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TO: REDEVELOPMENT AGENCY/BOARD OF SUPERVISORS
FROM: John Cullen, Executive Director rev
Dennis Barry, AICP, Director of Community Development
DATE: January 22, 2008
SUBJECT: BART Transit Village, Pleasant Hill BART/Contra Costa Centre
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
As the Governing Board of the Contra Costa County Redevelopment Agency ADOPT Resolution:
1. Approving and authorizing the Redevelopment Director to execute a First Amendment to Agency Assistance
Agreement with Pleasant Hill Transit Village Associates, LLC;
2. Authorizing the Redevelopment Director to execute a Second Amendment to the Joint Powers Agreement for
the Pleasant Hill BART Station Leasing Authority between the Bay Area Rapid Transit District, the County of
Contra Costa, and the Contra Costa County Redevelopment Agency; and
3. Adopting findings pursuant to Section 33445 of the California Health and Safety Code regarding the
improvements being of benefit to the area, regarding no other reasonable means of financing, and regarding
the elimination of blight in the area; and
4. Adopting findings related to a preference for public employees in the sale of the for-sale housing units to be
developed on the BART Property.
As the Board of Supervisors ADOPT Resolution:
1. Approving and authorizing the Deputy Director-Redevelopment to execute a Second Amendment to the
Joint Powers Agreement for the Pleasant Hill BART Station Leasing Authority between the San Francisco
Bay Area Rapid Transit District, the Contra Costa County Redevelopment Agency; and the County of Contra
Costa;
2. Consenting to the First Amendment to Agency Assistance Agreement between the Contra Costa County
Redevelopment Agency and Pleasant Hill Transit Village Associates, LLC; and
3. Adopting findings pursuant to Section 33445 of the California Health and Safety Code regarding the
improvements being of benefit to the area, regarding no other reasonable means of financing, and regarding
the elimination of blight in the area.
CONTINUED ON ATTACHMENT: _X_YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR C MENDAT N OF AGENCY CO ITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF AGENCY/ON APPROVED AS RECOMMENDED OTHER
SUPERVISORS
VOTE OF COMMISSIONERS/SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
�ANIMOUS (ABSENT No TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS/AGENCY ON THE
Contact: Jim Kennedy DATE SHOWN.
335-7225
orig: Redevelopment Agency
cc: County Administrator ATTESTED
County Counselj
Community Development JOHN CULLEN, CLER OF
via: Redevelopment THE BOARD OF SUPERVISORS/
BART AGE NC SECRETARY
Avalon Bay Communities
Millennium Partners BY UTY
Goldfarb & Lipman
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320\18\519890.1
Infrastructure as follows:
• Developer $11.9 million
• Redevelopment Agency$2.7 million
The two amended agreements do permit First Amendment to Agency
Assistance Agreement permits the Agency to fund additional Backbone
Infrastructure costs should there be savings from the final garage funding
requirement, but only on a 50-50 basis with the Developer. In recognition
of the significantly higher developer costs for Backbone Infrastructure, the
First Amendment to the Agency Assistance Agreement modified to permit
the Developer to receive 100% of the proceeds from the Low Income
Housing Tax Credits. The previous business terms shared the proceeds
50-50 between the JPA and the Developer. The tax credits have a
speculative value of $2-4 million. The annual payment by the
Redevelopment Agency of $500,000 to offset Developer borrowing costs
for Backbone Infrastructure does not change.
4. Placemaking Costs
The budget requirement for parks, plaza, street furniture, special street
lighting, public art, etc. has been reduced from $8 million to $7.725 million.
The Redevelopment Agency is entirely responsible for funding
placemaking. The First Amendment to the Agency Assistance Agreement
provides for this change. In addition to the public area placemaking
improvements, the placemaking program has been revised to include the
civic use, a bicycle station, and additional funding, for BART Station
Fagade Enhancements. An additional $2.5 of Agency Funding is provided
for in the First Amendment to the Agency Assistance Agreement for these
public uses. In addition, the resolution authorizes the appropriation of up
to $2.8 million of Agency Funds for unfunded improvements compatible
with and supportive of the Transit Village Project.
