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Home My WebLink AboutMINUTES - 06122007 - C.116 asp � - Contra Costa f County TO: REDEVELOPMENT AGENCY/BOARD OF SUPERVISORS FROM: John Cullen, Executive Director Dennis M. Barry, AICP, Director of Community Development DATE: June 12, 2007 SUBJECT: Bay Point Area Redevelopment Plan SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION RECOMMENDATIONS: As the Board of Supervisors, ADOPT Resolution authorizing proceeding with an amendment to the Redevelopment Plan for the Bay Point Redevelopment Project increasing the limit on the amount of bonds that may be outstanding, and-increasing the limit on the total amount of tax increment that the Agency may receive over the life of the Plan, and actions related thereto; and As the Governing Board of the Redevelopment Agency,ADOPT Resolution authorizing proceeding with an amendment to the Redevelopment Plan for the Bay Point Redevelopment Project increasing the limit on the amount of bonds that may be outstanding, and increasing the limit on the total amount of tax increment that the Agency may receive over the life of the Plan, and actions related thereto. FISCAL IMPACT: The proposed amendment to raise the cap on tax increment that may be received will trigger AB 1290 tax increment pass-through requirements once the current limit of $60 million is reached. All taxing agencies, including the County and County controlled agencies would begin receiving pass through payment at that time, which is estimated to occur in 2015 or later. BACKGROUND/REASONS FOR RECOMMENDATIONS: See next page. CONTINUED ON ATTACHMENT: X YES SIGNATURE: G,/,, ,,RECOMMENDATION OF EXECUTIVE DIRECTOR COMMEND TION OF A NCY COMMITTEE ,APPROVE OTHER SIGNATURE(S). ACTION OF AG Y/ON 'lZi- APPROVED AS RECOMMENDED , O AER ERVISORS // VOTE OF COMMISSIONERS/SUPERVISORS I HEREBY CERTIFY THAT THIS IS A y UNANIMOUS (ABSENT < ) 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. 5-7225 orig: Redevelopment Agency cc: County Administrator ATTESTED County Counsel Community Development JOHN CULLEN, CLERK OF via: Redevelopment THE BOARD OF SUPERVISORS/ AGENCY SECRETARY BY � �� , DEPUTY G:\CDBG-REDEV\redev\Alicia (formally LNoble) \Personal\Board Orders and Greenies\BOARD.RDA.6 .12 .07bay point area redevelopment.doc BACKGROUND/REASONS FOR RECOMMENDATIONS In preparing the recent issuance of Redevelopment Tax Allocation bonds approved by the Board of Supervisors/Redevelopment Agency on May 1,2007 became apparent that the Bay Point Redevelopment Plan needed to be amended to address remaining blight and accommodate planned activities, particularly those related to development in the BART area,the waterfront area,the employment area, and in the Bella Vista neighborhood. The specific amendments are to: • Raise the limit on the amount of bonds secured by a pledge of tax increment that may be outstanding at one time; and • Increase the limit on the total amount of tax increment that the Agency may receive over the term of the plan. The current limit on the amount of bonded indebtedness for Bay Point is $60 million. The current limit on the amount of tax increment that may be received is$116 million. It is currently estimated that the bonded indebtedness cap would be raised to$120 million (subject to change). The cap on tax increment that may be received is estimated to be raised to $350 - 450 million (subject to change). The analysis to be conducted during the amendment proceeding will determine the appropriate limits to be considered. The recommended actions will allow the legally prescribed process to move forward. The Board of Supervisors/Redevelopment Agency will have a recommended action regarding the Plan Amendment in nine to twelve months. G:\CDBG-REDEV\redev\Alicia (formally LNoble) \Personal\Board Orders and Greenies\BOARD.RDA.6.12.07bay point area redevelopment.doc THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA Adopted this Resolution on June 12, 2007, by the following vote: AYES: SUPERVISORS GIOIA, F. - BONILLA, AND PIEPHU NOES: NONE ° ABSENT: LuRkdgd-, ABSTAIN: NONL a couK� Resolution No. 2007/296 SUBJECT: (1) Authorizing proceeding with an amendment to the Redevelopment Plan for the Bay Point Redevelopment Project Area increasing the limit on the total amount of tax increment that the Redevelopment Agency may receive over the term of the plan, (2) concurring in designation of the Agency as the responsible agency and designating the County as the lead agency for the environmental review process for the adoption of the plan amendment, and (3) authorizing future transmittal of the CEQA documentation. The Contra Costa County Board of Supervisors RESOLVES THAT: The Board of Supervisors (the "Board") of the County of Contra Costa (the "County") adopted the Redevelopment Plan for the Bay Point Redevelopment Project Area (the "Redevelopment Plan") by Ordinance No. 87-102, adopted on December 29, 1987, as amended by Ordinance No. 94-64, adopted on December 6, 1994; as amended by Ordinance No. 99-05, adopted on February 23, 1999, as further amended by Ordinance No. 99-54, adopted on October 19; 1999, as further amended by Ordinance No. 2006-33, adopted on July 18, 2006, as further amended by Ordinance No.2007-25, adopted on June 5, 2007, establishing the Bay Point Redevelopment Project Area (the "Project Area") to be redeveloped in accordance with the provisions of the California Community Redevelopment Law (the "CRL", Health and Safety Code Section 3300 et seg.). During the course of Redevelopment Plan implementation by the Contra Costa County Redevelopment Agency (the "Agency"), it has become apparent that while progress has been made in revitalizing the Project Area, in order to effectively continue the redevelopment program planned for the Project Area, an amendment to the Redevelopment Plan is necessary and appropriate to increase the limit on the total amount of tax increment that the Agency may receive over the term of the Redevelopment Plan (the "Plan Amendment"). Section 15050 of the California Environmental Quality Act Guidelines (the "CEQA Guidelines") requires that when a project requiring environmental documentation is to be carried out or approved by more than one public agency, one public agency (the "Lead Agency") shall be responsible for preparing the environmental documentation for the project. Section 15051 of the CEQA Guidelines provides that where two or more public agencies have a substantial claim to be the Lead Agency, the public agencies may by agreement designate one of the agencies as the Lead Agency. The Agency and the County have agreed that the County, as the legal entity with final authority to approve and adopt the Plan Amendment pursuant to the CRL, should serve as the Lead Agency, and the Agency should serve as the "Responsible Agency." Pursuant to the CRL and CEQA, the Board is required to distribute the environmental documentation to all affected taxing entities, the County Planning Commission, and various other interested persons and entities. V NOW, THEREFORE, BE IT RESOLVED that the Board hereby authorizes proceeding with the Plan Amendment adoption process. BE IT FURTHER RESOLVED that the Board designates the County as the Lead Agency and the Agency as the Responsible Agency for purposes of the preparation of the environmental documentation for the proposed Plan Amendment. BE IT FURTHER RESOLVED that the Board authorizes and directs staff to undertake the analysis necessary to determine the environmental document that will be used in conjunction with the consideration of the proposed Plan Amendment, prepare the environmental document and distribute it to all affected taxing entities, the County Planning Commission, and various other interested persons and entities as required by law. 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 correct copy of an action taken and entered on the minutes of the Redevelopment Agency on the date shown: ATTESTED: June 12,2007 JOHN CULLEN,Executive Director and Agency Secretary By !Deputy -- s Agenda Date: 1 12- - 07 Number item Numbe Consider With Item: