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HomeMy WebLinkAbout07-06 RDA Resolution o o o RESOLUTION NO. RDA 07-06 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA APPROVING AN OWNER PARTICIPATION AGREEMENT, A GROUND SUBLEASE FOR THE EAST PARKING FACILITY, AND A PARKING MANAGEMENT AGREEMENT FOR THE EAST PARKING FACILITY THE BOARD OF DIRECTORS OF THE TEMECULA REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA DOES HEREBY RESOLVE AS FOLLOWS: that: Section 1. Findinas. The Agency hereby finds, determines and declares A. The Redevelopment Agency of the City of Temecula ("Agency") is a community redevelopment agency duly organized and existing under the Community Redevelopment Law ("CRL"), Health and Safety Code Sections 33000 et seq., and has been authorized to transact business and exercise the powers of a redevelopment agency pursuant to action of the City Council of the City of Temecula. B. On June 12, 1988, the Board of Supervisors of the County of Riverside adopted Ordinance No. 658 adopting and approving the "Redevelopment Plan for Riverside County Redevelopment Project No. 1988-1" (hereafter the "Plan") in accordance with the provisions of the CRL. On December 1, 1989, the City of Temecula was incorporated. The boundaries of the Project Area described in the Plan (the "Project Area") are entirely within the boundaries of the City of Temecula. On April 9, 1991, the City Council of the City of Temecula adopted Ordinances Nos. 91-08, 91- 11, 91-14, and 91-15 establishing the Redevelopment Agency of the City of Temecula and transferring jurisdiction over the Plan from the County to the City. Pursuant to Ordinance Nos. 91-11 and 91-15, the City of Temecula and the Redevelopment Agency of the City of Temecula assumed jurisdiction over the Plan as of July 1, 1991. C. The Owner Participation Agreement, Ground Sublease for Promenade Mall East Parking Facility, and Parking Management Agreement (the "Agreements") provide for the lease or sublease of property, the purchase and sale of a parking facility, and the management and operations of a parking facility which is proposed to be constructed near the Promenade Mall and which has been approved for construction by the City of Temecula Planning Commission by Resolution No. 07-10 (the "East Parking Facility"). D. Pursuant to provisions of the Community Redevelopment Law (California Health and Safety Code Section 33000, et seq.), and in particular Sections 33390, 33391 and 33445 thereof, and the Plan, and in particular Sections 200, 300, 310, 321, R:/RDA Resas 2007/RDA 07-06 o o o 344, and 355 thereof, the Agency proposes to purchase the completed the East Parking Facility for public parking. E. The East Parking Facility is of benefit to the Project Area. Construction and purchase of the East Parking Facility will benefit the Project Area in that the East Parking Facility will: (1) provide for public service infrastructure, specifically parking facilities, as identified in the proceedings and the Redevelopment Plan; (2) promote the preservation and enhancement of the commercial areas within the Project Area in accordance with the goals and objectives of the Redevelopment Plan; (3) promote the expansion of the Project Area's commercial base and local employment opportunities in accordance with the goals and objectives of the Redevelopment Plan; (4) assist in the continued development of the Project Area surrounding the East Parking Facility as a tourist destination with shopping, entertainment and dining facilities, and enhancement of the tourist industry as a major economic force within the Community and the Project Area; (5) upgrades to the physical appearance of the Project Area; (6) encourages investment in the Project Area by the private sector; and (7) contribute to enhanced short term and long term employment opportunities in the Project Area, including, without limitation, the providing of jobs to the unemployed and underemployed workers. F. Construction and installation of the East Parking Facility will assist in the elimination of blight in the Project Area as identified in the proceedings establishing the Project Area and the Implementation Plan for the Project Area adopted in December 2004, pursuant to Health and Safety Code Section 33490, in that the East Parking Facility will: (1) provide for public service infrastructure, specifically parking facilities, as identified in the proceedings and the Redevelopment Plan; (2) promote the preservation and enhancement of the commercial areas within the Project Area in accordance with the goals and objectives of the Redevelopment Plan; (3) promote the expansion of the Project Area's commercial base and local employment opportunities in accordance with the goals and objectives of the Redevelopment Plan; (4) assist in the continued development of the Project Area surrounding the East Parking Facility as a tourist destination with shopping, entertainment and dining facilities, and enhancement of the tourist industry as a major economic force within the Project Area; (5) upgrades to the physical appearance of the Project Area; (6) encourages investment in the Project Area by the private sector; and (7) contribute to enhanced short term and long term employment opportunities in the Project Area, including, without limitation, the providing of jobs to the unemployed and underemployed workers. G. No