Loading...
HomeMy WebLinkAbout01B. CC DDA Resolution VerizonAPPROVED BY CITY MANAGER TO: Mayor and Members of the City Council RECOMMENDATION That the City Council approve the following resolution: BACKGROUND /DISCUSSION FISCAL IMPACT ATTACHMENT A: 33433 RESOLUTION 1I AGENDA MEMO CITY OF DOWNEY, CALIFORNIA )ATE: November 9, 2010 FROM: Office of the City Manager By: Brian Saeki, Director of Community Develoment SUBJECT: CONSIDERATION OF A DISPOSITION AND rVELOPMENT AGREEMENT AND ADOPTION OF A 33433 RE-SOLUTION FOR THE VIEW HOUSING PROJECT LOCATED AT 8314 2 TREET IN DOWNTOWN DOWNEY A RESOLUTION OF THE CITY COUNCIL OF THE C OF DOWNEY APPROVING A DISPOSITION AND DEVELOPMEN GREEMENT BETWEEN THE DOWNEY COMMUNITY DEVELOP ENT COMMISSION AND NATIONAL COMMUNITY RENA� SSANCE OF CALIFORNIA AND APPROVING THE CONVEYANCE- OF CERTAIN REAL PROPERTY (ASSESSOR'S PARCEL NO. 6254- 020 -914) AND MAKING CERTAIN FINDINGS REQUIRED BY LAW This is a companion item to an agenda item on the Downey ommunity Development Commission ( "CDC ") agenda. Rather than duplicating the C agenda memo and attachments, please refer to the staff report for the CDC item. This item will have no impact on the City of Downey general find. A RESOLUTION OF THE CITY COUNCIL OF THE APPROVING A DISPOSITION AND DEVELOPM BE EEN THE DOWNEY COMMUNITY DEVELOPMEN NATIONAL COMMUNITY RENAISSANCE OF APPROVING THE CONVEYANCE OF CERTAIN (ASSESSOR'S PARCEL NO. 6254-020-914) AND FINDINGS REQUIRED BY LAW RESOLUTION NO. WHEREAS, pursuant to the provisions of the California C (California Health and Safety Code Section 33000 et seq.) (" Council") of the City of Downey ("City") approved and adopted th Firestone Redevelopment Project Area ("Redevelopment Plan"), geographic area within the City ("Project Area"); and WHEREAS, the Community Development Commissi of the City of Downey ("Commission") is engaged in activities necessary to e -cute and implement the Redevelopment Plan; and WHEREAS, the Commission owns a parcel of real propert within the Project Area, consisting of approximately .39 acres o street address of 8314 2nd Street, and identified as Assessor ("Commission Property"); and WHEREAS, the Commission and National Communit Renaissance of California ("Developer") have negotiated the terms of an agreement entitled D isposition and Development Agreement ("Agreement") providing for, among other things, the ansfer by the Commission of the Commission Property to Developer and Developer's redevjopment of the Commission Property as forty-nine (49) affordable residential rental units and op (1) manager's unit in a six- story building with subterranean parking ("Project"); and WHEREAS, the Commission has determined that implem is in the best interests of the City and the Commission and the he City's taxpayers and residents and is in accordance with the pu Redevelopment Plan and CRL; (2) strengthens the City's land use will assist in eliminating physical blight in the City; and WHEREAS, the Developer's construction and operation o • • ITY OF DOWNEY NT AGREEMENT COMMISSION AND ALIFORNIA AND REAL PROPERTY AKING CERTAIN munity Redevelopment Law L"), the City Council ("City Redevelopment Plan for the ich is applicable to a certain within the City that is located 16,919 square feet with the arcel Number 6254-020-914 ntation of the Agreement: (1) Ith, safety and welfare of the lic purposes set forth in the and social structure; and (3) WHEREAS, the Commission desires to assist in the d elopment of the Project by providing financial assistance in the form of a subordinate financig loan in the amount not to exceed Four Million Four Hundred Fifty Thousand Dollars ($4,450 00), consisting of the agreed upon value of the Property in the amount of One Million Dollars ( ,000,000) plus Three Million Four Hundred Fifty Thousand Dollars ($3,450,000) cash, for ce.ain property acquisition and development expenses associated with the Project ("Commission loan"); and '- WHEREAS, the Commission's participation in the Project% limited to: (1) carrying out routine government functions; (2) performing conventional ac ivities of a lender; and (3) imposing statutorily authorized conditions of assistance accepted Ijy the Developer; and he Project are not financially feasible without the Commission's assistance. In order to assist in ihe construction of the RESOLUTION NO' PAGE 0 development on the Commission Property, Commission desires for: (1) the transfer of the Commission Property to Developer; ( Commission to C>eva|Vper, from the Commission's property tax i for Jow and moderate income housing; and (3) a restrictive coven five (55) years providing that at least twenty-five (25) of the hou Qualified Househotds at an Affordable Rent, as further defined in t the Commission Loan provided pursuant to this Agreement does Commission's assistance necessary to make the Developer's a y the Agreement to provide the Commission Loan from crement allocation set aside t to run with the lard for fifty- ng units shall be available to e Agreement. The amount of l ot exceed the amount of the � uioibon of the Property and the construction and operation of the Project, as restricted bw the Agreement, financially feasible; and WHEREAS, the Commission intends to apply the hosing units to be developed pursuant to this Agreement towards satisfaction of the statutorily andated affordable housing production requirements for the Project Area under CRL Section 3 413 (b)(2); and WHEREAS, pursuant to CRL Section 33433 the City Co Commission's legislative body) rnust, following a public hearin determinations in connection with Commission's sale of the C acquired with Commission tax increment revenue; and cil of the City (acting as the , make certain findings and mmission Property that was WHEREAS, pursuant to CRL Section 33433, the Comm i has red and the City Council has reviewed and considered, a Real Property isposition Summary Report ("Summary Report") setting forth: (1) the cost of the Agreeme to the Commission; (2) the estimated value of the interest in the Commission Property to be conveyed, both at its highest and best use and with the covenants, conditions and requirerrw ts of the Agreement; (3) an explanation of how the conveyance of the Commission Property assist in the elimination of blight within the Project Area and provision of workforce housing "■r lower income persons; and (4) a copy of the Agreement. The Commission has made the ummary Report available for public inspection in accordance with CRL Section 33433; and WHEREAS, pursuant to the California Environmental Qualy Act, Public Resources Code Sections 21000 et seq. ("CEQA"), and the State's CEQA Guidelin (Title14 California Code of Regulations Sections 15000, et. seq.), the City is the lead Agency oncerning the Project and has filed a Notice of Exemption for the Project because it is categorica exempt from CEQA, pursuant to CEQA Guidelines Section 15194, Affordable Housing xemption; and WHEREAS, pursuant to Government Code Section 65402 the City has determined that the location, purpose, extent and development of the Project on t Commission Property are in conformance with the City's General Plan; and iU WHEREAS, pursuant to CRL Sections 33431 and 33433 21 and 28, 2010 the Commission caused notice of the a joint public hearing bf the City Council and the Commission's Governing Board to be published in a newspaper o general circulation within the City; and VVHEREAS, pursuant to CRL Sections 33431 and 33433, n November 9, 2010 the City Council and the Commission's Governing Board held a duly noticed joint public hearing regarding the proposed Agreement; and RESOLUTION NO. PAGE THREE VVHERE/\S, all other legal prerequisites to the adop occurred. THE MAYOR AND CITY COUNCIL OF THE CITY OF D AS FOLLOWS: Section 1. The recitals of facts set forth above are true and co ct and are incorporated into this Resolution by this reference. Section 2. ATTEST: The City Council finds and dotemnineS, based on t in the Summary Rmport, the staff report oCComp@ presentation of staff, and the other written and o City Council at or prior to the public hearing re pursuant to CRL Section 33433: (i) The conveyance of the Commission Prop Developer will assist in the elimination o structure on the Commission Property a housing for lower income persons; and disposition (ii) The disposition of the Commission Pro rty is consistent with the Implementation Plan adopted by the ComQs3ion for the Project Area; and (iii) The consideration to the Commission for tt transfer the � Commission Property to the Developer is not less th@,,: the fair reuse value of the Commission Property with the covenants,r--;onditions and development costs authorized by the sale. KATHLEEN L. MIDSTOKKE, City Clerk mo v Section 5. This ReSo|uUonShgUtake effect innnnedi@S8|yupon ��adoudon. APPROVED AND ADOPTED this day of , 2010. ANNE K�.BA}�F�Mayor n of this Resolution have information made available ng this Resolution, the oral | evidence presented to the � rding the Agreement, that, by the Commission to the blight by removing the old providing affordable rental Section 3. There have been no changes in the Project followig the City's filing a Notice of Exemption that would require any additional enviro&ental review under CEQA. Section 4. The City Council approves of the Commission e'=hng into the Agreement in substantially the form presented to the City Council*d attached to the Summary Report, with such changes and amendments as r y be approved by both the Commission Executive Director and Commission unsel. Specifically, the City Council approves of the Commission selling the ommission Property to the Developer pursuant to the terms and conditions of Agreement. RESOLUTION NO. PAGE FOUR I HEREBY CERTIFY that the foregoing Resolution was ad zpted by the City Council of the City of Downey at a regular meeting held on the day of , 2010, by the following vote, to wit: AYES: Council Members: NOES: Council Member: ABSENT: Council Member: ABSTAIN: Council Member: KATHLEEN L MIDSTOKKE, City Clerk