The URL can be used to link to this page

Home My WebLink AboutMINUTES - 07121994 - 1.124 �- Contra TO: REDEVELOPMENT AGENCY •.� Costa FROM: Phil Batchelor J County Executive Director GA DATE: July 12, 1994 SUBJECT: North Richmond Flood Control Financing SPECIFIC REQUEST(S) OR RECOMMENDATIONS (S) & BACKGROUND AND JUSTIFICATION RECOMMENDATIONS ADOPT the following findings relative to North Richmond Redevelopment Project Area funding of the Wildcat/San Pablo Creek Flood Control Project: 1 . That the Project will be of benefit to the Redevelopment Project Area; 2 . No other reasonable means of financing the improvements are available; and 3 . The funding will assist in the elimination of blighting conditions in the North Richmond Redevelopment Project Area; q. APPROVE commitment of future North Richmond Redevelopment revenues to cover $400, 000 of capital costs necessary to complete the' Wildcat-San Pablo Creek Flood Control Project; and AUTHORIZE the Chair, Vice-Chair, Executive Director, or Deputy Director to execute an Agreement with the Contra Costa County Flood Control and Water Conservation District. CONTINUED ON ATTACHMENT: YES SIGNATURE : ?Ile��C/� G/ RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATION O AGENCY COMMITTEE APPROVE OTHER SIGNATURE (S) ACTION OF AGENCY ON July 12 , 1994 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 AGENCY ON THE DATE SHOWN. Contact: Jim Kennedy 646-4076 ATTESTED July 12 , 1994 cc: County Administrator PHIL BATCHELOR County Counsel AGENCY SECRETARY Auditor-Controller BY , DEPUTY JK:1h _4140- sra19/nrflood.bos FISCAL IMPACT No General Funds are involved. The commitment of Agency revenues will permit the Flood Control District to meet a local match requirement necessary to secure approximately $6 million in Federal Corp of Engineers funding to complete the Wildcat/San Pablo Creek Flood Control Project. BACKGROUND/REASONS FOR RECOMMENDATIONS On April 26, 1994, the Agency approved the use of North Richmond Redevelopment revenues for financing the final component of the Wildcat/San Pablo Creek Flood Control Project. Counsel has advised that the legislative body must make certain determinations when construction of a building facility structure or other improvement which is publicly owned is contemplated. The findings are required by Section 33445 (a) of the Health and Safety Code, including: 1 . That the project will be of benefit to the Redevelopment Project Area; 2 . No other reasonable means of financing the improvements are available; and 3 . The funding will assist in the elimination of one or more blighting conditions in the Redevelopment Project Area. FINANCIAL PARTICIPATION AGREEMENT BETWEEN THE CONTRA COSTA COUNTY REDEVELOPMENT AGENCY AND THE CONTRA COSTA COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT RELATING TO THE WILDCAT-SAN PABLO CREEK FLOOD CONTROL PROJECT This Agreement is entered into as of the 26th day of April, 1994, by and between the Contra Costa County Redevelopment Agency, a public body corporate end politic(,Agency") and the Contra Costa County Flood Control and Water Conservation District, a political subdivision of the State of California("District") pursuant to the joint exercise of powers provisions of California Government Code Sections 6500-6522, and Health and Safety Code Section 33445. RECITALS 1. On July 14, 1987, by Ordinance No. 87-50, the Agency adopted the North Richmond Redevelopment Plan (the "Plan"). The Plan calls for public improvements in the North Richmond Redevelopment Project Area("Project Area")that will eliminate blight and result in overall benefit to the Project Area residents. 2. The District is currently involved in constructing the Wildcat-San Pablo Creek Project (the "Flood Control Project"). The Flood Control Project consists of channel improvements in the lower reaches of the two streams west of the Santa Fe Railroad right-of-way. The channel improvements have been completed to the Southern Pacific Railroad right-of-way. The completion of the Flood Control Project, to which the Agency funding would be applied, is the completion of channel improvements from the Southern Pacific Railroad right-of-way to the Santa Fe Railroad right-of-way ("Contract 3 and Contract 3A!'). Drainage improvements are identified in the Plan as improvements eligible to receive Agency funding. 