HomeMy WebLinkAboutAgenda Packet - December 15, 2014 - CCAPPROVED
SCHEDULED ITEM
C-1
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: KURT CHRISTIANSEN, DIRECTOR OF ECONOMIC AND COMMUNITY
DEVELOPMENT
DATE: DECEMBER 15, 2014
SUBJECT: SECOND AMENDMENT TO THE MONROVIA NURSERY DEVELOPMENT
AGREEMENT
RECOMMENDATION
It is recommended that the City Council adopt the ordinance granting a nine (9) month extension of
the Monrovia Nursery Development Agreement.
BACKGROUND
The Rosedale project was originally approved by the City Council on February 3, 2003, and
approved later by Azusa voters on May 4, 2004. A Development Agreement dated May 27, 2004,
was approved as part of the entitlements granted to Monrovia Nursery, which is an important part of
the Rosedale project in that it binds both the Developer and the City to certain commitments that are
important to the project. On February 26, 2014, the Planning Commission voted to recommend that
the City Council adopt the time extension. On March 17, 2014, the City Council adopted the first
amendment to the Monrovia Nursery Development Agreement, extending the agreement by 9
months.
A second development agreement amendment is proposed to extend the current Monrovia Nursery
Development Agreement between the City of Azusa and Rosedale Land Partners II (Developer) by
an additional nine (9) months. Staff has been negotiating changes to the Development Agreement
and an extension of time is needed to provide the City and Developer with more time. The
proposed extension does not amend any of the prior obligations of the parties and merely extends the
term by an additional nine (9) months. On November 19, 2014, the Planning Commission voted to
recommend that the City Council adopt the time extension.
CONCLUSION
The original Monrovia Nursery Development Agreement was approved for a ten year term, which
expired in May, 2014. The First Amendment to the Development Agreement will expire February
27, 2015. On November 19, 2014 the Planning Commission held a public hearing to consider the
Second Amendment and voted to recommend to the City Council the requested nine (9) month
extension to the term of the Development Agreement.
ATTACHMENTS
November 19, 2014, Planning Commission Staff Report
Planning Commission Resolution 2014-22
Draft Ordinance for Adoption
ECONOMIC AND COMMUNITY DEVELOPMENT DEPARTMENT
REPORTTO THE PLANNING COMMISSION
AGENDA ITEM
F-1
TO: HONORABLE MEMBERS OF THE PLANNING COMMISSION
i ... L
FROM: KURT CHRISTIANSEN, D1REC'rOR OF ECONOMIC AND COMMUNITY
DEVELOPMENT
DATE: NOVEMBER 19, 2014
SUBJECT- AMENDMENT TO THE MONROVIA NURSERY DEVELOPMENT
AGREEMENT
RECOMMENDATION
It is recommended that the Plaruiing Commission recommend to the City Council a nine (9) month
extension of the Monrovia Nursery .Development Agreement.
BACKGROUND
The Rosedale project was originally approved by the City Council on February 3, 2003, and
approved later by Azusa voters on May 4, 2004. A Development Agreement dated May 27, 2004,
was approved as part of the entitlements granted to Monrovia Nursery, which is an important part of
the Rosedale project in that it binds both the Developer and the City to certain commitments that are
important to the project. The City Council adopted the First Amendment to the Development
Agreement on April 27, 2014, which granted a 9 month extension.
A second development agreement amendment is proposed to extend the current Monrovia Nursery
Development Agreement between the City of Azusa and Rosedale Land Partners 11 (Developer) by
an additional nine (9) months. Staff has been negotiating changes to the Development Agreement
and an extension of time is needed to provide the City and Developer with more time. The
proposed extension does not amend any of the prior obligations of the parties and merely extends the
term by an additional nine (9) months.
The proposed action would not modify the physical attributes or characteristics of the project as
previously analyzed in an Environmental Impact Report (EIR) certified by the City Council on
February 4, 2003, and approved by the City (SCH 2002071046). Insofar as no changes are being
made to the previously approved project that would result in anew or substantially greater significant
impact as compared to those identified in the aforementioned EIR, no subsequent CEQA review is
required, as per State CEQA Guidelines section 15162.
CONCLUSION
The original Monrovia Nursery Development Agreement was approved for a ten year term, which
expired in May of 2014. The First Amendment to the Development Agreement will expire February
27, 2015. Staff recommends that the Planning Commission recommend to the City Council the
requested nine (9) month extension to the term of the Development Agreement,
Attachments:
1, Draft Resolution No. 2014-22
RESOLUTION NO. 2014-22
A RESOLUTION OF THE PLANNING COMMISSION OF THE CITY OF
AZUSA RECOMMENDING TO THE CITY COUNCIL OF THE CITY OF
AZUSA APPROVAL AND EXECUTION OF AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT BETWEEN THE CITE' OF AZUSA AND
ROSEDALE LAND PARTNERS II, LLC
WHEREAS, the City of Azusa ("City") and Monrovia Nursery Company entered into that certain
Development Agreement dated as of May 27, 2004 ("Development Agreement"); and.
WHEREAS, the City of Azusa ("City") and Rosedale Land Partners 11, LLC entered into the First
Amendment to the Development Agreement dated as of April 7, 2014 ("Development Agreement");
and
WHEREAS, the Development Agreement provides for the development of a master planned
community project consisting of 1,250 residential units, commercial space and various public and
infrastructure improvements; and
WHEREAS, On August 27, 2004, Monrovia Nursery Company assigned all of its rights, obligations,
title and interest under the Development Agreement to Azusa Land Partners LLC, a Delaware limited
liability company, in accordance with Section 3.6 of the Development Agreement; and
WHEREAS, Azusa Land Partners LLC surrendered all of its rights, obligations, title and interest
under the Development Agreement due to foreclosure, and
WHEREAS, On October 10, 2010 Rosedale Land Partners Il, LLC, a Delaware limited liability
company, obtained all rights, obligations, title and interest of the Development Agreement by
acquiring the subject property pursuant to a Trustee's Deed dated October 1, 2010, pursuant to
Section 3.6 of the Development Agreement; and
WIEREAS, the Development Agreement is set to expire within nine months of the Effective Date
of the First Amendment to the Development Agreement — February 27, 2015; and
WHEREAS, Owner has requested that the term of the Development Agreement be extended; and
WHEREAS, the City and Owner are currently negotiating a long-term extension of the Development
Agreement as well as substantive amendments to adjust the rights and responsibilities of the City and
Owner; and
WHEREAS, the City desires to enter into an amendment to the Development Agreement to extend
the tern of the Development Agreement for nine months in order to allow sufficient time to
conclude negotiations and bring those negotiated amendments to the City Council for approval as it
will be in the best interest of the City and the public interest to do so; and
, ' %
Resolution No. 2014-22
November 19, 2014
Page 2 of -33
WHEREAS, pursuant to Government Code, Sections 65867 and 65868, the Planning Commission
must conduct a duly noticed public hearing to consider the proposed amendment to the Development
Agreement; and
WIEREAS, the Planning Commission has carefully considered all pertinent testimony and the staff
report presented during the public hearing for the proposed amendment to the Development
Agreement,
NOW, THEREFORE, THE PLANNING COMMISSION OF THE CITY OF AZUSA DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1: Based on the entire record before the Planning Commission, all written and
oral evidence presented to the Planning Commission, and the findings made in the staff report and
this Resolution, the Planning Commission of the City of Azusa hereby recommends that the City
Council. adopt the attached ordinance entitled: "AN ORDINANCE OF THE CITY COUNCIL OF
THE CITY OF AZUSA, CALIFORNIA, APPROVING AND AUTHORIZING EXECUTION OF A
SECOND AMENDMENT TO THE DEVELOPMENT AGREEMENT BY AND BETWEEN THE
CITY OF AZUSA AND ROSEDALE LAND PARTNERS II, LLC" which is attached hereto as
Attachment "A" and incorporated herein by reference.
