HomeMy WebLinkAboutAG RPTS 2009 0401 RDA REGJ EETAsum
* Komxwe?
ryOfr
Resolution No. 2009 -208
MOORPARK REDEVELOPMENT AGENCY
REGULAR MEETING AGENDA
WEDNESDAY, APRIL 1, 2009
7:00 P.M.
Moorpark Community Center 799 Moorpark Avenue
CALL TO ORDER:
2. ROLL CALL:
3. PUBLIC COMMENT:
4. REORDERING OF, AND ADDITIONS TO, THE AGENDA:
5. PRESENTATION /ACTION /DISCUSSION:
A. Consider Acceptance of Deed and Resolution Authorizing the Acquisition of
Surplus Parcel No. DD- 2 -03 -01 from the Department of Transportation, and
Amending the Fiscal Year 2008/09 Budget by $1.854,000. Staff
Recommendation: 1) Adopt Resolution No. 2009 -_; 2) Authorize the
Executive Director to execute all documents necessary to this transaction;
and 3) Authorize the Agency Secretary to accept and consent to the
recordation of any deed. ROLL CALL VOTE REQUIRED (Staff: David
Moe)
B. Consider Reconsideration of Item S.A. on March 18, 2009 Agenda and
Reconsideration of Vote on Item S.A. (Approval of High Street Streetscape
Concept). Staff Recommendation: Direct staff as deemed appropriate.
(Staff: Barry Hogan)
6. CONSENT CALENDAR: (ROLL CALL VOTE REQUIRED)
A. Consider Minutes of Regular Meeting of March 18, 2009. Staff
Recommendation: Approve the minutes.
Redevelopment Agency Agenda
April 1, 2009
Page 2
6. CONSENT CALENDAR: (continued)
B. Consider Resolution Amending Fiscal Year 2008/09 Budget for Up to
$47,400.00 to Am)roviate Funds for UndergroundinQ Power Lines on the
West Side of Park Lane. at Park Crest Lane. Staff Recommendation: 1)
Adopt Resolution No. 2009 -, approving a budget amendment for up to
$47,400.00; 2) Authorize the Executive Director to reimburse Helen Rabano
(HFR Investment I, LLC) in the amount of $34,681.24 ($47,386.90 less
$12,705.66) for undergounding of utility lines; and 3) Authorize the Executive
Director to reimburse Tuscany Square Partners in the amount of $12,705.66
for improvements to Park Crest Lane and Park Lane. ROLL CALL VOTE
REQUIRED (Staff: David Bobardt)
C. Consider Request to Waive Rental Fees for the Hioh Street Arts Center
H( SAC). Staff Recommendation: Waive the $400 rental fee as requested by
the Moorpark Chamber of Commerce and direct staff to draft a policy for
allowing the HSAC's rental fee to be waived for certain events. (Staff:
David Moe)
D. Consider Loan Agreement in Amount of $350,000.00 with the Area Housing
Authority of the County of Ventura (AHA) for Predevelopment Exoenses.
Staff Recommendation: 1) Approve Agency predevelopment loan to the
AHA in the amount of $350,000.00; and 2) Direct the Executive Director to
execute predevelopment loan agreement, subject to final language approval
of the Executive Director and Agency Counsel. ROLL CALL VOTE
REQUIRED (Staff: David Moe)
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)
8. ADJOURNMENT:
Redevelopment Agency Agenda
April 1, 2009
Page 3
All writings and documents provided to the majority of the Agency regarding all open - session agenda items are
available for public inspection at the City Hall public counter located at 799 Moorpark Avenue during regular
business hours. The agenda packet for all regular Redevelopment Agency meetings Is also available on the
City's website at www.ci.mooroark.ca.us.
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 bythe City
Clerk for Public Comment prior to the beginning of the Public Comments portion of the meeting; for a
Presentation/Action/Discussion item, prior to the Chair's call for speaker cards for each Presentation /Action/
Discussion agenda item; and for a Public Hearing item, prior to the opening of each Public Hearing, or beginning
of public testimony for a continued 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. Any questions concerning any
agenda item may be directed to the City Clerk's office at 517 -6223.
In compliance with the Americans with Disabilities Act, If you need special assistance to review an agenda or
participate in this meeting, including auxiliary aids or services, please contact the City Clerk's Division at (805)
517.6223. Upon request, the agenda can be made available in appropriate alternative formats to persons with a
disability. Any request for disability- related modification or accommodation should be made at least 48 hours
prior to the scheduled meeting to assist the City staff in assuring reasonable arrangements can be made to
Provide accessibility to the meeting (28 CFR 35.102 - 35.104; ADA Title II).
Redevelopment Agency Agenda
April 1, 2009
Page 4
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) ss
CITY OF MOORPARK 1
AFFIDAVIT OF POSTING
I, Maureen Benson, declare as follows:
That I am the Assistant City Clerk of the City of Moorpark and that a notice for a Regular
Meeting of the Moorpark Redevelopment Agency to be held Wednesday, April 1, 2009, at
7:00 p.m. in the Council Chambers of the Moorpark Community Center, 799 Moorpark
Avenue, Moorpark, California, was posted on March 27, 2009, 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 March 27, 2009.
Maureen Benson, Assistant City Clerk
ITEM
5.A.
CITY OF MOORPARK, CALIFC
Redeveloper ^nt Agency Mx
- /_RIO0
ON
(/7
0"1009 —a0
MOORPARK REDEVELOPMENT AGENCY
AGENDA REPORT
To: Honorable Agency Board of Directors
From: David C. Moe II, Redevelopment Manager U
Date: March 20, 2009 (Agency Meeting of 4/1/09)
Subject: Consider Approving Acceptance of Deed and Resolution Authorizing
the Acquisition of Surplus Parcel No. DD- 2 -03 -01 on Los Angeles
Avenue in Moorpark, from the Department of Transportation, and
Amending the Budget for Fiscal Year 200812009 by $1,854,000
BACKGROUND AND DISCUSSION
Staff has determined that the acquisition of this property on Los Angeles Avenue, by the
Redevelopment Agency, is consistent with the goals and objectives in the Moorpark
Redevelopment Plan. The purpose of the proposed acquisition is to acquire property
needed for redevelopment purposes. The 1.9 acre property is currently designated as a
CPD (Commercial Plan Development) Zoning Area. It formerly served as a Caltrans
Maintenance Yard. but has been unoccupied for several years.
FISCAL IMPACT
A budget appropriation is needed in the amount of $1,854,000 to effect this transaction.
