janss IV Recreation, Inc. (Theater on High /Larry Janss) Under Negotiation: Price and terms of payment 7. 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 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). Redevelopment Agency Agenda January 19, 2005 Page 3 STATE OF CALIFORNIA ) COUNTY OF VENTURA ) ss CITY OF MOORPARK } AFFIDAVIT OF POSTING I, Blanca Garza, 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, January 19, 2005, at 7:00 p.m. in the Council Chambers of the Moorpark Community Center, 799 Moorpark Avenue, Moorpark, California, was posted on January 14, 2005, 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 January 14, 2005. Blanca Garza, Deputy City Clerk To. From: Date: Subject: MOORPARK REDEVELOPMENT AGENDA REPORT Honorable City Council ITEM 4•A • CITY OF MOORPARK, CAL.IFORNIP: Redevelopment Agency Meeting of- u G , Hugh Riley, Assistant City ager January 5, 2005 (Agency Meeting of 01/19/2005) 2005 -2009 Implementation Plan for the Redevelopment Agency of the City of Moorpark BACKGROUND The Redevelopment Plan for the approximately 1,217 acre Project Area was adopted in March of 1987. Due to the ongoing successes of the Agency's redevelopment efforts, the Agency's goals and objectives for the Project Area are proposed to remain substantially the same for the 2005 -2009 planning period as those contained in the previous 1999 -2004 Implementation Plan. A list of the Agency's accomplishments is attached to this Agenda Report. Proposed new activities will continue to emphasize improvements in the downtown area to attract private investment. Proposed projects and programs in the 2005 -2009 Implementation Plan will generally include: i) final development of the City Hall /Civic Center complex, ii) private development of the western region of High Street, iii) infrastructure improvements including public parking, iv) public facilities including the Human Services Center; and v) improvements to the Moorpark Avenue Corridor. With respect to Agency affordable housing requirements, including inclusionary and replacement housing obligations, projections included in Section 6.0 of the Implementation Plan, suggest that if units are brought on -line and restricted as indicated, the Agency could exceed the minimum number otherwise expected. DISCUSSION In accordance with Californis Community Redevelopment Law (CCRL) Section 33490(a)(1)(A), each redevelopment agency that adopted a Honorable Agency Board of Directors January 19, 2005 Page 2 redevelopment plan prior to December 31, 1993, was required to adopt an implementation plan on or before December 31, 1994.1 The Agency has adopted its 1995 -1999 Implementation Plan and its 1999 -2004 Implementation Plan and, a proposed 2005 -2009 Implementation Plan (the "Implementation Plan ")is included as an attachment to this Agenda Report. As previously stated, the plan will continue an emphasis on attracting private investment to the downtown area, especially to High Street. Market demand appears to have caught up with the relatively high land cost on High Street, when compared locally to Los Angeles Avenue. There is increased interest in High Street by the private sector and an opportunity for leveraging private investment with tax increment monies. Pursuant to CCRL Sections 33490(b) and 33352(c), agencies that have adopted a new redevelopment plan on or after January 1, 1994,2 are required to adopt an implementation plan on the adoption date of the redevelopment plan, and each five years thereafter.3 Among other requirements, implementation plans must describe: i) specific Agency goals and objectives for the project area(s); ii) anticipated programs and projects; iii) income projections; and iv) estimated expenditures to be made during the next five years. In addition, an implementation plan shall provide an explanation of how proposed goals and objectives, programs, income, and expenditures will eliminate blight within the project area, as well as implement the requirements of CCRL Sections 33334.2, 33334.4, 33334.6 and 33413 et a1. with respect to affordable housing requirements. Working with Agency staff, Urban Futures, Inc. (UFI) has prepared the Agency's required Implementation Plan which includes new and /or modified Agency goals and objectives, a description of proposed five -year redevelopment projects and programs, income and expenditure projections, and identification Agencies may adopt Implementation Plans that include more than one Project Area. CCRL Sections 33490(b) and 33352(c) also apply for amendments to existing Plans that add new territory. 3 In addition, at least once during the five -year period, a public hearing on the Implementation Plan is required. Honorable Agency Board of Directors January 19, 2005 Page 3 of remaining conditions of blight in the Project Area. The Implementation Plan includes the Housing Production Plan for the Project Area, and discusses important Agency achievements during the past five -year cycle. While preparation and adoption of the Implementation Plan is mandatory, CCRL Section 33490(a) (1) (B) states that the adoption of the Implementation Plan shall not constitute an approval of any specific program, project, or expenditure and shall not change the need to obtain any required approval of a specific program, project, or expenditure from the Agency or community. It should also be noted that the Implementation Plan is not a "Project" as defined by the California Environmental Quality Act (CEQA). As required by law, notice of the public hearing has been given by publication three times in the Agency's newspaper of record and posted on January 4, 2005 at four sites within the Redevelopment Project Area including the Moorpark Chamber of Commerce, 225 West Los Angeles Avenue; the Moorpark Active Adult Center, 799 Moorpark Avenue; the Moorpark Library, 699 Moorpark Avenue; and the Mayflower Market, 165 High Street. The proposed Implementation Plan is now ready for public hearing and consideration by the Agency for adoption. STAFF RECOMMENDATION 1) Open public hearing and accept testimony. 2) Adopt Resolution 2005 - approving the 2005 -2009 Implementation Plan for the Moorpark Redevelopment Project. ATTACHMENT 1. Summary of Redevelopment Agency Accomplishments: 1987 -2004 2. 2005 -2009 Implementation Plan for the Redevelopment Agency of the City of Moorpark 3. Resolution No. 2005- Summary of Redevelopment Agency Accomplishments: 1987 -2004 • Subdivision of Gisler Field for affordable housing • Continuing improvements to Arroyo Vista Park • Acquisition of High Street Property — Note: The property includes about 1,100 feet and the addresses go from 18 High Street (Engineering, Building and Safety Offices; 68 High Street (BBQ Joint) to 226 High Street (former Jemco Plumbing Building) and encompasses the "One More Time" Store; the warehouse and the old Foster's grain mill and silos (192 High St.); Maria's Restaurant (104 High) and the dirt parking area between Maria's and the BBQ Joint. • Lease of the High Street Property to businesses • Established business assistance program in cooperation with Economic Development Collaborative of Ventura County. • Acquisition of 661 Morpark Avenue for lease unit and adjacent property for Public Works Corporation Yard • Acquisition and development of Poindexter Park • Acquisition of land and financing of Mission Bell Plaza, Phase II • DDA with CEDC for 15 affordable units on Gisler Field subdivision • LA Avenue wall and landscaping • Spring Road Storm Drain Study and improvements • Moorpark Avenue Storm Drain Study and Improvements • High Street Improvements • Flory Avenue Improvements • Charles Street Reconstruction • Miscellaneous concrete improvements- Charles Street • Lease of private property for CHP Offices on Moorpark Avenue • Prepared Joint City /Agency Development & Financing Plan for site acquisition and construction of public facilities downtown (Police Facility and Corporation Yard and Civic Center expansion) • Acquired Moorpark Mobile Home Park and Relocated 28 Households ATTACHMENT 1 • Acquired property on High Street for future Fire Station in exchange for old station property on Moorpark Avenue for future affordable housing development • Acquired commercial property at 798 Moorpark Avenue for affordable housing development. • Acquired residential property on Magnolia and relocated family to new dwelling on Charles Street. • Acquired 7.5 acre site on Spring Road for Police Services Center and Future Human Services Center Complex including Under -One Roof Human Services Center and Medical /Dental Clinic • Provided site on Minor Street for temporary Catholic Charities Service Center • Provided partial funding for Police Services Center • Acquired property on Fitch Road for future Public Works /Parks Department Corporation Yard • Acquired 284 Charles St. via tax default and build replacement dwelling unit • Acquired site for Magnolia Street Park • Acquired property on Millard Street at LA Avenue and built 3 affordable homes • Administered Home Rehabilitation and Mobile Home Rehabilitation Programs • Acquired 47 -51 High Street for future Civic Center • Acquired 467 High Street for mixed -use, commercial redevelopment • Provided rehabilitation loan financing for the High Street Theater (45 High Street) • Approved Disposition and Development Agreement for manufacturing business on remnant Fitche Road parcel retaining jobs.1 Moorpark Redevelopment Agency FIVE -YEAR IMPLEMENTATION PLAN 2005 -2009 (Including CCRL Section 33413(b)(4) Housing Compliance Plan) for the MOORPARK REDEVELOPMENT PROJECT JANUARY 2005 Prepared by Urban Futures Inc. 3111 North Tustin Avenue, Suite 230 Orange, Ca 92865 -1753 ATTACHMENT 9 ?11- 0 ! -# `E TABLE OF CONTENTS Moorpark Redevelopment Agency 2005 -2009 Implementation Plan Page 1.0 INTRODUCTION ......................... ..............................1 2.0 HISTORY OF THE AGENCY; DEVELOPMENT ACTIONS; SPECIFIC GOALS AND OBJECTIVES; AND ACCOMPLISHMENTS .... ............................... 2 2.1 Historical Overview ................... ..............................2 2.2 Summary of Blighting Conditions Existing in the Project Area ................. 4 2.3 Summary of Historic Purposes, Goals and Objectives ....................... 4 2.4 Summary of Historic Activities .......... ............................... 5 2.5 Description of How the Agency Has Implemented its Historic Goals ............ 5 3.0 AGENCY FIVE -YEAR GOALS AND OBJECTIVES: 2005 -2009 .................... 6 4.0 AGENCY'S PLAN TO IMPLEMENT ITS FIVE -YEAR NON - HOUSING GOALS ........ 9 4.1 Projected Agency General Redevelopment Fund Programs and Related Expenditures (2005 to 2009) ........... ............................... 9 4.1.1 Projects and Programs along the High Street Corridor in the Downtown Area ............... ..............................9 4.1.2 Project along the Moorpark Avenue Corridor in the Downtown Area....................... .............................11 4.1.3 Infrastructure Projects Throughout the Project Area ................ 11 4.2 Projected Income and Expenditures in the General Redevelopment Fund: FY 2004 -05 through FY 2008 -09 . ...... ............................... 12 5.0 STATEMENT THAT PROGRAMS AND EXPENDITURES WILL ELIMINATE BLIGHT WITHIN THE PROJECT AREA ............ ............................... 14 6.0 CCRL SECTION 33413(b)(4) HOUSING COMPLIANCE PLAN AND EVIDENCE OF AGENCY COMPLIANCE WITH CCRL SECTION 33334.4 ...................... 14 6.1 Compliance Requirements ............ ............................... 16 6.2 Tabulations Showing Existing Replacement and Inclusionary Housing Obligations (FY 1999 -00 through FY 2003 -04) ........................... 23 6.3 Affordable Housing Goal and Objectives . ............................... 23 6.4 Projected Agency LMI Fund Programs and Related Expenditures (2005 to 2009) .............................. .............................23 6.4.1 Housing Projects and Programs in the Downtown Area ............. 23 6.4.2 First Time Homebuyer Program -- Project Area Wide ................ 24 6.5 Tabulations Showing Projected Replacement and Inclusionary Housing Obligations (FY 2004 -05 through FY 2008 -09) ........................... 24 6.6 Low- and Moderate - Income Housing Fund .............................. 31 6.7 Evidence of Agency Compliance with CCRL Section 33334.4 ................ 31 6.7.1 Unmet Affordable Housing Need ............................... 31 6.7.2 Regional Housing Needs Assessment .......................... 33 6.7.3 Projected LMI Fund Expenditures by Age and Income .............. 33 6.8 Excess Surplus ...................... .............................35 6.9 Monitoring .......................... .............................35 January 2005 ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd is r1_111 1105 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 7.0 TEN -YEAR AND LIFE -OF- THE -PLAN HOUSING REQUIREMENTS .............. 35 8.0 CONSISTENCY WITH CITY'S GENERAL PLAN HOUSING ELEMENT ............ 36 9.0 CONCLUSIONS .......................... .............................37 LIST OF TABLES Table Page 1 Redevelopment Plan History ............... ............................... 2 2 Blighting Conditions Remaining Within the Project Area ......................... 4 3 Goals' Nexus to Blight Elimination ........... ............................... 8 4 Projected General Redevelopment Fund Program Expenditures .................. 13 5 Program and Expenditures' Nexus to Blight Elimination ......................... 15 6 Total Dwelling Units Destroyed or Removed by the Agency Inside the Project Area Including an Inventory of Replacement Units Provided .......................... 18 7 Dwelling Units Developed and Substantially Rehabilitated by the Agency Inside the Project Area ............................. .............................19 8 Dwelling Units Developed and Substantially Rehabilitated by the Agency Outside the ProjectArea ............................. .............................20 9 Dwelling Units Developed and Substantially Rehabilitated by Public or Private Entities or Persons Other than the Agency Inside the Project Area ...................... 21 10 Summary of Dwelling Units Developed and Substantially Rehabilitated by the Agency and Others Including an Inventory of the Agency's Inclusionary Unit Obligation ....... 22 11 Total Dwelling Units Projected to Be Destroyed or Removed by the Agency Inside the Project Area Including an Inventory of Replacement Units Provided ............... 26 12 Dwelling Units Projected to Be Developed and Substantially Rehabilitated by the Agency Inside the Project Area ............ ............................... 27 13 Dwelling Units Projected to Be Developed and Substantially Rehabilitated by the Agency Outside the Project Area ........... ............................... 28 14 Dwelling Units Projected to Be Developed and Substantially Rehabilitated by Public or Private Entities or Persons Other than the Agency Inside the Project Area .......... 29 15 Summary of Dwelling Units Projected to Be Developed and Substantially Rehabilitated by the Agency and Others Including an Inventory of the Agency's Inclusionary Unit Obligation............................... .............................30 16 Projected LMI Fund Program Expenditures ... ............................... 32 17 Fair Share Housing Allocation ............. ............................... 33 18 Projected Agency LMI Fund Expenditures and Analysis of Future Unmet Need ....... 34 `5 00,0t-) January 2005 ZA00PIn Active\ Moorpark \005\2005.20091PvFinalt.wpd ll r1_1 /11/05 LIST OF FIGURES Figure Moorpark Redevelopment Agency 2005 -2009 Implementation Plan Page 1 Project Area Map ......................... ..............................3 APPENDICES Appendix A — CCRL Section 33490 Appendix B — Affordable Housing Requirements January 2005 Z100PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 111 H-1/1 1/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan FIVE -YEAR IMPLEMENTATION PLAN 2005 -2009 MOORPARK REDEVELOPMENT AGENCY 1.0 INTRODUCTION This five -year implementation plan (the "Implementation Plan ") is the third in a series of redevelopment implementation plans mandated since 1994 by the State legislature's adoption of AB 1290 which added Section 33490 to the California Community Redevelopment Law ( "CCRL," being Section 33000 et seq. of the California Health and Safety Code). The Moorpark Redevelopment Agency (the "Agency ") adopted its first implementation plan (the "1995 -99 Implementation Plan ") on December 7, 1994, by adoption of its Resolution No. 94 -31 and its second implementation plan (the "1999 -04 Implementation Plan ") on January 19, 2000, by adoption of its Resolution No. 2000 -90. Additionally, and also pursuant to CCRL Section 33490, the Agency approved mid -term updates for both the 1995 -99 and 1999 -04 Implementation Plans on December 17, 1997, (Resolution No. 97 -66) and on October 15, 2003, (Resolution No. 2003 -130) respectively. This Implementation Plan provides the Agency Board of Directors (the "Board ") and interested community residents with: i) a concise history of Agency activities up to the end of Fiscal Year 2003 -04' (Section 2); ii) a discussion of Agency goals and objectives for the next five years, derived, in part, from goals and objectives identified in the 1995 -99 and 1999 -04 Implementation Plans (Section 3); iii) a description of the projects and programs the Agency intends to operate over the next five years to implement its goals and objectives (Section 4); iv) a description of how implementation of the projects and programs will eliminate blight within the Moorpark Redevelopment Project Area (the "Project Area ") (Section 5); v) the CCRL Section 33413(b)(4) Compliance Plan (Section 6); vi) a description of the "ten- year" and "life -of- plan" requirements and how the Agency will meet these requirements (Section 7); vii) a discussion of the Implementation Plan's consistency with the City's General Plan (Section 8); and viii) a set of conclusionary statements (Section 9). Pertinent portions of CCRL Section 33490 are provided in Appendix "A." These are provided for the convenience of the reader interested in the legal requirements behind the need for this Implementation Plan and its contents. The full and complete text of CCRL Section 33490 can be found online at www.leginfo.ca.gov under Division 24, Community Development and Housing, Part 1, Community Redevelopment Law, Chapter 4, Redevelopment Procedures and Activities, Article 16.5, Adoption of Implementation Plans. Historic information contained in the Implementation Plan is based on a review of Agency reports and budgets, the 1999 -04 Implementation Plan (and to a minor extent the 1995 -99 Implementation Plan), and discussion with Agency staff. Projections for FY 2004 -05 through 2008 -09 are based upon trends identified in the historic information, an understanding of anticipated Agency activities over the term of the Implementation Plan, and calculations and projections by the City's consultant, Urban Futures, Inc.'s (UFI). ' Even though historic references in the Implementation Plan technically date through December 2004 from a practical perspective it is impossible to provide meaningful description of events which take place after the Agency has closed its FY 2003 -04 books on June 30, 2004. January 2005 ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 1 rl 1/11/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 2.0 HISTORY OF THE AGENCY; DEVELOPMENT ACTIONS; SPECIFIC GOALS AND OBJECTIVES; AND ACCOMPLISHMENTS 2.1 Historical Overview The City Council of the City of Moorpark (the "City Council" and the "City," respectively) activated the Agency on March 18, 1987, by its Ordinance No. 87, for the primary purpose of eliminating blight and stimulating the City's economic base. Growth would occur primarily through the development of new public improvements, commercial and industrial projects, and new affordable housing projects. Table 1 shows the history of the Agency and the Redevelopment Plan for the Moorpark Redevelopment Project (the "Redevelopment Plan" and the "Project," respectively). TABLE 1 REDEVELOPMENT PLAN HISTORY Agency Activated: ........... March 18,1987 Redevelopment Plan Adopted: ... July 5, 1989 Ordinance No. 87 Ordinance No. 110 Term of Plan 40 Years (2029) Total Project Area (in acres) 1,217 acres Base Year' 1988 -89 Refers to the base year for the purpose of allocating taxes in the Project Area. The location and boundaries of the Project Area are shown in Figure 1. Figure 1 also identifies the downtown portion of the Moorpark community (the "Downtown Area ") as being generally that area along High Street and the Southern Pacific Railroad from just west of Moorpark Avenue to east of Spring Road and extending south along the Moorpark Avenue corridor to Los Angeles Avenue. It has been the Agency's intent to focus on addressing the blighting conditions within the Project Area generally and specifically within the Downtown Area during implementation of the Redevelopment Plan. While the Agency's activities have addressed a number of blighting conditions within the Project Area, many of the blighting conditions that existed at the time of adoption of the Redevelopment Plan still exist within the Project Area and the Downtown Area. Over the planning cycles of the 1995 -99 and 1999 -04 Implementation Plans, the Agency focused on planning for the revitalization of the Downtown Area while implementing many programs and projects in other parts of the Project Area (see Section 2.4 below for a discussion of historic projects and programs). Now, during the planning cycle of this Implementation Plan, the Agency intends to focus virtually all its efforts, financial resources, and energies on the revitalization of the Downtown Area. This "total commitment" effort for the Downtown Area will include both non - housing activities identified in Section 4 and housing activities identified in Section 6 of this Implementation Plan. It is anticipated that this program will help transform High Street (and to a lesser extent Moorpark Avenue north of Los Angeles Avenue) from a slightly run -down commercial area with a commuter rail station that closes up at 6 pm on weekdays, to a more vibrant, full service downtown where people live, work and shop into the early evenings and on weekends. "9()cozu -1 "i J , January 2005 Z100PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 2 r1_1 /11/05 7--T 1 - --------------- L X- - - - - - - LEGEND Ej Moorpark Redevelopment Project Area I � I I it - _ _ - � (Approximate Boundaries) r �. _ r - - r] Moorpark City Boundary E3Downtown SEecific Plan Boundary Prepared By: Urban Futures, Inc. June 4, 2004 2005-09 Implementation Plan M.omr, park Redevekolp muent Prqjjerct". Redevelopment Agency of the City of Moorpark Figure 1 MP-AB1290-05-09.WOR Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 2.2 Summary of Blighting Conditions Existing in the Project Area The blighting conditions existing in the Project Area include both physical and economic blight as shown in Table 2 below: TABLE 2 BLIGHTING CONDITIONS REMAINING WITHIN THE PROJECT AREA' BLIGHT DEFINITION PHYSICAL ECONOMIC CCRL Section 33031(a) CCRL Section 33031(b) - Deficient, Deteriorated, or Dilapidated Buildings - Prevalence of Economic Maladjustment - Older or Obsolete Buildings and Structures - Prevalence of Depreciated Values and Impaired Investments - Mixed and Incompatible Buildings And Land Uses - Parcels with Irregular Form, Shape and Size ' Includes inadequate public improvements per CCRL Section 33030(c). These conditions of blight are more specifically described in the Report to the City Council required by CCRL Section 33352 as a part of the adoption process for the Redevelopment Plan. This Report is on file with the City Clerk of the City and is incorporated herein by reference. Other than for the Agency activities described in Section 2.3 below and activities on the part of private developers within the Project Area, conditions within the Project Area remain substantially the same as when the Redevelopment Plan was adopted. As previously stated, the Implementation Plan will continue an emphasis on attracting private investment to the downtown area, especially to High Street. Market demand appears to have caught up with the relatively high land cost on High Street, when compared locally to Los Angeles Avenue. There is increased interest in High Street by the private sector and an opportunity for leveraging private investment with tax increment monies. It is the Agency's intention to continue its focus on addressing the remaining conditions of blight during the term of this Implementation Plan. 2.3 Summary of Historic Purposes, Goals and Objectives The Redevelopment Plan is a long -term document and, accordingly, includes generalized development actions which are intended to remain germane over the term of the Redevelopment Plan. In summary, these development actions, found in Section 400 of the Redevelopment Plan, are as follows: i) improvements to the public infrastructure; ii) acquisition and disposal of real property; iii) redevelopment of residential, commercial, or industrial land by private or public entities, including the financing thereof; iv) rehabilitation of structures, or development of vacant land, as appropriate by owners; and v) other actions in accordance with the CCRL. As described above, implementation plans span a period of five years; consequently the goals and objectives set forth in such short-term plans are more specific and are intended to be modified over time as they are met and /or events require their modification. Chapter IV of the 1995 -99 Implementation Plan (pp 6 through 8) provided three non - housing goals and one housing goal summarized as follows: i) preserve and enhance the economic ,I January 2005 4 ZA00PIn Active\ Moorpark \005\2005- 20091PvFinalt.wpd rl 1/11/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan prosperity of the community and aid business development and retention; ii) develop an implementation strategy for Downtown revitalization; iii) provide infrastructure for business development; and iv) promote affordable housing and residential support programs and services. The goal to develop an implementation strategy for the Downtown has been realized, the remaining three goals remain valid. The 1999 -04 Implementation Plan, Chapter IV (p 8) modified and reduced the three non - housing goals to two such goals as follows: i) "encourage and aid economic development in the Project Area "; and ii) "make improvements to Project Area infrastructure and public facilities which benefit the Project Area ". The housing goal is found in Section VI of the 1999 -04 Implementation Plan (p 16) and provides for the Agency to "increase the supply of very low -, low- and moderate - income housing opportunities, both for ownership and rental markets." 2.4 Summary of Historic Activities Since adoption of the Redevelopment Plan in 1989 and until 1993 the Redevelopment Plan was the subject of a lawsuit which precluded the Agency from expending any funds. From July, 1993, through 1994, the Agency's activities are identified in Table 2 (page 4) of the 1995 -99 Implementation Plan. Generally, these improvements were to the infrastructure in or benefitting the Project Area or to public recreation spaces and service facilities. The Agency purchased land known as "Gisler Field" which it has been improving since its original purchase. Agency activities from 1995 through 1999 are identified in Table 2 (pages 5 and 6) of the 1999 -04 Implementation Plan. The Agency completed 22 major projects which, in summary, included the following categories: i) continued the program of improvements to public infrastructure either in or of benefit to the Project Area; ii) assisted in the development or rehabilitation of public and quasi - public uses (parks, public office space, non - profit spaces benefitting the community); iii) participated in public /private partnerships (leasing of office space to the CHP); iv) engaged in business retention /attraction activities; and v) completed various housing programs and projects. Ten of these 22 major projects were completed within or of direct benefit to the Downtown Area. 2.5 Description of How the Agency Has Implemented its Historic Goals The Agency is successfully implementing its goals as set forth in the 1999 -04 Implementation Plan. For instance, Goal No. I provides for the Agency to encourage and aid economic development in the Project Area. The Agency's activities in the Gisler Park area (which provides 15 acres for retail development); in the Downtown Area (lease of parcels along High Street and the various business retention and attraction programs); the Agency's assistance to the Mission Bell II retail center; and more recently, renovation financing and temporary parking improvements for the historic Theater on High Street, all advance this goal. Goal No. II calls for the Agency to make improvements to Project Area infrastructure and public facilities. Examples of Agency activities to advance this goal include its work on Los Angeles Avenue (wall and landscaping), High Street, Flory Avenue and Charles Street; improvements to Arroyo Vista Community Park, Poindexter Park, and Gisler Field (for a seven -acre downtown park); and construction of the Spring Road median and storm drains in Moorpark Avenue and Spring Road. The Agency's housing goal, Goal No. 111, is being implemented through housing programs on Gisler Field, a First Time Homebuyer Program, the rehabilitation of existing housing within the Project Area, the development of a mobile home rehabilitation loan program, and the reservation of almost 100 units of new construction as affordable housing. "Wa i. ile January 2005 ZAOOPIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 5 rl 1/11/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 3.0 AGENCY FIVE -YEAR GOALS AND OBJECTIVES: 2005 -2009 CCRL Section 33490(a)(1)(A) states that an implementation plan shall contain an Agency's specific goals and objectives for the project area. The Agency's currently adopted goals have been summarized in Section 2.3 above. Based upon conversations with Agency staff and a review of goals in the 1999 -04 Implementation Plan, it is proposed that the Agency's goals and objectives for the Implementation Plan retain those found in the 1999 -04 Implementation Plan and be augmented by a new goal which will specifically focus attention on the Agency's ongoing activities to revitalize the Downtown Area. GOAL NO. I: ENCOURAGE AND INCREASE ECONOMIC DEVELOPMENT ACTIVITIES IN THE PROJECT AREA OBJECTIVES: 1.1 Provide resources for establishing new and retaining and expanding existing commercial and industrial businesses in the Project Area. 1.2 Provide assistance with land acquisition and relocation of existing uses to support public and private development. 1.3 Amend the Redevelopment Plan to re- institute eminent domain authority within the Project Area as stipulated in Ordinance 111. GOAL NO. II: MAKE IMPROVEMENTS TO PROJECT AREA INFRASTRUCTURE AND PUBLIC FACILITIES WHICH BENEFIT THE PROJECT AREA OBJECTIVES: 11.1 Provide funding, as appropriate and feasible, for public facilities, such as parking facilities, which serve properties in the Project Area. 11.2 Continue funding for infrastructure improvements in the public right- of- way (including sewer, storm drain, water systems, and surface improvements) which benefit the Project Area. 11.3 Reduce traffic congestion, install traffic signals as needed, improve public safety, and reduce parking deficiencies within the Project Area. 11.4 Provide funding, as appropriate and feasible, for public service facilities such as a library, senior center, and public safety facility improvements. GOAL NO. III: REVITALIZE THE DOWNTOWN AREA OBJECTIVES: 111.1 Complete redevelopment of Agency -owned properties on High Street including 467 High Street and property on the south side of High Street between the MetroLink lot and Moorpark Avenue. 111.2 Work with private developers to acquire and redevelop property on the east end of High Street. 111.3 Install MetroLink Station landscaping and access improvements. 111.4 Design and construct the new Magnolia Park on Charles Street. 111.5 Complete streetscape improvements along High Street and Moorpark Avenue including: i) public and angle parking on High Street; ii) widening /realignment of both streets; and iii) ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd on JI� January 2005 H-1/1 1/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan enhancing pedestrian safety by installing lighted, decorative bollards delineating vehicular and pedestrian zones on both streets. 111.6 Develop and implement a Preservation /Reuse Plan for Birkenshaw House and property. 111.7 Construct new City Hall /Civic Center and Public Works /Parks Department Corporation Yard and complete construction of Police Services Center. 111.8 Underwrite or finance and construct the Human Services Center on a two -acre site north of the Police Services Center. 111.9 Promote affordable housing by developing a minimum of 150 new affordable housing units in the Downtown Area, including both single family units and multiple family units. 111.10 Provide additional opportunities for improving the Walnut Canyon residential area north of Casey Road to complement Tract 5405 (which has nine moderate, four low, and four very low income units). GOAL NO. IV: INCREASE, IMPROVE, AND PRESERVE THE SUPPLY OF VERY LOW -, LOW -, AND MODERATE - INCOME HOUSING OBJECTIVES: IV.1 Promote and participate in public /private partnerships with non - profit and for profit developers and /or property owners to rehabilitate existing rental units for very low- and low- income households. IV.2 Develop and implement owner - occupied, revolving loan program(s) for low and moderate income households. IV.3 Work with property owners and the development community to identify in fill parcels and to develop new housing units for very low -, low -, and moderate - income households on these parcels. IVA Work with the City to require new housing developments outside of the Project Area to contribute financing and/or inclusionary units intended for low- and moderate - income households. IV.5 Provide additional opportunities for improving the Walnut Canyon residential area north of Casey Road to complement Tract 5405 (which has nine moderate, four low, and four very low income units). CCRL Section 33490(a)(1)(A) requires that each implementation plan prepared by a redevelopment agency contain an "...explanation of how the goals and objectives... will eliminate blight within the Project Area...." Table 3 below shows the relationship between the Agency's specific five -year goals and objectives to the eradication of remaining blight, as defined in CCRL Sections 33030 and 33031, located within the Project Area. ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd '1t)a'J1(r, January 2005 r1_1/1 1/05 TABLE 3 GOALS' NEXUS TO BLIGHT ELIMINATION' PHYSICAL CONDITIONS ECONOMIC CONDITIONS INFRASTRUCTURE GOALS2 Deficient, Deteriorated Older or Obsolescent Mixed and Incompatible Parcels with Irregular Prevalence of Economic Prevalence of Depreciated Values Infrastructure or Delapidate Buildings Buildings Buildings and Land Uses Form, Shape and Size Maladjustment and Impaired Investments Deficiencies Encourage and increase economic development in the Project Area • • • • • • Make improvements to Project Area infrastructure and public facilities which benefit the Project Area • Revitalize the Downtown Area Increase, improve & preserve the supply of very low -, low -, and moderate - income housing ' Complies with CCRL Section 33490(a)(1)(A). 