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HomeMy WebLinkAboutAG RPTS 2010 0707 RDA REGE8TABf.im * UAW It teat Resolution No. 2010 -230 OF REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK REGULAR MEETING AGENDA WEDNESDAY, JULY 7, 2010 7:00 P.M. Moorpark Community Center 799 Moorpark Avenue 1. CALL TO ORDER: 2. ROLL CALL: 3. PUBLIC COMMENT: 4. REORDERING OF, AND ADDITIONS TO, THE AGENDA: 5. CONSENT CALENDAR: (ROLL CALL VOTE REQUIRED) A. Consider Minutes of Regular Meeting of June 2, 2010. Staff Recommendation: Approve the minutes. B. Consider Minutes of Special Meeting of June 16, 2010. Staff Recommendation: Approve the minutes. 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.cf.moorvark.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 forthat 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. Redevelopment Agency Agenda July 7, 2010 Page 2 5. CONSENT CALENDAR: (continued) C. Consider Resolution Adopting Loan Agreement between the City of Moorpark and the Redevelopment Agency of the City of Moorpark. Staff Recommendation: Adopt Resolution No. 2010- , approving a Loan Agreement with the City of Moorpark. ROLL CALL VOTE REQUIRED (Staff: David Moe) 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: 450 High Street (APN 512 -0- 082 -02 & 03) Agency Negotiator: Redevelopment Agency of the City of Moorpark - Steven Kueny, Executive Director Negotiating Parties: Jim Clark Under Negotiation: Price and terms of sale 7. ADJOURNMENT: 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 July 7, 2010 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 II of the City of Moorpark and that a notice for a Regular Meeting of the Redevelopment Agency of the City of Moorpark to be held Wednesday, July 7, 2010, at 7 :00 p.m. in the Council Chambers of the Moorpark Community Center, 799 Moorpark Avenue, Moorpark, California, was posted on July 2, 2010, 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 July 2, 2010. Blanca Garza, Deputy City Clerk 01TY OF MOOR.PARK. CALIFORNIA ITEM 5.A. Redpveiopment Agency Meeting of 7-.. A O / O -- - , REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK �rpar California June 2, 2010 RY- A Regular Meeting of the Redevelopment Agency of the City of Moorpark was held on June 2, 2010, in the Community Center of said City located at 799 Moorpark Avenue, Moorpark, California. 1. CALL TO ORDER: Chair Parvin called the meeting to order at 7:19 p.m. 2. ROLL CALL: Present: Agency Members Mikos, Pollock, Van Dam, and Chair Parvin. Absent: Agency Member Millhouse. Staff Present: Steven Kueny, Executive Director; Hugh Riley, Assistant Executive Director; David Moe, Redevelopment Manager; Deborah Traffenstedt, Agency Secretary; and Tracy Moe, Deputy City Clerk. 3. PUBLIC COMMENT: None. 4. REORDERING OF, AND ADDITIONS TO, THE AGENDA: None. 5. CONSENT CALENDAR: (ROLL CALL VOTE REQUIRED) MOTION: Agency Member Van Dam moved and Agency Member Pollock seconded a motion to approve the Consent Calendar. The motion carried by roll call vote 4 -0, Agency Member Millhouse absent. A. Consider Minutes of Regular Meeting of May 19, 2010. Staff Recommendation: Approve the minutes. B. Consider Resolution Amending the Fiscal Year 2009/10 Budget for Moorpark Redevelopment Agency Fund (2902) for Metrolink South Parking Lot South Entry Capital Improvement Program 8056. Staff Recommendation: Adopt Resolution No. 2010 -225. ROLL CALL VOTE REQUIRED. 1 Minutes of the Redevelopment Agency Moorpark, California Page 2 June 2, 2010 C. Consider Fourth Amendment to the Design and Engineering Agreement between the Redevelopment Agency of the City of Moorpark and CVE Engineering. Staff Recommendation: Authorize the Executive Director to execute the Fourth Amendment to the Design and Engineering Agreement for this transaction, subject to final language approval by the Executive Director and Agency Counsel. D. Consider Resolution Authorizing the Acquisition of 112 First Street Accepting the Grant Deed for Recordation, and Amending the Fiscal Year 2009/10 Budget to Fund the Purchase. Staff Recommendation: 1) Adopt Resolution No. 2010 -226; and 2) Authorize the Redevelopment Manager to execute all documents necessary to complete this transaction; and 3) Authorize the Agency Secretary to accept and consent to the recordation of any deed. ROLL CALL VOTE REQUIRED. 