HomeMy WebLinkAboutRES CC 1994 1065 1994 0921RESOLUTION NO. 94 -IDb5
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF MOORPARK APPROVING AND
AUTHORIZING THE CITY MANAGER TO EXECUTE
A REIMBERSEMENT AGREEMENT BY AND BETWEEN
THE MOORPARK REDEVELOPMENT AGENCY
AND THE CITY OF MOORPARK
WHEREAS, by Ordinance No. 87 adopted on March 18, 1987, the
City Council of the City of Moorpark acting pursuant to the
provisions of the California Community Redevelopment Law (Health
and Safety Code Section 33000 gtt sect.), has activated the Moorpark
Redevelopment Agency (the "Agency ") and has declared itself to
constitute the Agency; and
WHEREAS, by Ordinance No. 110 adopted on July 5, 1989, the
City Council approved the Redevelopment Plan for the Moorpark
Redevelopment Agency; and
WHEREAS, in the furtherance of the Redevelopment Plan, the
Agency and the City desire to enter into a Reimbursement Agreement
in the form submitted herewith (the "Agreement ") pursuant to which
the City shall advance funds in the form of a loan (the "Loan ") in
the amount as stated in Agreement, and the Agency will pay the City
for said loan and all associated costs of such Loan by periodic
payments over a period of years;
NOW, THEREFORE, the City Council of the City of Moorpark does
hereby resolve as follows:
Section 1. The City Council hereby determines that the Loan
is in the furtherance of the goals and objective of the
Redevelopment Plan in the elimination of blight (including social,
economic, and physical blight as defined in the California
Community Redevelopment Law) by assisting in the continuing
operations of the Agency, and hereby consents to the Loan in
accordance with the Reimbursement Agreement, in the form attached
to this Resolution and incorporated herein by reference.
Section 2. The City Council approves the Reimbursement
Agreement and authorizes the City Manager to execute the
Reimbursement Agreement on behalf of the City of Moorpark.
PASSED, APPROVED AND ADOPTED this 2 i st day of September, 1994.
ATTEST:
By
Lillian Hare, City Cl Paul W.?Lawrason Mayor
O
O
4q Tk�^
MOORPARK
799 Moorpark Avenue Moorpark, California 93021 (805) 529.6864
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) SS.
CITY OF MOORPARK )
I, Lillian E. Hare, City Clerk of the City of Moorpark,
California, do hereby certify under penalty of perjury that
the foregoing Resolution No. _ 94 -1065 was adopted by the
City Council of the City of Moorpark at a meeting held on
the 21st day of September , 1994, and that
the same was adopted by the following vote:
AYES: COUNCILMEMBERS HUNTER, MONTGOMERY. PEREZ, WOZNIAK, AND MAYOR LAWRASON
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
WITNESS my hand and the official seal of said City
this 22nd day of September , 1994.
I
Lillian E. Hare
City Clerk
PAUL W. LAWRASON JR. PATRICK HUNTER SCOTT MONTGOMERY BERNARDO M. PEREZ JOHN E. WOZNIAK
Mayor Mayor Pro Tem Councilmernber Councilmember Concilmember
Prrnteo or gecpc'ec �ecr•
REIMBURSEMENT AGREEMENT
TFgS REIMB EMENT
day of , 1994
"City") nd the MOORPARK
AGREEMENT is entered into this
a/
by and between the CITY OF MOORPARK (the
REDEVELOPMENT AGENCY (the "Agency ").
