HomeMy WebLinkAboutReso 57-2004RESOLUTION NO. 57-2004
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROVING THE USE OF TAX INCREMENT
GENERATED BY THE DOWNTOWN/CENTRAL
REDEVELOPMENT PROJECT TO PAY FOR COST OF
ACQUIRING THE SOUTH SAN FRANCISCO CONFERENCE
CENTER SITE
WHEREAS, the Redevelopment Agency of the City of South San Francisco (the "Agency")
and the City have heretofore entered into a Joint Exercise of Powers Agreement dated September 11,
1991, establishing the City of South San Francisco Capital Improvements Financing Authority (the
"Financing Authority") for the purpose of providing an entity which can assist in providing
financing for purposes which are authorized under the Joint Powers Law (Section 6500 etseq, of the
California Government Code); and
WHEREAS, a Redevelopment Plan for the Downtown/Central Redevelopment Project (the
"Project Area"), in the City of South San Francisco (the "City"), has been adopted in compliance
with all requirements of the Law; and
WHEREAS, a transient occupancy tax in the amount of $2.50 per day per room is levied and
collected by the City for the exclusive purpose of funding the establishment and maintenance of a
conference center in the City (the "Conference Center Tax") pursuant to Ordinance No. 1066-89,
adopted by the City Council of the City on July 12, 1989 and approved by the voters on November 7,
1989, and Section 4.20.035 of the City's municipal code; and
WHEREAS, the City originally took possession of the land and facilities at 255 South
Airport Boulevard (the "Conference Center Site"), pursuant to a long term lease with Erwin W.
Mayer and Josephine Anne Mayer, his wife, as landlord (the "Prior Owners"), dated as of December
1, 1989; and
WHEREAS, the Conference Center is located just outside the boundaries of the Downtown
Redevelopment Project Area (the "Project Area"); and
WHEREAS, the City caused to be executed and delivered $6,145,000 1999 Certificates of
Participation (the "1999 Certificates") pursuant to a Trust Agreement, dated as of January 1, 1999,
among the City, the Financing Authority and U.S. Bank Trust National Association for the purpose
of funding the acquisition of the Conference Center Site from the Prior Owners, and as a result of
such acquisition, the City is cun'ently the owner of the Conference Center Site and the Conference
Center; and
WHEREAS, the Agency has determined to pay for the cost of acquiring the Conference
Center Site with tax increment generated by the Project Area.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco that:
The City hereby specifically finds and declares that the actions authorized hereby constitute
the municipal purposes of the City, and that the statements, findings and determinations of
the City set forth herein are true and correct.
A public hearing has been duly conducted by the City Council on the question of whether the
Agency shall pledge tax increment from the Project Area to pay the cost of acquiring the
Conference Center Site, and every person wishing to speak on that issue has been heard.
a) the Conference Center (including the Conference Center Site) is of benefit to the
Project Area for several reasons, among them:
i. It has attracted new hotel development into the project area;
ii. It has given project area businesses much needed meeting space at reasonable
rates.
iii. It has attracted new business investment into the Project Area.
b) no other reasonable means of financing the acquisition of the Conference Center Site
are available to the City
c)
that the payment of tax increment for the Conference Center Site, by making payments
on the 1999 Certificates, will assist in the elimination of one or more blighting
conditions in the Project Area, and is consistent with the Implementation Plan adopted
pursuant to Section 33490 of the Health and Safety Code
d) use of tax increment for acquisition of the Conference Center site is consistent with the
most recent Redevelopment Implementation Plan
o
The City Manager, Finance Director, City Clerk, and all other appropriate officials of the City
are hereby authorized and directed to execute such agreements, documents and certificates as
may be necessary to affect the purposes of this resolution and the payment herein authorized.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by
the City Council of the City of South San Francisco at a regular meeting held on the 23rd day of
June 2004 by the following vote:
AYES:
Councilmembers Richard A. Garbarino and Pedro Gonzalez, and Mayor Kary1
Matsumoto
None.
NOES:
ABSTAIN: None.
ABSENT:
Councilmember Joseph A. Femekes and Vice Mayor Raymond L. Green
~/J/-' - Deput37 City Clerk