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HomeMy Public PortalAbout2011.052 (03-01-11) RESOLUTION NO. 2011.052 A JOINT RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD AND THE LYNWOOD REDEVELOPMENT AGENCY APPROVING A COOPERATION AGREEMENT AND MAKING CERTAIN DETERMINATIONS AND FINDINGS RELATED THERETO WHEREAS, the City Council ("City Council") of the City of Lynwood ("City") adopted Redevelopment Project Area A on July 10, 1973 by Ordinance No. 945 of the City Council, as said plan has been amended from time to time ("Project Area "A""), which results in the allocation of taxes from Project Area "A" to the Lynwood Redevelopment Agency (the "Agency") for purposes of redevelopment; and WHEREAS, the City Council of the City adopted the Alameda Redevelopment Project Area on November 3, 1975 by Ordinance No. 993 of the City Council, as said plan has been amended from time to time (the "Alameda Project Area" and, together with Project Area "A", the "Project Areas"), which results in the allocation of taxes from the Alameda Project Area to the Lynwood Redevelopment Agency (the "Agency") for purposes of redevelopment; and WHEREAS, the intent of the Redevelopment Plans are, in part, to provide for the construction and installation of necessary public infrastructure and facilities and to facilitate the repair, restoration and/or replacement of existing public facilities and to perform specific actions necessary to promote the redevelopment and the economic revitalization of the Project Areas; and to increase, improve and preserve the community's supply of low and moderate income housing, some of which may be located or implemented outside the Project Areas; and to take all other necessary actions to implement the Redevelopment Plans for the Project Areas and to expend tax increment to accomplish the goals and objectives of the respective redevelopment projects; and WHEREAS, the Agency has adopted its Five-Year Implementation Plan for the Project Areas, as amended from time to time (the "Implementation Plan") with established goals to support affordable housing, economic development, community revitalization, commercial revitalization, and institutional revitalization. To implement the programs and activities associated with each goal, the Agency has made redevelopment fund commitments based on estimated available tax increment revenue and debt financing structures; and WHEREAS, the Agency and the City wish to cooperate with one another to bring about the redevelopment of the Project Areas and accomplish various tasks set forth in the Redevelopment Plans and the Implementation Plan; and WHEREAS, pursuant to Section 33220 of the California Community Redevelopment Law (Health and Safety Code Section 33000 et seq.) (the "CRL") certain public bodies, including the City may aid and cooperate in the planning, undertaking, construction, or operation of redevelopment projects; and WHEREAS, the Agency and the City have prepared a Cooperation Agreement (the "Agreement") to provide for implementation of certain projects set forth in the "Schedule of Project's" attached thereto as Exhibit A(the "Projects"), and to make payments by the Agency to the City in accordance with the "Payment Schedule" attached thereto as Exhibit B and as otherwise necessary to reimburse the City for the cost to the City of performing its obligations thereunder in accordance with the "Schedule of PerFormance" attached thereto as Exhibit C, subject to all of the terms and conditions of the Agreement) all of such exhibits being incorporated herein by reference); and WHEREAS, the programs and activities associated with the Projects include, but are not limited to, acquisition and disposition of property, development of design criteria, design, planning, preparation of construction bid documents, financial analysis, financing and new construction or rehabilitation. To carry out the Projects in accordance with the objectives and purposes of the Redevelopment Plans for the Project Areas and the Implementation Plan, the Agency desires assistance and cooperation in the implementation and completion of the Projects. The City wishes to enter into the Agreement with the Agency to aid the Agency and cooperate with the Agency to expeditiously implement the Projects in accordance with the Redevelopment Plans for the Project Areas and the Implementation Plan and undertake and complete all actions necessary or appropriate to ensure that the objectives of the Redevelopment Plans for the Project Areas and the Implementation Plan are fulfilled within the time effectiveness of the Project Areas; and WHEREAS, in considering the Agency's desire to ensure timely implementation and completion of the Projects, the Agency wishes to enter into the Agreement with the City for the pledge of net available tax increment to finance the Projects. The purpose of the Agreement is to facilitate the implementation of the Projects and to provide funding necessary to effectuate the completion of the Projects with net available tax increment in this current fiscal year and forthcoming fiscal years; and WHEREAS, net available tax increment is defined as any tax increment, net of existing and future debt service payments (and contractual obligations related thereto), and existing contractua� obligations received by the Agency or any lawful successor of the Agency and/or to any of the powers and rights of the Agency pursuant to any applicable constitutional provision, statute or other provision of law now existing or adopted in the future. The pledge of net available tax increment will constitute obligations to make payments authorized and incurred pursuant to Sections 33445 and 33445.1 of the CRL and other applicable statutes. The obligations set forth in the Agreement will be contractual obligations that, if breached, will subject the Agency to damages and other liabilities or remedies; and WHEREAS, by approving and entering into the Agreement, the Agency will approve the pledge of net available tax increment from the Project Areas to pay for the Projects; and WHEREAS, the obligations of the Agency under the Agreement shall constitute an indebtedness of the Agency for the purpose of carrying out the Redevelopment Plans for the Project Areas; and WHEREAS, it is in the best interests of the City and for the common benefit of residents, employees, business tenants and property owners within the Project Areas and the City as a whole for the Projects to be developed and constructed; and WHEREAS, the Agency's low and moderate income housing fund for the Projects located outside of the Project Areas are in accordance with Section 33334.2 of the CRL because the use of such