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HomeMy WebLinkAboutRDA RES 346RESOLUTION NO. 346 A RESOLUTION OF THE PALM DESERT REDEVELOPMENT _ AGENCY APPROVING AN OWNER PARTICIPATION AGREEMENT REGARDING THE CONSTRUCTION AND OPERATION OF A PUBLICLY OWNED PARKING LOT AND APPROVING PAYMENT BY AGENCY FOR ALL OR PART OF THE COST OF CONSTRUCTION OF THAT PARKING FACILITY WHEREAS, pursuant to provisions of the Community Redevelopment Law (California Health and Safety Code Section 33000, �t sgq.), and in particular Section 33445 thereof, the Agency proposes to pay for all or part of the cost of construction of a publicly owned parking lot ("the Project") located in the vicinity of El Paseo and Highway 74 ("the Project Site") in the City of Palm Desert ("the City"). WHEREAS, the Project Site is located in the Agency's Project Area 1. Project Area 1 is characterized by problems of circulation, drainage, parking shortage, and access, creating economic blight. In addition, Project Area 1 is characterized by properties which suffer from economic dislocation, deterioration or disuse because of the existence of inadequate public improvements and public facilities which cannot be remedied by private or governmental action without redevelopment, which causes a reduction of, or lack of, proper utilization of Project Area 1 to such an extent that it constitutes a serious physical, social or economic burden on the City that cannot reasonably be _ expected to be reversed or alleviated by private enterprise acting alone. WHEREAS, the construction of the Project is a necessary component of the overall redevelopment of Project Area 1, and is integral to the goals of eliminating existing blight and preventing additional blight within the core commercial area of the City. Redevelopment of the core commercial area consistent with the Redevelopment Plan requires the development of additional public parking in key locations that will promote the improved circulation, improved access, and other goals of the Redevelopment Plan. The location of the Project Site makes it an ideal location for meeting the goals of increased public parking and better traffic circulation, and thereby also enhancing the potential for future development in the immediate area that will prevent the reoccurrence of the problems leading to blight. WHEREAS, the Project will serve a basic purpose of redevelopment and is consistent with the Agency's Implementation Plan adopted pursuant to California Health and Safety Code Section 33490. Redevelopment includes the provision of structures as may be appropriate or necessary in the interest of the general welfare, including parking facilities. The development of additional public parking in this key location will promote improved circulation and access in the core commercial area and will assist in the elimination of conditions of blight within Project Area 1 which are caused by inadequate parking and circulation facilities. WHEREAS, the budget constraints of the City prevent the City from financing the -- Project by any means. Traditional methods of financing such as the issuance of general obligation bonds are unavailable as a practical matter because of the extraordinary majority voter approval RESOLUTION N0.346 requirements of two-thirds of the electorate. Assessment iinancing or special tax iinancing could overburden benefitting properties with assessments or special taxes which would be added to existing � taxes and assessments, and, in addition, special taxes require a two-thirds vote and assessment financing may not be expressly authorized. WHEREAS, the Project Site includes portions of four parcels in private ownership. Three of the parcels ("the Parcels") are owned by three private parties. Such three parties, and the lessee of one of such parties, are herein designated as "the Participants." The fourth Parcel ("Parcel A") is to be acquired by the Agency. WHEREAS, the Agency and the Participants desire to enter into an Owner Participation Agreement ("the Agreement") governing the construction and operation of the Project. The Agreement provides as follows: 1. The Participants shall convey an easement over the Parcels to the Agency and shall grant to the Agency the right to construct the Parking Lot and use the Parking Lot for parking for the General Public in perpetuity ("the Parking Easement"); 2. The Agency shall endeavor to acquire an interest in Parcel A; and 3. The Agency shall construct the Parking Lot on the Parking Lot Site. NOW, THEREFORE, THE PALM DESERT REDEVELOPMENT AGENCY DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows: Section l. eci 1. The above recitals and each of them are true and correct. Section 2. Finding.�. Based upon the foregoing and other information presented to the Agency: (i) the Project will be of benefit to Project Area 1 and to the immediate neighborhood in which the Project is located, (ii) the payment of funds for the cost of such improvements will assist in the elimination of one or more blighting conditions inside Project Area 1 by providing increased parking facilities, thereby encouraging private-sector investment; and (iii) no other reasonable means of financing such improvements are available to the City. Section 3. Approval of Ex�enditure of A.gen�Y Funds. The Agency hereby approves payment by the Agency for all or a part of the cost of the Project from any revenues of the Agency lawfully available therefor. Section 4. Authorization to Enter into the Owner Participation Agreement. The Agency hereby approves the Agreement and authorizes the Chairman or Executive Director to execute the Agreement on behalf of the Agency, subject to reasonable changes recommended by the Executive Director. -2- 970924 ja.- i6C0�71 RESOLUTION N0.346 Section 5. Authorization to Acce.pt Conveyance of Easement. The Agency hereby � authorizes the Chairman to execute a certificate of acceptance accepting the Parking Easement on satisfaction of the conditions to acceptance set forth in the Agreement. Section 6 Other Acts. The ofiicers of the Agency are hereby authorized and directed to do any and all things and to execute and deliver any and all documents which they may deem necessary or advisable in order to effectuate the purposes of this Resolution. Section 7 Effective Date. This Resolution shall take effect immediately upon adoption. PASSED, APPROVED and ADOPTED this 25th day of September, 1997. AYES: BENSON, CRITES, SNYDER, SPIEGEL NOES: KELLY ABSENT: NONE ABSTAIN: NONE Richard S. Kelly, Chairman -3- 970929 jar 15C0071