This includes a deposit of $185,400 plus $1,668,600 for the final payment.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
1. Adopt Resolution No. 2009 —
2. Authorize the Executive Director to execute all documents necessary to this
transaction, and
3. Authorize the Agency Secretary to accept and consent to the recordation of any
deed.
Attachment "A" Resolution No. 2009 -
11000001
ATTACHMENT A
RESOLUTION NO. 2009 -
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF MOORPARK. CALIFORNIA, AMENDING THE FISCAL
YEAR 2008/2009 BUDGET BY APPROPRIATING $1,854,000
FROM THE MRA 2001 TAX ALLOCATION BOND PROCEEDS
FUND (2904) FOR ACQUISITION OF SURPLUS PARCEL DD -2-
03-01 ON LOS ANGELES AVENUE, MOORPARK
WHEREAS, on July 2, 2008, the Moorpark Redevelopment Agency Board of
Directors adopted the Moorpark Redevelopment Agency budget for Fiscal Year
2008/2009; and
WHEREAS, the Redevelopment Agency of the City of Moorpark desires to
purchase property known as Surplus Parcel No. DD- 2 -03 -01 in the City of Moorpark, for
redevelopment purposes; and
WHEREAS, the Board of Directors of the Redevelopment Agency of the City of
Moorpark now wishes to amend the adopted budget to reflect the cost to purchase
Surplus Parcel No. DD- 2- 03 -01, for the acquisition cost of $1,854,000 from the MRA
2001 Tax Allocation Bond Proceeds 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 $1,854,000 from the
MRA 2001 Tax Allocation Bond Proceeds Fund, for Property Acquisition, 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 151 day of April, 2009.
Janice S. Parvin, Chair
ATTEST:
Deborah S. Traffenstedt, Agency Secretary
Attachment: Exhibit "A" — Budget Amendment Detail
t,ouut►2
EXHIBIT A
BUDGET AMENDMENT FOR MRA 2001 TAX ALLOCATION BOND PROCEEDS
FUND TO ACQUIRE SURPLUS PARCEL NO. DD- 2 -03 -01 ON LOS ANGELES AVENUE, MOORPARK
2008/09
FUND ALLOCATION FROM:
Fund
Account Number
Amount
MRA 2001 Tax Allocation Bond
2904 -5603
$ 1 854.000 00
Proceeds
$ 1 854 000 00
Total
$ 1.854.000 00
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Account Number
Current Budget
Revision
Amended Budget
2904 -2410- 0000 -9610
$
$ 1.854.000 00
$ 1 854 000 00
Total
$
$ 1,854.000 00
$ 1.854.000 00
Finance Approval ^ A""
0000V3
rFEM
5. B.
CITY OF m 1ORPARK, CAUFC
Redevele ^ntAgencyli
�F- /'sT 009
AU 1; qN.
MA
LIE
MOORPARK REDEVELOPMENT AGENCY
AGENDA REPORT
TO: Honorable Agency Board of Directors
FROM: Barry Hogan, Deputy City Manag J511i
DATE: March 24, 2009 (MRA Meeting of 4/1/2009)
SUBJECT: Consider Reconsideration of Item 5.A. on March 18, 2009 Agenda
and Reconsideration of Vote on Item 5.A. (Approval of High Street
Streetscape Concept)
BACKGROUND
On March 18, 2009 the Agency considered the conceptual plans for the High Street
Streetscape and directed staff to move forward on requests for proposals for the straight
alignment. There was considerable discussion regarding the various aspects of both
concepts. This item has been placed on the Redevelopment Agency agenda at the
request of Chair Parvin for reconsideration. The Agency rules require that an
agencymember who voted in the majority may request reconsideration of an agenda
item at the same meeting or at the next regularly scheduled meeting.
Resolution 2006 -2476 adopted June 21, 2006 sets for the rules for the City Council and
the Moorpark Redevelopment Agency to operate by. Reconsideration of a motion is
covered by two areas of the Resolution which are excerpted below"
The Motion to Reconsider: the motion can be made when any other
motion is before the assembly, but cannot be acted upon until the
business then before the assembly is disposed of, when called up, it takes
precedence over all other motions, except to adjourn, and to fix the time to
which to adjourn.
7.12 Motion for Reconsideration:
Any Councilmember who voted with the majority may move a
reconsideration of any vote at the same meeting or request an agenda
item on the next regular meeting or request a special meeting called to be
held prior to the next regular meeting to consider reconsideration of any
000004
Honorable Agency Board of Directors
Aprill, 2009
Page 2
vote. The agenda item shall appear on Presentation /Action /Discussion as
a two -part item, e g ,
Consider Reconsideration of
Reconsideration of vote on
After a motion for reconsideration has once been acted upon, no
other motion for a reconsideration thereof shall be made without
unanimous consent of the Council.
Chair Parvin has indicated her request for consideration is to allow for additional public
input by not only the High Street property and business owners but also the general public.
If reconsideration is approved she proposes that the Agency hold a public meeting jointly
with the City Council and Planning Commission (This would also serve as the annual
Council /Planning Commission joint meeting in lieu of the joint City Council /Planning
Commission meeting on April 8) on either April 22 or April 29 to foster additional public
input with formal reconsideration by the Agency on May 6.
If the Agency concurs with Chair Parvin's request, the following actions should be taken:
1 Approve reconsideration of Item S.A. on March 18, 2009, agenda,
2 Approve reconsideration of vote on Item 5 A on March 18. 2009 agenda,
3. Schedule joint special meeting of Redevelopment Agency /City Council /Planning
Commission for April 22 or 29, 2009 at 7 00 p m
4 Reschedule joint special meeting of City Council /Planning Commission from April 8
to April 22 or 29, 2009 (same date as joint special meeting with Agency) at 7:30
p M.
STAFF RECOMMENDATION
Direct staff as deemed appropriate.
S �Com^•wry Deve:oc ^en:1H gd S:,eep.Moss Des gns`A90401 CC Reoo.rt Co
+)UUU +' S
CITY OF M IORPARK, CALIFC
Redewlr -nt Agemy Mer
q ITcM b•A.
"0100 9
AGiwN:_ba��....
MINLITES OF THE REDEVELOPMENT AGENCY
dY:
March 18, 2009
A Regular Meeting of the Redevelopment Agency of the City of Moorpark was held on
March 18, 2009, in the Community Center of said City located at 799 Moorpark Avenue,
Moorpark, California.
CALL TO ORDER:
Chair Parvin called the meeting to order at 7:47 p.m.
2. ROLL CALL:
Present: Agency Members Lowenberg, Mikos, Millhouse, Van Dam,
and Chair Parvin.
