HomeMy WebLinkAbout440 RDA_CCv0001.pdf RESOLUTION NO. 440
A RESOLUTION OF THE GOVERNING BOARD OF THE REDEVELOPMENT
AGENCY OF THE CITY OF REDLANDS RECEIVING AND FILING THE
MIDTERM REVIEW OF THE FIVE YEAR IMPLEMENTATION PLAN FOR
THE REDLANDS PROJECT AREA
WHEREAS, Section 33490 of the California Community Redevelopment Law, Health
and Safety Code Section 33000 et seq. (the "Law"), requires that every five years the Redlands
Redevelopment Agency ("Agency") must adopt a Five Year Implementation Plan for its
redevelopment project; and
WHEREAS, as required by the Law, the Agency prepared and adopted a Five Year
Implementation Plan for 2004/05 to 2008/09 ("Implementation Plan") pertaining to the Redlands
Redevelopment Project Area("Project Area"); and
WHEREAS, pursuant to the Law, at least once within the five year term of the
implementation plan(no earlier than two years and no later than three years after the adoption of
the implementation plan), the Agency shall conduct a public hearing and hear testimony from all
interested parties for the purpose of reviewing the redevelopment plans and the corresponding
implementation plan for the redevelopment projects, and evaluating the progress of the
redevelopment projects ("Midterm Review"); and
WHEREAS,the Midterm Review should examine the specific goals and objectives of the
Agency for the Project Area, the specific programs and potential projects, estimated expenditures
proposed to be made during the five year term of the Implementation Plan for the Project Area,
and an explanation of how the goals and objectives, programs and expenditures will eliminate
blight within the Project Area; and
WHEREAS, the Agency has reviewed the Implementation Plan, and as required by
Section 33490 of the Law, a public hearing was held by the Agency on December 15, 2009, for
the purpose of reviewing the Redevelopment Plan and the corresponding Implementation Plan
for the Project Area and evaluating the progress of the Project Area and Implementation Plan,
and the testimony of all persons interested in the matter was heard; and
WHEREAS, notice of the public hearing was published in the Redlands Daily Facts for
three consecutive weeks, and the notice was posted as required by Section 33490 (d) of the Law
and Government Code Section 6063; and
WHEREAS, the Agency has reviewed and considered the proposed Midterm Review of
the Implementation Plan;
NOW, THEREFORE, BE IT RESOLVED by the Governing Board of the
Redevelopment Agency of the City of Redlands as follows:
I
Section 1. The facts set forth above in this Resolution are true and correct.
Section 2. The Agency hereby receives and files the Midterm Review of the Five
Year Implementation Plan for the Redlands Project Area, in substantially the form currently on
file with the Agency Secretary and presented to the Agency at the public hearing on December
15, 2009, subject to any further minor, technical or clarifying changes that may be approved by
Agency counsel.
Section 3. The City Clerk shall certify to the adoption of this Resolution and enter it
into the book of original resolutions.
Section 4. This Resolution shall take effect upon the date of its adoption.
ADOPTED AND APPROVED this 15th day of December, 2009.
Pat Gilbreath, Chairman
ATTEST:
Lorri oyzer, S4et
1, Lorrie Poyzer, Secretary to the Redevelopment Agency of the City of Redlands, do hereby
certify that the foregoing Resolution No. 440 was duly adopted by the Governing Board of the
Agency at a regular meeting thereof, held on the 15th day of December, 2009 by the following
vote:
AYES: Councilmembers Bean, Harrison, Gallagher, Aguilar; Mayor Gilbreath
NOES: None
ABSENT: None
ABSTAIN: None
Lorrie Poyzer,
2
j Exhibit A
DRAFT
RECEIVED
Revised 12/3/09
DEC s zoos
kED4NDS REDLANDS CITY CLERK
S-
R111
MIDTERM REVIEW OF THE FIVE YEAR
IMPLEMENTATION PLAN
FOR THE REDLANDS REDEVELOPMENT
PROJECT AREA
Adopted:
Resolution No.
ACKNOWLEDGMENTS
Redevelopment A-gency Board of Directors
JON HARRISON, Chairperson
PAT GILBREATH, Vice Chairperson
JERRY BEAN, Board Member
MIKE GALLAGHER, Board Member
PETE AGUILAR, Board Member
Redevelopment Agency Staff
ENRIQUE MARTINEZ, Executive Director
DANIEL G. HOBBS, Redevelopment and Economic Development Director
JOSEFINA AGUILAR, Redevelopment Project Manager
TINA KUNDIG, Finance Director and City Treasurer
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Five Year Implementation Plan Midterm Review
INTRODUCTION
This document is the Midterm Review of the Five-Year Implementation Plan
("Midterm Review") for the Redlands Redevelopment Project Area ("Project Area")
of the Redevelopment Agency of the City of Redlands ("Agency"). Pursuant to
California Community Redevelopment Law ("CRU) Health and Safety Code
Section §33490(c), the Midterm Review evaluates the Agency's previously stated
goals and objectives, anticipated projects, programs, and estimated expenditures
for the five-year planning period of 2005-2009. To monitor the progress of the
Agency, in relation to its Implementation Plan, the Agency submits its annual
reports to the California State Controller and the Department of Housing and
Community Development.
The City Council of the City of Redlands ("City') created its Redevelopment Agency
on September 26, 1972 by Ordinance No. 1500 of the Redlands City Council. The
Project Area has been amended on nine occasions and is undergoing an additional
amendment which started in 2008 and should be completed in 2009. The Project
Area consists of approximately 860 acres located in the central part of the City and
includes the historic downtown district and surrounding housing, commercial, and
industrial areas. The Project Area boundaries extend to Alabama Street on the
west, to Pine and Vine Streets to the south, the SR30 and 1-10 interchange and
Colton Avenue to the north, and Church Street to the east.
The time limitations of the constituent areas of the Project Area, as codified in
Ordinance 1500 and 1575 are as follows:
Established
SubareaAdoption Adoption Date Ordinance No. Termination Date Debt Repayment Date
Original Project Area Sept.26, 1972 1500 Sept.26,2025 Sept. 26,2035
1976 Added Area Feb. 17, 1976 1575 Feb.17,2029 Feb. 17,2039
A map depicting the Project Area is presented in Exhibit A.
The Agency, in June 17, 2008, adopted the North Redlands Revitalization Project
Area. The Agency will include the newly adopted project area's goals, objectives,
and activities in the Agency's 2009/10-2014/15 Five Year Implementation Plan.
The Project Area Five-Year Implementation Plan 2005-09 ("Implementation Plan")
presented the goals and objectives, anticipated projects and programs, and
estimated expenditures for 2005 through 2009. The adoption of the
Implementation Plan did not constitute an approval of any specific program or
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Five Year Implementation Plan Midterm Review
project, as these approvals are considered as the individual projects are
implemented. The Implementation Plan provides a framework to guide the Agency
to affirm its goals and evaluate its progress.
The Implementation Plan also has implications for the disposition of Agency
property and for the Agency's funding of public improvements. When the Agency
conveys property acquired in whole or in part with tax increment, CRL Section
33433 requires that the Agency prepare a report containing an explanation of why
the sale or lease of the property will assist in the alleviation of blighting conditions
together with supporting evidence justifying the use of tax increment. Additionally,
prior to the Agency paying for the cost of a public improvement or facility, the CRL
Section 33445, requires the Agency to find that the payment of funds for the cost of
the improvements will assist in the alleviation of blighting conditions, or provide
affordable housing, and is consistent with this Implementation Plan.
Midterm Review of Implementation Plan is Not a "Project" Under CEQA
Pursuant to CRL Section 33490 (a)(1)(B), the Midterm Review of this
Implementation Plan does not constitute a project within the meaning of Section
21000 of the Public Resources Code (the "California Environmental Quality Act'
[CEQA]). Further, the Midterm Review does not constitute an approval of any
specific program, project, or expenditure. Therefore, inclusion of a program,
project or expenditure in the Implementation Plan does not eliminate the potential
for CEQA review at the time of approval, to the extent that it would be otherwise
required.
