HomeMy WebLinkAboutRedevelopment Agency - 248 RESOLUTION NO. 1248
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF HUNTINGTON BEACH APPROVING AND
AUTHORIZING EXECUTION AND DELIVERY OF
FINANCING AGREEMENT WITH RESPECT TO CIVIC CENTER
IMPROVEMENTS BETWEEN THE AGENCY AND 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
4
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
the purpose of formally obligating the City to proceed with the development and
1
7/cirycck/12/10/93
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 Redevelopment Agency of the
City of Huntington Beach as follows:
Section 1. Findings and Determinations.
The Agency hereby finds and determines, in accordance with Section 33445 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 Agency
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 Agency hereby approves the Financing Agreement in substantially the form
on file with the Secretary of the Agency together with any immaterial changes therein or
additions thereto deemed advisable by the Executive Director and approved by the
Agency Attorney. The Agency hereby authorizes and directs the Chairman and the
Executive Director to execute, and the Secretary of the Agency to attest and affix the
seal of the Agency to, said form of the Financing Agreement for and in the name of the
Agency.
2
7/citycck/12/10/93 248
Section 3. Effective Date.
This Resolution shall take effect from and after the date of its passage and
adoption.
PASSED AND ADOPTED by the Redevelopment Agency of the City of
Huntington Beach at a regular meeting thereof held on the 20th day of December, 1993.
Chairman
ATTEST: APPROVED AS TO FORM:
Agency Secretary Ageycy Attorney �2�`(✓
REVIEWED AND APPROVED: INITIATED AND APPROVED:
xecutive Dir cto6K Director of Economic Development
3
7/cirycck/12/10/93
248
Res. No. 248
STATE OF CALIFORNIA )
COUNTY OF ORAL )
CITY OF HUNTINGTON BEACH)
I, CONNIE BROMW, Clerk of the Redevelopment Agency of the
City of Huntington Beach, California, DO ICY CERTIFY that the foregoing
resolution was duly adopted by the Redevelopment Agency of the City of
Huntington Beach at a meeting of said Redevelopment Agency held an the
20th day of December , 19 93, and that it was so adopted
by the following vote:
AYES: Members:
Silva, Bauer, Robitaille, Moulton-Patterson, Winchell , Leipzig, Sullivan
NOES: Members:
None
ABSENT: Members:
None
Clerk of the Redevelopnmi of
the City of Huntin3,-c i Beaczi, Ca.
248