3. It is the determination of the Agency that the improvements constructed as part of the Flood Control Project are ofbenefit to the Project Area because it will remove a significant amount of land in the Project Area from the 100-year Floodplain, as designated by the National Flood Insurance Program;that the District has sought every reasonable source of financing for the required local match, including the District reducing Districtwide planning costs to the maximum prudent level, and that no other reasonable means of financing the final $400,000 gap exists; and the funding of the Flood Control Project addresses blighting conditions identified in the Plan, including the lack of adequate infrastructure, that has contributed to a level of disinvestment in the Project Area that inhibits the generation of employment-related development which would, in turn, assist in addressing blight characterized as social and economic maladjustment, and manifested as very low income levels, high unemployment, and a significant criminal justice problem. 4. By this Agreement,the Agency and the District desire to provide for thdTunding of a portion of the cost of the installation and construction of the Flood Control Project between the Southern Pacific Railroad and the Santa Fe Railroad rights-of-way. 5. This Agreement shall constitute an indebtedness of the Agency for the purposes of carrying out the Redevelopment Project for the Project Area, which indebtedness may be made payable out of taxes levied in the Project Area and allocated to the Agency under Subdivision (b) of Health and Safety Code Section 33670, or out of any other available funds of the Agency. AGREEMENT Agency and District hereby agree as follows: I. BRROVEMENTS The total improvements to be constructed as part of Contract 3 and Contract 3A of the Flood Control Project are as follows (the "Improvements"): Channel improvements from the Southern Pacific Railroad right-of-way to the Santa Fe Railroad right-of-way("Contract 3 and Contract 3A"). II. METHOD The District shall prepare the plans and specifications, advertise for bids, award the Project, administer the contract, perform all construction, installation and inspection and take any other actions necessary for the completion of Improvements. The Agency's participation shall be limited to the payment of a portion of the Project costs as set forth in Section III of this Agreement- M. COST A. The approximate total cost of the Contract 3 and Contract 3A Improvements to be pro a constructed pursuant to this Agreement is S . Agency and District *1 agree that all of the costs of the installation and construction of the Flood Control Project will be paid or provided for initially by the Flood Control District. The Agency's contribution to the costs of construction and installation shall be limited to the total sum of$400,000, plus simple interest accruing from and after January 1, 1996 until paid in full, as further described in Subsection B hereof. 2 B. (1) The Agency's obligation to make payment pursuant to this Section III shall be in accordance with the following terms and conditions: On the later of(i) six (6)years from the effective date of this Agreement, or(ii)the date of sale of the District's parcel 408-201-017 referenced in this Section III, Paragraph B.(2)below, Agency shall pay to the District the principal sum of$400,000, plus any accrued interest, in full satisfaction of its obligations under this Agreement. No interest shall accrue on said sum prior to January 1, 1996. Any"amount of principal that is not paid on or before January 1, 1996 shall bear simple interest from January 1, 1996 until paid in full at a rate of interest equal to the rate of interest paid by the District on the borrowed funds. (2) The Agency obligation described in Paragraph III.B.(1) may be reduced as follows: District commits to the sale of parcel number 408-201-017 (3rd and Brookside,North Richmond)by July 1, 2001, and the allocation of all revenues, less reasonable sales expenses, in excess of $500,000 ($3.64/sq. ft.) in the following manner: ( i.a) District and Agency interest cost on the $400,000 from July 1, 1994 through July 1, 2001 shall have first claim on said incremental increase in revenue; and (ii.b) District and Agency shall share equally the remaining increase in revenue. The District shall consult with the Agency prior to committing to any sale of the above parcel. IV. ACCOUNTABILM District shall be strictly accountable for all funds under its control. Upon request, District shall report all receipts and disbursements to the Agency and shall provide the Agency with any documentation deemed necessary by the Agency to verify said expenditures. V. TERM This Agreement shall remain in effect until all improvements have been constructed and all final payments required herein have been made. 3 VI. NO THIRD PARTY BENEFICIARIES Nothing in this Agreement is intended or shall be construed to create rights in any third person not a party to this Agreement. CONTRA COSTA COUNTY CONTRA COSTA COUNTY FLOOD REDEVELOPMENT AGENCY CONTROL AND WATER CONSERVATION DISTRICT By: By: Kennedy J. Mchael Walford D putt'Di or-Redevelopment Chief Engineer/Public Works Director XJ-W&24094 mnJ4AviWcaLW 4