HomeMy WebLinkAboutMINUTES - 02251992 - H.5C Contra
Costa
TO: BOARD OF SUPERVISORS/REDEVELOPMENT AGENCY County
FROM: Phil Batchelor
County Administrator/Executive Director
DATE: February 25, 1992 1 -
SUBJECT: Joint Public Hearing Regarding Disposition and Developmeri
Agreement with Kids Wonderland of Pleasant Hill.
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
A. Action of Contra Costa County
1. Hold a joint public hearing with the Contra Costa County
(County) Redevelopment Agency to consider a Disposition and
Development Agreement (DDA) between the Agency, the County,
Contra Costa County Community Facilities District No. 1991-
1 (District) and Kids Wonderland of Pleasant Hill, a child
care center in the Pleasant Hill BART Station Area
Redevelopment Project.
2 . Adopt a Resolution to the Board of Supervisors approving
and authorizing the Director of Community Development or
his Designee to execute the DDA on behalf of the County and
District.
B. Action of the-Redevelopment Agency
1. Hold a joint public hearing with the Contra Costa County
Board of Supervisors on the subject DDA.
2 . Adopt a Resolution of the Redevelopment Agency approving
and authorizing the Executive Director of his designee to
execute this DDA in substantially the form on file with the
Secretary of the Agency and such other documents as may be
reasonably necessary to carry out its terms and provisions.
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDAT-ION OF AdENCY'. C7tTTEE
APPROVE OTHER
i
SIGNATURE(S) :
ACTION OF AGENCY ON Febru;;rT2F, lgg2 APPROVED AS RECOMMENDED X OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
,AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
r AGENCY ON THE DATE SHOWN.
cc: Redevelopment Director
CAO ATTESTED February 25, 1992
Auditor-Controller PHIL BATCHELOR,
County Counsel AGENCY SECRETARY
Kids Wonderland
SRA22/jb/kidswndr.bos
BY J
eputy C erk
FISCAL_ IMPACT
See attached summary report.
BACKGROUND/REASONS FOR RECOMMENDATIONS
Pursuant to requirements of California Redevelopment Law, a Summary
Report on the subject Disposition and Development Agreement was
prepared which briefly outlines the provisions of the Agreement.
, Copies of the Summary Report and the DDA have been placed on file
with the Clerk ' of the Board/Secretary of the Agency for public
review. '
SUMMARY REPORT ON DISPOSITION AND DEVELOPMENT AGREEMENT
BETWEEN THE CONTRA COSTA COUNT REDEVELOPMENT AGENCY
AND
" KIDS WONDERLAND OF PLEASANT HILL
I. Introduction
On May 23 , 1989, the Contra Costa County Redevelopment Agency
(the "Agency") agreed to enter into a Disposition and
Development Agreement (DDA) with Pleasant Hill Development, a
California Limited Partnership. Said Agreement was assigned
to GBW Properties, a California Corporation on May 31, 1989.
GBW Properties is the developer of certain property known as
the Park Regency Apartments in the Pleasant Hill BART Station
Area Redevelopment Project and is the designated Master
Developer of Pleasant Hill BART Station Development Area 3 .
Among other things, GBW Properties is responsible for the
development of a child care center as part of the development.
GBW proposes to. sell the child care center to Kids Wonderland
of Pleasant Hill, who would own, develop and operate the
center. It is the intent to enter into a DDA with Kids
Wonderland of Pleasant Hill.
The purpose of the DDA is to provide for:
A. The assignment of the DDA from GBW Properties to Kids
Wonderland for the child care center only;
B The- conveyance of an easement on certain publicly-owned
property from the Agency to the developer;
C. Set forth child care program restrictions and the terms
of the County's financial assistance to realize those
requirements; and
D. The orderly development of Development Area 3 consistent
with the Pleasant Hill BART Station Area Redevelopment
and Specific Plans and with approved Development Plans
for the property.
This Summary is intended to comply with provisions of
California Community Redevelopment Law (Health & Safety Code
Section 33433) requiring such a report before any property of
the Agency, acquired with tax increment monies, is disposed of
for development pursuant to a Redevelopment Plan.
II. Cost of the Agreement to the Agency
A. Publicly-Owned Parcels
This property, % a portion of which will be conveyed in
easement to Kids Wonderland of Pleasant Hill, is owned in
Fee by the Agency. The Agency purchased the property in
1991 for $466, 662. The Agency property is part of
Development Area 4, and is adjacent to the child care
center to be developed in Development Area 3 .
Development Area 4 is to be developed as a high density
multi-family development. Development approvals of the
County require the developer of Area 4 to provide, as
mitigation of its child care impact as identified, an
easement to the owner/operator of the child care center
in Area 3 . The Agency is currently the owner of the
property upon which the easement is to be provided. The
Agency intends to transfer its property (and other
properties to be acquired) and the subject easement to
the ultimate developer of Area 4 in the future.
Therefore the easement is being provided at no cost.
B. Child Care Program Financial Assistance
The DDA provides for the County to provide approximately
$302,000 toward the 'cost of constructing the child care
center. The amount to be contributed comes from two
sources:
1. Approximately $202 , 000 in .proceeds of Special Tax
Bonds issued by the Contra Costa County Community
Facilities District No. 1991-1, which proceeds are
deposited, held, reinvested and disbursed as
provided in the fiscal agent agreement ("Fiscal
Agent Agreement") with. Security Pacific National
Bank pursuant to which the Special Tax Bonds were
issued; and
2 . the sum of $100, 000 in child care mitigation funds
contributed by members of the Contra Costa Centre
Association pursuant to child care mitigation
agreements, which funds are authorized for use and
distribution under Section 5.2 (a) of the Child Care
Program Administration Agreement dated August 13,
1991 between the County and the Contra Costa Centre
Association. As owner of the property, Kids
Wonderland of Pleasant Hill will be subject to the
payment of an annual special tax to amortize their
portion of the Special Tax Bonds. The $100, 000
contributed by members of the Contra Costa Centre
Association are not subject to repayment.
III. -Estimated-Value -of the Interests Conveyed
The property which will be subject to the Grant of Easement
was purchased by the Agency in 1991 for $466, 662. The Grant
. of Easement does not impair the developability of the Agency
property. Furthermore, the provision of said easement is a
condition of development approval for the currently approved
project in Area 4 . The property, and the easement, (along
with other properties to be acquired) will ultimately be
conveyed to a private developer who will construct a high
density multi-family development on the assembled site. Due
to the foregoing, the Agency does not attach a value to. the
Grant of Easement.
IV. Purchase Price to the Developer
The Grant of Easement is being provided to the developer of
the child care center at no cost. See discussion in. Section
II and III above.
SRA22/jb/kidsumry.dda