Staff Present: Steven Kueny, Executive Director; Hugh Riley, Assistant
Executive Director; Barry Hogan, Deputy City Manager;
Maureen Benson, Assistant City Clerk; and Blanca Garza,
Deputy City Clerk.
3. PUBLIC COMMENT:
None.
4. REORDERING OF, AND ADDITIONS TO, THE AGENDA:
None.
5. PRESENTATION /ACTION /DISCUSSION:
A. Consider ADDroval of Hiah Street Streetscape Concept. Staff
Recommendation: 1) Select the Curvilinear Alignment as the concept for
High Street Streetscape; and 2) Direct staff to request proposals for
construction drawings for implementation of the High Street Streetscape
selected concept.
Mr. Hogan gave the staff report and read into the record, late
correspondence from the Aszkenazy Development, Inc., indicating support
for the straight alignment on High Street.
A discussion followed among the Councilmembers and staff regarding
location of parking spaces on the curvilinear alignment; number of parking
spaces on straight vs. curvilinear alignment; acquiring City ownership of
street lights where banners could be hung; request for proposal to present
()UUU06
Minutes of the Redevelopment Agency
Moorpark, California Page 2 March 18 2009
development quotes for phases and for overall project; which affect the
staff recommendation and are reflected in the motion below.
William Amador, High Street business owner, spoke in favor of the
retaining existing light fixtures to save on cost, the use of high quality
product for the development, and lowering the height of outdoor fencing
for sidewalk eateries; expressed concerns about the safety of one
intersection with the curvilinear alignment; and requested an additional
meeting of the business owners with staff once the details of the plan are
available.
Will Whitaker, High Street business owner, agreed with the Aszkenazy
comments for the straight street alignment and concurred with Mr.
Amador's comments.
Colin Velazquez, High Street business owner, spoke in favor of the
straight alignment; concurred with Mr. Amador's safety concerns regarding
the intersection in the curvilinear alignment; and promoted phasing of the
project to coordinate with the development on the south side of High
Street. He suggested a Project Area Committee be formed for the
downtown area.
Jean Amador, High Street business owner, spoke in favor of the
curvilinear plan, but if the straight alignment is chosen, incorporate
aspects of the curvilinear design to create the same environment. She
recommended using pavement textures for traffic calming.
A discussion followed among the Councilmembers and staff regarding the
number of angle parking spaces vs. parallel parking spaces on the straight
alignment, and four -way stops at internal intersections to be considered in
the future by the Traffic Safety Committee
MOTION: Agency Member Millhouse moved to approve staff recommendation to
request proposals for construction drawings for implementation of the High Street
Streetscape using the straight alignment with angled parking.
Councilmember Mikos stated she would second the motion if
Councilmember Millhouse would add consideration proposals for "all in
one" and "phased" costs along with incorporating elements of the
curvilinear alignment into the straight alignment streetscape.
AMENDED MOTION: Agency Member Millhouse amended the motion and
Councilmember Mikos seconded the amended motion to: 1) Select the linear
alignment as the High Street Streetscape concept with consideration of elements
of the curvilinear design to effectuate traffic calming, making it more pedestrian
friendly, with parking on the north side to include angle parking; and 2) Direct
staff to request proposals for construction drawings for implementation of the
+►00007
Minutes of the Redevelopment Agency
Moorpark California Page 3 March 18, 2009
High Street Streetscape linear alignment, recognizing these drawings will be
presented to the Council in such, that if Council decides to do phased
implementation there are "phased costs" as well as "all in one costs ". The motion
carried by unanimous voice vote.
6. CONSENT CALENDAR: (ROLL CALL VOTE REQUIRED)
MOTION: Agency Member Millhouse moved and Agency Member Van Dam seconded
a motion to approve the Consent Calendar. The motion carried by unanimous roll call
vote.
A. Consider Minutes of Regular Meeting of February 18, 2009. Staff
Recommendation: Approve the minutes.
B. Consider California Redevelopment Association (CRA) Reguest for
Financial Support for Legal Services. Staff Recommendation: Provide
financial support in the amount of $281.00 to the CRA to assist with the
suit against the State of California.
C. Consider Granting Sidewalk Easements to the City of Moorpark on
Agency Owned Property Located at 1063, 1073, 1095, 1113, 1123, 1293,
and 1331 Walnut Canyon Road. Staff Recommendation: Approve
granting sidewalk easements to the City of Moorpark and authorize the
Executive Director to execute any documents need to affect this
transaction.
D. Consider Award of Contract for the Walnut Canyon Storm Drain
Improvements/West High Street Rehabilitation & Parking Lot Project
(Project 5052) and Resolution Amending the Fiscal Year 2008/09 Budget
to Appropriate Funds for the Project. Staff Recommendation: 1) Waive a
minor irregularity addressed in the agenda report and award a contract to
Toro Enterprises, and authorize the Executive Director to execute the
construction contract in the amount of $1,153,058.50 for the subject
project; 2) Authorize the Executive Director to amend the construction
contract for project contingencies in an amount not -to- exceed $115,000, if
and when the need arises for extra work and services; 3) Authorize the
Executive Director to sign a consultant agreement with RJR Engineering
Group for inspection, geotechnical observation, and testing services in an
amount not -to- exceed $55,000; 4) Authorize the Executive Director to sign
a consultant agreement for survey services in an amount not -to- exceed
$20,000; and 5) Adopt Resolution No. 2009 -207, amending the FY
2008/09 Budget to fund Project 5052. ROLL CALL VOTE REQUIRED
7. CLOSED SESSION:
None was held.
f100008
Minutes of the Redevelopment Agency
Moorpark, California Page 4 March 18, 2009
8. ADJOURNMENT:
MOTION: Agency Member Millhouse moved and Agency Member Van Dam seconded
a motion to adjourn the meeting of the Moorpark Redevelopment Agency. The motion
carried by unanimous voice vote. The time was 9:09 p.m.
Janice S. Parvin, Chair
ATTEST:
Deborah S. Traffenstedt
Agency Secretary
M0009
ITEM "5.
CITY OF N. )ORPARK, CAUFC
Redevek nt Agony Mee
AG i IJN.�
MOORPARK REDEVELOPMENT AGENCY
AGENDA REPORT
TO: Honorable Agency Board of Directors /J
FROM: David A. Bobardt, Planning Director
Prepared by: Joseph Fiss, Principal Planner /
DATE: March 18, 2009 (CC Meeting of 4/1/09)
SUBJECT: Consider Resolution Amending Fiscal Year 2008/2009 Budget for up
to $47,400.00 to Appropriate Funds for Undergrounding of Power
Lines on the West Side of Park Lane, at Park Crest Lane
DISCUSSION
On November 2, 2005, the City Council approved Commercial Planned Development
(CPD) No. 2005 -03 for a 15,505 Sq. Ft. Office Building on One -Acre at 145 Park Lane.
