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HomeMy WebLinkAboutMINUTES - 07071987 - 1.115 TO: REDEVELOPMENT AGENCY FROM: Phil Batchelor, Executive Director DATE: May 11, 1987 SUBJECT: Redevelopment Agency Budget for Fiscal Year 1986-87 SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION RECOMMENDATIONS Adopt the attached annual Redevelopment Agency budget for Fiscal Year 1986-87 in compliance with California Community Redevelopment Law. FISCAL IMPACT Refer to attached budget report details. BACKGROUND/REASONS FOR RECOMMENDATIONS California Community Redevelopment Law (Health & Safety Code Section 33606) requires in part that the Redevelopment Agency adopt an annual budget containing the following information: - Proposed expenditures - Proposed indebtedness to be incurred - Anticipated revenues - A work program for the coming year - An examination of the previous year' s achievements. The attached report fulfills the requirements of Redevelopment Law and establishes a framework for implementation of the Pleasant Hill BART Station Redevelopment Project for FY 1986-87 . The report also contains information of previous financial transactionsof the Agency for comparison purposes and establishes the recod f activities of the Agency. CONTINUED ON ATTACHMENT: YES SIGNATURES 1 RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATIO A Y -OMMITTEE APPROVE OTHER SIGNATURE(S) : ACTION OF AGENCY ON July 7, 1987 APPROVED AS RECOMMENDED X OTHER VOTE OF COMMISSIONERS I HEREBY CERTIFY THAT THIS IS A X UNANIMOUS (ABSENT 1 & 4 TRUE AND CORRECT COPY OF AN AYES: NOES: ACTION TAKEN AND ENTERED ON THE ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT AGENCY ON THE DATE SHOWN. cc: Redevelopment Agency ATTESTED July 7, 1987 Auditor-Controller PHIL BATCHELOR, Public Works Department AGENCY SECRETARY PW Real Property PW Design Construction BY GDEPUTY R:krc ral3 :budget86.87 CONTRA COSTA COUNTY REDEVELOPMENT AGENCY BUDGET AND WORK PROGRAM FOR FISCAL YEAR 1986-1987 INTRODUCTION California Community Redevelopment Law (Health & Safety Code Section 33606) requires the Redevelopment Agency to adopt an. annual budget containing the following: - Proposed expenditures of the Agency - Proposed indebtedness to be incurred by the Agency - Anticipated revenues of the Agency - A work program for the coming year, including goals - An examination of the previous year' s achievements ANTICIPATED REVENUES Revenues for FY 86-87 are expected to reach nearly $7 . 37 million which includes: - $2.58 million in funds transferred from Assessment District 1985-3 and other governmental agencies. - 0.725 million in developer fees - 0. 450 million in charges for services to utilities - 0. 258 million in investments and rental of properties - 3 .044 million in sales of real estate - 0.312 million in secured property tax PROPOSED EXPENDITURES Proposed expenditures for FY 86-87 total approximately $7. 3 mil- lion. Major expenditures in FY 86-87 will be for Public Works contracts ( 6.1 million) and for property acquisition ( 1. 0 million) . Project administration and consulting services are expected to be 0.2 million. Most of the administrative costs will be for the adminis- tration of construction contracts and engineering services. PROPOSED INDEBTEDNESS The Agency has incurred approximately $10 million in indebtedness during FY 86-87 . The major elements of Agency debt include: $4. 0 million note to Southern Pacific Transportation Co. for abandoned SP right-of-way purchased in 1984. This note is due in 1987 and, it is anticipated, will be paid off with proceeds of an Agency tax allocation bond in FY 1987-88. $1.2 million advance from Assessment District 1983-1. one million of the advance was taken from transit fees intended for TSM Program implementation. These funds will be repaid incrementally as development takes place and TSM measures 'are implemented. $1 .8 million- in property conveyances from the County. These are existing rights-of-way which are to be vacated by the County, conveyed to the Agency and ultimately sold to developers in order to complete the various Specific , Plan development areas. Repayment will' be made from tax increment revenues when available. $3 .0 million Bond issued pursuant to the BART/County/- Agency Agreement. Proceeds will be used to repay $2. 4 million in BART development fees and to finance BART' s share of water, sewer and access improvements in the area. BART is to assume all debt service on the bonds. in addition the County will provide the Agency with certain admin- istrative services which will accrue as a debt against the Agency. These advances will be repaid from tax increment revenues as soon as practicable. 