The URL can be used to link to this page

Home My WebLink AboutAGENDA REPORT 2017 0607 CCSA REG ITEM 10E ITEM 10.E. CITY OF MOORPARK,CALIFORNIA City Counciii Meeting of / - -, o '1 MOORPARK CITY COUNCILACTIOIa`-adva 4 `'. . AGENDA REPORT BY: BY: TO: The Honorable City Council FROM: Jessica Sandifer, Program Manage. DATE: May 19, 2017 (CC Meeting of 06/07/17) SUBJECT: Consider Resolution Approving an Extension of Time to Develop Property for Low and Moderate Income Housing BACKGROUND Upon dissolution of the rn Redevelopment Agency of the City of Moorpark ("Redevelopment Agency") on February 1, 2012, pursuant to AB X1 26, the Successor Agency of the Redevelopment Agency of the City of Moorpark ("Successor Agency") was constituted. Pursuant to Health and Safety Code Section 34176(a), the City Council of the City of Moorpark ("City") could elect to assume the functions of the former Redevelopment Agency and could separately elect to assume the housing functions, duties, and obligations of the former Redevelopment Agency and become the Successor Housing Agency. On January 4, 2012, the City Council adopted Resolution No. 2012-3079, which confirmed the City's election to serve as the Successor Agency of the former Redevelopment Agency, as well as, the Housing Successor. As the Housing Successor, the City retained the housing assets of the former Redevelopment Agency. On July 27, 2012, pursuant to Health and Safety Code Section 34176(a)(2) , the City, as the Successor Housing Agency, transmitted the Housing Asset List to the State Department of Finance (DOF) for their review. DOF had 30 days from receipt of the Housing Assets List to object to any of the assets or transfers of assets identified on the Housing Asset List. On August 27, 2012, DOF notified the City that they did not object to any of the assets or transfer of assets identified on the Housing Asset List. DISCUSSION Prior to its dissolution the Redevelopment Agency, purchased 21 properties with funds from the Low and Moderate Income Housing Fund (Housing Asset Properties). These properties were purchased with the intent that they be developed for affordable housing purposes through sales to non-profit or for profit developers. Generally, the development of affordable housing projects take time. Not only does the design, 188 Honorable City Council • June 7, 2017 Page 2 engineering and construction process take time, but the assembly of a suitable sized site and the need to secure funding for the projects from multiple different funding sources in order to pay for the construction of the project also adds to the timeline. Under state law (Health and Safety Code Section 33334.16) activities to develop the Housing Asset properties for affordable housing must be initiated within five years from the date of Acquisition or the property must be sold and the proceeds returned to the Low and Moderate Housing Fund. The five year timeline may be extended one time only by five years if the City Council, by resolution, affirms its intent that the Property be used for the development of Affordable Housing. When the Redevelopment Agency was dissolved, Section 34176.1 (e) of the Health and Safety Code reset the five year timeline for the development of the Housing Asset Properties purchased prior to February 1, 2012 to the date that DOF "..approved the property as a housing asset." The five year deadline for the Housing Asset properties expires on August 12, 2017. The dissolution of the redevelopment agencies cut off a major source of funding for development of affordable housing and in conjunction with the slow recovery of the real estate market, has made it difficult for the City to continue with development of all of the Housing Asset properties. There are sixteen (16) Housing Asset properties still to be developed. Attachment 1 to the report contains a list and location map of the Housing Asset Properties. Staff is requesting that the City Council approve one extension of the time to develop housing assets for another five year period. FISCAL IMPACT There is no fiscal impact for the extension of the housing asset deadline. STAFF RECOMMENDATION Adopt Resolution No. 2017- Attachment— 1. List and Map of the Housing Asset Properties 2. Resolution No. 2017- 189 ATTACHMENT 1 List of Housing Asset Properties APN Address 506-0-020-130 250 Los Angeles Avenue 511-0-030-250 1123 Walnut Canyon 511-0-030-260 1113 Walnut Canyon 511-0-030-270 1095 Walnut Canyon 511-0-030-280 1083 Walnut Canyon 511-0-030-290 1073 Walnut Canyon 511-0-030-300 1063 Walnut Canyon 511-0-040-10 1331 Walnut Canyon 511-0-040-130,&-140 1293 Walnut Canyon 512-0-063-010 780 Walnut Street 512-0-081-050 450 Charles Street 512-0-081-060 460 Charles Street 512-0-081-080 484 Charles Street 512-0-102-100 112 First Street 512-0-102-110 124 First Street 506-0-020-525 SW Terminus of Millard St 190 ATTACHMENT 1 Housing Asset Location Maps Walnut Canyon Properties 1363 / ,/ 1347 , 23 1331 1295 .. 1293 1315 1285 1 1 / ' 1273 1257 , 1245 / 1249 /,‘/..,<,%/",1 / (,\ / /7 N // "'•- '.