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Home My WebLink About092513 OB SARDA Agenda In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the office of the City Clerk (951) 694-6444. Notification 48 hours prior to a meeting will enable the City to make reasonable arrangements to ensure accessibility to that meeting [28 CFR 35.102.35.104 ADA Title II]. MEETING NOTICE/AGENDA OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY REGULAR MEETING COUNCIL CHAMBERS 41000 MAIN STREET SEPTEMBER 25, 2013 — 6:30 PM Next in Order: Resolution: 13-04 CALL TO ORDER: John Meyer, Chairperson Roll Call: Meyer, Thornhill, Gonzalez, Kelliher, Ordway-Peck, Sparkman, Turner PUBLIC COMMENTS A total of 15 minutes is provided so members of the public may address the Board on items that are not listed on the Agenda. Speakers are limited to three minutes each. If you desire to speak to the Board about an item not on the Agenda, a salmon colored "Request to Speak" form should be filled out and filed with the Board Secretary. When you are called to speak, please come forward and state your name for the record. For all other agenda items a"Request to Speak" form must be filed with the Board Secretary prior to the Board addressing that item. There is a three-minute time limit for individual speakers. NOTICE TO THE PUBLIC All matters listed under Consent Calendar are considered to be routine and all will be enacted by one roll call vote. There will be no discussion of these items unless Members of the Oversight Board request specific items be removed from the Consent Calendar for separate action. . ;„ : CONSENT CALENDAR 1 Minutes RECOMMENDATION: 1.1 Approve the Minutes of June 12, 2013 1 BOARD BUSINESS 2 Make a Findinq that the 6 ih Street Promissorv Note between the Citv of Temecula and the former Temecula Redevelopment Aqencv was for leqitimate redevelopment purposes. RECOMMENDATION: 2.1 Adopt a resolution entitled: RESOLUTION NO. OB SARDA 13- A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY MAKING A FINDING, PURSUANT TO HEALTH AND SAFETY CODE 34191.4 (B) (1), THAT THE PROMISSORY NOTE BETWEEN THE CITY OF TEMECULA AND THE FORMER TEMECULA REDEVELOPMENT AGENCY WAS FOR LEGITIMATE REDEVELOPEMENT PURPOSES. 3 Adopt Recoqnized Obliqation Payment Schedules for the period of July 1, 2013 throuqh December 31, 2013. (ROPS 13-14A) RECOMMENDATION: 3.1 Adopt a resolution entitled: RESOLUTION NO. OB SARDA 13- A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1, 2013 THROUGH DECEMBER 31, 2013 PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH 4 Adopt the Lonq Range Propertv Manaqement Plan and transmittal of the Lonq Ranqe Propertv Manaqement Plan on Accordance with Health and Safety Code 34191.5 RECOMMENDATION: 4.1 Adopt a resolution entitled: RESOLUTION NO. OB SARDA 13- A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING THE LONG-RANGE PROPERTY MANAGEMENT PLAN PREPARED BY THE SUCCESSOR AGENCY PURSUANT TO HEALTH AND SAFETY CODE 2 SECTION 34191.5, DETERMINING THAT APPROVAL OF THE LONG RANGE PROPERTY MANAGEMENT PLAN IS EXEMPT FROM THE CALIFORNIA ENVIRONMENTAL QUALITY ACT, AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH ADJOURNMENT Next regular meeting: Wednesday, October 9, 2013, 6:30 PM, Council Chambers, 41000 Main Street, Temecula, California. ��(�3 � � O� Date Susan . Jones, MC ard cretary NOTICE TO THE PUBLIC The Agenda will be available for viewing, prior to the meeting, at the Main Reception at City Hall — 41000 Main Street, Temecula, 8:00 — 5:00 PM as well as on the City's website — www.cityoftemecula.orq. Any staff report/written material pertaining to this meeting will be available, prior to the meeting, for public review at the Main Reception and at the respective meeting. Any Supplemental Material distributed to a majority of the Committee Members regarding any item on the Agenda, after the posting of the Agenda, will be available for public review at the Main Reception. In addition, such material will be made available for review at the respective meeting. If you have any questions regarding any item of business on the Agenda for this meeting, please contact City Hall — 951-694-6444. 3 en a em . inutes o une � ACTION MINUTES OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY REGULAR MEETING COUNCIL CHAMBERS 41000 MAIN STREET JUNE 12, 2013 — 6:30 PM Next in Order: Resolution: 13-02 CALL TO ORDER: John Meyer, Chairperson Roll Call: Meyer, Thornhill, Gonzalez, Kelliher, PUBLIC COMMENTS NO SPEAKERS NOTICE TO THE PUBLIC All matters listed under Consent Calendar are considered to be routine and all will be enacted by one roll call vote. There will be no discussion of these items unless Members of the Oversight Board request specific items be removed from the Consent Calendar for separate action. CONSENT CALENDAR 1 Minutes RECOMMENDATION: 1.1 Approve the Minutes of February 27, 2013 APPROVED BY A 4-0 VOTE. VOTE REFLECTED UNANIMOUS APPROVAL. BOARD BUSINESS 2 Election of Chair Person and Vice Chair Person 2.1 Entertain motions from the Board of Directors to appoint the Chair Person, effective June 13, 2013, to preside until June 13, 2014. 2.2 Entertain motions from the Board of Directors to appoint the Vice Chair Person, effective June 13, 2013, who will assume the duties of the Chair Person in the Chair Person's absence, and hold this office until June 13, 2014 BOARD MEMBER MEYER WAS NOMINATED TO SERVE AS CHAIR PERSON. BOARD MEMBER THORNHILL WAS NOMINATED TO SERVE AS VICE CHAIR PERSON. APPROVED BY A 4-0 VOTE. VOTE REFLECTED UNANIMOUS APPROVAL. 1 3 Adopt Proposed Administrative Budgets for the Successor Actencv to the Temecula Redevelopment Aaency Pursuant to Health and Safedtv Code Section 34177 APPROVED BY A 4-0 VOTE. VOTE REFLECTED UNANIMOUS APPROVAL. RECOMMENDATION: 3.1 Adopt a resolution entitled: OB SARDA RESOLUTION NO. 13- A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING PROPOSED ADMINISTRATIVE BUDGETS PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH 2 ADJOURNMENT Next regular meeting: Wednesday, October 9, 2013, 6:30 PM, in the Council Chambers, 41000 Main Street, Temecula, California. Gary Thornhill Vice Chairperson Aaron Adams Executive Director ATTEST: Susan W. Jones, MMC Agency Secretary/City Clerk 3 en a em th • treet rom �ssor ote OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY AGENDA REPORT TO: Executive Director/Board of Directors FROM: Patrick Richardson, Director of Community Development for the Successor Agency to the Temecula Redevelopment Agency DATE: September 25, 2013 SUBJECT: MAKE FINDING THAT THE 6 T " STREET PROMISSORY NOTE BETWEEN THE CITY OF TEMECULA AND THE FORMER REDEVELOPEMENT AGENCY WAS FOR LEGITIMATE REDEVELOPMENT PURPOSES. PREPARED BY: Luke Watson, Senior Planner for the Successor Agency to the Temecula Redevelopment Agency RECOMMENDATION: Adopt a resolution entitled: RESOLUTION NO. OB SARDA 13- A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY MAKING A FINDING, PURSUANT TO HEALTH AND SAFETY CODE 34191.4 (B) (1), THAT THE PROMISSORY NOTE BEWTEEN THE CITY OF TEMECULA AND THE FORMER TEMECULA REDEVELOPMENT AGENCY WAS FOR LEGITIMATE REDEVELOPEMENT PURPOSES. BACKGROUND: Per AB X1 26, upon receiving a Finding of Completion (FOC) from the State Department of Finance (DOF) a successor agency may place loan agreements entered into between a redevelopment agency and the city, county, or city and county that created the redevelopment agency shall be deemed to be enforceable obligations provided that the Oversight Board makes a finding that the loan was for legitimate redevelopment purposes. On April 26, 2013 the Successor Agency to the Temecula Redevelopment Agency (SARDA) received a FOC from the DOF. On March 12, 1996 the Temecula Redevelopment Agency approved a promissory note (the Note) in favor of the City of Temecula in the amount of $918,171 for the conveyance of the 6` Street parking lot (APN: 922-023-021) from the City to the Agency. The note had a term of five years bearing interest at the prime rate. The note was extended by the City Council in 2002, 2006 & 2008. The note currently is set to expire December 13, 2013 unless extended by the City Council and Successor Agency to the Temecula Redevelopment Agency. The former Temecula Redevelopment Agency's purpose for issuing the note was to acquire the subject property for the creation and maintenance of a public parking lot located with the redevelopment project area No1-1988. While Health and Safety Code Section 34191.4 (b)(1) does state that the Oversight Board can make a finding that loan agreements were entered into for legitimate redevelopment purposes, it does not define what "legitimate" redevelopment purposes are. A definition of Redevelopment purposes can be found in the following Health and Safety code sections: H&SC 33020 "Redevelopment" means the planning, development, re-planning, redesign, clearance, reconstruction, or rehabilitation, or any combination of these, of all or part of a survey area, and the provision of those residential, commercial, industrial, public, or other structures or spaces as may be appropriate or necessary in the interest of the general welfare, including recreational and other facilities incidental or appurtenant to them and payments to school and community college districfs in the fiscal years specified in Sections 33681, 33681.5, 33681.7, 33681.9, and 33681.12. H&SC 33021: Redevelopment includes: (a) The alteration, improvement, modernization, reconstruction, or rehabilitation, or any combination of these, of existing structures in a project area. (b) Provision for open-space types of use, such as streets and other public grounds and space around buildings, and public or private buildings, structures and improvements, and improvements of public or private recreation areas and other public grounds. (c) The re-planning or redesign or original development of undeveloped areas as to which either of the following conditions exist (1) The areas are stagnant or improperly utilized because of defective or inadequate street layout, faulty lot layout in relation to size, shape, accessibility, or usefulness, or for other causes. (2) The areas require re-planning and land assembly for reclamafion or development in the interest of the general welfare because of widely scattered ownership, tax delinquency, or other reasons. H&SC 33022: Redevelopment does not exclude the continuance of existing buildings or uses whose demolition and rebuilding or change of use are not deemed essential to the redevelopment and rehabilitation of the area. H&SC 33391: Within the survey area or for purposes of redevelopment an agency may: (a) Purchase, lease, obtain option upon, acquire by gift, grant, bequest, devise, or otherwise, any real or personal property, any interest in property, and any