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Five Year Implementation Plan Midterm Review
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Five Year Implementation Plan Midterm Review
PROJECT AREA BACKGROUND
The Redlands Redevelopment Plan was first adopted by the City Council on September 26,
1972 by Ordinance No. 1500 and has been subsequently been amended nine (9) times:
• February 17, 1976 by Ordinance No. 1525 to add territory to the Project
Area.
• December 16, 1986 by Ordinance No. 1974 established limitations
applicable to the Redevelopment Plan including the tax increment to be
collected by the Agency, the time limit to incur debt, and extended the
eminent domain authority for twelve years.
• November 5, 1996 by Ordinance No. 2336, in accordance with provisions
of AB 1290, modified the time limit to incur debt and the time limit to
collect tax increment funds.
• December 19, 2000 by Ordinance No. 2464, reestablishing the time limit
for the commencing of eminent domain proceedings for non-residential
properties for a period of twelve years, and established the land use
designations contained in the General Plan and subordinate land use
regulations as the land uses for the Amended Project Area.
• October 7, 2003 by Ordinance No. 2556 reestablished the Agency's
authority to acquire residential property in the Project Area through inent
domain.
• November 4, 2003 by Ordinance No. 2560 extending the Project Area's
effectiveness by one year
• April 17, 2007 by Ordinance No. 2657 extending the Redevelopment
Plan's effectiveness by two years.
• June 19, 2007 by Ordinance No. 2666 adopting an eminent domain
program for the Project Area.
The Agency is currently in the process of amending the Redevelopment Plan to extend the
Project Area effectiveness by ten years and increasing, by ten years, the terms during which
the Agency may collect tax increment to repay debt. It is important to note that this
amendment to the Project Area will trigger the Agency's inclusionary housing obligations in
the Project Area as required by Health and Safety Code Section 33413(b) and Sections
33333.10 subsections (f) and (g).
Section 33413(b) requires that 30% of all new and substantially rehabilitated dwelling units
developed by the Agency should be affordable to families of low and moderate income and
that no less than 50%of those units shall be made available to very low income families.
In addition, 15% of all, privately developed and/or Agency assisted, new and substantially
rehabilitated dwelling units developed within the Project Area are to be made available to
families of low or moderate income at an affordable cost and not less than 40% of those
units developed within the Project Area shall be made affordable to families of very-low
income.
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Five Year Implementation Plan Midterm Review
Among other restrictions, Section 33333.10 subsections (f) and (g) will require the Agency
to deposit no less than 30%of the tax increment into the Housing Fund commencing on the
first fiscal year after the date of the amendment to be spent on increasing, improving and
preserving affordable housing for low and moderate income families. The Agency,
however, is limited to spending no more than 15%of the housing fund, in a five year period,
on families of moderate income.
The Project Area includes approximately 860 acres and is generally located in the central
part of the City. The Project Area includes the historic downtown district and surrounding
commercial and residential areas. The Civic Center, public library, the historic Santa Fe
Depot and citrus packing house and other various historic buildings, along with retail
shops on State Street within the historic downtown district, are located in the
southeastern portion of the Project Area. The main objective of the adoption of the
Project Area is to eliminate blighting conditions by encouraging new investment within the
City's downtown area and surrounding neighborhoods.
BLIGHT ELIMINATION
The Agency documented blighting conditions in the Project Area at the time of the
adoption and are currently outlined in the current Five Year Implementation Plan
including:
Old, deteriorating, and obsolete structures, defective design and character of
physical construction, mixed character and shifting of uses,
• Faulty exteriors spacing,
• Depreciated values, impaired investment, and social and economic maladjustment,
• Parcels of irregular size and/or shape,
• Inadequate public improvements, and
• Inadequate provision of open space and recreational facilities.
The Five Year Implementation Plan identifies building deterioration, aging infrastructure,
and lack of maintenance as contributing factors to the widespread presence of physical
blight. These structures presented insufficient parking, outdated signage and facades,
and were usually older and underdeveloped. The presence of these buildings has
contributed to the decline of property values and investments in the Project Area.
In addition, multiple incompatible uses have lead to circulation problems, land use
incompatibility, traffic safety issues, noise pollution, and inadequate on-site parking, which
further reduce the interest of private investors. Redevelopment opportunities are also
impaired by the large percentage of irregular shaped and small parcels, along with land
locked parcels and flag lots. Most of the blight present in the Project Area is confined to
privately-owned properties. Public infrastructure improvements were also identified as
being necessary for redevelopment of the Project Area.