SECTION 2: The Planning Commission finds that the proposed second amendment to the
Development Agreement is in the public interest and reasonably related to the public welfare
because it will provide a limited amount of additional time for the City and Developer to negotiate
additional terms and conditions for future development of the "Rosedale/Monrovia Nursery" Project.
SECTION 3! The Planning Commission also finds that adoption of the proposed second
amendment to the Development Agreement is consistent with the City of Azusa General Plan. The
proposed second amendment does not alter the previously -approved development standards for the
"Rosedale/Monrovia Nursery" Project, whether under the General Plan, applicable Specific Plan,
Zoning Code, or the Development Agreement. Except for extending the term by nine months, all
terms and conditions of the Development Agreement would remain in force and effect. For these
reasons, the proposed second amendment furthers the objectives and policies of each element of the
General Plan and does not obstruct their attainment.
SECTION 4: The ordinance to approve a second amendment to the Development Agreement
is not subject to the California Environmental Quality Act ("CEQA") pursuant to Sections
15060(c)(2) because the activity, which merely involves extending the term of the Development
Agreement for nine additional months, will not result in a direct or reasonably foreseeable indirect
physical change in the environment; and 15060(c)(3) because the activity is not a project as defined
in Section 15378 of the CEQA Guidelines, California Code of regulations, Title 14, Chapter 3,
because it has no potential for resulting in physical change to the environment, directly or indirectly.
SECTION S: The Secretary shall certify to the adoption of this resolution.
Resolution No. 2014-22
November 19, 2014
Page 3 of 3
APPROVED AND ADOPTED by the members of the Planning Commission of Azusa this 19th
day of November, 2014.
..' -1� �'v r� • it 1 11
AZUSA PL"
COMMS n
AIRPERSON
I hereby certify that the foregoing is a txue copy of a resolution adopted by the Planning
Commission of the City of Azusa at a regular meeting thereof held on the 19th day of November,
2014, by the following vote of the Planning Commission:
AYES: DONNELSON, LEE, J . AVILA, S . AVILA, CONT1tEPAS
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
AZUSA PLANNING COMMISSION SECRETARY
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,"� -_ C+ItiFov4' -
ZUS
NOTICE AND CALL FOR
A SPECIAL MEETING
OF THE CITY COUNCIL
CITY OF AZUSA
TO THE MEMBERS OF THE CITY COUNCIL OF THE CITY OF AZUSA:
NOTICE IS HEREBY GIVEN that a Special Meeting of the City Council is hereby called to be held
MONDAY, DECEMBER 15, 2014, at 6:00 p.m. The meeting will convene in the Azusa Auditorium
located at 213 E. Foothill Blvd., Azusa, CA 91702, to take public comment on the agenda item, and there
after, Council will recess to the Human Resources Department Conference Room, City Hall West Wing,
located at 213 E. Foothill Blvd., Azusa, California, to discuss the following item:
AGENDA
A. PRELIMINARY BUSINESS
• Call to Order
• Roll Call
B. PUBLIC COMMENT—Limited to items listed on this Special Meeting Notice.
Each person or representative of a group shall be allowed to speak without interruption for up to five (5)
continuous minutes, subject to compliance with applicable meeting rules, on items listed on this agenda only.
Questions to the speaker or responses to the speaker's questions or comments shall be handled after the speaker
has completed his/her comments.
C. CLOSED SESSION
1. PUBLIC EMPLOYEE APPOINTMENT Pursuant to California Government Code, Section 54957.
Title: City Manager.
D. ADJOURNMENT
1. Adjourn
12/15/2014 1
In compliance with Government Code Section 59957.5, agenda materials are available for inspection by
members of the public at the following locations: Azusa City Clerk's Office - 213 E. Foothill Boulevard,
Azusa City Library - 729 N. Dalton Avenue, and Azusa Police Department Lobby - 725 N. Alameda,
Azusa, California.
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in a
city meeting, please contact the City Clerk at 626-812-5229. Notification three (3) working days prior to
the meeting when special services are needed will assist staff in assuring that reasonable arrangements
can be made to provide access to the meeting.
12/15/2014 2
I HEREBY CERTIFY that I received a copy of the attached "NOTICE OF A SPECIAL
MEETING" of the Azusa City Council to be held on MONDAY, DECEMBER 15, 2014, AT
6:00 P.M. in the Azusa Civic Auditorium, 213 E. Foothill Blvd., Azusa, CA 91702.
NAME DATE & TIME DELIVERED BY
.��n "� '� (l ,lavl tb. {� _eivz .c1 e2-
OSEP R. ROCHA, MAYOR
/.)-1► ( i fit q - ) r""' 6--1e-i fir. u efe2,
R E GO ALE MAYOR PRO-TEM
62- ,'-36- WI t / 2 vl i (& if entQ. int-0-
A GEL ARRILLO, COUNCIL MEMBER
.0� p1/4, 1-2,,4 4:60 ,, ( /e`, u a e Z
URIELl.7 .07--74,-- -._.-,---"*""
AS COUNCILMEMBER
erj i / r
EDWARD J. AL AREZ, CO ILMEMBER
/s/JUANA HERNANDEZ
ASSISTANT/DEPUTY CLERK
AGENDA
REGULAR MEETING OF THE CITY COUNCIL
AND THE SUCCESSOR AGENCY TO
THE FORMER REDEVELOPMENT AGENCY
OF THE CITY OF AZUSA
AZUSA AUDITORIUM MONDAY,DECEMBER 15, 2014
213 EAST FOOTHILL BOULEVARD 6:30 Closed Session
7:30 P.M. Regular Meeting
AZUSA CITY COUNCIL
JOSEPH R. ROCHA
MAYOR
EDWARD J. ALVAREZ ANGEL CARRILLO
COUNCILMEMBER COUNCILMEMBER
URIEL E. MACIAS ROBERT GONZALES
COUNCILMEMBER MAYOR PRO-TEM
6:30 P.M.
1. Call to Order
2. Roll Call
CLOSED SESSION
NOTICE TO THE PUBLIC FOR CLOSED SESSION
Prior to going into closed session the City Council will convene in the Auditorium serving as Council
Chambers to take public comment on the closed session items only. General public comment will be
provided for during the regular portion of the meeting beginning at 7:30 P.M
12/15/2014 - 1 -
1. CONFERENCE WITH LABOR NEGOTIATOR Pursuant to California Government Code.
Section 54957.6.
City Negotiator: Theresa St. Peter, Interim Human Resources Director
Organizations: ACEA (Azusa City Employee Association), CAPP (Civilian Association of Police
Personnel), AMMA (Azusa Middle Management Association) and Executive
Management Employees (Unrepresented).
