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Home My WebLink About212 RDA_CCv0001.pdf RE-SOLUTION NO 212 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF RED LANDS FINDING THAT IN CONNECTION WITH THE REDLANDS REDEVELOPMENT PROJECT FOR FISCAL YEAR 1988-89 THE COMMUNITY IS MAKING A SUBSTANTIAL EFFORT TO MEET EXISTING AND PROJECTED NEEDS FOR HOUSING AFFORDABLE TO PERSONS AND FAMILIES OF LOW AND MODERATE INCOME, AND THAT SUCH EFFORT IS EQUIVALENT IN IMPACT TO Tim FUNDS OTHERWISE REQUIRED TO BE SET ASIDE PURSUANT TO SECTIONS 33334.2 and 33334.6 OF THE CALIFORNIA COMMUNITY REDEVELOPMENT LAW. WHEREAS, the Redevelopment Plan ("Redevelopment Plan") for the Redlands Redevelopment Project ("Project") in the City of Redlands was approved by the I tils C4ty Redevelopment Agency and 1, Council of the City of Redlands on September 26, 1972, and amended on February 17, 1976: and WHEREAS, the Redevelopment Agency is erigaged in activities necessary and appropriate to carry out the Redevelopment Plan for the Redlands Redevelopiment Project; and WHEREAS, Section 33334,6(c) of the California Community Redevelopment, Law (Health and Safety Code, Section 33000 et seq.) IFISC) provides that unless the Redevelopment Agency, by resolution, makes one of the findings described in paragraphs (1) through (3), Inclusive, of 1 Section 33334.2(a), not less than 20 percent of the tax increment reveziues allocated to the Agency for the Project pursuan4 to HSC Section 33670 for the 1985-86 Ifiscall 1year and each Succeeding fiscal year shall be deposited into a Low and Moderate Tneome Housing Fund for the Project established pursuant to 1-11SC Section 333134.3 to be used for the put-poses set forth in HSC Section 33334.2; and WHEREAS, HSC Section 33334.2(a)(3) provides that the Redevelopment Agency may find, by resolution, annually, that a substantial effort is being made to meet its existing and projected housing needs and 'chat contribu4ions of local funds used to increase and improve the supply of housing affordable to persons and families of low or moderate income is equivalent in impact to the funds otherwise required to be set aside pursuant to HSC Section 33334.2; and WHEREAS, the Redevelopment Agency has allocated for fiscal year 1988-89, $500,000 of discretionary resources of the Agency as a direct financial contribution toward the development of a senior citizen housing project known as Casa de la Vista, which funds are described in Exhibit A attached hereto and incorporated herein, and WHEREAS, the residents of said senior citizen housing project are required to be persons of low and moderate income pursuant to guidelines of the U.S. Department of Housing and Urban Development, which is assisting in the financing of said project; and WHEREAS, the Redevelopment Agency has rerte-,x-e,-15 and considere�d all the fa-ctual info rmaticn,-i set forth and referenced in Exhibit A. NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS does hereby resolve as follows. SEC'TI 1 0'N 1. Pursuant to the guidelines of HSC, Section 33334.2(a)(3), the Agency finds for fiscal year 1.988-89 that based on the information presented a substantial effort is being made to meet its existing and projected housing needs and that contributions by the Redevelopment Agency to increase and improve the supply of housing affordable to persons or families of low or moderate income are equivalent in impact to the funds otherwise required to be set aside. 'S'ECNTIO2. The Agency directs that, pursuant to the above finding, no deposit shall be made to the Low and Moderate Income Housing Fund for the Redlands Redevelopment Project for fiscal year 1988-89. SECT!'ON 3. The Secretar, of the Redevelopment A.-ency is directed, within ten days following the adoption of this resolution, to send a copy of this resolution, together with 'Exhibit A to the Department of Housirl--- and Communit-,Y Development t-.-)f the State of California. PASS)ED, APPROVED AND ADOPTLS 21stDAY OF' March 1989. Carole Beswick., CHATRMAN A T T E S'1-- AS TO FORM;- Daniel E. Olivier, AGENCY COUNSEL EXHIBIT A REDLANDS REDEVELOPMENT PROJECT LOW AM MODERATE INCOME HOUSING EQUIVALENT EFFORT FINDING FOR 1988-89 Estimated tax increment revenue: $ 2,478,546 (1) 20% set-aside: 495,709 Agency funds contributed toward low and moderate income housing: Land Acquisition cost $ 320,000 (2) Less: Land Sale Proceeds 150,r000 (3) Land Assemblage contribution $ 170,000 (4) Additional Amenities contribution $ 31130,500 (5) TOTAL AGENCY CONTRIBUTION $ 500,500 (1) Figure reflects calculation of Katz, Hollis, Goren & Associates of incremental tax revenue based on taxable value figures and tax rates provided by the San Bernardino County Auditor/Controller for 1988-89. (2) Figure reflects land acquisition cost for the project site. Please note, original cost of parcel was $440,025 (Cashier's Check - 2A) ; however, property has since been subdivided into Parcel's No. I and 2 (Parcel Vlap - 2B) . Parcel 2 is the project site (85,889 Sq. Ft. @ $3.72 = $320,000) . The Agency is to retain Parcel No. 2. 