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Five Year Implementation Plan Midterm Review
The Agency developed five (5) goals to address the blighting conditions. The Midterm
Review assessment of each goal is addressed by the following bulleted accomplishments.
The Agency has been extremely active in remedying blighting conditions within the
Project Area during this Implementation Plan planning period.
Goal #11: Provide a high-quality pedestrian oriented development character
consistent with the Downtown area.
The Agency detailed several significant projects in the Implementation Plan that are
ongoing in the development process and intended to fulfill the desired goal of expanding
and providing a pedestrian oriented development consistent with the Downtown Area.
• Krikorian Theater Expansion Proiect- The project includes the expansion of the
theater complex on Eureka Street including the addition of screens and mixed use
retail and residential units and parking facilities to serve the project. The Agency
entered into an Exclusive Negotiation Agreement ("ENA") with Showprop LLC, a
subsidiary of Krikorian Premier Theaters, to carry out the expansion on June 21,
2005. The ENA was extended on several occasions to continue the negotiations;
however, due to the slowing economy the Showprop group abandoned its
expansion plan for the Krikorian Theater.
• Village at Redlands Proiect- Redlands Mall revitalization includes the renovation
of the current Redlands Mall into an open-air "life style" center with approximately
190,000 square feet of retail and live/work units and more than 200 dwelling units
above ground floor retail. Negotiations with Redlands Mall, L.L.P., a subsidiary of
General Growth Properties Inc., occurred during 2007 after the signing by the
Agency of a Funding Agreement on January 17, 2006. General Growth
Properties, Inc. has suspended the expansion due to the national economic
slowdown.
• Civic Center and Safety Hall Revitalization Proiect- On September 19, 2006
the Agency approved an Exclusive Negotiating Agreement with Galaxy Holdings,
LLC for the development of a multi-story office complex at Redlands Boulevard
and Kansas Street as part of a plan to replace the Safety Hall and the Civic
Center. Galaxy Holdings privately acquired parcels within the project area;
however, it was unable to acquire all parcels. During 2008, the Agency reviewed
various alternatives and options for a new Civic Center and Safety Hall and is
investigating possible alternatives to either construct a new Civic Center/Safety
Hall or rehabilitate an existing office structure.
• Shopper's Lane/Gas Lamp District Proiect (Downtown Specific Plan)- A
Downtown Specific Plan is currently under review and is close to being completed
and adopted. The Plan aims at providing a pedestrian oriented environment that
focuses on the character and density of the old Redlands Town Center. The Plan
includes a large number of underdeveloped properties that provide an opportunity
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Five Year Implementation Plan Midterm Review
to improve and increase the City's local economy by providing shopping, service
and entertainment facilities within the downtown area. The Plan also incorporates
a large number of historic buildings including the Santa Fe Depot, citrus packing
house and turn of the century structures on Orange Street.
• The Santa Fe Depot Prosect- The Santa Fe Depot building revitalization plans
include two retail areas, a restaurant, construction of a parte cochere and parking
lot improvements. The retail areas are 1,113 square feet and 2,238 square feet
and are located within the colonnade and enclosed by glass features. In addition,
it includes a 5,700 square feet restaurant that will occupy the existing facilities of
the train depot building and include a dining area enclosed by glass within the
colonnade. The porte cochere addition along the south elevation of the existing
building will expand the parking lot area to include a total of 72 parking stalls with
eight of these spaces located along Shoppers Lane.
• RCIC Office Expansion Project- The project involves a proposed mixed-use
development with retail, office, and entertainment components, and a parking
structure located at the northeast intersection of 7th Street and Citrus Avenue.
The project has been put on hold due to the current economic downturn.