NOTICE TO THE PUBLIC FOR REGULAR MEETING
In compliance with Government code Section 54957.5, copies of staff reports or other written
documentation relating to each item of business referred to on the Agenda are in file on the Office of the
City Clerk-213 E. Foothill Blvd.; copies for public view are in the Azusa City Library- 729 N. Dalton Ave.,
Azusa Police Department Lobby - 725 N. Alameda Ave., and the City of Azusa Web Page
www.ci.azusa.ca.us. Persons, who wish to speak during the Public Participation portion of the Agenda or
on a Public Hearing item, shall fill out a card requesting to speak and shall submit it to the City Clerk prior
to the start of the City Council meeting. Cards submitted after 7:30 P.M will not be accepted.
7:30 P.M. - REGULAR MEETING OF THE CITY COUNCIL THE SUCCESSOR AGENCY AND
THE PUBLIC FINANCING AUTHORITY.
1. Call to Order
2. Roll Call
3. Pledge to the Flag
4. Invocation—Reverend Jesse Aramburo, Canyon Christian Fellowship.
A. PUBLIC PARTICIPATION
This time has been set aside for persons in the audience to make public comments on items within the
subject matter jurisdiction of the council/agency board that are not listed on this agenda or are listed on
this agenda as an item other than a public hearing item. Members of the audience will have the
opportunity to address the city council/agency board about public hearing items at the time the public
hearing is held. Under the provisions of the Brown Act, the council/agency board is prohibited from taking
action on oral requests, but may refer the matter to staff or to a subsequent meeting. The council/agency
board will respond after public comment has been received. Each person or representative of a group
shall be allowed to speak without interruption.for up to.five (5) continuous minutes, subject to compliance
with applicable meeting rules. Questions to the speaker or responses to the speaker's questions or
comments shall be handled after the speaker has completed his/her comments. Public Participation will be
limited to sixty (60) minutes.
B. REPORTS, UPDATES,AND ANNOUNCEMENTS FROM STAFF/COUNCIL
1. Recreation Department: Request for certificates for the 2014 SCMAF Boys "B" Division Flag
Football Champions, to be presented at the January 5, 2015 City Council Meeting.
2. Mayor Rocha: Request for a certificate welcoming new business, California Grill Express, to Azusa, to
be presented December 17, 2014, at 10 a.m.
3. Mayor Rocha: Discussion regarding establishing a Youth Council Commission Advisory Group.
4. Councilmember Carrillo: Request for $200 sponsorship for the Gladstone High School Video
Production Class,to purchase equipment.
12/15/2014 -2-
C. SCHEDULED ITEMS
1. PUBLIC HEARING — AMENDMENT TO THE MONROVIA NURSERY DEVELOPMENT
AGREEMENT, SPECIFIC PLAN, GENERALLY LOCATED NORTH OF 9TH STREET AND
EAST OF PASADENA AVENUE TO THE EASTERN CITY OF AZUSA BOUNDARY LINE.
RECOMMENDED ACTION:
Open the Public Hearing, receive testimony, close the Public Hearing and introduce Ordinance No.
14-06, amending the Monrovia Nursery Development Agreement to grant a nine (9) month extension;
this project is exempt from any additional review of the California Environmental Quality Act (CEQA)
based on Government Code Section No. 15162.
D. CONSENT CALENDAR
The Consent Calendar adopting the printed recommended actions will be enacted with one vote. If
Councilmembers or Staff wishes to address any item on the Consent Calendar individually, it will be
considered under SPECIAL CALL ITEMS.
1. MINUTES OF THE REGULAR MEETING OF THE SPECIAL MEETING OF NOVEMBER
24, 2014 AND THE REGULAR MEETING DECEMBER 1, 2014.
RECOMMENDED ACTION:
Approve minutes as written.
2. RESOLUTION AUTHORIZING PAYMENT OF WARRANTS BY THE CITY.
RECOMMENDED ACTION:
Adopt Resolution No. 14-C84 allowing certain claims and demands and specifying the funds out of
which the same are to be paid.
3. HUMAN RESOURCES ACTION ITEMS.
RECOMMENDED ACTION:
Approve Personnel Action Requests in accordance with the City of Azusa Civil Service Rules and
applicable Memorandum of Understanding(s).
4. CITY TREASURER'S STATEMENT OF CASH AND INVESTMENT BALANCES FOR THE
MONTH OF OCTOBER 2014.
RECOMMENDED ACTION:
Receive,review, and file the City Treasurer's Report for the month of October 2014.
5. CONTRACT WITH CALIFORNIA COMMERCIAL POOL INC., 2014-2015 CIP PROJECT #
12/15/2014 - 3 -
•
410-15F, REPLASTERING OF THE LARGE POOL OF THE AZUSA AOUATICS CENTER
AT JAMES SLAUSON PARK.
RECOMMENDED ACTION:
Award the contract to California Commercial Pool Inc. in the amount of $107,000.00 for the 2014-
2015 CIP Project #410-15F, Re-plastering of the large pool of the Azusa Aquatics Center at James
Slauson Park.
6. AGREEMENT CONCERNING THE AUTHORITY AND RESPONSIBILITIES OF AZUSA
PACIFIC UNIVERSITY AND THE AZUSA POLICE DEPARTMENT.
RECOMMENDED ACTION:
Approve the Police Department to enter into a one year Memorandum of Understanding (MOU) with
Azusa Pacific University (APU) concerning the authority and responsibilities of APU and the Police
Department.
7. INCREASE CONTRACT WITH SILVER AND WRIGHT, LLP FOR CODE
ENFORCEMENT SERVICES.
RECOMMENDED ACTION:
Approve the request to increase the contract for Silver and Wright, LLP by$30,000 to cover necessary
legal fees.
E. SUCCESSOR AGENCY RELATED BUSINESS.
1. RESOLUTION AUTHORIZING PAYMENT OF WARRANTS BY THE SUCCESSOR
AGENCY.
RECOMMENDED ACTION:
Adopt Resolution No. 14-R20.
F. ADJOURNMENT
UPCOMING MEETINGS:
January 5, 2015, 6:30 p.m. Ceremonial/Closed Session, 7:30 p.m. Regular Meeting;
January 20, 2015, (Tuesday) 6:30 p.m. Ceremonial/Closed Session, 7:30 p.m. Regular Meeting.
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in a
city meeting,please contact the City Clerk at 626-812-5229. Notification three (3) working days prior to
the meeting when special services are needed will assist staff in assuring that reasonable arrangements
can be made to provide access to the meeting.
12/15/2014 -4 -
iFG"
:< ^
DECLARATION OF POSTING CITY COUNCIL,
SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY,
AND PUBLIC FINANCING AUTHORITY AGENDA
•
Iejer
, ..`% declare that:
I am an employee of the City of Azusa.
On /2///�/ / I posted copies of the Agenda, as stated above for
the meeting of A.Z./S// , in the City Clerk's Office, 213 E. Foothill Blvd.;
the lobby of the Police Depaitment, 725 N. Alameda Ave.; the Civic Auditorium, 213 E. Foothill
Blvd.; the City Library, 729 N. Dalton Ave.; and the and the City's Web Page
www.ci.azusa.ca.us. A true, correct and complete copy of the agenda which I posted is attached
hereto.
I completed posting of the agendas as described in Paragraph two, at 4430 Q,p 47- on
the date of posting.
Access to the agenda posted in the lobby of the Police Department and the Azusa City Library
reference desk is available to members of the public during their normal business hours.
