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HomeMy WebLinkAboutReso RDA 18-2006 RESOLUTION NO. 18-2006 REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA A RESOLUTION AUTHORIZING THE USE OF TAX INCREMENT REVENUES FOR PUBLIC FACILITIES AND AN AMENDMENT TO THE SETTLEMENT AND RELEASE AGREEMENT WITH THE COUNTY OF SAN MATEO WHEREAS, the City of South San Francisco ("City"), the Redeveloplnent Agency of the City of South San Francisco ("Agency") and the County of San Mateo ("County") are parties to that certain Settlelnent and Release Agreement dated as of June 21, 2005 (the "Settlelnent Agreelnent"); and WHEREAS, the Settlement Agreelnent provides that following cOlnpliance with all requirelnents of law, including without lilnitation, the adoption by the County Board, the Agency Board and the City Council of all applicable findings required under California Community Redeveloplnent Law ("CRL"), the Agency will provide funding in an aggregate mnount not to exceed Five Million Dollars ($5,000,000) ("Settlelnent Funds") to fund SOlne or all of the public improvelnents identified in Exhibit A to the Settlelnent Agreelnent or such other projects as may be lnutually agreed upon by the Agency and the County; and WHEREAS, the County has proposed that the Agency allocate the sum of up to $950,000 from the Settlement Funds to partially finance the acquisition and rehabilitation of a 4-7 unit apartment building located in or near the Downtown/Central Redevelopment Project Area in order to provide transitional housing for participants in the County's Elnancipated Foster Youth Progrmn (the "Project"); and WHEREAS, Agency and County staff are continuing to evaluate options pursuant to which the County would use up to $950,000 of the Settlelnent Funds to partially finance the acquisition and rehabilitation of a building for the Project, subject to the conditions that: (i) the location of the Project will be subject to Agency approval, and (ii) if the Emancipated Foster Youth Progrmn ceases to operate at the selected Project site, the County will be required to request Agency approval of an alternate use for the acquired building; and WHEREAS, CRL Section 33445 provides that a redeveloPlnent agency may, with the consent of the legislative body of the benefited public entity, pay for the cost of buildings, facilities and other iInprovements which are publicly owned if the legislative body and the agency determine all of the following: 1. The buildings, facilities or improvelnents are of benefit to the project area or the immediately surrounding neighborhood; 2. No other reasonable means of financing the buildings, facilities or ilnprovelnents are available; 3. The paYlnent of funds for the acquisition of land or the cost of buildings, facilities or other ilnprovements will assist in the elilnination of one or lnore blighting conditions inside the project area or provide housing for low- or Inoderate-incOlne persons, and will be consistent with the implelnentation plan adopted by the redeveloplnent agency; and WHEREAS, the Project will be located within or near the Downtown/Central Redeveloplnent Project Area, and the acquisition and rehabilitation of a building for the Project will benefit the Project Area by facilitating the provision of services and affordable housing to at risk youth who live in the Project Area; and WHEREAS, the County Board of Supervisors has detennined that no other source of funds is reasonably available to the County to finance the acquisition and rehabilitation of a building for the Project, as revenue that might otherwise be available for such purposes is cOlnlnitted for other purposes; and WHEREAS, Agency and City staff are aware of no other source of funds reasonably available to the County or the Agency to finance the acquisition and rehabilitation of a building for the Project; and WHEREAS, the acquisition and rehabilitation of a building for the Project will enable the County to provide housing for low-incolne youth at risk of becOlning hOlneless, and is consistent with the Agency's housing goals set forth in the Agency's hnplementation Plan. NOW, THEREFORE, BE IT RESOLVED that the Redeveloplnent Agency of the City of South San Francisco hereby: 1. Finds, based upon the foregoing Recitals, that (i) the expenditure of tax increlnent funds to acquire and rehabilitate or to assist the County to acquire and rehabilitate a building for the Project will be of benefit to the Downtown/Central Project Area and the iInmediately surrounding neighborhood because the building will be located within or in ilnmediate proxilnity to the Project Area and the acquisition will facilitate the provision of services and affordable housing to at risk youth, (ii) no other reasonable lneans of financing the acquisition and rehabilitation of a building for the Project is reasonably available to the Agency or the County, and (iii) the expenditure of tax increlnent funds as contemplated by this Resolution will provide housing for low-income persons and is consistent with the Agency's Implementation Plan. 2. Authorizes the acquisition and rehabilitation of a building for the Project to be added to Exhibit A of the Settlement Agreement as a project eligible for funding under the Settlement Agreement, and authorizes the Agency Executive Director or his designee to execute and deliver an amendment to the Settlement Agreelnent consistent with this Resolution. 3. Autholizes the set aside of $950,000 in Agency tax increlnent funds to finance the acquisition and rehabilitation of a building for the Project, subject to the conditions that: (i) the location of the Project will be subject to Agency approval, and (ii) if the Elnancipated Foster Youth Progrmn ceases to operate at the selected Project site, the County will be required to request Agency approval of an alternate use for the acquired building. 4. Authorizes the Agency Executive Director or his designee to execute and deliver such other instrulnents and to take such other action as necessary to carry out the intent of this Resolution. * * * * * I hereby certify that the foregoing Resolution was regularly introduced and adopted by the Redeveloplnent Agency of the City of South San Francisco at a Regular lneeting held on the 13th day of December 2006 by the following vote: AYES: Boardlnelnbers Mark N. Addiego, Joseph A. Fernekes and Karvl Matsulnoto, Vice Chair Pedro Gonzalez and Chair Richard A. Garbarino NOES: ABSTAIN: ABSENT: