HomeMy WebLinkAboutOB Reso No 2016-005 Compensation Agreement Future DevelopmentRESOLUTION NO. 2016 -005
A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
APPROVING (1) THE FORM OF A COMPENSATION AGREEMENT PURSUANT
TO HEALTH & SAFETY CODE SECTION 34180(f); AND (2) TRANSFER OF
CERTAIN PROPERTIES BY THE SUCCESSOR AGENCY TO THE CITY OF LAKE
ELSINORE FOR FUTURE DEVELOPMENT
WHEREAS, Oversight Board ( "Oversight Board ") to the Successor Agency to the Redevelopment
Agency of the City of Lake Elsinore ( "Successor Agency ") has been established to oversee the
wind down of the affairs of the former Redevelopment Agency of the City of Lake Elsinore (the
"Agency ") in accordance with the California Health and Safety Code Section 34179; and,
WHEREAS, the Successor Agency is the owner of certain real property located at Silver and
Minthorn and certain properties on Spring at Lakeshore in the City of Lake Elsinore ( "City ")
(collectively, "Agency Property "); and,
WHEREAS, on June 29, 2011, the Legislature of the State of California (the "State ") adopted
Assembly Bill x1 26 ( "AB 26 "), which amended provisions of the State's Community
Redevelopment Law (Health & Safety Code sections 33000 et seq.); and,
WHEREAS, pursuant to AB 26 and the California Supreme Court decision in California
Redevelopment Association, et al. v. Ana Matosantos, et al., which upheld AB 26 (together with
AB 1484, as amended to date, the "Dissolution Law "), the former Agency was dissolved on
February 1, 2012; and,
WHEREAS, pursuant to the Dissolution Law, ownership of the Agency Property was transferred
to the Successor Agency for disposition in accordance with the Dissolution Law; and,
WHEREAS, pursuant to the Dissolution Law, the Successor Agency prepared a Long Range
Property Management Plan ( "LRPMP "), which was approved by a resolution of the Oversight
Board; and,
WHEREAS, applicable law permits the Agency Property to be conveyed by the Successor
Agency to the City for further redevelopment activities by the City consistent with the
Redevelopment Plan, and requires that such conveyance to the City shall occur upon the full
execution of a compensation agreement (the "Compensation Agreement ") between the City and
the affected taxing entities (as listed in the Compensation Agreement, the "Taxing Entities ") for
the distribution of net funds received, if any, from the sale of the Agency Property. Such
agreement is entitled "Compensation Agreement Pursuant to Health & Safety Code 34180(f)
Regarding Successor Agency Transfer of Property to the City of Lake Elsinore ( "Compensation
Agreement ") and is attached hereto and incorporated herein as Exhibit A; and,
WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred.
NOW, THEREFORE, THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE
REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE,
DETERMINE AND ORDER AS FOLLOWS:
OB Resolution No. 2016 -005
Page 2
SECTION 1. The Recitals set forth above are true and correct and incorporated herein by
reference.
SECTION 2. The Oversight Board hereby approves the form of the Compensation Agreement in
substantially the form attached hereto as Exhibit A.
SECTION 3. Upon full execution of the Compensation Agreement by the Taxing Entities and the
City, the Oversight Board authorizes the Successor Agency to convey the Agency Property to the
City by grant deed and to take any other action and execute any documents as may be necessary
to implement the conveyance of the Property to the City, pursuant to Health and Safety Code
section 34181, subdivision (a)
SECTION 4. If any provision of this Resolution or the application thereof to any person or
circumstance is held invalid, such invalidity shall not affect other provisions or applications of this
Resolution which can be given effect without the invalid provision or application, and to this end
the provisions of this Resolution are severable. The Oversight Board hereby declares that it would
have adopted this Resolution irrespective of the invalidity of any particular portion thereof.
SECTION 5. Pursuant to Health and Safety Code Section 34179(h), this Resolution shall be
effective five (5) business days after proper notification hereof is given to the California
Department of Finance unless the California Department of Finance requests a review of the
actions taken in this Resolution, in which case this Resolution will be effective upon approval by
the California Department of Finance.
PASSED AND ADOPTED at a Special meeting of the Oversight Board to the Successor Agency
of the Redevelopment Agency of the City of Lake Elsinore, held this 7th day of July, 2016.
etie Kelley, Chairperson
ATTEST:
usan M. Domen, MMC^
Clerk
OB Resolution No. 2016 -005
Page 3
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Susan M. Domen, Clerk of the Oversight Board of the City of Lake Elsinore, California, hereby
certify that Resolution No. OB- 2016 -005 was adopted by the Oversight Board to the Successor
Agency of the Redevelopment Agency of the City of Lake Elsinore, California, at a Special
meeting held on the 7th day of July 2016, and that the same was adopted by the following vote:
AYES: Board Members Jeffries, Lassey, M. Williams and P. Williams, and Chair Kelley
NOES: None
ABSENT: Board Member Tisdale
ABSTAIN: None
Susan M. Domen, MMC
Clerk of the Oversight Board