other reasonable means of financing the East Parking Facility are available to the City. The prudent budget constraints of the City prevent the City from financing the proposed East Parking Facility by any means. No moneys of the City are available to pay for the cost of the East Parking Facilities. The City has allocated undesignated funds in its reserves for other necessary public improvements, including high priority traffic, roadway, interchange, flood control, and public improvement projects which cannot be funded with Agency funds or other special funds. Developer will not fund public parking spaces, only parking spaces limited to patrons of the Promenade Mall. Traditional methods of financing the East Parking Facility, such as the issuance of R:IRDA Resos 2007IRDA 07-06 2 o o o general obligation bonds, are unavailable as a practical matter because of the extraordinary majority voter. approval requirements of two-thirds of the electorate. Assessment financing or special tax financing of the East Parking Facility could overburden benefiting properties with assessments or special taxes and, in addition, special taxes and assessments require a two-thirds vote. Additionally, other financing mechanisms are committed to the development of the proposed City Hall in the Old Town area. H. Prior to the adoption of this Resolution, the City Council of the City of Temecula adopted Resolution No. 07-63, and the Agency adopted Resolution No. 07- 05, making certain findings required by Health & Safety Code Section 33445 and approving the Agency's use of tax increment funds for the purposes set forth in this Resolution. I. The construction and purchase of the East Parking Facility are consistent with the Agency's Implementation Plan adopted in December 2004, pursuant to Health and Safety Code Section 33490, for the reasons cited in this Resolution. J. The Agency Board has duly considered all terms and conditions of the proposed Agreements and believes that the Agreements are in the best interests of the Agency and City and the health, safety, and welfare of their residents, and in accord with the public purposes and provisions of applicable State and local law requirements. K. The Agreements pertain to and affect the ability of all parties to finance and carry out their statutory purposes and to accomplish the goals of the Plan and each of them is intended to be a contract within the meaning of Government Code Section 53511. L. All legal prerequisites to the adoption of this Resolution have occurred. Section 2. Environmental Determinations. A. In approving the First Amendment to the Development Agreement for the Promenade Mall on December 17, 2006, the City Council found that the Mall Expansion (as defined therein) does not require the preparation of a subsequent Environmental Impact Report or Mitigated Negative Declaration as none of the conditions described in Section 15162 ofthe CEQA Guidelines (14 Cal. Code Regs. 15162) exist. B. Specifically, the City Council found that the Mall Expansion does not involve significant new effects, does not change the baseline environmental conditions, and does not represent new information of substantial importance which shows that the Mall Expansion will have one or more significant effects not previously discussed in the FEIR and Addendum. The Development Agreement provides that the Developer has vested rights to proceed with the Mall Expansion. All potential environmental impacts associated with the Mall Expansion are adequately addressed by the prior FEIR and the Addendum approved as part of the extension of the Development Agreement. Any R:/RDA Resos 2007/RDA 07-06 3 o o o impacts conceming aesthetics, agricultural resources, air quality, biological resources, cultural resources, geology and soils, hazards and hazardous materials, hydrology and water quality, land use and planning, mineral resources, noise, population and housing, public services, recreation, transportationltraffic, utilities and service systems, were all studied as part of the FEIR and Addendum. The prior approvals of the Development Agreement and the extension of the term of the Development Agreement by the First Amendment to the Development Agreement based on the FEIR and Addendum establish that the mitigation measures contained in the FEIR and the terms of the Development Agreement will reduce those impacts to a level that is less than significant. The Application for PA 06-0293 is the vehicle by which the City confirms that the standards and requirements established in the Development Agreement for the Developer's vested right to construct the Mall Expansion have been properly implemented and does not provide for any new structures or uses not fully contemplated and addressed in the Development Agreement. C. Although not required as part of the CEQA review, the City Council also reviewed a Supplemental Traffic Analysis for the Promenade Mall Expansion, prepared by RBF Consulting which determined "that cumulative trip generation estimated for the approved Promenade Mall/Power Center I and II, Costco, Bel Villagio/Overland Corporate Center, and proposed Promenade Mall Expansion project falls within the Specific Plan total included in the original EIR Traffic Study previously approved by the City." The analysis concluded that "the Promenade Mall Expansion project, as currently proposed, is