2 Objectives are not shown here. For purposes of this matrix, attainment of Agency goals assumes realization of the objectives attached to each goal (see Section 3 of this Implementation Plan). Ci A Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 4.0 AGENCY'S PLAN TO IMPLEMENT ITS FIVE -YEAR NON - HOUSING GOALS The Agency's three non - housing goals provide for it to encourage economic development, improve the public infrastructure, and revitalize the Downtown Area. The discussion below describes projected Agency programs and projects which will implement these goals and shows, in Table 4, how these programs and projects are projected to be funded through the completion of the Implementation Plan planning cycle. 4.1 Projected Agency General Redevelopment Fund Programs and Related Expenditures (2005 to 2009) CCRL Section 33490(a)(1)(A) requires that the implementation plan prepared and adopted by each redevelopment agency contain "...the specific programs, including potential projects, and estimated expenditures proposed to be made during the next five years...." The Agency and its staff have engaged in extensive dialogue with Agency Board members and interested citizens to identify the projects and programs which will most clearly implement the Redevelopment Plan and the previous Implementation Plans. As a result of these activities, the Agency has identified a set of projects and programs to be completed over the next five years. As described in the introduction to this Implementation Plan, the Agency intends to focus all of its major efforts on the Downtown Area. The projects and programs listed below reflect this focus. It should be noted that redevelopment pursuant to the CCRL is opportunistic in nature; the fact that the Agency has focused its efforts during the current planning cycle on the Downtown Area would not preclude the Agency from exercising its powers and authority elsewhere in the Project Area were an opportunity to arise. However, in the absence of any such opportunity, the Agency's planned activities during the next five years would include those set forth in Subsections 4.1.1 through 4.1.3 below. It should also be noted that discussion of projected costs set forth below are reflective more of total anticipated Agency expenditures rather than any specific amount which may be available for any specific transaction into which the Agency might enter with a private party. The overall strategy for the Downtown Area's revitalization depends on a concentrated effort by public and private entities developing public and private uses. The public participation will include: i) "anchoring" both the western and eastern ends of the High Street Corridor with the continued development of the Civic Center complex near the northwest corner of High Street and Moorpark Avenue (on the western side of the Downtown Area) and the completion of the Police Station /Human Services buildings on the southeast corner of High Street extension and Spring Road (on the eastern side of the Downtown Area); ii) improving the public way along High Street to connect these two anchors; and iii) assisting in the development of private property on High Street to provide full time activity in the downtown. Based in part upon the evidence of its commitment, and also on a proven market demand for such "full time activity," the Agency anticipates that private developers will develop and /or rehabilitate retail commercial and restaurant uses along High Street and Moorpark Avenue. 4.1.1 Projects and Programs along the High Street Corridor in the Downtown Area Civic Center Complex Within the restrictions of the CCRL, the Agency has been working with the City to provide for the development of a new Civic Center complex which will anchor the western end of the Downtown Area. No Agency funds are projected for this endeavor during the current planning cycle. n January 2005 9 ZA00PIn Active\Moorpark \005\2005- 20091PvFinall.wpd H1/11/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan West High Street Development The Agency issued a request for proposals early in 2004 for the development of Agency - owned land fronting the south side of High Street between Moorpark Avenue and the MetroLink Station parking lot. As a result, the Agency is currently negotiating a disposition and development agreement with a real estate development company that will provide for the development of a mixed use retail commercial /office /restaurant complex. As a part of the transaction, the Agency will consider improvements to High Street including angled parking, and other streetscape improvements, as well as other improvements which would enhance and support the proposed private development. Although it is impossible to project accurate public expenditures at this juncture, Agency staff believes that the Agency should set aside $2 million for expenditure in FY 2005 -06 to finance the public improvements projected for High Street and other downtown streets. Magnolia Street Park This 15,000 square foot park will be located at the southwest corner of the easterly right -of- way line of Magnolia Street and Charles Street directly behind the new Fire Station which was completed with Agency assistance during the planning cycle of the 1999 -04 Implementation Plan? This park will serve current and anticipated Downtown Area residents (including senior and disabled residents of the adjacent Tafoya Terrace project), as well as visitors to High Street businesses. The Agency has purchased the necessary property and will provide necessary improvements during FY 2005 -06 at a projected cost of $150,000. Completion is scheduled to occur by June 2006. Completion of this park will provide a public meeting /focal point, an important component of any successful downtown space. East High Street Development As a companion to its participation in the development of West High Street discussed above, the Agency is commencing the planning work for development of the south side of High Street east of the MetroLink Station to Spring Road. Although no specific development scheme has yet been determined, the Agency will continue to insist that all private improvements advance the concept of a downtown area with activity during the evenings and on weekends. The Agency has projected the expenditure of $150,000 for planning of this area in both FY 2005 -06 and FY 2006 -07 ($75,000 per fiscal year) and of approximately $4 million in both FY 2007 -08 and FY 2008 -09 ($2 million per fiscal year) for land acquisition, public improvements, and other necessary public activities to stimulate economic revitalization, leverage investment, and attract visitors to the area. Northwest Corner of High Street and Spring Road The Agency currently owns 467 High Street, a vacant parcel which is one parcel to the west of the northwest corner of High Street and Spring Road. The Agency is currently negotiating a disposition and development agreement with a private developer for an office and retail commercial use to help "anchor" the northern side of High Street to the east of Magnolia Street. It is not anticipated that any private party development of this parcel would involve Agency funding. 2 Plans call for the vacation of Magnolia Street north of the new Fire Station and incorporation of the vacated right -of -way into the Magnolia Park. 10 0 0X131 �) Z:\OOPIn Active\ Moorpark \005\2005.20091PvFinall.wpd 10 January 2005 rl_t /11/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan Human Services Center Located at 612 Spring Road Oust to the north of the Police Station), the Human Services Center is planned as a two building complex which will include a medical clinic in one building and an "under one roof' complex of human services organizations in the other building. The Agency has selected its architect and anticipates completion of construction by December 2006. Agency staff anticipates the expenditure of approximately $3 million in FY 2005 -06 on this project for support of project financing by a private non - profit development partner. Police Station The Police Station (located at 610 Spring Road) is projected to be completed by April 2005. Agency funds have been used for property acquisition and part of the development costs and no further major funding is anticipated in the current planning cycle. 4.1.2 Project along the Moorpark Avenue Corridor in the Downtown Area The westerly portion of the Downtown Area includes the Moorpark Avenue Corridor running from City Hall south to Los Angeles Avenue. This corridor is an important part of a viable downtown and has the potential of providing the Downtown Area with alternative retail commercial, office, and restaurant space as prime location space along High Street begins to fill up. The Agency anticipates commencing public works and land acquisition activities in this corridor during the later part of the Implementation Plan planning cycle. The reason for this phasing is three -fold. In the first place the Agency intends to concentrate commercial activity along High Street and to implement this intention it needs to be sure that rents and occupancies are "stabilized" there before shifting focus to another portion of the Downtown Area. Second, it is not at all clear that there is currently sufficient market demand for rental space along both Moorpark Avenue and High Street. The Agency is focusing on the current private market interests by concentrating development along High Street prior to commencing development along Moorpark Avenue. Third, the Agency does not currently have the right of eminent domain within the Project Area (which right expired in July 2001). Absent this right, it is extremely difficult for the Agency to engage in any thorough program of land acquisition as would likely be necessary to implement a Moorpark Avenue Corridor revitalization project. The Agency is reviewing the potential of reinstating its limited right to use eminent domain in the Project Area. The Agency has projected the expenditure of up to $3 million in both FY 2007 -08 and FY 2008 -09 to support and leverage private investments ($1.5 million in each fiscal year) which should stimulate private development during the early part of the term of the next implementation plan. 4.1.3 Infrastructure Projects Throughout the Project Area Although the main focus of Agency activities in the current planning cycle are oriented toward the Downtown Area, it is important to provide for miscellaneous infrastructure projects in other portions of the Project Area which are likely to become important during the term of the current planning cycle. Therefore, from FY 2005 -06 through FY 2008 -09 this Implementation Plan reserves $200,000 per year for miscellaneous infrastructure projects to be completed in portions of the Project Area outside the Downtown Area. January 2005 ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd II H-1/1 1/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 4.2 Projected Income and Expenditures in the General Redevelopment Fund: FY 2004 -05 through FY 2008 -09. As shown in Table 4 and based upon its review of the Agency's FY 2004 -05 Budget,' this Implementation Plan projects that the Agency will begin the five -year cycle of the Implementation Plan with a Beginning Balance of $13.7 million in its General Redevelopment Fund. This amount will be augmented annually by deposits of tax increments which, in FY 2004 -05 equal $1.7 million. UFI has projected a three percent annual increase in assessed valuation in the Project Area to generate projected tax increment revenues in FY 2008 -09 of $1.9 million. UFI has projected interest income equal to two percent of each year's Beginning Balance. The FY 2004 -05 Budget showed "Other" income to the Agency of $108,000. These funds have been characterized as miscellaneous rents. To be conservative, UFI has not projected any additional miscellaneous income to the Agency during the term of the Implementation Plan. As was discussed in Section 4.1 above, the Agency has a broad list of programs and projects it intends to complete during the Implementation Plan planning cycle. Were the Agency unable to secure additional funding, it would be unable to afford all the programs it needs to implement in the Downtown Area. Therefore, this Implementation Plan projects the Agency's issuance of a tax allocation bond in FY 2008 -09 in the face amount of $5 million. Net proceeds to the Agency would equal approximately $4.45 million, 80 percent of which, or $3.6 million have been allocated to the Agency's General Redevelopment Fund in FY 2008 -09 under the line item "Bond Proceeds." The balance of these funds are shown in Table 16 in the LMI Fund. Agency expenditures for "Capital Projects" and "Infrastructure" have been discussed above in Section 4.1. Agency staff projects that during FY 2005 -06 the Agency will expend in excess of $5.2 million for capital improvements in the Downtown Area focused primarily on development of the West High Street Project ($2 million) and the Human Services Building Project ($3 million). Additionally, Agency staff will begin planning development of East High Street during FY 2005 -06 and FY 2006 -07. During each of the last two years of the Implementation Plan planning cycle, the Agency is projected to expend $2 million per year on the East High Street Project and $1.5 million per year on the Moorpark Avenue Project. Table 4 provides $200,000 per year starting in FY 2005- 06 for "Infrastructure" projects throughout the Project Area. Although there are no specifically identified projects at this time, reserving $800,000 over the term of the Implementation Plan for infrastructure improvements will ensure the Agency that it has funding for miscellaneous projects when and as they come about. Costs of "Administration" are taken from the Agency's FY 2004 -05 Budget for that year and increased four percent per year thereafter. Debt service payments are projected to remain relatively steady during the term of the Implementation Plan except that in FY 2008 -09, Table 4 shows an increase of $290,560 which equals 80 percent of total debt service attributable to the projected $5 million bond sale discussed above. The remaining 20 percent of debt service payments will be allocated to the LMI Fund described in Table 16. 3 UFI used the FY 2004 -05 Budget to provide Beginning Balances, expenditures, and revenues for FY 2004 -05. Revenues and expenditures from FY 2005 -06 onwards are based upon UFI projections. 7 January ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 1 2 d_1/11/05 Cam, ?01 IL TABLE 4 PROJECTED GENERAL REDEVELOPMENT FUND PROGRAM EXPENDITURES (Fiscal Years 2004 -05 to 2008 -09) PROGRAM CATEGORY EXPENDITURES FISCAL YEAR 2004 -05' 2005 -06 2006 -07 2007 -08 2008 -09 Yearly Beginning Balances on July 1 $13,709,090 $12,744,825 $7,168,334 $6,933,384 $3,282,883 Estimated Receipts A. Tax Increment $1,725,202 $1,759,706 $1,794,900 $1,830,798 $1,867,414 B. Interest Income $282,000 $254,897 $143,367 $138,668 $65,658 C. Bond Proceeds $3,560,000 D. Other3 $107,792 Total Available $15,824,084 $14,759,428 $9,106,601 $8,902,850 $8,775,954 Estimated Expenditures A. Capital Projects $936,091 $5,225,000 $75,000 $3,500,000 $3,500,000 B. Infrastructure $200,000 $200,000 $200,000 $200,000 C. Administration $551,515 $573,576 $596,519 $620,379 $645,195 D. Debt Service $1,217,979 $1,218,844 $1,221,698 $1,219,588 $1,511,131 E. ERAF° $293,674 $293,674 F. Others $80,000 $80,000 $80,000 $80,000 $80,000 Total Expenditures $3,079,259 $7,591,094 $2,173,217 $5,619,967 $5,936,326 Yearly Ending Balance $12,744,825 $7,168,334 $6,933,384 $3,282,883 $2,839,629 ' Source for all information in FY 2004 -05 from the Agency's FY 2004 -05 Budget. 2 2% of each year's Beginning Balance. 3 Rents and Loan Payoffs equals $69,792 (rents) and $38,000 (loan payoffs). 4 ERAFpayments are estimated bythe California Redevelopment Association, using historic data from the State Controller's Office— Division of Accounting and Reporting. ERAF payments are mandate only for FY 2004 -05 and FY 2005 -06. 5 Interest and Other miscellaneous costs. 13 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 5.0 STATEMENT THAT PROGRAMS AND EXPENDITURES WILL ELIMINATE BLIGHT WITHIN THE PROJECT AREA CCRL Section 33490(a)(1)(A) requires that the implementation plan prepared by each agency provide an explanation of how the programs and expenditures will eliminate blight within the project area. Table 5 shows the relationship of the proposed projects /programs categories to the eradication of remaining blight, as defined in CCRL Sections 33031 of the CCRL, within the Project Area. 6.0 CCRL SECTION 33413(b)(4) HOUSING COMPLIANCE PLAN AND EVIDENCE OF AGENCY COMPLIANCE WITH CCRL SECTION 33334.4 CCRL Section 33414(b)(4) requires each redevelopment agency to adopt a compliance plan as part of the implementation plan required by CCRL Section 33490 indicating how the agency will comply with the requirements set forth in CCRL Section 33414(b). This Section 6 of the Implementation Plan complies with this requirement and is the Agency's Housing Compliance Plan. Further, this Section 6 describes how the Agency intends to expend monies in the LMI Fund consistent with the provisions of CCRL Section 33334.4 as amended by Assembly Bill 637 and made effective on January 1, 2002. The City has adopted its "City of Moorpark Strategic Plan, November 2004" (the "Strategic Plan ") a part of the County's Consolidated Plan required by the Federal Department of Housing and Urban Development. While discussion of housing needs identified in the Strategic Plan are not specifically required to be included in this Implementation Plan, the Strategic Plan does provide useful context within which to review the Agency's housing requirements which are a part of this Implementation Plan. In that regard, the Strategic Plan notes that: i) 1,900 of the City's households (21.3 percent of all households) are "large households" and that these households are more likely to rent than the City norm (p. 1); ii) "29 percent of all large households are overcrowded" (p. 2); iii) almost 80 percent of all lower income households "overpay for housing";' iv) "the city is currently pursuing a Human Services Center" (p. 4); v) the "city" (read "Agency ") "has 152 assisted housing units in three different locations." and it "is currently in the process of acquiring new properties on which to construct affordable housing (p. 7) (please see Section 6.4.1 of this Implementation Plan); vi) the City has a number of "affordable housing" programs including the "set aside" program for new construction discussed herein, an ownership assistance program, a program to increase the construction of "second units" on parcels improved with single family residences, a mobile home assistance program, and a housing rehabilitation program funded by the Agency (pp. 8 and 9). To the extent applicable, the housing units identified in Chart 2 -11 of the Strategic Plan are also identified in the housing tables included in this Implementation Plan. Based upon a review of the above, the Agency needs to include an adequate amount of large - family apartments in its affordable housing inventory. The Strategic Plan describes the need for a structure to accommodate the services identified in its "Needs Assessment" section. Note that Section 4.1.1 of this Implementation Plan describes the Human Services Center being financed by the Agency to accommodate these needs. In short, the Agency is taking an active part in assisting the City to address its "Special Needs Population" needs. The term "lower income" is not defined in the Strategic Plan; there is no indication that the term is used specifically as it is used in the CCRL and elsewhere in this Implementation Plan. D , I-V ,a ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 14 January 2005 01/11/05 TABLES PROGRAM AND EXPENDITURES' NEXUS TO BLIGHT ELIMINATION' PHYSICAL CONDITIONS ECONOMIC CONDITIONS INFRASTRUCTURE PROGRAMS& Deficient, Deteriorated or Older or Obsolescent Mixed and Incompatible Lots of Irregular Form, Prevalence of Economic Prevalence of Depreciated Values Inadequate Public EXPENDITURES Dilapidated Buildings Buildings Buildings and Land Uses Shape and Size Maladjustment and Impaired Investments Improvements High Street Corridor Moorpark Ave. Corridor Infrastructure ' Complies with CCRL Section 33490(a)(1)(A). 15 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 6.1 Compliance Requirements One of the fundamental goals of redevelopment in California is the production, improvement and preservation of the supply of housing affordable to very low -, low -, and moderate - income households. This goal is accomplished, in part, through the execution of four different, but interrelated requirements imposed on redevelopment agencies by the CCRL. These requirements are: • An agency must use at least 20 percent of its tax increment revenue to increase, improve and preserve the supply of extremely low -, very low -, lower -, and low- and moderate - income housing in the community (CCRL Section 33334.2); • An agency must replace within four years and in equal or greater number, very low -, lower -, low- and moderate - income housing units and bedrooms which are destroyed or removed as a result of a redevelopment project (the "replacement rule," CCRL Section 33413(a)); • An agency must ensure that a fixed percentage of all new or substantially rehabilitated dwelling units developed by the agency are affordable to very low -, low -, and moderate - income persons and families (the "inclusionary rule," CCRL Section 33413(b)(1)); and • An agency must ensure that a fixed percentage of all new and substantially rehabilitated dwelling units developed within the project area by public or private entities or persons other than the Agency are affordable to very low -, low -, and moderate - income persons (the "inclusionary rule," CCRL Section 33413(b)(2)). Each of these four requirements was explained in detail in the 1995 -99 and 1999 -04 Implementation Plans. For reference, these explanations have been included herein in Appendix "B." Additionally, Appendix B provides information on the definitions of "affordable" housing, descriptions of how long such housing must remain affordable, and discussion of how LMI fund monies may be legally spent, both inside and outside the Project Area. 6.2 Tabulations Showing Existing Replacement and Inclusionary Housing Obligations (FY 1999 -00 through FY 2003 -04) The information provided on Tables 6 through 10 presents an analysis of the Agency's compliance with CCRL affordable housing mandates through the end of FY 2003 -04. The information contained in these tables, in concert with the other parts of this Implementation Plan, ensure compliance with CCRL Sections 33490, 33413, 33334.2 or 33334.6, 33334.3, and 33334.4. The tables and discussion presented below and in subsequent sections of this Implementation Plan represent what is required by law regarding affordability, replacement, and inclusionary housing requirements established in the CCRL. It should be noted that replacement and inclusionary obligations are calculated and identified to the nearest tenth while units which count toward fulfillment of these obligations are, of course, counted in whole numbers. While this results in some rounding issues and complication, it most effectively enumerates the Agency's obligations without exacerbating these obligations due to rounding. Table 6: Columns (a) through (e) in Table 6 show that the Agency entered into agreements which resulted in the destruction or removal of 28 residential units in FY 2002 -03 and three units 1 January 2005 ZA00PIn Active\ Moorpark \005\2005- 20091PvFinalt.wpd 1 6 d-1/1 1105 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan in FY 2003 -04 for a total of 31 residential units (which included 44 bedrooms) which housed either very low- (20 units), lower- (seven units), or low- and moderate - income (four units) households. However, the Agency replaced these units in FY 2001 -02 and actually enforceably restricted an additional unit (see Columns (f) through (j), FY 2002 -03). The replacement units included 68 bedrooms. The Agency is reserving its one "surplus" replacement unit (see Column "m," "TOTALS" row) for the unit it anticipates will be removed from the housing stock in FY 2004 -05 (See Footnote 15, Table 6). In short, the Agency is ending the 1999 -04 Implementation Plan planning cycle with no "replacement" housing obligations. Table 7: As shown in Table 7, as of June 30, 2004, no affordable housing units had been developed or substantially rehabilitated inside the Project Area by the Agency. Table 8: As shown in Table 8, as of June 30, 2004, no affordable housing units had been developed or substantially rehabilitated outside the Project Area by the Agency. Table 9: Column 1 on Table 9 shows that the Agency has experienced little residential development in the Project Area in any fiscal year other than FY 2001 -02 when 281 units are shown as being developed.5 Of these, 62 were deed restricted; however, as described in Footnote 5 above and in footnote 10 on Table 9, only 31 of these 62 units have been included in this Table 9 which counts only inclusionary units. Columns 9a and 9b, "TOTALS" row show the Agency with a current inclusionary surplus of 3.2 low- and moderate - income units and a deficit of 18.5 very low- income units. Table 10 Table 10 is a summary table of the Agency's inclusionary obligations at the end of the 1999- 04 Implementation Plan period. This table recalculates the information provided on Table 9 and shows that the Agency is ending its latest implementation plan planning cycle with a deficit in its very low- income housing obligation of 19 units and a surplus in its low- and moderate - income housing obligation of three units. 5 See Footnote 10 in Table 9. In actuality, a total of 312 units were actually constructed (by Archstone Moorpark) and 62 units were deed restricted. However, 31 of these deed restricted units were used as replacement units (see Table 6); therefore, the table subtracts these 31 units from the 312 total to generate a total of 281 units identified in Column 1. This is a necessary adjustment since the number constructed (in this case 281) is used to calculate required "inclusionary" obligations which would have been artificially inflated were the full 312 units used as the basis for calculation. ZA00PIn Active\ Moorpark \005\2005.20091PvFinall.wpd I January 2005 H1/11105 TABLE 6 TOTAL DWELLING UNITS DESTROYED OR REMOVED BY THE AGENCY INSIDE THE PROJECT AREA INCLUDING AN INVENTORY OF REPLACEMENT UNITS PROVIDED' REDEVELOPMENT PLAN ADOPTION THROUGH JUNE '30, 2004 NO. OF UNITS DESTROYED NO. OF UNITS REHABILITATED, CUMULATIVE REMOVAUREPLACEMENT DIFFERENCE OR REMOVED AFFECTING... DEVELOPED, OR CONSTRUCTED"— (DEFICIT[ -]) /(SURPLUS[ +]) FISCAL a b c d e f 9 h i j k I m n YEAR VERY LOWER LOW- TOTAL UNITS TOTAL N0. BEDROOMS VERY LOWER LOW- TOTAL TOTAL NO. VERY LOW LOWER LOW -MOD TOTAL NO. LOW INCOME` MOD INCOME' DESTROYED OR REMOVED"-' DESTROYED LOW INCOME INCOME MOD INCOME UNITS PROVIDED BEDROOMS PROVIDED" INCOME (f - a + previous INCOME (g - b + previous INCOME (h - c + previous BEDROOMS 0 - e + previous OR REMOVED year balance) year balance year balance) year balance) BALANCE FORWARDZ 1999 -2000 2000 -01 2001 -02 2913 213 31 6513 29 2 65 2002 -03 2014 714 114 28 32'4 115 1 315 4 0 0 36 2003 -04 316 3 916 1 0 0 27 TOTALS 20 7 4 31 41 30 2 32 68 r 1 0 0 27 Complies with CCRL Section 33413(a), (c), (d)(1), and 33334.5. The agency shall require that the aggregate number of replacement units remain available at affordable housing costs to, and occupied by, persons and families of low -, moderate -, and very low- income households for the longest feasible time, but for not less than 55 years for rental units and 45 years for home ownership units, except as provided for in CCRL Section 33413(c)(1)(2). z Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 1999. ' As defined by Health & Safety Code Section 50105. 4 As defined by Health & Safety Code Section 50079.5. 8 As defined by Health & Safety Code Section 50093. ° Removed from low- or moderate - income housing market, as part of a redevelopment project. When units are planned for destruction or removal, locations for suitable replacement units must be identified (CCRL Section 33413.5). ' Replacement units must be provided within four years of removal or destruction (CCRL Section 33413(a)). ° Total units destroyed or removed housing persons and families of low or moderate income from the low- and moderate- income housing market as part of redevelopment project that is subject to a written agreement with the agency or where financial assistance has been provided by the agency (CCRL Section 33413(a)). B Within territorial jurisdiction of agency; must be an equal number of replacement units as those destroyed or removed provided within 4 years of removal (CCRL Section 33413(a)). 10 When units are destroyed or removed after September 1, 1989, 75 percent of the replacement units shall replace dwelling units available at affordable housing cost to persons in the same or lower income category (very low, low, or moderate) as the persons displaced from those destroyed or removed units; effective January 1, 2002, this requirement was increased to 100 percent (CCRL Section 33413(a)). " Reference CCRL Section 33413(c) for applicable covenants. Z Must be an equal or greater number of bedrooms as those removed or destroyed (CCRL Section 33413(f)). " Thirty -one (31) units were constructed as part of the Archstone Moorpark development (see Table 9) to replace the units removed for the Civic Center. 14 Thirty One units were removed for the New Civic Center. 5 One (1), three (3) bedroom unit (284 Charles Street) was constructed to replace the One (1), two (2) bedroom unit to be removed for the fire station (661 Moorpark Avenue, see Table 11). 6 One (1), three (3) bedroom low- income unit was removed at 213 E. Los Angeles Av., and two (2), four (4) and two (2) bedroom moderate income units were removed at 47 and 51 W. High Street. 18 rr TABLE 7 DWELLING UNITS DEVELOPED AND SUBSTANTIALLY REHABILITATED BY THE AGENCY INSIDE THE PROJECT AREA' REDEVELOPMENT PLAN ADOPTION THROUGH JUNE '30, 2004 TYPE OF CONSTRUCTION UNITS MADE AVAILABLE AT PROJECT AFFORDABLE HOUSING COST AREA STATUS TOTAL LOW - MODERATE' VERY LOWS ANNUAL DEFICIT ANNUAL SURPLUS CUMULATIVE DIFFERENCE"' 4 Sa 5b 6a 6b FISCAL 1 2 3 (IF 5a > 5b or 6a >6b) (IF 5b > 5a or 6b > 6a) (DEFICIT [ -)) /(SURPLUS [ +J) YEAR SUBSTANTIAL REHAB' REQUIRED TO REQUIRED TO ACTUAL REQUIRED TO ACTUAL 7a 7b 8a 8b 9a 9b NEW CONSTRUCTION TOTAL BE AT LEAST 30% OF BE NOT MORE THAN 50% of UNITS T BE NO LESS THAN T LESS OF UNITS MULTI- SINGLE FAMILY FAMILY COLUMN 3 , , COLUMN 4. RESTRICTED 4 , RESTRICTED LOW -MOD VERY LOW LOW -MOD VERY LOW LOW -MOD VERY LOW (5b - 5a) (6b - 6a) (5b - 5a) (6b - 6a) BALANCE FORWARD 1999 -2000 2000 -01 NO ACTIVITY 2001 -02 2002 -03 2003 -04 TOTALS Compliance with Sections 33413(b)(1), (c), (d)(1), and 33490(a)(2)(A)(ii). The agency shall require that the aggregate number of replacement units remain available at affordable housing costs to, and occupied by, persons and families of low -, moderate -, and very low- income households for the longest feasible time, but for not less than 55 years for rental units and 45 years for home ownership units, except as provided for in CCRL Section 33413(c)(1)(2). New and/or substantially rehabilitated units may be aggregated in one or more Project Areas, subsequent to findings pursuant to CCRL Section 33413(b)(2)(A)(v). 2 Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 1999. 3 Substantial Rehabilitation means rehabilitation, the value of which constitutes 25% of the after rehabilitation value of the dwelling, inclusive of the land (CCRL Section 33413 (b)(2)(iv)). On or after January 1, 2002, the inclusionary obligation applies to dwelling units that are substantially rehabilitated using agency assistance. Prior to January 1, 2002, the inclusionary obligation applied to substantially rehabilitated dwelling units with three or more units regardless of whether or not there was agency assistance, and to substantially rehabilitated, with agency assistance, single family dwelling units with one or two units (CCRL Section 33413 (b)(2)(iii)). ° As defined by Health & Safety Code Section 50093. 5 As defined by Health & Safety Code Section 50105. e Calculated on a cumulative year -to -year basis. See Table 16 for projection of LMI Fund expenditures (CCRL Sections 33413(b)(1) and (2) and 33334.2 and/or 33334.6). a In accordance with CCRL Section 33413(b)(1). 19 4s' 4;; TABLE 8 DWELLING UNITS DEVELOPED AND SUBSTANTIALLY REHABILITATED BY THE AGENCY OUTSIDE THE PROJECT AREA' REDEVELOPMENT PLAN ADOPTION THROUGH JUNE', 30, 2004 TYPE OF CONSTRUCTION UNITS MADE AVAILABLE AT PROJECT AFFORDABLE HOUSING COST AREA STATUS TOTAL LOW - MODERATE' VERY LOW' FISCAL ANNUAL DEFICIT ANNUAL SURPLUS CUMULATIVE DIFFERENCE" 1 2 3 4 Sa Sb 6a 6b (IF 5a > 5b or 6a >6b) (IF 5b > 5a or 6b > 6a) (DEFICIT 1 -1) /(SURPLUS [ +]) YEAR NEW SUBSTANTIAL REHAB' REQUIRED TO REQUIRED TO ACTUAL REQUIRED TO ACTUAL 7a 7b 8a 8b 9a 9b CONSTRUCTION TOTAL BE AT LEAST 30 %OF BE NOT MORE THAN 50% of UNITS BE NOT LES S THAN 50% OF UNITS MULTI- SINGLE FAMILY FAMILY COLUMN 3 e COLUMN 4 e RESTRICTED COLUMN 4 a RESTRICTED LOW -MOD VERY LOW LOW -MOD VERY LOW LOW -MOD VERY LOW (5b - 5a) (6b. 6a) (5b - 5a) (6b - 6a) BALANCE FORWARD 1999 -2000 2000 -01 NO ACTIVITY 2001 -02 2002 -03 2003 -04 TOTALS Compliance with Sections 33413(b)(2), (c), (d)(1), and 33490(a)(2)(A)(ii). The agency shall require that the aggregate number of replacement units remain available at affordable housing costs to, and occupied by, persons and families of low -, moderate -, and very low- income households for the longest feasible time, but for not less than 55 years for rental units and 45 years for home ownership units, except as provided for in CCRL Section 33413(c)(1)(2). New and /or substantially rehabilitated units may be aggregated in one or more Project Areas, subsequent to findings pursuant to CCRL Section 33413(b)(2)(A)(v). Agency must have made findings pursuant to CCRL Section 33334.2(g) to develop units outside the Project Area. The agency may cause, by agreement or regulation, to be available, at affordable housing cost, and occupied by, persons and families of low -, moderate -, or very low- income households, two units outside the Project Area for each unit that otherwise would have had to be available inside the Project Area (CCRL Section 33413(b)(2)(A)(ii). 2 Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 1999. ' Substantial Rehabilitation means rehabilitation, the value of which constitutes 25% of the after rehabilitation value of the dwelling, inclusive of the land (CCRL Section 33413 (b)(2)(iv)). On or after January 1, 2002, the inclusionary obligation applies to dwelling units that are substantially rehabilitated using agency assistance. Prior to January 1, 2002, the inclusionary obligation applied to substantially rehabilitated dwelling units with three or more units regardless of whether or not there was agency assistance, and to substantially rehabilitated, with agency assistance, single family dwelling units with one or two units (CCRL Section 33413 (b)(2)(iii)). 4 As defined by Health & Safety Code Section 50093. 5 As defined by Health & Safety Code Section 50105. e Calculated on a cumulative year -to -year basis. ' See Table 16 for projection of LMI Fund expenditures (CCRL Sections 33413(b)(1) and (2) and 33334.2 and/or 33334.6). e In accordance with CCRL Section 33413(b)(1). KfJ TABLE 9 DWELLING UNITS DEVELOPED AND SUBSTANTIALLY REHABILITATED BY PUBLIC OR PRIVATE, ENTITIES OR PERSONS OTHER THAN THE AGENCY INSIDE THE PROJECT AREA'_ REDEVELOPMENT PLAN ADOPTION THROUGH JUNE 30, 2004 TYPE OF CONSTRUCTION UNITS MADE AVAILABLE AT PROJECT AFFORDABLE HOUSING COST AREA STATUS TOTAL LOW - MODERATE' VERY LOW' FISCAL ANNUAL DEFICIT ANNUAL SURPLUS CUMULATIVE DIFFERENCE" YEAR 1 2 3 4 5a Sb 6a 6b (IF 5a > 5b or 6a >6b) (IF 5b > 5a or 6b > 6a) (DEFICIT [ -]) /(SURPLUS [ +J) NEW SUBSTANTIAL REHAB' REQUIRED TO REQUIRED TO ACTUAL REOUIRED TO ACTUAL 7a 7b 8a 8b 9a 9b CONSTRUCTION TOTAL BE AT LEAST 15 % OF BE NOT MORE THAN 60 % of UNITS BE NOT LESS THAN 40 % OF UNITS MULTI- SINGLE FAMILY FAMILY COLUMN 3 e COLUMN 4 e RESTRICTED COLUMN 4 a RESTRICTED LOW -MOD VERY LOW LOW -MOD VERY LOW LOW -MOD VERY LOW (5b - 5a) (6b - 6a) (5b - 5a) (6b - 6a) BALANCE FORWARD2 16 0 7 23 3.5 2.1 0 1.4 0 (2.1) (1.4) 1999 -2000 (2.1) (1.4) 2000 -01 39 0.5 0.3 0.2 -0.3 -0.2 (2.3) (1.6) 2001 -02 2819.10 19 282 42.3 25.4 31910 16.9 -16.9 +5.6 3.3 (18.5) 2002 -03 3.3 (18.5) 2003 -04 1" 1 0.2 0.1 0.1 -0.1 -0.1 3.2 (18.5) TOTALS 301 0 8 t 309 46.4 27.8 31 18;5 0 100 3.2 (1$.5) Compliance with Section 33413(b)(2), (c), and (d)(1). The agency shall require that the aggregate number of replacement units remain available at affordable housing costs to, and occupied by, persons and families of low -, moderate -, and very low- income households for the longest feasible time, but for not less than 55 years for rental units and 45 years for home ownership units, except as provided for in CCRL Section 33413(c)(1)(2). New and/or substantially rehabilitated units may be aggregated in one or more Project Areas, subsequent to findings pursuant to CCRL Section 33413(b)(2)(A)(v). z Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 1999. Reference: 1999 -2004 Implementation Plan and the 1999 -2004 Mid -Term Update. ' Substantial Rehabilitation means rehabilitation, the value of which constitutes 25% of the after rehabilitation value of the dwelling, inclusive of the land (CCRL Section 33413 (b)(2)(iv)). On or after January 1, 2002, the inclusionary obligation applies to dwelling units that are substantially rehabilitated using agency assistance. Prior to January 1, 2002, the inclusionary obligation applied to substantially rehabilitated dwelling units with three or more units regardless of whether or not there was agency assistance, and to substantially rehabilitated, with agency assistance, single family dwelling units with one or two units (CCRL Section 33413 (b)(2)(iii)). ° As defined by Health & Safety Code Section 50093, 5 As defined by Health & Safety Code Section 50105. e Calculated on a cumulative year -to -year basis. See Table 16 for projection of LMI Fund expenditures (CCRL Sections 33413(b)(1) and (2) and 33334.2 and/or 33334.6). e In accordance with CCRL Section 33413(b)(1). 9 Source: Agency staff housing production information for FY 2001 -2002 and FY 2001 -02, as referenced in the 1999 -2004 Mid -Term Update. 0 Archstone Moorpark project completed in FY 2001 -02: 312 total units of which 62 were deed restricted affordable. Thirty -five (31) of the 62 units were earmarked to replace housing units (see Table 6) removed by the Agency and therefore are not counted as part of the total listed in Column 1. " One (1) market rate unit constructed as part of the Moondance Project. C, P 21 TABLE 10 SUMMARY OF DWELLING UNITS DEVELOPED AND SUBSTANTIALLY REHABILITATED BY THE AGENCY AND OTHERS INCLUDING AN INVENTORY OF THE AGENCY'S INCLUSIONARY UNIT OBLIGATION' REDEVELOPMENT PLAN ADOPTION THROUGH JUNE 30, 2004 FISCAL PRICE RESTRICTED (NEW CONST3 AND SUB REHAB') PRICE RESTRICTED (PURCHASE/ ACQUISITION OF EXISTING UNITS)' NEW CONSTRUCTION' SUBSTANTIAL REHABILITATION'-' REHABED BOND FINANCE OTHER CUMULATIVE INCLUSIONARY UNITS EARNED/OWED [+V[-I' YEAR D LOW-MOD" VERY LOW" LOW-MOD VERY LOW ILOW-MOD — VERY LOW 3a* 3b" 4a* 4b** 5 6 7 1a* 1b" 1C* ld" 2a* 2b" 2c* 2d" 8a',` I 8b"" I 8c'," I 8d — BALANCE FORWARD 2 0 0 0 0 0 0 0 0 16 0 7 0 0 0 0 (2.1) 1 0.0 (1.4) 0.0 1999-2000 (2.1)1 0.0 (1.4) 0.0 2000-01 1 3 (2.3) 0.0 (1.6) 0.0 2001-02 31 281 1 3.3 0.0 (18.5), 0.0, 2002-03 3.3 0.0 (18.5)1 0.0 2003-04 3.2 0-0. (18.5)1 0.0 TOTALS 31 0 -_ . 0 0 0 1 0 1 0 173011-1 0 1 8 0 0 0 0 3. 21 0.0 (18.5)1 0,0 ADJUSTMENTS CALCULATION TO TRANSFER CREDITS BETWEEN PROJECT AREA AND OUTSIDE PROJECT AREA (IF NEEDED)16 - - - SUBSTITUTE SURPLUS VERY LOW FOR LOW-MOD (IF NEEDED) - - - TOTAL ADJUSTED INCLUSIONARY UNITS DEFICIT/SURPLUS][ 3.2 0.0 (18,.5) 0.0, Inside the Project Area. Outside the Project Area. Complies with CCRL Sections 33334.2(a), 33490(a)(2)(A). 2 Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 1999. ' Pursuant to CCRL Sections 33413(b)(1), (2), and 33413(c). 4 Substantial Rehabilitation as defined in CCRL Section 33413(b)(2)(A)(iv). After 1/1/02 inclusionary obligation applies to substantially rehabilitated units using agency assistance. Prior to 1/11/02, inclusionary obligation applied to substantially rehabilitated structures: i) with one or two units using agency assistance; and, ii) with 3 or more units regardless of status of agency assistance (CCRL Section 33413 (b)(2)(iii)). Not than more 50% of the units made available, pursuant to CCRL Sections 33413(b)(1) and (2)(A), may be assisted through the purchase or acquisition of long-term affordability covenants pursuant to CCRL Section 33413(b)(2)(B); therefore, the amounts entered in Column 2 cannot be more than 50% of the combined totals of Columns 1 and 2. The sum of Columns 3a and 3b equal the sum of Column I from Tables 7, 8, and 9 for each fiscal year. The sum of Columns 4a and 4b equal the sum of Column 2 from Tables 7, 8, and 9 for each fiscal year. Does not include units that are defined as substantially rehabilitated, pursuant to CCRL Sections 33413(b)(2)(A)(iii) and (iv). Units included in columns 1 and 2 count for inclusionary credits, pursuant to CCRL Section 33413(b)(1) and (2). Columns 3 and 4 represent the total number of units constructed or substantially rehabilitated. See Tables 7, 8, and 9. Units included in Columns 5 through 8 do not quality for inclusionary credit. The sum of Columns I a and 1 b equal the sum of Column 5b from Tables 7, 8, and 9 for each fiscal year. The sum of Columns 1 c and I d equal the sum of Column 6b from Tables 7, 8, and 9 for each fiscal year. Equals the sum of Columns 1 a and 2a minus the sum of Column 5a from Tables 7 and 9 for each fiscal year. Calculated on a cumulative year-to-year basis. Equals the sum of Columns 1 b and 2b minus the sum of Column 6a from Tables 7 and 9 for each fiscal year. Calculated on a cumulative year-to-year basis. Equals the sum of Columns 1 c and 2c minus the sum of Column 5a from Table 8 for each fiscal year. Calculated on a cumulative year-to-year basis. '5 Equals the sum of Columns 1 d and 2d minus the sum of Column 6a from Table 8 for each fiscal year. Calculated on a cumulative year-to-year basis. The agency may cause, by agreement or regulation, to be available, at affordable housing cost, and occupied by, persons and families of low-, moderate-, or very low-income households, two units outside the Project Area for each unit that otherwise would have had to be available inside the Project Area (CCRL Section 33413(b)(2)(A)(ii)). CA) �A 22 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 6.3 Affordable Housing Goal and Objectives The Agency's housing goal and objectives have been identified in Section 3 of the Implementation Plan and are copied here for the convenience of the reader and to provide for a complete housing compliance plan. GOAL No. IV: INCREASE, IMPROVE, AND PRESERVE THE SUPPLY OF VERY LOW -, LOW -, AND MODERATE - INCOME HOUSING OBJECTIVES: IVA . Promote and participate in public /private partnerships with non - profit and for profit developers and /or property owners to rehabilitate existing rental units for very low - and low- income households. IV.2 Develop and implement owner - occupied, revolving loan program(s) for low and moderate income households. IV.3. Work with property owners and the development community to identify in fill parcels and to develop new housing units for very low -, low -, and moderate - income households on these parcels. IV.4. Work with the City to require new housing developments outside of the Project Area to contribute financing and/or inclusionary units intended for low- and moderate - income households. IV.5. Begin redevelopment of Walnut Canyon residential area north of Casey Road. 6.4 Projected Agency LMI Fund Programs and Related Expenditures (2005 to 2009) As described above, the Agency has participated in an extensive effort to establish a set of projects and programs to be implemented during the planning cycle of the Implementation Plan which will focus on the Downtown Area. In addition to generating the non - housing programs and projects identified above in Section 4, the Agency has identified the following programs which it will seek to implement over the planning cycle of the Implementation Plan. As stated in Section 4.1, it should be noted that discussion of projected costs set forth below are reflective more of total anticipated Agency expenditures rather than any specific amount which may be available for any specific transaction into which the Agency might enter with a private party to help implement the project. 6.4.1 Housing Projects and Programs in the Downtown Area Overall, the Agency intends to focus primarily on land acquisition activities in the Downtown Area during the next five years. It is impossible at this time to confirm where all the land will be purchased; since land acquisition, used for residential purposes, depends upon a willing seller. The Agency is actively pursuing land acquisition activities as follows: i) specifically on two adjacent sites; and ii) generally as appropriate residentially zoned land becomes available in the Downtown Area as described below. One of the specific sites is approximately one acre in size and will eventually comprise a half block located at the southeast corner of Everett Street and Moorpark Avenue. The Agency currently owns all but one parcel of this site and is seeking acquisition of this parcel; however, without the power of eminent domain, the Agency cannot provide assurances regarding the date January 2005 ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 23 01/11/05 Moorpark Redevelopment Agency 2005-2009 Implementation Plan of this acquisition. To further its acquisition and development goals for the site and to make it a developable parcel, the Agency has submitted a request for a $500,000 CalHome Grant (offered through the State Housing and Community Development Department). Upon complete acquisition, the Agency will offer the site to a housing developer with the selection criteria to include a significant number of affordable units. Agency staff have estimated that the developer should be selected during the current fiscal year and the project completed and occupied by the end of FY 2006 -07 and has estimated that the Agency should reserve $1 million in FY 2005 -06 for the Agency's participation in this project. The Agency intends to use successful implementation of the development at the southeast corner of Everett Street and Moorpark Avenue as a "model" for land acquisition and assembly activities on other appropriate sites in the Downtown Area. Staff has set aside $500,000 in each of FY 2006 -07 and FY 2007 -08 and $1 million in FY 2008 -09 to implement this program. Agency staff anticipates that the development program for the Everett Street/Moorpark Avenue site will be replicated on other sites in the Downtown Area as they become available. Projected costs include approximately $1 million for land acquisition, site clearance, and possible developer assistance (if needed) to construct and operate affordable housing. It is anticipated that these funds would be expended in FY 2006 -07 and FY 2007 -08. 6.4.2 First Time Homebuyer Program -- Project Area Wide The City has adopted its "Inclusionary Housing Program" which sets forth an aggressive inclusionary affordable housing program requiring each developer of market rate housing in the Project Area to income restrict at least 15 percent of units (ten percent of units built outside the Project Area), for "the life of the unit" for very low and low income households. Income restrictions which comply with provisions of CCRL Section 33413 (i.e., which allow the Agency to "count" the restricted units against its replacement or inclusionary requirements) are recorded against each of these price restricted units. 6.5 Tabulations Showing Projected Replacement and Inclusionary Housing Obligations (FY 2004 -05 through FY 2008 -09) Tables 11 through 15 present an analysis of the Agency's housing assistance obligations projected to occur within the next five years. The information contained in these tables, in concert with the other parts of this Implementation Plan, ensure compliance with CCRL Sections 33490, 33413, 33334.2 or 33334.6, 33334.3, and 33334.4. The tables and discussion presented below and in subsequent sections of this Implementation Plan represent what is required by law regarding affordability, replacement, and inclusionary requirements established in the CCRL. It should be noted that replacement and inclusionary obligations are calculated and identified to the nearest tenth while units which count toward fulfillment of these obligations are, of course, counted in whole numbers. While this results in some rounding issues and complication, it most effectively enumerates the Agency's obligations without exacerbating these obligations due to rounding. Table 11: Table 11 reflects the one housing unit which was discussed under Table 6 above which the Agency anticipates will be removed in FY 2004 -05. A review of the "TOTALS" row, Columns (k) through (n) indicates that the Agency is projected to have no "replacement" obligations at the end of the current planning cycle. January 2005 Z: \00PIn Active\ Moorpark \005\2005- 20091PvFinalt.wpd 2'' ,I d-1/1 1/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan Table 12 As shown in Table 12, the Agency is projecting that it will not develop or substantially rehabilitate any housing units inside the Project Area. Table 13 As shown in Table 13, the Agency is projecting that it will not develop or substantially rehabilitate any housing units outside the Project Area. Table 14 Table 14 reflects the increased interest in the private development market for housing construction within the Project Area. At the end of the planning cycle of the Implementation Plan, the Project Area is projected to have a total of 2,169 new constructed or substantially rehabilitated residential units of which fully 1,860 are projected to have been constructed during current planning cycle. However, enforcement of the First Time Homebuyer program identified in Section 6.4.2 above will ensure that at least 15 percent of all these 1,860 units will be income restricted so as to comply with the requirements of CCRL Section 33413; therefore, Table 14 projects that 304 new income restricted units will be produced during the term of the Implementation Plans The Table shows a surplus of 53.8 low- and moderate - income housing units and a deficit of 44.1 very low- income housing units at the end of FY 2008 -09. Table 15 Table 15 summarizes information provided in Tables 11 through 14 and adds information on units constructed outside the Project Area which are enforceably restricted. The Agency's First Time Homebuyer Program calls for the enforceable restriction of at least 15 percent of all residential units constructed outside the Project Area as well as inside.' The Agency is projecting that it will be able to enforceably restrict 62 units in FY 2005 -06 (37 low- and moderate - income units and 25 very low- income units) and 45 units in FY 2006 -07 (27 low- and moderate - income units and 18 very low- income units) outside the Project Area. In total, all enforceably restricted units outside the Project Area will equal 107 —of which 64 will be low- and moderate - income units and 43 will be very low- income units (as shown in the "TOTALS" row in Columns (8a) through (8d). State law allows the Agency to "count" half of all enforceably restricted units provided outside a redevelopment project area against its inclusionary deficit; therefore, Table 15 shows an "Adjustments" calculation. Since the Agency needs no additional low- and moderate - income housing units, the 64 units enforceably restricted outside the Project Area are simply maintained in a "bank" to be applied against future deficits if necessary. However, 42 of the 43 very low- income units are divided in half and the result (21 units) are applied to the Agency's very low- income deficit of 44.1 inside the Project Area to reduce it to 23.1 units. The remaining one unit is carried over in the "bank" for future use. 6 Agency projects it will enforceably restrict more than the minimum 15 percent of these 1,860 units. It should be noted that the Agency incurs no inclusionary obligation on units constructed outside the Project Area. "n ,,4 January 2005 Z: \00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 25 H- 1/11/05 Z abr r> N TABLE 11 TOTAL DWELLING UNITS PROJECTED TO BE DESTROYED OR REMOVED BY THE AGENCY INSIDE THE PROJECT AREA INCLUDING AN INVENTORY OF REPLACEMENT UNITS PROVIDED' REDEVELOPMENT PLAN ADOPTION THROUGH JUNE 30, 2009 NO. OF UNITS DESTROYED NO. OF UNITS REHABILITATED, CUMULATIVE REMOVAL/REPLACEMENT DIFFERENCE OR REMOVED AFFECTING DEVELOPED, OR CONSTRUCTED"01 (DEFICIT[ -]) /(SURPLUS[ +]) FISCAL a b C d e f 9 h i j k I m n YEAR VERY LOWER LOW- TOTAL UNITS TOTAL NO. BEDROOMS VERY LOWER LOW- TOTAL TOTAL NO. VERY LOW LOWER LOW -MOD TOTAL NO. LOW INCOME' INCOME' MOD INCOMES DESTROYED OR REMOVED4'A DESTROYED LOW INCOME INCOME MOD INCOME UNITS PROVIDED BEDROOMS PROVIDED" INCOME (t - a + previous INCOME (g - b + previous INCOME (h - c + previous BEDROOMS " Q - e + previous OR REMOVED year balance) year balance) year balance) year balance) BALANCE ' FORWARD 7 4 31 41 30 2 32 68 1 0 0 27 2004 -05 113 1 313 0 0 0 24 2005 -06 0 0 0 24 2006 -07 -2414 0 0 0 0 2007 -08 0 0 0 0 2008 -09 0 0 0 0 TOTALS 21 7 4 32T 44 30 2 3 44 0 0 0 0 Complies with CCRL Section 33413(a), (c), (d)(1), and 33334.5. The agency shall require that the aggregate number of replacement units remain available at affordable housing costs to, and occupied by, very low- income households, and persons and families of low- and moderate - income, and for the longest feasible time, but for not less than 55 years for rental units and 45 years for home ownership units, except as provided for in CCRL Section 33413(c)(1)(2). z Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 2004. 3 As defined by Health & Safety Code Section 50105. 4 As defined by Health & Safety Code Section 50079.5. s As defined by Health & Safety Code Section 50093. e Removed from low- or moderate - income housing market, as part of a redevelopment project. When units are planned for destruction or removal, locations for suitable replacement units must be identified (CCRL Section 33413.5). ' Replacement units must be provided within four years of removal or destruction (CCRL Section 33413(a)). e Total units destroyed or removed housing persons and families of low or moderate income from the low- and moderate - income housing market as part of redevelopment project that is subject to a written agreement with the agency or where financial assistance has been provided by the agency (CCRL Section 33413(a)). 9 Within territorial jurisdiction of agency; must be an equal number of replacement units as those destroyed or removed provided within 4 years of removal (CCRL Section 33413(a)). 10 When destroyed units are or removed after September 1, 1989, 75 percent of the replacement units shall replace dwelling units available at affordable housing cost to persons in the same or lower income category (very low, low, or moderate) as the persons displaced from those destroyed or removed units; effective January 1, 2002, this requirement was increased to 100 Section percent (CCRL 33413(a)). " Reference CCRL Section 33413(c) for applicable covenants. 'Z Must be an equal or greater number of bedrooms as those removed or destroyed (CCRL Section 33413(f)). " One (1), three (3) bedroom very low- income unit projected to be destroyed located at 661 Moorpark Avenue. 0 Per CCRL Section 33413(a), replacement units must be provided within four years of units destroyed or removed; therefore, the replacement unit credit from FY 2001 -02 cannot be carried forward past FY 2006 -07. 26 a. b� TABLE 12 DWELLING UNITS PROJECTED TO BE DEVELOPED AND SUBSTANTIALLY REHABILITATED BY THE AGENCY INSIDE THE PROJECT AREA' REDEVELOPMENT PLAN ADOPTION THROUGH JUNE, 30, 2009 TYPE OF CONSTRUCTION UNITS MADE AVAILABLE AT PROJECT AFFORDABLE HOUSING COST AREA STATUS TOTAL LOW - MODERATE' VERY LOW' ANNUAL DEFICIT ANNUAL SURPLUS CUMULATIVE DIFFERENCE°' 4 Sa 5b 6a 6b FISCAL t 2 3 (IF 5a > 5b or 6a >6b) (IF 5b > 5a or 6b > 6a) (DEFICIT [-]) /(SURPLUS ] +]) YEAR SUBSTANTIAL REHAB' REQUIRED TO REQUIRED TO ACTUAL REQUIRED TO ACTUAL 7a 7b Ba 8b 9a 9b NEW CONSTRUCTION TOTAL BE AT LEAST 30% OF BE NOT MORE THAN 50% of UNITS BE NOT LESS THAN 50% OF UNITS MULTI- SINGLE FAMILY FAMILY e COLUMN 3' COLUMN 4 e RESTRICTED COLUMN 4 a RESTRICTED LOW -MOD (5b - 5a) VERY LOW (6b - 6a) LOW -MOD (5b - 5a) VERY LOW (6b - 6a) LOW -MOD VERY LOW BALANCE FORWARD 2004 -05 2005 -06 NO ACTIVITY 2006 -07 2007 -08 2008 -09 TOTALS Compliance with Sections 33413(b)(1), (c), (d)(1), and 33490(a)(2)(A)(ii). The agency shall require that the aggregate number of replacement units remain available at affordable housing costs to, and occupied by, very low- income households and persons and families of low- and moderate - income, and for the longest feasible time, but for not less than 55 years for rental units and 45 years for home ownership units, except as provided for in CCRL Section 33413(c)(1)(2). New and/or substantially rehabilitated units may be aggregated in one or more Project Areas, subsequent to findings pursuant to CCRL Section 33413(b)(2)(A)(v). z Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 2004. 3 Substantial Rehabilitation means rehabilitation, the value of which constitutes 25% of the after rehabilitation value of the dwelling, inclusive of the land (CCRL Section 33413 (b)(2)(iv)). On or after January 1, 2002, the inclusionary obligation applies to dwelling units that are substantially rehabilitated using agency assistance. Prior to January 1, 2002, the inclusionary obligation applied to substantially rehabilitated dwelling units with three or more units regardless of whether or not there was agency assistance, and to substantially rehabilitated, with agency assistance, single family dwelling units with one or two units (CCRL Section 33413 (b)(2)(iii)). Effective January 1, 2006, the term 'substantial rehabilitation" as used in CCRL section 33413(b) will be changed to simply rehabilitated. ` As defined by Health & Safety Code Section 50093. e As defined by Health & Safety Code Section 50105. e Calculated on a cumulative year -to -year basis. ' See Table 16 for projection of LMI Fund expenditures (CCRL Sections 33413(b)(1) and (2) and 33334.2 and/or 33334.6). ' In accordance with CCRL Section 33413(b)(1). 27 a- TABLE 13 DWELLING UNITS PROJECTED TO BE DEVELOPED AND SUBSTANTIALLY REHABILITATED BY THE AGENCY OUTSIDE THE PROJECT AREA' REDEVELOPMENT PLAN ADOPTION THROUGH JUNE 30, 2009 TYPE OF CONSTRUCTION UNITS MADE AVAILABLE AT PROJECT AFFORDABLE HOUSING COST AREA STATUS TOTAL LOW - MODERATE' VERY LOW' ANNUAL DEFICIT ANNUAL SURPLUS CUMULATIVE DIFFERENCE'' 4 Sa Sb 6a 6b FISCAL 1 2 3 (IF 5a > 5b or 6a >6b) (IF 5b > Sa or 6b > 6a) (DEFICIT [- [)/(SURPLUS [ +]) YEAR SUBSTANTIAL REHAB' REQUIRED TO REQUIRED TO ACTUAL REQUIRED TO ACTUAL 7a 7b 8a 8b 9a 9b NEW CONSTRUCTION TOTAL BE AT LEAST 30% OF BE NOT MORE THAN 50% of UNITS BE NOT LESS THAN 50% OF MULTI- SINGLE FAMILY FAMILY COLUMN 3 a RESTR COLUMN 4 RESTRICTED COLUMN 4 RESTRICTED LOW -MOD VERY LOW LOW -MOD VERY LOW LOW -MOD VERY LOW (5b - 5a) (6b - 6a) (5b - 5a) (6b - 6a) BALANCE FORWARD' 2004 -05 2005 -06 NO ACTIVITY 2006 -07 2007 -08 2008 -09 TOTALS Compliance with Sections 33413(b)(2), (c), (d)(1), and 33490(a)(2)(A)(ii). The agency shall require that the aggregate number of replacement units remain available at affordable housing costs to, and occupied by, very low- income households and persons and families of low- and moderate - income, and for the longest feasible time, but for not less than 55 years for rental units and 45 years for home ownership units, except as provided for in CCRL Section 33413(c)(1)(2). New and/or substantially rehabilitated units may be aggregated in one or more Project Areas, subsequent to findings pursuant to CCRL Section 33413(b)(2)(A)(v). Agency must have made findings pursuant to CCRL Section 33334.2(g) to develop units outside the Project Area. The agency may cause, by agreement or regulation, to be available, at affordable housing cost, and occupied by, persons and families of low -, moderate -, or very low - income households, two units outside the Project Area for each unit that otherwise would have had to be available inside the Project Area (CCRL Section 33413(b)(2)(A)(ii). ' Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 2004. ' Substantial Rehabilitation means rehabilitation, the value of which constitutes 25% of the after rehabilitation value of the dwelling, inclusive of the land (CCRL Section 33413 (b)(2)(iv)). On or after January 1, 2002, the inclusionary obligation applies to dwelling units that are substantially rehabilitated using agency assistance. Prior to January 1, 2002, the inclusionary obligation applied to substantially rehabilitated dwelling units with three or more units regardless of whether or not there was agency assistance, and to substantially rehabilitated, with agency assistance, single family dwelling units with one or two units (CCRL Section 33413 (b)(2)(iii)). Effective January 1, 2006, the "substantial term rehabilitation" as used in CCRL section 33413(b) will be changed to simply rehabilitated. ` As defined by Health & Safety Code Section 50093. ' As defined by Health & Safety Code Section 50105. e Calculated on a cumulative year -to -year basis. See Table 16 for projection of LMI Fund expenditures (CCRL Sections 33413(b)(1) and (2) and 33334.2 and/or 33334.6). ' In accordance with CCRL Section 33413(b)(1). 28 b TABLE 14 DWELLING UNITS PROJECTED TO BE DEVELOPED AND SUBSTANTIALLY REHABILITATED BY PUBLIC OR PRIVATE ENTITIES OR PERSONS OTHER THAN THE AGENCY INSIDE THE PROJECT AREA' REDEVELOPMENT PLAN ADOPTION THROUGH JUNE 30, 2009 TYPE OF CONSTRUCTION UNITS MADE AVAILABLE AT PROJECT AFFORDABLE HOUSING COST AREA STATUS TOTAL LOW - MODERATE' VERY LOW' FISCAL ANNUAL DEFICIT ANNUAL SURPLUS CUMULATIVE DIFFERENCE" t 2 3 4 5a 5b 6a 6b (IF 5a > 5b or 6a >6b) (IF 5b > 5a or 6b > 6a) (DEFICIT [- ])/(SURPLUS [�J) YEAR NEW SUBSTANTIAL REHAB' REQUIRED TO REQUIRED TO ACTUAL REQUIRED TO ACTUAL 7a 7b 8a 8b 9a 9b CONSTRUCTION TOTAL BE AT LEAST 15 %OF BE NOT MORE THAN UNITS BE NOT LESS THAN 40% OF UNITS MULTI. SINGLE FAMILY FAMILY COLUMN 3 a COLUMN 4 a RESTRICTED COLUMN 4 a RESTRICTED LOW -MOD 5a) VERY LOW LOW -MOD VERY LOW LOW -MOD VERY LOW (5b - (6b - 6a) (5b - 5a) (6b - 6a) BALANCE FORWARD' 301 0 8 309 46.4 27.8 31 18.5 0 3.2 (18.5) 2004 -05 2979 297 44.6 26.7 1559 17.8 429 128.3 24.2 131.5 5.6 2005 -06 52110 521 78.2 46.9 5t0 31.3 410 -41.9 -27.3 89.6 (21.6) 2006 -07 392" 392 58.8 35.3 23.5 -35.3 -23.5 54.3 (45.1) 2007 -08 32512 325 48.8 29.3 2912 19.5 2012 -0.3 0.5 54.0 (44.6) 2008 -09 32512 325 48.8 29.3 2912 19.5 2012 -0.3 0.5 53.8 (44.1) TOTALS 2,161 0 8 2,169 325.4 195..2 249 130.1 86 1 53.8 (44,1) Compliance with Section 33413(b)(2), (c), and (d)(1). The agency shall require that the aggregate number of replacement units remain available at affordable housing costs to, and occupied by, very low- income households and persons and families of low- and moderate - income, and for the longest feasible time, but for not less than 55 years for rental units and 45 years for home ownership units, except as provided for in CCRL Section 33413(c)(1)(2). New and/or substantially rehabilitated units may be aggregated in one or more Project Areas, subsequent to findings pursuant to CCRL Section 33413(b)(2)(A)(v). 2 Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 2004. ' Substantial Rehabilitation means rehabilitation, the value of which constitutes 25% of the after rehabilitation value of the dwelling, inclusive of the land (CCRL Section 33413 (b)(2)(iv)). On or after January 1, 2002, the inclusionary obligation applies to dwelling units that are substantially rehabilitated using agency assistance. Prior to January 1, 2002, the inclusionary obligation applied to substantially rehabilitated dwelling units with three or more units regardless of whether or not there was agency assistance, and to substantially rehabilitated, with agency assistance, single family dwelling units with one or two units (CCRL Section 33413 (b)(2)(iii)). Effective January 1, 2006, the "substantial term rehabilitation" as used in CCRL section 33413(b) will be changed to simply rehabilitated. 4 As defined by Health & Safety Code Section 50093. ° As defined by Health & Safety Code Section 50105. ° Calculated on a cumulative year -to -year basis. ' See Table 16 for projection of LMI Fund expenditures (CCRL Sections 33413(b)(1) and (2) and 33334.2 and/or 33334.6). ° In accordance with CCRL Section 33413(b)(1). ° Total of 297 units projected to be developed in FY 2004 -05, of which 155 units and 42 units are projected to be deed restricted low- income and very-low income, respectively (Permit Nos. RPD 98 -01, TR 5133; RPD 99 -01, TR 5181; RPD 01 -01, TR5307; and RPD 02 -02 - see City Residential Quarterly Status Report for July 2004). ° Total of 521 units projected to be developed in FY 2005 -06, of which 5 units and 4 units are projected be deed restricted low- income and very-low income, respectively (Permit Nos. RPD 96 -01, TR 5053, RPD 99 -04, TR 5204, RPD 98 -07, TR 5161; SP 04 -01; RPD 98 -02, TR 5130; and 13 -R - see City Residential Quarterly Status Report for July 2004). " Total of 392 units projected to be developed in FY 2006 -07 (Permit Nos. RPD 96 -01, TR 5053, RPD 99 -04, TR 5204; and SP 04 -01 - see City Residential Quarterly Status Report for July 2004) . z Total of 650 units projected to be developed during FY 2007 -08 and FY 2008 -09, based on the preceding five -year average, of which 85 units and 40 units are projected to be deed restricted low- income and very-low income, respectively. C o. ;sy r� TABLE 15 SUMMARY OF DWELLING UNITS PROJECTED TO BE DEVELOPED AND SUBSTANTIALLY REHABILITATED BY THE AGENCY AND OTHERS INCLUDING AN INVENTORY OF THE AGENCY'S INCLUSIONARY' UNIT OBLIGATIONI REDEVELOPMENT PLAN THROUGH JUNE 30, 2009 FISCAL PRICE RESTRICTED (NEW CONST3 AND SUB REHAB') PRICE RESTRICTED (PURCHASE/ ACQUISITION OF EXISTING UNITS)5 NEW CONSTRUCTION' SUBSTANTIAL REHABILITATION ° REHABED BOND FINANCE OTHER CUMULATIVE INCLUSIONARY UNITS EARNED /OWED [ +y[ -)° YEAR D LOW -MOD10 VERY LOW" LOW -MOD VERY LOW LOW -MOD VERY LOW 3a" 3b '* 4a" 4b" 5 6 7 1a" 1b " 1c" td " 2a" 2b "" 2c" 2d " 8a ",1' 8b ",1' 8C ""° 8d' "1° BALANCE FORWARD 2 31 0 0 0 0 0 0 0 301 0 8 0 0 0 0 (0.4) 0.0 (18.5) 0.0 2004 -05 155 42 297 131.5 0.0 5.6 0.0 2005 -06 5 3717 4 25" 521 1 62" 89.6 37.0 (21.6) 25.0 2006 -07 2717 18" 392 45" 54.3 64.0 (45.1) 43.0 2007 -08 29 20 325 54.0 64.0 (44.6) 43.0 2008 -09 29 20 325 53.8 64.0 (44.1) 43.0 TOTALS 249 64 86 43 " 0 0 " 0 1 0 2,161 107 53.8 64.0 (44.1) 43.0 ADJUSTMENTS TRANSFERABLE INCLUSIONARY CREDIT (IF NEEDED)' 21.0 (42.0) SUBSTITUTE SURPLUS VERY LOW FOR LOW -MOD (IF NEEDED) TOTAL ADJUSTED INCLUSIONARY UNITS DEFICIT /SURPLUS 53.8 64.0 (23.1) 1.0 Inside the Project Area. " Outside the Project Area. Compliance with CCRL Sections 33334.2(a), 33490(a)(2)(A). Includes agency assisted units inside and outside the Project Area and all non - agency assisted units inside the Project Area. 2 Total from Redevelopment Plan adoption or January 1, 1976 (CCRL Section 33413(d)(1)), whichever is later, through June 30, 2004. 3 Pursuant to CCRL Sections 33413(b)(1), (2), and 33413(c). ° Substantial Rehabilitation means rehabilitation, the value of which constitutes 25% of the after rehabilitation value of the dwelling, inclusive of the land (CCRL Section 33413 (b)(2)(iv)). On or after January 1, 2002, the inclusionary obligation applies to dwelling units that are substantially rehabilitated using agency assistance. Prior to January 1, 2002, the inclusionary obligation applied to substantially rehabilitated dwelling units with three or more units regardless of whether or not there was agency assistance, and to substantially rehabilitated, with agency assistance, single family dwelling units with one or two units (CCRL Section 33413 (b)(2)(iii)). Effective January 1, 2006, the "substantial term rehabilitation" as used in CCRL section 33413(b) will be changed to simply rehabilitated. 5 Not more than 50% of the units made available, pursuant to CCRL Sections 33413(b)(1) and (2)(A), may be assisted through the purchase or acquisition of long -term affordability covenants pursuant to CCRL Section 33413(b)(2)(B); therefore, the amounts entered in Column 2 cannot be more than 50% of the combined totals of Columns 1 and 2. e The sum of Columns 3a and 3b equal the sum of Column 1 from Tables 12, 13, and 14 for each fiscal year. The sum of Columns 4a and 4b equal the sum of Column 2 from Tables 12, 13, and 14 for each fiscal year. B Does not include units that are defined as substantially rehabilitated, pursuant to CCRL Sections 33413(b)(2)(A)(iii) and (iv). Effective January 1, 2006, the term "substantial rehabilitation" as used in CCRL section 33413(b) will be changed to simply rehabilitated; therefore, rehabilitated units will be counted in Column 1 thereafter. 9 Units included in columns 1 and 2 count for inclusionary credits, pursuant to CCRL Section 33413(b)(1) and (2). Columns 3 and 4 represent the total number of units constructed or substantially rehabilitated. See Tables 12, 13, and 14. Units included in Columns 5 through 8 do not qualify for inclusionary credit. 10 The sum of Columns 1 a and 1 b equal the sum of Column 5b from Tables 12, 13, and 14 for each fiscal year. " The sum of Columns 1 c and 1 d equal the sum of Column 6b from Tables 12, 13, and 14 for each fiscal year. 12 Equals the sum of Columns 1a and 2a minus the sum of Column 5a from Tables 12 and 14 for each fiscal year. Calculated on a cumulative year -to -year basis. 3 Equals the sum of Columns 1 b and 2b minus the sum of Column 6a from Tables 12 and 14 for each fiscal year. Calculated on a cumulative year -to -year basis. 14 Equals the sum of Columns is and 2c minus the sum of Column 5a from Table 13 for each fiscal year. Calculated on a cumulative year -to -year basis. 15 Equals the sum of Columns 1d and 2d minus the sum of Column 6a from Table 13 for each fiscal year. Calculated on a cumulative year -to -year basis. ° The agency may cause, by agreement or regulation, to be available, at affordable housing cost, and occupied by, persons and families of low -, moderate -, or very low- income households, two units outside the Project Area for each unit that otherwise would have had to be available inside the Project Area (CCRL Section 33413(b)(2)(A)(ii). 17 Affordability covenants anticipated to be deed restricted with the Agency /City on a projected 107 non Agency developed units outside the Project Area (Permit Nos. SP04 -01; RPD 98 -02, TR5130; and RPD 03 -01, TTM 5404 - see City Residential Quarterly Status Report for July 2004). 