improvements on it, including Re-purchase of developed property previously owned by the agency. (b) Acquire real property by eminent domain. Upon the Oversight Board Board's action to find that the note was for legitimate redevelopment purposes, the Successor Agency will place the note on the Recognized Obligation Payment Schedule as an approved enforceable obligation. This will allow SARDA to repay the City the amount owed under the terms of the note as modified by Health and Safety Code Section 34191.4 (a)(2). FISCAL IMPACT: The original face value of the note was $918,171. Per AB X1 26 and AB 1485 the outstanding balance of the note was to be recalculated at the rate being offered by the Local Agency Investment Fund (LAIF) during the term of the Note, and repayment is to occur over a reasonable timeframe. Based on these criteria the outstanding balance of the Note is $723,118 and the repayment will take place over the next three (3) fiscal years. The decision to make the term three (3) years was due to the fact that the former Redevelopment Agency had already made two (2) of five (5) annual payments and had only three (3) annual payments left unti� the debt was retired. ATTACHMENTS: Resolution 13- 6 Street Promissory Note California Department of Finance Finding of Completion Letter, dated April 26, 2013 RESOLUTION NO. OB SARDA 13- A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY MAKING A FINDING, PURSUANT TO HEALTH AND SAFETY CODE 34191.4 (B) (1), THAT THE PROMISSORY NOTE BEWTEEN THE CITY OF TEMECULA AND THE FORMER TEMECULA REDEVELOPMENT AGENCY WAS FOR LEGITIMATE REDEVELOPEMENT PURPOSES. THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS: WHEREAS, Pursuant to Part 1.85 of the Community Redevelopment Law (commencing with Health and Safety Code Section 34170) ("Part 1.85"), the Successor Agency to the Temecula Redevelopment Agency ("Successor Agency") is required to undertake a number of actions related to winding down the affairs of the former Redevelopment Agency pursuant to Health and Safety Code Section 34177(h). WHEREAS, The City Council of the City of Temecula adopted Resolution No. 12- 02 January 10, 2012, pursuant to Health and Safety Code Section 34173 and applicable law electing for the City to serve as the Successor Agency for the Temecula Redevelopment Agency upon the dissolution of the Redevelopment Agency of the City of Temecula. The City Council of the City of Temecula, Acting as the Governing Body for the Successor Agency to the Temecula Redevelopment Agency, adopted Resolution No. 12-01 on February 28, 2012 declaring the Successor Agency to the Temecula Redevelopment Agency duly constituted pursuant to law and establishing rules and regulations for the operation of the Successor Agency to the Temecula Redevelopment Agency ("Successor Agency"). NOW, THEREFORE, BE IT RESOLVED by the Oversight Board as follows: Section 1. The Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency does hereby find, determine and declare that: A. The Promissory Note between the City of Temecula and the former Temecula Redevelopment Agency, dated March 12, 1996 and as amended was entered into for legitimate redevelopment purposes per Health and Safety Code Section 34191.4 (b)(1). B. The Promissory Note provided for repayment of reasonable term and interest rate and was accepted as legitimate indebtedness by the State Controller prior to AB X1 26. C. The Promissory Note was established prior to January 1, 2011. Section 2. The Oversight Board finds that the Promissory Note between the City of Temecula and the former Temecula Redevelopment Agency as set forth in Exhibit A attached to this resolution was for legitimate redevelopment purposes and in so finding the Oversight Board finds and determines the Promissory Note is an enforceable obligation and should be recognized as such pursuant to the provisions of AB 1484, including but not limited to Health and Safety Code Section 34191.4. Section 2. This Resolution is adopted pursuant to the Health and Safety Code Section 34191.4. Section 4. The officers and staff of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution, and any such actions previously taken by such officers and staff are hereby ratified and confirmed. Section 5. The Secretary shall certify to the adoption of this Resolution. PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Oversight Board Successor Agency to the Temecula Redevelopment Agency this 25� day of September, 2013. Gary Thornhill, Vice Chairperson ATTEST: Susan W. Jones, MMC City Clerk/Board Secretary STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, MMC, City Clerk/Board Secretary of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency, do hereby certify that the foregoing Resolution No. OB SARDA 13- was duly and regularly adopted by the Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency at a meeting thereof held on the 25' day of September, 2013, by the following vote: AYES: BOARD MEMBERS: NOES: BOARD MEMBERS: ABSENT: BOARD MEMBERS: ABSTAIN: BOARD MEMBERS: Susan W. Jones, MMC City Clerk/Board Secretary Exhibit A Promissory Note �T �AM P$OMISSORY NOTE The Redevelopmcnt A�ency af the Clty of Temecula ("AS�Y") �Y promix�� f� � noaived, bo pay the City Of Teinecula ('City`) tf� ium Of Nine Hundrod Fs��hbeen T7aus�nd One Hundrad Seventy One Dollsn aad NO/100 (S 918,171.00) baiinj �imp�e in� at the nte of the prlma inte�t nte cliar�ed by F'ust Inttr:tabe Barilc of C�lifo�nia ai of the date tWs Nobe. Thia Note and all accn�ed interest dwil be due and paysbk 8ve (� year� i'mm the date of thia Note unle�u ez0ended br mutval wdtton �ramait of the City and A�e�cy wlthout iate,�im payment� by tbe Atency during the term of the Note, provided �st the Agency may enaloe P�� P`Ynunb oz t+cpay the atno�uit of the Note in li�ll priot w the due date witlwut penalty. This Note i� and w111 be wbocdinsla to all e�cistin` debt of tlu Aga�ey and tuch addlti�onal debt as tl�e Atency may incur dutu� tl�e term of thi� Note ind no fund� of tha Agency are pledged to its rcpayment. Tn tha event of a default by the A�eruy� the City sha31 havc ali legal and equitable rernedies available to it w a�foroe the t�erm� of the Note. This Note is made as of March 12, 1996 at Temecula, California. REDBVSLOPMBNP AGENCY OF THE OP TBMECULA �. �� Pa H. Birdsali Chairperaon ATTBS't': S�, �►� � s. are�, cMc Secretary/City Clerk Al'PROVED AS TO FORM� der M. oraon C�a�eral Counael Rew�l96-30,exh PROMISSORY NOTE The Rodevelopment Agency of the City of Temecula ("Agency'� hereby promises, for conaideration recaived, to pay the City of Temocula ("City") the sum o f' One Million Three Hundred Fifty 3even Thousead Five Hun�dred Dollers and NO/l Ot) ($1,357,500.00) bearing simple interest at the rate of the prime interest rated charged bv Union Bank as of the date of this Note. This Note ac� all accnud interest from March 12, 1996 shall be due and payable May 1, 2007 unless extended by mutual written agrceme� of the City and the Agency without interim payments by the Agency during � the term of the Note, provided that the Agenc,y may make pertial payments or repay the amount of the Note in full prior to the due date without penalty. This Note is �d wiU be subordinate to all existing debt of the Agency and such additional debt as the Agency may incur ciuring the term of this Note and no funds of the Agency are pledged to its repayment. In the event of a default by the Agency, the City shall have all legal and equitable remedies available to it to enforce the terms of the Note. This Note is made as of Apri123, 2002 at Temecula California i:l�:l)t�'.1�`(:L.C?1':'vlf��V�I�A(�13NC'�CC1f� "('rIN.; 11'Y • TEM � LA merchero rperson ' ATTEST: ;�-� , Susan . Jones� CMC City Cl k � Peter M. Thorson General Counsel R:101dtownlSixth StreetU'romissorynote.Jac PROMISSORY NOTE The Redevelopment Agency of the City of Temecula ("Agency") hereby promisea, for considoration received, to pay the City of Temecula ("City'� the sum of One Million Nine Hundred Thousand Dollars and NO/100 (S 1,903,333.00) bearing simplc interest at the rate of 5% snnually. This Note and all accrued interest from March 12, 1996 shall be due and pQyable Docembar 16, 2013 as extcnded by mutual written agreement of tt� City aad the Agoncy without interim payments by the Agenay during the term of the Note, provided that the Agency may make partial payments or repay the amotmt of the Note in full prior to the due date witlwut penalty. This Note is and will he subordinate to all axisting debt of the Agency and such additional debt as the Agency may incur during the term of this Note and no funds of tho Agency are pledged to its repaymen� In the event of a default by the Agency, the City shall have all lcgal and equitable remedies available to it to enforce the terms of tha Note. This Note is made as of December 16, 2008 at Temecula California, REDEV PMENT ENCY THE C F E A Ron Roberts . Chairpeison ATTEST: (.1/- Susan Jones, MMC/ y Secretary City CI � Peter M. Thorson Agency Counsel z:10�etoweVSixcn saoec�rranisao,ynocauect60a,aoo �NT a,� Q�� 'L � uuu� Z w 1111 n o r, �c DEPARTMENT OF E t3. BR OWN JR • CiOVERNO � F I N A N C E 91 3 L B7q�LT ��. HACpAM8N70� OA • 9861 4-37GB� � WWW.DOC.Cn.�OV Aprii 26, 2013 Mr. Luke Watson, Senior Planner City of Temecula 41000 Main Street Temecula, CA 92589 Dear Mr. Watson: Subject: Request for a Finding of Completion The California Department of Finance (Finance) has compfeted the Finding of Completion for the City of Temecula Successor Agency. Finance has completed its review of your documentation, which may have inciuded reviewing supporting documentafion submitted to substantiate payment or obtaining confirmation from the county auditor- controller. Pursuant to Health and Safety Code (HSC) section 34179.7, we are pleased to inform you that Finance has verified that the Agency has made full payment of the amounts determined under HSC section 34179.6, subdivisions (d) or (e) and HSC section 34183.5. 