As part of this approval, the applicant. Helen Rabano (HFR Investment I. LLC), was
conditioned to underground the lines on three remaining above - ground power poles on
the west side of Park Lane, at Park Crest Lane.
The Moorpark Municipal Code and the project's conditions of approval require that,
upon development of this lot, utility lines. including. but not limited to, electric.
communications, street lighting and cable television lines, shall be placed underground.
During the development process. the applicant completed undergrounding the power
lines affected by this project at a cost of $142,160.69 This undergrounding included
one additional power pole, in front of the adjoining Lutheran Church to the north, which
completes the undergrounding of all the lines on Park Lane. The applicant completed
this undergrounding at her own cost with the understanding that a request for
reimbursement from the Moorpark Redevelopment Agency could be made and would
be supported by staff. The applicant has requested a reimbursement for the pole that
was not fronting her property, in the amount of $47,386.90. This is one -third the cost for
undergrounding the lines on three poles The request letter is attached. The
documentation referred to in this letter can be found in the project file.
(00/)10
Honorable Agency Board of Directors
March 18, 2009
Page 2
The Municipal Code allows that, when it is found that the strict enforcement of these
provisions may cause undue hardship. these requirements may be waived, in whole or
in part The City Engineer has reviewed and verified the accuracy of the expenditures
During the development of this project and the Tuscany Square project, a certain
amount of street overlay was required due to utility cuts in the street at the intersection
of Park Lane and Park Crest Lane. Tuscany Square in good faith effort working with
HFR Investment share for this work is $12,705.66 and it is recommended that this
amount be refunded to Tuscany Square. Staff recommends holding this amount back
from the recommended refund to HFR Investment I. LLC in order to complete the proper
reimbursement to Tuscany Square Partners for this work.
FISCAL IMPACT
Approval of this request would require a budget amendment in the amount of $47.400.
A budget amendment resolution is attached.
STAFF RECOMMENDATION (Roll Call Vote Required)
1 Adopt Resolution No. 2009 - approving a budget amendment for up to
$ 47,400.00
2 Authorize the MRA Executive Director to reimburse Helen Rabano (HFR
Investment I, LLC) in the amount $34,681.24 ($47,386.90 less $12,705.66) for
undergrounding of utility lines.
3 Authorize the MRA Executive Director to reimburse Tuscany Square Partners in
the amount of $12.705.66 for improvements to Park Crest Lane and Park Lane.
ATTACHMENTS:
1 Location Map
2 Applicants Request and Background Information
3 Draft Resolution with Appropriation and Budget Detail
1100011
S ACC ^mur y Deve cor- eo'\DEV PM I S•.0 P D'2005%03 'ne Rera ssarce @ Park LarekAgenaa Rp:s%cc agerca recer. 0'0709 acc
Honorable Agency Board of Directors
March 18, 2009
Page 2
- --- -UnIeW Ave
- - -Amev Weak Ave - - -- I
r
a
a
-.._ Mlle CampeWAR-Ave --
I
145, ..' -
Park
—Lan --- PerkOest Ln —
Mo pack ,
I /
I
1 1
r 1 1
1 �
1 1
1 1 1
1 �
1 1
- -'
LOCATION MAP
MRA ATTACHMENT 1
')00012
S 1Ce ^m, nity Deveioame ^RDCV PM-S`•C' D%2005`03 I-e Re-alssa -ce a Pan LanexAgegaa Rplslcc agenda reaoc C107• -C9 dac:
October 20, 2008
Moorpark City Council
799 Moorpark Road
Moorpark, Califncmie 93021
Re: 145 Parklanc (Renaissance at Parklanc)
Gentlemen
As you are aware, at the time of approval of the above project, two utility poles were required to be
undergrounded as a condition of development. The work was completed in June and the documentation for the
work is attached. Tho final cost of this requirement is $142,160.69 which includes the third pole rat previously
required. As such. I hereby respectfully request the Council for reimbursement of 1/f of this cost to cover the
thirst pole.
Additionally, 1 was required to create an easement for pedestrian access through the northside of the property.
Not only did I not spend a substantial amount to build this walkway but since completion. graffiti has been a big
problem than was created by providing this gateway to 0e residential neighborhood behind my property. I can nor
afford to continue covering the added costs for clean up. More importantly, the concerns from prospective tenants
h ampm my ability to ]case the building. I am doing everything I can to create some defenses but 1 need help
from the City since this was the City's requirement.
The very difficult economic environment we are in tremendously impacts small developers such as myself that got
caught in the downturn. Therefore, I ask that the Council review my request for assistance in reimbursement of a
portion of the utility pole undergroanding costs as well as provide a solution to the graffiti problem.
V ly yHel n P. K
Ow r
The documentation referred to in this letter can be found in the project file
MRA ATTACHMENT 2 "00013
RESOLUTION NO 2009-
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF MOORPARK, CALIFORNIA, AMENDING
THE FISCAL YEAR 2008/09 BUDGET TO APPROPRIATE
FUNDS FROM THE MOORPARK REDEVELOPMENT
AGENCY 2001 TAX ALLOCATION BOND PROCEEDS, IN
THE AMOUNT OF $47.400.00 FOR UNDERGROUNDING
OF POWER LINES ON THE WEST SIDE OF PARK LANE,
AT PARK CREST LANE
WHEREAS. on July 2. 2008 the Board of Directors adopted the Agency budget
for Fiscal Year 2008/09. and
WHEREAS, on April 1, 2009, a staff report was presented to the Board of
Directors requesting a budget appropriation in the aggregate amount of $47,400.00
from the Moorpark Redevelopment Agency 2001 Tax Allocation Bond Proceeds Fund
(2904); and
WHEREAS, Exhibit "A" attached hereto and made a part hereof, describes said
budget amendment and its resultant budget impacts to the budget line item(s).
NOW, THEREFORE. THE REDEVELOPMENT AGENCY OF THE CITY OF
MOORPARK, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That a Budget appropriation in the aggregate amount of
$47,400.00 as more particularly described in attached Exhibit "A', 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 15' day of April. 2009.
