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HomeMy WebLinkAboutRDA Reso 25-2009RESOLUTION NO. 25-2009 REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA A RESOLUTION AUTHORIZING THE EXPENDITURE OF TAX INCREMENT FUNDS FOR THE ACQUISITION OF LAND REQUIRED IN CONNECTION WITH THE CALTRAIN STATION IMPROVEMENT PROJECT, ADOPTING FINDINGS REQUIRED BY HEALTH AND SAFETY CODE SECTION 33445, AND AUTHORIZING EXECUTION OF AN OPTION TO PURCHASE AND PURCHASE AND SALE AGREEMENT. WHEREAS, the Redevelopment Agency of the City of South San Francisco ("Agency") is a redevelopment agency formed, existing and exercising its powers pursuant to California Community Redevelopment Law, Health and Safety Code Section 33000 et seq. ("CRL"); WHEREAS, by Ordinance No. 1056-89, the City Council of the City of South San Francisco ("City Council") established the Downtown/Central Redevelopment Project (the "Project Area") and adopted the Redevelopment Plan for the Project Area (as subsequently amended, the "Redevelopment Plan"); WHEREAS, City and Agency staff have been collaborating on a joint project to construct a new Caltrain Station and related public improvements including a pedestrian tunnel connecting the east and west side of the Caltrain Station from Airport Boulevard to East Grand Avenue at Route 101 in the City (the "Project"); WHEREAS, in connection with the Project the Agency proposes to acquire property owned by the State of California located at State Route 101, 4-SM-101 PM 22, known as a portion of 296 Airport Boulevard (the "Property"); WHEREAS, as lead agency, the Peninsula Corridor Joint Powers Board filed a Notice of Exemption under the California Environmental Quality Act ("CEQA") for the Project on September 1, 2006; WHEREAS, the State of California, acting through the California Department of Transportation and the Agency have negotiated an option to purchase and purchase and sale agreement ("Purchase and Sale Agreement") a copy of which has been provided to the Agency governing board and is on file with the Agency Secretary; WHEREAS, the Purchase and Sale Agreement provides for a purchase price of One Million Three Hundred Thousand Dollars ("Purchase Price") which shall be reduced by the amount of Five Hundred Thirty-Seven Thousand Dollars ($537,000), a sum equal to the estimated cost of environmental remediation of the Property, which shall be the Agency's responsibility; WHEREAS, Section 33445 of the CRL provides that a redevelopment agency may, with the consent of the legislative body, pay for all or a portion of the cost of the land for and cost of construction of any building, facility, structure, or other improvements that are publicly owned and located within or contiguous to the redevelopment project area if the legislative body determines all of the following: a. The buildings, facilities, structures, or other improvements are of benefit to the project area or the immediate neighborhood in which the project is located; and b. No other reasonable means of financing the buildings, facilities, structures, or other improvements is available to the community; and c. The payment of funds for the cost of buildings, facilities, structures, or other improvements will assist in the elimination of one or more blighting conditions inside the project area; and d. The project is consistent with the Five Year Implementation Plan adopted by the Agency pursuant to Section 33490; WHEREAS, as more fully described in the Staff Report accompanying this Resolution (the "Report"), the proposed expenditure of tax increment funds for land acquisition and environmental remediation will enable the City and the Agency to proceed with the development of a new Caltrain station and related public improvements that will assist in the attraction and retention of businesses in the Project Area, increase economic activity, improve circulation, and encourage private investment in the Project Area; WHEREAS, as more fully described in the Report, the expenditure of tax increment funds for the Project will be of benefit to the Project Area and the immediately surrounding area by increasing transit ridership and promoting transit-oriented development; WHEREAS, as more fully described in the Report, the expenditure of tax increment funds for the Project is consistent with the Implementation Plan adopted by the Agency pursuant to Health and Safety Code Section 33490, in that the Project will further the goals and objectives of the Redevelopment Plan, improve the appearance of the Project Area, promote transit-oriented development, improve access to Project Area businesses, and support economic development; and WHEREAS, as more fully described in the Report, the Project will not generate cash flow to the City or Agency, and therefore cannot support debt service; the City has no unrestricted general fund revenue available for the Project without a reduction in vital community services; and the City does not have and cannot reasonably obtain revenue available for such purposes, and therefore no other reasonable means of financing the acquisition and remediation of the Property exists. NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of South San Francisco that it hereby: 1. Finds based upon the foregoing recitals and the evidence set forth in the Report, that: (i) the expenditure of tax increment funds to acquire and remediate the Property will be of benefit to the Project Area, (ii) no other reasonable means of financing such acquisition is reasonably available, (iii) completion of the Project will assist in the elimination of blighting conditions in the Project Area; and (iv) completion of the Project is consistent with the Implementation Plan adopted for the Project Area. 2. Approves the Agency's expenditure of tax increment funds in the amount of the Purchase Price for the acquisition and environmental remediation of the Property. 3. Approves the Purchase and Sale Agreement and authorizes the Executive Director to execute such agreement substantially in the form presented to the Agency Board with such modifications as may be approved by the Executive Director in consultation with Agency Counsel. 4. Authorizes the Executive Director to undertake such other actions and to execute such other instruments as may be necessary or desirable in order to carry out the intent of this Resolution, including without limitation, the execution and recordation of a Certificate of Acceptance for the Property and the procurement of a policy of title insurance. * * * ~ ~ I hereby certify that the foregoing Resolution was regularly introduced and adopted by the Redevelopment Agency of the City of South San Francisco at a regular meeting held on the 9`'' day of December, 2009 by the following vote: AYES: Boardmembers Pedro Gonzalez, Richard A. Garbarino, and Karyl Matsumoto, Vice Chair Kevin Mullin and Chair Mark Addie~o NOES: None ABSTAIN: None ABSENT: None ~ - - ATTEST: City Clerk