HomeMy WebLinkAboutRobert L Mayer - 1988-09-19 1
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RE Q �"�_ST FOR CITY COIJ•�; : IL/ �-�
� I�CC�EU t�C�P�IfEt�T AGENCY �►� 6C�►N RH ss--63
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S,4Ftember 19, 1988
Bata
Submitted to: Honorable Mayor/Chairman and City Councili Rede lelopment A envy Members
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Submitted by: Pau. Cook, City Administrator/Executive Directorj:.�'- • �`� 0
DQ►igles LaBelle. Deputy City Administrator xonomic Developmen
CITY/AGtKCY REIlOURSEMEN:C.AGREEM :-NT FOR PUBLIC W. Ti
..MEN
Subiwv
COSTS -•WATERFRONT PROJECT
ouncil Polley? 0 Yea C I ] Now Policy or EX(roptloa am.Cansistcxrt with � ,
Statenerit of 'asue, Rarommarxiaiion,A►nslysiv, Fund!ng Source, AlternrJve Actions,
• A,PPY�.OVED I3Y C1T
. • '.�, STAIMUT
. �, n Agreement for she Agency s .i ei m urs •-ctTr cL�r��c' '` , _
The Reimburseme t g g y' • e_ t -oe s•itrCGried b he
Lity under they Fox Hills Trailer Park Agreement is necessary to fulfill tha Agency's
obligations,s-under the DDA that was approved with Robert L. Mayer on A.iigust 15, i 988.
OMWND
Adopt Ctty Council Resolu2lor.J-521A'and Agency'Resolution with respect to
ihe'.ReimbOrsement Agreement for public improvement costs between the City and the
Agency.
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:1 The:City'has entered lhtol;an'•agrr_-6r 3t r�►itii FoxHlIN T:�a;Ter`Y: rk to acquire property
and relacatr,tenants and make improver lints that are neces.4s�ry to itnprowe the'Walnut
treex trans,ortatiort corridor to the pr po�etj Waterfront;project. Under l::ealtti'ind
r Safety Code Section 33445',,and+in 66r j ct an'with"'the terms of the %1iterfrant7 DDA, the
;Agency me.,�regree to reimburse the'City�i'6 the',cost bf those'ipublic to provenlents that
the city, haa;obagated ithelf in the-a reemen;:with.ttie Fox Dills-Trailer:Park as those
improvements will benetiit;,the,project area end are necessary to fulfill the terms of the
DDA'and as there are no nthE r reasnnab�.e iteans cf financing ±he street'imp�llove_ments
iha# are available to the community.
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RCE:
'fht f i source for amen
uric 1 t of the-land!from the Age;icy to tlye`City will be provided
rr . ' ., pry ,
1.�`.,fcotu tax increment mon1es generated by i e project area.In
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` j ) I e lutio i; ,of the'Agency aut rizirig execution'of an agreement for l
netmbttrsem t �f'publir; irr,provement casts.
t'1 2)• Rediolutiosi ' of tre City Council'ri�.ithorizifg the execution' f,-,gin agreement,Por
reimbursement of public'imprcr ement cats.
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Ah AviiM' k for the re"Imbursemehfof public improvement coati._:
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,. AGREEMENT FOR RRXMBURSEMENT OF PUBLIC
IMPROVEMENT COSTS BETWEEN THE CITY OF
HUNTINGTON BEACH ' AND THE REDEVELOPMENT
„ AGENCY ON THE CITY OF HUNTINPTON BEACH
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THIS AGREEMENT, dated as of September 6 , 1986, by and between
' the Rededel.opment . Agency of th.: City of Huntington Beach, a public
body corporate and poli.�tic, �organizsd and existing and by virtue
wf,Tt he- laws bt the state of California ( the "Agency'% and the
City 'of Huntington Beach, a municipal_ corporation, organized and
ex'ia-frog -und3r and by, virtue of the laws of the i4tate,, of
California ( the "City" ) ?
