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HomeMy WebLinkAbout11/25/2008 Correspondence 4 of 4 AMENDED AND RESTATED REDEVELOPMENT PLAN FOR THE RANCHO LAGUNA REDEVELOPMENT PROJECT AREA NO. 111 Draft November 24, 2008 Adopted on , 2009 by Ordinance No. TABLE OF CONTENTS 1, [ §100] INTRODUCTION 1 A. [ §101] PROJECT HISTORY 1 B. [ §102] GENERAL 2 C. [ §103] PURPOSES AND OBJECTIVES 2 II. [ §200] DESCRIPTION OF PROJECT AREA 3 111. [ §300] PROPOSED REDEVELOPMENT ACTIONS 4 A. [§301] GENERAL 4 B. [ §302] PARTICIPATION OPPORTUNITIES; EXTENSION OF PREFERENCES FOR REENTRY WITHIN REDEVELOPED PROJECT AREA 5 1. [ §303] Opportunities for Owners and Business Occupants 5 2. ( §304] Rules for Participation Opportunities, Priorities, and Preferences 5 3. ( §305J Participation Agreements 5 4. ( §306] Conforming Owners 6 5. ( §307] Implementing Rules 6 C. [ §308] COOPERATION WITH PUBLIC BODIES 6 D. [ §309] PROPERTY ACQUISITION 7 1. ( §310] Real Property 7 2. [ §311] Personal Property 7 E. [ §312] PROPERTY MANAGEMENT 8 F. [ §313] PAYMENTS TO TAXING AGENCIES 8 G. [ §314] RELOCATION OF PERSONS, BUSINESS CONCERNS, AND OTHERS DISPLACED BY THE PROJECT 8 1. [ §315] Relocation Housing Requirements 8 2. [ §316] Replacement Housing Plan 8 3. [ §317] Assistance in Finding Other Locations 9 4. [ §318] Relocation Payments 9 H. [ §319] DEMOLITION, CLEARANCE, AND BUILDING AND SITE PREPARATION 10 1. [ §320] Demolition and Clearance 10 2. ( §321] Preparation of Building Sites 10 L [ §322] PROPERTY DISPOSITION AND DEVELOPMENT 10 1. ( §323] Real Property Disposition and Development 10 a. [ §324] General 10 b. [ §325] Disposition and Development Documents 11 c. [ §326] Development by the Agency 11 d. [ §327] Development Plans 12 2. [ §328] Personal Property Disposition 12 J. [ §329] REHABILITATION, CONSERVATION, AND MOVING OF STRUCTURES 12 1. [ §330] Rehabilitation and Conservation 12 2. ( §331] Moving of Structures 12 Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page i PA0808005.LE:PA:gbd 15190.005.004/11/24/08 K. [ §332] LOW AND MODERATE INCOME HOUSING 13 1. [ §333] Authority Generally 13 2. [ §334] Replacement Housing 13 3. [ §335] Increase, Improve and Preserve the Supply 13 4. [ §336] New or Rehabilitated Dwelling Units Developed within the Project Area 14 5. [ §337] Duration of Dwelling Unit Affordability and Agency Monitoring 15 L. [ §338] IMPLEMENTATION PLANS 16 IV. [ §400] USES PERMITTED IN THE PROJECT AREA 16 A. [§401] PERMITTED LAND USES 16 B. [ §402] OTHER LAND USES 17 1. [ §403] Public Rights -of -Way 17 2. [ §404] Other Public, Semi - Public, Institutional, and Non - profit Uses 17 3. [ §405] Interim Uses 18 4. [ §406] Non - conforming Uses 18 C. [ §407] GENERAL CONTROLS AND LIMITATIONS 18 1. [ §408] Construction 18 2. [ §409] Rehabilitation and Retention of Properties 18 3. [ §410) Limitation on the Number of Buildings 19 4. [ §411] Number of Dwelling Units 1 9 5. [ §412] Limitation on Type, Size, and Height of Buildings 19 6. [ §413) Open Spaces, Landscaping, Light, Air, and Privacy 19 7. [ §414] Signs 19 8. [ §415] Utilities 19 9. [ §416] Incompatible Uses 19 10. [ §417] Non - discrimination and Non - segregation 20 11. [ §418) Minor Variations 20 D. [ §419] DESIGN FOR DEVELOPMENT 20 E. [ §420] BUILDING PERMITS 21 V. [§500] METHODS OF FINANCING THE PROJECT 21 A. [ §501] GENERAL DESCRIPTION OF THE PROPOSED FINANCING METHOD 21 B. [ §502] TAX INCREMENT FUNDS 22 C. [§503] BONDS, ADVANCES AND INDEBTEDNESS 23 D. [ §504] TIME LIMIT ON ESTABLISHMENT OF INDEBTEDNESS 24 E. [§505] TIME LIMIT ON RECEIPT OF TAX INCREMENT 24 F. [ §506] OTHER LOANS AND GRANTS 24 VI. [ §600] ACTIONS BY THE CITY 24 VII. [§700] ENFORCEMENT 26 VIII. [ §800] DURATION OF THIS PLAN 26 IX. [ §900] PROCEDURE FOR AMENDMENT 26 Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page ii PA0808005.LE:PA:gbd 15190.005.004/11/24/08 ATTACHMENTS Attachment No. 1 Legal Description of the Project Area Boundaries Attachment No. 2 Project Area Map Attachment No. 3 Redevelopment Land Use Map Attachment No. 4 Proposed Public Improvements List Redevelopment Plan for the Rancho Laguna Redevelopment Project No. I11 Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page iii PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 AMENDED AND RESTATED REDEVELOPMENT PLAN FOR THE RANCHO LAGUNA REDEVELOPMENT PROJECT AREA NO. III I. [ §100] INTRODUCTION The City of Lake Elsinore has three redevelopment projects, Rancho Laguna Redevelopment Project Area No. I, Rancho Laguna Redevelopment Project Area No. II, and Rancho Laguna Redevelopment Project Area No. III ( "Project Areas "). The Project Areas have separate redevelopment plans that describe the Agency's authorities, responsibilities and limitations in implementing redevelopment in the Project Areas. This is the amended and restated redevelopment plan ( "Redevelopment Plan" or "Plan ") for the Rancho Laguna Redevelopment Project Area No. III ( "Project" or "Project Area ") in the City of Lake Elsinore ( "City "), County of Riverside ( "County "), State of California. This Plan was prepared by the Redevelopment Agency of the City of Lake Elsinore ( "Agency ") pursuant to the California Community Redevelopment Law ( "Community Redevelopment Law" or "CRL "; Health and Safety Code Section 33000 et seq.), the California Constitution, and all applicable local laws and ordinances. The proposed redevelopment of the area within the Project Area conforms to the City's General Plan ( "General Plan "), as amended from time to time, and as applied in accordance with local codes and ordinances. The original redevelopment plan ( "Original Redevelopment Plan ") was adopted by the City Council of the City of Lake Elsinore ( "City Council ") by Ordinance No. 815, on September 28, 1987 and thereafter has been amended twice by Ordinance No. 987 adopted on November 8, 1994 and by Ordinance No.1249, on February 26, 2008. The Project Area consists of four non - contiguous areas. The first area, known as the "East Lake /Back Basin ", is generally bounded by Palomar Road, the Lake Elsinore shoreline, Stoneman Street and Marjorie Street. The second non - contiguous area is bound by Palomar Road, Corydon Road, Union Street, Lakeshore Drive, Avenue 9 and the 15 Freeway. The fourth and last non - contiguous area, known as "The Heights" is generally bound by Lash, Ryan, and Heald Avenues to the south; Lindsay Avenue to the east, Flint and Baker Streets to the north, and Pierce Street to the west. A. 1 §1011 Project History The Original Redevelopment Plan was adopted by Ordinance No. 815 on September 28, 1987 and consisted of four non - contiguous areas totaling approximately 3,545 acres. The Original Redevelopment Plan has been amended twice since the Project's adoption. The first amendment adopted by Ordinance No. 987, on November 22, 1994 amended the time limits in accordance with Assembly Bill 1290. The second amendment adopted Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 1 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 by Ordinance No.1249 on February 26, 2008 eliminated the deadline to incur debt as permitted by State Bill 211 extended by one year the effectiveness dated from September 8, 2027 to September 8, 2028 and extended the ability to repay indebtedness and collect tax increment until September 8, 2038. B. J §1021 General This Redevelopment Plan replaces and supersedes the Original Redevelopment Plan as previously amended. This Plan consists of text, the Legal Description of the Project Area Boundaries (Attachment No.1), the Project Area Map (Attachment No. 2), the Redevelopment Land Use Map (Attachment No.3), and the Proposed Public Improvements List (Attachment No. 4). This Plan provides the Agency with powers, duties, and obligations to implement and further the redevelopment program generally formulated in this Plan for the redevelopment, rehabilitation, and revitalization of the Project Area. Because of the long -term nature of this Plan and the need to retain the Agency's flexibility to respond to market and economic conditions, property owner and developer interests, and opportunities presented for redevelopment from time to time, this Plan does not present a precise plan or establish specific projects for the redevelopment, rehabilitation, and revitalization of the Project Area. Instead, this Plan presents a process and a basic framework within which detailed plans will be presented, specific projects will be established, and appropriate solutions will be formulated. This Plan and the redevelopment activities and programs outlined herein provide tools to the Agency to fashion, develop, and proceed with such specific plans, projects, and solutions. Sections of this Plan specifically refer to and reiterate existing Community Redevelopment Law statutes. In the event that any CRL statutes are amended from time to time by the State legislature, and such CRL statutes would result in the Plan being in conflict with State law, the State law shall control. C. 1§1031 Purposes and Objectives The Project Area was adopted to add blighted territory that could be redeveloped with uses to improve the City's negative image and reverse the trend of business relocation outside of the City leaving only limited basic consumer services. Neighboring communities of Riverside and Hemet grew into regional trade and population centers while the once self sufficient community of Lake Elsinore was evolving into a bedroom community for Orange County. The Project Area is generally characterized by partially established residential development (the old County Club Heights and Avenue Areas) east and west of the Downtown and the remaining portions of the East Lake Specific Plan area (back basin). Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 2 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 The purposes and objectives of this Redevelopment Plan will be achieved by eliminating the conditions of blight, as defined by Community Redevelopment Law, existing in the Project Area and to prevent the recurrence of blighting conditions in the Project Area. The Agency proposes to eliminate such conditions and prevent their recurrence by providing, pursuant to this Plan, for the planning, development, re- planning, redesign, redevelopment, reconstruction and rehabilitation of the Project Area and by providing for such facilities as may be appropriate or necessary in the interest of the general welfare, in accord with the General Plan and other planning documents promulgated pursuant thereto as may be adopted or amended from time to time. The Agency proposes to: 1) Eliminate or alleviate blighting influences and environmental deficiencies; 2) Provide for the replanning, redesign and /or redevelopment of areas that are stagnant or improperly utilized; 3) Install new or replace existing public improvements, facilities, and utilities in areas that are currently inadequately served with regard to such improvements, facilities and utilities; 4) Provide opportunities for participation by owners and tenants in the revitalization of their properties; 5) Provide for the development and rehabilitation of housing in the proposed Project Area and elsewhere in the City for low and moderate income persons and families; and 6) Strengthen the commercial base of the Project Area and the corresponding expansion of employment opportunities. The foregoing goals and objectives are to be pursued and accomplished, subject to and consistent with, the General Plan, as amended from time to time. 11. [ §200] DESCRIPTION OF PROJECT AREA The boundaries of the Project Area are described in the "Legal Description of the Project Area Boundaries," attached hereto as Attachment No. 1 and incorporated herein by reference, and are shown on the "Project Area Map," attached hereto as Attachment No. 2 and incorporated herein by reference. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 3 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 III. [ §300] PROPOSED REDEVELOPMENT ACTIONS A. J §3011 General The Agency proposes to eliminate and prevent the spread of blight and deterioration in the Project Area by all appropriate means, including: 1. Permitting participation in the redevelopment process by owners of properties located in the Project Area consistent with this Plan and rules adopted by the Agency; 2. The acquisition of real property; 3. The elimination of areas experiencing economic dislocation and disuse; 4. The replanning, redesign and /or redevelopment of areas that are stagnant or improperly utilized; 5. The installation of new or replacement of existing public improvements, facilities, and utilities in areas that are currently inadequately served with regard to such improvements, facilities and utilities; 6. The development and rehabilitation of improved housing opportunities within the Project Area and elsewhere in the City for low and moderate income persons and families; 7. Providing relocation assistance to displaced persons and business concerns; 8. The demolition or removal of certain buildings and improvements; and 9. The disposition of property for uses in accordance with this Plan. In the accomplishment of these purposes and activities and in the implementation and furtherance of this Plan, the Agency is authorized to use all the powers provided in this Plan and all the powers now or hereafter permitted by law. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 4 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 B. [ §302] Participation Opportunities; Extension of Preferences for Reentry Within Redeveloped Proiect Area 1. [ §303] Opportunities for Owners and Business Occupants In accordance with this Plan and the rules for participation adopted by the Agency pursuant to this Plan and the Community Redevelopment Law, persons who are owners of real property in the Project Area shall be given a reasonable opportunity to participate in the redevelopment of the Project Area consistent with the objectives of this Plan. The Agency shall extend reasonable preferences to persons who are engaged in business in the Project Area to remain or reenter into business within the redeveloped Project Area if they otherwise meet the requirements prescribed in this Plan and the rules adopted by the Agency. 2. [ §304] Rules for Participation Opportunities, Priorities, and Preferences In order to provide opportunities to owners to participate in the redevelopment of the Project Area and to extend reasonable preferences to businesses to reenter into business within the redeveloped Project Area, the Agency shall promulgate rules for participation by owners and the extension of preferences to business tenants for reentry within the redeveloped Project Area. 3. [ §305] Participation Agreements The Agency may require, as a condition of participation in redevelopment, that each participant enter into a binding agreement with the Agency by which the participant agrees to rehabilitate, develop, use and maintain the property in conformance with this Plan and to be subject to the provisions hereof. In such participation agreements, participants may be required to join in the recordation of such documents as may be necessary to ensure the property will be developed and used in accordance with this Plan and the participation agreement. Whether or not a participant enters into a participation agreement with the Agency, the provisions of this Plan are applicable to all public and private property in the Project Area. In the event a participant fails or refuses to rehabilitate, develop, use and /or maintain its real property pursuant to this Plan and a participation agreement, the Agency will exercise any or all rights or remedies it may have in order to provide for the rehabilitation, development, use and /or maintenance of the real property in accordance with this Plan. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 5 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 4. [ §306] Conforming Owners The Agency may, at its sole and absolute discretion, determine that certain real property within the Project Area presently meets the requirements of this Plan, and the owner of such property will be permitted to remain as a conforming owner without a participation agreement with the Agency provided such owner continues to operate, use, and maintain the real property within the requirements of this Plan. However, a conforming owner may be required to enter into a participation agreement with the Agency in the event that such owner desires to: (a) construct any additional improvements or substantially alter or modify existing structures on any of the real property described above as conforming; or (b) acquire additional property within the Project Area. 5. [ §307] Implementing Rules The provisions of Sections 302 through 306 shall be implemented according to the rules adopted by the Agency prior to the approval of this Plan, as the same may be from time to time amended by the Agency. Where there is a conflict between the participation and re -entry preference provisions in this Plan and such rules adopted by the Agency, this Plan shall prevail. C. 1 §3081 Cooperation with Public Bodies Certain public bodies are authorized by state law to aid and cooperate, with or without consideration, in the planning, undertaking, construction, or operation of this Project. The Agency shall seek the aid and cooperation of such public bodies and shall attempt to coordinate this Plan with the activities of such public bodies in order to accomplish the purposes of redevelopment and the highest public good. The Agency, by law, is not authorized to acquire real property owned by public bodies without the consent of such public bodies. The Agency, however, will seek the cooperation of all public bodies that own or intend to acquire property in the Project Area. Any public body that owns or leases property in the Project Area will be afforded all the privileges of owner and tenant participation if such public body is willing to enter into a participation agreement with the Agency. All plans for development of property in the Project Area by a public body shall be subject to Agency approval. The Agency may impose on all public bodies the planning and design controls contained in this Plan to insure that present uses and any future development by public bodies will conform to the requirements of this Plan. To the extent now or hereafter permitted by law, the Agency is authorized to financially (and otherwise) assist any public entity in the cost of public land, buildings, facilities, structures, or other improvements that are or would be of benefit to the Project. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 6 PA0808005.LE:PA.gbd 151 90.005.004/11 /24/08 D. j §3091 Property Acquisition 1. [ §310] Real Property Subject to the limitations described below, the Agency may acquire, but is not required to acquire, any real property located in the Project Area by gift, grant, bequest, devise, exchange, lease, purchase or any other lawful method. The Agency cannot acquire real property by eminent domain. The Agency's condemnation authority has expired and cannot be reinstated without an amendment to this Plan in accordance with the requirements of the Community Redevelopment Law. The Agency shall not acquire real property to be retained by an owner pursuant to a participation agreement if the owner fully performs under the participation agreement. The Agency is authorized to acquire structures without acquiring the land upon which those structures are located. The Agency is authorized to acquire either the entire fee or any other interest in real property less than a fee. The Agency shall not acquire real property on which an existing building is to be continued on its present site and in its present form and use without the consent of the owner unless: (a) such building requires structural alteration, improvement, modernization, or rehabilitation; (b) the site, or lot on which the building is situated, requires modification in size, shape, or use; or (c) it is necessary to impose upon such property any of the controls, limitations, restrictions, and requirements of this Plan and the owner fails or refuses to execute a participation agreement in accordance with the provisions of this Plan. The Agency is not authorized to acquire real property owned by public bodies that do not consent to such acquisition. The Agency is authorized, however, to acquire public property transferred to private ownership before redevelopment of the Project Area is completed, unless the Agency and the private owner enter into a participation agreement and the owner completes his responsibilities under the participation agreement. 2. [§311] Personal Property Generally, personal property shall not be acquired. However, where necessary in the execution of this Plan, the Agency is authorized to acquire personal property in the Project Area by any lawful means, excluding eminent domain. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 7 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 E. 143121 Property Management During such time as property, if any, in the Project Area is owned by the Agency, such property shall be under the management and control of the Agency. Such property may be rented or leased by the Agency pending its disposition for redevelopment, and such rental or lease shall be pursuant to such policies as the Agency may adopt. F. [ §3131 Payments to Taxing Agencies The Agency shall make payments to taxing agencies in accordance with such agreements as were entered into in connection with the adoption of the Redevelopment Plan. G. j §3141 Relocation of Persons, Business Concerns, and Others Displaced by the Project 1. [ §315] Relocation Housinq Requirements No persons or families of low and moderate income shall be displaced unless and until there is a suitable housing unit available and ready for occupancy by such displaced person or family at rents comparable to those at the time of their displacement. Such housing units shall be suitable to the needs of such displaced persons or families and must be decent, safe, sanitary, and otherwise standard dwellings. Permanent housing facilities shall be made available within three years from the time occupants are displaced. Pending the development of such facilities, adequate temporary housing facilities shall be made available to such displaced occupants at rents comparable to those in the community at the time of their displacement. 2. [ §316] Replacement Housinq Plan Not Tess than thirty days prior to the execution of an agreement for acquisition of real property, or the execution of an agreement for the disposition and development of property or the execution of an owner participation agreement, which agreement would lead to the destruction or removal of dwelling units from the low and moderate income housing market, the Agency shall adopt, by resolution, a replacement housing plan. The replacement housing plan shall include: (1) the general location of housing to be rehabilitated, developed, or constructed pursuant to Section 33413 of the Community Redevelopment Law: (2) an adequate means of financing such rehabilitation, development, or construction; (3) a finding that the replacement housing does not require Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 8 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 the approval of the voters pursuant to Article XXXIV of the California Constitution, or that such approval has been obtained; (4) the number of dwelling units housing persons and families of low or moderate income planned for construction or rehabilitation; and (5) the timetable for meeting the plan's relocation, rehabilitation, and replacement housing objectives. A dwelling unit whose replacement is required by Section 33413 shall not be destroyed or removed from the low and moderate income housing market until the Agency has by resolution adopted a replacement housing plan. Nothing in this section shall prevent the Agency from destroying or removing from the low and moderate income housing market a dwelling unit which the Agency owns and which is an immediate danger to health and safety. The Agency shall, as soon as practicable, adopt by resolution, a replacement housing plan with respect to such dwelling unit. 3. [ §317] Assistance in Finding Other Locations The Agency shall assist all persons (including individuals and families), business concerns, and others displaced by Agency action in the Project Area in finding other locations and facilities. In order to carry out the Project with a minimum of hardship to persons (including individuals and families), business concerns, and others, if any, displaced from their respective places of residence or business, the Agency shall assist such persons (including individuals and families), business concerns and others in finding new locations that are decent, safe, sanitary, within their respective financial means, in reasonably convenient locations, and otherwise suitable to their respective needs. Such assistance shall be provided pursuant to the California Relocation Assistance Law (Government Code Section 7260 et seq.) and Agency rules and regulations adopted pursuant thereto as such may be amended from time to time. The Agency may also provide housing inside or outside the Project Area for displaced persons. 4. [ §318] Relocation Payments The Agency shall make all relocation payments required by law to persons (including individuals and families), business concerns, and others displaced by the Project. Such relocation payments shall be made pursuant to the California Relocation Assistance Law (Government Code Section 7260 et seq.) and Agency rules and regulations adopted pursuant thereto as such may be amended from time to time. The Agency may make such other payments as it may deem appropriate and for which funds are available. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 9 PA0808005.LE:PA:gbd 15190.005.004/11/24/08 H. J43191 Demolition, Clearance, and Building and Site Preparation 1. [ §320] Demolition and Clearance The Agency is authorized to demolish and clear buildings, structures, and other improvements from any real property in the Project Area as necessary to carry out the purposes of this Plan. 2. [ §321] Preparation of Building Sites The Agency is authorized to prepare, or cause to be prepared, as building sites any real property in the Project Area owned by the Agency. In connection therewith, the Agency may cause, provide for, or undertake the installation or construction of streets, utilities, parks, playgrounds, and other public improvements necessary to carry out this Plan. Prior consent of the City Council is required for the Agency to develop sites for commercial or industrial use by providing streets, sidewalks, utilities, or other improvements which an owner or operator of the site would otherwise be obligated to provide. I. 1432211 Property Disposition and Development 1. [ §323] Real Property Disposition and Development a. [ §324] General For the purposes of this Plan, the Agency is authorized to sell, lease, exchange, subdivide, transfer, assign, pledge, encumber by mortgage or deed of trust, or otherwise dispose of any interest in real property. To the extent permitted by law, the Agency is authorized to dispose of real property by negotiated lease, sale, or transfer without public bidding. Property acquired by the Agency for rehabilitation and resale shall be offered for resale within one (1) year after completion of rehabilitation or an annual report concerning such property shall be published by the Agency as required by law. Real property acquired by the Agency may be conveyed by the Agency without charge to the City and, where beneficial to the Project Area, without charge to any public body. All real property acquired by the Agency in the Project Area shall be sold or leased to public or private persons or entities for development for the uses permitted in this Plan. All purchasers or lessees of property acquired from the Agency shall be obligated to use the property for the purposes designated in this Plan, to begin and complete development of the property within a period of time which the Agency fixes as Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 10 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 reasonable, and to comply with other conditions which the Agency deems necessary to carry out the purposes of this Plan. b. [ §325] Disposition and Development Documents To provide adequate safeguards to ensure that the provisions of this Plan will be carried out and to prevent the recurrence of blight, all real property sold, leased, or conveyed by the Agency, as well as all property subject to participation agreements, is subject to the provisions of this Plan. The Agency shall reserve such powers and controls in the disposition and development documents as may be necessary to prevent transfer, retention, or use of property for speculative purposes and to ensure that development is carried out pursuant to this Plan. Leases, deeds, contracts, agreements, and declarations of restrictions of the Agency may contain restrictions, covenants, covenants running with the land, rights of reverter, conditions subsequent, equitable servitudes, or any other provisions necessary to carry out this Plan. Where appropriate, as determined by the Agency, such documents, or portions thereof, shall be recorded in the office of the