2 WORK PROGRAM FOR FISCAL YEAR 1986-87 The work program of the Redevelopment Agency for Fiscal Year 1986-87 is directed at completing assemblage of development areas in the Pleasant Hill BART Station Area Redevelopment Project, and continuing construction of public improvements therein, and at adopting two new Redevelopment Plans, North Richmond and West Pittsburg. Specific goals, objectives and tasks of the Agency for Fiscal Year ' 86-87 are outlined below: Goal I . , Complete the Assemblage of Specific Plan Development Areas. A. Obtain financing needed to acquire remaining properties. 1. Finalize Disposition and Development Agreements (DDA' s) for Development Areas 4, 10A and 10B. Secure funds from developers under terms of DDA' s. 3 . Continue to negotiate the BART/County/Agency 'Agreement and explore bonding capacity. B. Acquire and dispose of all outstanding property necessary to complete Development Areas. 1. Continue negotiations with property owners and initiate eminent domain proceedings if necessary. 2. Complete vacation and abandonment proceedings on County rights-of-way held in fee to the agency. 3 . Continue to assist developers in obtaining parcels not held by the Agency. 4. Relocate eligible occupants of properties acquired by the Agency and monitor relocation of occupants of properties acquired by developers. Goal II : Continue access and infrastructure improvements necessary to allow construction to begin and to serve completed buildings. A. Secure necessary financing. 1. Continue property transfers as appropriate and expedite receipt of payment for same. 2. Continue to collect reimbursements as called for in the DDA' s. 3. Explore bonding capacity of Agency. B. obtain needed rights-of-way. , 1. Secure property dedications as specified in DDA' s or development approvals. 2. Initiate condemnation action where necessary. 3 . Evaluate need for new rights-of-way either thru dedication or condemnation. C. Continue contract administration/construction monitoring of the following improvements: 1. Roadways: Jones Road extension Treat Boulevard widening Oak Road realignment Wayne Drive extension Buskirk Avenue realignment 2. Utilities: -Oak Road -Buskirk Avenue -Jones Road -Treat Boulevard Goal III . Continue to evaluate Specific Plan Implementation. A. Continue to develop Transportation Systems Management Program. 1. Coordinate with Developers Association for program development. 3 2. coordinate the implementation of TSM with the completion and occupancy of building. 3. Explore and evaluate new TSM measures. B. Monitor development of child care facilities and pro- grams. C. Evaluate amendments to Specific Plan and begin adoption process if appropriate. 1. Las Juntas extension to Oak Road. 2. Widening of Oak Road to four lanes between Las Juntas and Wayne Drive. 3. Conversion of Area 3 to multi-family use. Goal IV. Continue to explore methods for implementing low and moderate income housing requirements. A. Continue to implement the Replacement Housing Program. 1. Area 4: Assist developer in acquiring remaining properties, finalize DDA, and assist in obtaining financing. "--2. Area 3: Evaluate current status with respect to single family homes and possibility of developing low and moderate income housing. Goal V. Recommend adoption of Redevelopment Plans in North Richmond and West Pittsburg. Goal VI . Investigate the feasibility of other new redevelopment projects in the unincorporated areas of the County. A. Establish survey areas and evaluate the possibility of utilizing redevelopment in the following areas: 1. Oakley 2. Crockett B. Consider additional staff to conduct surveys and imple- ment new Plans. 