The foregoing is within my personal knowledge and if called as a witness in a court of law, I
could testify competently thereto.
I declare under penalty of perjury that the forgoing is true and correct.
EXECUTED 12-/////`74 , at Azusa, California.
Ir
STAFF M BER
CITY CLERK'S OFFICE
CITY OF AZUSA
_ _
ZUS
DECLARATION OF POSTING CITY COUNCIL,
SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY,
AND PUBLIC FINANCING AUTHORITY AGENDA
I, rt W4 2 declare that:
I am an employee of the City of Azusa.
OnI �S l a-0(+-{ I posted copies of the Agenda, as stated above for
the meeting of \' 41 j f�Ol Li , in the City Clerk's Office, 213 E. Foothill Blvd.;
the lobby of the Police Department, 725 N. Alameda Ave.; the Civic Auditorium, 213 E. Foothill
Blvd.; the City Library, 729 N. Dalton Ave.; and the and the City's Web Page
www.ci.azusa.ca.us. A true, correct and complete copy of the agenda which I posted is attached
hereto.
I completed posting of the agendas as described in Paragraph two, at Li . '�j0 r i,vi on
the date of posting.
Access to the agenda posted in the lobby of the Police Department and the Azusa City Library
reference desk is available to members of the public during their normal business hours.
The foregoing is within my personal knowledge and if called as a witness in a court of law, I
could testify competently thereto.
I declare under penalty of perjury that the forgoing is true and correct.
EXECUTED Q1 ( )1D - , at Azusa, California.
NatV
STAFF MEMBER
CITY CLERK'S OFFI
CITY OF AZUSA
1
SCHEDULED ITEM
C-1
TO: HONORABLE MAYOR AND CITY COUNCIL
FROM: KURT CHRISTIANSEN, DIRECTOR OF ECONOMIC AND COMMUNITY
DEVELOPMENT
DATE: DECEMBER 15, 2014
SUBJECT: SECOND AMENDMENT TO THE MONROVIA NURSERY DEVELOPMENT
AGREEMENT
_________________________________________________________________________________
RECOMMENDATION
It is recommended that the City Council adopt the ordinance granting a nine (9) month extension of
the Monrovia Nursery Development Agreement.
BACKGROUND
The Rosedale project was originally approved by the City Council on February 3, 2003, and
approved later by Azusa voters on May 4, 2004. A Development Agreement dated May 27, 2004,
was approved as part of the entitlements granted to Monrovia Nursery, which is an important part of
the Rosedale project in that it binds both the Developer and the City to certain commitments that are
important to the project. On February 26, 2014, the Planning Commission voted to recommend that
the City Council adopt the time extension. On March 17, 2014, the City Council adopted the first
amendment to the Monrovia Nursery Development Agreement, extending the agreement by 9
months.
A second development agreement amendment is proposed to extend the current Monrovia Nursery
Development Agreement between the City of Azusa and Rosedale Land Partners II (Developer) by
an additional nine (9) months. Staff has been negotiating changes to the Development Agreement
and an extension of time is needed to provide the City and Developer with more time. The
proposed extension does not amend any of the prior obligations of the parties and merely extends the
term by an additional nine (9) months. On November 19, 2014, the Planning Commission voted to
recommend that the City Council adopt the time extension.
CONCLUSION
The original Monrovia Nursery Development Agreement was approved for a ten year term, which
expired in May, 2014. The First Amendment to the Development Agreement will expire February
27, 2015. On November 19, 2014 the Planning Commission held a public hearing to consider the
APPROVED
COUNCIL MEETING
First Reading, 12/15/2014
2
Second Amendment and voted to recommend to the City Council the requested nine (9) month
extension to the term of the Development Agreement.
ATTACHMENTS
November 19, 2014, Planning Commission Staff Report
Planning Commission Resolution 2014-22
Draft Ordinance for Adoption
1
ORDINANCE NO. ____
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
AZUSA, CALIFORNIA, APPROVING AND AUTHORIZING
EXECUTION OF AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT BY AND BETWEEN THE
CITY OF AZUSA AND ROSEDALE LAND PARTNERS II
WHEREAS, the City of Azusa (“City”) and Monrovia Nursery Company entered into
that certain Development Agreement dated as of May 27, 2004 (“Development Agreement”);
and
WHEREAS, the City of Azusa (“City”) and Rosedale Land Partners II, LLC entered into
the First Amendment to the Development Agreement dated as of April 7, 2014 (“Development
Agreement”); and
WHEREAS, the Development Agreement provides for the development of a master
planned community project consisting of 1,250 residential units, commercial space and various
public and infrastructure improvements; and
WHEREAS, on August 27, 2004, Monrovia Nursery Company assigned all of its rights,
obligations, title and interest under the Development Agreement to Azusa Land Partners, LLC, a
Delaware limited liability company, in accordance with Section 3.6 of the Development
Agreement; and
WHEREAS, Azusa Land Partners, LLC surrendered all of its rights, obligations, title and
interest under the Development Agreement due to foreclosure; and
WHEREAS, on October 10, 2010, Rosedale Land Partners II, LLC, a Delaware limited
liability company, obtained all rights, obligations, title and interest of the Development
Agreement by acquiring the subject property pursuant to a Trustee’s Deed dated October 1,
2010, pursuant to Section 3.6 of the Development Agreement; and
WHEREAS, the Development Agreement is set to expire within nine months of the
Effective Date of the First Amendment to the Development Agreement – February 27, 2015; and
WHEREAS, Owner has requested that the term of the Development Agreement be
extended; and
WHEREAS, City and Owner are currently negotiating a long-term extension of the
Development Agreement as well as substantive amendments to adjust the rights and
responsibilities of the City and Owner; and
2
WHEREAS, the City desires to amend the Development Agreement to extend the term
by nine (9) months in order to allow sufficient time to conclude negotiations and bring those
negotiated amendments to the City Council for approval, as it will be in the best interest of the
City and the public interest to do so; and
WHEREAS, the amendment to the Development Agreement is consistent with the City
of Azusa General Plan and the Rosedale Specific Plan and contains all necessary elements
required by Government Code section 65864 et seq. and Section Division 14 of the City of
Azusa Municipal Code; and
WHEREAS, on November 19, 2014, the City Planning Commission held a duly noticed
public hearing on the proposed amendment to the Development Agreement, and by Resolution
No. 2014-22 recommended to the City Council approval of the proposed amendment; and
WHEREAS, on December 15, 2014, the City Council of the City of Azusa conducted a
public hearing pursuant to Government Code Section 65867, notice of which was provided in
accordance with Government Code Section 65090 and 65091, at which hearing all persons
wishing to testify in connection with the proposed amendment to the Development Agreement
were heard and at which the amendment to the Development Agreement was comprehensively
reviewed; and
WHEREAS, the City Council of the City of Azusa reviewed and studied the amendment
to the Development Agreement and found it to comply with the California Environmental
Quality Act (“CEQA”) as more fully described below.
THE CITY COUNCIL OF THE CITY OF AZUSA DOES HEREBY ORDAIN AS
FOLLOWS:
SECTION 1. Based on the entire record before the City Council of the City of Azusa
(“Council”) and all written and oral evidence presented to the Council, the Council finds the
Second Amendment to the Development Agreement attached here to as Exhibit “A” (“Second
Amendment”) is consistent with the General Plan of the City of Azusa (“General Plan”) and the
Rosedale Specific Plan and systematically implements the goals and objectives of the General
Plan and Rosedale Specific Plan.
A. The Second Amendment is consistent with the objectives, policies, general
land uses and programs specified in the General Plan and the Rosedale Specific Plan.
B. The Second Amendment will not be detrimental to the health safety and
general welfare of persons residing in the immediate area nor be detrimental or injurious to the
general welfare of the residents of the City as a whole.
3
C. The Second Amendment will not adversely affect the orderly development
of property or the preservation of property values.
D. The Second Amendment is consistent with the provisions of Government
Code sections 65864 through 65869.5 and Division 14 of the Azusa Municipal Code.
SECTION 2. Based on the entire record before the Council and all written and oral
evidence presented to the Council, the Council hereby finds and determines, that it can be seen
with certainty that adoption of this Ordinance and approval of the Second Amendment will not
have a significant adverse effect on the environment. Thus, the adoption of this Ordinance and
approval of the Second Amendment is exempt from the requirements of the California
Environmental Quality Act (“CEQA”) pursuant to Sections 15061(b)(3) of the CEQA
Guidelines. Staff is directed to file a Notice of Exemption with the Los Angeles County
Recorder's Office within five (5) working days of adoption of this Ordinance.
SECTION 3. The Council hereby approves the Second Amendment in substantially the
form presented to the Council, together with such additions favoring the City and non-
substantive revisions as may be approved by both the City Manager and the City Attorney during
execution of the Second Amendment.
SECTION 4. The City Manager is hereby authorized to execute the Second Amendment
on behalf of the City and City staff is authorized to take any action and execute any and all
necessary documents to implement the Second Amendment.
SECTION 5. The City Clerk is directed to record the Second Amendment with the Los
Angeles County Recorder, no later than 10 days after the Second Amendment is fully executed.
SECTION 6. This Ordinance shall be in full force and effect thirty (30) days after its
passage.
SECTION 7. A summary of this Ordinance shall be published in the manner required by
law.
PASSED, APPROVED AND ADOPTED this______ day of _______________, 2015.
__________________________________________
Joseph Romero Rocha
Mayor
ATTEST:
__________________________________________
Jeffrey Lawrence Cornejo, Jr.
City Clerk
EXHIBIT “A”
SECOND AMENDMENT TO THE DEVELOPMENT AGREEMENT
[Attached behind this page]
RECORDED AT THE REQUEST OF
AND WHEN RECORDED RETURN TO:
City of Azusa
213 East Foothill Boulevard
Azusa, California 91702
Attention: City Manager
_____________________________________________________________________
Exempt from filing fees – Gov’t Code §6103
(Space above for Recorder’s use only)
SECOND AMENDMENT TO THE DEVELOPMENT AGREEMENT
THIS SECOND AMENDMENT TO THE DEVELOPMENT AGREEMENT (the “Second
Amendment”) is dated as of ________, 2015, and is being entered into by and among
the City of Azusa, a California municipal corporation (“City”), and the City of Azusa
Light and Water Department (“ALW”) (jointly referred to as the “City”) and Rosedale
Land Partners II, LLC, a Delaware limited liability company (“Owner”), with reference
to the following facts:
A. City and Monrovia Nursery Company, a California corporation, entered
into that certain Development Agreement between City and Owner’s predecessor in
interest dated as of May 27, 2004, and recorded on July 29, 2004, in the Official
Records of Los Angeles County as Document No. 04-1952514, (“Development
Agreement”), covering that certain property more particularly described in the
Development Agreement.
B. The Development Agreement provides for the development of a master
planned community project consisting of 1,250 residential units, commercial space and
various public and infrastructure improvements.
C. On August 27, 2004, Monrovia Nursery Company assigned all of its
rights, obligations, title and interest under the Development Agreement to Azusa Land
Partners, LLC, a Delaware limited liability company, in accordance with Section 3.6 of
the Development Agreement; and
D. Azusa Land Partners, LLC surrendered all of its rights, obligations, title
and interest under the Development Agreement due to foreclosure; and
E. On October 10, 2010, Rosedale Land Partners II, LLC, a Delaware
limited liability company, obtained all rights, obligations, title and interest of the
Development Agreement by acquiring the subject property pursuant to a Trustee’s
Deed dated October 1, 2010, pursuant to Section 3.6 of the Development Agreement;
and
45635.01000\8357311.2
F. The First Amendment to Development Agreement was approved and
entered into by the City and Owner on April 7, 2014 and is set to expire on February
27, 2015.
G. Owner has requested that the term of the Development Agreement be
extended pursuant to Section 3.5 of the Development Agreement. City and Owner are
currently negotiating a long-term extension of the Development Agreement as well as
substantive amendments to adjust the rights and responsibilities of the parties.
H. The parties desire to amend the Development Agreement to extend the
term by nine (9) months in order to allow sufficient time to conclude negotiations and
bring those negotiated amendments to the City Council for approval. Nothing set forth
herein shall amend or affect the additional five year extension of the Development
Agreement pursuant to the last paragraph of Section 3.5.
I. All capitalized but undefined terms used herein shall have the same
meaning as set forth in the Development Agreement.
J. On November 19, 2014, the City Planning Commission held a duly
noticed public hearing on this Second Amendment and by Resolution No. 2014-22
recommended to the City Council approval of this Amendment.
K. On December 15, 2014, the City Council held a duly noticed public
hearing on this Second Amendment. On January 5, 2014, the City Council adopted
Ordinance No. ___________, approving this Second Amendment and affirming the
findings required under Government Code Section 65867.5 for approval of this Second
Amendment.
NOW, THEREFORE, in consideration of the mutual terms and conditions
contained herein, the parties agree to amend the Development Agreement as follows:
1. Effective Date. This Second Amendment shall become effective on the
date on which all of the following are true: (i) this Second Amendment has been
executed by Owner’s duly authorized officers and officials and delivered to the City; (ii)
this Second Amendment has been approved by ordinance of the City Council of the
City of Azusa and such ordinance has become effective; and (iii) this Second
Amendment has been duly executed by the Mayor and delivered to Owner.
Notwithstanding the above, the “Effective Date”, for purposes of the Development
Agreement, shall remain as defined in Section 3.1.9 of the Development Agreement.
2. Recordation. The City and Owner hereby consent to the recordation of
this Second Amendment in the Official Records of Los Angeles County, California at
any time following the effective date of this Second Amendment.
3. Amendment to Section 3.5. The first and second paragraphs of Section
3.5 of the Development Agreement are hereby amended to read as follows:
45635.01000\8357311.2
“3.5. Term. The term (“Term”) of this Agreement shall commence on the
Effective Date and shall continue until November 27, 2015, unless terminated sooner
pursuant to a specific provision of this Agreement. The Term of this Agreement shall
be extended for one (1) additional five (5) year period following the expiration of the
initial ten (10)-year period provided above upon the occurrence of all of the following:
(i) The Owner shall give written notice to the City no later than one hundred
twenty (120) days before the expiration of the initial ten (10)-year period that the
Owner desires to extend this Agreement for the additional five (5)-year period;
. . . .”
4. This Second Amendment may be executed in any number of identical
counterparts, each of which shall be deemed to be an original, and all of which
together shall be deemed to be one and the same instrument when each party has
signed one such counterpart.