5. Public Employee First Offer Program
The Transit Village will include 100 for-sale condominiums. The County has
an interest in providing housing opportunities for public employees desiring
to live closer to their workplace. As a result the First Amendment to the
Agency Assistance Agreement includes a requirement for a first offer to
Public Employees Program in which public employees will be provided a 60-
day time period to purchase the units. No financial assistance or beneficial
price discounts are provided for.
6. Transit Benefit Fee Agreement
The BART Board recently adopted a policy requiring developers to attach
a benefit fee requirement to the sale of any home being built on previously
owned BART property. The Transit Benefit Fee would require a fee to be
paid to BART of 1.5% of appraised value at the time of any transfer of
homes after the initial sale. The First Amendment to Disposition and
Development Agreement (between the JPA and the Developer) provides
for the Transit Benefit Fee Agreement. The Transit Benefit Fee creates a
new revenue source from the Transit Village Project. The ability to share
this revenue among the parties to the JPA in a manner consistent with the
JPA Agreement is difficult to accomplish therefore the JPA Agreement is
proposed to be amended to provide for the Transit Benefit Fee revenues
to go to BART and for the County to receive an additional priority recovery
of revenue through ground rents of $1 million . The $1 million represents
the estimated present value of an equitable split of Transit Benefit Fee
revenues.
7. JPA Amendment
In addition to the amendment to the JPA Agreement noted above to
accommodate the Transit Benefit Fee revenues, it is proposed that the JPA
Agreement also be amended to reflect the increased Redevelopment Agency
contribution to the costs for the parking structure and backbone infrastructure.
This amendment would provide a priority recovery to the County of up to $6
million.
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320\18\519890.1
FISCAL IMPACT
The recommended actions will preserve and enhance the position of the County General
Fund to receive substantial ground lease revenue from the development of the BART
Transit Village project. All Agency funds required to fulfill outlined obligations have been
budgeted.
BACKGROUND:
A) Planning Context
The BART Transit Village Project at the Pleasant Hill Station is the exclamation point for
the successful transit-oriented development program at Contra Costa Centre. The Transit
Village project will bring a mixed-use heart to Contra Costa Centre. The Transit Village will
include neighborhood serving retail and restaurant programming, for-sale and rental housing, a
business conference center, office space and a civic use.
The Transit Village concept was initiated by the County with a Specific Plan adoption in
1983, and implemented using tools available to the Redevelopment Agency starting in 1984.
The area provides an example of how growth can be accommodated within our urban areas
through the creation of high quality neighborhoods near transit.
B) Business Context
To assure realization of the myriad of public policy objectives and private return
objectives, the Transit Village is supported by a highly complex public/private partnership.
This partnership includes the County, the County Redevelopment Agency, the Bay Area
Rapid Transit District(BART), a joint powers agency of these three public agencies referred
to as the Pleasant Hill BART Leasing Authority, and Pleasant Hill Transit Village Associates,
LLC (the"Developer"). Pleasant Hill Transit Village Associates is a partnership of AvalonBay
Communities and Millennium Partners,two highly-experienced developers of premier mixed-
use projects.
C) Prior Actions
In 2004 to 2006 a variety of actions were taken by the Board of Supervisors, the
Redevelopment Agency, and the Pleasant Hill BART Leasing Authority to permit the Transit
Village to move forward. These actions included:
• The creation of the Pleasant Hill BART Leasing Authority (the "JPA") in 2004. The
JPA is the critical business link between the property owner (BART) and the
Developer. The JPA will lease the property from BART, and then sub-lease to the
Developer. The JPA will also sell the condominium portion of the property to the
Developer.The JPA receives the ground lease payments, which are estimated to be
in excess of $700 million over the 100-year term. In recognition of the County
Redevelopment Agency's significant financial participation in funding public
improvements (BART patron replacement parking garage, backbone infrastructure,
and placemaking improvements) the County will receive most of the ground lease
revenues (the basic split is 75% - 25% between the County and BART with some
additional recovery of costs provided to the County and the Redevelopment Agency
in the form of priority ground rents. Other forms of revenue accruing to the JPA
include participation in for-sale housing profits and participation in net sales
proceeds when the apartment retail, and/or office development are sold.
