HomeMy WebLinkAboutRES RD 1994 29 1994 0921RESOLUTION NO. 94 -29
RESOLUTION OF THE MOORPARK REDEVELOPMENT AGENCY
APPROVING AND AUTHORIZING THE CHAIRMAN TO EXECUTE
A REIMBURSEMENT 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 et se .), 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 Moorpark Redevelopment Agency does hereby
resolve as follows:
Section 1. The Agency 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 Agency approves the Reimbursement Agreement
and authorizes the Chairman to execute the Reimbursement Agreement
on behalf of the Agency.
PASSED, APPROVED AND ADOPTED this 21st day of September, 1994.
ATTEST:
By
By : 'l�
Paul W. L rason J .
Chairman
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
seg., 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:
Lillian Hare,
Agency Secretary , OPME/yT
E �cFy
c'9' !FO RNA" PQ�
yFC� Of Moo�Q
CITY OF MOORPARK
By: lzu.,��
Steven Kueny, City Man ger
ATTEST:
Lillian Hare,
City Clerk
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) ss.
CITY OF MOORPARK )
I, Lillian E. Hare, Secretary of the Redevelopment Agency of
the City of Moorpark, California, do hereby certify under
penalty of perjury that the foregoing Resolution No. 94 -29
— was adopted by the Redevelopment Agency 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: AGENCY MEMBERS
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
HUNTER, MONTGOMERY, PEREZ, WOZNIAK, AND CHAIRMAN LAWRASON
WITNESS my hand and the official seal of said City
this 26th day of September , 1994.
1 A
Lillian E. Hare
Secretary
T S REIMBPRSEMENT
day of , 1994
"City ") And the MOORPARK
AGREEMENT is entered into this
RI
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 on 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 gt
mg., 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 the Agency under this agreement
at the time of execution by the City of Moorpark and the
Moorpark Redevelopment Agency is in the principal amount of
$587,609, which amount is for Agency's operational costs for
Fiscal Year 1994/1995.
:m
1 IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first written above.
By: A -A $-Jj,,k
Paul W. L rason Jr.,
Chairman
ATTEST:
i
Lillian Hare,
Agency Secretary OPMENT�s
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SHED
q�1 /FORN�
1' OF 1M�
CITY OF MOORPARK
By: z "t�
Steven Kueny, City Man ger
ATTEST:
3
Lillian Hare,
City Clerk