5. Not later than ten (10) days following the Effective Date of this Second
Amendment, the City Clerk shall record this Second Amendment with the Los Angeles
County Recorder’s Office.
6. Other than as set forth herein, all of the terms and conditions of the
Development Agreement shall remain in full force and effect. To the extent of any
inconsistency between the terms and conditions of this Second Amendment and the
Development Agreement, the terms and conditions of this Second Amendment shall
control.
[Signatures on following page]
45635.01000\8357311.2
45635.01000\8357311.2
IN WITNESS WHEREOF, the parties hereto have executed this Second
Amendment as of the date and year first written above.
CITY
City of Azusa
By:
City Manager
Date: _____________
ATTEST:
By:
Jeffrey Lawrence Cornejo, Jr.
City Clerk
APPROVED AS TO FORM:
By:
Best Best & Krieger LLP
City Attorney
Date:
OWNER
ROSEDALE LAND PARTNERS II, LLC
a Delaware limited liability company
By: CDG ROSEDALE INVESTMENT, LLC,
a Delaware limited liability company its
Administrative Member
By: ________________________________
Its: ________________________________
Date: _______________
NOTARY ACKNOWLEDGMENT
STATE OF CALIFORNIA )
) ss.
COUNTY OF LOS ANGELES )
On ______________, 20___ before me, _________________________, notary
public, personally appeared ___________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California
that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
__________________________________________
Signature of Notary Public
N - 1
45635.01000\8357311.2
45635.01000\8357311.2
NOTARY ACKNOWLEDGMENT
STATE OF CALIFORNIA )
) ss.
COUNTY OF ORANGE )
On ______________, 20___ before me, _________________________, notary
public, personally appeared ___________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California
that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
__________________________________________
Signature of Notary Public
NOTARY ACKNOWLEDGMENT
STATE OF CALIFORNIA )
) ss.
COUNTY OF ORANGE )
On ______________, 20___ before me, _________________________, notary
public, personally appeared ___________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California
that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
__________________________________________
Signature of Notary Public
N - 3
45635.01000\8357311.2
45635.01000\8357311.2
NOTARY ACKNOWLEDGMENT
STATE OF CALIFORNIA )
) ss.
COUNTY OF ORANGE )
On ______________, 20___ before me, _________________________, notary
public, personally appeared ___________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California
that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
__________________________________________
Signature of Notary Public
APPROVED
COUNCIL MEETING Or
Date,
�• s w u`
w
�?d� ��' � ZUS
CONSENT ITEM
D-3
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: THERESA ST. PETER, INTERIM DIRECTOR OF HUMAN RESOURCES
VIA: DON PENMAN, INTERIM CITY MANAGER
DATE: DECEMBER 15, 2014
SUBJECT: HUMAN RESOURCES ACTION ITEMS
RECOMMENDATION
It is recommended that the City Council approve the following Personnel Action Requests in accordance with the City of Azusa
Civil Service Rules and applicable Memorandum of Understanding(s).
BACKGROUND
On December 9, 2014, the Personnel Board confirmed the following Department Head recommendations regarding the
following Personnel Action requests.
A. MERIT INCREASE AND/OR REGULAR APPOINTMENT:
DEPARTMENT NAME CLASSIFICATION ACTION/ RANGE/STEP
EFF DATE BASE MONTHLY
SALARY
Police Stacy Gerszewski Police Dispatcher Merit Inc/5 9166/5
10/13/2014 $4,754.78
Police Jason Poulos Police Officer Merit Inc/5 6101/5
11/19/2014 $7,241.69
Police Erin Coulter Police Officer Merit Inc/5 6101/5
12/17/2014 $7,241.69
Police Rocky Wenrick Police Corporal Reg. Appt 6106/6
8/4/2014 $7,983.97
Public Works Phillip Flores Engineering Assistant Reg. Appt/Merit Inc/2 4186/2
Reg. Appt $4,765.21
10/22/2014
B. PROMOTION—The following promotion(s)have been requested by the Director of Utilities pursuant to the Rules of
the Civil Service System.
DEPARTMENT NAME PROMOTION EFFECTIVE RANGE/STEP
FROM/TO DATE BASE MO. SALARY
Utilities Roberto Street Maintenance Worker III TBD 5167/2
Nodarse Water Distribution Worker I $4,139.54
C. SEPARATION: The following separations are submitted for informational purposes.
DEPARTMENT NAME CLASSIFICATION EFFECTIVE DATE
Utilities George Gaytan Water Distribution Crew Supervisor 10/2/2014
Public Works Chip Taylorson Street Maintenance Worker'I 11/20/2014
Police John Momot Police Captain 12/2/2014
FISCAL IMPACT
There is no fiscal impact, as positions listed are funded in approved department budgets.
APPROVED
COUNCIL MEETING
Date, 11-41',1t Ar
(; t Mrd Atf
CONSENT ITEM
D-4
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: ART VASQUEZ, CITY TREASURER
DATE: DECEMBER 15, 2014
SUBJECT: CITY TREASURER'S STATEMENT OF CASH AND INVESTMENT
BALANCES FOR THE MONTH OF OCTOBER 2014
RECOMMENDATION:
It is recommended that the Council Members receive, review, and file the City Treasurer's
Report for the City of Azusa for the month of October 2014.
BACKGROUND:
Transmitted herewith is the City Treasurer's Statement of Cash Balances for the City of Azusa
for the month of October 2014. City investments are made in accordance with the City's
Investment Policy adopted and approved with Resolution No. 05-C16 dated, February 22, 2005,
and Government Code Section 53600 et seq.
FISCAL IMPACT:
The balances of cash, investments, and projected revenues for the next six months are expected
to be sufficient to meet cash disbursement requirements of the City for at least the next six
months.
The change in total cash in bank and investments (at cost) from September 30, 2014 to October
31, 2014 is a net decrease of$1,089,207.26.
The change in total cash in bank and investments (at market) from September 30, 2014 to
October 31, 2014 is a net decrease of$1,019,218.41.