1"his letter serves as notiflcation that a Finding of Completion has been granted. The Agency may now do the following: • Place loan agreements between the former redevelopment agency and sponsoring entity on the ROPS, as an enforceable obligation, provided the oversight board makes a finding thaf the loan was for legitimate redevelopment purposes per HSC section 34191,4 (b) (1}. Loan repayments will be govemed by criteria in HSC section 34191.4 (a) (2). • Utilize proceeds derived from bonds issued prior to January 1, 2011 in a manner consfstent with the original bond covenants per HSC section 34191.4 (c). Additionally, the Agency is required to submit a Long-Range Property Management Plan to Finance for review and approval, per HSC section 34191.5 (b), within six months from the date of this letter. Please direct inquiries to Andrea Scharffer, Staff Finance Budget Analyst, or Chris Hill, Prineipal Program Budget Analyst, at (916) 445-1546. Sincerely, � STEVE SZALAY Local Government Consultant cc: Mr. Rudy Graciano, Revenue Manager, Cityof Temecula Ms. Pam Elias, Chief Accountant Property Tax Division, Riverside County Auditor-Controller California State Confroller's Office en a em . . . eco n ize � at�on ament ceue _ THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY AGENDA REPORT TO: Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency Patrick Richardson, Director of Community Development for the Successor FROM: Agency to the Temecula Redevelopment Agency DATE: September 25, 2013 SUBJECT: Recognized Obligation Payment Schedules for the period of January 1, 2014 through June 30, 2014. (ROPS 13-14A) PREPARED BY: Luke Watson, Senior Planner for the Successor Agency to the Temecula Redevelopment Agency RECOMMENDATION: Adopt a resolution entitled: RESOLUTION NO. OB SARDA 13- A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIODS OF JANUARY 1, 2014 THROUGH JUNE 30, 2014 PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH BACKGROUND: Pursuant to Health and Safety Code Section 34177(1)(2)(B), successor agencies are required to prepare in advance a Recognized Obligation Payment Schedule (ROPS) that is forward looking for six months and covering the periods of January 1, 2014 through June 30, 2014. The ROPS lists all of the Successor Agency's financial obligations. The Successor Agency is required to submit this ROPS to the Oversight Board for approval after the Successor Agency has approved the ROPS in a public meeting. After the Oversight Board approves the ROPS the Successor Agency is then required to submit the approved ROPS to the State Department of Finance the County Auditor Controller, and to the State Controller no later than October 1, 2013. Preparation of a Recognized Obligation Payment Schedule is in furtherance of allowing the Successor Agency to pay enforceable obligations of the former Redevelopment Agency. FISCAL IMPACT: Adoption of the proposed resolutions wili enable the Successor Agency to fulfill its enforceable obligations. In accordance with Health and Safety Code Section 34173(e), the liability of the Successor Agency, acting pursuant to the powers granted under Part 1.85, shall be limited to the extent of, and payable solely from, the total sum of property tax revenues it receives pursuant to Part 1.85 and the value of assets transferred to it as a successor agency for a dissolved redevelopment agency. The debts, assets, liabilities, and obligations of the Successor Agency shall be solely the debts, assets, liabilities, and obligations of the Successor Agency and not of the City. ATI'ACHMENTS: 1. Resolution No. OB SARDA 13- 2. Exhibit A— Draft Recognized Obligations Payment Schedule for the periods of January 1, 2014 through June 30, 2014 RESOLUTION NO. OB SARDA 13- A RESOLUTION OF THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIODS OF JANAURY 1, 2014 THROUGH JUNE 30, 2014 PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Recitals. The Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency does hereby find, determine and declare that: A. The Redevelopment Agency of the City of Temecula was a redevelopment agency in the City of Temecula, duly created pursuant to the Community Redevelopment Law, Part 1, commencing with Section 33000, of Division 24 of the California Health and Safety Code (hereafter the ''Temecula Redevelopment Agency"). 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." On December 1, 1989, the City of Temecula was incorporated. The boundaries of the Project Area described in the Plan 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. The Plan has been amended by Ordinance Nos. 94-33, 06-11 and 07-20 adopted by the City Council. The Agency duly adopted its Implementation Plan for 2010-2014 on December 8, 2009 in accordance with Health and Safety Code Section 33490. 6. The City Council of the City of Temecula adopted Resolution No. 12-02 January 10, 2012, pursuant to Health and Safety Code Section 34173 and applicable law electing for the City to serve as the Successor Agency for the Temecula Redevelopment Agency upon the dissolution of the Redevelopment Agency of the City of Temecula. The City Council of the City of Temecula, Acting as the Governing Body for the Successor Agency to the Temecula Redevelopment Agency, adopted Resolution No. 12-01 on February 28, 2012 declaring the Successor Agency to the Temecula Redevelopment Agency duly constituted pursuant to law and establishing rules and regulations for the operation of the Successor Agency to the Temecula Redevelopment Agency ("Successor Agency"). C. The California Redevelopment Association and League of California Cities filed a lawsuit in the Supreme Court of California (California Redeve/opment Association, et al. v. Matosantos, et al. (Case No. S194861)) alleging that ABX1 26 and ABX1 27 were unconstitutional. D. On December 29, 2011, the Supreme Court issued its opinion in the Matosantos case largely upholding ABX1 26, invalidating ABX1 27, and holding that ABX1 26 may be severed from ABX1 27 and enforced independently. E. As a result of the Supreme Court's decision, on February 1, 2012, all redevelopment agencies, including the Temecula Redevelopment Agency, were dissolved and replaced by successor agencies established pursuant to Health and Safety Code Section 34173. F. Accordingly, the Board desires to adopt this Resolution approving the Recognized Obligation Payment Schedule for the periods of January 1, 2014 through June 30, 2014 in accordance with Part 1.85. Section 2. This Resolution is adopted pursuant to Health and Safety Code Section 34177. Section 3. The Board hereby approves the Recognized Obligation Payment Schedule for the periods of January 1, 2014 through June 30, 2014 substantially in the form attached as Exhibit A to this Resolution and incorporated herein by reference (the "ROPS"). The Executive Director of the Successor Agency, in consultation with the Successor Agency's legal counsel, may modify the ROPS as the Executive Director or the Successor Agency's legal counsel deems necessary or advisable. Section 4. The Board hereby designates the Finance Director as the official to whom the DOF inay make requests for review in connection with the ROPS and who shall provide the DOF with the telephone number and e-mail contact information for the purpose of communicating with the DOF. Section 5. The officers and staff of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution, including submitting the certified Recognized Obligation Payment Schedule to the oversight board for approval, and any such actions previously taken by such officers are hereby ratified and confirmed. Section 6. The Secretary shall certify to the adoption of this Resolution. PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency this 25 day of September, 2013. Gary Thornhill, Vice Chairperson ATTEST: Susan W. Jones, MMC Board Secretary STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, MMC, Board Secretary of the Successor Agency to the Temecula Redevelopment Agency, do hereby certify that the foregoing Resolution No. OB SARDA 13-04 was duly and regularly adopted by the Board Members of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency of the City of Temecula at a meeting thereof held on the 25 day of September, 2013 by the following vote: AYES: BOARD MEMBERS: NOES: BOARD MEMBERS: ABSENT: BOARD MEMBERS: ABSTAIN: BOARD MEMBERS: Susan W. Jones, MMC Board Secretary I Recognized Obligation Payment Schedule (ROPS 13-14B) - Summary Filed for the January 1, 2014 through June 30, 2014 Period Name of Successor Agency: Temecula Name of County: Riverside Current Period Requested Funding for Outstanding Debt or Obligation Six-Month Total Enforceable Obligations Funded with Non-Redevelopment Property Tax Trust Fund (RPTTF) Funding A Sources (B+C+D): $ 4,209,671 B Bond Proceeds Funding (ROPS Detail) 4,209,671 C Reserve Balance Funding (ROPS Detail) - D Other Funding (ROPS Detail) - E Enforceable Obligations Funded with RPTTF Funding (F+G): $ 4,152,363 F Non-Administrative Costs (ROPS Detail) 4,027,363 G Administrative Costs (ROPS Detail) 125,000 H Current Period Enforceable Obligations (A+E): $ 8,362,034 Successor Agency Self-Reported Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded with RPTTF (E): 4,152,363 J Less Prior Period Adjustment (Report of Prior Period Adjustments Column U) (1,051,846) K Adjusted Current Period RPTTF Requested Funding (I-J) $ 3,100,517 County Auditor Controller Reported Prior Period Adjustment to Current Period RPTTF Requested Funding L Enforceable Obligations funded with RPTTF (E): 4,152,363 M Less Prior Period Adjustment (Report of Prior Period Adjustments Column AB) - N Adjusted Current Period RPTTF Requested Funding (L-M) 4,152,363 Certification of Oversight Board Chairman: Pursuant to Section 34177(m) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Name Title Payment Schedule for the above named agency. /s/ Signature Date Recognized Obligation Payment Schedule (ROPS) 13-14B - Report of Fund Balances (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177(I), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obli ation. A B C D E F G H I J K Fund Sources Bond Proceeds Reserve Balance Other RPTTF Review balances retained for Bonds Issued Bonds Issued approved RPTTF balances Rent, on or before on or after enforceable retained for bond Grants, Fund Balance Information b ROPS Period 12/31/10 01/01/11 obligations reserves Interest, Etc. Non-Admin Admin Total Comments ROPS III Actuals 01/01/13 - 6/30/13 Beginning Available Fund Balance (Actual 01/01/13) Note that for the RPTTF, 1+ 2 should tie to columns L and Q in the 1 Report of Prior Period Adjustments (PPAs) 3,986,241 12,577,506 1,771,812 14,603 -$ 18,350,162 Revenue/Income (Actual 06/30/13) Note that the RPTTF amounts should tie to the ROPS III distributions from the Counry Auditor- 2 Controller 217 751 179,157 3,065,203 125,000 $ 3,370,328 Expenditures for ROPS III Enforceable Obligations (Actual 06/30/13) Note that for the RPTTF, 3+ 4 should tie to columns N 3 and S in the Report of PPAs 1,080,262 2,746,564 125,000 $ 3,951,826 Retention of Available Fund Balance (Actual 06/30/13) Note that the Non-Admin RPTTF amount should only include the retention of 4 reserves for debt service approved in ROPS III 438,524 $ 438,524 ROPS III RPTTF Prior Period Adjustment Note that the net Non- Admin and Admin RPTTF amounts should tie to columns O and T in No entry required 5 the Report of PPAs. 1,051,846 -$ 1,051,846 6 Endin Actual Available Fund Balance 1+ 2- 3- 4- 5 $ 3,986,458 $ 12,578,257 $ -$ $ 870,707 $ 