Janice S. Parvin, Chair
ATTEST:
Deborah S. Traffenstedt, Agency Secretary
Exhibit "A ": Appropriation and Budget Detail
11100014
MRA ATTACHMENT 3
Resolution No 2009 -
Page 2
cn:3rr_�
BUDGET AMENDMENT FOR THE MOORPARK
REDEVELOPMENT AGENCY 2001 TAX ALLOCATION
BOND PROCEEDS FUND FOR UNDERGROUNDING
OF POWER LINES ON THE WEST SIDE OF PARK
LANE, AT PARK CREST LANE
FY 2008 -2009
FUND ALLOCATION FROM
Fund Account Number
M RA 2001 Tax 2904 -5500
Allocation Bond
Proceeds Fund
Amount
$47,400.00
-L. -
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS
Account Number
2904 - 8410 - 0000 9480_
Current_ Bud et Revision Amended Budget
000 $47,400.00 S47,400.00 A
Finance Approval: /Y"'t
000015
S lCo ^m:n,ty Develop ^en:`.;)FV PMTS',C P D1,2005:C3 -ne Rena,ssance Ca Pak Lare'J2eso\CC Reso 1 7 09 doc
FTEM
L.G.
CITYOfW 0N0ARK,CAUFC
ReMwlr ntAgencyMer
� -i aooq
A� nvN
ar. kill a
MOORPARK REDEVELOPMENT AGENCY
AGENDA REPORT
To: Honorable Agency Board of Directors
From: David C. Moe II, Redevelopment Manager
w�
Date: March 20, 2009 (Agency Meeting of 4/1/09)
Subject: Consider Request to Waive Rental Fees for the High Street Arts
Center
BACKGROUND & DISCUSSION
Staff received a letter from Patrick Ellis, President/CEO, of the Moorpark Chamber of
Commerce ( "Chamber ") dated March 18, 2009 (Exhibit A). The letter explains the
Chamber's intent to hold a special Candidate Forum at the High Street Arts Center
( "HSAC ") for the upcoming special election to fill Mayor Janice Parvin's vacated City
Council seat. The Chamber would like to conduct the event on April 21, 2009, from
6:00 p.m. to 10:00 p m.
The letter states that the Chamber is a non - profit organization without sufficient funds to
pay the rental fee of $400 ($100 rental, $150 sound board operator and $150 cleaning).
The Chamber does not want to discourage public attendance by asking Moorpark
residents to pay at the door to attend the event. Therefore, the Chamber is asking the
Redevelopment Agency of the City of Moorpark ( "Agency ") to waive the rental fee.
The Agency does not have a policy or a set of guidelines for waiving HSAC rental fees
for certain events or organizations. The Agency Board will need to direct staff as
deemed appropriate for the matter.
Waiving the rental fee is another opportunity to have Moorpark residents visit and
become familiar with the HSAC. However, it may also have a rippling effect for the
HSAC rental revenue. Many of the rentals at the HSAC are non - profit organizations;
some serving only Moorpark residents. Waiving the rental fee for the Chamber may set
precedence for other non - profit organizations to also request the Agency to waive the
rental fee for their event.
1100016
Honorable Agency Board of Directors
April 1, 2009
Page 2 of 2
FISCAL IMPACT
Rental revenue for the HSAC is not achieving projected numbers in the 2008/09 Agency
Budget. Rental revenue is the only revenue stream for the HSAC that is not increasing
year after year and is one of the reasons staff believes the total revenue of the HSAC
will be lower than the previous year.
The short term fiscal impact of waiving the rental fee for the Chamber's event is minimal
and can be absorbed within the Agency 2008/09 Budget. However, setting precedence
for waiving fees for a special event may reduce future rental revenue for the HSAC.
STAFF RECOMMENDATION
Waive the $400 rental fee as requested by the Chamber and direct staff to draft a policy
for allowing the HSAC's rental fee to be waived for certain events.
Exhibit A Letter from Moorpark Chamber of Commerce
t )UUUi'7
oorpark
Chamber of Commerce
1 k n1gh s1
M «spark. ('A 91041
Officc 50' ;]9.032.'
Fix. 51);.:_o.
a x,o \tu,rtp.akQWjph, r rum
Chairman
Dale Par%in.
Rota,, ('Iuh of Mrwrmark
Chair -Elect
March 18, 2(x)()
Mr. Steve Kueny
City of Moorpark
799 Moorpark A%c
Moorpark. CA 93021
i
Dear Mr. Kucm,
EXHIBIT A
Rewlvsd
MAR 19 1009
A"S%nt City Managers oft*
Doug Ridley, The Moorpark Chamber of Commerce would like to hold a special Candidates Forum
owscrthcry. wdie� ,k sh3uman I.IT for the upcoming special election for the City Council seat vacated by Janice Marvin.
We would like to have the forum at the I ligh Street Arts Center on the evening of'
Directors April 21" from approximately 6:00 to 10:(x1pm. As a non - profit organization we do
Eric Arnaud, not have funds to pay for this type of an event and do not want to charge the public to
attend this event, which should be available to ever)one. We would ask that the City
l loop Rcal coal:
of Moorpark please waive the fees associated with using the High Street Arts Center.
Jeremy Brewer, Thank you for your time and attention and I look forward to hearing from you soon.
Sim, %alla. If ... p1;J1
David Crockett,
Pn maicr
Sue FilzGerald,
I he 11mrcu7 Place
Gary L menberg, Best regard,.;,
Righiwa) li normal
Linda McCarthy,
R \I. Buena, Sc(wotk lml 4 �*_
Clark Keel, Patrick Lillis
PresidenUCEO
Lynda Rumrnelhofi,
Simc farm In,mance
IJ Stevens,
16¢h Sirw Aft,( emcr
Trixy Weiss,
Gcnc >u ( aptlal Mm;pge
Harry %%ilson,
Ka, ho,
Staff
Patrick Ellis,
14caJem ('LO
Jerri Hatzenbiler,
P sc•amx r Ansi "ant
fe k^
000015
ITEM to •'I)
CITYO►tr ORPARK,CALIFC
Redevel, nt Agency MeF
dl / ;Zoo 9
er.
MOORPARK REDEVELOPMENT AGENCY
AGENDA REPORT
To: Honorable Agency Board of Directors
From: David C. Moe II, Redevelopment Manager �L
Date: March 25, 2009 (Agency Meeting of 411/09)
Subject: Consider Loan Agreement in the Amount of $350,000.00 with the
Area Housing Authority of the County of Ventura for Predevelopment
Expenses
BACKGROUND
In accordance with the Development Agreement dated August 30, 2007, Toll Land XX
Limited Partnership has acquired the properties of 396, 406 and 436 Charles Street
( "Properties "), totaling approximately 36,590 square feet, to satisfy a portion of their
affordable housing requirement for Tract 5463 and 5464, and transferred the Properties
on April 10, 2008 to the City of Moorpark. Prior to development, the City of Moorpark
will transfer the Properties to the Redevelopment Agency of the City of Moorpark for
development of an affordable housing project.