CITY OF AZUSA TREASURER'S REPORT
Prepared by: Art Vasquez,Treasurer
Treasury Checking Accounts and Certificates of Deposit October 31,2014
Held in Wells Fargo Bank
Face Maturity Interest or' Balance
Account Number
Coupon Description or
Amount Date Rate or CUSIP Market Value
Checking Accounts
General Checking Account XXX-XXX 1244 61,213.00
Stagecoach Sweep Account DDA XXX-XXX1244 3,947,625.73
Worker's Compensation Checking(ZBA account) XXXX-XX3279 0.00
Payroll Checking(ZBA account) XXXX-XX 1393 0 00
Police Detective Petty Cash Fund XXX-XXX2231 3,109.06
Section 108
0.020% Choice IV-Public Fund Account XXX-XXX2239 30,653.28
Covington Endowment
WFB Advantage Heritage Money Market Fund(rated AAAm/Aaa) WFB XXXX7554 918.44
100,000 05/30/17 1.100% Certificate of Deposit Goldman Sachs Bank Matures 5/30/17 CUSIP 38147JC75 99,804.50
Sewer Bond Fund
WFB Advantage Heritage Money Market Fund(rated AAAm/Aaa) WFB XXXX1829 19,420.38
250,000 03/28/17 0.750% Certificate of Deposit Georgia B&T Matures 3/28/17 CUSIP 373128EC7 250,202.50
Philleo TR FRO Azusa
WFB Money Market Fund WFB XXXX8700 7,484.83
Investments In Fixed Income.Equities,Real Asset Funds&Other 165,863 09
TOTALS WELLS FARGO BANK ACCOUNTS 4,586,294.81
Page 1
CITY OF AZUSA TREASURER'S REPORT
Prepared by: Art Vasquez,Treasurer
October 31,2014
9/30/2014
Market Price
Coupon Maturity Settlement ** Market Interest Received Fiscal
Broker Face Amount Description Rate Date Acct/Cusip No. Date Principal (Changes Value*** Year to Date*
Monthly)
City of Azusa Investments - Certificates of Deposit-FDIC Insured
CERTIFICATES OF DEPOSIT SOLD OR MATURED DURING FISCAL YEAR 1,918.63
Wachovia Sec 100,000.00 Ally Bank UT 0.950% 02/08/15 02005QYS6 02/08/12 100,000.00 100.239 100,239.00 471.10
245,000.00 American Express Bank,FSB 2.050% 07/31/19 02587CAM2 07/31/14 245,000.00 99.388 243,500.60
Higgins/RBC 245 000.00 Bank Baroda New York 1.100% 12/27/16 06062ACV9 12/26/13 245,000.00 100.154 245,377.30
Wachovia Sec 200,000.00 Bank Hapoalim NY 1.000% 07/24/15 06251AYD6 07/24/12 200,000.00 100.479 200,958.00 991.78
Wachovia Sec 200,000.00 Barclays Bank of Delaware 1.600% 01/11/16 06740KFS1 01/11/12 200,000.00 101.322 202,644.00 1,569.32
Wachovia Sec 200,000.00 CIT Bank SLC 1.450% 11/14/14 17284AH43 11/14/11 200,000.00 100.029 200,058.00
Multi Bank Securities. 245,000.00 Comenity Cap Bank 1.850% 10/09/18 20033AHA7 10/16/14 244,265.00 99.186 243,005.70 (111.76)
Wachovia Sec 200,000.00 Compass Bank Birmingham AL 1.000% 12/29/14 20451 PACO 06/29/12 200,000.00 100.096 200,192.00
Gillford/Stern Agee 245,000.00 GE Capital retail Bank 1.000% 12/20/16 36157QTX5 12/20/13 245,000.00 99.837 244,600.65
Wachovia Sec 200,000.00 Goldman Sachs Group,Inc. 1.200% 03/07/16 38143ALTO 03/07/12 200 000.00 100.543 201,086.00 1,209.86
Wachovia Sec 200,000.00 Huntington National Bank 0.750% 12/08/14 446438QL0 06/08/12 200,000.00 100.059 200,118.00
WFB 200,000.00 JP Morgan Chase 0.500% 02/16/16 48124.1SS8 02/15/13 200,000.00 99.659 199,318.00 487.67
First Clearing Corp 245,000.00 Key Bank National Association 0.450% 03/13/15 49306SRH1 03/13/13 245,000.00 100.074 245,181.30 555.78
Wachovia Sec 200,000.00 Merrick Bank South Jordan UT 0.900% 01/25/16 59012YU96 07/25/12 200,000.00 100.739 201,478.00 601.66
Wachovia Sec 200,000.00 Safra National Bank 0.800% 06/29/15 786580T83 07/28/12 200,000.00 100.448 200,896.00
Wachovia Sec 200,000.00 Sallie Mae Bank Murray UT 1.100% 08/10/15 795450NT8 08/08/12 200,000.00 100.497 200,994.00 1,090.96
Wachovia Sec 200,000.00 State Bank of India NY 1.250% 06/22/15 856284F74 06/22/12 200,000.00 100.461 200,922.00
Wachovia Sec 245,000.00 Webster Bank NA 1.000% 12/12/17 94768NJD7 12/12/12 245,000.00 100.623 246,526.35
Wachovia Sec 245,000.00 Wells Fargo Bank WFCO 0.950% 02/28/18 94986TMB0 02/27/13 245,000.00 100.117 245,286.65 586.66
TOTALS 4,315,000.00 4,014,265.00 4,022,381.55 9,371.66
Page 2
CITY OF AZUSA TREASURER'S REPORT '
Prepared by: Art Vasquez,Treasurer October 31,2014
Market Price
Coupon Maturity SettlementMarket Interest Received Fiscal
Broker Face Amount Description. Acct/Cusip No. Principal** (Changes
Rate Date Date Value.** Year to Date.
Monthly)
City of Azusa Investments - AAA Rated Federal Agency Bonds
BONDS CALLED OR MATURED DURING FISCAL YEAR 21,25000
Gilford/Steme Agee 1,000,000 FHLB 1.000 STEP 06/26/19 1.000% 06/26/19 3130A2EC6 06/26/14 1,000,000.00 100.136 1,001,360.00
Gilford Sec 1,000,000 FFCB 0.7706/15/17 0.770% 06/15/17 3133EC5L4 12/05/12 999,300.00 99.641 996,410.00
Gilford Sec 1,000,000 FFCB 0 900 12/26/17 0.900% 12/26/17 3133EC845 12/26/12 999,500.00 99.463 994,630 00
Gilford Sec 1,000,000 FFCB 0.980 09/18/17 0.980% 09/18/17 3133EAX29 09/20/12 1,000,000.00 99.774 997,740.00 4,900 00
Gilford Sec 1,000,000 FFCB 1.0303/12/18 1.030% 03/12/18 3133ECHS6 03/12/13 1,000,000.00 99.646 996,460.00 5,150.00
RBC Dain Rauscher 1,000,000 FFCB 1.050 3/14/18 1.050% 03/14/18 3133ECJ39 03/14/13 999,500.00 99.583 995,830.00 5,250.00
Higgins 1,000,000 FFCB 1.100 06/20/17 1.100% 06/20/17 3133EAVA3 06/20/12 1,000,000.00 100.005 1,000,050.00
Gilford Sec 1,000,000 FHLB 085 07/24/17 0.850% 07/24/17 313380WR4 10/24/12 1,000,000 00 99.296 992,960 00 4,250.00
Gilford Sec 1,500,000 FHLB 0.800 05/23/17 0.800% 05/23/17 313381AN5 11/23/12 1,500,000 00 99.451 1,491,765.00
Gilford Sec 1,000,000 FHLB 0.85008/15/17 0.850% 08/15/17 313381Z24 02/15/13 1,000,000.00 99.452 994,520 00, 4,250.00
Gilford/Sterne Agee 1,000,000 FFCB 1.180 09/26/17 1.180% 09/26/17 3133EDCJ9 12/26/13 1,000,000 00 100.006 1,000,060.00 5,900.00
Gilford Sec 1,000,000 FHLB 0.980 11/15/17 0.980% 11/15/17 3133817D1 11/15/12 1,000,000.00 99.139 991,390.00
WFB 1,000,000 FHLB 1.00001/30/18 1.000% 01/03/18 313381TW5 01/30/13 1,000,000.00 99.169 991,690.00 5,000.00
Gilford/Steme.Agee 1,000,000 FHLB 1.32501/16/18 1.325% 01/16/18 3130A2GP5 07/16/14 1,000,000.00 100.086 1000,860.00
Higgins 1,000,000 FHLB 1.375 6/27/18 1 375% 06/27/18 313383JP7 6/27/2013 1,000,000.00 99.688 996,880.00
Higgins 1,000,000 FNMA 1.050 05/25/18 1.050% 05/25/18 3135G0XK4 05/30/131,000,000.00 98.103 981,030.00
Gilford/Steme Agee 1,000,000 FFCB 1.60010/23/18 1.600% 10/23/18 3133EDZ96 10/24/14 999,000.00 99.431 994,310.00 (177 78)
Gilford/Sterne Agee 1,000,000 FHLB 2.07004/15/19 2.070% 04/15/19 313041GQ5 04/15/14 1,000,000.00 100.010 1,000,100.00 10,350.00
Gilford/Sterne Agee 1,000,000 FHLB 1.25001/09/18 1.250% 01/09/18 3130A0GC8 01/08/14 994,180.00 99.863 998,630.00 6,250.00
Gilford/Sterne Agee 1,000,000 FHLB 1.000 STEP 06/19/2019 1.000% 06/19/19 - 3130425W2 06/19/14 999,500.00 100.094 1,000,940 00
Gilford/Sterne Agee 1,000,000 FHLB 1.750 10/23/18 1.750% 10/23/18 3130A3BE3 10/02/14 1,000,000.00 99.936 999,360.00
Gilford/Sterne Agee 1,000,000 FHLMC 0.65 STEP 08/28/19 0.650% 08/28/19 3134G5FE0 08/28/14 1,000,000.00 100.038 1,000,380.00
Gilford/Sterne Agee 1,000,000 FNMA 2.00 08/28/19 2.000% 08/28/19 3136G23X3 08/28/14 1,000,000.00 100.589 1,005,890.00
Gilford/Sterne Agee 1,000,000 FHLB 1.000 STEP 05/28/19 1.000% 05/28/19 3130A1X52 05/28/14 1,000,000.00 100.045 1,000,450.00
TOTALS 28,500,000 24,490,980.00 24,423,695.001 72,372.22.