4 EXAMINATION OF ACHIEVEMENTS FOR FISCAL YEAR 1985-86 The Agency made great strides in Fiscal Year 1985-86 in the rede- velopment of the Pleasant Hill BART Station Area. The Agency also took positive steps towards the establishment of two new Project Areas. specifically, the Agency reached the following milestones. A. Development: The Agency completed Disposition and Devel- opment Agreements for areas 1B, 7A, 7B, 8 and 9. During the fiscal year approximately 500,000 square feet of office space was under construction. B. Property Acquisition: The Southern Pacific Right of Way on the east side of the Pleasant Hill BART Station Project Area was acquired for future transportation improvements. This acquisition created a debt of $5 million which is due in December 1987 . Additionally, the Agency continued to assist developers in the acqusition consolidation of land for development. C. Financing: The Agency and County participated in the establishment of Assessment District 1985-3 . This District financed a total of $2,285, 557 in fees applica- ble to 3 residential developments totaling 260 units, and 150,000 sq.ft. of office space. Additionally, the Agency continued to collect reimbursements from developers for acquisition costs incurred, and to transfer properties for which revenue was received. D. Infrastructure Improvements: During FY 85-86, the installation of new public improvements continued. The vacation of rights of way no longer needed was accom- plished; and new rights of way were dedicated through terms of DDA' s. Construction commenced on the new Jones Road and Oak Road alignments and frontage improvements were completed along Treat Boulevard. The fees collected thru Assessment District 1985-3 were applied to improve- ments in the Wayside Plaza area, as well as, along the Jones Road alignment. E. 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T•w� W V� I Lie i! ii f Ul 10 c O ii I •-, ? ? :• V, I - TJ # h I v EN Q rD c-F N ii L^ T' - V i( CO �'• _ P t , :moi - ti 1:9 u .t ?r- T•, 1 r- TO: REDEVELOPMENT AGENCY FROM: Phil Batchelor, Executive Director DATE: June 23 , 1987 SUBJECT: Redevelopment Agency Budget for Fiscal Year 1987-88 . SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION RECOMMENDATIONS Adopt the attached annual Redevelopment Agency budget for Fiscal Year 1987-88 in compliance with California Community Redevelopment Law. FISCAL IMPACT Refer to attached budget report details. BACKGROUND/REASONS FOR RECOMMENDATIONS California community Redevelopment Law (Health & Safety Code Section 33606) requires in part that the Redevelopment Agency adopt an annual budget containing the following information: - Proposed expenditures - Proposed indebtedness to be incurred - Anticipated revenues - A work program for the coming year - An examination of the previous year' s achievements. The attached report fulfills the requirements of Redevelopment Law and establishes a framework for implementation of the Contra Costa County Redevelopment Agency Budget for FY 1987-88 . Because revenues and expenditures, by law, must be applied to the particular project area in which they are generated, separate budgets, in effect, have been created for the Pleasant Hill, North Richmond, and West Pittsburg Project Areas. The report also . ' contains information of previous financial transactions �fthe f Agency for comparison purposes and establishes the reco r a activities of the Agency. CONTINUED ON ATTACHMENT: YES Si" RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMIENDATVVOF AJENW COMMITTEE APPROVE OTHER SIGNATURE(S) : ACTION OF AGENCY ON July 7 , 1987 APPROVED AS RECOMMENDED X OTHER VOTE OF COMMISSIONERS I HEREBY CERTIFY THAT THIS IS A X UNANIMOUS (ABSENT 1 & 4 TRUE AND CORRECT COPY OF AN AYES: NOES: ACTION TAKEN AND ENTERED ON THE ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT AGENCY ON THE DATE SHOWN. cc: Redevelopment Agency ATTESTED July 7, 1987 Auditor-Controller PHIL BATCHELOR, Public Works Department AGENCY SECRETARY PW Real Property PW Design Construction BY DEPUTY GR:krc ral3 :budget87 . 88 CONTRA COSTA COUNTY REDEVELOPMENT AGENCY BUDGET AND WORK PROGRAM FOR FISCAL YEAR 1987-1987 INTRODUCTION California Community Redevelopment Law (Health & Safety Code Section 33606) requires the Redevelopment Agency to adopt an annual budget containing the following: - Proposed expenditures of the Agency - Proposed indebtedness to be incurred by the Agency - Anticipated revenues of the Agency - A work program for the coming year, including goals - An examination of the previous year' s achievements ANTICIPATED REVENUES Revenues for FY 87-88 are expected to reach nearly $8.7 million which includes: - $5. 3 million bond issuance and other intergovernmental transfers - $1.0 million in developer fees - $1. 1 million in sale of real estate - $0. 6 million in property taxes - $0.5 million in engineering services (accounts receivable) - $0. 2 million in interest received and other receivables PROPOSED EXPENDITURES Proposed expenditures for FY 87-88 total approximately $8'.7 mil-, lion. Major expenditures for FY 87-88 will include Public Works contracts of $1 .7 million, property acquisition of $1. 