105,282 $ -$ 16,278,294 ROPS 13-14A Estimate 07/01113 - 12/31/13 Beginning Available Fund Balance (Actual 07/01/13) (C, D, E, G, 7 and I= 4+ 6, F= H4 + F6, and H= 5+ 6 $ 3,986,458 $ 12,578,257 $ -$ 438,524 $ 870,707 $ 946,564 $ -$ 17,768,664 Revenue/lncome (Estimate 12/31/13) Note that the RPTTF amounts should tie to the ROPS 13-14A 8 distributions from the County Auditor-Controller 4,027,363 125,000 $ 4,152,363 Expenditures for 13-14A Enforceable Obligations 9 Estimate 12/31/13 2,711,659 754,047 670,000 3,907,209 125,000 $ 8,167,915 Retention of Available Fund Balance (Estimate 12/31/13) Note that the RPTTF amounts may include the retention of reserves 10 for debt service approved in ROPS 13-14A 173,148 $ 173,148 71 Endin Estimated Available Fund Balance 7+ 8- 9-10 $ 1,274,799 $ 11,824,210 $ -$ 231,476 $ 870,707 $ 893,570 $ -$ 13,579,964 Recognized Obligation Payment Schedule (ROPS ) 13-14B - ROPS Detail January 1, 2014 through June 30, 2014 (Report Amounts in Whole Dollars) A B C D E F G H I J K L M N O P Fundin Source Non-Redevelopment Property Tax Trust Fund Non-RPTTF RPTTF ContracUAgreement ContracUAgreement TotalOutstanding Item # Pro ect Name / Debt Obli ation Obli ation T e Execution Date Termination Date Pa e Descri tion/Pro ect Sco e Pro�ect Area Debt or Obli ation Retired Bond Proceeds Reserve Balance Other Funds Non-Admin Admin Six-Month Total $ 186,717,056 $ 4 209 671 $ -$ -$ 4 027,363 $ 125 000 $ 8,362,034 1 Trustee Admin Fees Fees 4/24/2002 6/30/2013 US Bank as Trustee for Trustee Fees for TAB Bond Issues No 1-1988 8,000 N 8,000 $ 8,000 Bondholders 2 Abbott OPA OPAlDDA/Constructi 2/12/2002 2/12/2021 Abbott Vascular Property Tax Reimbursment No 1-1988 1,443,078 N $ - on 3 Abbott OPA OPA/DDA/Constructi 2/12/2002 2/12/2021 Abbott Vascular Reimbursement for Development No 1-1988 750,000 N 209,671 305,590 $ 515,261 on Im rovements 4 SERAF Payment Reimbursment SERAF/ERAF 5/10/2011 5/10/2016 Low-Mod Housing Fund Loan of Low Mod to Redeve. Fund for No 1-1988 5,250,954 N $ - SERAF 5 Temecula Gardens L.P Loan OPA/DDA/Constructi 7/1/1998 7/1/2027 Temecula Gardens L.P. Loan for Affordable Housing No 1-1988 4,270,000 N $ - A reement on 6 2002 TAB FY 2012/13 Debt Service Bonds Issued On or 4/24/2002 7/28/2005 US Bank as Trustee for Bonds Issues to Fund Redevelopment No 1-1988 41,030,694 N 1,508,547 $ 1,508,547 aa Before 12/31/10 Bondholders Activities 7 2006 TAB Series A FY 2012/13 Debt Bonds Issued On or 12/1/2006 7/30/2005 US Bank as Trustee for Bonds Issues to Fund Redevelopment No 1-1988 28,586,403 N 352,119 $ 352,119 Service aa Before 12/31/10 Bondholders Activities 8 2006 TAB Series B FY 2012/13 Debt Bonds Issued On or 12/1/2006 7/30/2005 US Bank as Trustee for Bonds Issues to Fund Redevelopment No 1-1988 4,984,260 N 69,344 $ 69,344 Service Before 12/31/10 Bondholders Activities 9 2007 TAB FY 2012/13 Debt Service Bonds Issued On or 10/17/2007 7/30/2005 US Bank as Trustee for Bonds Issues to Fund Redevelopment No 1-1988 27,409,928 N 397,624 $ 397,624 Before 12/31/10 Bondholders Activities 10 2010 Housing TAB Series A& B FY Bonds Issued On or 2/24/2010 7/31/2005 US Bank as Trustee for Bonds Issues to Fund Affordable No 1-1988 29,764,529 N 496,348 $ 496,348 2012/13 Debt Service aa Before 12/31/10 Bondholders Housin 11 2011 Housing TAB Fiscal Year Bonds Issued After 3/1/2011 7/31/2005 US Bank as Trustee for Bonds Issues to Fund Affordabie No 1-1988 37,034,206 N 551,047 $ 551,047 2012/13 Debt Service aa 12/31/10 Bondholders Housin 12 AMCAL Pujol Fund L.P. OPA OPA/DDA/Constructi 2/22/2011 2/23/2066 AMCAL Pujol Fund, L.P. Grant for construction of Affordable No 1-1988 - Y $ - on Housin 13 Old Town Infrastructure Projects ImprovemenUlnfrastr 7/1/2007 7/29/2011 RBF / Pardell / LH Old Town Infrastructure Improvements No 1-1988 - N $ - ucture En ineerin / Ed e 14 Promenade Parking Garage OPA OPA/DDA/Constructi 7/24/2007 7/29/2005 Forrest City Loan for Public Parking Garage No 1-1988 20,000 N $ - on 15 Professional Services Agreement Professional 3/22/2011 6/29/2013 Environmental Science Jefferson Corridor Specific Plan EIR No 1-1988 - N $ - Services Associates 16 Professional Services Agreement Professional 3122/2011 6/30/2013 Inland Planning & Design Jefferson Corridor Specific Plan No 1-1988 13,920 N $ - Services 17 CSUSM Campus Funding Business Incentive 11/24/2009 11/24/2019 Cal State San Marcos Satellite Campus Development No 1-1988 97,704 N 97,704 $ 97,704 A reement A reements 18 Summerhouse Housing Associates, OPA/DDA/Constructi 9/22/2009 9/22/2064 Summerhouse Housing Loan for Affordable Housing No 1-1988 1,080,262 N $ - L.P., OPA on Associates, L.P. 19 3rd and Front OPA OPA/DDA/Constructi 2/22/2011 2/22/2066 Front Street Plaza Partners Loan for Affordable Housing No 1-1988 4,000,000 N 4,000,000 $ 4,000,000 on LLC 20 Agency Administration Admin Costs 7/1/2012 6/30/2013 Multiple Payees Agency Staff Compensation / Agency No 1-1988 250,000 N 125,000 $ 125,000 Admin 21 6th Street Promissory Note City/County Loans 3/1211996 12/31/2016 City of Temecula Loan for acquisition of property for No 1-1988 723,118 N 241,040 $ 241,040 On or Before 6/27/11 ublic arkin lot $ - $ $ $ $ $ - $ $ $ $ $ $ $ $ $ Recognized Obflgation Payment Schedule (ROPS) 7}�4B - Report of Prior Period Adjustments Reported for the ROPS III (January 1, 2013 through June 30, 2013) Period Pursuant to Health and Safety Code (HSC) section 34186 (a) (Report Amounts in Whate Dollers) ROPS III Successor Agency (SA) Self-reported Prior Period Adjustmenu (PPA�: Pursuant to HSC Section 34186 (a), SAs are required to report the differences between their actual available funding and their actual expenditures for the ROPS III (July through December 2013) period. The amount of Redevelopment Property Tax Trust Fund (RPTTF) a roved for the ROPS 13-148 Janua throu h June 2014 eriod will be offset b the SA's seN-re orted ROPS III rior eriod ad�usvnent. HSC Section 34186 a also s ec�es that the rior eriod ad'ustments seH-re orted b SAs are sub'ect to audit b the coun auditor-conV011er CAC and the State ConV011er. ROPS III CAC PPA: To be com leted b the CAC u on submittal of the ROPS 13-14B b the SA to Finance and the CAC A B C D E F G H I J K L M N u P � R S T U V W X � Z AA AB Non Ex enditures RPTTF Ex endltures LMIHF R�sorw Balance Net CAL Non- (Includes LMIHF Due Diligence (Includes Other FurWs erM Assets Nat SA Non-Admin Admin and Admin Review DDR reteined balences Bond Procwds DDR retei�d belances OtMr Funda Non•Admin Admin and Admin PPA Non-Admin CAC Admin CAC PPA Avallable RP7TF Availebk Net DiHarence Net Differance (ROPS III DlHannce RPTTP Di((erence (Amount UseO to DiHerence Differenrs (Amount Used to distn6uted + all Nat Lasaar of (If M ia lass [han N, (ROPS II I distnbuted Not Lassar of (I/ R is lass than S, Offset ROPS 13-14B Nat Leaser of (If V is less than W, Nat Lenser of (If V is less then Offset ROPS 13148 Proje<t Neme / Debt other eveilable as of Aulhorizadl tM dHfannw is +all other aveileble Authorizstl / tha difference Is Requested RPTTF Authorizad I the diflerance is AuthoHZad / Z, Ihe diHerence Requesled RPTTF Itam# Obli ation Authorizad Actual Authorixad Actusl AuMorizod Actuel Authorizad Acfual Authorized 1/1/�3) Availabla Actu�l aro) Authoriud soft/t/73) Availnbla Aclual ero) (O.T)) Availabla Actuel zem) Aveileb�a Aatuel iszem) (X�AA) $ S - E 6,081,887 S 2,839,929 $ $ 8 E E 3,808,410 $ - E 3,808,470 5 2,756 584 $ 1,p51,B46 S 125,000 $ e •$ 125,000 8 125,000 S -$ �,051,846 S - S S $ 3 3 - 3 � Trustee Adm�in Faes 16,080 S 18,080 4,200 5 1'1.880 $ $ -$ 11,880 $ $ -$ 2 Abbori OPA $ $ 5 $ - $ $ $ - $ 3 Abbott OPA 305.590 $ 305,590 E 305,590 $ $ - $ 305,590 S - S -$ - SERAF Peyment q ReimDUrsment E S S 8 ' S $ $ '$ Temacule Gardens L.P Loen 5 Agraemen� 8 S E - S -$ - S E - 5 2002 TAB FV 2012/13 De6t g Service(aa) 1,1�8,543 $ 1,118,543 8'18,543 S 500,000 $ E - S b00,000 Y - a '$ 2008 TAB Senes A FV 2012/13 7 Debt Service (ae) 537,818 $ 537,818 357,818 5 iB0,000 S $ - E 180,000 $ - � -$ 2008 7AB Series B Fv 2012/13 8 Debt Service 70.819 $ 70,fi19 70.819 $ $ $ - $ $ $ - $ 2007 TAB FV 2012A 3 Debt B Service 404,433 $ 404,433 404,433 $ $ $ - $ - $ $ - $ 2010 Houairg TAB Senes A& �0 B FV 2012/13 Debt Sernce (ee) 500,248 $ 500,248 500,248 $ $ $ - $ - $ ' $ " $ 2011 Mousing TAB Fiscel Veer � � 2012/13 Debl Service (ee) 554,047 $ 554,047 554,047 $ E $ - $ $ ' $ ' $ �2 AMCAL Pujol Fund L.P, OPA 1,&59,887 t,859,867 $ S $ $ ' $ ' $ $ - $ Old Town Intraslruclure t3 P�ojecls 7ffi.220 $ $ - a $ - $ - $ - $ - $ Promenetle Parkirg Garage t6 OPA 20.000 $ S $ $ - $ $ - $ - S Pio(assionel Services t5 Agreement 84.810 S 84.810 49.BB8 S 44,814 S S - S 44.814 $ - S -$ Protessianel5ernces 18 Agreement 19.G82 S 18.462 8.700 S 9,782 4 $ - S 0,762 $ S -$ CSUSM Campus FurMing 77 Aqreement 188,980 $ 186.BB0 186.980 S - S S -$ - 3 5 - 3 - Summerhouse Housing 7g Associates, L.P., OPA 1,080,282 a S $ s -$ ' $ - $ "$ �B 3rd arW Fronl OPA 4,000,000 $ S - S a - a - $ $ '$ - 20 A9encyAdminislretion $ $ 125,000 S 725,000 125,000 S - S $ - $ '$ s a s s -s s � -$ s s s s -s s s -s - s s a s - s s - $ -$ - s s s s -s s $ -$ s s s s -s s s -s s s s s -s s s -s s a s s - s $ - $ -$ s s s s -s s a -s s s s s -s % s -$ s s a s .s s s -s s s s s - s - s - s -$ s s s s -s s - s -s - s s s s -s s - s -s s s s s - s _ s - a - s s s s s - s s - $ -$ s s a s - s s - s - s s s a s -s s s -s s s' s s -s s s -s s a s s -s s - s -% - s s a s -s $ $ -$ - s s s s -s s s -s s s a s - s - s - s - s s s s s -s s s -s - s s a s -a s a -s s s s s -a s - s -s s s s a -a s s -a s s s s -s s s -s $ s $ $ _ y s - s - s s s s s -s s s -s $ a s s - s s - $ - $ - $ $ $ $ _$ s s -s s s s s -s - s s -s s s s s -s - s s -s s s s a -s $ - $ -$ s s s s -s - $ $ -$ - s s s s -s - s s -s 8 E 8 ff - S $ - $ '$ 8 S $ S - S - S $ - S - S S - S 8 - S 8 S - S $ E S S - S 5 S - 8 s s s s - a $ - $ �$ $ S $ $ _s s s - s - Recognized Obligation Payment Schedule 13-14B - Notes January 1, 2014 through June 30, 2014 Item # Notes/Comments en a em on an e ro ert a na ement a n OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY AGENDA REPORT TO: Executive Director/Board of Directors FROM: Patrick Richardson, Director of Community Development for the Successor Agency to the Temecula Redevelopment Agency DATE: September 25, 2013 SUBJECT: APPROVAL AND TRANSMITTAL OF THE LONG-RANGE PROPERTY MANAGEMENT PLAN IN ACCORDANCE WITH HEALTH AND SAFETY CODE SECTION 34191.5 PREPARED BY: Luke Watson, Senior Planner for the Successor Agency to the Temecula Redevelopment Agency RECOMMENDATION: Adopt a resolution entitled: RESOLUTION NO.OB SARDA 13- A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING THE LONG-RANGE PROPERTY MANAGEMENT PLAN PREPARED BY THE SUCCESSOR AGENCY PURSUANT TO HEALTH AND SAFETY CODE SECTION 34191.5, DETERMINING THAT APPROVAL OF