6. CLOSED SESSION: None was held. 7. ADJOURNMENT: Chair Parvin adjourned the meeting at 7:20 p.m. Janice S. Parvin, Chair ATTEST: Tracy Moe Deputy City Clerk 2 CITY OF "nr^,2rnr� �at.icORN1�1 Redeve opment Agency ;Meeting ITEM 5.13. ACTION; arm 1Of11QDTES OF THE SPECIAL MEETING OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK Iw: Moorpark- California-- June 16, 2010 A Special Meeting of the Redevelopment Agency of the City of Moorpark was held on June 16, 2010 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 6:46 p.m. 2. ROLL CALL: Present: Agency Members Mikos, Pollock, Van Dam, and Chair Parvin. Absent: Agency Member Millhouse. Staff Present: Steven Kueny, Executive Director; Hugh Riley, Assistant Executive Director; David Moe, Redevelopment Manager; and Deborah Traffenstedt, Agency Secretary. 3. PUBLIC COMMENT: None. 4. REORDERING OF, AND ADDITIONS TO, THE AGENDA: None. 5. PRESENTATION /ACTION /DISCUSSION: A. Consider Resolution Authorizing the Acquisition of 112 First Street for a Revised Sale Price Accepting the Grant Deed for Recordation, Amending the Fiscal Year 2009/10 Budget to Fund the Purchase, and Rescinding Resolution No. 2010 -226. Staff Recommendation: 1) Adopt Resolution No. 2010 -227; 2) Authorize the Executive Director to execute all documents necessary to complete this transaction; and 3) Authorize the Agency Secretary to accept and consent to the recordation of any deed. ROLL CALL VOTE REQUIRED Mr. Kueny gave the staff report. There were no speakers. 3 Minutes of the Redevelopment Agency Moorpark, California Page 2 June 16 2010 MOTION: Chair Parvin moved and Agency Member Van Dam seconded a motion to: 1) Adopt Resolution No. 2010 -227; 2) Authorize the Executive Director to execute all documents necessary to complete this transaction; and 3) Authorize the Agency Secretary to accept and consent to the recordation of any deed. The motion carried by roll call vote 4 -0, Agency Member Millhouse absent. 6. CLOSED SESSION: Mr. Kueny requested the Agency go into closed session for discussion of Item 6.C. on the agenda. MOTION: Agency Member Van Dam moved and Agency Member Mikos seconded a motion to adjourn to closed session for discussion of Item 6.C. on the agenda. The motion carried by voice vote 4 -0, Agency Member Millhouse absent. The time was 6:49 p.m. C. CONFERENCE WITH REAL PROPERTY NEGOTIATOR (Pursuant to Government Code Section 54956.8) Property: 450 High Street (APN 512 -0- 082 -02 & 03) Agency Negotiator: Redevelopment Agency of the City of Moorpark - Steven Kueny, Executive Director Negotiating Parties: Jim Clark Under Negotiation: Price and terms of sale Present in closed session were Agency Members Mikos, Pollock, Van Dam, and Chair Parvin; Steven Kueny, Executive Director; Hugh Riley, Assistant Executive Director; David Moe, Redevelopment Manager; and Deborah Traffenstedt, Agency Secretary. The Agency reconvened into open session at 7:03 p.m. Mr. Kueny stated Item 6.C. was discussed and there was no action to report. 7. ADJOURNMENT: Chair Parvin adjourned the Redevelopment Agency meeting at 7:03 p.m. Janice S. Parvin, Chair ATTEST: Maureen Benson Assistant Agency Secretary 2 ITEM 5.C. CITY OF MOORPARK, CALIFORNIA Redevelopment Agency Meeting Of ACTION: O IRY.: MOORPARK REDEVELOPMENT AGENCY AGENDA REPORT TO: Honorable Board of Directors FROM: David C. Moe II, Redevelopment Manager N %M DATE: June 18, 2010 (MRA Meeting of July 7, 2010) SUBJECT: Consider Resolution Adopting Loan Agreement between the City of Moorpark and the Redevelopment Agency of the City of Moorpark BACKGROUND The California Health and Safety Code on Community Redevelopment Law Section 33601 allows redevelopment agencies to borrow funds from the state or federal government or any other public agency for any redevelopment project within its area of operation for any purposes allowed by this section and may comply with any conditions of such loan. On September 2, 2009, the Agency approved a Disposition and Development Agreement with the Area Housing Authority of the County of Ventura ( "AHA ") to construct 20 units with a podium style 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 ( "Project "). The AHA submitted an application for tax credit financing to the Tax Credit Allocation Committee in conjunction with the City of Moorpark for the sole 2009 funding cycle. Unfortunately, the application was not funded due to a low tie breaker score. On March 17, 2010, the Agency approved a $600,000.00 loan to the AHA in an effort to boost the tie breaker score. The Agency's commitment was contingent upon the ability of the AHA to secure the needed tax credits for the Project and no funds were allocated. The loan to the AHA would have a thirty (30) year term