1 million, retirement of long term debt in the amount of $5. 1 million and project professional services of $0.8 million. INDEBTEDNESS The Agency has incurred approximately $7 millli= lin- indebtedness as of June, FY 87-88. The major elements of Agency debt include: $4. 0 million note to Southern Pacific Transportation Co. for abandoned SP right-of-way purchased in 1984. This note is due in December 1987. $1.2 million advance from Assessment District 1983-1. One million of the advance was taken from transit fees intended for TSM Program implementation. These funds will be repaid incrementally as development takes place and TSM measures are implemented. $1. 8 million in property conveyances from the County. These are existing rights-of-way which are to be vacated by the County, conveyed to the Agency and ultimately sold to developers in order to complete the various Specific Plan development areas. Repayment will be made from tax increment revenues when available. In addition the County will provide the Agency with certain admin- istrative services which will accrue as a debt against the Agency. These advances will be repaid from tax increment revenues as soon as practicable. No further indebtedness is anticipated during FY 87-88. 2 WORK PROGRAM FOR FISCAL YEAR 1987-88 The work program of the Contra Costa Redevelopment Agency for Fiscal Year 1987-88 is directed at .continuing the implementation of the Pleasant Hill BART Station Area Redevelopment Plan and Specific Plan, the adoption and implemen- tation of Redevelopment Plans for North Richmond and West Pittsburg, and the evaluation of the potential for redevelopment in other areas of the County. Specific goals, objectives and tasks of the Agency for Fiscal Year 87-88 are outlined below: I. Pleasant Hill BART Station Redevelopment Project Area: Goal 1: Secure necessary financing to implement the Plan. A. Secure funds from developers under terms of Disposition and Developer Agreements (DDA's) . B. Continue property transfers as appropriate to expedite receipt of payments. C. Continue to collect reimbursements from developers as called for in DDA's and from utility companies as called for in undergrounding agreements. D. Issue tax-exempt bonds in an amount necessary to meet repay- ment schedule for Southern Pacific Right-of-Way and to finance additional road and public improvements. Goal 2: Complete the Assemblage of Specific Plan Development Areas. A. Finalize Disposition and Development Agreements (DDA's) for Development Areas 4 and 10A. B. Complete the acquisition of remaining parcels within the Project Area required to complete development areas. C. Complete vacation and abandonment proceedings on County rights-of-way held in fee. D. Secure property dedications as necessary for planned road improvements. Goal 3: Continue access and infrastructure improvements necessary to allow construction to begin and to serve completed buildings. A. Continue to transfer property as necessary to facilitate road and public improvements. B. . Secure property dedications as specified in DDA's or development approvals. C. Initiate condemnation action where necessary. D. Evaluate need for new rights-of-way and, if necessary, acquire either through dedication or condemnation. E. Complete construction of the following improvements: - Cherry Lane widening - Treat Boulevard widening - Las Juntas extension - Median landscaping and related improvements Goal 4: Continue to evaluate Specific Plan Implementation. A. Continue to develop Transportation Systems Management Program. 1. Coordinate with Developers Association for program development. 2. Coordinate the implementation of TSM with the completion and occupancy of building. 3. Explore and evaluate new TSM measures. B. Monitor development of child care facilities and programs. C. Evaluate amendments to Specific Plan and begin adoption process if appropriate. 1. Conversion of Area 3 to multi-family. 