THE LONG-RANGE PROPERTY MANAGEMENT PLAN IS EXEMPT FROM THE CALIFORNIA ENVIRONMENTAL QUALITY ACT, AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH That the Oversight Board adopt the attached resolution pursuant to Health and Safety Code Section 34191.5, (i) approving the Long-Range Property Management Plan (the "LRPMP") attached as Exhibit A to the resolution, (ii) finding that approval of the LRPMP is not a project pursuant to the California Environmental Quality Act, and (iii) directing the transmittal of the resolution to the Department of Finance. Discussion Pursuant to Health and Safety Code Section 34175(b) and the California Supreme Court's decision in California Redevelopment Association, et al. v. Ana Matosantos, et al. (53 Cal.4th 231(2011)), on February 1, 2012, ail real properties of the former Temecula Redevelopment Agency (the "Agency") transferred to the control of the Successor Agency to the Agency by operation of law. Pursuant to Health and Safety Code Section 34191.5(b), the Successor Agency must prepare a long-range property management plan (the "LRPMP") that addresses the disposition and use of the real properties of the former Agency. The LRPMP must be submitted to the Oversight Board and the Department of Finance (the "DOF") for approval no later than six months following the issuance by DOF to the Successor Agency of a finding of completion pursuant to Health and Safety Code Section 34179.7. The DOF issued a finding of completion to the Successor Agency on April 26, 2013. The Successor Agency has prepared and submitted to the Oversight Board a LRPMP. The LRPMP addresses the disposition and use of the reai properties of the former Agency and includes the information required pursuant to Health and Safety Code Section 34191.5(c). Pursuant to Section 34191.5(c), the LRPMP includes an inventory providing specified information, if applicable, about each of the real properties, including, among other things, the date of acquisition, the value on the date of acquisition, the estimated current value, and a history of previous development proposals. Permissible uses of the properties include the retention of the property for governmental use pursuant to Health and Safety Code Section 34181(a), the retention of the property for future development, the sale of the property, or the use of the property to fulfill an enforceable obligation. Pursuant to Health and Safety Code Section 34180Q), at the same time the Successor Agency submitted the LRPMP to the Oversight Board, the Successor Agency submitted the LRPMP to the County Administrative Officer, the County Auditor-Controller, and DOF. Pursuant to Health and Safety Code Section 34181(f), the public was provided with at least ten days' notice of the date of the meeting at which the Oversight Board proposes to consider approval of the LRPMP. The attached resolution approves the LRPMP as presented by the Successor Agency and directs the staff of the Successor Agency to transmit the resolution to DOF together with written notice and information regarding the action taken by the resolution. Approval of the LRPMP is not a project for purposes of the California Environmental Quality Act (Pub. Res. Code Section 21000 et seq.) and the CEQA Guidelines (14 Cal Code Regs 15000 et seq.) because it is an organizational or administrative activity of government that will not result in direct or indirect physical changes in the environment (CEQA Guidelines Section 15378(b)(5)). Further, it can be seen with certainty that there is no possibility that approval of the LRPMP may have a significant effect on the environment, and thus the action is exempt from CEQA (CEQA Guidelines Section 15061(b)(3)). FISCAL IMPACT: The LRPMP calls for the disposition of property previously owned by the dissolved Temecula Redevelopment Agency. Upon disposition of said property, in accordance with the LRPMP, the proceeds of a real property disposition may be required to be disbursed to appropriate taxing entities, or, may be utilized to cover any shortfall in the property tax trust fund. Any real property disposition proceeds would be disbursed to the SARDA in order to cover costs associated with enforceable obligations on the approved Recognized Obligation Payment Schedule (ROPS) ATTACHMENTS: 1. Resolution No. SARDA 13- 2. Exhibit A— Long Range Property Management Plan RESOLUTION NO. OB SARDA 13- A RE50LUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING THE LONG- RANGE PROPERTY MANAGEMENT PLAN PREPARED BY THE SUCCESSOR AGENCY PURSUANT TO HEALTH AND SAFETY CODE SECTION 34191.5, DETERMINING THAT APPROVAL OF THE LONG-RANGE PROPERTY MANAGEMENT PLAN IS EXEMPT FROM THE CALIFORNIA ENVIRONMENTAL QUALITY ACT, AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH RECITALS: A. Pursuant to Health and Safety Code Section 34175(b) and the California Supreme Court's decision in California Redevelopment Association, et al. v. Ana Matosantos, et al. (53 Ca1.4th 231(2011)), on February l, 2012, all assets, properties, contracts, leases, books and records, buildings, and equipment of the former Temecula Redevelopment Agency (the "Agency") transferred to the control of the Successor Agency to the Agency (the "Successor Agency") by operation of law. B. Pursuant to Health and Safety Code Section 34191.5(b), the Successor Agency must prepare a long-range property management plan which addresses the disposition and use of the real properties[and interests in real property]of the former Agency, and which must be submitted to the Oversight Board of the Successor Agency (the "Oversight Board") and the Department of Finance (the "DOF") for approval no later than six months following the issuance by DOF to the Successor Agency of a finding of completion pursuant to Health and Safety Code Section 34179.7. C. Pursuant to Health and Safety Code Section 34179.7, DOF issued a finding of completion to the Successor Agency on Apri126, 2013. D. The Successor Agency has prepared and submitted to the Oversight Board the long-range property management plan attached hereto as Exhibit A(the "LRPMP"), which LRPMP addresses the disposition and use of the real properties [and interests in real property] of the former Agency and includes the information required pursuant to Health and Safety Code Section 34191.5(c). E. Pursuant to Health and Safety Code Section 34180(j), at the same time the Successor Agency submitted the LRPMP to the Oversight Board, the Successor Agency submitted the LRPMP to the County Administrative Officer, the County Auditor-Controller, and DOF. 1 F. Pursuant to Health and Safety Code Section 34181(�, the public was provided with at least ten days' notice of the date of the meeting at which the Oversight Board proposes to consider approval of the LRPMP. NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. This Resolution is adopted pursuant to Health and Safety Code Section 34191.5. Section 3. The Oversight Board hereby approves the LRPMP as presented by the Successor Agency and attached hereto as Exhibit A. Section 4. The staff of the Successor Agency is hereby directed to transmit to DOF this Resolution together with written notice and information regarding the action taken by this Resolution. Such notice to DOF shall be provided by electronic means and in a manner of DOF's choosing. Section 5. The staff and the Board of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution and any such actions previously taken are hereby ratified. Section 6. This Resolution has been reviewed with respect to the applicability of the California Environmental Quality Act (Public Resources Code Section 21000 et seq.) ("CEQA"). Pursuant to the State CEQA Guidelines (14 Cal Code Regs 15000 et seq.)(the "Guidelines"), the Oversight Board has determined that the approval of the LRPMP is not a project pursuant to CEQA and is exempt therefrom because it is an organizational or administrative activity of government that will not result in direct or indirect physical changes in the environment (Guidelines Section 15378(b)(5)). Further, it can be seen with certainty that there is no possibility that approval of the LRPMP may have a significant effect on the environment, and thus the action is exempt from CEQA (Guidelines Section 15061(b)(3)). Staff of the Successor Agency is hereby directed to prepare and post a notice of exemption pursuant to Guidelines Section 15062. -2- PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency this 25 day of September, 2013. Gary Thornhill, Vice Chairperson ATTEST: Susan W. Jones, MMC Board Secretary STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, MMC, Board Secretary of the Successor Agency to the Temecula Redevetopment Agency, do hereby certify that the foregoing Resolution No. OB SARDA 13-04 was duly and regularly adopted by the Board Members of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency of the City of Temecula at a meeting thereof held on the 25 day of September, 2014 by the following vote: AYES: BOARD MEMBERS: NOES: BOARD MEMBERS: ABSENT: BOARD MEMBERS: ABSTAIN: BOARD MEMBERS: Susan W. Jones, MMC Board Secretary -3- EXHIBIT A Long-Range Property Management Plan -4- Successor Agency to the Temecula Redevelopment Agency Long Range Property Management Plan Approved by the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency September _. 