• Core Block Parking Structure and other Parking- The Agency commissioned
several studies regarding the development of a multi-story parking structure and
alternative locations. As of the fourth quarter of 2008, a large percentage of
proposed downtown developments that the planned structure would have served
were abandoned due to the declining economy. Preliminary studies evaluating
traffic circulation, parking areas and parking structure locations for the downtown
area have been completed. At this time, the City is pursuing efforts to perform a
focused environmental and preliminary engineering design for the parking
structure identified at Stuart Avenue and Third Street location. This parking
structure location is adjacent to the future Redlands Downtown Rail Station and
supports the business and residential downtown development objectives. This
next step is subject to approval of funds under the Transportation Community and
System Preservation Program.
• Galaxy Commercial Properties- The project involves the rehabilitation of the
Light House and the Mitten Building and development of a transit-oriented village
surrounding these structures. The project has been put on hold due to the
economic downturn.
• Pacific West Coast Investments-The project is a transit oriented development in
the downtown core which includes a Metro Link Station. Phases of the project
include mixed-use retail, residential, office, entertainment components, parking
structure, and auto dealerships. The Agency will continue to work with SANBAG to
assure adequate City representation on the decision-making panel and review
related impacts.
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Five Year Implementation Plan Midterm Review
Goal #2: Provide opportunities for the expansion and development of small
businesses that provide local services.
The Agency detailed several significant projects in the Implementation Plan that are ongoing
in the development process and intended to fulfill the desired goal of expanding the small
business base and local services within the Project Area.
• Gateway Project- Development of a retail commercial center located at the
southeast intersection of Pearl Avenue and Eureka Street, which would include
office and housing components. In 2006, the Agency worked with a developer to
complete Phase I of the project consisting of approximately 10,000 square feet of
retail/restaurant and 2,500 square feet of second floor office space and parking on
an approximate 0.80 acres. Phase 11 of the project is projected to start in the fourth
quarter of 2009, which includes approximately 8,500 square feet of retail/restaurant
space and 8,500 square feet of second floor office space and parking along Pearl
Avenue at Ruiz Street, adjacent to Phase I. In addition, the Agency extended the
Exclusive Negotiation Agreement, originally approved on June 6, 2006, to continue
working with Investwest in developing a strategy for Phase 11, which includes
possible land assemblage along the east side of Eureka Street beginning at the
corner of Pearl Avenue down to the northeast corner of Eureka Street and Stuart
Avenue. The amended ENA also includes a Phase III which envisions a mixed-use
development comprised of commercial and urban residential components.
• Promenade Project- A commercial project consisting of approximately 160,000
square feet of retail at the southwest intersection of Pearl Avenue and Eureka
Street. On August 7, 2007, the Agency Board approved an Owner
Participation/Disposition and Development Agreement with Redlands Land Holding,
LLC, a subsidiary of General Growth Properties. As of May 2008, General Growth
privately acquired most of the parcels located within the Phase I site area, however;
due to the nation's declining economy, the developer has suspended any further
acquisition and development activities for the project for at least the next 18 to 24
months.
• Tri-City Shopping Center Revitalization and Renovation- The project includes
the renovation of the existing shopping center and the potential re-alignment of
Redlands Boulevard, Colton Avenue, Alabama Street and the BNSF railroad
crossing. The project has been put on hold due to the economic downturn.
Goal #3: Provide public improvements for traffic circulation, flood control, utility
services and aesthetic amenities that will attract new private investment
and economic development.
100-Year Flood Plan- The Agency will continue efforts to conduct a study
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Five Year Implementation Plan Midterm Review
assessing the potential hazards associated with the flood plain, local flood control,
and storm drainage with the Municipal Utilities and Engineering Department.
• Promote Public Open Spaces and Public Plazas- Concept plans have been
submitted for the renovation of Ed Hales Park located on the northeast corner of
State and Fifth streets. The renovation will eliminate failing turf and landscaping
areas and include the installation of decorative pavers and planter areas to create
an urban plaza. The redesign of the park will stimulate activity in the park and
provide additional dining opportunities for downtown restaurants. Park lighting is
being increased to enhance security. Construction was estimated to commence in
the summer of 2009. However due to prohibitive costs, the project has been
suspended.
• Improve and increase landscaping, street trees, street furniture, and
lighting- New street furnishings including benches and trash receptacles were
purchased and installed during the summer of 2007 on State Street between
Orange Street and Redlands Boulevard, and on Orange Street between Citrus
Avenue and Interstate 10. Replacement of decorative bollards and lampposts in
the downtown were purchased and installed in the summer of 2009.
