HomeMy WebLinkAboutRedevelopment Agency - 312 RESOLUTION NO. 312
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF HUNTINGTON BEACH AMENDING THE
AGENCY DEBT PURSUANT TO THE OPERATIVE AGREEMENT
BETWEEN THE CITY OF HUNTINGTON BEACH AND
THE REDEVELOPMENT AGENCY OF
THE CITY OF HUNTINGTON BEACH
FOR THE HUNTINGTON BEACH REDEVELOPMENT PROJECT
WHEREAS, the City Council of the City of Huntington Beach (the "City Council")
adopted Ordinance Nos. 2576, 2577, 2578, 2582, and 2743 approving and adopting the
Redevelopment Plan for the Yorktown-Lake Redevelopment Project, the Redevelopment Plan
for the Talbert-Beach Redevelopment Project, the Redevelopment Plan for the Main-Pier
Redevelopment Project, the Redevelopment Plan for the Oakview Redevelopment Project, and
the Redevelopment Plan for the Huntington Center Commercial District Redevelopment Project,
respectively; and
The Redevelopment Agency of the City of Huntington Beach (the "Agency") and the
City of Huntington Beach (the "City") entered into a Cooperative Agreement, dated June 20
1983, by which the City agreed to provide to the Agency certain assistance and to otherwise
cooperate with the Agency in carrying out redevelopment projects; and
Pursuant to the Cooperative Agreement, the Agency and City Council entered into
Operative Agreements for the Yorktown-Lake, Talbert-Beach, Main-Pier, Oakview and
Huntington Center Redevelopment Projects (the "Constituent Projects"), by which the City
provided the Agency with both administrative and/or technical services, constructed required
public improvements and facilities as appropriate and necessary, and provided funds to carry out
the Constituent Projects; and
Said Operative Agreements also identified the terms under which the Agency would
reimburse the City for the associated costs of such services, improvements, facilities and funds;
and
The City Council adopted Ordinance No. 3343 on December 16, 1996 amending and
merging the Constituent Projects into the Redevelopment Plan for the Huntington Beach
Redevelopment Project (the "Huntington Beach Redevelopment Project"); and
It is now necessary and appropriate that the City Council and the Agency amend the
Operative Agreement pursuant to the Cooperative Agreement, which will supersede the
Operative Agreements for the Constituents Projects to reflect the Operative Agreement debt as of
September 30, 2000.
NOW, THEREFORE, the Redevelopment Agency of the City of Huntington Beach does
resolve as follows:
i
4/s:4-2000 Resolution:Agency Debt
RLS 2000-779
8/17/00
Res—No. 312
SECTION 1. That the Operative Agreement between the Redevelopment Agency and
the City of Huntington Beach for the implementation of the Huntington Beech Redevelopment
Project, is still in effect as previously approved.
SECTION 2. That pursuant to such Operative Agreement, the Agency debt to the.City,
which is to continue to be carried forward for the Huntington Beach Redevelopment Project, is
hereby amended as follows:
Pre AB 1290 Post AB 1290 Total
Debt Debt
Operative Agreement Debt 10/1/99 $86,701,066 $3,082,048 $89,783,114
Accrued Interest 10/1/99 to 6/30/00 3,817,045 103,184 3,920,229
Accrued Interest 7/1/00 to 9/30/00 1,272,348 34,395 1,306,743
Reductions of Debt 0 (710,000) (710,000)
Operative Agreement Debt at 9/30/00 $91,790,459 $2,509,627 $94,300,086
SECTION 3. The Chairperson is hereby authorized and directed to amend the Agency
debt to the City as approved hereby.
PASSED AND ADOPTED by the Redevelopment Agency of the City of Huntington
Beach at a regular meeting thereof held on the 18th of September , 2000.
�Xr
f Chairperson
ATTEST: APPROVED AS TO FORM:
Agency Clerk ,�---Agency General Counsel
REVIEWED AND APPROVED: INITIATED AND APPROVED:
t Exe�Director rector of Administrative Services
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4/s:4-2000 Resolution:Agency Debt
RLS 2000-779
8/17/00
Res. No. 312 _
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF HUNTINGTON BEACH, )
I, CONNIE BROCKWAY, Clerk of the Redevelopment
Agency of the City of Huntington Beach, California, DO HEREBY
CERTIFY that the foregoing resolution was duly adopted by the
Redevelopment Agency of the City of Huntington Beach at a regular
meeting of said Redevelopment Agency held on the 18th day of
September, 2000 and that it was so adopted by the following vote:
AYES: Julien, Sullivan, Harman, Garofalo, Green, Dettloff, Bauer
NOES: None
ABSENT: None
ABSTAIN: None
Clerk of the Redevelopment Agency
of the City of Huntington Beach, CA