Recorder of County of Riverside. All property in the Project Area is hereby subject to the restriction that there shall be no discrimination or segregation in the sale, lease, sublease, transfer, use, occupancy, tenure, or enjoyment of property in the Project Area on account of any basis listed in subdivision (a) or (d) of Section 12955 of the Government Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of Section 12955 and Section 12955.2 of the Government Code. All property sold, leased, conveyed, or subject to a participation agreement shall be expressly subject by appropriate documents to the restriction that all deeds, leases, or contracts for the sale, lease, sublease, or other transfer of land in the Project Area shall contain such non- discrimination and non - segregation clauses as required by law. c. [ §326] Development by the Agency To the extent now or hereafter permitted by law, the Agency is authorized to pay for, develop, or construct any publicly -owned building, facility, structure, or other improvement either within or without the Project Area, for itself or for any public body or entity, which buildings, facilities, structures, or other improvements are or would be of benefit to the Project Area. Specifically, the Agency may pay for, install, or construct the buildings, facilities, structures, and other improvements identified in Attachment No. 4, attached hereto and incorporated herein by reference, and may acquire or pay for the land required therefor. In addition to the public improvements authorized under Section 321 and the publicly - owned improvements identified in Attachment No. 4 of this Plan, the Agency is Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 11 PA0808005.LE:PA:gbd 15190.005.004/11/24/08 authorized to install and construct, or to cause to be installed and constructed, within or without the Project Area, for itself or for any public body or entity for the benefit of the Project Area, public improvements and public utilities, including, but not limited to, the following: (1) sewers; (2) natural gas distribution systems; (3) water distribution systems; (4) parks, plazas, and pedestrian paths; (5) parking facilities; (6) landscaped areas; (7) street improvements; and (8) storm water facilities. The Agency may enter into contracts, leases, and agreements with the City or other public body or entity pursuant to this Section 326, and the obligation of the Agency under such contract, lease, or agreement shall constitute an indebtedness of the Agency which may be made payable out of the taxes levied in the Project Area and allocated to the Agency under subdivision (b) of Section 33670 of the Community Redevelopment Law and Section 502 of this Plan or out of any other available funds. d. [ §327] Development Plans All development in the Project Area must conform to the City's General Plan, as amended from time to time, and all applicable City zoning, subdivision, and design review standards subject to the City's standard processing of land use entitlements. All development plans (whether public or private) shall be submitted to the Agency for review and approval. 2. ( §328] Personal Property Disposition For the purposes of this Plan, the Agency is authorized to lease, sell, exchange, transfer, assign, pledge, encumber, or otherwise dispose of personal property that is acquired by the Agency. J. J §3291 Rehabilitation, Conservation, and Moving of Structures 1. [ §330] Rehabilitation and Conservation The Agency is authorized to rehabilitate and conserve, or to cause to be rehabilitated and conserved, any building or structure in the Project Area owned by the Agency. The Agency is also authorized and directed to advise, encourage, and assist in the rehabilitation and conservation of property in the Project Area not owned by the Agency. 2. [ §331] Moving of Structures As necessary in carrying out this Plan, the Agency is authorized to move, or to cause to be moved, any standard structure or building or any structure or building that can be rehabilitated to a location within or outside the Project Area. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 12 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 K. 143321 Low and Moderate Income Housing 1. [ §333] Authority Generally The Agency may, inside or outside the Project Area, acquire land, improve sites, or construct or rehabilitate structures in order to provide housing for persons and families of low or moderate income. The Agency may also provide subsidies to or for the benefit of, such persons and families or households to assist them in obtaining housing. The Agency may also sell, lease, grant, or donate real property owned or acquired by the Agency to non - profit or for - profit housing developers in carrying out the provisions of Sections 334 and 335 herein below. 2. [ §334] Replacement Housing In accordance with Sections 33334.5 and 33413 of the Community Redevelopment Law, whenever dwelling units housing persons and families of low or moderate income are destroyed or removed from the low and moderate income housing market as part of a redevelopment project that is subject to a written agreement with the Agency or where financial assistance has been provided by the Agency, the Agency shall, within four years of such destruction or removal, rehabilitate, develop, or construct, or cause to be rehabilitated, developed, or constructed, for rental or sale to persons and families of low or moderate income, an equal number of replacement dwelling units which have an equal or greater number of bedrooms as those destroyed or removed units at affordable housing costs, as defined by Sections 50052.5 and 50053 of the Health and Safety Code, within the territorial jurisdiction of the Agency, in accordance with all of the provisions of Sections 33413 and 33413.5 of the Community Redevelopment Law. All (100 %) of the replacement dwelling units shall be available at affordable housing cost to persons in the same or a lower income category (low, very low or moderate), as the persons displaced from those destroyed or removed units. 3. [ §335] Increase, Improve and Preserve the Supply Pursuant to Section 33334.2 of the Community Redevelopment Law, not less than 20 percent of all taxes which are allocated to the Agency pursuant to subdivision (b) of Section 33670 of the Community Redevelopment Law and Section 502 of this Plan shall be used by the Agency for the purposes of increasing, improving and preserving the City's supply of low and moderate income housing available at affordable housing costs, as defined by Sections 50052.5 and 50053 of the Health and Safety Code, to persons and families of low or moderate income, as defined in Section 50093 of the Health and Safety Code, lower income households, as defined in Section 50079.5 of the Health and Safety Code, very low income households, as defined in Section 50105 of the Health and Safety Code, and extremely low income households, as defined in Section 50106 of the Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 13 PA0808005.LE:PA:gbd 15190.005.004/11/24/08 Health and Safety Code, unless one of the findings permitted by Section 33334.2 is made annually by resolution. The Agency may use these funds to meet, in whole or in part, the replacement housing provisions in Section 334 above or the inclusionary housing provisions in Section 336 below. These funds may be used inside or outside the Project Area provided, however, that such funds may be used outside the Project Area only if findings of benefit to the Project are made as required by said Section 33334.2 of the Community Redevelopment Law. The funds for these purposes shall be held in a separate Low and Moderate Income Housing Fund. Any interest earned by such Low and Moderate Income Housing Fund and any repayments or other income to the Agency for loans, advances, or grants, of any kind, from such Low and Moderate Income Housing Fund, shall accrue to and be deposited in, the fund and may only be used in the manner prescribed for the Low and Moderate Income Housing Fund. Pursuant to the requirements of Section 33334.12 of the Community Redevelopment Law, upon failure of the Agency to expend or encumber excess surplus funds in the Low and Moderate Income Housing Fund within one year from the date the moneys become excess surplus, as defined in Section 33334.12 of the Community Redevelopment Law, the Agency shall either disburse that excess surplus to the County Housing Authority or to another public agency in accordance with said Section 33334.12, or expend or encumber the excess surplus within two additional years. If Low and Moderate Income Funds are transferred, the housing authority or other public agency shall utilize the moneys for the purposes of, and subject to, the same restrictions that are applicable to the Agency under the Community Redevelopment Law, and for that purpose may exercise all of the powers of a housing authority under the Housing Authorities Law (Section 34200 et seq. of the Health and Safety Code) to the extent not inconsistent with the CRL limitations. 