Goal #4: Preserve historic buildings and sites.
The Agency has encouraged the preservation of the City's historic buildings by
implementing a number of programs that target historic buildings throughout the Project
Area.
• State Street and Orange Street Facade Improvements- In January 2008,
storefront programs were approved for minor faqade improvements which include
paint, awnings, signs, and anti-graffiti film. More substantial programs have been
established for commercial rehabilitation and the purchase of fagade easements.
Both programs have been initiated and have been utilized by several downtown
merchants.
• Shopper's Lane and Gas Lamp District (Downtown Specific Plan)- The
project involves the rehabilitation of a number of historic buildings, including the
Santa Fe Depot, citrus packing house, and turn of the century structures on
Orange Street. The rehabilitation of these structures is outlined in the Downtown
Specific Plan which is currently under review and is close to being completed and
adopted. The Plan aims at providing a pedestrian oriented environment that
focuses on the character and density of the old Redlands Town Center. The Plan
includes a large number of underdeveloped properties that provide an opportunity
to improve and increase the City's local economy by providing shopping, service
and entertainment facilities within the downtown area. The Plan also incorporates
a large number of historic buildings including the Santa Fe Depot, citrus packing
house and turn of the century structures on Orange Street.
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Five Year Implementation Plan Midterm Review
• Historic Residence Rehabilitation Program- The program provides historically
significant residential properties with up to $50,000 in the form of a deferred loan
for structural repairs and to address code deficiencies. Eligible applicant
properties within the Redevelopment Project Area may be owner or renter
occupied. Homes located outside of the Redevelopment Project Area must be
owner occupied.
Goal #5: Improve the accessibility, traffic flow, and parking availability within
commercial areas.
• Core block parking structure and Citrus Street parking structures and/or
parking lots- In 2006, the Agency retained International Parking Design to
conduct a parking structure analysis for two potential parking 'structure sites in
downtown: Citrus Avenue and Sixth Street, and Citrus Avenue and Eureka Street.
In addition, the Agency has actively pursued the reconstruction and realignment of streets
and roadways throughout the Project Area to improve traffic flow and accessibility to the
commercial areas.
HOUSING PRODUCTION PLAN
California Redevelopment Law (CRL) requires that 20% of property tax increment
revenue received by a redevelopment agency from a project area be set-aside for the
development of affordable housing for very-low, low and moderate income households.
In addition, CRL also states that any housing units available to very-low, low and
moderate income households that have been removed or destroyed as a result of a
redevelopment project, must be replaced.
CRL requires the Five Year Implementation Plan to include a housing production program
for five- and ten- year periods as well as for the entire life of the project. Specifically, the
housing production plan must estimate the number of housing units to be developed,
substantially rehabilitated, price restricted, or destroyed.
In accordance with CRL Section 33413(d)(1), pre-1976 Project Areas are not subject to
the inclusionary housing production requirements of Section 33413 as a result of Agency
produced units, or the production or substantially rehabilitation of market-rate units by
private developers. The Agency is, however, required to replace housing removed or
destroyed from the Project Area on a one-for-one basis and is required to spend the
Housing Funds in a timely manner.
While the Agency added territory to the Project Area on February 17, 1976, by Ordinance
No. 1525, the added area did not contain any housing and is currently the site of
commercial business. Housing requirements would have applied only to the added Area.
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Five Year Implementation Plan Midterm Review
It is important to note that the amendment currently proposed to the Project Area will trigger
the inclusionary housing obligations in the Project Area as required by Health and Safety
Code Section 33413(b) and Sections 33333.10 subsections (f) and (g).
Section 33413(b) require the Agency to provide a minimum of 30% of all new and
substantially rehabilitated dwelling units developed by the Agency should be affordable to
families of low and moderate income and no less than 50% of those units shall be made
available to very low income households. In addition, 15% of all, privately and/or Agency
assisted, new and substantially rehabilitated dwelling units developed within the Project
Area shall be made affordable to families of low or moderate income and not less than 40%
of those units shall be made affordable to families of very-low income.