-.N 1230 ,// 1247 7.1,4N1 ' / .., /'\\\N 1229 • / /./ • / / 1215 i' / ,/ : / /A11.11110r\/ .. / / - i / 1115 .ED / / t 1173 - / / 11:1W.Z// /299 ',/,// . / tAmz„49 / / 1131 / / -- -- / /AMEIW7 --- :: ..- .-- / 11/4079 / - . / __-----------); Charles Street Properties ,.... \ ' , Ti, 707 1,3"1 :7og 1 - -I-- - — - — C iTaT recS—S-t-- - —- — \i--- - — -— 7 71— _ „- I ,--- „ n--- , 1 -50-n 5605-5 450 --460 1 470 484 i li i502----c 155 --- 1 I ,, I L504D - clli i 538 540 4X i 1 530 532, .85 411 415 467 481 01 1534 53.6A Z, e-g I —'--- ------ — - -- - - - --I---- --- _ -- I 1 13800 il 1 450 4440 446 460 492 I - 1 191 . I I ATTACHMENT 1 Housing Asset Location Maps First Street Properties :AV17 — — 1ST ST l I 1 rri ' - YI 496 0.1 C O 1; I 64 80 96 102 112 124 136 ;s 480 I 448 I ' 1 SW Terminus of Millard 1 I I ♦ i I 131 ice MAJESTIC CT tic Ct -1----- 250 Los Angeles Avenue ` I (-1 1504150 150 150 150 I 4788 • 241 1"115011501, 4776 • --,_.._ v ,. E L'c�SANGELES'AV 1-I LO -Angel es a-- Os w les- 01 rt"! 150 150150CC 1 4764 • Nor .-150 15°--11_51 150`T50Ji 4758 • J 156150 zj 4746 • ' 1501501 15.0150 4734 150 t150y � -- - •' n I 150 4728 • 1 1501150,J� 150 X150150 " 150150 ' 4716 150150 150 I 282 �150r • 240 250 I 150.:_i J L150;15,, 4704 i T, 15015° 150 L. 15 • 0150 .„...-..------------- (0 „�.------{r 150 i 20 1 21 r I ATTACHMENT 2 RESOLUTION NO. 2017- A RESOLUTION OF CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, APPROVING AN EXTENSION OF TIME TO DEVELOP PROPERTY FOR LOW AND MODERATE INCOME HOUSING PURSUANT TO HEALTH AND SAFETY CODE SECTION 33334.16 WHEREAS, the City Council of the City of Moorpark ("City") adopted the Redevelopment Plan for the Redevelopment Agency of the City of Moorpark; and WHEREAS, the Redevelopment Agency of the City of Moorpark ("Agency"), prior to the dissolution of Redevelopment Agencies, was responsible for administering the Redevelopment Plan; and WHEREAS, pursuant to Health and Safety Code Section 33334.2, the Agency had set aside a portion of the tax increment revenue that it received in the Agency's low and Moderate Income Housing Fund (the" Housing Fund") for the purpose of increasing, improving, and preserving the supply of low and moderate income housing; and WHEREAS, prior to the dissolution of redevelopment agencies, the Agency had acquired several properties ("Housing Assets") a list of which is included on Exhibit A, with Housing Fund monies ; and WHEREAS, after the dissolution of the redevelopment agencies, the Successor Agency of the Redevelopment Agency of the City of Moorpark ("Successor Agency") transferred to the City of Moorpark the Housing Assets, pursuant to the City Council's election to assume the housing obligations of the Agency and adoption of Resolution 2012-3079; and WHEREAS, Health and Safety Code Section 33334.16 requires that within five years from the date 'of acquisition of the Housing Assets, activities must begin consistent with the development of the Housing Assets for affordable housing or else the Housing Assets must be sold and the net proceeds returned to the Low and Moderate Income Housing Fund; and WHEREAS, Health and Safety Code Section 34176.1(e) reset the five year timeline to coincide with the date the State Department of Finance (DOF) approved the Housing Asset transfer list, which was August 12, 2012; and WHEREAS, no activities have been initiated consistent with the development of the Housing Assets for affordable housing purposes; and 193 Resolution No. 2017- Page 2 WHEREAS, pursuant to Health and Safety Code Section 33334.16, by resolution the time period to retain the Housing Assets may be extended for an additional period not to exceed five years; and WHEREAS, the City desires to pass such a resolution because the deadline to develop the Housing Assets for affordable housing purposes will expire on August 12, 2017; and WHEREAS, the City intends within the extended five year period to develop the Housing Asset properties for affordable housing for low and moderate income persons and families. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: - SECTION 1. Pursuant to Health and Safety Code Section 33334.16, the period during which the City may retain the Housing Asset properties is extended for five years to August 12, 2022. SECTION 2. The City hereby affirms that the Housing Asset properties shall be used for the development of affordable housing for low and moderate income persons and families. SECTION 3. 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 June, 2017. Janice S. Pan/in, Mayor ATTEST: Maureen Benson, City Clerk Exhibit A — List of Housing Asset Properties 194 Resolution No. 2017- Page 3 EXHIBIT A APN Address 506-0-020-130 250 Los Angeles Avenue 511-0-030-250 1123 Walnut Canyon 511-0-030-260 1113 Walnut Canyon 511-0-030-270 1095 Walnut Canyon 511-0-030-280 1083 Walnut Canyon 511-0-030-290 1073 Walnut Canyon 511-0-030-300 1063 Walnut Canyon 511-0-040-10 1331 Walnut Canyon 511-0-040-130, &-140 1293 Walnut Canyon 512-0-063-010 780 Walnut Street 512-0-081-050 450 Charles Street 512-0-081-060 460 Charles Street 512-0-081-080 484 Charles Street 512-0-102-100 112 First Street 512-0-102-110 124 First Street 506-0-020-525 SW Terminus of Millard St 195