• The approval of business terms and a Disposition and Development Agreement
(DDA) by the JPA. The DDA is the agreement by which the Developer is able to
secure control of the property (primarily by ground lease, but a portion by sale of
property), and undertake the Transit Village development.
• Approval by the Redevelopment Agency of a Design and Construction Agreement
(the "DCA"). The DCA provided for the Agency to fund $42.9 million of the BART
Patron replacement parking garage cost, $44,461,000), as well as placemaking
improvements ($8 million).
• Approval by the Redevelopment Agency of an Agency Assistance Agreement (the
"Assistance Agreement") related to affordable housing and infrastructure. The
G: \BoardOrders\BOARD.RDA.1.22 . 08.rda.BART transit village
320\18\519890.1
Assistance Agreement provides for an up-front $2.5 million capital contribution for
affordable housing construction from housing set-aside funds, annual payment upon
completion of the affordable housing of approximately$870,000 from Housing Set-
Aside, and annual payments of$500,000 to offset borrowing costs of the Developer
for backbone infrastructure (roads, drainage, utilities, etc.).
• Approval by the Board of Supervisors of the sale of Multi-Familytax exempt bonds to
finance the rental component of the Transit Village. In March 2006, the county sold
$125 million in bonds to assure financing of the rental apartments was in-place prior
to proceeding with construction of the BART patron garage. Additional bonds are
expected to be sold in 2008 to fully fund the rental apartments.
D) Current Conditions/Recommendations
The previously cited agreements were entered into at a time of rapidly changing
economic conditions, particularly with respect to construction and material costs.
Furthermore, the Transit Village costs were being fine-tuned as the development program
was refined. In addition, the public policy objectives were slightly modified with the net
result being that elements of Transit Village programming and business terms need to be
refined to be consistent.
1. Transit Village Elements
The Transit Village development description is now as follows:
• 422 residential apartments(reduced from 449-units a smaller number
of larger units to be built)
• 100 For-Sale condominiums (no change in unit count, however
development schedule will be extended by six months to reflect
weakening market condition)
• 35,590 square feet of retail (no change)
• 19,400 square feet of business conference center (no change)
• 270,000 square feet of office (no change)
• 10 live-work/retail unites will be allowed to flex to commercial or
residential with stipulation that construction will permit conversion to
live-work when the market permits
• Civic use of approximately 2,300 square feet (no change)
2. BART Parking Structure Costs
The cost of the BART patron replacement parking garage has increased by
an estimated $4,739,000. Pursuant to prior direction of the Board, the
Agency and the Developer will share the responsibility for the cost increase
on a 50-50 basis. The Second Amendment to the Design and Construction
Agreement and the First Amendment to the Agency Assistance Agreement
provides for the Redevelopment Agency to contribute up to $2,369,500 in
additional funds.
3. Backbone Infrastructure Costs.
The costs of the streets, drainage and utilities was based on preliminary
designs, and estimated to cost approximately $6.1 million. The original
Agency Assistance Agreement provided for annual payments by the
Agency in the amount of $500,000 to offset borrowing costs, and was
based on this $6.1 million estimate. The actual cost of backbone
infrastructure is $14.6 million. The Second Amendment to the Design and
Construction Agreement and the First Amendment to Agency Assistance
Agreement provide for a revised plan of finance for Backbone
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320\18\519890.1
8. Development Schedule
In recognition of a construction start in the Spring 2008, the schedule of
performance has been amended in the First Amendment to DDA (between
the JPA and Developer). In addition, the Schedule of Performance for the
for-sale condominiums has been pushed back in recognition of the
deteriorating conditions in today's for-sale housing market. The additional
time, if needed, will allow the for-sale condominiums to be marketed in a
healthier housing market.