DISCUSSION
On December 27, 2007, the Agency entered into an Exclusive Negotiating Agreement
( "ENA ") with the Area Housing Authority of the County of Ventura ( "AHA ") to develop a
conceptual plan for an affordable housing project on the Properties. The ENA resulted
in a podium project consisting of 21 units with assigned covered parking underneath the
building. The project would be 100% affordable and have a mixture of one, two and
three bedroom units, ranging in size from 870 -1100 square feet.
In order to proceed with the project, the AHA needs funds for financing predevelopment
expenditures to fully entitle the project and apply for tax credits in October 2009. Failure
to meet the October 2009 submiftal date may be detrimental to the project as the tax
credit market for next year is unpredictable. Staff is proposing the Agency provide the
AHA with a loan (Exhibit A) to finance the predevelopment costs of the project. The
loan would not require any payments and would be repaid with the first draw of the
WA) 19
construction loan for the project. Interest on the loan would accrue quarterly and the
rate would be based on the quarterly Local Agency Investment Fund (LAIF) rate.
If the project does not materialize, the loan would turn into a grant. The documents,
plans and studies financed by the loan would be the sole property of the Agency. This
will give the Agency the ability to negotiate with other developers in an effort to
complete the project and the possibility to be repaid for the predevelopment loan.
FISCAL IMPACT
The Agency does not have $350,000.00 allocated for a predevelopment loan in the
2008/09 Budget and currently does not have sufficient Housing Set -a -side funds
available to finance the loan. The Agency Bond Fund has a balance of $3,086,197.74.
An internal loan will be made from the Agency Bond Fund to provide the funds needed
for the predevelopment loan.
STAFF RECOMMENDATION (ROLL CALL VOTE)
1. Approve Agency predevelopment loan to the AHA in the amount of $350.000.00:
and
2. Direct Executive Director to execute predevelopment loan agreement subject to
final language approval of the Executive Director and Agency Counsel.
Exhibit A: Draft Predevelopment Loan Agreement
()UU 20
LOAN AGREEMENT
THIS LOAN AGREEMENT (the "Agreement ") is entered into as of
2009. by and between the REDEVELOPMENT AGENCY OF
THE CITY OF MOORPARK, a public body, corporate and politic (hereinafter the
"Agency "), and Area Housing Authority of the County of Ventura (hereinafter the
"Developer "), with reference to the following facts:
RECITALS:
A. The Agency and the Developer are jointly working together to develop
Twenty -one (21) residential rental units ('Project ") on Agency owned property located
on the south side of Charles Street generally between Magnolia Street and Spring Road
in the City of Moorpark;
B. The Agency has agreed to make a loan to the Developer to assist the
Developer in predevelopment cost of the Project; and
C. The Agency and the Developer are entering into this Agreement for the
purpose of setting forth the terms and conditions on which the Agency will make the
loan to the Developer.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants. representations
and provisions contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:
1. Loan. The Agency agrees to make the loan to the Developer on and
subject to the terms and conditions set forth in this Agreement.
A. Amount of the Loan. The loan will be in the principal amount of
$350,000.00 (the "Loan "), and, subject to the terms and conditions set forth in this
Agreement.
B. Terms of Loan. The Loan will be for a term of two (2) years and will
be evidenced by a Promissory Note (the "Note ") in the form attached to this Agreement
as Exhibit "A ". The loan will bear interest at the rate of interest paid in the Local Agency
Investment Fund (LAIF), and will be subject to prepayment, in whole or in part, at any
time without any penalty or additional fees, and shall have the other terms and
provisions, all as more particularly set forth in the Note. This Agreement and Note are
collectively referred to as the "Loan Documents'.
2. Predevelopment reports, surveys and studies. Upon completion of each
predevelopment report, survey, plan and study ( "Predevelopment Documents "), the
Developer shall provide the original document to the Agency. The Agency shall
Area Housing Authority Loan Agreement 1 4 K;0 21
become the sole owner of the Predevelopment Documents. AHA will include language
in its professional services agreements related to the project to effectuate this
requirement.
3. Closing Conditions. The funding and release of the Loan proceeds to the
Developer shall, unless waived by the Agency, be subject to the satisfaction by the
Developer of each of the following conditions:
3.1 Performance of Agreements. Developer shall not be in default
under this Agreement and shall have performed all of its obligations theretofore to be
performed under this Agreement.
3.2 Accuracy of Representations. The representations and warranties
of the Developer contained in this Agreement shall be true and correct in all material
respects as of the Closing Date.
3.3 Proceedings Satisfactory. All proceedings to be taken in
connection with the transactions contemplated by this Agreement and all documents
incident to this Agreement shall be satisfactory in form and substance to the Agency.
3.4 Execution and Delivery. The original of the Note. duly executed by
the Developer, shall have been delivered to the Agency.
4. Representations and Warranties. Developer represents and warrants to
the Agency that:
4.1 Organization and Authority. Developer is a corporation duly
organized, validly existing and in good standing under the laws of the State of
California, and has all requisite right, power and authority to execute and deliver the
Loan Documents and to perform all of its obligations under the Loan Documents.
4.2 Due Execution, Enforceability. The Loan Documents have been
duly authorized. executed and delivered by Developer and constitute the legal, valid and
binding obligation of Developer enforceable against it in accordance with its terms.
4.3 No Conflict. Neither the execution and delivery of the Loan
Documents, nor the performance by it of its obligations thereunder, will conflict with or
result in a breach of or a default under its articles of incorporation or bylaws or any law,
rule, regulation, judgment, order or decree or any mortgage, deed of trust, loan
agreement or other agreement or instrument to which it is a party or by which it or its
properties are bound.
4.4 Pending Litigation. There are no actions, suits, investigations or
proceedings pending or, to the knowledge of Developer, threatened against Developer,
or its business or properties, before or by any court or governmental board or body
which if determined adversely to Developer would have a material and adverse effect
Area Housing Authority Loan Agreement (' () or; 46
upon its business or properties or its ability to perform its obligations under any of the
Loan Documents.
4.5 Accuracy of Information. All financial and other information
supplied by or on behalf of Developer to the Agency is accurate in all material respects
and does not omit to state any facts necessary to make the information contained
therein not materially misleading.
5. Use of Loan Proceeds. Developer agrees that the Loan proceeds are to
be used solely to defray costs and expenses in connection with predevelopment costs
associated with the Project.