30 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 6.6 Low- and Moderate - Income Housing Fund CCRL Section 33490(a)(2)(A)(i) requires that each agency show the amount of money available in its LMI Fund and the estimated amounts which will be deposited into its LMI Fund during each of the five years in the planning cycle. The Agency's LMI Fund was established subsequent to the adoption of the Redevelopment Plan; the Agency has been making the required contribution of 20 percent of tax increment generated from within the Project Area into the LMI Fund. CCRL Section 33490(a)(2)(A)(ii) requires that an agency provide an estimate of the expenditures of monies from the LMI Fund during each of the five years in the planning cycle. Table 16 is included herein for the purpose of providing the required information. Table 16 shows a beginning balance in the LMI Fund of $1,897,197. Information for FY 2004 -05 is provided in the Agency's FY 2004 -05 Budget. Over the term of the Implementation Plan, UFI has projected that total assessed value of land in the Project Area will increase three percent per year in value, generating the "Tax Increment" values in subsequent years. Interest income is derived by multiplying the beginning year balance by two percent. The Table assumes that the Agency will issue a $5 million bond in FY 2008 -09 (net $4.45 Million) and that the Agency will place 20 percent of net proceeds ($890,000) into the LMI Fund (Table 16, "Bond Proceeds "). The projected expenditures from the LMI Fund are shown as follows: i) "Housing Program/Programs" have been identified and costs have been established in Section 6.4 above; ii) "Administration" is projected to increase by four percent per year from the FY 2004 -05 amount identified in the FY 2004 -05 Budget; and iii) "Debt Service" has been projected by UFI and increased by $72,640 in FY 2008 -09 to accommodate the projected $5 million bond issue. Tablel 6 shows a final Yearly Ending Balance in FY 2008 -09 of an approximate two - hundred thousand dollars. 6.7 Evidence of Agency Compliance with CCRL Section 33334.4 Recent changes to affordable housing requirements, which were approved by the legislature and were made effective on January 1, 2002, will affect the way in which the Agency implements its Goal No. IV, and may also affect the City's General Plan Housing Element. These changes are discussed below. 6.7.1 Unmet Affordable Housing Need Effective January 1, 2002, CCRL Section 33334.4(a) requires that an agency must expend its LMI Fund moneys towards assisting housing for persons of very low- and low- income in at least the same proportion as the total number of housing units needed for each of these income groups bears to the total number of units needed for very low -, low -, and moderate - income households within the community, as those needs have been determined by the most recent Regional Housing Needs Assessment (RHNA). This requirement must be met over the same 10 -year implementation plan period as the requirements of CCRL Section 33413(b). In carrying out these requirements over the duration of each implementation plan, pursuant to CCRL Section 33334.4(b), an agency is required to expend LMI Fund moneys to assist housing that is available to all persons regardless of age in at least the same proportion as the population under the age of 65 bears to the total population of the community as identified by the most recent census. Therefore, the 2000 Census will be used to identify the percentage of residents 65 years of age and older in the community, which will be the maximum percentage allowed for allocation January 2005 31 9 },�� m f=a TABLE 16 PROJECTED LMI FUND PROGRAM EXPENDITURES (Fiscal Years 2004 -05 to 2008 -09) PROGRAM CATEGORY EXPENDITURES FISCAL YEAR 2004 -05' 2005 -06 2006 -07 2007 -08 2008 -09 Projected Yearly Beginning Balances on July 1 $1,897,197 $2,021,695 $1,375,283 $718,199 $51,285 Estimated Receipts A. Tax Increment $762,551 $777,802 $793,358 $809,225 $825,410 B. Interest Income $40,000 $40,434 $27,506 $14,364 $1,026 C. Bond Proceeds $890,000 D. Other Total Available $2,699,748 $2,839,931 $2,196,147 $1,541,789 $1,767,720 Estimated Expenditures A. Housing Programs /Projects $224,422 $1,000,000 $1,000,000 $1,000,000 $1,000,000 B. Administration $299,476 $311,455 $323,913 $336,870 $350,345 C. Debt Service $154,155 $153,193 $154,034 $153,634 $226,666 Total Expenditures $678,053 $1,464,648 $1,477,947 $1,490,504 $1,577,011 Yearly Ending Balance $2,021,695 $1,375,283 $718,199 $51,2851 $190,710 ' Source for all information in FY 2004 -05 from the Agencys FY 2004 -05 Budget. P 2% of each years Beginning Balance. 32 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan of LMI Fund moneys towards assisting housing restricted to seniors. The remaining LMI Fund monies must be used towards assisting other non - senior household types. According to Census 2000 Summary File 1 Data (Table P 12) the City population equaled 31,415 persons of whom 29,986 were under 65 years of age. Accordingly, 4.5 percent (1,429 persons) of the total population of the City was 65 years of age or older; therefore, in carrying out the requirements of CCRL Section 33334.4(a), no more than 4.5 percent of LMI Fund expenditures can be allocated towards assisting senior headed households. 6.7.2 Regional Housing Needs Assessment The state legislature adopted Assembly Bill 2853 in 19808 requiring all councils of government to develop regional allocations of housing needs (new and existing) for all income categories (fair share of housing) based on regional housing needs. The Southern California Association of Governments (SCAG) has determined the housing needs for Moorpark. Table 17 identifies the City's estimated 1998 -2005 housing need by income limits for very low -, low -, and moderate - income households within the community. Based on the housing needs information provided by the RHNA, as extrapolated in Table 17 in accordance with CCRL Section 33334.4(a), at least 33.3 percent of all LMI Fund expenditures must be made towards assisting very low- income headed households, and no more than 47.5 percent can be made towards assisting moderate - income households. TABLE 17 FAIR SHARE HOUSING ALLOCATION INCOME GROUP NO. OF UNITS % OF TOTAL Very low (0 - 50% County Median Income) 269 33.3% Low (50 - 80% County Median Income) 155 19.2% Moderate (80 - 120% County Median Income) 383 47.5% TOTAL UNITS 807'' 100% Source: SCAG, November 2000. 6.7.3 Projected LMI Fund Expenditures by Age and Income Table 18 on the following page is an annual breakdown of affordable housing programs funded from monies in the LMI Fund for the planning cycle of the Implementation Plan period (expenditure amounts taken from Table 16, "Housing Programs "). In compliance with CCRL Section 33334.4, Table 18 allocates projected LMI Fund expenditures according to the City's Unmet Need as outlined in the proceeding paragraphs of this section. s Codified in California Government Code Sections 65580 through 65589.8. January 2005 ZA00PIn Active \Moorpark \005\2005- 20091PvFinalt.wpd 33 rl2 � T .✓ R °i1 —b `ice K�- _, TABLE 18 PROJECTED AGENCY LMI FUND EXPENDITURES AND ANALYSIS OF FUTURE UNMET NEED' JULY 1, 2004 THROUGH JUNE 30, 2009 PROJECTED ANNUAL LMI FUND EXPENDITURES REQUIRED ANNUAL CUMULATIVE UNMET NEED CUMULATIVE SENIOR HOUSING LMI FUND EXPENDITURES' DEFICIT/SURPLUS LMI FUND EXPENDITURES' FISCAL LOW INCOME' VERY LOW INCOME' MODERATE INCOME' TOTAL LOW INCOME VERY LOW LOW INCOME VERY LOW FUNDS MAXIMUM DEFICIT/ YEAR INCOME INCOME EXPENDED' ALLOWED SURPLUS Expenditures % of Total (a g) Exp Expenditures % of Total -. (C g) Expenditures % of Total (a g) Expenditures (a + c + a) 19.2% of Unmet Need 33.3% of Unmet Need Total (h - a + previous year) Total (I - c + previous year) Annual Total 4.5% of Annual Total (.045' g)'o Total (m - I + previous year) c d a 9 h I j k I rn n BALANCE FORWARD' - 2004-05 $43,500 19.4% $75,000 33.4% $105,922 47.2% $224,422 $43,169 $74,807 $331 $193 $1,000 $10,208 $208 2005-06 $193,000 19.3% $334,000 33.4%. $473,000 47.3% $1,000,000 $192,358 $333,333 $972 $859 $45,500 $45,488 $196 2006-07 $193,000 19.3% $334,000 33.4% $473,000 47.3% $1,000,000 $192,358 $333,333 $1,614 $1,526 $45,500 $45,488 $184 2007-08 $193,000 19.3% $334,000 33.4% $473,000 47.3% $1,000,000 $192,358 $333,333 $2,255 $2,1931 $45,500 $45,488 $172 2008-09 $193,000 1 19.3%1 $334,000, 33.4% $473,000 i 47.3% i $1,000,000 $192,358 $333,333 $2,897 $2,859 $45,500 $45,488 $160 TOTALS $815,5001 19.3%1 $1,4111,0001 33.4%1 $1,997,922 47,3%1 $1,000,000 $812,603 $1,408,141 $2,897 $2,859 $192,0001 $192,1601 $160 Compliance with Section 33334.4(a) and (b), and 33490(a)(2)(A), (B), and (c). CCRL Section 33490(a)(2)(A)(iv) requires that a description of how the housing program will implement CCRL Section 33334.4 in the implementation plan be included in implementation plans adopted on or after December 31, 2002. 2 Total from Redevelopment Plan adoption or December 31, 2002 (CCRL Section 33490(a)(2)(A)(iii)), whichever is later. Pursuant to CCRL Section 33334.4(b), deficits/surpluses of LMI Fund expenditures to assist very low, low, and moderate income persons in proportion to age are not carried forward from previous redevelopment implementation plans. Deficits/surpluses of LMI Fund expenditures to assist very low and low income persons in proportion to the number of housing units needed, as described by the methodology set forth in CCRL Section 33334.4(a), are carried forward from previous implementation plans over each 10 -year period of the Implementation Plan, currently July 1, 2004, through June 30, 2014. 3 As defined by Health & Safety Code Section 50105. 4 As defined by Health & Safety Code Section 50093. Each agency shall expend over each 10 -year period of the implementation plan the moneys in the LMI Fund to assist housing for persons of low income and housing for persons of very low income in at least the same proportion as the total number of housing units needed for each of those income groups bears to the total number of units needed for persons of moderate, low, and very low income within the community, as those needs have been determined for the community pursuant to Section 65584 of the Government Code (CCRL Section 33334.4(a)). Calculated on year-to-year basis. Percentage based on the proportion of the total number of low income housing units needed in relationship to the total number of units needed for persons of moderate, low, and very low income within the community as identified by the most recent (2000) Regional Housing Needs Assessment, pursuant to CCRL Section 33334.4(a) and Section 65584 of the California Government Code. The current proportion of unmet need for low income housing units in the City of Moorpark is 19.2 percent (see table 17 of this Implementation Plan). 7 Calculated on year-to-year basis. Percentage based on the proportion of the total number of very low income housing units needed In relationship to the total number of units needed for persons of moderate, low, and very low income within the community as identified by the most recent (2000) Regional Housing Needs Assessment, pursuant to CCRL Section 33334.4(a) and Section 65584 of the California Government Code. The current proportion of unmet need for very low income housing units in the City of Moorpark is 33.3 percent (see table 17 of this Implementation Plan). Each agency shall expend over the duration of each redevelopment implementation plan, the moneys in the LMI Fund to assist housing that is available to all persons regardless of age in at least the same proportion as the population under age 65 years bears to the total population of the community as reported in the most recent census of the United States Census Bureau (CCRL Section 33334.4(b)). Of the total funds expended in column g, the amount expended to assist housing restricted to persons 65 and over. Calculated on year-to-year basis. Percentage based on the proportion of the population 65 years of age and over in relationship to the total population of the community as reported in the United States Census 2000. According to Summary File 1, Table P 12 for the City of Moorpark, the current percentage of the community 65 years of age and over is 4.5 percent. I MA Moorpark Redevelopment Agency 2005 -2009 Implementation Plan 6.8 Excess Surplus As of July 1, 2004 there was about $1.9 million in the LMI Fund. Further, Table 16 projects that Yearly Beginning Balances will grow to $2.0 million in FY 2005 -06 before shrinking to $1.4 million in FY 2006 -07, and to less than a million dollars in each of the remaining fiscal years. The CCRL provides that an Agency has an "excess surplus" if it has the greater of $1 million or the sum of the last four years tax increment in unexpended and unencumbered funds in the LMI Fund in any one year. During the four fiscal years immediately preceding FY 2004 -05 the Agency received a total of $2.48 million in tax increment funds, an amount substantially greater than the $1.9 million shown in Table 16. Based upon calculations provided by UFI, the Agency would have to spend approximately $700,000 per year from its LMI Fund in order not to have an excess surplus. Given that the Agency is spending at least approximately double this amount in each year in the 2005 -09 Implementation Plan planning cycle, the Agency is not projected to have an excess surplus in its LMI Fund during the planning cycle. 6.9 Monitoring Redevelopment agencies must monitor, on an ongoing basis, the continuing availability of housing affordable to persons and families of low- or moderate - income developed or otherwise made available pursuant to CCRL provisions. As part of this monitoring, an agency shall require owners or managers of the housing to submit annual reports to the agency. The annual reports must include for each rental unit, the rental rate and the income and family size of the occupants, and for each owner - occupied unit, whether there was a change in ownership from the prior year and, if so, the income and family size of the new owners. This information is to be obtained by the agency from owners and managers of the subject housing, and current data is to be included in any reports required by law to be submitted to HUD, the State Department of Housing and Community Development (HCD) or the State Controller. The information on income and family size that is required to be reported by the owner or manager shall be supplied by the tenant and shall be the only information on income or family size that the owner or manager shall be required to submit on his or her annual report to the agency. Redevelopment agencies must adequately fund monitoring activities as needed to insure compliance with applicable laws and agreements which enforceably restrict affordable housing units. For purposes of defraying the cost of complying with monitoring requirements, the CCRL permits, but does not require, agencies to establish and impose fees upon owners of affected properties. 7.0 TEN -YEAR AND LIFE -OF- THE -PLAN HOUSING REQUIREMENTS CCRL Section 33490(a)(2)(B) requires that the implementation plan provide certain "Ten- Year" and "Life -of- the -Plan" housing production and inclusionary information (see Appendix A for the text or CCRL Section 33490(a)(2)(B)). If existing vacant or underutilized parcels within the Project Area designated for residential uses in the City General Plan were built out to maximum permissible densities, an estimated 3,5009 9 Source: City staff estimates based on gross land area which is residentially planned and zoned within the Project Area; however, future development will be dependant on market conditions, which may dramatically impact the number of units built during the term of the Redevelopment Plan. January 2005 ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 35 d +1k A ' 1 �q °�, `r 1 P 1 004, .� � Moorpark Redevelopment Agency 2005 -2009 Implementation Plan additional units could be accommodated within the Project Area. Assuming that 1,860 of these units will be constructed in the next five years (see Table 14, Column 1) and another, say 400 units were built in the five year period from FY 2009 -10 through FY 2013 -14, then the Agency could experience the construction of 1,960 residential units in the Project Area during the next ten years. Were this to happen, the Agency could experience the construction of 1,540 residential units from FY 2014 -15 through the remaining term of the Redevelopment Plan. As described above, the City has instituted and is rigorously enforcing a requirement that all private housing developers enforceably restrict at least 15 percent of all new housing development built within the Project Area and at least ten percent of all new housing development built outside the Project Area. Assuming the City continues to enforce these requirements over the life of the Redevelopment Plan, the Agency will incur no additional inclusionary housing obligations over the terms of the Ten -Year or Life -of- the -Plan. Compliance with CCRL inclusionary housing obligations will be monitored on a yearly basis by the Agency beginning immediately to ensure that the expenditures and programs projected to be spent and implemented over the planning cycle of the Implementation Plan are continued over the next ten years and for the remaining life -of- the -Plan. This will require that Agency, community development, and building department staff all work together to ensure that Agency mandates are met. 8.0 CONSISTENCY WITH CITY'S GENERAL PLAN HOUSING ELEMENT CCRL Section 33413(b)(4) requires that each agency, "...as part of the implementation plan required by Section 33490, shall adopt a [Housing Production] plan...." Section 33413 (b)(4) requires that "[t]he plan shall be consistent with ... the community's housing element." Additionally, "[t]he plan shall be reviewed and, if necessary, [be] amended at least every five years in conjunction with either the housing element cycle or the plan implementation cycle." Chapter 9 of the State's General Plan Guidelines 2003 (the "Guidelines ") states the California Attorney General has opined that "the term 'consistent with' is used interchangeably with 'conformity with. "' The general rule of consistency outlined in the Guidelines is that "[a]n action, program, or project is consistent with the general plan if, considering all its aspects, it will further the objectives and policies of the general plan and not obstruct their attainment." The following Goal Statements relating to affordable housing are contained within the City's General Plan Housing Element: "Overall Goal 2: Adequate provision of housing allowing maximum choice by type, tenure and location with particular attention to the provision of housing for the elderly, low and moderate income families, handicapped and other households identified as having special housing needs. "Section 2 Goal 2: Meet the needs of current residents of the City of Moorpark by upgrading affordable, low and moderate - income units through improvement of existing housing units and promoting greater housing affordability. "Section 3 Goal 2: Assist in the development of adequate housing to meet the needs of low and moderate income households. Inasmuch as, i) the Agency is working to provide affordable housing for all income levels and most specifically housing for persons of very low -, low -, and moderate - incomes, ii) the Agency is required 4.)()O!A , January 2005 ZA00PIn Active\ Moorpark \0052005- 20091PvFinaI1 wpd 36 H1/11105 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan to spend no less than 20 percent of all tax increment monies on affordable housing programs, and iii) the Agency has identified in this Implementation Plan those housing projects and programs and the number of dwelling units that it plans to develop, rehabilitate or assist the development of; the Agency determines that its current housing goals and objectives, ongoing activities, and housing production plan, as outlined in the Implementation Plan, are consistent with the current Housing Element of the City's General Plan. 9.0 CONCLUSIONS The City adopted the Redevelopment Plan in 1989, which outlined the Project Area (see map, Figure 1). The City Council acts as the Agency's Board of Directors. Until 1993, the Redevelopment Plan was the subject of a lawsuit which precluded the Agency from expending any funds. Beginning in 1993, the Agency's activities generally included public improvements either to the infrastructure in or benefitting the Project Area or to public recreation spaces and service facilities. The Agency: i) purchased the property known as "Gisler Field" in early 1994 which has now been developed as Poindexter Park; ii) financed development of 59 single family homes of which 15 will be sold to low and moderate income families; and iii) assisted in the development of Phase 2 of the Mission Bell Plaza Shopping Center. In 1995, the Agency adopted the 1995 -99 Implementation Plan which outlined projects that the Agency would undertake over the next 5 years. From 1995 through 1999 the Agency completed 22 major projects in the following categories: i) improvements to public infrastructure either in or of benefit to the Project Area; ii) development or rehabilitation of public and quasi - public uses including parks, public office space, and non - profit spaces benefitting the community (providing 15 acres for retail development); iii) participated in public /private partnerships (leased office space to the CHP); iv) carried out business assistance, retention and attraction activities; and v) completed or implemented various housing programs and projects. Ten of the 22 projects were within or of direct benefit to the Downtown Area. The Agency adopted the 1999 -04 Implementation Plan in 1999. The 1999 -04 Implementation Plan set forth goals for the Agency to achieve. The first goal was to encourage and aid economic development in the Project Area. The Agency's activities designed to achieve this goal included acquisition of the police and fire station sites, acquisition of 467 High Street, lease of properties along High Street, various business retention and attraction programs, the Agency's assistance to the Mission Bell II retail center, and more recently renovation financing and temporary parking improvements for the historic Theater on High Street. A second goal was to make improvements to Project Area infrastructure and public facilities. Examples of efforts to advance this goal included the Agency's work on Los Angeles Avenue (wall and landscaping), High Street, Flory Avenue, and Charles Street; improvements to Arroyo Vista Community Park, Poindexter Park; and construction of storm drains in Moorpark Avenue and Spring Road. The third goal was to promote affordable housing and rehabilitation of existing housing stock. This goal is being implemented through housing programs including the rehabilitation of existing housing within the Project Area, a mobile home rehabilitation loan program, the First Time Home Buyer Program, and the reservation of 100 new affordable units to be included in new market rate residential developments. This Implementation Plan is designed to continue the City's commitment to revitalize the Downtown Area. The Agency is now negotiating agreements with private companies for the purchase and development of the Agency -owned property along High Street for commercial and office projects. Additional parking and street improvements are being planned to support the new private development. Additional activities are proposed for Moorpark Avenue between High Street and Los Angeles Avenue. f � 0)' 1'. , ._Y4 C a January 2005 Z:100PIn Active\ Moorpark \005\2005- 20091PvFinalt.wpd J r1_111 1/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan Commercial redevelopment leveraged by the City's development of new public facilities and infrastructure improvements comprise the Agency's mission for the next five years. 1.1 0 "k1 j 4 F—' ' January 2005 Z: \OOPIn ActivelMOOrparkV005 \2005- 20091PvFinall.wpd 38 0_1/11/05 APPENDIX A Moorpark Redevelopment Agency 2005 -2009 Implementation Plan Below are excerpts from CCRL: Section 33490. "33490(a)(1)(A). On or before December 31, 1994, and each five years thereafter, each agency that has adopted a redevelopment plan prior to December 31, 1993, shall adopt, after a public hearing, an implementation plan that shall contain the specific goals and objectives of the agency for the project area, the specific programs, including potential projects, and estimated expenditures proposed to be made during the next five years, and an explanation of how the goals and objectives, programs, and expenditures will eliminate blight within the project area and implement the requirements of [CCRL] Section 33333.10, if applicable, and [CCRL] Sections 33334.2, 33334.4, 33334.6, and 33413. After adoption of the first implementation plan, the parts of the implementation plan that address [CCRL] Section 33333.10, if applicable, and [CCRL] Sections 33334.2, 33334.4, 33334.6, and 33413 shall be adopted every five years either in conjunction with the housing element cycle or the implementation plan cycle. The agency may amend the implementation plan after conducting a public hearing on the proposed amendment.... Subsequent implementation plans required pursuant to this section shall be adopted pursuant to the terms of this section, and as if the first implementation plan had been adopted on or before December 31, 1994. "(B) Adoption of an implementation plan shall not constitute an approval of any specific program, project, or expenditure and shall not change the need to obtain any required approval of a specific program, project, or expenditure from the agency or community. The adoption of an implementation plan shall not constitute a project within the meaning of Section 21000 of the Public Resources Code.... In addition, the inclusion of programs, potential projects, and expenditures in an implementation plan shall not eliminate review pursuant to the California Environmental Quality Act (Division 13 (commencing with Section 21000) of the Public Resources Code), at the time of the approval of the program, project, or expenditure, to the extent that it would be otherwise required. "(2) (A) A portion of the implementation plan shall address the agency housing responsibilities and shall contain a section addressing [CCRL] Section 33333.10, if applicable, and [CCRL] Sections 33334.2, 33334.4, and 33334.6, the Low and Moderate Income Housing Fund, and, if subdivision (b) of [CCRL] Section 33413 applies, a section addressing agency - developed and project area housing. The section addressing the Low and Moderate Income Housing Fund shall contain: "(i) The amount available in the Lowand Moderate Income Housing Fund and the estimated amounts which will be deposited in the Low and Moderate Income Housing Fund during each of the next five years. "(ii) A housing program with estimates of the number of new, rehabilitated, or price- restricted units to be assisted during each of the five years and estimates of the expenditures of moneys from the Low and Moderate Income Housing Fund during each of the five years. "(iii) A description of how the housing program will implement the requirement for expenditures of moneys in the Low and Moderate Income Housing Fund over a 10 -year period for various groups as required by [CCRL] Section 33334.4.... "(iv) This requirement to include a description of how the housing program will implement [CCRL] Section 33334.4 in the implementation plan shall apply to implementation plans adopted pursuant to subdivision (a) on or after December 31, 2002. "(B) For each project area to which subdivision (b) of [CCRL] Section 33413 applies, the section addressing the agency developed and project area housing shall contain: IJW Estimates of the number of new, substantially rehabilitated or price- restricted residential units to be developed or purchased within one or more project areas, both over the life of the plan and during the next 10 years. "(ii) Estimates of the number of units of very low, low -, and moderate - income households required to be developed within one or more project areas in order to meet the requirements of paragraph (2) of subdivision (b) of [CCRL] Section 33413, both over the life of the plan and during the next 10 years. "(iii) The number of units of very low, low -, and moderate - income households which have been developed within one or more project areas which meet the requirements of paragraph (2) of subdivision (b) of [CCRL] Section 33413. "(iv) Estimates of the number of agency developed residential units which will be developed during the next five years, if any, which will be governed by paragraph (1) of subdivision (b) of [CCRL] Section 33413. Al January 2005 ZA00PIn Active\ Moorpark \005\2005- 20091PvFinall.wpd L d_7/11/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan "(v) Estimates of the number of agency developed units for very low, low -, and moderate - income households which will be developed by the agency during the next five years to meet the requirements of paragraph (1) of subdivision (b) of [CCRL] Section 33413. "(C) The section addressing [CCRL] Section 33333.10, if applicable, and [CCRL] Section 33334.4 shall contain all of the following: "(i) The number of housing units needed for very low income persons, low- income persons, and moderate - income persons as each of those needs have been identified in the most recent determination pursuant to Section 65584 of the Government Code, and the proposed amount of expenditures from the Low and Moderate Income Housing Fund for each income group during each year of the implementation plan period. "(ii) The total population of the community and the population under 65 years of age as reported in the most recent census of the United States Census Bureau. "(iii) A housing program that provides a detailed schedule of actions the agency is undertaking or intends to undertake to ensure expenditure of the Low and Moderate Income Housing Fund in the proportions required by [CCRL] Section 33333.10, if applicable, and [CCRL] Section 33334.4. "(iv) For the previous implementation plan period, the amounts of Low and Moderate Income Housing Fund moneys utilized to assist units affordable to, and occupied by, extremely low income households, very low income households, and low- income households; the number, the location, and level of affordability of units newly constructed with other locally controlled government assistance and without agency assistance and that are required to be affordable to, and occupied by, persons of low, very low, or extremely low income for at least 55 years for rental housing or 45 years for homeownership housing, and the amount of Low and Moderate Income Housing Fund moneys utilized to assist housing units available to families with children, and the number, location, and level of affordability of those units. "(3) If the implementation plan contains a project that will result in the destruction or removal of dwelling units that will have to be replaced pursuant to subdivision (a) of [CCRL] Section 33413, the implementation plan shall identify proposed locations suitable for those replacement dwelling units. "(4) For a project area that is within six years of the time limit on the effectiveness of the redevelopment plan established pursuant to [CCRL] Section 33333.2, 33333.6, 33333.7, or 33333.10, the portion of the implementation plan addressing the housing responsibilities shall specifically address the ability of the agency to comply, prior to the time limit on the effectiveness of the redevelopment plan, with subdivision (a) of [CCRL] Section 33333.8, subdivision (a) of [CCRL] Section 33413 with respect to replacement dwelling units, subdivision (b) of [CCRL] Section 33413 with respect to project area housing, and the disposition of the remaining moneys in the Low and Moderate Income Housing Fund.... "(c) Every agency, at least once within the five -year term of the plan, shall conduct a public hearing and hear testimony of all interested parties for the purpose of reviewing the redevelopment plan and the corresponding implementation plan for each redevelopment project within the jurisdiction and evaluating the progress of the redevelopment project. The hearing required by this subdivision shall take place no earlier than two years and no later than three years after the adoption of the implementation plan... An agency may hold one hearing for two or more project areas if those project areas are included within the same implementation plan. "(d) Notice of public hearings conducted pursuant to this section shall be published pursuant to Section 6063 of the Government Code, mailed at least three weeks in advance to all persons and agencies that have requested notice, and posted in at least four permanent places within the project area for a period of three weeks. Publication, mailing, and posting shall be completed not less than 10 days prior to the date set for hearing." ZAOOPIn Active\ Moorpark \005\2005- 20091PvFinall.wpd 2 January 2005 01/11/05 APPENDIX B Moorpark Redevelopment Agency 2005 -2009 Implementation Plan Section 33413(b)(4) of the CCRL requires that, as part of the Implementation Plan, an agency adopt a plan to comply with the requirements of the inclusionary rule. In addition, CCRL Sections 33413.5 and 33334.5 require replacement housing plans for compliance with the replacement rule. THE "REPLACEMENT RULE" Section 33413(a) of the CCRL requires that whenever dwelling units housing persons and families of low- or moderate - income are destroyed or removed from the low- and moderate - income housing market as part of a redevelopment project subject to a written agreement with the agency or having been provided financial assistance by an agency, the agency shall, within four (4) years of the removal of the dwelling units, cause to be developed an equal number of replacement dwelling units which have an equal or greater number of bedrooms as those destroyed or removed units at affordable housing costs within the territorial jurisdiction of the agency. For affordable units removed prior to September 1, 1989, replacement units must be available at an affordable housing cost' to persons and families of low- and moderate - income (very low- income levels excluded therein) without regard to the specific income of the person or family originally occupying the removed dwelling unit. However, for units removed after January 1, 2002, California law requires that 100 percent of the replacement units must be affordable to the same income groups, inclusive of very low- income levels, that occupied the units removed or destroyed. THE "INCLUSIONARY RULE" Section 33413(b)(1) of the CCRL requires that at least 30 percent of all dwelling units actually developed by a redevelopment agency shall be available at affordable housing cost to persons and families of low- or moderate - income, and not less than 50 percent of the units shall be available at affordable housing to very low- income households. Section 33413(b)(2) of the CCRL requires that at least 15 percent of all dwelling units developed within a project area by public or private entities or persons other than the redevelopment agency shall be available at affordable housing cost to persons and families of low- or moderate - income, and not less than 40 percent of the affordable units shall be available at affordable housing cost to very low- income households. To illustrate the inclusionary rule in terms of numbers, of every 100 dwelling units developed or rehabilitated by entities other than the agency, 15 shall be affordable, with nine affordable to persons of low -or moderate - income, and six