The development, as modified, is as follows:
Block B Apartments/Retail April 2008` - October 2009
Block A Apartments/Retail October 2008 —June 2010
Block C Condominiums/Retail June 2009# - December 2010
Block E Apartments January 2010—December 2010
Block D Office/Conference Center Subject to market conditions
.Assumes BART approval of partial occupancy of garage. If not approved add 4 months.
#Subject to housing market conditions
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320\18\519890.1
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on January 22, 2008, by the following vote:
AYES: ru )
NOES:
ABSENT:
ABSTAIN:
Resolution No.: 2008/45
SUBJECT: 1) Approving the form of Second Amendment to the Joint Exercise of
Powers Agreement for the Pleasant Hill BART Station Leasing Authority.
2) Consenting to the First Amendment to Agency Assistance Agreement
between the Redevelopment Agency of Contra Costa County (the "Agency") and
Pleasant Hill Transit Village Associates, LLC (the "Developer").
3) Making certain findings in connection with the approval of the First
Amendment to Agency Assistance Agreement.
The Board of Supervisors of Contra Costa County, California (The "Board") RESOLVES
THAT:
The Pleasant Hill BART Station Leasing Authority is a joint powers authority of Contra
Costa County (the "County"), the Agency and San Francisco Bay Area Rapid Transit District
("BART"). The Authority will lease and sell certain property surrounding the Pleasant Hill
BART Station (the "PH BART Property") to the Developer and oversee the development of the
PH BART Property. The Joint Exercise of Powers Agreement for the Pleasant Hill BART
Station Leasing Authority dated July 2, 2004 and amended on June 14, 2005 (the "JPA
Agreement") governs the activities and structure of the Authority.
The County desires to amend the terms of the JPA Agreement pursuant to the Second
Amendment to Joint Powers Agreement ("JPA Amendment"), the form of which is on file with
the County. The JPA Amendment will make certain adjustments to address the increased project
costs associated with the development of the PH BART Property and the Agency's assistance in
connection with the development of the PH BART Property.
The County adopted and the Agency is implementing the Redevelopment Plan for the
Pleasant Hill BART Station Redevelopment Project (the "Redevelopment Plan"). The
Redevelopment Plan was adopted pursuant to the authority of the Community Redevelopment
Law (the "CRL") (Health & Safety Code Sections 33000 et seq.) as Ordinance no. 84-30 on July
10, 1984.
The County desires to consent to the First Amendment to Agency Assistance Agreement
(the "Agency Assistance Amendment"), the form of which is on file with the County, in order to
encourage development of the PH BART Property in a manner contemplated by the
Redevelopment Plan. The Agency Assistance Amendment specifies how the added costs of the
BART Parking Structure and "Backbone Improvements" (such as public streets, utilities and
other infrastructure on the PH BART Property) will be accommodated. The Agency Assistance
Amendment also adjusts downward the estimated cost of the "Placemaking Improvements"(such
as parks, plazas, and the intermodal transit facility), and establishes a preference program for
public employees in the sale of certain for-sale housing units to be developed on the PH BART
Property by Developer.
rl�p�
320\18\519715.2 1
In connection with the County's consideration of this resolution, the Agency staff has
provided to the County a detailed staff report and attached materials.
In connection with its approval of the form of Agency Assistance Amendment and the
Agency's related funding of the construction of the BART Parking Structure, the Backbone
Improvements and the Placemaking Improvements (collectively, the "Public Improvements") as
provided for in such agreements, the County will make certain findings under Section 33445 of
the CRL.
The development of the Public Improvements which will be funded, in part, pursuant to
the Agency Assistance Agreement as amended by the Agency Assistance Amendment (the
"Amended Agency Assistance Agreement") is provided for pages 20 through 23 of the
Redevelopment Plan and in the Implementation Plan.
Pursuant to Section 33445 of the CRL, the Agency is authorized, with the consent of the
County, to pay part or all of the value of the cost of facilities which are publicly owned and are
of benefit to the Project Area.
NOW,THEREFORE, BE IT RESOLVED, that the Board finds the above recitals true
and correct.
BE IT FURTHER RESOLVED, that the Board hereby approves the form of JPA
Amendment subject to those reasonable modifications made by the Deputy Director-
Redevelopment -and approved by legal counsel to the County.
BE IT FURTHER RESOLVED, that the Board hereby finds that the development of the
Public Improvements to be funded by the Agency through the Amended Agency Assistance
Agreement are of benefit to the Project Area in that those improvements enable the completion
of the development of the Project Area, meet the goals of the Redevelopment Plan, eliminate
blighting conditions within the Project Area, and will facilitate development of the PH BART
Property with transit oriented development making use of the BART Station and other transit
facilities already located at the PH BART Property.
BE IT FURTHER RESOLVED, that the Board hereby finds that there are no other
reasonable means available to the County or BART for financing the development of the Public
Improvements to be funded by the Agency through the Amended Agency Assistance Agreement.
BE IT FURTHER RESOLVED, that the Board hereby finds that the payment of funds by
the Agency pursuant to the Amended Agency Assistance Agreement will eliminate one or more
blighting conditions in the Project Area in that the Public Improvements will facilitate the
development of the currently underutilized land adjacent to the BART Station and will provide
needed public facilities including plazas, parks, streets, pedestrian walkways and transit
facilities.
BE IT FURTHER RESOLVED, that the Board hereby finds that the payment of funds by
the Agency pursuant to the Amended Agency Assistance Agreement is consistent with the
Agency's Implementation Plan and the Redevelopment Plan in that the both the Implementation
Plan and the Redevelopment Plan contemplate construction of the Public Improvements and
development of the surface parking lots adjacent to the BART Station.
BE IT FURTHER RESOLVED, that pursuant to Section 33445 of the CRL, the Agency
is authorized, with the consent of the County, to pay part or all of the value of the cost of
facilities which are publicly owned and are of benefit to the Project Area.
BE IT FURTHER RESOLVED, that the County hereby gives its consent to the Agency
to pay part of the cost of the Public Improvements in accordance with this resolution and as set
forth in the Amended Agency Assistance Agreement subject to those reasonable modifications
made by the Redevelopment Director of the Agency and approved by legal counsel to the
Agency.
320\18\519715.2 2
BE IT FURTHER RESOLVED, that the County shall enter into any and all documents
and agreements necessary to accomplish the activities contemplated in this resolution, copies of
which shall be delivered to the members of the Board.
BE IT FURTHER RESOLVED, that the Deputy Director-Redevelopment, or in the
absence or unavailability of the aforementioned person, any officer of the County Board, acting
alone, shall be authorized and directed to execute the JPA Amendment and any and all necessary
agreements, certificates or documents necessary to perform and complete any activities
contemplated in this resolution and the JPA Agreement, as amended.
I hereby certify that this is a true and correct
copy of an action taken and entered on the
minutes of the B d of Supervisors on the
date shown.
ATTESTL 01: 024;t ,—
1:�Mr
JOHN C'=,1-LEN, Clerk of th oard-r
of S !is,o,rs an Countygdministrator
,3y Deputy
320\18\519715.2 3
CERTIFICATE OF SECRETARY
I certify that this is a true and correct copy of an action taken and entered on the minutes
of the Board of Supervisors of Contra Costa County, California and that Resolution
2008/45 was approved by the Board of Supervisors of the County on January 22, 2008.
ATTESTED: January 22, 2008.
John Cullen, Clerk of the Board of
Supervisors and County Administrator
1
By o )JU4104,176eputy
320\18\519715.2 4
THE REDEVELOPMENT AGENCY OF CONTRA COSTA COUNTY
Adopted this Order on January 22, 2008, by the following vote:
AYES:
-.;.-�/![: OiE::
I V
NOES: /
ABSENT:
ABSTAIN:
Resolution No.: 2008/46
SUBJECT: 1) Approving the form of Second Amendment to the Joint Exercise of
Powers Agreement for the Pleasant Hill BART Station Leasing Authority.
2) Approving the form of First Amendment to Agency Assistance Agreement
between the Redevelopment Agency of Contra Costa County (the "Agency") and
Pleasant Hill Transit Village Associates, LLC (the "Developer").
