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HomeMy WebLinkAboutRESOLUTIONS - 11271984 - 84-707 "To: � BOARD OF SUPERVISORS r Contra FROM: Phil Batchelor, County Administrator Costa DATE: November 27, 1984 Cou"y SUBJECT: Approving Transfer of County Transit Fee Funds from Assessment District 1983-1 (Pleasant Hill BART Station Area) , and Loan of Such Funds to Redevelopment Agency SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION RESOLUTION NO.84/707 RECOMMENDATION 1 . Establish a County interest bearing "Specific Plan Transit Fee" account to receive funds from Assessment District 1983-1 (Pleasant Hill BART Station Area) and from the Planning Depart- ment and the Public Works Department which have been earmarked for mitigation of transportation impacts created by the Pleasant Hill BART Station area project. Interest accruals shall be retained in the account. 2. Direct the County Director of Planning and the Public Works Director to transfer to the Transit Fee account all appropriate development fees collected to date and to be received under their supervision. 3. Direct the Public Works Director to transfer County Transit Fee funds of $1, 026 ,000 from Assessment District 1983-1 plus current and future receipt of Transportation Systems Management fee funds to the Transit Fee account. 4. Appropriate $1, 026 , 000 of Transit Fee account funds for expenditure. 5. Approve and authorize the County Administrator to execute on behalf of the County a loan agreement between the County and its Redevelopment Agency to provide for a loan of $1, 000,000 from the Transit Fee account to the Agency, subject to approval as to terms by the County Counsel, Bond Counsel for the Assessment District, and special counsel for the Agency. The agreement will enable the Agency to acquire real property needed within the BART Station area to carry out the redevelopment plan, and for related purposes. The agreement should take into account the County' s ultimate need for the Transit Fee funds and the Agency ' s ability to repay the funds through tax increment financing. 6. Authorize the County Administrator to provide a report to the Board of Supervisors on or before March 1, 1985 outlining the general plan and timetable for ultimate use by the County of the Transit Fee funds. CONTINUED ON ATTACHMENT: XX YES SIGNATURE: XX RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDAT OF BOARD COMMITTEE XX APPROVE OTHER 1 SIGNATURE(S) / ACTION OF BOARD ON November 27. 1984 APPROVED AS RECOMMENDED X OTHER VOTE OF SUPERVISORS —X UNANIMOUS (ABSENT ) I HEREBY CERTIFY THAT THIS IS A TRUE AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES OF THE BOARD OF SUPERVISORSON /O_N_-T-HE DATE `SHOWN. CC: Director of Planning ATTESTED !�r 11� [/ as /9.0v Public Works Director Phil Batchelor, Clerk of the Board of County Administrator SuPervisors and County Administrator County Counsel � �0 2 5 2 Goldfarb & Lipman M382/7•83 BY DEPUTY 2 . BACKGROUND In the spring of 1984 , bonds were sold by the County in Assessment District 1983-1, Pleasant Hill BART Station area. The total assessment levied on property owners within the district was $9 , 474, 082. It was contemplated at the time the district was established that only a portion of the total estimated cost of the area project (some $30 ,000 , 000) would be paid through the district, and that the balance would be paid through tax increments . Among the incidental expenses assessed was the sum of $1, 026 , 000 designated as a "County transit fee" and the sum of $103,000 designated as a "transporta- tion system management fee. " In the district final cost estimate dated February 7, 1984, ;.it was indicated that these fees would be available for street construction and related uses until their ultimate use by the County to provide mitigation for transportation impacts . Under the district the developers were in effect permitted to prepay the development fees due under the specific planpreviously adopted by the Country. The development fee was negotiated following the Board of Supervisors ' June 7, 1983 approval of the Pleasant Hill BART Station area Specific Plan and included a 50C per square foot County transit fee. The County transit fee was established to allow the County, in cooperation with the Central Contra Costa Transit Authority, and the private development community, to implement transportation systems management (TSM) measures, as well as to augment existing transit service in the area to mitigate the impacts of the proposed office and commercial development. Details as to how these funds will actually be used have not yet been developed, but it has been generally agreed that mitigation measures (i.e. , money) will not be needed until employees actually occupy space within the proposed office-commercial projects within the Specific Plan area. The requested action authorizes the County to set aside the transit funds budgeted in the Assessment District as incidental expenses in a separate account and to permit their being loaned to the Redevelopment Agency under suitable safeguards to be established as set forth in this resolution. The Agency would use the loaned funds for right-of-way acquisition and for completion of various infrastructure improvements, most likely landscaping. In addition to funds earmarked in the district, the Director of Planning has collected various development fees for transit impacts in the BART area and it is requested that these sums likewise be transferred to the special account. Furthermore, it is requested that interest generated in the interest bearing account, accrue to the account itself, to be used to enhance transportation mitigation for the area. i RESOLUTION NO. 84/707 00 20-3