WFB-CITY THIRD PARTY CUSTODIAL TRUST ACCT 0.070% N/A N/A N/A 1,377,263.83 100 000 1,377;263.831'. 184.88
LAW CITY LOCAL AGENCY INVESTMENT FUND 0.261% N/A N/A N/A 16,845,194.47 100 000 16,845,194.471 9,697:42
Page 3
CITY OF AZUSA TREASURER'S REPORT
Prepared by: Art Vasquez,Treasurer
October 31,2014
Market Price
Coupon Maturity Settlement Market Interest Received Fiscal
Broker Face Amount Description Rate Date Acct/Cusip No. Date Principal** (Changes Value*** Year to Date*
Monthly)
Light&Water Fund Investments - Certificates of Deposit-FDIC Insured
CERTIFICATES OF DEPOSIT SOLD OR MATURED DURING FISCAL YEAR 302.47
Higgins/RBC 245,000.00 Bank Baroda New York 1.100% 12/27/16 06062ACV9 12/24/13 245,000.00 100.154 245,377.30
Wachovia Sec 40,000.00 Bank Hapoalim NY 1.000% 07/24/15 06251AYD6 07/24/12 40,000.00 100.479 40,191.60 198.36
Wachovia Sec 40,000.00 BMW Bank of NA 1.350% 04/27/16 05568PW45 04/27/12 40,000.00 100.899 40,359.60 270.74
Wachovia Sec 200,000.00 Discover Bank Greenwood DE 1.050% 05/11/15 254671AR1 05/09/12 200,000.00 100.366 200,732.00
Wachovia Sec 200,000.00 GE Capital Financial Inc. 1.250% 05/18/16 36160XD87 05/18/12 200,000.00 100.580 201,160.00
Wachovia Sec 235,000.00 GE Capital Retail Bank 1.050% 04/27/15 36I57PCW7 04/27/12 235,000.00 100.262 235,615.70 1,237.13
Wachovia Sec 40,000.00 Huntington National Bank 0.750% 12/08/14 446438QL0 06/08/12 40,000.00 100.059 40,023.60
Wachovia Sec 40,000.00 Safra National Bank 0.800% 06/29/15 786580T83 07/28/12 40,000.00 100.448 40,179.20
Wachovia Sec 40,000.00 State Bank of India NY 1.250% 06/22/15 856284F74 06/22/12 40,000.00 100.461 40,184.40
TOTALS 835,000.00 1,080,000.00 1,083,823.40 2,008.70
Page 4
CITY OF AZUSA TREASURER'S REPORT
Prepared by: Art Vasquez, Treasurer
October 31,2014
Market Price
Coupon Maturity Settlement ** Market Interest Received Fiscal
Broker Face Amount Description Rate Date Acct/Cusip No. Date Principal (Changes Value*** Year to Date*
Monthly)
Light&Water Fund Investments - AAA Rated Federal Agency Bonds
BONDS CALLED OR MATURED DURING FISCAL YEAR 3,354.48
Gilford Sec 1,000,000.00 FFCB 0.730 03/13/17 0.730% 03/13/17 3I33ECHG2 03/13/13 1,000,000.00 99.835 998,350.00 3,650.00
WFB 1,000,000.00 FFCB 0.690 09/26/16 0.690% 09/26/16 3133EAZ76 09/26/12 1,000,000.00 99.893 998,930.00 3,450.00
WFB 1,000,000.00 FFCB 0.620 10/24/16 0.620% 10/24/16 3133EA5V6 10/24/12 1,000,000.00 99.473 994,730.00 3,100.00
Gilford Sec 1,000,000.00 FFCB 0.820 07/11/17 0.820% 07/11/17 3133EA4H8 10/12/12 999,000.00 99.719 997,190.00 4,100.00
Gilford Sec 1,000,000.00 FFCB 0.980 09/18/17 0.980% 09/18/17 3133EAX29 09/18/12 1,000,000.00 99.774 997,740.00 4,900.00
Gilford Sec/Steme Agi 1,000,000.00 FHLB 2.10 09/30/19 2.100% 09/30/19 3130A32T0 09/30/14 1,000,000.00 100.304 1,003,040.00
Gilford Sec 1,000,000.00 FHLB 1.000 02/27/18 1.000% 02/27/18 3133823D3 02/27/13 1,000,000.00 99.163 991,630.00 5,000.00
Higgins Capital 1,000,000.00 FHLB 0.900 06/20/18 0.900% 06/20/18 313383EM9 06/20/13 994,500.00 99.179 991,790.00
TOTALS 8,000,000.00 7,993,500.00 7,973,400.00 27,554.48
WFB-L&W THIRD PARTY CUSTODIAL TRUST ACCT 0.070% N/A N/A N/A 925,497.83 100.000 925,497.83 219.35
Market Price
CITY OF AZUSA and LIGHT-& WATER RATE STABLIZATION Principal** (Changes Mark*t* Interest Received Fiscal
Value Year to Date
Monthly)
TOTAL INVESTMENTS IN FEDERAL AGENCIES,CD's,WFB INSTITUTIONAL TRUSTS,and LAIF 56,726,701.13 56,651,256.08 121,408.71
*The Interest reflects earnings received from July 1,2013.
**The"Principal"column reflects the balance on the last day of the month or the"historical cost"spent to purchase a security.
***The"Market Value" is the current price at which a security can be traded or sold.
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