available to persons of very low- income. To satisfy this requirement an agency may cause, by agreement or regulation, to be available at affordable housing costs to persons and families of low- or moderate - income, or to very low- income households, two units outside a project area for each unit that otherwise would have had to be available inside a project area. ' As defined in Health and Safety Code Sections 50052.5 and 50053. Z:\OOPIn Active \Moorpark \005\2005- 20091PvFinall.wpd 10q)'� 'I yC-#'' i. _, " OL January 2005 6_1/11/05 Moorpark Redevelopment Agency 2005 -2009 Implementation Plan TERMS OF AFFORDABILITY Section 33413(c) of the CCRL requires that replacement and inclusionary units shall remain available at affordable housing cost to the income levels indicated for the longest feasible time, which includes but is not limited to unlimited duration. CCRL Section 33334.3(f) states that when new or substantially rehabilitated housing units are developed or assisted with money from an agency's 20 percent affordable housing set -aside fund, the agency shall require that those housing units remain affordable for the longest feasible time, but for not less than 55 years for rental units or 45 years for owner - occupied units. DEFINITION OF AFFORDABLE HOUSING Most governmental programs define housing as affordable when the household is paying no more than 30 percent of household income for housing. In addition, a median income based on household size, is assessed for each county within the state. Since governmental programs are intended to provide affordable housing for specific income groups, target groups of very low (less than 50 percent of County median income), low (between 50 and 80 percent of County median income) and moderate (between 80 and 120 percent of County median income) are also calculated. INCLUSIONARY HOUSING PLAN REQUIREMENT Section 33413(b)(4) of the CCRL, added in 1991, requires each redevelopment agency to adopt a compliance plan to be included as part of the implementation plan required by Section 33490, indicating how the agency will comply with the requirements of the inclusionary rule; the compliance plan must be consistent with the Housing Element of the City's General Plan. The compliance plan shall be reviewed and amended at least every five years, in conjunction with either the Housing Element cycle or the plan implementation cycle. The compliance plan must ensure that the requirements of 33413(b) are met every ten years. Section 33490(a)(2)(B) requires that for each project area to which subdivision (b) of Section 33413 applies, the Section addressing the agency - developed and project area housing shall contain: (i) Estimates of the number of new, substantially rehabilitated or price - restricted residential units to be developed or purchased within one or more project areas, both over the life -of -the -Plan and during the next ten years. Estimates of the number of units of very low -, low -, and moderate - income households required to be developed within one or more project areas in order to meet the requirements of paragraph (2) of subdivision (b) of Section 33413, both over the life -of -the -Plan and during the next ten years. (iii) The number of units of very low -, low -, and moderate - income households which have been developed within one or more project areas which meet the requirements of paragraph (2) of subdivision (b) of Section 33413. ZA00PIn Active \Moorpark \005\2005- 20091PvFinall.wpd 2 January 2005 M-1/1 1 /05 1. r Moorpark Redevelopment Agency 2005 -2009 Implementation Plan (iv) Estimates of the number of agency developed residential units which will be developed during the next five years, if any, which will be governed by paragraph (1) of subdivision (b) of Section 33413. (v) Estimates of the number of agency developed units for very low -, low -, and moderate- income households which will be developed by the agency during the next five years to meet the requirements of paragraph (1) of subdivision (b) of Section 33413. USE OF FUND MONIES OUTSIDE OF THE PROJECT AREA CCRL Section 33334.2(g) makes provision for redevelopment agencies to use their LMI Fund monies outside of a redevelopment project area if the redevelopment agency and the city council find that use of these funds outside the project area will be of benefit to the project. AGGREGATE INCLUSIONARY HOUSING UNITS BETWEEN ONE OR MORE PROJECT AREAS CCRL Section 33413(b)(2)(A)(v) allows redevelopment agencies to aggregate new or rehabilitated dwelling units in one or more project area, if the agency finds, based on substantial evidence, after a public hearing, that the aggregation will not cause or exacerbate racial, ethnic, or economic segregation. Z: %00PIn Active\ Moorpark \005\2005.20091PvFinall.wpd 3 January 2005 rl_1 /11/05 RESOLUTION NO. 2005- A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK, CALIFORNIA, ADOPTING ITS 2005 -2009 IMPLEMENTATION PLAN FOR THE MOORPARK REDEVELOPMENT PROJECT WHEREAS, the Moorpark Redevelopment Agency Board of Directors, California Community Redevelopment Law ([CCRL] California Health and Safety Code Section 33000 et seq.) Section 33490(a)(1) requires that on or before December 31, 1994, and each five years thereafter, each redevelopment agency that has adopted a redevelopment plan prior to December 31, 1993, shall adopt, after a public hearing, an implementation plan that shall contain the specific goals and objectives of the agency for the project area, the specific programs, including potential projects and estimated expenditures proposed to be made during the next five years, and an explanation of how the goals and objectives, and programs and expenditures will eliminate blight within the project area and implement the requirements of CCRL Sections 33334.2, 33334.4, 33334.6 and 33413 et al.; and WHEREAS, CCRL Section 33490(b) stipulates that for a project area for which a redevelopment plan is adopted on or after January 1, 1994, the implementation plan prepared pursuant to subdivision (c) of Section 33352 shall constitute the initial implementation plan and thereafter the agency, after a public hearing, shall adopt an implementation plan every five years commencing with the fifth year after the plan has been adopted; and WHEREAS, CCRL Section 33490 (a)(1)(B) provides that adoption of an Implementation Plan shall not constitute a project within the meaning of Section 21000 of the Public Resource Code, and, therefore, CEQA compliance is not required prior to approval and adoption of the Implementation Plan; and WHEREAS, the 2005 -2009 Implementation Plan was made available for public review not less than seven days prior to the January 19, 2005, public hearing; and WHEREAS, on January 19, 2005, the Moorpark Redevelopment Agency (the "Agency ") conducted and concluded the above - referenced duly noticed public hearing; and ATTACHMENT 3 Resolution No. 2005 - Page 2 NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Pursuant to CCRL Section 33490, the Agency, having heard all testimony and having considered the content of the 2005- 2009 Implementation Plan, hereby approves and adopts the 2005 -2009 Implementation Plan for the Moorpark Redevelopment Project, incorporated herein by this reference. SECTION 2. The Secretary of the Agency shall certify to the adoption of this resolution and shall cause a certified resolution to be filed in the book of original resolutions. PASSED APPROVED AND ADOPTED on this 19th day of January, 2005. Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt, Agency Secretary APPROVED AS TO CONTENT: APPROVED AS TO FORM: Executive Director STATE OF CALIFORNIA ) CITY OF MOORPARK ) COUNTY OF VENTURA ) Agency Attorney I, , HEREBY CERTIFY that I am the duly appointed Secretary to the Moorpark Redevelopment Agency and that the foregoing resolution was duly and regularly adopted at a regular meeting thereof on the 19th day of January 2005. Deborah, S. Traffenstedt Agency Secretary CITY OF MOORPARK, CALIFORNIA Redevelopment Agency Meeting oof T1p1,1 0? MOORPARK REDEVELOPMENT AGECY ' AGENDA REPORT BY: TO: The Honorable Chair and Board of Directors FROM: Hugh R. Riley, Assistant Executive Director DATE: January 5, 2005 (Agency Meeting of 1/19/05) SUBJECT: Disposition and Development Agreement for the Sale of a .58 Acre Remnant Parcel Adjacent to New Public Works /Parks Department Corporation Yard to Hull Holdings, LLC. BACKGROUND At the Agency's April 7, 2004, regular meeting, the Board considered options for the sale or lease of an approximate .58 acre parcel located at the terminus of Fitch Avenue in the Flinn Road Business Center acquired by the Agency as part of a larger parcel intended for the development of a new Public Works /Parks Department Corporation Yard. During the March 17 meeting, a private party expressed interest in acquiring the property. The Board approved two of three staff recommendations and: 1) Declared the approximate .58 acre parcel as surplus property; 2) Directed staff to establish a fair market value for the property and prepare a legal description and take other actions necessary to create a separate parcel. The Board continued the item to its meeting of April 21, 2004, in order to consider whether to solicit competitive development proposals from interested parties or to negotiate a sale of the parcel. On April 21 the Board directed staff to obtain proposals from interested parties in conformance with the provisions of Section 421 of the Redevelopment Plan and Health and Safety Code Sections 33430 - 33449 for the disposition of the approximate .58 acre Parcel. Staff prepared and distributed a Request for Proposals for Property Acquisition and Development for the property (RFP) . `x A)01 1; Moorpark Redevelopment Agency Agenda Report January 5, 2005 Page 2 The RFP requested proposals by May 24, 2004. The Agency received one proposal to purchase the property for $400,000 or $15.83 per square foot. The fair market value and minimum bid price for the property had been established at $15.00 per square foot. On June 2, 2004, the Agency Board approved acceptance of the proposal from Creative Woodworks subject to negotiation of a Disposition and Development Agreement (DDA). The recommended DDA is now presented for consideration by the Agency, consistent with the timetable discussed during the Agency Board Meeting of April 21, 2004 and would allow Creative Woodworks to occupy a building approximately 15 months from the approval of the DDA. DISCUSSION The proposed DDA includes the requirements for purchase and development and reviewed and approved by the Agency Board on June 2, 2004, including: purchase price of $400,000; prior approval by Agency of financing plan for purchase, construction, and continued operations and maintenance; securing an approved Planned Development Permit; construction of a single story commercial building to be used for the fabrication of cabinetry with a show /display room and administrative offices on the site, and associated setbacks, parking and landscaping, and other onsite and offsite improvements. A copy of the proposed DDA with Hull Holdings, LLC is attached. STAFF RECONbONDATION Approve recommended Disposition and Development Agreement with Hull Holdings, LLC for the property, subject to final language approval by the Executive Director and Agency Counsel and authorize Agency Chair to execute Agreement. Attachment: Disposition and Development Agreement 2 DISPOSITION AND DEVELOPMENT AGREEMENT By and Between the REDEVELOPMENT AGENCY of the CITY OF MOORPARK and HULL HOLDINGS, LLC, a California limited liability company DATED January _, 2005 A MOORPARK REDEVELOPMENT PROJECT ATTACHMENT ATTACHMENTS Attachment No. 1 Site Map Attachment No. 2 Site Legal Description Attachment No. 3 Grant Deed Attachment No. 4 Schedule of Performance Attachment No. 5 Scope of Development Attachment No. 6 Release of Construction Covenants w "W)CC DISPOSITION AND DEVELOPMENT AGREEMENT THIS DISPOSITION AND DEVELOPMENT AGREEMENT (this entered into as of REDEVELOPMENT AGENCY and politic (the "Agency "), am company (the "Developer "). 2005, by and of the CITY OF MOORPARK, a public I HULL HOLDINGS, LLC, a California RECITALS The following recitals are a substantive part of this Agreement: "Agreement ") is between the body, corporate limited liability A. In furtherance of the objectives of the California Community Redevelopment Law, the Agency desires to redevelop a certain approximately 0.58 acre parcel adjacent to the Moorpark Redevelopment Project Area located at the terminus of Fitch Avenue in the City of Moorpark (the "Site "). The Site is vacant. B. The Site is currently owned by the Agency and is a remnant parcel adjacent to the site for the City's proposed Public Works and Parks Department Corporation Yard. C. The Agency and the Developer desire by this Agreement for the Agency to agree to convey the Site to the Developer, and for the Developer to agree to construct a new approximately 9,900 square foot industrial building on the Site including supporting parking and other on -site or off -site improvements (collectively, the "Improvements ") consistent with the adopted City General Plan, zoning and development standards. D. The Agency's disposition of the Site to the Developer, and the Developer's acquisition of the Site and construction of the Improvements pursuant to the terms of this Agreement, are in the vital and best interest of the Moorpark Redevelopment Agency, the City, and the health, safety, morals and welfare of its residents, and in accord with the public purposes and provisions of applicable state and local laws and requirements under which the redevelopment of the Project has been undertaken. NOW, THEREFORE, the Agency and the Developer hereby agree as follows: 100. DEFINITIONS "Actual Knowledge" is defined in Section 208.1 hereof. "Agency" means the Redevelopment Agency of the City of Moorpark, a public body, corporate and politic, exercising governmental functions and powers and organized and existing under Chapter 2 of the Community Redevelopment Law of the State of California, and any assignee of or successor to its rights, powers and responsibilities. "Agency's Conditions Precedent" means the conditions precedent to the Closing to the benefit of the Agency, as set forth in Section 205.1 hereof. "Agreement" means this Disposition and Development Agreement between the Agency and the Developer. "City" means the City of Moorpark, a California municipal corporation. -1- hereof "Closing Date" means the date of the Closing, as set forth in Section 202.4 "Condition of Title" is defined in Section 203 hereof. "Creative Woodworks" means Creative Woodworks, Inc., a California corporation. As of the date of this Agreement, Steven E. Hull is the sole shareholder of Creative Woodworks. "Date of Agreement" means the date set forth in the first paragraph hereof. "Default" means the failure of a party to perform any action or covenant required by this Agreement within the time periods provided herein following notice and opportunity to cure, as set forth in Section 501 hereof. "Design Development Drawings" means those plans and drawings to be submitted to the City for its approval, pursuant to Section 302 hereof. "Developer" means Hull Holdings, LLC, a California limited liability company. "Developer's Conditions Precedent" means the conditions precedent to the Closing to the benefit of the Developer, as set forth in Section 205.2. "Environmental Consultant" means the environmental consultant to be employed by the Developer pursuant to Section 208.2 hereof. "Environmental Laws" means any federal, state or local law, statute, ordinance or regulation pertaining to environmental regulation, contamination or cleanup of any Hazardous Materials, including, without limitation, (i) Sections 25115, 25117, 25122.7 or 25140 of the California Health and Safety Code, Division 20, Chapter 6.5 (Hazardous Waste Control Law)), (ii) Section 25316 of the California Health and Safety Code, Division 20, Chapter 6.8 (Carpenter - Presley- Tanner Hazardous Substance Account Act), (iii) Section 25501 of the California Health and Safety Code, Division 20, Chapter 6.95 (Hazardous Materials Release Response Plans and Inventory), (iv) Section 25281 of the California Health and Safety Code, Division 20, Chapter 6.7 (Underground Storage of Hazardous Substances), (v) Article 9 or Article 11 of Title 22 of the California Administrative Code, Division 4, Chapter 20, (vi) Section 311 of the Clean Water Act (33 U.S.C.§ 1317), (vii) Section 1004 of the Resource Conservation and Recovery Act, 42 U.S.C. §6901 et seq.(42 U.S.C. §6903), (viii) Section 101 of the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. §9601 et seq., or (ix) any state or federal lien or "superlien" law, any environmental cleanup statute or regulation, or any permit, approval, authorization, license, variance or permission required by any governmental authority having jurisdiction. "Escrow" is defined in Section 202 hereof. "Escrow Agent" is defined in Section 202 hereof. "Exceptions" is defined in Section 203 hereof. "Governmental Requirements" means all laws, ordinances, statutes, codes, rules, regulations, orders and decrees of the United States, the state, the county, the City, or any other political subdivision in which the Site is located, and of any other - 2 - 0 0 4J C, political subdivision, agency or instrumentality exercising jurisdiction over the Agency, the Developer or the Site. "Grant Deed" means the grant deed for the conveyance of the Site from the Agency to the Developer, in the form of Attachment No. 3 hereto which is incorporated herein. "Hazardous Materials" means any substance, material, or waste which is or becomes, regulated by any local governmental authority, the State of California, or the United States Government, including, but not limited to, any material or substance which is (i) defined as a "hazardous waste," "extremely hazardous waste," or "restricted hazardous waste" under Section 25115, 25117 or 25122.7, or listed pursuant to Section 25140 of the California Health and Safety Code, Division 20, Chapter 6.5 (Hazardous Waste Control Law)), (ii) defined as a "hazardous substance" under Section 25316 of the California Health and Safety Code, Division 20, Chapter 6.8 (Carpenter- Presley- Tanner Hazardous Substance Account Act), (iii) defined as a "hazardous material," "hazardous substance," or "hazardous waste" under Section 25501 of the California Health and Safety Code, Division 20, Chapter 6.95 (Hazardous Materials Release Response Plans and Inventory), (iv) defined as a "hazardous substance" under Section 25281 of the California Health and Safety Code, Division 20, Chapter 6.7 (Underground Storage of Hazardous Substances), (v) petroleum, (vi) friable asbestos, (vii) polychlorinated byphenyls, (viii) listed under Article 9 or defined as "hazardous" or "extremely hazardous" pursuant to Article 11 of Title 22 of the California Administrative Code, Division 4, Chapter 20, (ix) designated as "hazardous substances" pursuant to Section 311 of the Clean Water Act (33 U.S.C. § 1317), (x) defined as a "hazardous waste" pursuant to Section 1004 of the Resource Conservation and Recovery Act, 42 U.S.C. §6901 et seq. (42 U.S.C. §6903) or (xi) defined as "hazardous substances" pursuant to Section 101 of the Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C. §9601 et seq. "Improvements" means the improvements to be constructed by the Developer either on or off the Site. The improvements include but are not limited to the construction of a single story, industrial building constructed with concrete, concrete block or other material acceptable to the City, of approximately 9,900 square feet and supporting parking and landscape improvements all more particularly described herein and in the Scope of Development. "Lease" is defined in Section 205.1(b). "Lender" is defined in Section 311.2 hereof. "Notice" shall mean a notice in the form prescribed by Section 601 hereof. "Outside Date" shall mean the last date the Closing shall occur, as set forth in Section 202.4 hereof. "Project" shall mean the Site as improved including construction of improvements consisting of a single story, industrial building constructed with concrete, concrete block or other material acceptable to the City, of approximately 9,900 square feet and supporting parking and landscape improvements all more particularly described herein and in the Scope of Development. -3- "Purchase Price" means the price to be paid by the Developer to the Agency in consideration for the conveyance of fee title to the Site. "RAP" means the remedial action plan for the remediation of the Site, as defined in Section 208.3 hereof. "Release of Construction Covenants" means the document which evidences the Developer's satisfactory completion of the Improvements, as set forth in Section 310 hereof, in the form of Attachment No. 6 hereto which is incorporated herein. "Remedial Work" is defined in Section 208.3 hereof. "Remediation Cost" is defined in Section 208.3 hereof# "Report" means the preliminary title report, as described in Section 203 hereof "Schedule of Performance" means the Schedule of Performance attached hereto as Attachment No. 4 and incorporated herein, setting out the dates and /or time periods by which certain obligations set forth in this Agreement must be accomplished. The Schedule of Performance is: (a) subject to revision from time to time as mutually agreed upon in writing between the Developer and the Agency's Executive Director, and the Agency's Executive Director is authorized to make such revisions as he or she deems reasonably necessary; and (b) subject to the provisions of Section 602. "Scope of Development" means the Scope of Development attached hereto as Attachment No. 5 and incorporated herein, which describes the scope, amount and quality of development of the Improvements to be constructed by the Developer pursuant to the terms and conditions of this Agreement. "Site" is defined in Recital Paragraph A. "Site Legal Description" means the description of the Site which is attached hereto as Attachment No. 2 and incorporated herein. "Site Map" means the map of the Site which is attached hereto as Attachment No. 1 and incorporated herein. "Studies" are defined in Section 207 hereof. "Threshold Amount" is defined in Section 208.3 hereof. "Title Company" is defined in Section 203 hereof. "Title Policy" is defined in Section 204 hereof. "Trust Deed" is defined in Section 311.2 hereof. "Use Restriction Period" is defined in Section 301 hereof. 200. CONVEYANCE OF THE SITE 201. Purchase and Sale of Site. The Agency has fee title to the entire Site as defined in Site Legal Description in Section 100 hereof. Subject to all of the terms and conditions of this Agreement, Agency shall sell the Site to Developer, and Developer shall purchase the Site from Agency, for the all- inclusive cash purchase price of Four -4- 4) JG Hundred Thousand Dollars ($400,000.00) (the "Purchase Price "), payable in legal tender of the United States of America, unless provisions to the contrary are provided herein. Payment of the Purchase Price represents the agreed upon reuse value of the Site, at the use and with the covenants and conditions and development costs authorized by this Agreement. Developer agrees that it shall not purchase the Site for speculation in undeveloped land. 202. Escrow. Within thirty (30) days after the full execution of this Agreement, the parties shall open escrow ( "Escrow ") with Chicago Title Insurance Company, or another escrow company mutually satisfactory to both parties (the "Escrow Agent "). 202.1 Costs of Escrow. Agency and Developer shall pay their respective portions of the premium for the Title Policy as set forth in Section 204 hereof, the Agency shall pay for the documentary transfer taxes, if any, due with respect to the conveyance of the Site, and Developer and Agency each agree to pay one -half of all other usual fees, charges, and costs which arise from Escrow. 202.2 Escrow Instructions. This Agreement constitutes the joint escrow instructions of Developer and Agency, and the Escrow Agent to whom these instructions are delivered is hereby empowered to act under this Agreement. The parties hereto agree to do all acts reasonably necessary to close this Escrow in the shortest possible time. Insurance policies for fire or casualty are not to be transferred, and Agency will cancel coverage of the Site from its own policies after the Closing. All funds received in the Escrow shall be deposited with other escrow funds in a general escrow account(s) and may be transferred to any other such escrow trust account in any State or National Bank doing business in the State of California. All disbursements shall be made by check from such account. However, if Escrow does not close within two (2) business days from deposit of the Purchase Price, the funds shall be deposited into an interest bearing account with such interest accruing to the benefit of the Developer. If in the opinion of either party it is necessary or convenient in order to accomplish the Closing of this transaction, such party may require that the parties sign supplemental escrow instructions; provided that if there is any inconsistency between this Agreement and the supplemental escrow instructions, then the provisions of this Agreement shall control. The parties agree to execute such other and further documents as may be reasonably necessary, helpful or appropriate to effectuate the provisions of this Agreement. The Closing shall take place when both the Agency's Conditions Precedent and the Developer's Conditions Precedent as set forth in Section 205 have been satisfied. Escrow Agent is instructed to release Agency's escrow closing and Developer's escrow closing statements to the respective parties. 202.3 Authority of Escrow Agent. Escrow Agent is authorized to and shall: a. Pay and charge Agency for the premium of the Title Policy and any amount necessary to place title in the condition necessary to satisfy Section 203 of this Agreement. -5- b. Pay and charge Developer and Agency for their respective shares of any escrow fees, charges, and costs payable under Section 202.1 of this Agreement. c. Pay and charge Developer for any endorsements to the Title Policy which is requested by the Developer. d. Disburse funds, and deliver and record the Grant Deed when both the Developer's Conditions Precedent and the Agency's Conditions Precedent have been fulfilled or waived by Developer and Agency. e. Do such other actions as necessary, including obtaining the Title Policy, to fulfill its obligations under this Agreement. f. Within the discretion of Escrow Agent, direct Agency and Developer to execute and deliver any instrument, affidavit, and statement, and to perform any act reasonably necessary to comply with the provisions of FIRPTA and any similar state act and regulation promulgated there under. Agency agrees to execute a Certificate of Non - Foreign Status by individual transferor and /or a Certification of Compliance with Real Estate Reporting Requirement of the 1986 Tax Reform Act as may be required by Escrow Agent, on the form to be supplied by Escrow Agent. g. Prepare and file with all appropriate governmental or taxing authorities a uniform settlement statement, closing statement, tax withholding forms including an IRS 1099 -S form, and be responsible for withholding taxes, if any such forms are provided for or required by law. 202.4 Closing. This transaction shall close ( "Closing ") within fifteen (15) days of the parties' satisfaction of all of Agency's and Developer's Conditions Precedent to Closing as set forth in Section 205 hereof, but in no event later than , 2005 (the "Outside Date "). The Closing shall occur at a location within Ventura County at a time and place reasonably agreed on by the parties. The "Closing" shall mean the time and day the Grant Deed is filed for record with the Ventura County Recorder. The "Closing Date" shall mean the day on which the Closing occurs. 202.5 Termination. If (except for deposit of money by Developer, which shall be made by Developer before the Closing) Escrow is not in condition to close by the Outside Date, then either party which has fully performed under this Agreement may, in writing, demand the return of money or property and terminate this Agreement. If either party makes a written demand for return of documents or properties, this Agreement shall not terminate until five (5) days after Escrow Agent shall have delivered copies of such demand to all other parties at the respective addresses shown in this Agreement. If any objections are raised within said five (5) day period, Escrow Agent is authorized to hold all papers and documents until instructed by a court of competent jurisdiction or by mutual written instructions of the parties. Developer, however, shall have the sole option to withdraw any money deposited by it for the acquisition of the Site less Developer's share of costs of Escrow. Termination of this Agreement shall be without prejudice as to whatever legal rights either party may have against the other arising from this Agreement. If no demands are made, the Escrow Agent shall proceed with the Closing as soon as possible. -6- a 202.6 Closing Procedure. Escrow Agent shall close Escrow for the Site as follows: a. Record the Grant Deed with instructions for the Recorder of Ventura County, California to deliver the Grant Deed to Developer; b. Instruct the Title Company to deliver the Title Policy to Developer; c. File any informational reports required by Internal Revenue Code Section 6045(e), as amended, and any other applicable requirements; and d. Deliver the FIRPTA Certificate, if any, to Developer; e. Forward to both Developer and Agency a separate accounting of all funds received and disbursed for each party and copies of all executed and recorded or filed documents deposited into Escrow, with such recording and filing date and information endorsed thereon. 203. Review of Title. The Agency shall cause Chicago Title Insurance Company, or another title company mutually agreeable to both parties (the "Title Company "), to deliver to Developer a standard preliminary title report (the "Report") with respect to the title to the Site, together with legible copies of the documents underlying the exceptions ( "Exceptions ") set forth in the Report, within thirty (30) days from the date of this Agreement. The Developer shall have the right to reasonably approve or disapprove the Exceptions. Developer shall have thirty (30) days from the date of its receipt of the Report to give written notice to Agency and Escrow Holder of Developer's approval or disapproval of any of such Exceptions. Developer's failure to give written disapproval of the Report within such time limit shall be deemed approval of the Report. If Developer notifies Agency of its disapproval of any Exceptions in the Report, Agency shall have the right, but not the obligation to notify Developer within ten (10) business days after receiving written notice of Developer's disapproval that such Exception(s) will be removed on or before the Closing. If Agency cannot or does not elect to remove any of the disapproved Exceptions within that period, Developer shall have ten (10) business days after the expiration of such ten (10) business day period to either give the Agency written notice that Developer elects to proceed with the purchase of the Site subject to the disapproved Exceptions or to give the Agency written notice that the Developer elects to terminate this Agreement. The Exceptions approved by Developer as provided herein shall hereinafter be referred to as the "Condition of Title." Developer shall have the right to approve or disapprove any Exceptions reported by the Title Company after Developer has approved the Condition of Title for the Site (which are not created by Developer). Agency shall not voluntarily create any new exceptions to title following the date of this Agreement. 204. Title Insurance. Concurrently with recordation of the Grant Deed conveying title to the Site, there shall be issued to Developer an ALTA owner's extended coverage policy of title insurance (the "Title Policy "), together with such endorsements as are reasonably requested by the Developer, issued by the Title Company insuring that the title to the Site is vested in Developer in the condition required by Section 203 of this Agreement. The Title Company shall provide the Agency with a copy of the Title Policy. -7- � ) o 0 �Gre The Title Policy shall be for the amount of the Purchase Price. The Agency agrees to remove on or before the Closing any deeds of trust or other monetary liens against the Site. The Agency shall pay that portion of the premium for the Title Policy equal to the cost of a CLTA standard coverage title policy in the amount of the Purchase Price. Any additional costs, including the cost of an ALTA policy or any endorsements requested by the Developer, shall be borne by the Developer. 205. Conditions of Closing. The Closing is conditioned upon the satisfaction of the following terms and conditions within the times designated below: 205.1 Agency's Conditions of Closing. Agency's obligation to proceed with the Closing of the sale of the Site is subject to the fulfillment or waiver by Agency of each and all of the conditions precedent (a) through (h), inclusive, described below ( "Agency's Conditions Precedent "), which are solely for the benefit of Agency, and which shall be fulfilled or waived by the time periods provided for herein: a. No Default. Prior to the Close of Escrow, Developer is not in default in any of its obligations under the terms of this Agreement and all representations and warranties of Developer contained herein shall be true and correct in all material respects. b. Lease. Developer shall have delivered to Agency a Lease ( "Lease ") entered into for the Improvements between Developer, as lessor, and Creative Woodworks, as lessee, for a period of not less than five (5) years commencing on the later of: (i) the Close of Escrow; or (ii) issuance of a Certificate of Occupancy for the Improvements. c. Creation of Parcel. Prior to the Close of Escrow, Agency will create a separate legal parcel for the Site and have a parcel map for the Site recorded in accordance with the laws of the City and the State of California. Developer shall be responsible to pay fifty percent (50 %) of the total cost (which total cost shall not exceed $5,500), to have the separate legal parcel created and the parcel map recorded. Said costs are as detailed below: 1. Parcel Map @ $9,500 x 50% _ $4,750 2. Subdivision Report @ $1,500 x 50% _ $750 TOTAL $5,500 d. Execution of Documents. The Developer shall have executed the Grant Deed and executed any other documents required hereunder and delivered such documents into Escrow. e. Payment of Closing Costs. Prior to the Close of Escrow, Developer has paid all required costs of Closing into Escrow in accordance with Section 202 hereof. f. Design Approvals. The Developer shall have obtained approval by the Agency of the Design Development Drawings as set forth in Section 302 hereof. g. Land Use Approvals. The Developer shall have received all land use approvals and permits required pursuant to Section 303 hereof. h. Insurance. The Developer shall have provided proof of insurance as required by Section 306 hereof. WIN I)()011?C, t. : i. Financing. The Agency shall have approved financing of the Improvements as provided in Section 311.1 hereof. 