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HomeMy WebLinkAboutMINUTES - 10221985 - 1.56 THE BOARD OF SUPERVISORS OF CONTRA COSTA- COUNTY, CALIFORNIA Adopted this Order on October 22 1985 , by the following vote: AYES: Supervisors Powers, Schroder, McPeak, Torlakson and Fanden NOES: None ABSENT: None ABSTAIN: None SUBJECT: _ RESOLUTION NO.:�85/615 r Advance of Funds to the Redevelopment Agency and authorization to execute a Repayment Agreement The Redevelopment Agency has requested the advance of funds for the purpose of acquiring certain segments of- former Southern Pacific Railroad right of way and other -property interests in the Pleasant Hill BART Station Area Redevelopment Project. The Property to be acquired is necessary for implementation of the Redevelopment Project and the Pleasant Hill BART Station Area Specific Plan. The project is in the best interests of the County and the County desires to advance sufficient funds for the Agency to carry out the property acquisitions necessary. Sufficient funds are available and the Agency agrees to repay such advance, with interest, prior to the time that they are needed for County purposes. Therefore, the Contra Costa County Board of Supervisors does hereby resolve: 1. That it hereby authorizes the advance of funds not to exceed the amount of $450 ,000 to the Contra Costa County Redevelopment Agency for the purpose of acquiring certain property and property interests in the Pleasant Hill BART Station Area Redevelopment Project; and 2 . That it hereby authorizes the Chairperson execute that certain repayment Agreement attached hereto and incorporated herein by this reference. I hereby certify that this is a tare and correctcopy ct an action taken and entered can the minutes of the Board of Supervisors on he date shown. 40 ATTESTS®: r /ffs PHit. BATCHELOR, Cierk of the Board of Supervisors and County Administrator By �.,._... 'Ceputyt cc: Community Development RESOLUTION NO.� 85/615 County Counsel - - ' County Administrator r ORIGINAL REPAYMENT AGREEMENT (Land Acquisition and Public Improvements) . This agreement is made this 2.2, rt•ot_day of , 198,1, by and between the County of Contra Costa ( "County" ) and the Contra Costa County Redevelopment Agency ( "Agency" ) with respect to the following facts: A. Agency and County both desire that the public improvements provided for in the Redevelopment Plan and the Specific Plan for the Pleasant Hill BART Station Area be constructed as soon as is reasonably possible so as to implement the Redevelopment Plan and Specific Plan and carry out their purpose. B. Agency and County both desire the assemblage of property with the Development Areas designated by the Pleasant Hill BART Station Area Specific Plan. C. It is necessary that the Agency acquire privately-owned property so as to permit construction of public improvements and the assemblage of Development Areas. D. The Executive Director has executed pursuant to authorization contained in Agency Resolution RA 85-11, a Purchase and Sale Agreement to acquire certain former Southern Pacific Railroad right of way and other property interests in the Pleasant Hill BART Station Area, and such right of way and property interests are necessary for the construction of public improvements and assemblage of Development Areas in the Redevelopment Project. E. County and Agency desire that the County provide the funds to acquire the right of way and property interest covered by the Purchase and Sale Agreement and that such funds should be repaid to the County from revenues anticipated by the Agency in Fiscal Year 1985-86. Therefore, Agency and County agree as follows: 1. County shall, at the request of the Agency, advance to the Agency such amounts, not to exceed $450,000, as are needed by the Agency for acquisition of property and property interest provided for in that certain Purchase and Sale and Trade Agreement dated September 17, 1985, and authorized by Agency Resolution No. RA 85-11. An Agency request for payment of any amount pursuant to this paragraph shall be made at or near the time Agency expects to expend such funds for the purposes stated in this paragraph. The funds advanced shall be drawn from funds held in connection with the County of Contra Costa Assessment District No. 1983-1 . J. 1 vv tea'MGMIL 2. The Agency shall repay to the County any amount advanced by the County pursuant to paragraph 1 above with interest at a rate which is the lower of 12% per annum or the highest amount permitted by law from the date of advance until paid. . Any interest accrued shall not bear interest. The entire amount advanced plus accrued interest shall be all due and payable prior to such time as they are needed for construction of those public improvements which are specified in the Engineer' s report prepared in connection with County of Contra Costa Assessment District No. 1983-1 and which Executive Director of the Agency has approved for construction by the Agency. The Agency may repay the County from any revenues it receives prior to the time that said advance of funds is due and payable by the Agency and that Agency appropriates for that purpose, including, but not limited to : the proceeds of bonds; tax increments pursuant to Health & Safety Code Section 33670; proceeds from the sale of land reimbursements, loans or payments from developers pursuant to the provisions of a Disposition and Development Agreement; and any other payments, advances or loans. 3 . The Agency may, pursuant to Health & Safety Code Sections 33670 & 33675, claim any amounts owing to the County pursuant to paragraph 2 as indebtedness in connection with the Pleasant Hill BART Station Area Redevelopment Project. ATTEST: Phil Batchelor, Clerk of the County of Contra Costa Board and County Administrator By r, ep y Nancy C. Fanden Chairwoman Contra Costa County Redevelopment Agency BYoe� ' .(�"� Thomas A. Pro gen, Deputy Executive Director APPROVED AS TO FORM Victor J. Westman, County Counsel By: Silvano B. Marchesi Assistant County Counsel r a�j. i 1 . Funds advance to RA auth RES 85/615 2. SPRR R/W acquisition PH Bart Sta area If ,