Among other restrictions, Section 33333.10 subsections (f) and (g) require the Agency to
deposit no less than 30% of the tax increment into the Housing Fund commencing on the
first fiscal year after the date of the amendment to be spend on increasing, improving and
preserving affordable housing for low and moderate income families. The Agency,
however, is limited to spending no more than 15% the housing fund, in a five year period,
for families of moderate.
The Implementation Plan Housing Production Plan projected an affordable housing need
over the ten year planning period of 471 units. The Agency has assisted 16 units since
the adoption of the Implementation plan in 2005.
Based on funds availability, the Agency will continue to pursue its housing production
goals through the following housing programs.
• First Time Home Buyer Program
• Emergency Grant Program
• Neighborhood Revitalization Program
Additionally, when funds are available, the Agency will assist developers in the creation of
restricted affordable housing within the Project Areas.
The Agency carried out the programs above using Housing Funds totaling $1,267,382 in
fiscal year 2007-2008.
AGENCY FINANCIAL STATUS REPORT
The Agency presented a preliminary five-year budget for the Redevelopment
(Nonhousing) Fund in the Implementation Plan, The Agency adopts its budget on
an annual basis; as such, actual revenues and expenditures may differ from those
forecasts presented in the Implementation Plan and are therefore subject to change.
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Five Year Implementation Plan Midterm Review
Projections of revenues and expenditures contained within the Implementation Plan
were based upon the assumptions delineated below:
• Revenue and expenditures for fiscal year 2005-06 were based on the
Agency's approved budget at the time of document preparation.
• Future tax increment revenues were projected based upon a 2.92% increase
in the secured assessed value in the Project Area.
• Tax increment revenue projections include projected revenues from new
development occurring within the Project Area.
• Interest earnings were estimated based on net revenues and beginning fund
balances.
• Taxing agency payments from the non-housing fund have been calculated
pursuant to all existing agreements and Section 33607.5 of the CRL.
• Personnel and Operations expenditures were based on the City budget and
forecasts from the City Finance Department.
• Capital project costs were obtained from staff estimates.
The Agency reported $6,336,910 in gross tax increment in Fiscal Year 2007-08.
After disbursements to taxing entities and the 20% housing set-aside deposit, the
Agency is projected to retain $4,978,741 in net tax increment, which may be utilized
to address the Agency's stated redevelopment goals through various projects and
programs identified in the Implementation Plan and this Midterm Review.
ADMINISTRATION OF THE IMPLEMENTATION PLAN
As detailed in the Introduction of this Midterm Review, the Agency is required to
produce an Implementation Plan every Five-Years. After adoption of the first
Implementation Plan, a new plan is to be adopted every five years either in
conjunction with the Housing Element cycle or the Implementation Plan cycle.
Implementation Plan Adoption Process
Each Implementation Plan must be presented and adopted at a duly noticed public
hearing of the Agency. Notice of the public hearing must be conducted pursuant
to Section 33490 of the CRL. The Notice must be published pursuant to Section
6063 of the Government Code, mailed at least three weeks in advance to all
persons and agencies that have requested notice, and posted in at least four
permanent places within the Project Area for a period of three weeks. Publication,
mailing, and posting shall be completed not less than 10 days prior to the date set
for hearing. The Agency may amend the Implementation Plan at any time after
conducting a public hearing on the proposed amendment.
Mid-Term Implementation Plan Review Process
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Five Year Implementation Plan Midterm Review
At least once within the five-year term of the Implementation Plan, the Agency
must conduct a public hearing and hear testimony of all interested parties for the
purpose of reviewing the redevelopment plan and the corresponding
implementation for each redevelopment project. This hearing must take place no
earlier than two years and no later than three years after the adoption of the
Implementation Plan. The midterm review must be presented and adopted at a
duly noticed public hearing of the Agency. Notice of the public hearing must be
conducted pursuant to this Section 33490 of the CRIL. The Notice must be
published pursuant to Section 6063 of the Government Code, mailed at least three
weeks in advance to all persons and agencies that have requested notice, and
posted in at least four permanent places within the Project Area for a period of three
weeks. Publication, mailing, and posting shall be completed not less than 10 days
prior to the date set for hearing.
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