consistent with the original Temecula Regional Center Specific Plan EIR Traffic Study". In addition to the mitigation measures incorporated into the Mall Expansion by the FEIR, the Specific Plan and the City's General Plan, the City entered into a Settlement Agreement with the County of Riverside, dated as of May 2005, in which the County has agreed to required development in the 1-215 Area to become part of a fully and funded Community Facilities District for the construction of various roadways designed to reduce the traffic on Winchester Road. D. The Planning Commission also reviewed these CEQA findings in its consideration of the Mall Expansion and adoption of Resolution No. 07-10. E. The recommended actions implement the previous approvals for the Mall Expansion without any modification of those approvals. The recommended actions provide the financial means by which the improvements will be constructed. Section 3. Aooroval of OPA. The Board of Directors of the Redevelopment Agency of the City of Temecula hereby approves that certain agreement entitled "Owner Participation Agreement" by and between the Redevelopment Agency of the City of Temecula ("Agency) and Temecula Town Center Associates, LP, a California limited partnership, and/or F.C. Temecula, Inc., a California corporation (collectively "Developer"), with such changes in such Owner Participation Agreement as may be mutually agreed upon by the Developer and the Agency Executive Director as is in substantial conformance with the form of such Owner Participation Agreement which is on file in the Office of the Agency Secretary. The Chairperson of the Agency is hereby R:/RDA Reses 2007/ROA 07-06 4 o o o authorized to execute the Owner Participation Agreement, including related exhibits and attachments on behalf of the Agency. A copy of the final Owner Participation Agreement when executed by the Agency Chairperson shall be placed on file in the Office of the Secretary of the Agency. Section 4. Aooroval of Ground Sublease. The Board of Directors of the Redevelopment Agency of the City of Temecula hereby approves that certain agreement entitled "Ground Sublease for Promenade Mall East Parking Facility" by and between the Agency and FC Temecula, Inc., with such changes in such Ground Sublease as may be mutually agreed upon by Fe Temecula, Inc. and the Agency Executive Director as is in substantial conformance with the form of such Ground Sublease which is on file in the Office of the Agency Secretary. The Chairperson of the Agency is hereby authorized to execute the Ground Sublease, including related exhibits and attachments on behalf of the Agency. A copy of the final Ground Sublease when executed by the Agency Chairperson shall be placed on file in the Office of the Secretary of the Agency. Section 5. Aooroval of Parkina Manaaement Aareement. The Board of Directors of the Redevelopment Agency of the City of Temecula hereby approves that certain agreement entitled "Parking Management Agreement" by and between the Agency and Developer, with such changes in such Parking Management Agreement as may be mutually agreed upon by the Developer and the Agency Executive Director as is in substantial conformance with the form of such Parking Management Agreement which is on file in the Office of the Agency Secretary. The Chairperson of the Agency is hereby authorized to execute the Acquisition Agreement, including related exhibits and attachments on behalf of the Agency. A copy of the final Parking Management Agreement when executed by the Agency Chairperson shall be placed on file in the Office of the Secretary of the Agency. Section 6. Executive Director's Authoritv. The Executive Director of the Agency (or his designee), is hereby authorized, on behalf of the Agency, to take all actions necessary and appropriate to carry out and implement the Owner Participation Agreement, Ground Sublease for Promenade Mall East Parking Facility, and Parking Managem;nt Agreement, and to administer the Agency's obligations, responsibilities and duties to be performed under the said agreements, including but not limited to, approval and execution on behalf of the Agency of the Acquisition Agreement described and authorized in the Owner Participation Agreement, escrow instructions, acceptances, certificates, certificates of completion and such other implementing agreements and documents as contemplated, necessary or described in the Agreements. . Section 7. Certification. The Secretary of the Agency shall certify the adoption of this Resolution. R:IRDA Reses 20071RDA 07.06 5 o PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Temecula Redevelopment Agency of the City of Temecula this 24th day of July, 2007. ATTEST: lJ ~ [SEAL] o STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, MMC, City Clerk/Board Secretary of the Temecula Redevelopment Agency of the City of Temecula, do hereby certify that the foregoing Resolution No. RDA 07-06 was duly and regularly adopted by the Board of Directors of the Temecula Redevelopment Agency of the City of Temecula at a meeting thereof held on the 24th day of July, 2007, by the following vote: AYES: 5 BOARD MEMBERS: Comerchero, Naggar, Roberts, Washington, Edwards NOES: 0 ABSENT: 0 ABSTAIN: 0 BOARD MEMBERS: BOARD MEMBERS: BOARD MEMBERS: None None None o Susan . Jones, MMC City Clerkl oard Secretary R:/ROA Resos 20071RDA 07-06 6