2013 SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY LONG RANGE PROPERTY MANAGEMENT PLAN INTRODUCTION On June 27, 2012, Governor Brown signed into law Assembly Bill 1484 (AB 1484), a budget trailer bill that makes substantial changes to the redevelopment agency dissolution process implemented by Assembly Bill 1 X 26. One of the key components of AB 1484 is the requirement that all successor agencies develop a Long Range Property Management Plan that governs the disposition and use of the former non-housing redevelopment agency properties. This document is the Long Range Property Management Plan (LRPMP) for the Successor Agency of the former Temecula Redevelopment Agency. EXECUTIVE SUMMARY The former Redevelopment Agency acquired properties in an effort to revitalize blighted portions of the City. There are five (5) properties or parcels owned and controlled by the Successor Agency. All Successor Agency owned properties are within the Old Town District. Town Sauare Marketplace The former Redevelopment Agency acquired property on the north and south sides of Main Street within the Old Town District for the construction of the Town Square Park and Town Square Marketplace. The Town Square Park was completed in 2009 at which time the park property was deeded to the City of Temecula. The Agency retained ownership of the Town Square Marketplace properties and three (3) of the site(s) are currently vacant with fourth parcel partially vacant with the remainder being a small free public parking lot . The Successor Agency intends to sell these properties to a developer as one site. The Successor Agency wiil issue a request for interest and ultimately enter into a purchase as sale agreement and development agreement for the disposition of the subject property. The four (4) parcels that make up the site include: Address APN Lot Size n/a 922-360-004 10,890 sq. ft. n/a 922-360-005 10,890 sq. ft. n/a 922-360-006 10,019 s. ft. n/a 922-360-007 10,019 s. ft. Children's Museum The former Redevelopment Agency acquired one (1) parcel in 2000 and renovated a blighted structure to be adaptively reused as the public Children's Museum, which is owned and run by the City of Temecula. The Children's Museum is a highly successful award winning public facility that serves a vital need within the community. The Successor Agency intends to retain this property for Governmental purposes per Section 34191.5 (c). This site includes the foilowing parcel: Address APN Lot Size 42081 Main Street 922-036-028 19,167 sq.ft. Remainder of Report and Contact Information The remainder of this report provides detailed information on each property owned by the Successor Agency as required by Health and Safety Code Section 34191.5. Any questions or information requests related to this report should be directed to: Successor Agency to the Temecula Redevelopment Agency Community Development Department Attention: Luke Watson, Senior Planner Luke.W atson@cityoftemecula.org (951) 694-6415 • • • • � �� • �`�,�� '"��"'�. � �� ':� ,{. :� �.Y • r' � . a, '.� � r _� , . _. c 4 �. 1 � r � �iI � � � � t � ',►� 4 � .,'` '*.c a.. ; ; f •�� . � � , A ` � � ` > � r r . I � �. .•, � � f"��;,•�;t w �► .. ' . . ` ,�� 6 ''&'-' *L`t` y � R �; . ,.' ,L_ � � + � � �` <�„� "� , �� w �+ r �► ' � f . -r?�' +, . � \ : � •�.. �� • h J.. � . , � \ \� � , :,�. ` � , � . �� . � �. . �� -` .� � .. �! 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'�.. .. � . . � � o �'�. ` � . � � ' � 1 � �� . �� .r �' . :.. Address APN Ac uisition Date Value at Purchase Lat Size n/a 922-360-004 01/05/2004 $550,000 10,890 s. ft. n/a 922-360-005 06/010/1995 $259,725 10,890 sq. ft. &12/30/1999 n/a 922-360-006 09/25/2005 & $1,275,000 10,019 sq. ft. 10/25/2005 n/a 922-360-007 01 /05/2004 & $920,000 10,019 sq. ft. 08/19/2005 1 Introduction The Town Square Marketplace site(s) were purchased as multiple parcels. The former Redevelopment Agency consolidated those parcels into the four (4) parcels described herein. The four (4) parcels are considered as one development site because of the unique nature and location of the site(s), which flank the Town Square Park. All descriptions that follow refer to the "site" as inclusive of the four (4) parcels. Purpose of Acquisition The purpose of the acquisition was to remove blighted structures and then complete construction . of the Town Square Park and the development of the mixed-use Town Square Marketplace. Current Zoning Old Town SP — Downtown Core. Property Type Vacant Lots & small free public parking lot. Estimate of Current Property Value $1,881,810. This figure represents an estimate of $45 per square (41,818 SF) foot for all four (4) parcels. Proposed Sale Value While there is no proposed sale value, an estimate of sale value would match the estimate of current estimated property value of $45 per square foot or a total of $1,881,810. Proposed Sale Date The Successor Agency anticipates entering into a purchase and sale transaction within the next 18 months. Estimate of any lease, rental, or any other revenues generated by the property, and a description of the contractual requirements for the disposition of those funds The three (3) of the parcels are vacant. One Parcel has a small free public parking lot on it, taking up a portion of the parcel. The site(s) produces no revenue. Contractual Requirements for Use of Income/Revenue There are no contractual requirements currently in place. History of environmental contamination, including designation as a Brownfield site, any related environmental studies, and history of any remediation efforts The site(s) are located within the Old Town Specific Plan area which is covered by a programed environmental impact report completed in 2010. Additionally the parking lot parcel underwent a phase I& limited phase II environmental site assessment of the soils. Both the phase I and phase II site assessments found no contamination on the site. Description of Properties Potential for Transit-Oriented Development The site(s) are located in the Old Town District which is within the Old Town Specific Plan (OTSP) area. The Old Town District is an urban downtown with a mix of commercial, retail, civic, and residential uses organized on a traditional street grid pattern that prioritizes the pedestrian. The OTSP requires the development of mixed-use projects that will continue to urbanize the district. The site(s) is located near Riverside Transit Agency bus stops, a Greyhound bus stop, and the local City run Old Town Trolley stops. In addition, the site(s) will be a short distance from the future Transit Center to be located just north of the Old Town District. The overall potential for this site(s) to develop as transit-oriented are inherent as transit infrastructure already surrounds the site(s). Description of the Planning Objectives of the Successor Agency The development of the site(s) would advance the planning objectives of the City of Temecula the former Redevelopment Agency and the Successor Agency. The goal of the Old Town Specific Plan, General Plan and Redevelopment Plan is to promote the Old Town District as a mixed-use urban downtown. The zoning for the subject properties is Old Town Specific Plan — Downtown Core, which has always anticipated and planned for the site(s) to be developed as a mixed-use urban development. Brief History of Development Proposals and Activity, Including Lease of the Property The site(s) were placed on the market in early 2008 through and request for proposals (RFP) process by which the former Redevelopment Agency was seeking a qualified development partner to purchase the site(s) and enter into a development agreement for the ultimate development of the property. Due to the financial crisis the selected development partner could not execute a transaction and the project was put on hold. The intent of the former Agency, and now the intent of the Successor Agency, is to wait until the economy improves enough to place the site(s) back on the market through the same RFP process. Identify the use or disposition of the property, which could include 1) the retention of the property for Governmental use, 2) the retention of the property for future development, 3) the sale of the property, or 4) the use of the property to fulfill an enforcement obligation The Successor Agency intends to sell the property per (H&SC 34191.5 (2)). Within the next 18 months the Successor Agency intends to actively market the site(s) for sale. A request for proposals will be released and the Successor Agency will interview potential development partners to enter into a purchase agreement and development agreement for the sale and ultimate development of the property. The site(s) has unique character as it sits directly in front of the Temecula Civic Center and City Hall. The Successor Agency and City have a critical interest in the quality of development that occurs and will require special consideration of all potential development partners. Children's Museum , , � • .. � �. ,, �� ; ,`, + ! +i , p ; S I�I . � � �� ,.� `��, ti � . �i � � � * . , o� � o � . .:�� ' � . °�> . �. ' � ' � \- � �, � } , ,+, . r; , ) i Y ! 1� ` l�P � r /�nj t �o , � � Y • � . `reo , 1. �,�r., � � � �' � � � � ; �\ ` . v. ' � '_ . .: ;� Address APN 42081 Main St. 922-036-028 8/25/2000 $800,000 19,167 sq. ft. Temecula, CA 92590 Introduction The Children's Museum site was purchased as part of the Temecula Community Theatre development undertaken by the Redevelopment Agency and the City of Temecula. The former Redevelopment Agency purchased the Children's Museum site along will a number of other parcels for the Temecula Community Theatre, Temecula Mercantile art Gallery and venue space and the Children's Museum. The site was always intended to be a City owned and run Children's Museum and it currently operates in that capacity. The site, in conjunction with Temecula Community Theatre and the Mercantile, are part of a larger cluster of City owned and run Civic developments and uses located within the Old Town District. The Children's Museum is an award winning facility garnering national recognition. The facility has become an institution within the community hosting thousands of children from within the City of Temecula and the region. Purpose of Acquisition The purpose of acquisition was to renovate a blighted structure to be owned and operated by the City of Temecula as the Children's Museum. Current Zoning Old Town SP — Civic Property Type Developed parcel. Children's Museum - Civic use. Estimate of Current Property Value $800,000. This figure represents the cost of the site at the time the former Redevelopment Agency purchased the property. Proposed Sale Value There is no proposed sale value as the Successor Agency intends to retain ownership of the property for governmental use. Proposed Sale Date No sale date proposed. Estimate of any lease, rental, or any other revenues generated by the property, and a description of the contractual requirements for the disposition of those funds The site is owned by the Successor Agency. The Children's Museum on the site is owned by the City of Temecula. The City takes in a small amount of admissions fees for the operation of the Children's Museum. Contractual Requirements for Use of Income/Revenue There are no contractual requirements currently in place. History of environmental contamination, including designation as a Brownfield site, any related environmental studies, and history of any remediation efforts The site(s) are located within the Old Town Specific Plan area which is covered by a programed environmental impact report completed in 2010. Description of Properties Potential for Transit-Oriented Development The site does not present an opportunity for transit-oriented development due to the fact that it currently operates as a local civic institution and will remain in that capacity in perpetuity. Description of the Planning Objectives of the Successor Agency The development of the site would advance the planning objectives of the City of Temecula the former Redevelopment Agency and the Successor Agency. The goal of the Old Town Specific Plan, General Plan and Redevelopment Plan is to promote the Old Town District as a