HomeMy WebLinkAboutCity Council - 6557 RESOLUTION NO. 6557
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF HUNTINGTON BEACH APPROVING AND
AUTHORIZING EXECUTION AND DELIVERY OF
FINANCING AGREEMENT WITH RESPECT TO CIVIC CENTER
IMPROVEMENTS BETWEEN THE CITY AND THE
REDEVELOPMENT AGENCY OF THE CITY OF
HUNTINGTON BEACH, AND MAKING FINDINGS
WITH RESPECT THERETO
WHEREAS, the City of Huntington Beach (the "City") is considering undertaking
certain improvements to the existing civic center of the City, including but not limited to
additional office space, additional meeting space, expanded police facilities and parking
facilities (the "Civic Center Improvements"); and
The existing civic center of the City is owned by the City of Huntington Beach
Civic Improvements Corporation (the "Corporation") and is leased by the Corporation to
the City, and it is the intention of the City and the Agency that the financing of the Civic
Center Improvements will be accomplished through a lease-purchase financing vehicle
whereby the City agrees to make periodic lease payments from the General Fund of the
City which support payment of debt service on the obligations which are issued to
finance the Civic Center Improvements; and
The Redevelopment Agency of the City of Huntington Beach (the "Agency")
currently administers a redevelopment project in the City of Huntington Beach known as
the Yorktown-Lake Redevelopment Project Area (the 'Redevelopment Project"), and the
Agency is permitted under the laws of the State of California and under the
redevelopment plan for the Redevelopment Project to apply the tax increment revenues
from the Redevelopment Project to reimburse the City for the lease payments relating to
the Civic Center Improvements; and
The City and the Agency have proposed to enter into that certain Financing
Agreement with Respect to Civic Center Improvements (the "Financing Agreement") for
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the purpose of formally obligating the City to proceed with the development and
financing plan for the Civic Center Improvements and obligating the Agency to apply tax
increment revenues from the Redevelopment Project for the purpose of reimbursing the
City for its lease payments relating thereto; and
The City Council has conducted a public hearing, at which all interested persons
were given an opportunity to be heard, on the Financing Agreement and the financial
obligations of the Agency thereunder, in accordance with Section 33679 of the Health
and Safety_Code of the State of California;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Huntington Beach as follows:
Section 1. Findings and Determinations.
The City Council hereby finds and determines, in accordance with Section 33446
of the Health and Safety Code of the State of California, that (a) the buildings, facilities,
structures and other improvements which constitute and which will constitute the Civic
Center Improvements are of benefit to the Redevelopment Project, and (b) there are no
reasonable means available to the City of financing such buildings, facilities, structures
and other improvements, other than from the tax increment revenues derived from the
Redevelopment Project in accordance with the Financing Agreement. The City Council
further finds and determines that the acquisition and construction of each item of the
Civic Center Improvements are provided for in the Redevelopment Plan.
Section 2. Approval of Financing Agreement.
The City Council hereby approves the Financing Agreement in substantially the
form on file with the City Clerk together with any immaterial changes therein or additions
thereto deemed advisable by the City Administrator and approved by the City Attorney.
The City Council hereby authorizes and directs the Mayor and the City Administrator to
execute, and the City Clerk to attest and affix the seal of the City to, said form of the
Financing Agreement for and in the name of the City.
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Section 3. Effective Date.
This Resolution shall take effect from and after the date of its passage and
adoption.
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at
a regular meeting thereof held on the 20th day of December, 1993.
Mayor
ATTEST: APPROVED AS TO FORM:
&Occ�
City Clerk City Attorney LE
REVIEWED AND APPROVED: INITIATED AND APPROVED:
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y Adminis t r Deputy City Administrator/
Director of Economic Development
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Res. No. 6557
STATE OF CALIFORNIA
COUNTY OF ORANGE ss:
CITY OF HUNTINGTON BEACH )
I, CONNIE BROCKWAY, the duly elected, qualified City
Clerk of the City of Huntington Beach, and ex-officio Clerk of the
City Council of said City, do hereby certify that the whole number of
members of the City Council of the City of Huntington Beach is seven;
that the foregoing resolution was passed and adopted by the affirmative
vote of at least a majority of all the members of said City Council
at a regular meeting thereof held on the 20th day
of December 1g 93 , by the following vote:
AYES: Councilmembers:
Silva, Bauer, Robitaille, Moulton-Patterson. Winch-. iPiRZig, Sullivan
NOES: Councilmembers:
None
ABSENT: Councilmembers:
None
City Cler and ex-officio ef*
of the City Council of the' City
of Huntington Beach, California