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HomeMy WebLinkAboutCC Reso No 2011-016 City Council ResoRESOLUTION NO. 2011-016 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE APPROVING THE EXECUTION AND DELIVERY OF REIMBURSEMENT AGREEMENTS (LAUNCH RAMP PROJECT; GENERAL INFRASTRUCTURE AND FACILITIES) WHEREAS, the Redevelopment Agency of the City of Lake Elsinore (the "Agency") is a redevelopment agency, a public body, corporate and politic duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the Community Redevelopment Law (Part 1 of Division 24 of the Health and Safety Code of the State of California and the acts amendatory and supplemental thereto and referred to herein as the "Law) and; WHEREAS, the Agency desires to provide funds to finance the cost of the acquisition, installation, construction and/or reimbursement of the cost of affordable housing and public infrastructure improvements within or outside of its redevelopment project areas (the "Project Areas"), including all public infrastructure improvements owned, acquired or constructed by the City of Lake Elsinore (the "City") and located in the City as generally described on Exhibit A attached hereto and made a part hereof (collectively, the "Project Improvements"); WHEREAS, the Agency has previously entered into a loan agreement with the Lake Elsinore Public Financing Authority (the "Authority") for $5,550,000 (the "Loan") for the purpose of constructing a six-lane boat launching ramp and the supporting public infrastructure (the "Launch Ramp Project") within the Agency's Project Area No. 1 ("Project Area No. 1"), which is component of the Project Areas, with such loan being payable by the Agency from the pledged tax revenues of Project Area No. 1; WHEREAS, the Agency desires to reimburse the City with proceeds of the Loan for the construction of the Launch Ramp Project; and WHEREAS, the City is authorized pursuant to Section 33220 of the California Health and Safety Code, to accept contracts, funds, and properties from the Agency for the purpose of aiding and co-operating in the planning, undertaking, construction, or operation of redevelopment projects located in the Redevelopment Project Areas within the City. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES FIND, DETERMINE AND RESOLVE AS FOLLOWS: Section 1. The above recitals are and each of them, are true and correct. Section 2. The City Council, pursuant to the Health and Safety Code Section 33445(a), finds and determines, based on the information made available in the staff report and other such written and oral evidence presented to the City Council, the following; 1. That the Agency's reimbursement of the cost of the Project Improvements described herein is of benefit to the Project Areas. City Council Resolution No. 2011-016 Page 2 of 5 2. That there are no other reasonable means of financing the cost of the Project Improvements. 3. That the Agency's reimbursement of the costs of the Project Improvements will assist in the elimination of physical and economic blighting conditions within the Project Areas and is in the vital and best interest of the City and its residents 4. The Agency reimbursement of the costs of the Project Improvements is consistent with the implementation plan adopted for the Project Areas pursuant to Health and Safety Code Section 33490. Section 3. The City Council hereby approves the form of Reimbursement Agreement substantially in the form presented to this meeting and on file of the City Clerk, with such revisions, amendments and completions as shall be approved by the City Manager, with the consent of the City Attorney, such approval to be conclusively evidenced by the execution and delivery thereof. Section 4. The City Council hereby approves the form of Launch Ramp Project Reimbursement Agreement substantially in the foram presented to this meeting and on file of the City Clerk, with such revisions, amendments and completions as shall be approved by the City Manager, with the consent of the City Attorney, such approval to be conclusively evidenced by the execution and delivery thereof. Section 5. Each officer of the City, including the City Attorney, is hereby authorized and directed, jointly and severally, to execute and delivery such documents and instruments and to do such things which may be necessary or proper to effectuate the purposes of the Resolution, and any such actions previously taken by such officers are hereby ratified, approved and confirmed. Section 6. The City Clerk shall certify to the adoption of this Resolution, and thenceforth and thereafter the same shall be in full force and effect. 2 City Council Resolution No. 2011-016 Page 3 of 5 PASSED, APPROVED AND ADOPTED at a special meeting of the City Council of the City of Lake Elsinore, California, this 10th day of March, 2011. Amy Bhutta,,Mayor City of Lake Elsinore A' City of Lake APPROVED AS TO FORM: J Bafbara Leibold, City Attorney City of Lake Elsinore EXHIBIT "A" PROJECT SUMMARY *Including all costs incurred by the Agency including but not limited to planning, acquisition and disposition, financing, development, legal costs associated with all applicable projects, permitting, design, site testing, bidding, construction and construction management including litigation costs and property assessments resulting therefrom ESTIMATED COSTS* Costs incurred by the Agency in furtherance of (i) its affordable housing goals and (ii) improvements to public infrastructure, including, but not limited to, $50,000,000 construction of streets, roads, bridges, sewers, water supply and distribution, fire, public works or any other publicly owned facilities, park development, street widening, flood control, and any other public infrastructure determined to be required for the efficient delivery of service to the public. City Council Resolution No. 2011-016 Page 5 of `5 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF LAKE ELSINORE ) 1, Virginia J. Bloom, City Clerk of the City of Lake Elsinore, California, hereby certify that Resolution No. 2011-016 was adopted by the City Council of the City of Lake Elsinore at a special meeting held on the 10th day of March 2011, and that the same was adopted by the following vote: AYES: Council Members: Hickman, Melendez, Tisdale, Mayor Pro Tern Magee and Mayor Bhutta NOES: None ABSENT: None ABSTAIN: None om Uq~~ VirV City 5