funds will be of benefit to the Project Areas; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD AND THE LYNWOOD REDEVELOPMENT AGENCY BOARD DO HEREBY RESOLVE AS FOLLOWS: Section 1. The Agency and City have received and heard all oral and written objections to the proposed payments by the Agency to the City for the Projects as described in the Agreement, and to other matters pertaining to this transaction, and all such oral and written objections are hereby overruled. Section 2. The Agency and City hereby find and determine that the foregoing recitals are true and correct. Section 3. Based on the evidence in the record, the Agency and City hereby find and determine, with respect to the Projects that are publicly owned and are located inside or contiguous to the respective project area as identified in Exhibit A attached to the Agreement, that: (a) Said Projects and the programs and activities associated therewith are of benefit to each of the respective Project Areas by helping to eliminate blight within the project area or providing housing for low- or moderate income persons; and (b) No other reasonable means of financing said Projects and the programs and activities associated therewith are available to the community; and (c) The payment of funds by the Agency for the costs related to said Projects and the programs and activities associated therewith is consistent with the Implementation Plan adopted pursuant to Section 33490 of the CRL. Section 4. Based on substantial evidence in the record, the Agency and City hereby find and determine, with respect to the Projects that are located outside and not contiguous to the respective project areas but is located within the community that: (a) Said Projects and the programs and activities associated therewith are of primary benefit to the project areas; (b) Said Projects and the programs and activities associated therewith benefits each of the project areas by helping to eliminate blight within the project area, or will directly assist in the provisions of housing for low- or moderate-income persons; (c) No other reasonable means of financing the Projects and the programs and activities associated therewith are available to the community in accordance with Section 33445.1(a)(3) of the CRL; (d) The payment of funds for said Projects and the programs and activities associated therewith is consistent with the Implementation Plan adopted pursuant to Section 33490 of the CRL; and (e) Said Projects and the programs and activities associated therewith are provided for in the respective Redevelopment Plans. Section 5. Based on the evidence in the record, the Agency and City hereby find and determine, with respect to the use of low- and moderate income funds for the Projects located outside of the Project Areas that such use will be of benefit to the Project Areas in accordance with Section 33334.2 of the CRL. Section 6. The Agency.hereby consents to the payments by Agency to City in accordance with the Schedule of Payments attached to the Agreement as Exhibit B. Section 7. The Agreement in substantially the form presented to the Agency and City is hereby approved, a copy of which is on file with the Secretary of the Agency. Section 8. The Agency Executive Director for the Agency and City Manager for the City are hereby authorized to execute the Agreement on behalf of the Agency and City, respectively, together with such non-substantive changes and amendments as may be approved by the Agency Executive Director and Agency Counsel and City Manager and City Attorney, respectively. Section 9. The Agency Executive Director for the Agency and City Manager for the City are hereby authorized, on behalf of the Agency and City, respectively, to sign all documents necessary and appropriate to carry out and implement the Agreement, and to administer the Agency's and City's respective obligations, responsibilities and duties to be performed under the Agreement. Section 10. The indebtedness of Agency under the Agreement shall be subordinate to the rights of the holder or holders of any existing and future bonds, loans and other instruments of indebtedness of the Agency incurred or issued by the Agency to finance the Project Areas and housing projects, including without limitation any pledge of tax increment revenues from the Project Areas to pay any portion of the principal and interest of any bonds, loans or indebtedness (including costs to comply with the covenants in the documents). The Agency's Executive Director and City's City Manager are hereby authorized to execute any subordination agreement for any future financing if requested to do so by the parties involved in such financing. Section 11. This Resolution shall take effect immediately upon its adoption. PASSED, APPROVED and ADOPTED, this 1 day of March, 2011. A � \ �/. � / �f _ Aide Castro, Mayor ATTEST: �� i aria Quinonez, City Clerk Roger L. e, ' Manager APPROVED AS TO FORM: APPROVED AS TO CONTENT: �� � � Fred Galante, City Attorney Robert S. z, Assistant City Manager STATE OF CALIFORNIA ) ) SS. COUNTY OF LOS ANGELES ) I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the foregoing Resolution was passed and adopted by the City Council of the City of Lynwood at a regular meeting held on the 1 day of March, 2011. AYES: COUNCIL MEMBERS FLORES, RODRIGUEZ, SANTILLAN, MORTON AND CASTRO NOES: NONE ABSENT: NONE ABSTAIN: NONE i ,--- Maria Quinonez, City Clerk STATE OF CALIFORNIA ) ) SS. COUNTY OF LOS ANGELES ) I, the undersigned City Clerk of the City of Lynwood, and the Clerk of the City Council of said City, do hereby certify that the above foregoing is a full, true and correct copy of Resolution No. 2011.052 on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 1 day of March, 2011. � � M ria Quinonez, Ci Clerk • EXHIBIT A SCHEDULE OF PROJECTS The types of facilities proposed to be financed are various capital improvements within and outside the Redevelopment Project Area `A" and the Alameda Project Area boundaries, including but not limited to major upgrades or construction (including design, engineering, permits, etc.) of curbs, gutters, sidewalks, drains, sewer lines, water lines, utilities, streets and alleys, traffic signals and street lights and related electrical systems, public parking (surface and/or multi-level), related landscaping, and highway off ramps feeding into the Redevelopment • Projects. Attached is a more specific list. In addition, the Agency and the City intend to cooperate in the implementation of housing projects in both the Alameda Project Area and Project Area A outside of those project areas if the projects are of benefit. 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