and no interest. Payments would begin in year 11 and the AHA would not be penalized for prepayment. It is possible the loan could be paid off before or during the construction of the Project if the AHA is able to secure other financing Honorable Agency Board July 7, 2010 Page 2 HOME money. This loan is in addition to the annual loan from the City to the Agency for operations and capital projects. As you are aware, this annual loan is repaid by June 30th of each Fiscal Year from Agency funds. DISCUSSION A second application for tax credit financing was submitted to the Tax Credit Allocation Committee. On June 9, 2010, the Tax Credit Allocation Committee notified staff that $8,648,129.00 of tax credits have been reserved the Project. Funds will now need to be allocated to finance the loan between the City of Moorpark and the Agency. The funds will be allocated from the City Housing Fund and deposited into the MRA Housing Fund. The Agency will use these funds as a loan to the AHA to assist with the construction of the Project. Staff is recommending a loan from the City to the Agency in the amount of $600,000.00. FISCAL IMPACT A $600,000.00 loan from the City Housing Fund will be made and deposited into the MRA Housing Fund. The loan would be repaid without interest to the City at the first opportunity and prior to any other City loan with the Agency. STAFF RECOMMENDATION (Roll Call Vote) Adopt Resolution No. 2010- approving a Loan Agreement with the City of Moorpark. Attachment: Resolution No. 2010 - Loan Agreement ATTACHMENT "A" RESOLUTION 2010- A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK, CALIFORNIA, ADOPTING A LOAN AGREEMENT BETWEEN THE CITY OF MOORPARK AND THE MOORPARK REDEVELOPMENT AGENCY WHEREAS, the City of Moorpark has agreed to advance funds from the City Housing Fund (2430) to the Redevelopment Agency of the City of Moorpark in accordance with the terms of a Loan Agreement; and WHEREAS, the Redevelopment Agency of the City of Moorpark has agreed to accept the terms and conditions of the Loan Agreement. NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The Loan Agreement between the City of Moorpark and the Redevelopment Agency of the City of Moorpark, and attached as Exhibit "A" to this resolution, is hereby adopted. SECTION 2. The City Clerk 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 7th day of July, 2010. Janice S. Parvin, Chair ATTEST: Maureen Benson, Agency Secretary Attachment: Exhibit "A" 7 EXHIBIT "A" LOAN AGREEMENT THIS LOAN AGREEMENT is entered into July, 2010, by and between the City of Moorpark ( "City ") and the Moorpark Redevelopment Agency ( "Agency "). RECITALS WHEREAS, the Agency was created by Ordinance No. 87, adopted by the City Council on March 18, 1987, for the purpose of eliminating blighted conditions within specified project areas; and WHEREAS, in support of its mission, the Agency is developing and implementing plans to acquire and construct certain public facilities; and WHEREAS, the Agency has determined that, in order to undertake this redevelopment project, temporary financial assistance in the form of a loan is required from the City of Moorpark; and WHEREAS, Section 33600 et. seq. of the California Community Redevelopment Law authorizes the Agency to borrow money or accept financial or other assistance from the City. COVENANTS NOW, THEREFORE, THE CITY AND AGENCY AGREE AS FOLLOWS: SECTION 1. Amount and Use of Loan. The City, from its City Housing Fund, will advance to the Agency the amount of $600,000 (six hundred thousand dollars). Agency agrees to use such loan proceeds only for those purposes set forth in the Health and Safety Code and approved by the Agency. SECTION 2. Repayment of Funds. The Agency will repay this loan in full on or before June 30, 2011, unless extended by amendment to this Agreement. SECTION 3. Interest Payment. This loan will not bear any interest. SECTION 4. Obligation Constitutes Indebtedness. This loan agreement shall constitute an obligation and debt of the Agency to use all available increment revenue to repay the City. Such indebtedness shall be subordinate to any and all other Agency indebtedness incurred by the Agency, including indebtedness incurred through the issuance of tax allocation notes or bonds or any other bonds of the Agency. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. MOORPARK REDEVELOPMENT AGENCY CITY OF MOORPARK Janice S. Parvin, Chair ATTEST: Deborah S. Traffenstedt, Agency Secretary Steven Kueny, City Manager Deborah S. Traffenstedt, City Clerk D