Loading...
HomeMy WebLinkAboutResolution No. 06-C1130 RESOLUTION NO. 06-C113 E A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA, CALIFORNIA, APPROVING THE USE OF TAX INCREMENT FUNDS BY THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA FOR CERTAIN PUBLIC IMPROVEMENTS PURSUANT TO HEALTH AND SAFETY CODE SECTION 33445 AND MAKING CERTAIN FINDINGS REGARDING SUCH USE OF TAX INCREMENT FUNDS WHEREAS, pursuant to the California Community Redevelopment Law (Health and Safety Code Section 33000 et seg.) ("CRL"), the City Council ("City Council") of the City of Azusa ("City") has approved and adopted a redevelopment plan ("Redevelopment Plan") for the Merged Central Business District Redevelopment Project Area ("Project Area"); and WHEREAS, the Governing Board (`Board") of the Redevelopment Agency of the City of Azusa ("Agency") has adopted an implementation plan for the Redevelopment Plan ("Implementation Plan") and is engaged in activities necessary to execute and implement the Redevelopment Plan pursuant to the CRL; and WHEREAS, JAR — University Commons, LLC ("Developer") owns certain real property within the Project ("Property"), more particularly described in that certain "Statutory Development Agreement and Owner Participation Agreement", a copy of which is on file with the City Clerk and available for public inspection ("Agreement"); and WHEREAS, pursuant to the terms and conditions of the Agreement, the City desires, and the Developer agrees, for the Developer to construct and dedicate to the City a public road and certain other related street improvements (collectively, "Street Improvements"); and WHEREAS, pursuant to Health and Safety Code Section 33445, the Agency may use tax increment revenue to pay all or part of the costs of the Street Improvements if the City Council finds that certain circumstances exist regarding the Street Improvements and provides its consent; and WHEREAS, in accordance with Health and Safety Code Section 33445, the Agency desires to reimburse the Developer the sum of the: (i) third party costs and expenses actually incurred and paid by the Developer in connection with the design and construction of.the Street Improvements; and (ii) fair market value of the property interests underlying the Street Improvements, up to an aggregate maximum reimbursement amount of One Million Five Hundred Thousand Dollars ($1,500,000); and WHEREAS, upon their completion, the Street Improvements will provide a direct and substantial benefit to the Project Area and the City by protecting residents and visitors alike from vehicular accidents caused by unsafe road conditions; and WHEREAS, City staff has evaluated the Agency's determination that the environmental impacts associated with the Agreement, with implementation of viable mitigation measures, will not have any significant environmental impacts. The City Council adopted a Mitigated Negative RVPUMSASMUNDSOM721061.1 0 E Declaration regarding the development of the Property pursuant to the Agreement on December 4, 2006. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AZUSA, CALIFORNIA, DOES RESOLVE AS FOLLOWS: Section 1: In accordance with Health and Safety Code Section 33445 and based on the staff report and other such written and oral evidence as presented to the City Council regarding the Agreement, the City Council finds and determines the following: (a) The Agency's use of tax increment revenue to pay for the costs to design and construct the Street Improvements is of benefit to the Project Area because such payment will reduce vehicular accidents caused by unsafe road conditions; and (b) There are no other reasonable means of financing the Street Improvements because the City has no General Fund or other revenues that are not already committed to other specific projects; and (c) The Agency's payment of the costs to design and construct the Street Improvements will assist in the elimination of physical and economic blighting conditions within the Project Area by providing safer and more accessible roadways, thereby enabling residents and visitors to access community activities and events within the Project Area, encouraging new business and development in the Project Area; and (d) The use of tax increment revenue to pay the costs to design and construct the Street Improvements is consistent with the Implementation Plan. Section 2. The City Council consents to the Agency's use of redevelopment tax increment revenue from the Project Area in an amount not to exceed One Million Five Hundred Thousand Dollars ($1,500,000) to assist in the financing of the costs to design and construct the Street Improvements. Section 3. The City Council authorizes and directs the City Manager, with the concurrence of the City Attorney, to take such actions and execute such other documents as may be necessary or appropriate in administering the actions authorized by this Resolution. Section 4. This Resolution shall take effect immediately upon its adoption. Section 5. The Mayor shall sign this Resolution and the City Clerk shall attest and certify to the passage and adoption of this Resolution. RVP UBI SASMUNDSON 721061.1 0 0 PASSED AND ADOPTED this 4h day of December, 2006. ATTEST: City Clerk Diane Chagnon, Mayor I HEREBY CERTIFY that the foregoing Resolution No. 06-C113, was duly passed, approved and adopted at a regular meeting of the City Council of the City of Azusa, held on the 4d' day of December, 2006, by the following vote of the Council: AYES: COUNCILMEMBERS: HARDISON, CARRILLO, ROCHA, HANKS, CHAGNON NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE ABSTAIN: COUNCILMEMBERS: NONE Vera Mendoza, City Clerk APPROVED AS TO FORM: BEST BEST & KRIEGER LLP ?- City Attorney RVP URI SASMUNDSOM721061.1