WHERI;AS, he City has ertered `into an agreement with: the
Foxh'ills' Trailer. Park dated August .1'5, 1988 -wherein, the City has
s Agreed to certain acquiition , impruvenitn� " t. and relocaton costs -
pursuant" to' the `proposed improvements 'and wiuen ng of the Walnut
S t.
r b e t't and
acgUisiti'on,,� j .Apr'ovements .and rElocitIc,n of the l al it
~ tr.eet rigtit--of w� y �wi1:1 fstcilita�te recevelopme �,,with'in the
�r,,t. oring r,'•_ accesa' de,
ajacenio ect tMain Piar p area '
Oi proposed.,,develo6ment , in the .Main-Pier prcjeck area ,.pursuant
_o :that .certain ..,i sposition and Development.-, Agreer,ient, caked
�ugu'st 151, 11988F between the Agency and Robe..t L. Mayer , as.,'
trustee 'of the Robert L . Mayer Trust of 1582, dated Jufie 220,`. 1982
as imendiid ( the "DDA" ) = a_ ndtk
to Health ,:and Safety Code section 33445 and in "'
t• It y rid I'r St ;
'canjundtlon, with the terms of the; DDA, the Agency sh'al'i:,'ay for
ths ' Pio �eec pub.tic imProvementa to �alnut Street which wi11
if 4er�e�'Yt . the .pco�ect area and are 'necessary to $ffect 'the' DrA as no
other reason+ibl.a means, .�,f financing such improvements are
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P�. '• �. ' it . '1, i . � i , � �•, 1.,.
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available to the CommuHity .
NOW, THEREFOKE , in consideration of the foregoing ''recitals and
the mutual covenants here and after contained, the partien hereby
agree as follows :
SECTION 1 . REIMBURSEMENT OF THu - PUBLIC IMPROVEMENT
OBLIGATION . '' The r r Agency agrees �.,o eimbt�rse .irhe City for tYiose
acquisition, irnproveml,int and'"relocation costs which are the
obligation -of the City ender that.. :;ertai'n agreement dated
September 61 2988 by and between the City of Huntington Beach and'
Foxhills Trailer Park ( the "F•eia.bursement Obligation" )'.
SECTIOW.'12 . PAYMENT OF" REIMBURSEMENT::7BL
, � ' � � tGAT,TON . .The City'. ,
•,'. . `.. .' ' agrees and acknowl d ges ihat •payment 'of the reimbursement , •
�cbligation hereunder shall be made only from tax allocation,
revenues received by the Agency pursuant to Section 33670 of . the;.
Health -Ind; Safety, Cude' ( the "Tax Increment" ) . All such payments
{ , shall be .due wi�thiii; tlhe 1988 calendar year provided that the City
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Shall ext'=.nd htie 4�;S.r�ie for pa}�inent in th' event that , 'rhe Agency'
does act halve safficir'ri�: , tax �En�remejzt to meet � all of thy. Agency s
other financi'a.l .obligations, whether incurred prior or subsequent
to. the, approval of thin Agreement.
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The o bligation' of the . Agency shall bear interest 'unt;1 pard '�-in
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full pit the' ,rate of ken pQrce'rit (ld% ) per annum.
This 'A.. reem#nt •Consti't ,, an indebteidnesv,* of the Agency
fncurrad �n . cnrryng out the 'project .end a pledging of the tax
allucatii'ons1 frhm the.•pxoject, to repay ,such `indebtedne+s$ uaaer the
provisionei of Sect.i.on 19 .of i:ticle of Calfforn` Constitution
arsd sectiana '33670' through 33677 � of the Health and Safety, Code',
rt , IV
,provi.detd: however, that such ' pledge of tax allocation shall 'always r,=
5.
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J be subordinate and oubJect to the right of the Agency to pledge or
commit tax allocations from the project to repay bonds or other
indebtednans incurred by the Agencv in carrying out the project .
IN WITNESS WHEREOF; the parties hereto have caused this
Agreement to be executed by . their, respective officera thereunto
duly authorised, all ae of the date first; above written .
THE CITY UNG N BEACH 'The REDEVELOPMENT AGENCY OF THE
►;; ;r, CITY OF HUNTINGTON BEACH,•.- a
municipal cor oration of, the
. Mayor State of Ca rn
Cha rman
Attest. I
Clerk
ATTEST• �., APPROVED AS TO FORM;
C1 ty k Agency Attorney
R ' F N C) L) �, I t T'I ED AND AP ED•.
',. C ty m sera .or De ty C ty'�Adm n. strator
t••
Director,, Community Development
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Ir S tr/ M.
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