2. Jones Road-Coggins Drive connection. II . North Richmond Redevelopment Project Area: Goal 1. Recommend adoption of the North Richmond Redevelopment Plan. A. Monitor and provide support for private development within the Project Area. B. Continue to work with the Project Area Committee in implementing the Plan. Goal 2. Monitor related public improvements in the Project Area. A. Continue to support the North Richmond By-pass and the work of the Route 93 committee. B. Monitor progress of the Wildcat and San Pablo Creeks Flood Control Projects. III. West Pittsburg Redevelopment Project Area: Goal 1. Recommend adoption of the West Pittsburg Redevelopment Plan by the end of calendar year 1987. A. Work with the Project Area Committee in formulating and implementing the Plan. B. Monitor and provide support for private development within the Project Area. IV. Other Redevelopment Activities: Goal 1: Hire additional staff to assist in adoption and/or implementation of three Redevelopment Projects: Pleasant Hill , North Richmond and West Pittsburg. Goal 2: Study other potential redevelopment areas. A. Establish survey areas and evaluate the possibility of utilizing redevelopment in the following areas: 1. Oakley 2. Crockett 3. Tara Hills Goal 3: Provide continued support to County Administration in monitoring existing and proposed city redevelopment projects. GR/wrprogfy.878 EXAMINATION OF ACHIEVEMENTS FOR FISCAL YEAR 1986-87 .The Redevelopment Agency, during Fiscal Year 1986-1987, continued to implement the Pleasant Hill BART Station Redevelopment Plan. Substantial progress was made in infrastructure and public improvements. The Agency completed the major- ity of work necessary to adopt a Redevelopment Plan for the North Richmond Area, and took initial steps towards adopting a West Pittsburg Plan. Specifically, the Agency accomplished the following: I . Pleasant Hill BART Redevelopment Project Area A. Development: The Agency completed the Disposition and Development Agreements (DDA's) for Area 10B, which included both the hotel and the office building site. During the fiscal year an additional 375,000 square feet of office space was completed in development areas 15 and 14B. Work is continuing on an additional 50,000 square feet in development area 1B. B. Property Acquisition: The acquisition of property necessary to create developable areas was nearly completed this fiscal year. Presently only one parcel is still in the process of being acquired. C. Financing: Assessment District 1983-1 was refinanced in fiscal year 86-87 to take advantage of lower interest rates. The Agency continued to collect reimbursements from developers for property acquisitions. $1.1 million was received from BART as payment to be credited against future development fees. The Agency began to assess the potential for bonding in order to retire a $5 million debt to the Southern Pacific Transportation Company in late 1987. D. Infrastructure Improvements: During the fiscal year the Agency accom- plished a great deal in the way of infrastructure and circulation improvements. Vacations of road easements were completed which helped establish the various development areas. The Jones Road extension to Treat Boulevard was completed, as well as the Oak Road and Buskirk alignments and the Wayne Drive extension. Associated utility and drainage improvements were completed. Work continued on the Treat Boulevard widening. An amendment to the Specific Plan was adopted which called for the widening of Oak Road to 4-lanes between Wayne Drive and Buskirk and the extension of Las Juntas Way to Oak Road. The Oak Road widening was completed and the Las Juntas Way extension was begun. A Phase II Traffic Study, a requirement of the Specific Plan, was completed during Fiscal Year 1986-87.- II . 986=87:II . North Richmond Redevelopment Project Area The Agency moved ahead with the adoption of a Redevelopment Plan to the North Richmond Area during Fiscal Year 1986-1987. The Environmental Study was completed as well as the Preliminary Report, the Report on the Plan and the Plan itself. A Project Area Committee was formed to work with staff during the adoption process. Plan adoption should take place very early in Fiscal Year 87-88. III. West Pittsburg Redevelopment Project Area. The adoption of a West Pittsburg Redevelopment Plan got underway in Fiscal Year 1986-1987. A Project Area Committee was formed to work with staff. Project area boundaries and a Preliminary Plan were adopted by the Planning Commission. IV. Other Redevelopment Activities. Staff began to evaluate the potential for redevelopment in other areas of the County during the fiscal year. Specifically, the Crockett, Oakley and Tara Hills areas received some attention. Staff continued to support the Administrator's office in the evaluation of city redevelopment projects. GR/wrprogfy.878 r- Ic N r- 1 0 1 0 co 0 0 .1 I` — !1! CO I N 4,.1 G I - I- !M In 'll cn 1,— 1 07 IN b"! co 0, 1 0 r— NO N r— IN CdGO G G CCC 00 0 CD I Cl., C CC 1 0 C" 'D C%.. 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