mixed-use urban downtown with a mix of residential, commerciai, employments and civic uses. The zoning for the site is Old Town Specific Plan — Civic which has always anticipated and planned for the site to be developed as a City owned and operated public facility. Brief History of Development Proposals and Activity, Including Lease of the Property There has only been one proposal and that was for the development of a Children's Museum. Identify the use or disposition of the property, which could include 1) the retention of the property for Governmental use, 2) the retention of the property for future development, 3) the sale of the property, or 4) the use of the property to fulfill an enforcement obligation The Successor Agency intends to retain the property for Governmental use per (H&SC 34191.5 �2))• PUBLIC NOTICE PROPOSED APPROVAL OF THE LONG-RANGE PROPERTY MANAGEMENT PLAN PREPARED BY THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY PURSUANT TO CALIFORNIA HEALTH AND SAFETY CODE SECTION 34191.5 NOTICE IS HEREBY GIVEN that on September 25, 2013, at 6:30 p.m., or as soon thereafter as possible, at 41000 Main Street, Temecula, CA 92590 the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency will hold a public meeting to consider the adoption of the resolution set forth below. The proposed resolution (i) approves the Long-Range Property Management Plan (LRPMP) prepared by the Successor Agency pursuant to Health and Safety Code Section 34191.5, (ii) finds that the approval of the LRPMP is not a project pursuant to the California Environmental Quality Act, and (iii) directs the transmittal of the resolution and the LRPMP to the California Department of Finance. All interested persons are invited to appear at the time and place specified above to give testimony regarding the proposed resolution and the LRPMP. Further information may be obtained by contacting Luke Watson at 41000 Main Street, Temecula, CA 92590, or bti telephone at 951-694-6415 or by email at Luke.Watson@cityoftemecula.org �ti Susan W Jones, Secretary �/ Posted on September 16, 2013 Attachment: Oversight Board of the Successor Agency to the Temecula Redevelopment Agency Resolution OB SARDA 13-04 RESOLUTION NO. A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY APPROVING THE LONG-RANGE PROPERTY MANAGEMENT PLAN PREPARED BY THE SUCCESSOR AGENCY PURSUANT TO HEALTH AND SAFETY CODE SECTION 34191.5, DETERMINING THAT APPROVAL OF THE LONG-RANGE PROPERTY MANAGEMENT PLAN IS EXEMPT FROM THE CALIFORNIA ENVIRONMENTAL QUALITY ACT, AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH RECITALS: A. Pursuant to Health and Safety Code Section 34175(b) and the California Supreme Court's decision in California Redevelopment Association, et al. v. Arta Matosantos, et al. (53 Cal.4th 231(2011)), on February l, 2012, all assets, properties, contracts, leases, books and records, buildings, and equipment of the former Temecula Redevelopment Agency (the "Agency") transferred to the control of the Successor Agency to the Agency (the "Successor Agency") by operation of law. B. Pursuant to Health and Safety Code Section 34191.5(b), the Successor Agency must prepare a long-range property management plan which addresses the disposition and use of the real properties[and interests in real property]of the former Agency, and which must be submitted to the Oversight Board of the Successor Agency (the "Oversight Board") and the Department of Finance (the "DOF") for approval no later than six months following the issuance by DOF to the Successor Agency of a finding of completion pursuant to Health and Safety Code Section 34179.7. C. Pursuant to Health and Safety Code Section 34179.7, DOF issued a finding of completion to the Successor Agency on Apri126, 2013. D. The Successor Agency has prepared and submitted to the Oversight Board the long-range property management plan attached hereto as Exhibit A(the "LRPMP"), which LRPMP addresses the disposition and use of the real properties [and interests in real property] of the former Agency and includes the information required pursuant to Health and Safety Code Section 34191.5(c). E. Pursuant to Health and Safety Code Section 34180(j), at the same time the Successor Agency submitted the LRPMP to the Oversight Board, the Successor Agency submitted the LRPMP to the County Administrative Officer, the County Auditor-Controller, and DOF. 1 F. Pursuant to Health and Safety Code Section 34181(f�, the public was provided with at least ten days' notice of the date of the meeting at which the Oversight Board proposes to consider approval of the LRPMP. NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS A5 FOLLOWS: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. This Resolution is adopted pursuant to Health and Safety Code Section 34191.5. Section 3. The Oversight Board hereby approves the LRPMP as presented by the Successor Agency and attached hereto as Exhibit A. Section 4. The staff of the Successor Agency is hereby directed to transmit to DOF this Resolution together with written notice and information regarding the action taken by this Resolution. Such notice to DOF shall be provided by electronic means and in a manner of DOF's choosing. Section 5. The staff and the Board of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution and any such actions previously taken are hereby ratified. Section 6. This Resolution has been reviewed with respect to the applicability of the California Environmental Quality Act (Public Resources Code Section 21000 et seq.) ("CEQA"). Pursuant to the State CEQA Guidelines (14 Cal Code Regs 15000 et seq.)(the "Guidelines"), the Oversight Board has determined that the approval of the LRPMP is not a project pursuant to CEQA and is exempt therefrom because it is an organizational or administrative activity of government that will not result in direct or indirect physical changes in the environment (Guidelines Section 15378(b)(5)). Further, it can be seen with certainty that there is no possibility that approval of the LRPMP may have a significant effect on the environment, and thus the action is exempt from CEQA (Guidelines Section 15061(b)(3)). Staff of the Successor Agency is hereby directed to prepare and post a notice of exemption pursuant to Guidelines Section 15062. -2- PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency this 25 day of September, 2013. John Meyer, Chairperson ATTEST: Susan W. Jones, MMC Board Secretary STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Susan W. Jones, MMC, Board Secretary of the Successor Agency to the Temecula Redevelopment Agency, do hereby certify that the foregoing Resolution No. OB SARDA 13-04 was duly and regularly adopted by the Board Members of the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency of the City of Temecula at a meeting thereof held on the 25 day of September, 2014 by the following vote: AYES: BOARD MEMBERS: NOES: BOARD MEMBERS: ABSENT: BOARD MEMBERS: ABSTAIN: BOARD MEMBERS: Susan W. Jones, MMC Board Secretary -3- EXHIBIT A Long-Range Property Management Plan -4- Successor Agency to the Temecu la Redevelopment Agency Long F�ange Property Management Plan Approved by the Oversight Board of the Successor Agency to the Temecula Redevelopment Agency September _. 2013 -s- SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY LONG RANGE PROPERTY MANAGEMENT PLAN INTRODUCTION On June 27, 2012, Governor Brown signed into law Assembly Bill 1484 (AB 1484), a budget trailer bill that makes substantial changes to the redevelopment agency dissolution process implemented by Assembly Bill 1 X 26. One of the key components of AB 1484 is the requirement that all successor agencies develop a Long Range Property Management Plan that governs the disposition and use of the former non-housing redevelopment agency properties. This document is the Long Range Property Management Plan (LRPMP) for the Successor Agency of the former Temecula Redevelopment Agency. EXECUTIVE SUMMARY The former Redevelopment Agency acquired properties in an effort to revitalize blighted portions of the City. There are five (5) properties or parcels owned and controlled by the Successor Agency. All Successor Agency owned properties are within the Old Town District. Town Square Marketplace The former Redevelopment Agency acquired property on the north and south sides of Main Street within the Old Town District for the construction of the Old Town Parking Structure, the Town Square Park and Town Square Marketplace. The parking structure and park were completed in 2009 at which time the parking structure site and park were deeded to the City of Temecula. The Agency retained ownership of the Town Square Marketplace properties and the site(s) are currently vacant. The Successor Agency intends to sell these properties to a developer as one site. The Successor Agency will issue a request for interest and ultimately enter into a purchase as sale agreement and development agreement for the disposition of the subject property. The four (4) parcels that make up the site include: Address APN Lot Size n/a 922-360-004 10,890 sq. ft. n/a 922-360-005 10,890 sq. ft. n/a 922-360-006 10,019 sq. ft. n/a 922-360-007 10,019 sq. ft. -6- Children's Museum The former Redevelopment A�ency acquired one (1) parcel in 2000 and renovated a blighted structure to be adaptively reused as the public Children's Museum, which is owned and run by the City of Temecula. The Children's Museum is a highly successful award winning public facility that serves a vital need within the community. The Successor Agency intends to retain this property for Governmental purposes per Section 34191.5 (c). This site is includes the following parcel: Address APN Lot Size 42081 Main Street 922-036-028 19,167 sq.ft. Remainder of Report and Contact Information The remainder of this report provides detailed information on each property owned by the Successor Agency as required by Health and Safety Code Section 34191.5. Any questions or information requests related to this report should be directed to: Successor Agency to the Temecula Redevelopment Agency Community Development Department Attention: Luke Watson, Senior Planner Luke.Watson@cityoftemecu la.org (951) 694-6415 -7- • • • � . . � � ��,�.• r''�,�'�' ,� �. ' ` '�. • �� '` ,: . ,: ;.� _�._ , - - „ :! �, �^ �� ` ;: ,. - ��` `, 4 • '^ �`�'� �� \ . •� t r •. � ` - - l - � � �;�� • � �.. � �3'`.� �` r t . �t� � � �• � i ,� .. ' P . . � � � • �`��ti�. � ��•� `... • � .. , ��,�..��'� �� y '�� . . ' � �`- . � �� < i , 1` ��ti� �'� ,� �� , ! \� �� ' �� '� . j � � ,�. ♦ `� °! • \ : }? `\�� '�"�� ,�� ` _ � � :� �•' '`h�� ♦ \ '�` —' w�' '� � 1 �� •� � � . '� '' . � � ` ��* , � R," ' �• . � 0 \` \ �� ► � �'� i •. » . : � ,, �. :�__ ` �, �[ ,,. ,, u: � �'" _ r ,'� `�\� ` � . � �., _ :�. '3� �..0,�'`_i �\�l � �.