A. WHEREAS, by Ordinance No. 87, adopted on March 18, 1987, the
City has previously activated the Agency upon completion of
appropriate legal proceedings therefore;
B. WHEREAS, the City Council of the City of Moorpark adopted
Ordinance No. 110, on July 5, 1989, approving the
Redevelopment Plan for the Moorpark•Redevelopment Agency;
C. WHEREAS, the Moorpark Redevelopment Agency is proceeding to
implement the Moorpark Redevelopment Plan Project (the
"Project ");
D. WHEREAS, the Moorpark Redevelopment Agency in furthering the
Project is eliminating blighted conditions found in the
Project Area including social, economic and physical
conditions of blight;
E. WHEREAS, the Community Redevelopment Law authorizes
redevelopment agencies to enter into contracts for the
reimbursement of the costs for activities relating to
enactment of the redevelopment, operations of the agency, the
adoption of a redevelopment plan, for certain public
improvements enumerated in the redevelopment plan, and for
projects that further the redevelopment plan by the
elimination of blight upon making certain findings and that no
other reasonable means of financing the Agency's activities
are available to the Agency;
F. WHEREAS, the Community Redevelopment Law authorizes
redevelopment agencies to finance the Project with property
tax increments, interest income, Agency bonds, loans from
private institutions, proceeds from the sale or lease of
property, financial assistance from the City including loans,
County, State of California, Federal Government, or any other
public agency, or any other legally available source, and
G. WHEREAS, the Moorpark Redevelopment Agency has determined to
undertake a Redevelopment Project and in order to further the
Project has determined that a loan from the City of Moorpark
is necessary to undertake and carry out the Project.
NOW, THEREFORE, the City and the Agency agree as follows:
Section 1. City has agreed to provide for Agency such staff
assistance, supplies, technical services and other services
and facilities of City as Agency may require in exercising
functions under the California Community Redevelopment Law.
Such assistance and services may include but not be limited to
the services of employees, City resources, and consultants,
and help finance certain Redevelopment projects by making
loans to the Agency.
Section 2. City will keep records of fees deterred and
activities and services undertaken pursuant to this Agreement
and costs thereof in order that an accurate record of Agency's
liability including the principal and interest on any loan to
the Agency by the City can be ascertained. City shall
periodically, but not more frequently than annually, submit to
Agency a statement of the costs incurred by City in performing
pursuant to this Agreement. Such statement of costs may
include a pro rata share of expense attributable to the use of
City employees, departments, and resorces where directly
related to the purposes of the Agency and allowable pursuant
to Sections 33678 and 33679 of the California Health and
Safety Code.
Section 3. Agency agrees to reimburse City for all costs
incurred for the loan, both principal and interest, and for
services and costs, if any, associated with the loan by the
City pursuant to this Agreement and other indebtedness of
Agency to City from and to the extent that funds are available
to Agency for such purpose pursuant to California Health and
Safety Code Section 33670 or from other sources; provided,
however, that Agency shall have the sole and exclusive right
to pledge any such sources of funds to the repayment of other
indebtedness incurred by Agency in carrying out the
redevelopment project. The costs and deferrals of City under
this Agreement will be shown or statements submitted to Agency
pursuant to Section 2 above.
Although the parties recognize that payment may not occur for
a few years and that repayment may also occur over a
period of time, it is the expressed intent of the parties that
City shall be entitled to repayment of the expenses incurred
by City under this Agreement, consistent with Agency's
financial ability, in order to make City whole as soon as
practically possible.
Section 4. The obligations of Agency under this Agreement
shall constitute an indebtedness of Agency within the meaning
of California Community Redevelopment Law Sections 33670 et
sea., to be repaid to City by Agency with interest at the
lesser of ten percent (10 %) per annum or the maximum rate
allowed by law.
Section 5. The obligation of
at the time of execution by
Moorpark Redevelopment Agency
$587,609, which amount is for
Fiscal Year 1994/1995.
the Agency under this agreement
the City of Moorpark and the
is in the principal amount of
Agency's operational costs for
IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first written above.
MOORPARK REDEVELOPMENT AGENCY
By:
Paul W. L rason Jr.,
Chairman
ATTEST:
i
Lillian Hare,
Agency Secretary :OPMf/yT
CITY OF MOORPARK
By:"� -'i'
Steven Kueny, City Man ger
ATTEST:
� oc
r AED }
1987
�ry gOFORN\ ' .
OF M�
Lillian Hare,
City Clerk