6. Events of Default. An "Event of Default" shall exist if any one or more of
the following occurs.
6.1 Failure to Pay. The Developer fails to pay the principal of or
interest on the Note, or any other amount payable by the Developer under the Note, as
when the same is due and payable.
6.2 Failure to Perform. The Developer fails to fully perform and
discharge any of its obligations under any of the Loan Documents (other than as
provided in Section 6. 1), and such failure continues for a period of ten (10) days after
receipt of written notice from the Agency to cure such failure: provided, that if the nature
of the failure is such that more than ten (10) days are reasonably required for its cure,
then no Event of Default will be deemed to have occurred so long as the Developer
commences to cure such failure within such ten (10) day period and thereafter diligently
pursues such cure to completion.
6.3 Breach of Representation or Warranty. Any representation or
warranty by Developer contained in any of the Loan Documents or in any document
furnished by it in compliance with or in reference to any of such Loan Documents shall
be false or misleading in a material respect at the time made.
6.4 Insolvency: Attachments. Developer is or becomes bankrupt or
insolvent. makes an assignment for the benefit of creditors, or commences or has
commenced against it a proceeding under the Federal Bankruptcy Code; or, a writ of
attachment or execution is levied on the Property: or, in any proceeding or action to
which the Developer is a party, a receiver is appointed with authority to take possession
of the Property.
6.5 Other Obligations. Developer is in default (beyond any applicable
cure period) under any other indebtedness or obligation owing to the Agency whether
Area Housing Authority Loan Agreement OC t j 23
now existing or hereafter created or incurred.
7 Remedies. If an Event of Default occurs, then the Agency may proceed to
protect and enforce its rights by action at law, or by any other appropriate proceedings,
whether for the specific performance of any covenant or agreement contained in the
Loan Documents, or in aid of the exercise of any power granted in the Loan Documents:
or may proceed to enforce the payment of the Note or to enforce any other legal or
equitable right it may have as holder of the Note. In particular, without limiting the
generality of the foregoing, the Agency shall have the right. at its option, to declare the
entire principal of, and all interest accrued on, the Loan then outstanding to be, and
such Loan and the Note evidencing the Loan shall thereupon become, forthwith due
and payable, without any presentment, demand. protest or other notice of any kind, all
of which are hereby expressly waived by Developer. All rights and remedies of the
Agency under the Loan Documents and at law and in equity are cumulative and not
alternative.
8. Waiver. No delay or omission by the Agency in exercising its rights under
any of the Loan Documents shall constitute a waiver of such rights.
9. Notices. All notices, requests, demands and other communications
required or permitted to be given under the terms of this Agreement or the Note by one
party to the other shall be in writing addressed to the recipient party's Notice Address
set forth below and shall be deemed to have been duly given or made (a) if delivered
personally (including by commercial courier or delivery service) to the party's Notice
Address, then as of the date delivered (or if delivery is refused, on presentation). or (b)
if mailed by certified mail to the party's Notice Address, postage prepaid and return
receipt requested, then at the time received at the party's Notice Address as evidenced
by the return receipt. or (c) if mailed by first class mail to the party's Notice address,
postage prepaid, then on the third (3rd) day following deposit in the United States Mail.
Any party may change its Notice Address by a notice given in the foregoing form and
manner. The Notice Addresses of the parties are:
If to Agency: Redevelopment Agency of the City of Moorpark
799 Moorpark Avenue
Moorpark, California 93021
Attn.: Executive Director
If to Developer: The Area Housing Authority of the County of Ventura
1400 West Hillcrest Drive
Newbury Park, CA 91320
Area Housing Authority Loan Agreement i ( f1 24
4
Attn.: Douglas Tapking, Executive Director
10. Full Payment. The Loan Documents shall automatically terminate upon
receipt of all sums owing and outstanding under the Note to the Agency.
11. Transfer of Interest. 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 Agency
Loan, no voluntary or involuntary successor in interest of the Developer shall acquire
any rights or powers under this Agreement.
12. Relationship of Parties. The relationship of the Developer and the Agency
under the Loan Documents is, and shall at all times remain: solely that of borrower and
lender, and the Agency neither undertakes nor assumes any responsibility or duty to the
Developer or to any third party with respect to the Project, except as expressly provided
in the Loan Documents.
13. Applicable Law: Venue. This Agreement shall be governed by and
interpreted under the laws of the State of California. This Agreement is made, entered
into, and executed in Ventura County. California, and any action filed in any court for the
interpretation. enforcement or other action arising from any term, covenant or condition
herein shall be filed in Ventura County, California.
14. Attorneys' Fees. Should it become necessary for either party to
commence legal action to enforce the provisions of this Agreement, then the prevailing
party in such action shall be entitled to recover all such costs and attorneys' fees as a
court may adjudge reasonable.
15. Time. Time is of the essence of this Agreement.
16. Entire Agreements: Amendments. The Loan Documents are the entire
agreement of the parties hereto with respect to the subject matter hereof and supersede
all prior negotiations or agreements, written or oral, with respect to that subject matter.
To be enforceable, any amendment, alteration, waiver, extension or modification of the
Loan Documents must be in writing signed by the party to be bound.
17. Counterparts. This Agreement may be executed in counterparts, each of
which is an original but all of which together constitute but one and the same
instrument. Any signature page of this Agreement may be detached from any
counterpart and re- attached to any other counterpart of this Agreement which is
identical in form hereto but having attached to it one or more additional signature pages.
Area Housing Authority Loan Agreement
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the
date first set forth above.
THE AREA HOUSING AUTHORITY OF
THE COUNTY OF VENTURA
LIM
0
Douglas Tapking. Executive Director
(Print Name)
Secretary
Area Housing Authority Loan Agreement 6
REDEVELOPMENT AGENCY OF THE
CITY OF MOORPARK, a public body
corporate and politic
Janice S. Parvin, Chair
ATTEST:
0
Deborah S. Traffenstedt
Agency Secretary
i i`(1 26
EXHIBIT 'A"
PROMISSORY NOTE SECURED BY DEED OF TRUST
$350,000.00 MOORPARK, California
2009
For value received, (the "Developer "),
does hereby covenant and promise to pay to the REDEVELOPMENT AGENCY OF
THE CITY OF MOORPARK (the "Agency'), or order, the principal sum of $350,000.00,
together with interest thereon at the rate paid in the Local Agency Investment Fund
(LAIF). Principal and interest are payable in lawful money of the United States of
America without setoff. deduction or counterclaim and shall be paid to the Agency, as
provided in Section 2 below, at 799 Moorpark Avenue, Moorpark, California, or at such
other place as the Agency may from time to time designate by written notice to the
Developer.