� � i}.� �a . � ',f •� ` ` ,�. �-•�� ,' 1 :r: �, � � � ��,.�,� �, +r + '�` � ,� «, �a�'��•� • `. F � � , �. �, `\\ � �.i �. `� - � � ` �•� , � . � � ,�� ' �a� '� • \ .�� . �:;4 � � ,� , � • � ? �� ;S' � ..l' ' .�.�� , ,�i, � � • - .'�!� � � \� �` „ � P � ' �. i ��• .� �. � ti ,� � � � ' F ,� � "Y +. r `� %� `� ti .:�,. ,�� ,''� 0 . ..,. ;,_ �� . i} �s�> �� _�y� ,; _ �. ,�:' ♦ • . ��: �� t Yr- , � s . �� . � .. � _ f.,,� . � '� � f �'r �:,i . � , �� _� •,� .: y : p ? • � /” . �� "=; .} ' `\ /.. � �� ' �'� � .� ` t. � � 4' �� : ��' � '! �/ : �` ., ,� � � . _� . . t: �' .� . �• ��,. . ,� "� j • �_ '�a� , ` . � � � � �%' � � � . " �`�' '," • � . � �1 r� F�'x'�� .� �y :� _ � � � � � l\ �\ ,f �,. � `� ! -- � �� .:�� ♦ .,�'�.,., _ .. �N � ` \ ''' �� . y� � � - `. �' �' � � \ � �� e ` � _ � • , � �� .� 3 ' �` -� � 4 �� . ��' � ; •N.� '� �� . r . "'l� � � � j � � \ .. 0. �,� \\ , .�' � \ .`. f � . � � .. � • � �ti�`� 4� �� .... ` � �� ` , � 1 � �� :�� , y t - , � . , � �'� , �r ;: ` � .� ,� � . \ � �•�� ` . : °�� " a\ ` .\ ' B •�,, ��- . i1F57 4 � ,�, �� ,+. , � � �r � ,�3 �� "' ♦ —, �-,• f �� ," t. � *' ! w � `�� .� ,,� \ ress c�q uisition a ue at ot ize - Date Purchase n/a 922-360-004 O1/OS/2004 $550,000 10,890 sq. ft. n/a 922-360-005 06/O10/1995 $259,725 10,890 sq. ft. &12/30/1999 n/a 922-360-006 09/25/2005 & $1,275,000 10,019 sq. ft. 10/25/2005 n/a 922-360-007 Ol/OS/2004 & $920,000 10,019 sq. ft. 08/ 19/2005 Introduction The Town Square Marketplace site(s) were purchased as multiple parcels. The former Redevelopment Agency consolidated those parcels into the four (4) parcels described herein. The four (4) parcels are considered as one development site because of the unique nature and location of the sites, which flank the Town Square Park. All descriptions that follow refer to the "site" as inclusive of the four (4) parcels. Purpose of Acquisition The purpose of the acquisition was to remove blighted structures and then complete construction of the Town Square Park and the development of the mixed-use Town Square Marketplace. Current Zoning Old Town SP — Downtown Core. Property Type Vacant Lots & small free public parking lot. Estimate of Current Property Value $1,881,810. This figure represents an estimate of $45 per square (41,818 SF) foot for all four (4) parcels. Proposed Sale Value -10- While there is no proposed sale value, an estimate of sale value would match the estimate of current estimated property value of $45 per square foot or a total of $1,881,810. Proposed Sale Date The Successor Agency anticipates entering into a purchase and sale transaction within the next 18 months. Estimate of any lease, rental, or any other revenues generated by the property, and a description of the contractual requirements for the disposition of those funds The three (3) of the parcels are vacant. One Parcel has a small free public parking lot on it, taking up a portion of the parcel. The site(s) produce no revenue. Contractual Requirements for Use of Income/Revenue There are no contractual requirements currently in place. History of environmental contamination, including designation as a Brownfield site, any related environmental studies, and history of any remediation efforts The site(s) are located within the Old Town Specific Plan area which is covered by a programed environmental impact report completed in 2010. Additionally the parking lot site underwent a phase I& limited phase II environmental site assessment of the soils. Both the phase I and phase II site assessments found no contamination on the site. Description of Properties Potential for Transit-Oriented Development The site(s) are located in the Old Town District which is within the Old Town Specific Plan (OTSP) area. The Old Town District is an urban downtown with a mix of commercial, retail, civic, residential uses organized on a traditional street grid pattern that prioritizes the pedestrian. The OTSP requires the development of mixed-use projects that will continue to urbanize the district. -11- The site(s) is located near Riverside Transit Agency bus stops, a Greyhound bus stop, and the local City run Old Town Trolley stops. In addition, the site(s) will be a short distance from the future Transit Center to be located just north of the District. The overall potential for this site to develop as transit-oriented are inherent as transit infrastructure already surrounds the site. Description of the Planning Objectives of the Successor Agency The development of the site(s) would advance the planning objectives of the City of Temecula the former Redevelopment Agency and the Successor Agency. The goal of the Old Town Specific Plan, General Plan and Redevelopment Plan is to promote the Old Town District as a mixed-use urban downtown. The zoning for the subject properties is Old Town Specific Plan — Downtown Core, which has always anticipated and planned for the site(s) to be developed as a mixed-use urban development. . Brief History of Development Proposals and Activity, Including Lease of the Property The site(s) were placed on the market in early 2008 through and request for proposals (RFP) process by which the former Redevelopment Agency was seeking a qualified development partner to purchase the site(s) and enter into a development agreement for the ultimate development of the property. Due to the financial crisis the selected development partner could not execute a transaction and the project was put on hold. The intent of the former Agency, and now the intent of the Successor Agency, is to wait until the economy improves enough to place the site(s) back on the market through the same RFP process. Identify the use or disposition of the property, which could include 1) the retention of the property for Governmental use, 2) the retention of the property for future development, 3) the sale of the property, or 4) the use of the property to fulfill an enforcement obligation The Successor Agency intends to sell the property per (H&SC 34191.5 (2)). Within the next 18 months the Successor Agency intends to actively market the site(s) for sale. A request for proposals will be released and the Successor Agency will interview potential development partners to enter into a purchase agreement and development agreement for the sale and ultimate development of the property. The site(s) has unique character as it sits directly in front of the Temecula Civic Center and City Hall. The Successor Agency and City have a -12- r critical interest in the quality of development that occurs and will require special consideration of all potential development partners. -13- Children's Museum ., ; : � a �• . I \\ � �/� r' y� � •. , �'�';��.. `` � JJP �� ' ~�. % '" . '� � �" `fi � � � i w; . - � �. `�; ' \ ` ' � `C% , � ♦� �, � y f,. � �� • °. w .�� `�-��;; ° ��' 4 0 -!�!. r � � ' . t. � �` � ' * ` �t . 2 � � \ ; 9 �f , � � • 7 ♦ r , �' ` d • y � Jo . � � �, i P O. \+\ \ (S � ` •�� I � � i - S :/ M F \ ' - ress c a ue at ot ize Date Purchase 42081 Main St. 922-036-028 8/25/2000 $800,000 19,167 sq. ft. Temecula, CA 92590 lntroduction The Children's Museum site was purchased as part of the Temecula Community Theatre development undertaken by the Redevelopment Agency and the City of Temecula. The former Redevelopment Agency purchased the Children's Museum site along will a number of other parcels for the Temecula Community Theatre, Temecula Mercantile art Gallery and venue space and the Children's Museum. The site was always intended to be a City owned and run Children's Museum and it currently operates in that capacitX. The site, in conjunction with Temecula Community Theatre and the Mercantile, are part of a larger cluster of City owned and run Civic developments and uses located within the Old Town District. The -14- Children's Museum is an award winning facility garnering national recognition. The facility has become an institution within the community hosting thousands of children from within the City of Temecula and the region. Purpose of Acquisition The purpose of acquisition was to renovate a blighted structure to be owned and operated by the City of Temecula as the Children's Museum. Current Zoning Old Town SP — Civic Property Type Developed parcel. Children's Museum - Civic use. Estimate of Current Property Value $800,000. This figure represents the cost of the site at the time the former Redevelopment Agency purchased the property. Proposed Sale Value There is no proposed sale value as the Successor Agency intends to retain ownership of the property for governmental use. Proposed Sale Date No sale date proposed. Estimate of any lease, rental, or any other revenues generated by the property, and a description of the contractual requirements for the disposition of those funds The site is owned by the Successor Agency. The Children's Museum on the site is owned by the City of Temecula. The City takes in a small amount of admissions fees for the operation of the Children's Museum. -15- Contractual Requirements for Use of Income/Revenue There are no contractual requirements currently in place. History of environmental contamination, including designation as a Brownfield site, any related environmental studies, and history of any remediation efforts The site(s) are located within the Old Town Specific Plan area which is covered by a programed environmental impact report completed in 2010. Description of Properties Potential for Transit-Oriented Development The site does not present an opportunity for transit-oriented development due to the fact that it currently operates as a local civic institution and will remain in that capacity in perpetuity. Description of the Planning Objectives of the Successor Agency The development of the site would advance the planning objectives of the City of Temecula the former Redevelopment Agency and the Successor Agency. The goal of the Old Town Specific Plan, General Plan and Redevelopment Plan is to promote the Old Town District as a mixed-use urban downtown with a mix of residential, commercial, employments and civic uses. The zoning for the site is Old Town Specific Plan — Civic which has always anticipated and planned for the site to be developed as a City owned and operated public facility. Brief History of Development Proposals and Activity, Including Lease of the Property There has only been one proposal and that was for the development of a Children's Museum. Identify the use or disposition of the property, which could include 1) the retention of the property for Governmental use, 2) the retention of the property for future development, 3) the sale of the property, or 4) the use of the property to fulfill an enforcement obligation -16- The Successor Agency intends to retain the property for Governmental use per (H&SC 34191.5 (2)). -17-