3) Making certain findings in connection with the approval of the First
Amendment to Agency Assistance Agreement.
4) Making certain findings in connection with the preference provided to
public employees in the sale of the for-sale housing units to be developed on the
PH BART Property.
The Board of Directors of the Agency (the "Board") RESOLVES THAT:
The Pleasant Hill BART Station Leasing Authority is a joint powers authority of Contra
Costa County (the "County"), the Agency and BART. The Authority will lease and sell certain
property surrounding the Pleasant Hill BART Station (the "PH BART Property") to the
Developer and oversee the development of the PH BART Property. The Joint Exercise of
Powers Agreement for the Pleasant Hill BART Station Leasing Authority dated July 2, 2004 and
amended on June 14`h 2005 (the "JPA Agreement") governs the activities and structure of the
Authority.
The Agency desires to amend the terms of the JPA Agreement pursuant to the Second
Amendment to Joint Powers Agreement ("JPA Amendment"), a copy of which is on file with the
Agency. The JPA Amendment will make certain adjustments to address the increased project
costs associated with the development of the PH BART Property and the Agency's assistance in
connection with the development of the PH BART Property.
The County adopted and the Agency is implementing the Redevelopment Plan for the
Pleasant Hill BART Station Redevelopment Project (the "Redevelopment Plan"). The
Redevelopment Plan was adopted pursuant to the authority of the Community Redevelopment
Law (the "CRL") (Health & Safety Code Sections 33000 et seq.) as Ordinance no. 84-30 on July
10, 1984.
The Agency desires to approve the form of First Amendment to Agency Assistance
Agreement (the "Agency Assistance Amendment"), the form of which is on file with the
Agency, in order to encourage development of the PH BART Property in a manner contemplated
by the Redevelopment Plan. The Agency Assistance Amendment specifies how the added costs
of the BART Parking Structure and "Backbone Improvements" (such as public streets, utilities
and other infrastructure on the PH BART Property) will be accommodated. The Agency
Assistance Amendment also adjusts downward the estimated cost of the "Placemaking
Improvements"(such as parks, plazas, and the intermodal transit facility), and establishes a
preference program for public employees in the sale of certain for-sale housing units to be
developed on the PH BART Property by Developer.
320\18\519712.2 1
In connection with the Agency's consideration of this resolution, the Agency staff has
provided to the Agency a detailed staff report and attached materials.
In connection with its approval of the form of Agency Assistance Amendment and the
Agency's related funding of the construction of the BART Parking Structure, the Backbone
Improvements, and the Placemaking Improvements, (collectively the "Public Improvements") as
provided for in such agreements, the Agency will make certain findings under Section 33445 of
the CRL.
The development of the Public Improvements which will be funded, in part, pursuant to
the Agency Assistance Agreement as Amended by the Agency Assistance Amendment
("Amended Agency Assistance Agreement") is provided for pages 20 through 23 of the
Redevelopment Plan and in the Implementation Plan.
Pursuant to Section 33445 of the CRL, the Agency is authorized, with the consent of the
County, to pay part or all of the value of the cost of facilities which are publicly owned and are
of benefit to the Project Area.
On January 22, 2008 by Resolution No. 2008/45, the County gave its consent to the
Agency to pay part of the cost of the Public Improvements pursuant to the Amended Agency
Assistance Agreement and made the required findings pursuant to Section 33.445 of the CRL.
The preference provided to public employees in the sale of the for-sale units to be
developed on the PH BART Property serves several important government purposes that cannot
otherwise be served due to, among other factors, public budgeting constraints. Such preference
will reduce commute times, traffic, quality of life among public employees and provide an
incentive to attract new and retain existing quality employees to the public sector.
NOW,THEREFORE, BE IT RESOLVED, that the Board finds the above recitals true
and correct.
BE IT FURTHER RESOLVED, that the Board hereby approves the form of JPA
Amendment subject to those reasonable modifications made by the Redevelopment Director of
the Agency and approved by legal counsel to the Agency.