1 (3) Figure reflects the amount the redeveloper will pay for Parcel No. 1, pursuant to the Disposition and Development Agreement (DDA) executed on October 1, 1986 (See attached extract from that certain DDA, page D-6) . (4) Total land assemblage contribution, pursuant to DDA (See attached extract from that certain DDA, Page D-6) . (5) Total amenities contribution: Offsite Public Improvements - $59,000 and Non-Mortagageable Amenities, $271,500 (See attached extract from that certain DDA, page D-5. REFERENCE 2A 0630 -74074 - 1 BANKOF MERIC CASHIER'S CHECK REDLANDS BRANCH t REDLANDS,CALIFORNIA 3 `� u - .r. DATE_._ _ _y,. k. 16-66/1220, PAY-TO THE ORDER OF77 s44Q102S-0.0—* � '^^� #" } `F $ t 6 �i�°c.• DOLLARS I r Authorized Soiatufe ` It'0 740 7It"' 1: L 2200066 L`1: 0 6 30 21118 S L00 r ESCROW TRUST RECEIPT NO. 1014 GUARDIAN ESCROWS INC. _ 412 E. STATE S T E E T s SUITE 2 COMPANY 357 ? OFFICE 1 ► RE ILA ?StCA. ESCROW Na. DATE 4166 10-21-83 RECEIVABLE Na. RECEIVED OF 11 l Redevela mend Aneyc of the Cid of Redlands I E' FOUR HUNDRED,.FORTY TIiOUSAND WRNY FIVE AND NO/10{} dC?LLARS _440,025,00M €; ----- # CASH CASHIER'S CHEEK CHECKS - 440 025.00 RECEIVED AFTER HOURS (j FROM BUYER L SELLER I nraar 16-66 r cHECKIN3 nccauNr NO. Cashiers Check No. 0630 74074 BY M -107 C-U5TOMER CC)PY R �RRE-�GE 2B _JK� 41 T{4 OF STIS- ZZ Alt- Z it 1 f"� �4 ti3 '�S Y r « 4"' �• 'i �\ . i .. sa V L 1 ♦ 1 �-jw J � � 'hy .�t •� s, t AN ''••,,,1 it i ''• tit •i ° tit REFERENCE 3 AND 4 limited to easements and rights of vehicular access, pedestrian access, parking , sanitary sewers , storm drains , water , electrical power , telephone, natural gas , etc. 7 E. S-t--reet,/A'Llev/Riqh��--o--�-Wav ',- acations The Agency shall initiate the vacating and abandon- ment of streets, alleys or other rights-of-way within the Site, if any, determined by the Agency to be necessary for the development of the Site. F. Agency ' s Financial Contributions The Agency ' s total financial contributions for the Redland ' s Senior Housing Project shall consist of : (1) Cash disbursement totaling an amount estimated mated to be, but in no event exceeding, $330 , 500 . 00 for payment of the costs of the Offsite Public Improvements and Non-Mortgageable Amenities described in Sections A and 3 of Article III of this Exhibit "D" ; and ( 2 ) A writedown of the land cost of the Site of $170 , 000 . 00 ( i . e. , Agency ' s Site acquisition cost of $320 , 000 . 00 less sales price of Site to Redeveloper of $1.50 , 000 . 00 = $170 , 000 . 00 ) . T h e Agency' s cash contributions described above shall be deposited by the Agency into the escrow described in Section 4 . 2 of the Agreement and upon close of such escrow shall be disbursed by the Escrow Agent as JI-follows : ( i ) all sums allocable to Off-site Public Improvements shall be paid by the Escrow Agent into a HUD approved neutral depository _ � account and shall be disbursed from such depository account to pay for Offsite Public improvement costs in accordance with disbursement procedures approved by HUD; and ( ii ) all sums allocable to Non- Mortgageable Amenities shall be paid by the Escrow Agent either into a depository account controlled by HUD or shall be disbursed directly from escrow to cover project costs and expenses as approved by HUD. In the event any of the funds allocable to s 4 Non-Mortgageable Amenities A� not otherwise expended directly for project costs and expenses or disbursed into a HUD controlled dopository account as described above, such funds shall be deposited D-6 REFERENCE 5 A. Offsite Public Improvements The Agency, subject to the terms and limitations set forth in Article IV of this -Exhibit "D" , shall pay an amount not to exceed $59 , 000 . 00 for the con- struction of all offsite public improvements necessary to place the Site in a condition to be improved and developed by Redeveloper . Such improvements shall include, but not be limited to, the repair , relocation, reconstruction, curbing and landscaping of adjacent streets and the realignment of storm drain(s ) as necessary to place such streets and a storm drain( s) in a condition consistent with City standards and in a manner appropriate for the development of the Site as a low- and moderate-income senior citizen housing project ; and the installation and construction of all offsite public utility improvements up to the property line of the Site, except traffic signals . Such utilities shall include, but not be limited to, sewer , gas , electricity and water line y line . to the property improvements up t L B. Non-Mor'Zaaaeable Amenities The Agency, subject to the terms and limitations set forth in Article IV of this Exhibit "D" , shall pay for certain costs deemed to be non-mortgageable by HUD in accordance with the following : Balconies , Pa'Z_ics, Facade Treatment , Building Articulation $154 , 000 Tile Roof & Structural Work $ 24, 000 Second Elevator $ 39 , 000 Architectural Fee for Non-Mort-gagable Items ( 4 . 5% p-lus/minus) $ 12 , 500 Deposit for Future Amenity Maintenance ( 15% plus/minus) $ 42 , 000 $271 , 500 C. Parcel Map The Agency at its own cost and expense shall prepare or cause to be prepared a parcel map or lot split as necessary for the conveyance of the Site. D. Easements Agency and Redeveloper shall grant and permit all necessary and appropriate easements and rights to Site, including but no- the development o�_4' the I- D-5