4. [ §336] New or Rehabilitated Dwelling Units Developed within the Proiect Area At least thirty percent (30 %) of all new and substantially rehabilitated dwelling units developed by the Agency, if any, shall be available at affordable housing cost to, and occupied by, persons and families of low or moderate income. Not less than fifty percent (50 %) of the dwelling units required to be available at affordable housing cost to persons and families of low or moderate income shall be available at affordable housing cost to, and occupied by, very low income households. At least fifteen percent (15 %) of all new and substantially rehabilitated dwelling units developed within the Project Area by public or private entities or persons other than the Agency, if any, shall be available at affordable housing cost to, and occupied by, persons and families of low or moderate income. Not less than forty percent (40 %) of the Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 14 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 dwelling units required to be available at affordable housing cost to, and occupied by, persons and families of low or moderate income shall be available at affordable housing costs to, and occupied by, very low income households. The Agency may satisfy the provisions of the above paragraphs, in whole or in part, by any of the methods described in Community Redevelopment Law Section 33413(b) or any other method permitted by law. The percentage requirements set forth in this Section 336 shall apply independently of the requirements of Section 334 and in the aggregate to housing made available pursuant to the first and second paragraphs, respectively, of this Section 336 and not to each individual case of rehabilitation, development or construction of dwelling units, unless the Agency determines otherwise. If all or any portion of the Project Area is developed with low or moderate income housing units, the Agency shall require by contract or other appropriate means that such housing be made available for rent or purchase to the persons and families of low and moderate income displaced by the Project. Such persons and families shall be given priority in renting or buying such housing; provided, however, failure to give such priority shall not affect the validity of title to real property. 5. [ §337] Duration of Dwelling Unit Affordability and Agency Monitoring The Agency shall require all new and substantially rehabilitated dwelling units and all replacement dwelling units and inclusionary dwelling units rehabilitated developed, constructed, or price- restricted pursuant to Sections 334 and 336 to remain available at affordable housing cost to persons and families of low income, moderate income and very low income households, respectively, for the longest feasible time, as determined by the Agency, but for not less than 55 -years for rental units and 45 -years for ownership units, except to the extent a longer or shorter period of time is permitted or required by other provisions of the CRL or other applicable law. Pursuant to Section 33418 of the Community Redevelopment Law, the Agency shall monitor, on an ongoing basis, any housing affordable to persons and families of low or moderate income developed or otherwise made available pursuant to the Community Redevelopment Law. As part of this monitoring, the Agency shall require owners or managers of the housing to submit an annual report to the Agency. The annual reports shall include for each rental unit the rental rate and the income and family size of the occupants, and for each owner - occupied unit whether there was a change in ownership from the prior year and, if so, the income and family size of the new owners. The income information required by this section shall be supplied by the tenant in a certified statement on a form provided by the Agency. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 15 PA0808005.LE:PA:gbd 15190.005.004/11/24/08 L. j §3381 Implementation Plans In accord with the provisions of Section 33490(b) of the Community Redevelopment Law, the Agency adopted an Implementation Plan for the Project. Commencing with the fifth year after the first implementation plan was adopted, and each five years thereafter, the Agency shall adopt, after a public hearing, succeeding implementation plans that shall contain the specific goals and objectives of the Agency for the Project Area, the specific programs, including potential projects, and estimated expenditures proposed to be made during the next five years, and an explanation of how the goals and objectives, programs, and expenditures will eliminate blight within the Project Area and implement the requirements of Sections 33334.2, 33334.4, 33334.6, and 33413 of the Community Redevelopment Law. The parts of future implementation plans that address Sections 33334.2, 33334.4, 33334.6, and 33413 of the Community Redevelopment Law shall be adopted every five years either in conjunction with the General Plan Housing Element cycle or the implementation plan cycle. The Agency may adopt implementation plans that include more than one project area, and may amend the implementation plan after conducting a public hearing on the proposed amendment. At least once within the five -year term of each implementation plan adopted by the Agency, no earlier than two years and no later than three years after adoption of each implementation plan, the Agency shall conduct a public hearing and hear testimony of all interested parties for the purpose of reviewing this Plan and the implementation plan and evaluating the progress of the Project. The hearing may be for two or more project areas if those project areas are included within the same implementation plan. IV. [§400] USES PERMITTED IN THE PROJECT AREA A. j§4011 Permitted Land Uses The "Redevelopment Land Use Map ", attached hereto as Attachment No. 3 and incorporated herein by reference, illustrates the location of the Project Area boundaries, major streets within the Project Area, and the land uses authorized within the Project Area as reflected in the current City General Plan. The City will from time to time update and revise the City General Plan. It is the intention of this Plan that the land uses and overall street layout to be permitted within the Project Area shall be as provided within the City's General Plan, as it currently exists or as it may from time to time be amended, and as implemented and applied by City ordinances, resolutions and other applicable laws. Uses other than those designated in the City's General Plan and its land use map may be authorized by the City from time to time by amendments to the City's General Plan as authorized by law. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 16 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 B. f §4021 Other Land Uses 1. [ §403] Public Rights- of -Wav As illustrated on the Redevelopment Land Use Map (Attachment No. 3), the major public streets /roadways within the Project Area include: Dryden Street, Gunnerson Street, Ryan Lane, Flint Street, Lindsay Street, Ellis Street, Avenue 9, Lakeshore Drive, Marjorie Street, Cereal Street, Como Street, and Palomar Street. Additional public streets, alleys, and easements may be created in the Project Area as needed for proper development. Existing streets, alleys, and easements may be abandoned, closed, or modified as necessary for proper development of the Project. Any changes in the existing interior or exterior street layout shall be in accordance with the City's General Plan, as amended from time to time, the objectives of this Plan, and the City's design standards, shall be effectuated in the manner prescribed by state and local law, and shall be guided by the following criteria: a. The requirements imposed by such factors as topography, traffic safety and aesthetics; b. The potential need to serve not only the Project Area and new or existing developments but to also serve areas outside the Project by providing convenient and efficient vehicular access and movement; and c. The potential need or desire to accommodate the facilities and /or equipment of mass transportation modes. The public rights -of -way may be used for vehicular and /or pedestrian traffic, as well as for public improvements, public and private utilities, and activities typically found in public rights -of -way. 2. [ §404] Other Public, Semi - Public, Institutional, and Non - profit Uses For any area of the Project Area, the Agency, per the land use designations and regulations within the City's General Plan, as amended from time to time, is authorized to permit the maintenance, establishment, or enlargement of public, semi - public, institutional, or non - profit uses, including park and recreational facilities, libraries, educational, fraternal, employee, philanthropic, religious and charitable institutions, utilities, railroad rights -of -way, and facilities of other similar associations or organizations. All such uses shall, to the extent possible, conform to the provisions of this Plan applicable to the uses in the specific area involved. The Agency may impose such other Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 17 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 reasonable requirements and /or restrictions as may be necessary to protect the development and use of the Project Area. 3. [ §405] Interim Uses Pending the ultimate development of land by developers and participants, the Agency is authorized to use or permit the use of any land in the Project Area for interim uses that are not in conformity with the uses permitted in this Plan. 4. [ §406] Non - conforming Uses The Agency may permit an existing use to remain in an existing building in good condition which use does not conform to the provisions of this Plan, provided that such use is generally compatible with existing and proposed developments and uses in the Project Area. The Agency may authorize additions, alterations, repairs, or other improvements in the Project Area for uses which do not conform to the provisions of this Plan where such improvements are within a portion of the Project where, in the determination of the Agency, such improvements would be compatible with surrounding Project uses and development. C. 1§4071 General Controls and Limitations All real property in the Project Area is made subject to the controls and requirements of this Plan. No real property shall be developed, rehabilitated or otherwise changed after the date of adoption of this Plan, except in conformance with the provisions of this Plan. 1. [ §408] Construction All construction in the Project Area shall comply with all applicable state and local laws and codes in effect from time to time. In addition to applicable codes, ordinances, or other requirements governing development in the Project Area, additional specific performance and development standards may be adopted by the Agency to control and direct redevelopment activities in the Project Area. 2. [ §409] Rehabilitation and Retention of Properties Any existing structure within the Project Area approved by the Agency for retention and rehabilitation shall be repaired, altered, reconstructed, or rehabilitated in such a manner that it will be safe and sound in all physical respects and be attractive in appearance and not detrimental to the surrounding uses. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 18 PA0808005.LE:PA:gbd 15190.005.004(11124 /08 3. [ §410] Limitation on the Number of Buildings The number of buildings permitted in the Project Area shall not exceed the number of buildings permitted under the City's General Plan as amended from time to time. 4. [ §411] Number of Dwelling Units The number of dwelling units permitted in the Project Area shall not exceed the number of dwelling units permitted under the City's General Plan as amended from time to time. 5. [ §412] Limitation on Type, Size, and Height of Buildings Except as set forth in other sections of this Plan, the type, size, and height of buildings shall be as limited by applicable federal, state, and local statutes, ordinances, and regulations. 6. [ §413] Open Spaces, Landscaping, Light, Air, and Privacy The approximate amount of open space to be provided in the Project Area is the total of all areas that will be in the public rights -of -way, the public ground, the space around buildings, and all other outdoor areas not permitted to be covered by buildings. Landscaping shall be provided to enhance open spaces in the Project Area and create a high - quality aesthetic environment. Sufficient space shall be maintained between buildings in all areas to provide adequate light, air, and privacy. 7. [ §414] Signs All signs shall conform to City sign ordinances and other requirements as they now exist or are hereafter amended. 8. [ §415] Utilities The Agency shall require that all utilities be placed underground whenever physically and economically feasible. 9. [ §416] Incompatible Uses No use or structure which by reason of appearance, traffic, smoke, glare, noise, odor, or similar factors, as determined by the Agency, would be incompatible with the surrounding areas or structures shall be permitted in any part of the Project Area. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 19 PA0808005.LE:PA:gbd 15190.005.004/11/24/08 10. [ •417] Non - discrimination and Non - segregation There shall be no discrimination or segregation in the sale lease, sublease, transfer, use, occupancy, tenure, or enjoyment of property in the Project Area on account of any basis listed in subdivision (a) or (d) of Section 12955 of the Government Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of Section 12955 and Section 12955.2 of the Government Code. 11. [ §418] Minor Variations Under exceptional circumstances, the Agency is authorized to permit a variation from the limits, restrictions, and controls established by this Plan. In order to permit such variation, the Agency must determine that: a. The application of certain provisions of this Plan would result in practical difficulties or unnecessary hardships inconsistent with the general purpose and intent of this Plan; b. There are exceptional circumstances or conditions applicable to the property or to the intended development of the property that do not apply generally to other properties having the same standards, restrictions, and controls; c. Permitting a variation will not be materially detrimental to the public welfare or injurious to property or improvements in the area; and d. Permitting a variation will not be contrary to the objectives of this Plan or the City's General Plan. No variation shall be granted which changes a basic land use or which permits other than a minor departure from the provisions of this Plan. In permitting any such variation, the Agency shall impose such conditions as are necessary to protect the public peace, health, safety, or welfare and to assure compliance with the purposes of this Plan. Any variation permitted by the Agency hereunder shall not supersede any other approval required under applicable City codes and ordinances. D. J §4191 Design for Development Within the limits, restrictions, and controls established in this Plan, the Agency is authorized to establish heights of buildings, land coverage, setback requirements, design criteria, traffic circulation, traffic access, and other development and design controls necessary for proper development of both private and public areas within the Project Area. Such limitations, restrictions and controls are subject to the City's General Plan and zoning standards. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 20 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 No new improvement shall be constructed, and no existing improvement shall be substantially modified, altered, repaired, or rehabilitated, except in accordance with this Plan and any such controls and, in the case of property which is the subject of a disposition and development or participation agreement with the Agency and any other property, at the discretion of the Agency, in accordance with architectural, landscape, and site plans submitted to and approved in writing by the Agency. One of the objectives of this Plan is to create an attractive and pleasant environment in the Project Area. Therefore, such plans shall give consideration to good design, open space, and other amenities to enhance the aesthetic quality of the Project Area. The Agency shall not approve any plans that do not comply with this Plan. E. 1 §4201 Building Permits No permit shall be issued for the construction of any building or for any construction on an existing building in the Project Area from the date of adoption of this Plan until the application for such permit has been approved as consistent with this Plan and processed in a manner consistent with all City requirements. An application shall be deemed consistent with this Plan if it is consistent with the City's General Plan as amended from time to time, applicable zoning and subdivision ordinances and any adopted design standards and other applicable laws and regulations. V. [ §500] METHODS OF FINANCING THE PROJECT A. 1§5011 General Description of the Proposed Financing Method The Agency is authorized to finance this Project with financial assistance from the City, the State of California, the federal government, tax increment funds, interest income, Agency bonds, donations, loans from private financial institutions, the lease or sale of Agency -owned property, or any other available source, public or private. The Agency is also authorized to obtain advances, borrow funds, and create indebtedness in carrying out this Plan. The principal and interest on such advances, funds, and indebtedness may be paid from tax increments or any other funds available to the Agency. Advances and loans for survey and planning and for the operating capital for nominal administration of this Project may be provided by the City until adequate tax increment or other funds are available, or sufficiently assured, to repay the advances and loans and to permit borrowing adequate working capital from sources other than the City. The City, as it is able, may also supply additional assistance through City loans and grants for various public facilities. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 21 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 The City or any other public agency may expend money to assist the Agency in carrying out this Project. As available, gas tax funds from the state and City may be used for street improvements and public transit facilities. B. 145021 Tax Increment Funds All taxes levied upon taxable property within the Project Area each year, by or for the benefit of the State of California, the City of Lake Elsinore, any district, or any other public corporation (hereinafter sometimes called "taxing agencies "), after the effective date of the ordinance approving this Plan shall be divided as follows: 1. That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Project as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency, last equalized prior to the effective date of such ordinance, shall be allocated to and when collected shall be paid into the funds of the respective taxing agencies as taxes by or for the taxing agencies on all other property are paid (for the purpose of allocating taxes levied by or for any taxing agency or agencies which did not include the territory of the Project on the effective date of such ordinance but to which such territory is annexed or otherwise included after such effective date, the assessment roll of County of Riverside, last equalized on the effective date of said ordinance, shall be used in determining the assessed valuation of the taxable property in the Project on said effective date). 