205.2 Developer's Conditions of Closing. Developer's obligation to proceed with the purchase of the Site is subject to the fulfillment or waiver by Developer of each and all of the conditions precedent (a) through (h), inclusive, described below ( "Developer's Conditions Precedent "), which are solely for the benefit of Developer, and which shall be fulfilled or waived by the time periods provided for herein: a. No Default. Prior to the Close of Escrow, Agency is not in default in any of its obligations under the terms of this Agreement and all representations and warranties of Agency contained herein shall be true and correct in all material respects. b. Execution of Documents. The Agency shall have executed the Grant Deed and any other documents required hereunder, and delivered such documents into Escrow. c. Payment of Closing Costs. Prior to the Close of Escrow, Agency shall have paid all required costs of Closing into Escrow in accordance with Section 202 hereof. d. Review and Approval of Title. Developer shall have reviewed and approved the condition of title of the Site, as provided in Section 203 hereof. e. Title Policy. The Title Company shall, upon payment of Title Company's regularly scheduled premium, have agreed to the Title Policy for the Site upon the Close of Escrow, in accordance with Section 204 hereof. f. Environmental. The Developer shall have approved the environmental condition of the Site and shall not have elected to cancel Escrow and terminate this Agreement pursuant to Section 208 hereof, and the Remediation (if required pursuant to that Section) shall have been completed as provided therein. g. Design Approvals. The Developer shall have obtained approval of the Design Development Drawings as set forth in Section 302 hereof. h. Land Use Approvals. The Developer shall have received all land use approvals and permits required pursuant to Section 303 hereof. Creation of Parcel. Prior to the Close of Escrow, the Agency will create a separate legal parcel for the Site and have a parcel map for the Site recorded in accordance with the laws of the City and the State of California. Developer shall be responsible to pay fifty percent (50 %) of the total cost (which total cost shall not exceed $5,500), to have the separate legal parcel created and the parcel map recorded. Said costs are as detailed below: 1. Parcel Map @ $9,500 x 50% _ $4,750 2. Subdivision Report @ $1,500 x 50% _ $750 TOTAL 206. Representations and Warranties. 206.1 Agency Representations. Developer as follows: i2 $5,500 Agency represents and warrants to a. Authority. Agency is a public body, corporate and politic, existing pursuant to the California Community Redevelopment Law (California Health and Safety Code Section 33000), which has been authorized to transact business pursuant to action of the City. Agency has full right, power and lawful authority to grant, sell and convey the Site as provided herein and the execution, performance and delivery of this Agreement by Agency has been fully authorized by all requisite actions on the part of Agency. b. FIRPTA. Agency is not a "foreign person" within the parameters FIRPTA or any similar state statute, or is exempt from the provisions of FIRPTA or any similar state statute, or that Agency has complied and will comply with all the requirements under FIRPTA or any similar state statute. c. No Conflict. To the best of Agency's knowledge, Agency's execution, delivery and performance of its obligations under this Agreement will not constitute a default or a breach under any contract, agreement or order to which Agency is a party or by which it is bound. d. Lawsuits. There are no claims, actions, suits or proceedings, nor any order, decree or judgment, in law or in equity in effect against or affecting the Site. e. Violations of Law. No outstanding notices of the violation of laws, ordinances, orders, requirements or regulations of any government agency related to the Site have been received by the Agency. f. Leases and Contracts. There are no leases, rental agreements or similar instruments creating a possessory interest in the Site and no agreements relating to the upkeep, repair, maintenance and operation of the Site which are in effect as of the execution date of this Agreement or will be in effect as of the Close of Escrow. g. Special Assessments. Agency shall pay all assessments due on the property on a prorated basis up to closing of escrow. h. Purchase Rights. No person, firm, corporation or other entity (other than Developer by reason of this Agreement) has any right or option to acquire the Site or any portion thereof. Until the Closing, Agency shall, upon learning of any fact or condition which would cause any of the warranties and representations in this Section 206.1 not to be true as of Closing, immediately give written notice of such fact or condition to Developer. Such exception(s) to a representation shall not be deemed a breach by Agency hereunder, but shall constitute an exception which Developer shall have a right to approve or disapprove if such exception would have an effect on the value and /or operation of the Site. If Developer elects to close Escrow following disclosure of such information, Agency's representations and warranties contained herein shall be deemed -10- to have been made as of the Closing, subject to such exception(s). If, following the disclosure of such information, Developer elects to not close Escrow, then this Agreement and the Escrow shall automatically terminate, and neither party shall have any further rights, obligations or liabilities hereunder. The representations and warranties set forth in this Section 206.1 shall survive the Closing. 206.2 Developer's Representations. Developer represents and warrants to Agency as follows: a. Authority. Developer is a duly organized limited liability company organized within and in good standing under the laws of the State of California. The copies of the documents evidencing the organization of the Developer which have been delivered to the Agency are true and complete copies of the originals, as amended to the date of this Agreement. Developer has full right, power and lawful authority to purchase and accept the conveyance of the Site and undertake all obligations as provided herein and the execution, performance and delivery of this Agreement by Developer has been fully authorized by all requisite actions on the part of the Developer. b. No Conflict. To the best of Developer's knowledge, Developer's execution, delivery and performance of its obligations under this Agreement will not constitute a default or a breach under any contract, agreement or order to which the Developer is a party or by which it is bound. c. No Developer Bankruptcy. Developer is not the subject of a bankruptcy proceeding. Until thirty (30) days prior to the Closing, Developer shall, upon learning of any fact or condition which would cause any of the warranties and representations in this Section 206.2 not to be true as of Closing, immediately give written notice of such fact or condition to Agency. Such exception(s) to a representation shall not be deemed a breach by Developer hereunder, but shall constitute an exception which Agency shall have a right to approve or disapprove if such exception would have an effect on the value and /or operation of the Site. If Agency elects to close Escrow following disclosure of such information, Developer's representations and warranties contained herein shall be deemed to have been made as of the Closing, subject to such exception(s). If, following the disclosure of such information, Agency elects to not close Escrow, then this Agreement and the Escrow shall automatically terminate, and neither party shall have any further rights, obligations or liabilities hereunder. The representations and warranties set forth in this Section 206.2 shall survive the Closing. 207. Studies and Reports. Within thirty (30) days prior to the Closing, representatives of Developer shall have the right of access to all portions of the Site owned by the Agency for the purpose of obtaining data and making surveys and tests necessary to carry out this Agreement, including the investigation of the environmental condition of the Site pursuant to Section 208 hereof. Any preliminary work undertaken on the Site by Developer prior to the Closing shall be done at the sole expense of the Developer, and the Developer's execution of a right of entry agreement to be provided by the Agency. Any preliminary work shall be undertaken only after securing any necessary permits from the appropriate governmental agencies. 208. Condition of the Site 208.1 Disclosure. Prior to the execution of this Agreement, Agency has determined there is no visible evidence to indicate the presence of Hazardous Materials on the Site. The Agency hereby represents and warrants that it has no Actual Knowledge, and has not received any notice or communication from any government agency having jurisdiction over the Site, notifying Agency of, the presence of surface or subsurface zone Hazardous Materials in, on, or under the Site, or any portion thereof. "Actual knowledge," as used herein, shall not impose a duty of investigation, and shall be limited to the actual knowledge of the Agency employees and agents who have participated in the preparation of this Agreement. 208.2 Investigation of Site. The Developer shall have the right, at its sole cost and expense, to engage its own environmental consultant (the "Environmental Consultant ") to make such investigations as Developer deems necessary. The Agency shall promptly be provided a copy of all reports and test results provided by the Environmental Consultant. Within thirty (30) days prior to escrow closing, the Developer shall reasonably approve or disapprove, in its sole and absolute discretion, the environmental condition of the Site within the time set forth in the Schedule of Performance. The Developer's approval of the environmental condition of the Site shall be a Developer's Condition Precedent to the Closing, as set forth in Section 205 hereof. If the Developer, based upon the above environmental reports, reasonably disapproves the environmental condition of the Site, then the Developer may terminate this Agreement by written Notice to the Agency. 208.3 Remediation of Site. If the Developer does not elect to terminate this Agreement pursuant to Section 208.2, based upon Developer's investigation of the environmental condition of the Site, the following provisions shall apply to the remediation of any Hazardous Materials in, on or under the Site that are discovered in connection with Developer's environmental investigation. If Developer, based upon the above environmental reports, reasonably estimates that the cost of remediating the Site in accordance with all Governmental Requirements (the "Remediation Cost ") is Forty Thousand Dollars ($40,000) or less (the "Threshold Amount "), then Developer shall be required to fund the Remediation Cost, not to exceed the Threshold Amount, and Agency shall cause the Remediation of the Site to be performed with reasonable diligence, and in accordance with all Governmental Requirements prior to the Close of Escrow. If Developer, based upon the above environmental reports, reasonably estimates that the projected Remediation Cost exceeds the Threshold Amount, then Agency at its option, either may terminate this Agreement or agree in writing to pay the excess of the actually incurred Remediation Cost over the Threshold Amount. In such event, Developer shall be required to fund the portion of the Remediation Cost up to the Threshold Amount, and Agency shall be required to fund the portion of the Remediation Cost which exceeds the Threshold Amount. If the Remediation of the Site is to be performed, Developer shall deliver to Agency a proposed remedial action plan ( "RAP "), which RAP shall be approved by the City of Moorpark or any other agency asserting jurisdiction over the remedial work to be -12- ,,yy }} 5 0 0 A.✓ / /L performed pursuant to the RAP (the "Remedial Work "). The Remedial Work shall be performed by the Agency in accordance with applicable Governmental Requirements and Environmental Laws prior to the Close of Escrow. Completion of the Remediation Work and the issuance of closure letters without any requirement of further remedial work by all governmental agencies which have asserted jurisdiction over the remediation of the Site shall each be an Agency's Condition Precedent to the Closing. 208.4 No Further Warranties As To Site. Except as otherwise provided herein, the physical condition, possession or title of the Site is and shall be delivered from Agency to Developer in an "as -is" condition, with no warranty expressed or implied by Agency, including without limitation, the presence of Hazardous Materials or the condition of the soil, its geology, the presence of known or unknown seismic faults, or the suitability of the Site for the development purposes intended hereunder. 208.5 Developer Precautions After Closing. Upon the Closing, the Developer shall take all necessary precautions to prevent the release into the environment of any Hazardous Materials which are located in, on or under the Site. Such precautions shall include compliance with all Governmental Requirements with respect to Hazardous Materials. In addition, the Developer shall install and utilize such equipment and implement and adhere to such procedures as are consistent with commercially reasonable standards as respects the disclosure, storage, use, removal and disposal of Hazardous Materials. 208.6 Required Disclosures After Closing. After the Closing, the Developer shall notify the Agency, and provide to the Agency a copy or copies, of all environmental permits, disclosures, applications, entitlements or inquiries relating to the Site, including notices of violation, notices to comply, citations, inquiries, clean -up or abatement orders, cease and desist orders, reports filed pursuant to self- reporting requirements and reports filed or applications made pursuant to any Governmental Requirement relating to Hazardous Materials and underground tanks. The Developer shall report to the Agency, as soon as possible after each incident, any unusual or potentially important incidents with respect to the environmental condition of the Site. In the event of a release of any Hazardous Materials into the environment after the Closing, the Developer shall, as soon as possible after the release, furnish to the Agency a copy of any and all reports relating thereto and copies of all correspondence with governmental agencies relating to the release. Upon request, the Developer shall furnish to the Agency a copy or copies of any and all other environmental entitlements or inquiries relating to or affecting the Site including, but not limited to, all permit applications, permits and reports including, without limitation, those reports and other matters which may be characterized as confidential. 208.7 Developer Indemnity. Upon the Closing, Developer agrees to indemnify, defend and hold Agency harmless from and against any claim, action, suit, proceeding, loss, cost, damage, liability, deficiency, fine, penalty, punitive damage, or expense (including, without limitation, attorneys' fees), resulting from, arising out of, or based upon (i) the presence, release, use, generation, discharge, storage or disposal of any Hazardous Materials on, under, in or about, or the transportation of any such Hazardous Materials to or from, the Site after the Closing, or (ii) the violation, or alleged -13- violation, of any statute, ordinance, order, rule, regulation, permit, judgment or license relating to the use, generation, release, discharge, storage, disposal or transportation of Hazardous Materials on, under, in or about, to or from, the Site after the Closing. This indemnity shall include, without limitation, any damage, liability, fine, penalty, cost or expense arising from or out of any claim, action, suit or proceeding for personal injury (including sickness, disease or death), tangible or intangible property damage, compensation for lost wages, business income, profits or other economic loss, damage to the natural resource or the environment, nuisance, contamination, leak, spill, release or other adverse effect on the environment. 300. DEVELOPMENT OF THE SITE 301. Scope of Development. The Developer shall develop the Improvements in one phase in accordance with the Scope of Development and the plans, drawings and documents submitted by the Developer and approved by the Agency as set forth herein. The Improvements shall generally consist of the construction of a single story, industrial building constructed with concrete, concrete block or other material acceptable to the City, of approximately 9,900 square feet and supporting parking and landscape improvements, to be used for the fabrication of cabinetry with a show /display room and administrative offices on the Site, and associated setbacks, parking and landscaping and other onsite and offsite improvements as required by the development approval process. The premises shall be leased to and occupied by Creative Woodworks in accordance with the Schedule of Performance included as Attachment 4 to this Agreement. For a period of five (5) years from the issuance of a Certificate of Occupancy for the Project ( "Use Restriction Period ") the minimum target level of employment maintained by Creative Woodworks at the Project shall be thirty (30) employees ( "Target Level ") in the following approximate percentage ratios per category of employment (collectively the "Category Ratios "): Executive — 15 %; Clerical — 15 %; Sales Representatives — 10 %; Installers, Craftsmen and other labor — 60 %. Notwithstanding the goal of having Creative Woodworks maintain employment levels equal to or greater than the Target Level during the Use Restriction Period, Creative Woodworks shall have the right to adjust employment levels for its business based upon the business volumes and needs of Creative Woodworks and may therefore reduce the number of employees below the Target Level during the Use Restriction Period if such reduction is warranted in the reasonable business judgment of the President of Creative Woodworks; provided that Creative Woodworks shall maintain the approximate Category Ratios at all times during the Use Restriction Period unless the Agency approves a request by Developer or Creative Woodworks to modify the Category Ratios, which approval shall not be unreasonably withheld or delayed. 302. Design Review. 302.1 Developer Submissions. Before commencement of construction of the Improvements or other works of improvement upon the Site, and at or prior to the times set forth herein, the Developer shall submit to the City any plans and drawings (collectively, the "Design Development Drawings ") which may be required by the City with respect to any entitlements and permits which are required to be obtained to -14- approve and develop the Improvements, and such plans for the Improvements as required by the City in order for the Developer to obtain building and grading permits for the Improvements. Within thirty (30) days after the City's disapproval or conditional approval of such plans, the Developer shall revise the portions of such plans identified by the City as requiring revisions and resubmit the revised plans to the City. In the event that Developer objects to any of the proposed revisions, Developer and the City shall meet and discuss the revisions. Developer shall complete and occupy premises within one year from start of construction, subject to the provisions of Section 602. 302.2 City Review and Approval. The City shall have all rights to review and approve or disapprove all Design Development Drawings and other required submittals in accordance with the City Municipal Code, and nothing set forth in this Agreement shall be construed as the City's approval of any or all of the Design Development Drawings. 302.3 Revisions. Any and all change orders or revisions required by the City and its inspectors which are required under the Municipal Code and all other applicable Uniform Codes (e.g. Building, Plumbing, Fire, Electrical, etc.) and under other applicable laws and regulations shall be included by the Developer in its Design Development Drawings and other required submittals and shall be completed during the construction of the Improvements. 302.4 Defects in Plans. The Agency and the City shall not be responsible either to the Developer or to third parties in any way for any defects in the Design Development Drawings, nor for any structural or other defects in any work done according to the approved Design Development Drawings, nor for any delays reasonably caused by the review and approval processes established by this Section 302. 303. Land Use Approvals. Before commencement of construction of the Improvements or other works of improvement upon the Site, the Developer shall, at its own expense, secure or cause to be secured any and all land use and other entitlements, permits and approvals which may be required for the Improvements by the City or any other governmental agency affected by such construction or work, except for those which are the responsibility of the Agency as set forth herein. The Developer shall, without limitation, apply for and secure the following, and pay all costs, charges and fees associated therewith: a. Industrial Planned Development Permit. b. All permits and fees required by the City, County of Ventura, and other governmental agencies with jurisdiction over the Improvements. c. Pay for any environmental studies and documents required pursuant to the California Environmental Quality Act. However, the execution of this Agreement does not constitute the granting of or a commitment to obtain any required land use permits, entitlements or approvals required by the Agency or the City. The City will process the Developer's application for the Industrial Planned Development Permit concurrently with the Agency's application for a parcel map for the Site. At the request of Developer, the City will allow Developer's -15- building plans and specifications for the Improvements to be processed concurrently with its processing of Developer's application for the Industrial Planned Development Permit, provided that Developer acknowledges that such plans and specifications may be subject to later revision by the Developer based upon the City's review and approval of the Industrial Planned Development Permit. The Developer understands that any revisions to the plans are at the Developer's cost as well as any additional cost for City plan check. 304. Schedule of Performance. Subject to the provisions of Section 602, the Developer shall submit all Design Development Drawings, commence and complete all construction of the Improvements, and satisfy all other obligations and conditions of this Agreement within the times established therefore in the Schedule of Performance which is attached hereto as Attachment No. 4 and incorporated herein. 305. Cost of Construction. Except to the extent otherwise expressly set forth in this Agreement, all of the cost of planning, designing, developing and constructing all of the Improvements, demolition of existing improvements, site preparation and grading shall be borne solely by the Developer. 306. Insurance Requirements. The Developer shall take out and maintain or shall cause its contractor to take out and maintain until the issuance of the Release of Construction Covenants pursuant to Section 310 of this Agreement, a comprehensive general liability policy in the amount of Two Million Dollars ($2,000,000) combined single limit policy, and a comprehensive automobile liability policy in the amount of One Million Dollars ($1,000,000), combined single limit, or such other policy limits as the Agency may approve at its discretion, including contractual liability, as shall protect the Developer, City and Agency from claims for such damages. Such policy or policies shall be written on an occurrence form. The Developer shall also furnish or cause to be furnished to the Agency evidence satisfactory to the Agency that Developer and any contractor with whom it has contracted for the performance of work on the Site or otherwise pursuant to this Agreement carries workers' compensation insurance as required by law. The Developer shall furnish a certificate of insurance countersigned by an authorized agent of the insurance carrier on a form approved by the Agency setting forth the general provisions of the insurance coverage. This countersigned certificate shall name the City and the Agency and their respective officers, agents, and employees as additionally insured parties under the policy, and the certificate shall be accompanied by a duly executed endorsement evidencing such additional insured status. The certificate and endorsement by the insurance carrier shall contain a statement of obligation on the part of the carrier to notify City and the Agency of any material change, cancellation or termination of the coverage at least thirty (30) days in advance of the effective date of any such material change, cancellation or termination. Coverage provided hereunder by the Developer shall be primary insurance and not be contributing with any insurance maintained by the Agency or City, and the policy shall contain such an endorsement. The insurance policy or the endorsement shall contain a waiver of subrogation for the benefit of the City and the Agency. The required insurance shall be obtained and the required certificate shall be furnished by the Developer at the time set forth therefore in the Schedule of Performance. -16- 307. Developer's Indemnity. The Developer shall defend, indemnify, assume all responsibility for, and hold the Agency and the City, and their representatives, volunteers, officers, employees and agents, harmless from, all claims, demands, damages, defense costs or liability of any kind or nature relating to the subject matter of this Agreement or the implementation hereof and for any damages to property or injuries to persons, including accidental death (including attorneys fees and costs) which may be caused by any acts or omissions of the Developer under this Agreement, whether such activities or performance thereof be by the Developer or by anyone directly or indirectly employed or contracted with by the Developer and whether such damage shall accrue or be discovered before or after termination of this Agreement. The Developer shall not be liable for property damage or bodily injury occasioned by the sole negligence of the Agency or its designated agents or employees. 308. Rights of Access. Prior to the issuance of a Release of Construction Covenants (as specified in Section 310 of this Agreement), for purposes of assuring compliance with this Agreement, representatives of the Agency shall have the right of access to the Site, without charges or fees, at normal construction hours during the period of construction for the purposes of this Agreement, including but not limited to, the inspection of the work being performed in constructing the Improvements so long as Agency representatives comply with all safety rules. The Agency (or its representatives) shall, except in emergency situations, notify the Developer prior to exercising its rights pursuant to this Section 308. 309. Compliance With Laws. The Developer shall carry out the design and construction of the Improvements in conformity with all applicable laws, including all applicable state labor standards, the City zoning and development standards, building, plumbing, mechanical and electrical codes, and all other provisions of the City of Moorpark Municipal Code, and all applicable disabled and handicapped access requirements, including without limitation the Americans With Disabilities Act, 42 U.S.C. Section 12101, et seq., Government Code Section 4450, et seq., Government Code Section 11135, et seq., and the Unruh Civil Rights Act, Civil Code Section 51, et seq. 309.1 Taxes and Assessments. Commencing on the Close of escrow and continuing throughout Developer's ownership of the Site, the Developer shall pay prior to delinquency all ad valorem real estate taxes and assessments on the Site, subject to the Developer's right to contest in good faith any such taxes. The Developer shall remove or have removed any levy or attachment made on the Site or any part thereof, or assure the satisfaction thereof within a reasonable time. The Developer shall not apply for or receive any exemption from the payment of property taxes or assessments on any interest in or to the Site or the Improvements. 309.2 Liens and Stop Notices. The Developer shall not allow to be placed on the Site or any part thereof any lien or stop notice which are caused by any acts or omissions of Developer or anyone directly or indirectly employed by or contracted with the Developer. If such a claim of a lien or stop notice is given or recorded affecting the Improvements the Developer shall within thirty (30) days of such recording or service or within five (5) days of the Agency's demand whichever last occurs: -17- a. pay and discharge the same; or b. affect the release thereof by recording and delivering to the Agency a surety bond in sufficient form and amount, or otherwise; or c. provide the Agency with other assurance which the Agency deems, in its sole discretion, to be satisfactory for the payment of such lien or bonded stop notice and for the full and continuous protection of Agency from the effect of such lien or bonded stop notice. 310. Release of Construction Covenants. Promptly after completion of the Improvements or any portion thereof in conformity with this Agreement, the Agency shall furnish the Developer with a "Release of Construction Covenants," substantially in the form of Attachment No. 6 hereto which is incorporated herein by reference. The Agency shall not unreasonably withhold such Release of Construction Covenants. The Release of Construction Covenants shall be a conclusive determination of satisfactory completion of the Improvements and the Release of Construction Covenants shall so state. Any party then owning or thereafter purchasing, leasing or otherwise acquiring any interest in the Site shall not (because of such ownership, purchase, lease or acquisition) incur any obligation or liability under this Agreement except for those continuing covenants as set forth in Section 406 of this Agreement. If the Agency refuses or fails to furnish the Release of Construction Covenants, after written request from the Developer, the Agency shall, within thirty (30) days of written request therefore, provide the Developer with a written statement of the reasons the Agency refused or failed to furnish the Release of Construction Covenants. The statement shall also contain the Agency's opinion of the actions the Developer must take to obtain the Release of Construction Covenants. The Release of Construction Covenants shall not constitute evidence of compliance with or satisfaction of any obligation of the Developer to any holder of any mortgage, or any insurer of a mortgage securing money loaned to finance the Improvements, or any part thereof. The Release of Construction Covenants is not a notice of completion as referred to in Section 3093 of the California Civil Code. 311. Financing of the Improvements. 311.1 Approval of Financing. As required herein and as an Agency Condition Precedent to the Closing, Developer shall submit to Agency evidence that Developer has obtained sufficient equity capital or has obtained firm and binding commitments for construction and permanent financing necessary to undertake the development of the Site and the construction of the Improvements in accordance with this Agreement. Agency shall approve or disapprove such evidence of financing commitments within fifteen (15) business days of receipt of a complete submission. Approval shall not be unreasonably withheld or conditioned. If Agency shall disapprove any such evidence of financing, Agency shall do so by Notice to Developer stating the reasons for such disapproval and Developer shall promptly obtain and submit to Agency new evidence of financing. Agency shall approve or disapprove such new evidence of financing in the same manner and within the same times established in this Section 311.1 for the approval or disapproval of the evidence of financing as initially submitted to Agency. Developer shall close the approved financing concurrently with the Closing. -18- o0 t 7 �� Such evidence of financing shall include the following: (a) a copy of a legally binding, firm and enforceable loan commitment(s) obtained by Developer from unrelated financial institutions for the mortgage loan or loans for financing to fund the purchase, construction, completion, operation and maintenance of the Improvements, subject to such lenders' reasonable, customary and normal conditions and terms, and /or (b) a certification from the chief financial officer or chief executive officer of Developer that Developer has sufficient funds for such purchase, construction, completion, operation and maintenance of the Improvements, and that such funds have been committed to such purchase, construction, completion, operation and maintenance of the Improvements, and /or other documentation satisfactory to the Agency as evidence of other sources of capital sufficient to demonstrate that Developer has adequate funds to cover the difference between the total cost of the acquisition of the Site, and construction and completion of the Improvements, less financing authorized by those loans set forth in subparagraph (a) above. 311.2 No Encumbrances Except Mortgages, Deeds of Trust, or Sale and Lease -Back for Development. Mortgages, deeds of trust and sales and leases - back are to be permitted before completion of the construction of the Improvements with the Agency's prior written approval, which shall not be unreasonably withheld or delayed, but only for the purpose of securing loans of funds to be used for financing the acquisition of the Site, construction of the Improvements (including architecture, engineering, legal, and related direct costs as well as indirect costs) on or in connection with the Site, permanent financing, and any other purposes necessary and appropriate in connection with development under this Agreement. The Developer shall notify the Agency in advance of any mortgage, deed of trust or sale and lease -back financing, if the Developer proposes to enter into the same before completion of the construction of the Improvements. The words "mortgage" and "trust deed" as used hereinafter shall include sale and lease -back. The Developer shall not enter into any such conveyance for financing without the prior written approval of the Agency, which approval Agency agrees to give if any such conveyance for financing is given to a responsible financial lending institution or person or entity ( "Lender "). The Developer may enter into a conveyance for financing after the completion of the Improvements without the approval of the Agency. 311.3 Holder Not Obligated to Construct Improvements. The holder of any mortgage or deed of trust authorized by this Agreement shall not be obligated by the provisions of this Agreement to construct or complete the Improvements or any portion thereof, or to guarantee such construction or completion; nor shall any covenant or any other provision in this Agreement be construed so to obligate such holder. Nothing in this Agreement shall be deemed to construe, permit or authorize any such holder to devote the Site to any uses or to construct any improvements thereon, other than those uses or improvements provided for or authorized by this Agreement. 