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HomeMy WebLinkAboutRESOLUTIONS - 01012003 - 2003-659 TIDE REDEVELOPMENT AGENCY OF CONTRA COSTA COUNTY, CALIFORNIA Adopted this Order on October 28, 2003,by the following vote: AYES: avervisors Gioia,, Uilkema, Greenberg, Glavex and Desaulnier NOES: Mm ABSENT: None ABSTAIN: Nene Resolution No.. !23/659 SUBJECT: (1)Authorizing execution of an amendment to a Disposition, Development and Loan Agreement previously executed with Resources for Community Development, a California nonprofit public benefit corporation("RCD"), and OBG At Bay Point, LLC, a California limited liability company ("OBG"), (2) making findings and approvals pursuant to the California Community Redevelopment Law,(3) approving the expenditure of Agency funds for the construction of certain infrastructure improvements,and(4)approving execution of an Infrastructure Agreement with RCD and OBG. The Contra Costa County Redevelopment Agency RESOLVES THAT: The Board of Supervisors (the"Board")of the County of Contra Costa(the"County") adopted the Bay Point Redevelopment Plan by Ordinance No. 87-102 on December 29, 1987, and subsequently amended by Ordinance No. 94-64 on December 6, 1994 and Ordinance No. 99-05 on February 23, 1999 (the"Redevelopment Plan"),which Redevelopment Plan sets forth a plan for redevelopment of the Bay Point Redevelopment Project Area(the "Project Area"). The Contra Costa County Redevelopment Agency(the "Agency") is responsible for administering the Redevelopment Plan to cause redevelopment of the Project Area, including assembly, site preparation and redisposition of property both within and outside the Project Area for private redevelopment consistent with the Redevelopment Plan. The Agency owns an approximately 9.22-acre site(the "Property") located within the Project Area,bounded by Pullman Avenue, Bella Monte Avenue, Fairview Street and Willow Pass Road. The Agency,RCD and the O'Brien Group, a California corporation ("O'Brien"), entered into a Disposition,Development and Loan Agreement dated as of March 11, 2003 (the"DDLA") governing the transfer and redevelopment of the Property through the construction by RCD of fifty-two(52)multifamily rental apartment units affordable to low and moderate income persons 320107\172321.1 1 RESCUTF M 20031659 (the "Apartment Improvements") on a portion of the Property(the "RCD Site") and the construction by O'Brien of sixty-nine(69) single family homes for owner occupancy(the"Single Family Improvements")on a portion of the Property(the "OBG Site")(collectively,the "Development"). Pursuant to an Assignment and Assumption Agreement dated June 24, 2003, OBG assumed all of O'Brien's rights and obligations under the DDLA. RCD and OBG shall be collectively referred to as the Developers. The DDLA anticipated that OBG would pay the Agency the purchase price for the OBG Site upon transfer of the OBG Site from the Agency to OBG. Due to increase development costs,OBG desires to delay paying the Agency the purchase price for the OBG Site until sale of the single family homes that are part of the Single Family Improvements and desires to delay paying certain impact fees to the County until sale of the homes. The Agency desires to execute an amendment to the DDLA substantially in the form on file with the Clerk of the Board and the Agency Secretary: (i)delaying payment by OBG of the purchase price for the OBG Site to the Agency until sale of the Single Family Improvements to homebuyers; (ii)requiring execution of a promissory note and deed of trust to secure payment of the purchase price by OBG; (ii) acknowledging that the payment of certain fees by OBG will be deferred until sale of the Single Family Improvements; and(iii)addressing other matters related to the disposition of the Property(the"DDLA Amendment"). Pursuant to Section 33445 of the Community Redevelopment Law(Part I of Division 24 of the Health and Safety Code of the State of California(the "Law")), the Agency is authorized, with the consent of the Board,to pay part or all of the cost of the installation and construction of any building, facility, structure, or other improvement which is publicly owned and is of benefit to the Project Area. The construction of certain infrastructure improvements(the"Infrastructure Improvements") including the construction of sewer and drainage facilities and traffic improvements on the streets bordering the Development, is necessary to the successful redevelopment of the Property and will therefore be of benefit to the entire community surrounding the Development,and the Project Area as a whole. By resolution number RA2003-01, the Agency committed Five Hundred Seventy Thousand Six Hundred Forty Nine Dollars($570,649)in Agency funds for the Infrastructure Improvements serving the Apartment Improvements. Upon fin-ther refinement of the Development plan the Agency and the Developers determined that an additional Nine Hundred Thirty Nine Thousand One Hundred Twenty Dollars ($935,403)is necessary to construct the Infrastructure Improvements. The Agency desires to commit an additional $935,403 in Agency funds for the construction of the Infrastructure Improvements serving the entire Development. The Agency commitment of$935,403 in Agency funds for the Infrastructure Improvements serving the Development(the "Infrastructure Improvements Financing 320\07\172321.1 2 Commitment")is