2. Except as provided in subdivision 3 of this Section 502, below, that portion of said levied taxes each year in excess of such amount shall be allocated to and when collected shall be paid into a special fund of the Agency to pay the principal of and interest on loans, moneys advanced to, or indebtedness (whether funded, refunded, assumed, or otherwise) incurred by the Agency to finance or refinance, in whole or in part, this Project. Unless and until the total assessed valuation of the taxable property in the Project exceeds the total assessed value of the taxable property in the Project as shown by the last equalized assessment roll referred to in subdivision 1 of this Section 502, above, all of the taxes levied and collected upon the taxable property in the Project shall be paid into the funds of the respective taxing agencies as taxes on all other property are paid. 3. That portion of the taxes in excess of the amount identified in subdivision 1 of this Section 502, above, which are attributable to a tax rate levied by a taxing agency which was approved by the voters of the taxing agency on or after January 1, 1989, for the purpose of producing revenues in an amount sufficient to make annual repayments of the principal of, and the interest on, any bonded Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 22 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 indebtedness for the acquisition or improvement of real property shall be allocated to, and when collected shall be paid into, the fund of that taxing agency. The portion of taxes mentioned in subdivision 2 of this Section 502, above, are hereby irrevocably pledged for the payment of the principal of and interest on the advance of moneys, or making of loans or the incurring of any indebtedness (whether funded, refunded, assumed, or otherwise) by the Agency to finance or refinance the Project, in whole or in part. The Agency is authorized to make such pledges as to specific advances, loans, and indebtedness as appropriate in carrying out the Project. The maximum amount of tax increment to be allocated to the Agency pursuant to subdivision 2 of the this Section 502 shall not exceed $20,000,000 (twenty million dollars) during any one fiscal tax year; provided, however, that any shortfall within the allowable annual allocation of tax increment shall be carried forward to the following year or years and shall be available to the Agency until the period for receipt of tax increment/repayment of debt has terminated. The Agency cannot receive tax increment in any fiscal year that exceeds the sum of the annual limit plus any unallocated revenues that have rolled over from previous years. Nor can the total amount of tax increment revenues received by the Agency pursuant to this Plan exceed the aggregate of the annual limit over the period to receive tax increment/repayment of debt as provided in Section 505 and applicable provisions of the CRL. The limits on the allocation of tax increment applies to tax increment received and deposited by the Agency and is net of pass- through agreements, statutory payments to taxing entities pursuant to CRL Sections 33607.5 and 33607.7, County administrative charges and ERAF payments. C. J §5031 Bonds, Advances and Indebtedness The Agency is authorized to issue bonds from time to time, if it deems appropriate to do so, in order to finance all or any part of the Project. Neither the officers, employees and agents of the Agency, nor any persons executing the bonds are liable personally on the bonds by reason of their issuance. The bonds and other obligations of the Agency are not a debt of the City or the state, nor are any of its political subdivisions liable for them, nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the Agency, and such bonds and other obligations shall so state on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. The amount of bonded indebtedness to be repaid in whole or part from the allocation of taxes described in subdivision 2 of Section 502 above which can be outstanding at any one time for the Project Area shall not exceed one hundred and fifty million dollars ($150,000,000) in principal amount, except by amendment of this Plan. This limit, Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 23 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 however, shall not prevent the Agency from issuing additional bonds in order to fulfill the Agency's obligations under Section 33413 of the Health and Safety Code. D. J §5041 Time Limit on Establishment of Indebtedness The Agency shall not establish or incur loans, advances, or indebtedness to finance in whole or in part the Project Area except for purposes of incurring loans, advances and indebtedness paid solely from the Agency's Low and Moderate Income Housing Fund. The Agency is authorized to incur or establish more debt in order to fulfill the Agency's affordable housing obligations any time during which the Redevelopment Plan is effective or as otherwise permitted by the CRL. Loans, advances, or indebtedness may be repaid over a period of time beyond said time limit. This time limit shall not prevent the Agency from incurring debt to be paid from the Low and Moderate Income Housing Fund established pursuant to Section 33334.2 of the Community Redevelopment Law and Section 335 of this Plan, or establishing more debt in order to fulfill the Agency's obligations under Section 33413 of the Community Redevelopment Law and Section 334 of this Plan. The above limit shall not prevent the Agency from refinancing, refunding or restructuring indebtedness after the time limit if the indebtedness is not increased and the time during which the indebtedness is to be repaid is not extended beyond the time limit contained in this Section 504. E. J$5051 Time Limit on Receipt of Tax Increment The Agency may not receive and shall not repay indebtedness with the proceeds from property taxes received pursuant to 33670 of the Community Redevelopment Law and Section 502 of this Plan beyond September 8, 2038, except to repay debt to be paid from the Low and Moderate Income Housing Fund established pursuant to Section 33334.2 of the Community Redevelopment Law and Section 335 of this Plan, or debt established in order to fulfill the Agency's obligations under Section 33413 of the Community Redevelopment Law and Section 334 of this Plan. F. J §5061 Other Loans and Grants Any other loans, grants, guarantees, or financial assistance from the United States, the State of California, or any other public or private source will be utilized if available. VI. [ §600] ACTIONS BY THE CITY The City shall aid and cooperate with the Agency in carrying out this Plan and shall take all actions necessary to ensure the continued fulfillment of the purposes of this Plan and to prevent Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 24 PA0808005.LE:PA:gbd 15190.005.004/11 /24/08 the recurrence or spread in the area of conditions causing blight. Actions by the City shall include, but not be limited to, the following: A. Institution and completion of proceedings for opening, closing, vacating, widening, or changing the grades of streets, alleys, and other public rights -of -way and for other necessary modifications of the streets, the street layout, and other public rights -of way in the Project Area. Such action by the City shall include the requirement of abandonment, removal, and relocation by the public utility companies of their operations of public rights -of -way as appropriate to carry out this Plan provided that nothing in this Plan shall be construed to require the cost of such abandonment, removal, and relocation to be borne by others than those legally required to bear such cost. B. Provision of advances, loans, or grants to the Agency or the expenditure of funds for projects implementing this Plan as deemed appropriate by the City and to the extent funds are available therefor. C. Institution and completion of proceedings necessary for changes and improvements in private and publicly -owned public utilities within or affecting the Project Area. D. Revision of zoning (if necessary) within the Project Area to permit the land uses and development authorized by this Plan. E. Imposition wherever necessary (by conditional use permits or other means) of appropriate controls within the limits of this Plan upon parcels in the Project Area to ensure their proper development and use. F. Provision for administrative enforcement of this Plan by the City after development. The City and the Agency shall develop and provide for enforcement of a program for continued maintenance by owners of all real property, both public and private, within the Project Area throughout the duration of this Plan. G. Performance of the above actions and of all other functions and services relating to public peace, health, safety, and physical development normally rendered in accordance with a schedule which will permit the redevelopment of the Project Area to be commenced and carried to completion without unnecessary delays. H. The undertaking and completing of any other proceedings necessary to carry out the Project. The forgoing actions to be taken by the City do not involve or constitute any commitment for financial outlays by the City unless specifically agreed to and authorized by the City. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 25 PA0808005.LE•PA:gbd 15190.005.004/11 /24/08 VII. [ §700] ENFORCEMENT The administration and enforcement of this Plan, including the preparation and execution of any documents implementing this Plan, shall be performed by the Agency and /or the City. The provisions of this Plan or other documents entered into pursuant to this Plan may also be enforced by court litigation instituted by either the Agency or the City. Such remedies may include, but are not limited to specific performance, damages, reentry, injunctions, or any other remedies appropriate to the purposes of this Plan. In addition, any recorded provisions which are expressly for the benefit of owners of property in the Project Area may be enforced by such owners. VIII. [§800] DURATION OF THIS PLAN Except for the non - discrimination and non - segregation provisions imposed by the Agency which shall run in perpetuity, and the affordable housing covenants imposed by the Agency which shall continue in effect for a period as may be determined and specified by the Agency and the CRL, the provisions of this Plan shall be effective, and the provisions of other documents formulated pursuant to this Plan may be made effective until September 8, 2028 provided, however, that, subject to the limitations and exceptions thereto set forth in Sections 504 and 505 of this Plan, the Agency may issue bonds and incur obligations pursuant to this Plan which extend beyond the termination date, and in such event, this Plan shall continue in effect for the purpose of repaying such bonds or other obligations until the date of retirement of such bonds or other obligations. IX. [ §900] PROCEDURE FOR AMENDMENT This Plan may be amended by means of the procedure established in Sections 33354.6 and /or 33450 et seq. of the Community Redevelopment Law or by any other procedure hereafter established by law. Redevelopment Plan for the Rancho Laguna Redevelopment Project No. III Keyser Marston Associates, Inc. For the Redevelopment Agency of the City of Lake Elsinore Page 26 PA0808005.LE:PA:gbd 15190.005.004/11/24/08 ATTACHMENT NO. 1 LEGAL DESCRIPTION OF THE PROJECT AREA BOUNDARIES LEGAL DESCRIPTION OF THE RANCHO LAGUNA REDEVELOPMENT PROJECT NO. Ill PROJECT AREA BOUNDARIES All those certain tracts and parcels of land situate, lying and being in the City of Lake Elsinore, County of Riverside, State of California, more particularly described as follows: Parcel No. 1 Beginning at the intersection of the northwesterly boundary of Area B of the Rancho Laguna Redevelopment Project No. 11 with the southwesterly boundary of the City of Lake Elsinore Incorporated City Limits as same existed on January 1, 1937; thence northwesterly, southwesterly, northwesterly, northeasterly and northwesterly along said southwesterly boundary of said City of Lake Elsinore, through all those various courses defining said City Limits, to its intersection with the northeasterly prolongation of the northwesterly right -of- way line of Perret Boulevard; thence northeasterly, in a direct line, to the intersection of the southwesterly boundary of City of Lake Elsinore's Rancho Laguna Redevelopment Project with the southwesterly prolongation of the centerline of Spring Street; thence southeasterly and northeasterly along said Rancho Laguna Redevelopment Project boundary to its intersection with the westerly boundary of said Area B of Rancho Laguna Redevelopment Project No. II; thence in a general southeasterly direction along said westerly boundary of Area B of Rancho Laguna Redevelopment Project No. II through all its various courses, to the point of beginning. Contains approximately 1886 acres. Parcel No. 2 Beginning at the centerline intersection of Corydon Street and Union Avenue; said interesection also being the most southerly corner of the Lake Elsinore city boundary as same existed on January 1, 1987; thence North 53 ° 30'30" West 2,672.57 feet along the southwesterly line of said city boundary, said boundary also being the southwesterly line of Lots 18 and 16 in Block "E" of Rancho La Laguna as per map filed in Book 6, Page 296, of Maps, Records of San Diego County, to the centerline of Skylark Drive as shown on Parcel Map 7776, recorded in Book 29, Page 89, of Parcel Maps, in the office of the County Recorder of Riverside County, said point being the southwesterly corner of paid Lot 16; thence along said southwesterly line, the centerline of Skylark Drive, North 36 38'06" East, 1,321.73 feet, to the northerly corner of said lot 16 and angle point in said southwesterly line; thence easterly along the northerly lines of said lots 16 and 18, 2,671.30 feet to its intersection with said centerline of Corydon Street; said centerline also being the southeasterly city boundary; thence along said centerline of Corydon Street and city boundary South 36 ° 3 4 '48" West, 1,320.78 feet to the point of beginning. Contains approximately 84.5 acres. Parcel No. 3 Beginning at the angle point at the northwesterly terminus of that certain course in the northeasterly boundary of the City of Lake Elsinore's Rancho Laguna Redevelopment Project having a bearing of "North 43 ° 39' West, 667.45 feet ", said terminus being a point on -41- the southwesterly right -of -way line of the Corona Freeway; thence southerly, westerly, and northerly along said northeasterly boundary through all its various courses, to its intersection with said southwesterly right -of -way line of the Corona Freeway, said intersection being at the northerly terminus of that certain course bearing "North 18 30' East, 1145 feet, more or less" of said northeasterly boundary; thence southeasterly along said southwesterly right -of -way line of the Corona Freeway, through all its various courses to the point of beginning. Contains approximately 466 acres. Parcel No. 4 Beginning at the most westerly corner of the City of Lake ' Elsinore's Rancho Laguna Redevelopment Project; thence southeasterly, southerly and northwesterly along the southwesterly, westerly, and northeasterly boundary of said Rancho Laguna Redevelopment Project, through all its various courses, to its angle point at the intersection of the north line of Heald Avenue, 80 feet wide, with the west line of Chaney Drive, 60 feet wide, said angle point also being a point on the northeasterly boundary of Area A of the City of Lake Elsinore's Rancho Laguna Redevelopment Project No. II; thence northwesterly along said northeasterly boundary, through all its various courses, to its angle point at the intersection of the northeasterly line of Lash Avenue, 60 feet wide, with a line that is parallel and 60.00 feet southeasterly, with the easterly line of \Vise Street, 30 feet wide; thence continuing northwesterly along said northeasterly line of Lash Avenue and its northwesterly prolongation, to its intersection with the southerly prolongation of the west line of Pierce Street, 60 feet wide; thence northerly along said southerly prolongation to the point of beginning. Contains approximately 1104 acres. • -42- • ATTACHMENT NO. 2 PROJECT AREA MAP -, o I� , m o CD 1 1 I o . 00 dm 0 o n N 0 73 0. o a? '. Lake ., c rD a . x = O Q Grand 0 Zi o -° m \ • \ 1 — 1 I m CD "' N d y \l t 1 1 N 3 o 03 - m d i N ' ( .o , a xi Q o • - m c 1 / i A /' \N ' D S o / 0 0) g iK • m w' - Z m 1 `\ // h / '' \ c co fa 3 5 \\ `Pl \ o \ \ M N 'V ■ Z K p r - ` ' o N N fl \ 1 t // _ I x � . r • , _ i / m / � - /� 0 / o / , . , Ilk ' P O i Q 0 . b A'lai 1 1 — I m 1 • E / 00 i 1 -, s 0 / �� i , { 1 i I o / / / 1 I / 1 i i g ^- a uoissry� ® 1 �� 3 1 r 1 z ` 1 1 0 1 i 1, ',.. 1 �1 ; 1 1 ATTACHMENT NO. 3 LAND USE MAP X01 0 1 „ 0= PO m a ma. _ () ? m m o o O v a Grand Lake r y 4 � � 3 y_ m. a F F o, N N CD K co 3 O w a °-° w °-' m w m. m c m / u) i a- n, m a a m 3 • fD 7 d.o H m a 3 ? �e n� N w m m _ m = I / ch D r Nw d w ♦ d i 3 N - , " , / J mo o / Y . .Z) CD ! 1 U1 : U f . e. z� r o m p ,ppe N •G fP 5 N n O 4 P. i d?^ Y w o 3 a m o B. m ai M--0�- Z m n x r'fy ` . (1 o s -, ; CD / m rn m % -- o _ N / l m /- O . s • ar m % , 14 1 1 1 # . / ,/ li b a 4 � % o• / 1,:W.''.,:,, ri - 11,' , ,,.`'-' f -,,, / b oo ' ' a e "i? a7 ' i 1. .. {ry m 4N y / / „ a.,,,,„ '''''' '' - V .Q ---<< Ua ss w o C3 All o / • f • _' e1 ATTACHMENT NO. 4 PROPOSED PUBLIC IMPROVEMENTS LIST ATTACHMENT NO. 4 POTENTIAL PUBLIC IMPROVEMENTS Rancho Laguna Project Area No. III As described in Sections 332 and 333 of the original redevelopment plan, the Agency may provide public improvements including but not limited to, pedestrian walkways, bikeways, streets, curbs, gutters, sidewalks, street lights, sewers, storm drains, traffic signals, electrical distribution systems, water distribution systems, wastewater treatment facilities, parks, plazas, and playgrounds. Projects specifically proposed by the Agency included, but are not limited to the following: 1. Parking Improvements Acquire and construct off - street parking facilities to accommodate existing demand and improve circulation on Main Street 2. Street Construction (Reconstruction) a) Construct streets in the "Heights" and "Avenues" including grade separations b) Reconstruct streets in the Avenues 3. Flood Control Assist in the development of the dyke across the flood plain 4. Sidewalk Repairs Construct sidewalks to and within the "Avenues" and "Heights" 5. Undergrounding Utilities Undergrounding utilities to and within the "Avenues" 6. Parks and Recreation a) Acquire properties and construct recreational facilities for the residents b) Assist in the financing and development of commercial recreational facilities adjacent to the lake 7. Streetscape, Plazas. and Crosswalks Provide street furniture (benches, trash receptacles, etc.), landscaping, public plazas, and thematic crosswalks to improve the aesthetic environment of the Project Area. Also to provide handicapped access. 1 8. Parkways and Medians a) Provide for the construction and landscaping of parkway strips and median areas. b) Provide for the construction of traffic control structures such as channelized medians and parkway tum lanes. 9. Sewer Facilities a) Install needed lifts for hillside development in the "Heights" and "Avenues" b) Extend sewer lines throughout the Project Area 10. Water Facilities a) Replace undersized lines at various locations which result in low fire flows b) Add necessary booster pumps to increase fire flows c) Extend water lines throughout the Project Area 11. Public Buildings and Facilities Construct necessary public buildings and facilities as may be needed to serve the Project Area and carry out the Plan including but not limited to, additional fire stations, a municipal corporation year, community centers, senior centers, emergency medical facilities, and other public safety and social service facilities as may be needed to aid the Project Area population. 2