1. Loan Agreement. This Promissory Note (the "Note ") is issued pursuant to,
and subject to, that certain Loan Agreement dated , 2009: by and
between the Developer and the Agency (the "Agreement "), to which Agreement
reference is made for a more complete statement of the Agency's rights. Capitalized
terms not defined in this Note shall have the same meanings which are given to them in
the Agreement. The indebtedness evidenced by this Note is secured by
Predevelopment Documents described in the Agreement.
2. Terms of the Loan.
(a) This loan is unique in nature. The loan only has one principal and interest
payment due at the end of the Term of the Agreement. Said payment will be made by
the first draw on the construction loan for the Project. If the Project does not
materialize, the loan will convert to a grant to the Developer. Under this scenario, the
Agency will no longer negotiate with the Developer on this Project.
(b) To the extent that the Developer makes any payment or the Agency
receives any payment or proceeds for the Developers benefit, which are subsequently
invalidated, declared to be fraudulent or preferential, or are required to be set aside or
to be repaid to a trustee, debtor -in- possession, receiver, custodian or any other party
under any bankruptcy law, common law or equitable cause, then, to such extent, the
obligations of the Developer hereunder intended to be satisfied shall be revived and
continue as if such payment or proceeds had not been received by the Agency.
(c) In addition to any interest which may be charged hereunder, the
Developer shall pay to the Agency a charge ( "Late Charge ") for the collection of late
payments in an amount equal to five percent (5 %) of any payment required hereunder
which is not paid within ten (10) days after the date such payment is due, as liquidated
damages and not as a penalty. Without limiting the foregoing, the Developer agrees
that the Late Charge shall be due and payable upon the entire unpaid principal amount
if not paid in accordance with Section 2 (a). The Developer recognizes that its default in
making any payment as provided herein or in any other Loan Document as agreed to be
paid when due, or the occurrence of any other Event of Default hereunder or under any
other Loan Document, will require the Agency to incur additional expense in servicing
and administering the Loan, will result in loss to the Agency of the use of the money due
and in frustration to the Agency in meeting its other financial and loan commitments and
that the damages caused thereby would be extremely difficult and impractical to
ascertain. Nothing in this Note shall be construed as an obligation on the part of the
Agency to accept, at any time, less than the full amount then due hereunder or as a
waiver or limitation of the Agency's right to compel prompt performance.
(d) Payments on this Note will be applied first to the payment of any costs,
fees, Late Charges, or other charges incurred in connection with the indebtedness
evidenced by this Note: next, to the payment of accrued interest; then to the reduction
of the principal balance. The Developer may prepay this Note, in whole or in part, at
any time without any penalty or additional fees.
(e) The Predevelopment Documents which secures the indebtedness
evidence by this Note provides as follows:
"In the event of any Transfer (as defined below) of Developer's interest in the
Project or default of this Agreement, Agency shall have the absolute right at its
option, without prior demand or notice, to terminate the Agreement and declare
all Predevelopment Documents be submitted to the Agency. As used herein,
'Transfer' means any sale. conveyance, lease: transfer or disposition of all or any
part of said Project or any interest of Trustor therein, or the further hypothecation
or encumbering of said Predevelopment Documents or any part thereof or any
interest of Trustor therein, or the entry into any agreement to do any of the
foregoing.
(f) The parties hereto intend to conform strictly to the applicable usury laws.
In no event shall the Agency be entitled to interest exceeding the maximum rate
permitted by law. If fulfillment of any provision of this Note, or of any other document
pertaining to the indebtedness evidenced hereby, at the time performance of such
provisions shall be due, would involve exceeding the maximum rate of interest
prescribed by law, then the obligation to be fulfilled shall be reduced automatically so as
to equal such maximum rate. If the Agency shall ever receive anything of value
deemed interest under applicable law which would exceed interest at the highest lawful
rate, an amount equal to any amount which would have been excessive interest shall be
applied to the reduction of principal payable with respect to this Note and not to the
payment of interest, or if such amount which would have been excessive interest
exceeds the unpaid balance of principal hereof, such excess shall be refunded to
Developer. All sums paid or agreed to be paid to the Agency for the use, forbearance
or detention of the indebtedness of the Developer to the Agency hereunder shall, to the
extent permitted by applicable law, be amortized, prorated, allocated, and spread
throughout the full stated term of such indebtedness so that the amount of interest on
account of such indebtedness does not exceed the maximum permitted by applicable
law.
3. Acceleration on Default. If the Developer fails to pay the principal of or
8 -� 0 2S
interest on this Note, or any other amount payable by the Developer under this Note, as
and when the same is due and payable, or if an Event of Default occurs under the
Agreement, then, in addition to all rights and remedies of the Agency under the
Agreement, the Deed of Trust, applicable law or otherwise, all such rights and remedies
being cumulative, the Agency may, at its option, declare all amounts owing under this
Note to be due and payable. whereupon the then unpaid principal balance hereof
together with all interest accrued thereon shall forthwith become due and payable.
4. Cost of Collection. The Developer agrees to pay the following costs,
expenses and attorneys' fees paid or incurred by the Agency: (i) costs and expenses of
collection or enforcement of, and attorneys' fees paid or incurred in connection with the
collection or enforcement of. this Note. whether or not suit is filed; and (ii) costs of suit
and such sum as the Court may adjudge as attorneys' fees in an action to enforce
payment of this Note or any part of it.
5. Forbearance Not a Waiver. No delay or omission on the part of the
Agency in exercising any rights under this Note, the Agreement or the Deed of Trust on
breach or default by the Developer shall operate as a waiver of such right or any other
right under this Note or the Deed of Trust for the same breach or default or any other
breach or default.
6. Assignment. The Agency shall have the right to sell, assign or otherwise
transfer. in whole or in part, this Note, the Deed of Trust, and any other instrument
evidencing or securing the indebtedness of this Note without the consent of the
Developer. The Developer shall not sell, assign or otherwise transfer this Note, in
whole or in part, without the prior written consent of the Agency which consent the
Agency is under no obligation to give.
7. No Oral Modifications. Neither this Note nor any of the terms or provisions
hereof can be altered, modified, amended, waived. extended, changed, discharged or
terminated orally or by a course of conduct, but only by an agreement in writing signed
by the party against whom enforcement of any alteration, modification, amendment,
waiver, extension, change, discharge or termination is sought.
8. Time is of the Essence. Time is of the essence for each and every
obligation under this Note.
Area Housing Authority of Ventura County
Douglas Tapking, Executive Director
�� )OO 29