consistent with the Agency's five-year Implementation Plan(the "Implementation Plan"). The Agency and the Developers desire to enter into an infi-astructure agreement(the "Infrastructure Agreement")as contemplated under the DDLA, governing the construction of the Infrastructure Improvements and the disbursement of the Infrastructure Improvements Financing Commitment. By resolution number RA2003-01 the Agency made the findings required by Section 33433 of the Law governing the transfer of the Property and prepared a summary called for in the Law(the "Section 33433 Summary"). The Agency desires to amend the Section 33433 Summary to indicate that the cost of the Project to the Agency has increased by the amount of the Infrastructure Improvements Financing Commitment and to reflect the fact that OBG shall pay the purchase price for the OBG Site upon close of escrow on the sale of the single family homes. The Agency has placed on file a copy of the DDLA Amendment and amendment of the Section 33433 Summary(the"33433 Amendment"),and has made the DDLA Amendment and the 33433 Amendment available for public inspection and copying pursuant to Section 33433 of the Law. The Section 33433 Amendment is incorporated in this Resolution by this reference. The Board and the Agency have conducted a duly noticed public hearing on the DDLA Amendment and 33433 Amendment pursuant to Section 33433 of the Law for the purpose of receiving the input and comments of the public on the 33433 Amendment. The Mitigated Negative Declaration previously prepared by the Agency and the County to serve as the environmental documentation under the California Environmental Quality Act for the redevelopment of the Property including construction of the Infrastructure Improvements and the consideration of the DDLA continues to serve as the environmental documentation for purposes of compliance with the California Environmental Quality Act for consideration of the DDLA Amendment, the Infrastructure Agreement and the Infrastructure Improvements Financing Commitment. By staffreport accompanying this Resolution and incorporated into this Resolution by this reference(the "Staff Report"), the Agency has been provided with additional information upon which the findings and actions set forth in this Resolution are based. NOW,THEREFORE, BE IT RESOLVED, that the Agency finds that the above recitals are accurate. BE IT FURTHER RESOLVED, in compliance with Section 33445 of the Law,that the Agency hereby approves the Infrastructure Improvements Financing Commitment and finds that based on the facts and analysis set forth in the Staff Report that the County does not have current or reasonably anticipated future revenues to fund such cost, and, as a result there are no County 320VA172321.1 3 ftmds allocated ip the County's capital improvement budget to pay such costs. There are no current or reasonably anticipated other governmental funding sources to pay costs of the Infrastructure Improvements at the federal, state, or local level. BE IT FURTHER RESOLVED,that construction of the Infrastructure Improvements is an integral component of the Development;that close coordination is required between construction of the Infrastructure Improvements and the surrounding simultaneous construction of the Development;that timely completion of the Infrastructure Improvements is essential to the overall elimination of blight in this portion of the Project Area, and,in turn,to the successful redevelopment of the Property; and that,under these circumstances, construction of the Infrastructure Improvements can be most efficiently,timely, and cost-effectively performed by and under the supervision of the Developers and in accordance with the Infrastructure Agreement. BE IT FURTHER RESOLVED,that the Agency hereby approves the Infrastructure Agreement and approves execution by the Agency Redevelopment Director of the Infrastructure Agreement in substantially the form on file with the Clerk of the Board and the Agency Secretary,with such changes as are approved by the Agency Redevelopment Director(such approval to be conclusively evidenced by the execution of the Infrastructure Agreement). BE IT FURTHER RESOLVED, that pursuant to Section 33433 of the Law,the Agency hereby approves the DDLA Amendment, the 33433 Amendment and all ancillary documents; approves execution by the Agency Redevelopment Director of the DDLA Amendment and all ancillary documents in substantially the form on file with the Clerk of the Board and the Agency Secretary, with such changes as are approved by the Agency Redevelopment Director(such approval to be conclusively evidenced by the execution of the DDLA Amendment). BE IT FURTHER RESOLVED that the Agency designates the Clerk of the Board and the Secretary of the Agency as the custodian of the documents and other material which constitute the record of proceedings upon which the decision herein is based. These documents may be found at the office of the Agency at 651 Pine Street,North Wing,4th Floor Martinez, CA 94553. BE IT FURTHER RESOLVED that this Resolution shall take immediate effect from and after its passage. I hereby certify that this Is a true and cormot copy of an action taken and entered on tie minutes of the Board of Supervisors on the date shown. ATTESTED:Pit—Ober _28.4 .2003 JOHN SWSSTIS- No Iork of the Board 01Mervid d strator '0 RR \J 3201071172321.1 4