311.4 Notice of Default to Mortgagee or Deed of Trust Holders; Right to Cure. With respect to any mortgage or deed of trust granted by Developer as provided herein, whenever the Agency may deliver any notice or demand to Developer with respect to any breach or default by the Developer in completion of construction of the Improvements, the Agency shall at the same time deliver to each holder of record of -19- any mortgage or deed of trust authorized by this Agreement a copy of such notice or demand. Each such holder shall (insofar as the rights granted by the Agency are concerned) have the right, at its option, within thirty (30) days after the receipt of the notice, to cure or remedy or commence to cure or remedy and thereafter to pursue with due diligence the cure or remedy of any such default and to add the cost thereof to the mortgage debt and the lien of its mortgage. Nothing contained in this Agreement shall be deemed to permit or authorize such holder to undertake or continue the construction or completion of the Improvements, or any portion thereof (beyond the extent necessary to conserve or protect the improvements or construction already made) without first having expressly assumed the Developer's obligations to the Agency by written agreement reasonably satisfactory to the Agency. The holder, in that event, must agree to complete, in the manner provided in this Agreement, the Improvements to which the lien or title of such holder relates. Any such holder properly completing such improvement shall be entitled, upon compliance with the requirements of Section 310 of this Agreement, to a Release of Construction Covenants. It is understood that a holder shall be deemed to have satisfied the thirty (30) day time limit set forth above for commencing to cure or remedy a Developer default which requires title and /or possession of the Site (or portion thereof) if and to the extent any such holder has within such thirty (30) day period commenced proceedings to obtain title and /or possession and thereafter the holder diligently pursues such proceedings to completion and cures or remedies the default. 311.5 Failure of Holder to Complete Improvements. In any case where, thirty (30) days after the holder of any mortgage or deed of trust creating a lien or encumbrance upon the Site or any part thereof receives a notice from Agency of a default by the Developer in completion of construction of any of the Improvements under this Agreement, and such holder has not exercised the option to construct as set forth in Section 311, or if it has exercised the option but has defaulted hereunder and failed to timely cure such default, the Agency may purchase the mortgage or deed of trust by payment to the holder of the amount of the unpaid mortgage or deed of trust debt, including principal and interest and all other sums secured by the mortgage or deed of trust. If the ownership of the Site or any part thereof has vested in the holder, the Agency, if it so desires, shall be entitled to a conveyance from the holder to the Agency upon payment to the holder of an amount equal to the sum of the following: a. The unpaid mortgage or deed of trust debt at the time title became vested in the holder (less all appropriate credits, including those resulting from collection and application of rentals and other income received during foreclosure proceedings); b. All expenses with respect to foreclosure including reasonable attorneys' fees; c. The net expense, if any (exclusive of general overhead), incurred by the holder as a direct result of the subsequent management of the Site or part thereof; d. The costs of any improvements made by such holder; e. An amount equivalent to the interest that would have accrued on the aggregate of such amounts had all such amounts become part of the mortgage or deed of trust debt and such debt had continued in existence to the date of payment by the Agency; and -20- f. Any customary prepayment charges imposed by the lender pursuant to its loan documents and agreed to by the Developer. 311.6 Right of the Agency to Cure Mortgage or Deed of Trust Default. In the event of a mortgage or deed of trust default or breach by the Developer prior to the completion of the construction of any of the Improvements or any part thereof, Developer shall immediately deliver to Agency a copy of any mortgage holder's notice of default. If the holder of any mortgage or deed of trust has not exercised its option to construct, the Agency shall have the right but no obligation to cure the default. In such event, the Agency shall be entitled to reimbursement from the Developer of all proper costs and expenses incurred by the Agency in curing such default. The Agency shall also be entitled to a lien upon the Site to the extent of such costs and disbursements. Any such lien shall be junior and subordinate to the mortgages or deeds of trust pursuant to this Section 311. 400. COVENANTS AND RESTRICTIONS 401. Intentionally deleted 402. Use and Operation Covenants. Subject to the provisions of Section 602, during the Use Restriction Period, the Developer hereby covenants and agrees that the Improvements shall be used and operated as described in Section 301 or for such other use as then permitted in the M -1 zone under the City's zoning ordinance with the prior approval of the Agency, which approval shall not be unreasonably withheld or delayed.. 403. Maintenance Covenants. The Developer shall maintain the Site and all improvements thereon, including all landscaping, in compliance with all applicable provisions of the City of Moorpark Municipal Code and all conditions of approval of the Project. If a default under this Section is not fully cured by Developer as provided in Section 501, Agency shall have the right to enter the Site at all reasonable times, complete the maintenance or repair, and invoice Developer for the direct costs and expenses of said work plus fifteen percent (15 %) of said costs and expenses for administration. Developer shall pay the invoice in full within fifteen (15) days after receipt thereof. 404. Nondiscrimination Covenants. The Developer covenants by and for itself and any successors in interest that there shall be no discrimination against or segregation of any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Site, nor shall the Developer itself or any person claiming under or through it establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees of the Site. The foregoing covenants shall run with the land. The Developer shall refrain from restricting the rental, sale or lease of the Site on the basis of race, color, religion, sex, marital status, ancestry or national origin of any person. All such deeds, leases or contracts shall contain or be subject to substantially the following nondiscrimination or nonsegregation clauses: -21- )()0 . 81 a. In deeds: "The grantee herein covenants by and for himself or herself, his or her heirs, executors, administrators and assigns, and all persons claiming under or through them, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the land herein conveyed, nor shall the grantee or any person claiming under or through him or her, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees in the land herein conveyed. The foregoing covenants shall run with the land." b. In leases: "The lessee herein covenants by and for himself or herself, his or her heirs, executors, administrators, and assigns, and all persons claiming under or through him or her, and this lease is made and accepted upon and subject to the following conditions: "That there shall be no discrimination against or segregation of any person or group of persons, on account of race, color, creed, religion, sex, marital status, national origin, or ancestry in the leasing, subleasing, transferring, use, occupancy, tenure, or enjoyment of the premises herein leased nor shall the lessee himself or herself, or any person claiming under or through him or her, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use, or occupancy of tenants, lessees, sublessees, subtenants, or vendees in the premises herein leased." c. In contracts: "There shall be no discrimination against or segregation of, any person, or group of persons on account of race, color, creed, religion, sex, marital status, national origin, or ancestry, in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the premises, nor shall the transferee himself or herself or any person claiming under or through him or her, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees of the premises." 405. Effect of Violation of the Terms and Provisions of this Agreement After Completion of Construction. The Agency is deemed the beneficiary of the terms and provisions of this Agreement and of the covenants running with the land, for and in its own right and for the purposes of protecting the interests of the community and other parties, public or private, in whose favor and for whose benefit this Agreement and the covenants running with the land have been provided, without regard to whether the Agency has been, remains or is an owner of any land or interest therein in the Site or in the Project. The Agency shall have the right, if the Agreement or covenants are breached, to exercise all rights and remedies, and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breaches to which it or any other beneficiaries of this Agreement and covenants may be entitled. The covenants contained in this Agreement shall remain in effect until the issuance of the Release of Construction Covenants for the completion of the Improvements, except for the following: -22- a. The environmental covenants set forth in Sections 208.5, 208.6 and 208.7 shall remain in effect in perpetuity. b. Intentionally deleted. c. The covenants pertaining to the use and operation of the Site set forth in Section 402 shall remain in effect for the Use Restriction Period (five (5) years from the date a Certificate of Occupancy is granted for the Improvements). d. The covenants pertaining to maintenance of the Site and all improvements thereon, as set forth in Section 403, shall remain in effect during the Use Restriction Period. e. The covenants against discrimination, as set forth in Section 404, shall remain in effect in perpetuity. 500. DEFAULTS AND REMEDIES 501. Default Remedies. Subject to the extensions of time set forth in Section 602 of this Agreement, failure by either party to perform any action or covenant required by this Agreement within the time periods provided herein following notice and failure to cure as described hereafter, constitutes a "Default" under this Agreement. A party claiming a Default shall give written notice of Default to the other party specifying the Default complained of. Except as otherwise expressly provided in this Agreement, the claimant shall not institute any proceeding against any other party, and the other party shall not be in Default if such party within thirty (30) days from receipt of such notice immediately, with due diligence, commences to cure, correct or remedy such failure or delay and shall complete such cure, correction or remedy with diligence. 502. Institution of Legal Actions. In addition to any other rights or remedies, including those set forth in Sections 503 and 504, respectively, and subject to the restrictions otherwise set forth in this Agreement, either party may institute an action at law or equity to seek specific performance of the terms of this Agreement, or to cure, correct or remedy any Default, to recover damages for any Default, or to obtain any other remedy consistent with the purpose of this Agreement. Such legal actions must be instituted in the Superior Court of the County of Ventura, State of California, or if federal jurisdiction exists, in the District of the United States District Court for the Central District of California. 503. Termination by the Developer. In the event that the Developer is not in Default under this Agreement and the Agency does not tender title to the Site pursuant to the Grant Deed in the manner and condition and by the date provided in this Agreement; or one or more of the Developer's Conditions Precedent to the Closing is not fulfilled on or before the time set forth in the Schedule of Performance and such failure is not caused by the Developer; or in the event of any default of the Agency prior to the Closing which is not cured within the time set forth in Section 501 hereof, and any such failure is not cured within the applicable time period after written demand by the Developer, then this Agreement may, at the option of the Developer, be terminated by written notice thereof to the Agency. From the date of the written notice of termination of this Agreement by the Developer to the Agency and thereafter this Agreement shall be deemed terminated and there shall be no further rights or obligations between the -23- IL parties, except that the parties may pursue any other remedies they may have hereunder. 504. Termination by the Agency. In the event that the Agency is not in Default under this Agreement and prior to the issuance of the Release of Construction Covenants: the Developer (or any successor in interest) assigns or attempts to assign the Agreement or any rights therein or in the Site in violation of this Agreement; or one or more of the Agency's Conditions Precedent to the Closing is not fulfilled on or before the time set forth in the Schedule of Performance and such failure is not caused by the Agency or City; or the Developer is otherwise in default of this Agreement and fails to cure such default within the time set forth in Section 501 hereof, then this Agreement and any rights of the Developer or any assignee or transferee with respect to or arising out of the Agreement or the Site, shall, at the option of the Agency, be terminated by the Agency by written notice thereof to the Developer. From the date of the written notice of termination of this Agreement by the Agency to the Developer and thereafter this Agreement shall be deemed terminated and there shall be no further rights or obligations between the parties, except that the parties may pursue any other remedies they may have hereunder. 505. Termination Prior to Conveyance. If, prior to the close of escrow on the Site, a default under this Agreement is not fully cured by the defaulting party as provided in Section 501 hereof, Claimant shall have the right thereafter, but not before, to terminate this Agreement by giving written notice thereof to the defaulting party. The termination shall be effective immediately upon receipt of the notice, and thereafter neither party shall have any further rights of obligation with respect to the Site. Upon the termination (i) all documents and all monies deposited by either party into escrow shall be returned to the party that made the deposit, and (ii) any escrow cancellation fee shall be paid by the defaulting party. 506. Reentry and Revesting of Title in the Agency After the Closing and Prior to Completion of Construction. The Agency has the right, at its election, to seek and obtain a judicial order on an expedited basis authorizing it to reenter and take possession of the Site, with all improvements thereon, and terminate and revest in the Agency the estate conveyed to the Developer if after the Closing and prior to the issuance of the Release of Construction Covenants, the Developer (or its successors in interest) shall: a. fail to start the construction of the Improvements and to complete Improvements within one year as required by this Agreement and for a period of thirty (30) days after written notice thereof from the Agency, subject to the provisions of Section 602; or b. abandon or substantially suspend construction of the Improvements required by this Agreement for a period of thirty (30) days after written notice thereof from the Agency subject to the provisions of Section 602; or c. contrary to the provisions of Section 603 transfer or suffer any involuntary transfer of the Site or any part thereof in violation of this Agreement. -24- Such right to reenter, terminate and revest shall be subject to and be limited by and shall not defeat, render invalid or limit: 1. Any mortgage or deed of trust permitted by this Agreement; or 2. Any rights or interests provided in this Agreement for the protection of the holders of such mortgages or deeds of trust. The Grant Deed shall contain appropriate reference and provision to give effect to the Agency's right as set forth in this Section 506, under specified circumstances prior to recordation of the Release of Construction Covenants, to reenter and take possession of the Site, with all Improvements thereon, and to terminate and revest in the Agency the estate conveyed to the Developer. Upon the revesting in the Agency of title to the Site as provided in this Section 506, the Agency shall, pursuant to its responsibilities under state law, use its reasonable efforts to resell the Site as soon and in such manner as the Agency shall find feasible and consistent with the objectives of such law, as it exists or may be amended, to a qualified and responsible party or parties (as determined by the Agency) who will assume the obligation of making or completing the Improvements, or such improvements in their stead as shall be satisfactory to the Agency and in accordance with the uses specified for such Site or part thereof in the M -1 zone in the City's zoning ordinance. Upon such resale of the Site, the net proceeds thereof after repayment of any mortgage or deed of trust encumbering the Site which is permitted by this Agreement, shall be applied: i. First, to reimburse the Agency, on its own behalf or on behalf of the City, all costs and expenses incurred by the Agency, excluding City and Agency staff costs, but specifically, including, but not limited to, any expenditures by the Agency or the City in connection with the recapture, management and resale of the Site or part thereof (but less any income derived by the Agency from the Site or part thereof in connection with such management); all taxes, assessments and water or sewer charges with respect to the Site or part thereof which the Developer has not paid (or, in the event that Site is exempt from taxation or assessment of such charges during the period of ownership thereof by the Agency, an amount, if paid, equal to such taxes, assessments, or charges as would have been payable if the Site were not so exempt); any payments made or necessary to be made to discharge any encumbrances or liens existing on the Site or part thereof at the time or revesting of title thereto in the Agency, or to discharge or prevent from attaching or being made any subsequent encumbrances or liens due to obligations, defaults or acts of the Developer, its successors or transferees; any expenditures made or obligations incurred by the Agency with respect to the making or completion of the Improvements or any part thereof on the Site, or part thereof; and any amounts otherwise owing the Agency, and in the event additional proceeds are thereafter available, then ii. Second, to reimburse the Developer, its successor or transferee, up to the amount equal to the sum of (a) the costs incurred for the acquisition and development of the Site and for the Improvements existing on the Site at the time of the reentry and possession, less (b) any gains or income withdrawn or made by the Developer from the Site or the Improvements thereon. -25- 9000r8r' Any balance remaining after such reimbursements shall be retained by the Agency as its property. The rights established in this Section 506 are not intended to be exclusive of any other right, power or remedy, but each and every such right, power, and remedy shall be cumulative and concurrent and shall be in addition to any other right, power and remedy authorized herein or now or hereafter existing at law or in equity. These rights are to be interpreted in light of the fact that the Agency will have conveyed the Site to the Developer for redevelopment purposes, particularly for development of an industrial facility, and not for speculation in undeveloped land. 507. Acceptance of Service of Process. In the event that any legal action is commenced by the Developer against the Agency, service of process on the Agency shall be made by personal service upon the Executive Director of the Agency or in such other manner as may be provided by law. In the event that any legal action is commenced by the Agency against the Developer, service of process on the Developer shall be made by personal service upon the President of the Developer or in such other manner as may be provided by law. 508. Rights and Remedies Are Cumulative. Except as otherwise expressly stated in this Agreement, the rights and remedies of the parties are cumulative, and the exercise by either party of one or more of such rights or remedies shall not preclude the exercise by it, at the same or different times, of any other rights or remedies for the same default or any other default by the other party. 509. Inaction Not a Waiver of Default. Any failures or delays by either party in asserting any of its rights and remedies as to any Default shall not operate as a waiver of any Default or of any such rights or remedies, or deprive either such party of its right to institute and maintain any actions or proceedings which it may deem necessary to protect, assert or enforce any such rights or remedies. 510. Applicable Law. The laws of the State of California shall govern the interpretation and enforcement of this Agreement. 600. GENERAL PROVISIONS 601. Notices, Demands and Communications Between approval, disapproval, demand, document or other notice ( "Notice ") may desire to give to the other party under this Agreement must be be given by any commercially acceptable means to the party to v directed at the address of the party as set forth below, or at any off party may later designate by Notice. To Agency: Moorpark Redevelopment Agency 799 Moorpark Avenue Moorpark, California 93021 Attention: Executive Director -26- the Parties. Any which either party n writing and may hom the Notice is er address as that 1)001 Ell To Developer: Hull Holdings, LLC. 387 N. Zachary St., Ste 101 Moorpark, California 93021 Attention: Steve Hull, Member Any written notice, demand or communication shall be deemed received immediately if delivered by hand and shall be deemed received on the third day from the date it is postmarked if delivered by registered or certified mail. 602. Enforced Delay; Extension of Times of Performance. In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to causes beyond the control or without the fault of the party claiming an extension of time to perform, which may include: war; insurrection; strikes; lockouts; riots; floods; earthquakes; fires; casualties; acts of God; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; unusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other party; acts or failures to act of the City or any other public or governmental agency or entity (other than the acts or failures to act of the Agency which shall not excuse performance by the Agency). Notwithstanding anything to the contrary in this Agreement, an extension of time `for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if not' by the party claiming such extension is sent to the other party within thirty (30) days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the mutual agreement of Agency and Developer. Notwithstanding any provision of this Agreement to the contrary, the lack of funding to complete the Improvements shall not constitute grounds of enforced delay pursuant to this Section 602. 603. Transfers of Interest in Site or Agreement. 603.1 Prohibition. The qualifications and identity of the Developer are of particular concern to the Agency. It is because of those qualifications and identity that the Agency has entered into this Agreement with the Developer. For the period commencing upon the date of this Agreement and until the expiration of the Use Restriction Period), no voluntary or involuntary successor in interest of the Developer shall acquire any rights or powers under this Agreement, nor shall the Developer make any total or partial sale, transfer, conveyance, assignment, subdivision, refinancing or lease of the whole or any part of the Site or the Improvements thereon without prior written approval of the Agency, except as expressly set forth herein 603.2 Permitted Transfers. Notwithstanding any other provision of this Agreement to the contrary, Agency approval of an assignment of this Agreement or conveyance of the Site or Improvements, or any part thereof, shall not be required in connection with any of the following: -27- (a) Any transfers to an entity or entities in which the Developer retains management and control of the transferee entity or entities. (b) The conveyance or dedication of any portion of the Site to the City or other appropriate governmental agency, or the granting of easements or permits to facilitate construction of the Improvements (as defined herein). (c) Any requested assignment for financing purposes (subject to any approvals by the Agency that are necessary for any construction financing pursuant to Section 311 herein), including the grant of a deed of trust to secure the funds necessary for land acquisition, construction and permanent financing or re- financing of the Improvements. (d) Subleases of the single story, industrial building constructed with concrete, concrete block or other material acceptable to the City, of approximately 9,900 square feet for approved M -1 uses which do not exceed in the aggregate more than 2,500 square feet of interior space at any one time. In the event of an assignment by Developer under subparagraphs (a) through (c), inclusive, above not requiring the Agency's prior approval, Developer nevertheless agrees that at least thirty (30) days prior to such assignment it shall give written notice to Agency of such assignment and satisfactory evidence that the assignee has assumed jointly with Developer the obligations of this Agreement. 603.3 Agency Consideration of Requested Transfer. The Agency agrees that it will not unreasonably withhold approval of a request made pursuant to this Section 603.3, provided the Developer delivers written notice to the Agency requesting such approval. Such notice shall be accompanied by sufficient evidence regarding the proposed assignee's or purchaser's development (in the event that the Improvements have not been completed) and /or operational qualifications and experience, and its financial commitments and resources, in sufficient detail to enable the Agency to evaluate the proposed assignee or purchaser pursuant to the criteria set forth in this Section 603.3 and as reasonably determined by the Agency. The Agency shall evaluate each proposed transferee or assignee on the basis of its development (in the event that the Improvements have not been completed) and /or qualifications and experience in the operation of facilities similar to the Improvements, and its financial commitments and resources, and may reasonably disapprove any proposed transferee or assignee, during the Use Restriction Period, which the Agency determines does not possess qualifications satisfactory for performing the obligations of Developer hereunder for the balance of the Use Restriction Period. An assignment and assumption agreement in form satisfactory to the Agency's legal counsel shall also be required for all proposed assignments for which Agency consent is required hereunder. Within thirty (30) days after the receipt of the Developer's written notice requesting Agency approval of an assignment or transfer pursuant to this Section 603.3, the Agency shall either approve or disapprove such proposed assignment or shall respond in writing by stating what further information, if any, the Agency reasonably requires in order to determine the request complete and determine whether or not to grant the requested approval. Upon receipt of such a response, the Developer shall promptly furnish to the Agency such further information as may be reasonably requested. Developer shall pay all Agency -28- out -of- pocket costs plus 15% for review of assumption agreement. Developer shall provide a deposit of $2,500 upon submittal of request for transfer. 603.4 Successors and Assigns. All of the terms, covenants and conditions of this Agreement shall be binding upon the Developer and its permitted successors and assigns. Whenever the term "Developer" is used in this Agreement, such term shall include any other permitted successors and assigns as herein provided. 603.5 Assignment by Agency. The Agency may assign or transfer any of its rights or obligations under this Agreement with the approval of the Developer, which approval shall not be unreasonably withheld; provided, however, that the Agency may assign or transfer any of its interests hereunder to the City at any time without the consent of the Developer. 604. Non - Liability of Officials and Employees of the Agency and the Developer. No member, official or employee of the Agency or the City shall be personally liable to the Developer, or any successor in interest, in the event of any Default or breach by the Agency (or the City) or for any amount which may become due to the Developer or its successors, or on any obligations under the terms of this Agreement. 605. Relationship Between Agency and Developer. It is hereby acknowledged that the relationship between the Agency and the Developer is not that of a partnership or joint venture and that the Agency and the Developer shall not be deemed or construed for any purpose to be the agent of the other. Accordingly, except as expressly provided herein or in the Attachments hereto, the Agency shall have no rights, powers, duties or obligations with respect to the development, operation, maintenance or management of the Improvements. 606. Agency Approvals and Actions. The Agency shall maintain authority of this Agreement and the authority to implement this Agreement through the Agency Executive Director (or his duly authorized representative). The Agency Executive Director shall have the authority to make approvals, issue interpretations, waive provisions, and /or enter into amendments of this Agreement on behalf of the Agency so long as such actions do not materially or substantially change the uses or development permitted on the Site, or materially or substantially add to the costs incurred or to be incurred by the Agency as specified herein, and such approvals, interpretations, waivers and /or amendments may include extensions of time to perform as specified in the Schedule of Performance. All other material and /or substantial interpretations, waivers, or amendments shall require the consideration, action and written consent of the Agency Board. 607. Counterparts. This Agreement may be signed in multiple counterparts which, when signed by all parties, shall constitute a binding agreement. This Agreement is executed in three (3) originals, each of which is deemed to be an original. 608. Integration. This Agreement contains the entire understanding between the parties relating to the transaction contemplated by this Agreement. All prior or contemporaneous agreements, understandings, representations and statements, oral or written, are merged in this Agreement and shall be of no further force or effect. Each -29- fww)s party is entering this Agreement based solely upon the representations set forth herein and upon each party's own independent investigation of any and all facts such party deems material. This Agreement includes pages 1 through 32 and Attachment Nos. 1 through 6, which constitute the entire understanding and agreement of the parties, notwithstanding any previous negotiations or agreements between the parties or their predecessors in interest with respect to all or any part of the subject matter hereof. 609. Real Estate Brokerage Commission. The Agency and the Developer each represent and warrant to the other that no broker or finder is entitled to any commission or finder's fee in connection with the Developer's acquisition of the Site from the Agency. The parties agree to defend and hold harmless the other party from any claim to any such commission or fee from any broker, agent or finder with respect to this Agreement which is payable by such party. 610. Attorneys' Fees. In any action between the parties to interpret, enforce, reform, modify, rescind, or otherwise in connection with any of the terms or provisions of this Agreement, the prevailing party in the action shall be entitled, in addition to damages, injunctive relief, or any other relief to which it might be entitled, reasonable costs and expenses including, without limitation, litigation costs and reasonable attorneys' fees. 611. Titles and Captions. Titles and captions are for convenience of reference only and do not define, describe or limit the scope or the intent of this Agreement or of any of its terms. Reference to section numbers is to sections in this Agreement, unless expressly stated otherwise. 612. Interpretation. As used in this Agreement, masculine, feminine or neuter gender and the singular or plural number shall each be deemed to include the others where and when the context so dictates. The word "including" shall be construed as if followed by the words "without limitation." This Agreement shall be interpreted as though prepared jointly by both parties. 613. No Waiver. A waiver by either party of a breach of any of the covenants, conditions or agreements under this Agreement to be performed by the other party shall not be construed as a waiver of any succeeding breach of the same or other covenants, agreements, restrictions or conditions of this Agreement. 614. Modifications. Any alteration, change or modification of or to this Agreement, in order to become effective, shall be made in writing and in each instance signed on behalf of each party. 615. Severability. If any term, provision, condition or covenant of this Agreement or its application to any party or circumstances shall be held, to any extent, invalid or unenforceable, the remainder of this Agreement, or the application of the term, provision, condition or covenant to persons or circumstances other than those as to whom or which it is held invalid or unenforceable, shall not be affected, and shall be valid and enforceable to the fullest extent permitted by law. 616. Computation of Time. The time in which any act is to be done under this Agreement is computed by excluding the first day (such as the day escrow opens), and including the last day, unless the last day is a holiday or Saturday or Sunday, and then -30- s 0'�� that day is also excluded. The term "holiday" shall mean all holidays as specified in Section 6700 and 6701 of the California Government Code. If any act is to be done by a particular time during a day, that time shall be Pacific Time Zone time. 617. Legal Advice. Each party represents and warrants to the other the following: they have carefully read this Agreement, and in signing this Agreement, they do so with full knowledge of any right which they may have; they have received independent legal advice from their respective legal counsel as to the matters set forth in this Agreement, or have knowingly chosen not to consult legal counsel as to the matters set forth in this Agreement; and, they have freely signed this Agreement without any reliance upon any agreement, promise, statement or representation by or on behalf of the other party, or their respective agents, employees, or attorneys, except as specifically set forth in this Agreement, and without duress or coercion, whether economic or otherwise. 618. Time of Essence. Time is expressly made of the essence with respect to the performance by the Agency, the Developer of each and every obligation and condition of this Agreement. 