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TO: REDEVELOPMENT AGENCY .
•; Costa
County
FROM: Phil Batchelor, Executive Director
DATE: November 14, 2000
SUBJECT: Oakley Redevelopment Jurisdictional Transfer Agreement
.SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
As the Board of Supervisors and the Governing Board of the Redevelopment Agency
APPROVE and AUTHORIZE the Deputy Director-Redevelopment or his designee to enter into
a Jurisdictional Transfer Agreement with the City of Oakley, and the Oakley Redevelopment
Agency regarding the transfer of the Oakley Redevelopment Project to the City; and
AUTHORIZE the Agency Chair to execute Quitclaim Deeds to the Oakley Redevelopment
Agency on behalf of the County Redevelopment Agency, and DIRECT the Public Works —
Real Property Division to deliver said deed to the Grantee.
FISCAL IMPACT
The Jurisdictional Transfer Agreement will provide general fund revenues in the form of a
payment of redevelopment tax increments consistent with the LAFCO Resolution approving an
incorporation vote. The County will receive its payments over the next 10 years, totaling
approximately $1.6 million (net present value of $1.055 million). In addition, the Agreement
provides for the County's General Fund (Liability Reserve Fund) to be re-paid its $938,000
invested in property in Oakley. This payment would be maden or before June 30, 2001.
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
Z / I t '0,
RECOMMENDATION OF EXECUTIVE DIRECTOR RtcommEN6ATiON OF ENCY
COMMITTEE APPROVE OTHER j ! '
SIGNATURE(S):
ACTION OF AGENCY ON November 14, 20QO APPROVED AS RECOMMENDED_.ML OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENTNone ) 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.
Contact: Jim Kennedy
3-1255
cc: County Administrator ATTESTED November 14, 2000
County Counsel PHIL BATCHELOR,
Auditor-Controller AGENCY CRETAR
Via Redevelopment
City of Oakley `
Goldfarb & Lipman BY C��j , _ EPUTY
Myers Nave
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BACKGROUND/REASONS FOR REC!2 rel ,MEND TIONS
With the incorporation of the City of Oakley on July 1, 1999 it has been anticipated that the Oakley
Redevelopment Project would transfer to the City beginning in fiscal year 20100-2001. A mechanism for
accomplishing this transfer would be the execution of a Transfer Agreement between the County,the
County Redevelopment Agency,the City of Oakley, and the Oakley Redevelopment-Agency. This
Transfer Agreement would provide for the transfer of jurisdiction,the assumption of existing Agency
debt,the use and disposition of existing Redevelopment funds,the transfer of Redevelopment Agency
owned properties,the transfer of records,and for the payment to County Agencies. All of this would be
accomplished under the provisions of California Redevelopment Law and the LAFCO Resolution
authorizing the incorporation of the City of Oakley. In order to allow sufficient time to address issues,a
Tolling Agreement was approved by the Board on June 13, 2000, and extended on September 26,
2000.
The Jurisdictional Transfer Agreement provides for the following:
1. Oakley will assume full jurisdiction over the Redevelopment Project Area,and its assets as
of December 1,2000;
2. Oakley Redevelopment will provide payments to the County and County controlled
agencies. These payments will total approximately$1.6 million over the next ten years with
a net present value of$1.055 million. The County Is concurring with Oakley plans to
amend its Redevelopment Project Area to add additional territory, however these
payments are not contingent on the Amendment occurring;
3. Oakley Redevelopment will repay the County General Fund—Liability Reserve account the
$936,000 investment in property pursuant to settlement of the Rodriguez litigation. This
payment will occur on or before June 30,2001;
4. Oakley Redevelopment will continue to provide revenue to the Contra Costa County Public
Financing authority to debt service bonds issued when the Agency was County-controlled;
5. All properties owned by the County Redevelopment Agency will be transferred to the City
Redevelopment Agency;
6. All other cash assets, net of County accrued expenses to the date of transfer,will be
transferred;
7. All contractual obligations of the County Agency for Oakley are transferred to the City
Agency.
Companion aspects to this Jurisdictional Transfer Agreement is 1)the explicit authorization to execute and
deliver Quitclaim Deeds to the Oakley Redevelopment Agency as provided for in the Agreement;and 2)the
agreement of the City of Oakley to enter into a sales tax and TOT tax sharing agreement from specified
uses in their proposed Redevelopment Project Amendment Area. The County would receive 20'% of
specified revenues for the life of the Redevelopment Plan Amendment.
The aforementioned actions will provide an opportunity for a smooth transition of the Oakley Redevelopment
project from the County to the City.
JK:In
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