BE IT FURTHER RESOLVED, that the Board hereby approves the form of Agency
Assistance Amendment and the transactions contemplated thereby, subject to those reasonable
modifications made by the Redevelopment Director of the Agency and approved by legal
counsel to the Agency.
BE IT FURTHER RESOLVED, that the Board hereby finds that the development of the
Public Improvements to be funded by the Agency through the Amended Agency Assistance
Agreement are of benefit to the Project Area in that those improvements enable the completion
of the development of the Project Area, meet the goals of the Redevelopment Plan, eliminate
blighting conditions within the Project Area, and facilitate development of the PH BART
Property with transit oriented development making use of the BART Station and other transit
facilities already located at the PH BART Property.
BE IT FURTHER RESOLVED, that the Board hereby finds that there are no other
reasonable means available to the County or BART for financing the development of the Public
Improvements to be funded by the Agency through the Amended Agency Assistance Agreement.
BE IT FURTHER RESOLVED, that the Board hereby finds that the payment of funds by
the Agency pursuant to the Amended Agency Assistance Agreement will eliminate one or more
blighting conditions in the Project Area in that the Public Improvements will facilitate the
development of the currently underutilized land adjacent to the BART Station and will provide
needed public facilities including plazas, parks, streets, pedestrian walkways and transit
facilities.
BE IT FURTHER RESOLVED, that the Board hereby finds that the payment of funds by
the Agency pursuant to Amended the Agency Assistance Agreement is consistent with the
320\18\519712.2 2
Agency's Implementation Plan and the Redevelopment Plan in that the both the Implementation
Plan and the Redevelopment Plan contemplate construction of the Public Improvements and
development of the surface parking lots adjacent to the BART Station.
BE IT FURTHER RESOLVED, that pursuant to Section 33445 of the CRL, the Agency
is authorized, with the consent of the County, to pay part or all of the value of the cost of
facilities which are publicly owned and are of benefit to the Project Area.
BE IT FURTHER RESOLVED, that on January 22, 2008 by Resolution No. 2008/45, the
County gave its consent to the Agency to pay part of the cost of the Public Improvements and
made the required findings pursuant to Section 33445 of the CRL.
BE IT FURTHER RESOLVED, that the Agency shall enter into any and all documents
and agreements necessary to accomplish the activities contemplated in this resolution, copies of
which shall be delivered to the members of the Board.
BE IT FURTHER RESOLVED that the Agency has considered and hereby approves the
preference provided to public employees in the sale of the for-sale units to be developed on the
PH BART Property.
BE IT FURTHER RESOLVED, that the Redevelopment Director of the Agency, or in
the absence or unavailability of the aforementioned person, any officer of the Agency Board,
acting alone, shall be authorized and directed to execute the JPA Amendment and the Agency
Assistance Amendment, subject to those reasonable modifications made by the Redevelopment
Director of the Agency and approved by legal counsel to the Agency, and any and all necessary
agreements, certificates or documents necessary to perform and complete any activities
contemplated in this resolution and the JPA Agreement, as amended by the JPA Amendment,
and the Amended Agency Assistance Agreement.
BE IT FURTHER RESOLVED, that the Board hereby authorizes the expenditure of up
to Two Million Eight Hundred Thousand Dollars ($2,800,000) from unobligated capital tax
increment, bond funds and reimbursement funds, if available, for other unfunded projects in the
Project Area that are compatible with and supportive of the project to be developed on the BART
Station Property.
I hereby certify th9t this is a true and correct
copy of --� ^ntered on the
minutes � ;:. ;;ors
date shown on the
ATTESTED-1 iBoard
JOH CULLEhi, Clerk o e
Of Su rvi ors and C2n gdMistra tor
pad
320\18\519712.2 3
CERTIFICATE OF SECRETARY
I hereby certify that this is a true and correct copy of an action taken and entered on the
minutes of the Governing Board of the Contra Costa County Redevelopment Agency and
that Resolution 2008/46 was approved by the Board of Directors of the Agency on
January 22, 2008.
ATTESTED: January 22, 2008
John Cullen, Agency Secretary
By Deputy
320\18\519712.2 4
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