619. Cooperation. Each party agrees to cooperate with the other in this transaction and, in that regard, to sign any and all documents which may be reasonably necessary, helpful, or appropriate to carry out the purposes and intent of this Agreement including, but not limited to, releases or additional agreements. 620. Inspection of Books and Records. Agency shall have the right to inspect, during normal business hours, the books and records of Developer pertaining to the performance of this Agreement, upon not less than twenty -four (24) hours prior notice, which notice may be given orally notwithstanding any other provision of this Agreement to the contrary. 621. Conflicts of Interest. No member, official or employee of the Agency shall have any personal interest, direct or indirect, in this Agreement, nor shall any such member, official or employee participate in any decision relating to the Agreement which affects his personal interests or the interests of any corporation, partnership or association in which he is directly or indirectly interested. 622. Time for Acceptance of Agreement by Agency. This Agreement, when executed by the Developer and delivered to the Agency, must be authorized, executed and delivered by the Agency on or before forty -five (45) days after signing and delivery of this Agreement by the Developer or this Agreement shall be void, except to the extent that the Developer shall consent in writing to a further extension of time for the authorization, execution and delivery of this Agreement. 623. Date of Agreement. The date of this Agreement shall be the date set forth in the first paragraph hereof. WITNESS WHEREOF, the Agency and the Developer have signed this Agreement on the respective dates set forth below. ATTEST: In AGENCY: REDEVELOPMENT AGENCY of the CITY OF MOORPARK, a public body, corporate and politic Patrick Hunter, Chair Deborah S. Traffenstedt, Agency Secretary DEVELOPER: HULL HOLDINGS, LLC a California limited liability company Steven E. Hull, Member -32- ATTACHMENT NO. 1 SITE MAP ATTACHED I Yl ,Y ME O r.. r+ n I 1 2t T� -- 1 9 r i v N � -4 M N n T T ,O A Q l _ 9 r i v N � -4 M N n T T ,O A Q Project Information Project .Address: Fitch Ave. Moorpark, Ca. APK a 512 -0 -150 -765 Lot: C Site Area: .58 ac. - 25,264 s.f. Zoned M- t Occupancy: F -1, cabinet fabrication Occupant Load: 200/s.f. = 49 occupants Building S.F: 9990 s.f Proposer: Steve Hull Parking: Rc uir :1 /500s.f - 20 spaces ( includes H.C. space) Creative Woodworks Provided: 19 reg. stalls, 1 H.C. (van access) = 20 spaces 387 N. "Zachary St. Suite 101 Moorpark, Ca. 93021 Construction Type: Type V -N, fire sprinklered 805 - 523 -0189, f:: 805 -523 -0186 Required Landscaping: 10% of site area = 2,526 s.f Architect: Gehricke Architects AIA 1.P Provided Landscaping: 2,526 + s.f. 483 E. High Street Moorpark, Ca. 93021 Required Setback: 20 % front, side /rear = 0 N. 805- 532 -1289, f:: 805 - 532 -1847 Max. Building Height: 30 ft. E -mail: l+�F►h�kr, mu,dsorin ,o Web site: www.gcbrkkearchitects.com ATTACHMENT NO. 2 SITE LEGAL DESCRIPTION LEGAL DESCRIPTION PARCEL 2 OF TENTATIVE PARCEL MAP NO. 5567 A PORTION OF PARCEL 1 AS SHOWN ON A PARCEL MAP FILED IN BOOK 21, PAGE 2 OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF VENTURA, STATE OF CALIFORNIA MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST NORTHWESTERLY CORNER OF SAID PARCEL 1 THENCE EAST ALONG THE NORTHERLY LINE OF SAID PARCEL 1 A DISTANCE OF 123.55 FEET; THENCE SOUTH 198.63 FEET; THENCE SOUTH 54 DEGREES 58 MINUTES 19 SECONDS WEST A DISTANCE OF 20.41 FEET TO A POINT ON AN EASEMENT LINE DESCRIBED IN AN EASEMENT DEED RECORDED AS INSTRUMENT NO. 94- 099074, OFFICIAL RECORDS OF SAID COUNTY, SAID POINT LIES ON A CURVE, CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 46.00 FEET, A RADIAL TO SAID POINT BEARS NORTH 54 DEGREES 58 MINUTES 19 SECONDS EAST; THENCE WESTERLY A DISTANCE OF 91.99 FEET ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 114 DEGREES 35 MINUTES 3 SECONDS TO A POINT OF REVERSE CURVATURE; THENCE WESTERLY ALONG SAID EASEMENT LINE A DISTANCE OF 30.17 FEET ALONG A CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF 29.00 FEET AND A CENTRAL ANGLE OF 59 DEGREES 36 MINUTES 44 SECONDS TO A POINT OF TANGENCY ON A SOUTHERLY LINE OF SAID PARCEL 1; THENCE ALONG SAID SOUTHERLY LINE WEST 4.47 FEET TO A SOUTHWEST CORNER OF SAID PARCEL 1; THENCE NORTH 227.81 FEET ALONG THE WESTERLY LINE OF SAID PARCEL 1 TO THE POINT OF BEGINNING. ATTACHMENT NO.3 RECORDING REQUESTED BY, MAIL TAX STATEMENTS TO AND WHEN RECORDED MAIL TO Creative Woodworks, Inc 387 N.Zachary St., Ste 101 Moorpark, California 93021 Attn: Steve Hull\ ) This document is exempt from payment of a recording fee pursuant to Government Code Section 27383 Documentary Transfer Tax: $ Based on full value of property conveyed GRANT DEED For valuable consideration, receipt of which is hereby acknowledged, The REDEVELOPMENT AGENCY of the CITY OF MOORPARK, a public body, corporate and politic (the "Agency "), acting to carry out the Redevelopment Plan ( "Redevelopment Plan ") for the Moorpark Redevelopment Project (the "Project "), under the Community Redevelopment Law of California, as of , 2004, hereby grants to HULL HOLDINGS, LLC, a California limited liability company ( "Developer"), the real property hereinafter referred to as the "Site ", described in Exhibit A attached hereto and incorporated herein, subject to the existing easements, restrictions and covenants of record described there. 1. Agency excepts and reserves from the conveyance herein described all interest of the Agency in oil, gas, hydrocarbon substances and minerals of every kind and character lying more than five hundred (500) feet below the surface, together with the right to drill into, through, and to use and occupy all parts of the Site lying more than five hundred (500) feet below the surface thereof for any and all purposes incidental to the exploration for and production of oil, gas, hydrocarbon substances or minerals from said Site or other lands, but without, however, any right to use either the surface of the Site or any portion thereof within five hundred (500) feet of the surface for any purpose or purposes whatsoever, or to use the Site in such a manner as to create a disturbance to the use or enjoyment of the Site. 2. The Site is conveyed in accordance with and subject to the Redevelopment Plan which was approved and adopted by Ordinance No. 110 of the City Council of the City of Moorpark, and a Disposition and Development Attachment No. 3 -1 Agreement entered into between Agency and Developer dated (the "DDA "), a copy of which is on file with the Agency at its offices as a public record and which is incorporated herein by reference. The DDA generally requires the Developer to construct improvements on the Site including a single story, foot industrial building constructed with concrete, concrete block or other material acceptable to the City, of approximately 9,900 square feet and supporting parking and landscape improvements (the" Improvements "), and other requirements as set forth therein. All terms used herein shall have the same meaning as those used in the DDA. 3. The Developer covenants and agrees for itself, its successors, its assigns, and every successor in interest to the Site or any part thereof, that upon the date of this Grant Deed and during construction and thereafter, the Developer shall devote the Site to the uses specified in the Industrial Planned Development Permit No. and the DDA for the periods of time specified therein. All uses conducted on the Site, including, without limitation, all activities undertaken by the Developer pursuant to this Agreement, shall conform to the Industrial Planned Development Permit No. , the DDA and all applicable provisions of the Moorpark Municipal Code. The foregoing covenants shall run with the land. 4. Until five (5) years from the date the final Certificate of Occupancy is issued for the Improvements on the Site: (a) The Developer shall not make any sale, transfer, conveyance, subdivision, refinancing or assignment of the Site or any part thereof or any interest therein, without the prior written consent of the Agency except as permitted by Section 603 of the DDA. (b) The Developer shall not place or suffer to be placed on the Site any lien or encumbrance other than mortgages, deeds of trust, or any other form of conveyance required for financing of the construction of the Improvements on the Site, and any other expenditures necessary and appropriate to develop the Site pursuant to the DDA, except as provided in Section 311 of the DDA. (c) All of the terms, covenants and conditions of this Grant Deed shall be binding upon the Developer and the permitted successors and assigns of the Developer. Whenever the term "Developer" is used in this Grant Deed, such term shall include any other permitted successors and assigns as herein provided. 5. The Developer herein covenants by and for himself or herself, his or her heirs, executors, administrators and assigns, and all persons claiming under or through them, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the land herein conveyed, nor shall the Developer himself or herself or any person claiming under or through him or her, Attachment No. 3 -2 9009911-1 establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees in the land herein conveyed. The foregoing covenants shall run with the land. 6. The Agency has the right, at its election, to reenter and take possession of the Site, with all improvements thereon, and terminate and revest in the Agency the estate conveyed to the Developer if after the Closing and prior to the issuance of the Release of Construction Covenants, the Developer (or its successors in interest) shall: a. abandon or substantially suspend construction of the Improvements required by the DDA for a period of thirty (30) days after written notice thereof from the Agency; or b. contrary to the provisions of Section 603 of the DDA transfer or suffer any involuntary transfer of the Site or any part thereof in violation of the DDA. Such right to reenter, terminate and revest shall be subject to and be limited by and shall not defeat, render invalid or limit: 1. Any mortgage or deed of trust permitted by the DDA; or 2. Any rights or interests provided in the DDA for the protection of the holders of such mortgages or deeds of trust. Upon the revesting in the Agency of title to the Site as provided in this Section 506, the Agency shall, pursuant to its responsibilities under state law, use its reasonable efforts to resell the Site as soon and in such manner as the Agency shall find feasible and consistent with the objectives of such law, as it exists or may be amended, to a qualified and responsible party or parties (as determined by the Agency) who will assume the obligation of making or completing the Improvements, or such improvements in their stead as shall be satisfactory to the Agency and in accordance with the uses specified for such Site or part therof in the M -1 zone as provided in the City's zoning ordinance. Upon such resale of the Site, the net proceeds thereof after repayment of any mortgage or deed of trust encumbering the Site which is permitted by this Agreement, shall be applied: i. First, to reimburse the Agency, on its own behalf or on behalf of the City, all costs and expenses incurred by the Agency, excluding City and Agency staff costs, but specifically, including, but not limited to, any expenditures by the Agency or the City in connection with the recapture, management and resale of the Site or part thereof (but less any income derived by the Agency from the Site or part thereof in connection with such management); all taxes, assessments and water or sewer charges with respect to the Site or part thereof which the Attachment No. 3 -3 Developer has not paid (or, in the event that Site is exempt from taxation or assessment of such charges during the period of ownership thereof by the Agency, an amount, if paid, equal to such taxes, assessments, or charges as would have been payable if the Site were not so exempt); any payments made or necessary to be made to discharge any encumbrances or liens existing on the Site or part thereof at the time or revesting of title thereto in the Agency, or to discharge or prevent from attaching or being made any subsequent encumbrances or liens due to obligations, defaults or acts of the Developer, its successors or transferees; any expenditures made or obligations incurred with respect to the making or completion of the improvements or any part thereof on th. Site, or part thereof; and any amounts otherwise owing the Agency, and in the event additional proceeds are thereafter available, then ii. Second, to reimburse the Developer, its successor or transferee, up to the amount equal to the sum of (a) the costs incurred for the acquisition and development of the Site and for the improvements existing on the Site at the time of the reentry and possession, less (b) any gains or income withdrawn or made by the Developer from the Site or the improvements thereon. Any balance remaining after such reimbursements shall be retained by the Agency as its property. The rights established in this Section 6 are not intended to be exclusive of any other right, power or remedy, but each and every such right, power, and remedy shall be cumulative and concurrent and shall be in addition to any other right, power and remedy authorized herein or now or hereafter existing at law or in equity. These rights are to be interpreted in light of the fact that the Agency will have conveyed the Site to the Developer for redevelopment purposes, particularly for development of a single story industrial building constructed with concrete, concrete block or other material acceptable to the City, of approximately 9,900 square feet and supporting parking and landscape improvements and appurtenant uses, and not for speculation in undeveloped land. 7. No violation or breach of the covenants, conditions, restrictions, provisions or limitations contained in this Grant Deed shall defeat or render invalid or in any way impair the lien or charge of any mortgage or deed of trust or security interest permitted by paragraph 4 of this Grant Deed; provided, however, that any subsequent owner of the Site shall be bound by such remaining covenants, conditions, restrictions, limitations and provisions, whether such owner's title was acquired by foreclosure, deed in lieu of foreclosure, trustee's sale or otherwise. 8. All covenants contained in this Grant Deed shall be covenants running with the land. All of Developer's obligations hereunder except as provided in Sections 2, 3, and 5 above shall terminate and shall become null and void five (5) years from the date the final Certificate of Occupancy is issued for the Improvements on the Site. Every covenant contained in this Grant Deed against Attachment No. 3 -4 discrimination contained in paragraph 5 of this Grant Deed shall remain in effect in perpetuity. 9. All covenants without regard to technical classification or designation shall be binding for the benefit of the Agency, and such covenants shall run in favor of the Agency for the entire period during which such covenants shall be in force and effect, without regard to whether the Agency is or remains an owner of any land or interest therein to which such covenants relate. The Agency, in the event of any breach of any such covenants, shall have the right to exercise all the rights and remedies and to maintain any actions at law or suits in equity or other proper proceedings to enforce the curing of such breach. 10. Both Agency, its successors and assigns, and Developer and the successors and assigns of Developer in and to all or any part of the fee title to the Site shall have the right with the mutual consent of the Agency to consent and agree to changes in, or to eliminate in whole or in part, any of the covenants, easements or restrictions contained in this Grant Deed without the consent of any tenant, lessee, easement holder, licensee, mortgagee, trustee, beneficiary under a deed of trust or any other person or entity having any interest less than a fee in the Site. However, Developer and Agency are obligated to give written notice to and obtain the consent of any first mortgagee prior to consent or agreement between the parties concerning such changes to this Grant Deed. The covenants contained in this Grant Deed, without regard to technical classification, shall not benefit or be enforceable by any owner of any other real property , or any person or entity having any interest in any other such realty. Any amendment to the Moorpark Municipal Code which proposes to change the uses or development permitted on the Site, or otherwise proposes a change of any of the restrictions or controls that apply to the Site, shall require the written consent of the first mortgagee and the Developer or the successors and assigns of Developer in and to all or any part of the fee title to the Site, but any such amendment which proposes a change affecting the Site shall not require the consent of any tenant, lessee, easement holder, licensee, mortgagee (other than the first mortgagee), trustee, beneficiary under a deed of trust or any other person or entity having any interest less than a fee in the Site. Attachment No. 3 -5 REDEVELOPMENT AGENCY of the CITY OF MOORPARK, a public body, corporate and politic: By: Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt, Agency Secretary DEVELOPER: HULL HOLDINGS, LLC, a California limited liability company 0 Steven E. Hull, Member Attachment No. 3 -6 EXHIBIT "A" LEGAL DESCRIPTION OF SITE LEGAL DESCRIPTION PARCEL 2 OF TENTATIVE PARCEL MAP NO. 5567 A PORTION OF PARCEL 1 AS SHOWN ON A PARCEL MAP FILED IN BOOK 21, PAGE 2 OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF VENTURA, STATE OF CALIFORNIA MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST NORTHWESTERLY CORNER OF SAID PARCEL 1 THENCE EAST ALONG THE NORTHERLY LINE OF SAID PARCEL I A DISTANCE OF 123.55 FEET; THENCE SOUTH 198.63 FEET; THENCE SOUTH 54 DEGREES 58 MINUTES 19 SECONDS WEST A DISTANCE OF 20.41 FEET TO A POINT ON AN EASEMENT LINE DESCRIBED IN AN EASEMENT DEED RECORDED AS INSTRUMENT NO. 94- 099074, OFFICIAL RECORDS OF SAID COUNTY, SAID POINT LIES ON A CURVE, CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 46.00 FEET, A RADIAL TO SAID POINT BEARS NORTH 54 DEGREES 58 MINUTES 19 SECONDS EAST; THENCE WESTERLY A DISTANCE OF 91.99 FEET ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 114 DEGREES 35 MINUTES 3 SECONDS TO A POINT OF REVERSE CURVATURE; THENCE WESTERLY ALONG SAID EASEMENT LINE A DISTANCE OF 30.17 FEET ALONG A CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF 29.00 FEET AND A CENTRAL ANGLE OF 59 DEGREES 36 MINUTES 44 SECONDS TO A POINT OF TANGENCY ON A SOUTHERLY LINE OF SAID PARCEL 1; THENCE ALONG SAID SOUTHERLY LINE WEST 4.47 FEET TO A SOUTHWEST CORNER OF SAID PARCEL 1; THENCE NORTH 227.81 FEET ALONG THE WESTERLY LINE OF SAID PARCEL 1 TO THE POINT OF BEGINNING. Attachment No. 3 -7 Exhibit A STATE OF CALIFORNIA ) ) ss. COUNTY OF ) On , before me, , Notary Public, (Print Name of Notary Public) personally appeared ❑ personally known to me -or ❑ proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is /are subscribed to the within instrument and acknowledged to me that he /she /they executed the same in his /her /their authorized capacity(ies), and that by his /her /their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature Of Notary Attachment No. 3 -8 $_ ➢()� x_141? STATE OF CALIFORNIA COUNTY OF On before me, ) ss. (Print Name of Notary Public) personally appeared Notary Public, ❑ personally known to me -or ❑ proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is /are subscribed to the within instrument and acknowledged to me that he /she /they executed the same in his /her /their authorized capacity(ies), and that by his /her /their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature Of Notary (REPLACE WITH STANDARD AGENCY ATTEST FORMAT) Attachment No. 3 -9 ATTACHMENT NO. 4 SCHEDULE OF PERFORMANCE 1. Submission of Disposition and On or before January 21, 2005 Development Agreement. Developer shall submit to the Agency a copy of the Disposition and Development Agreement duly executed by the Developer. 2. Agency Approval of Disposition and Within 30 days after Developer's Development Agreement. Agency shall submission to the Agency of an approve or disapprove the Disposition and executed Disposition and Development Agreement. Development Agreement 3. Submission of Required Development Within 10 days of Agency Application. Developer shall submit the approval of DDA. Design Development Application to the City 4. Developer and City Response. Developer Developer will respond to any shall respond to all requests by the City for request within 30 days. City will additional information and /or revisions to respond to any submission within plans. 30 days 5. City Council Hearing on Design Within 60 days of a Development Drawings. The City Council determination by City Community will consider the proposed Design Department of a Development Development Application. Complete application. 6. Submission of Construction Drawings Within 120 days after City for Improvements. Developer shall submit to Council approval of the proposed the City complete Construction Drawings for Design Development Application. The Improvements. 7. Development Services Review of Within 30 days after submittal. Construction Drawings. The City Community Development Department shall review the Construction Drawings for the improvements. Attachment 4 -1 4t(' z ATTACHMENT 4 SCHEDULE OF PERFORMANCE 8. Revisions of Construction Drawings By Developer. Developer shall prepare revised Drawings for the Construction Improvements as necessary, and resubmit them to the Community Development Department for review. 9. Final Review of Complete Construction Drawings. The City Community Development Department shall approve or disapprove the revisions submitted by Developer for the Improvements, and the Developer shall be ready to obtain grading and building permits, provided that the revisions necessary to accommodate the Department's comments have been made. 10. Opening of Escrow for Site. The Agency shall open Escrow with Escrow Agent. 11. Conditions Precedent to Closing. Developer and Agency shall satisfy (or waive) all of their respective Conditions Precedent to Closing. Within 10days after receipt of Community Development Department Comments Within 10days after submittal by Developer Within 30 days after execution of Agreement. Not later than 30 days prior to scheduled date of escrow closing. 12. Close of Escrow. Agency shall convey As soon as possible after the to the Site to the Developer. satisfaction of all Conditions Precedent to the Closing has occurred (within 30 days thereafter), not later than November 15, 2005. Attachment 4 -2 ATTACHMENT 4 SCHEDULE OF PERFORMANCE 13. Commencement of Construction Within 30 days following the of Improvements. Developer shall Closing. commence grading of the Site and construction of the Improvements. 14. Completion of Construction of Improvements. Developer shall complete construction of the Improvements. Within 12 months following commencement of construction of the Improvements. NOTE: All days are calendar days in this Schedule of Performance. This Schedule of Performance may be accelerated by mutual consent of the parties to the Agreement. Attachment 4 -3 ATTACHMENT NO. 5 SCOPE OF DEVELOPMENT Developer shall construct a single story industrial building to be used for the fabrication of cabinetry with a show /display room and administrative offices on the Site, and associated setbacks, parking and landscaping and other required onsite and offsite improvements. All development shall be in accordance with approved City of Moorpark Industrial Planned Development Permit No. and all permits and fees required by the City, County of Ventura and other governmental agencies with jurisdiction over the improvements. ATTACHMENT NO.6 RECORDING REQUESTED BY ) AND WHEN RECORDED MAIL TO: ) Hull Holdings, LLC 387 N. Zachary St., Ste 101 Moorpark, California 93021 Attn: Steven Hull, President This document is exempt from the payment of a recording fee pursuant to Government Code section 27383. RELEASE OF CONSTRUCTION COVENANTS THIS RELEASE OF CONSTRUCTION COVENANTS (the "Release ") is made as of 2005 by the REDEVELOPMENT AGENCY of the CITY OF MOORPARK, a public body corporate and politic (the "Agency "), in favor of HULL HOLDINGS, LLC, a CALIFORNIA LIMITED LIABILITY COMPANY(the "Developer "), as of the date set forth below. RECITALS A. The Agency and the Developer have entered into that certain Disposition and Development Agreement (the "DDA ") dated , 2004, concerning the redevelopment of certain real property situated in the City of Moorpark, California as more fully described in Exhibit "A" attached hereto and made a part hereof. B. As referenced in Section 310 of the DDA, the Agency is required to furnish the Developer or its successors with a Release of Construction Covenants upon completion of construction of the Improvements (as defined in Section 100 of the DDA), which Release is required to be in such form as to permit it to be recorded in the Recorder's office of Ventura County. This Release is conclusive determination of satisfactory completion of the construction and development required by the DDA. Attachment No. 6 -1 i a� •-'A C. The Agency has conclusively determined that such construction and development has been satisfactorily completed. NOW, THEREFORE, the Agency hereby certifies as follows: 1. The Improvements to be constructed by the Developer have been fully and satisfactorily completed in conformance with the DDA. Any operating requirements and all use, maintenance or nondiscrimination covenants contained in the DDA shall remain in effect and enforceable according to their terms. 2. Nothing contained in this instrument shall modify in any other way any other provisions of the DDA. IN WITNESS WHEREOF, the Agency has executed this Release as of the date set forth above. REDEVELOPMENT AGENCY of the CITY OF MOORPARK, a public body, corporate and politic: ATTEST: Patrick Hunter, Chair Debborah S. Traffenstedt, Agency Secretary Attachment No. 6 -2 EXHIBIT "A" LEGAL DESCRIPTION PARCEL 2 OF TENTATIVE PARCEL MAP NO. 5567 A PORTION OF PARCEL 1 AS SHOWN ON A PARCEL MAP FILED IN BOOK 21, PAGE 2 OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF VENTURA, STATE OF CALIFORNIA MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST NORTHWESTERLY CORNER OF SAID PARCEL 1 THENCE EAST ALONG THE NORTHERLY LINE OF SAID PARCEL 1 A DISTANCE OF 123.55 FEET; THENCE SOUTH 198.63 FEET; THENCE SOUTH 54 DEGREES 58 MINUTES 19 SECONDS WEST A DISTANCE OF 20.41 FEET TO A POINT ON AN EASEMENT LINE DESCRIBED IN AN EASEMENT DEED RECORDED AS INSTRUMENT NO. 94- 099074, OFFICIAL RECORDS OF SAID COUNTY, SAID POINT LIES ON A CURVE, CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 46.00 FEET, A RADIAL TO SAID POINT BEARS NORTH 54 DEGREES 58 MINUTES 19 SECONDS EAST; THENCE WESTERLY A DISTANCE OF 91.99 FEET ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 114 DEGREES 35 MINUTES 3 SECONDS TO A POINT OF REVERSE CURVATURE; THENCE WESTERLY ALONG SAID EASEMENT LINE A DISTANCE OF 30.17 FEET ALONG A CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF 29.00 FEET AND A CENTRAL ANGLE OF 59 DEGREES 36 MINUTES 44 SECONDS TO A POINT OF TANGENCY ON A SOUTHERLY LINE OF SAID PARCEL 1; THENCE ALONG SAID SOUTHERLY LINE WEST 4.47 FEET TO A SOUTHWEST CORNER OF SAID PARCEL 1; THENCE NORTH 227.81 FEET ALONG THE WESTERLY LINE OF SAID PARCEL 1 TO THE POINT OF BEGINNING. Attachment No. 6 -3 STATE OF CALIFORNIA COUNTY OF On before me, ) ss. (Print Name of Notary Public) personally appeared Steve Hull Notary Public, ❑ personally known to me -or ❑ proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is /are subscribed to the within instrument and acknowledged to me that he /she /they executed the same in his /her /their authorized capacity(ies), and that by his /her /their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature Of Notary Attachment No. 6 -4 Ty OF PTO., T.TFORNTA Redevelr',T° ,, Meeting Ile- - " £'T1ciN; - _ � IINUTES �= Moorpark, California OF THE REDEVELOPMENT AGENCY December 15, 2004 A Regular Meeting of the Redevelopment Agency of the City of Moorpark was held on December 15, 2004, 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 7:41 p.m. 2. ROLL CALL: Present: Agency Members Harper, Mikos, Millhouse, Parvin, and Chair Hunter. Staff Present: Steven Kueny, Executive Director; Hugh Riley, Assistant Executive Director; Nancy Burns, Senior Management Analyst; and Deborah Traffenstedt, Agency Secretary. 3. PUBLIC COMMENT: None. 4. PRESENTATION /ACTION /DISCUSSION: None. 5. CONSENT CALENDAR: MOTION: Agency Member Parvin moved and Agency Member Harper seconded a motion to adopt the Consent Calendar. The motion carried by unanimous roll call vote. A. Consider Approval of Minutes of the Regular Meeting of December 01, 2004. Staff Recommendation: Approve minutes. B. Consider Request by Catholic Charities of Ventura County to Utilize Funds from the Sublease of Space at the Moorpark Community Services Center and Food Pantry to the Moorpark Neighborhoods for Learning (NfL). Staff Recommendation: Approve the request by Catholic Charities to be released from the lease income designation requirement to set aside lease revenue I.l Lyl q' .11l^, Minutes of the Redevelopment Agency Moorpark, California Paae 2 from the Moorpark /Simi Valley campaign. 6. CLOSED SESSION: None was held. 7. ADJOURNMENT: December 1, 2004 (NfL) for a capital MOTION: Agency Member Parvin moved and Agency Member Harper seconded a motion to adjourn the meeting of the Moorpark Redevelopment Agency. The motion carried by unanimous voice vote. The time was 7:42 p.m. Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt Agency Secretary MINUTES OF THE REDEVELOPMENT AGENCY Moorpark, California January 5, 2005 A Special Meeting of the Redevelopment Agency of the City of Moorpark was held on January 5, 2005, 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 6:51 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; and Deborah Traffenstedt, Agency Secretary. 3. PUBLIC COMMENT: None. 4. PRESENTATION /ACTION /DISCUSSION: None. 5. CLOSED SESSION: Mr. Kueny requested that the Agency go into closed session for discussion of Item S.C. on the agenda. MOTION: Agency Member Millhouse moved and Agency Member Harper seconded a motion to go into closed session for discussion of Item S.C. on the agenda. The motion carried by unanimous voice vote. C. CONFERENCE WITH REAL PROPERTY NEGOTIATOR (Pursuant to Government Code Section 54956.8) Property: APN 512 -0 -091 -080 and APN 512 -0 -091 -100 Agency Negotiator: Steven Kueny, Executive Director Negotiating Parties: Redevelopment Agency of the City of Moorpark and Janss IV Recreation, Inc. (Theater on High /Larry Janss) 9001.1 !� Minutes of the Redevelopment Agency Moorpark, California Page 2 January 5, 2005 Present in closed session were P Mikos, Millhouse, Parvin, and Chair Executive Director; Joseph Montes, Riley, Assistant Executive Director; Development Director; and Deborah Secretary. gency Members Harper, Hunter; Steven Kueny, City Attorney; Hugh Barry Hogan, Community Traffenstedt, Agency At 7:15 p.m., Mr. Kueny requested the Agency recess the meeting and reconvene into closed session for discussion of Item S.C. at the conclusion of the City Council meeting. AT THIS POINT in the meeting, a recess was declared. The time was 7:15 p.m. The Special Agency meeting reconvened at 8:35 p.m. Chair Hunter stated for the record that the Agency would adjourn to closed session to continue its discussion of Item S.C. The Agency convened into open session at 8:50 p.m. Mr. Kueny announced that Item S.C. was discussed and that there was no action to report out of closed session. 6. ADJOURNMENT: Chair Hunter adjourned the meeting at 8:50 p.m. Patrick Hunter, Chair ATTEST: Deborah S. Traffenstedt Agency Secretary 1`11TY OF MOORPAQ'' " CALIFORNIA Redevelopment Ac-t,ncy Meeting Of �- /9-ao °s ACTION-.. _. 5.Is* , •�_ C �xc� .:,.- �rmaaca .s.+n.ws:.,- .»a�e«�r.a.., -. MOORPARK REDEVELOPMENT AGENCY AGENDA REPORT TO: Honorable Agency Board of Directors FROM: Hugh Riley, Assistant Executive Director DATE: December 29, 2004 (MRA Meeting of January 19, 2005) SUBJECT: Consider Resolution to Amend MRA FY 2004 -2005 Budget for Textbook and Tuition Reimbursement BACKGROUND Section 1004 of the 2004 Memorandum of Agreement (MOA) between the City and Service Employees International Union AFL -CIO, CLC, Local 998, which was executed on November 2, 2004, and ratified by the Council at a special meeting July 21, 2004, became effective retroactively on July 1, 2004. This MOA provides for an annual maximum reimbursement of $1,200 per fiscal year, and a lifetime maximum reimbursement of eligible tuition - related expenses in the amount of $6,000, an increase from the previous lifetime maximum of $4,000. Section 9 of Resolution No. 2004- 2220, adopted July 21, 2004, provides for tuition reimbursement for Management Employees and Department Heads that is consistent with rules approved by the City Council for Competitive Service employees. DISCUSSION At the time the Annual Operating Budget was prepared, staff participating in the City's Textbook and Tuition Reimbursement Program had reached the lifetime maximum reimbursement of $4,000, in effect at that time. Therefore, funds were not budgeted for additional textbook and tuition reimbursement. Increasing the budgeted amount for Education and Training Expenses by $1,200 will enable staff to obtain reimbursement for eligible expenses. ;?whs� or Honorable Agency Board of Directors January 19, 2005, Meeting Page 2 STAFF RECOMMENDATION (Roll Call Vote Required): Approve Resolution No. 2005 - as herein discussed. Attachment: Resolution No. 2005- to amend the budget by $1,200 with Budget Amendment RESOLUTION NO. 2005 - A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR 2004/2005 BUDGET BY APPROPRIATING $1,200 FROM THE HOUSING SETASIDE FUND FOR EDUCATION AND TRAINING EXPENSES WHEREAS, on June 16, 2004, the Moorpark Redevelopment Agency Board of Directors adopted the Moorpark Redevelopment Agency budget for Fiscal Year 2004/2005; and WHEREAS, the Redevelopment Agency of the City of Moorpark desires to extend the increased lifetime maximum employee benefit of textbook and tuition reimbursement to all staff; and WHEREAS, the former lifetime maximum reimbursement for eligible textbook and tuition reimbursement expenses had been reached by participating staff; and WHEREAS, the Board of Directors of the Redevelopment Agency of the City of Moorpark now wishes to amend the adopted budget by $1,200, to reflect the cost to extend the current maximum lifetime reimbursement to participating staff as stated above, from the Housing Setaside Fund. 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 $1,200 from the Housing Setaside Fund, for Education and Training, 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 19th day of January, 2005. Patrick Hunter, Chair I, 0 01 -"L1 0 K_;:. Resolution No. 2005 - Page 2 ATTEST: Deborah S. Traffenstedt, Agency Secretary Attachment: Attachment "A" - Budget Amendment Detail EXHIBIT A BUDGET AMENDMENT FOR MRA HOUSING 2004 -05 FUND ALLOCATION FROM: Fund Account Number Amount Housing Setaside Fund 2901 -5500 $ 1,200.00 $ 1,200.00 $ 1,700.00 Total $ 1,200.00 DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS: Account Number Current Budget Revision Amended Budget 2901- 2420 - 0000 -9222 $ 500.00 $ 1,200.00 $ 1,700.00 $ - Total $ 500.00 $ 1,200.00 $ 1,700.00 Approved as to Form: a6 1001ZI