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HomeMy WebLinkAboutC22300 Costs Imrpvmnts to Cook 601-05MEETING DATE 3 - 61-C'' 7 L�J CONTINUED TO L/ - / 3 - C7 ❑ PASSED TO 2ND READING CITY OF PALM DESERT/PALM DESERT REDEVELOPMENT AGENCY REQUEST: SUBMITTED BY: DATE: CONTENTS: STAFF REPORT APPROVAL OF CITY COUNCIL RESOLUTION NO. 07-6o , APPROVING PAYMENT BY THE PALM DESERT REDEVELOPMENT AGENCY FOR THE COSTS OF IMPROVEMENTS TO COOK STREET APPROVAL OF REDEVELOPMENT AGENCY RESOLUTION NO. 542 , APPROVING PAYMENT BY THE AGENCY FOR THE COSTS OF IMPROVEMENTS TO COOK STREET DAVE YRIGOYEN, DIRECTOR OF REDEVELOPMENT/HOUSING AUGUST 9, 2007 CITY COUNCIL RESOLUTION NO. 07-60 REDEVELOPMENT AGENCY RESOLUTION NO. 542 Recommendation: By Minute Motion: 1. That the City Council approves Resolution No. 07- 60 , approving payment by the Palm Desert Redevelopment Agency for the costs of the improvements to Cook Street; 2. That the Redevelopment Agency approves Resolution No. 542 , approving payment by the Agency for the costs of improvements to Cook Street. Executive Summary: Approval of the resolutions permits the Agency to reimburse funds expended on the Cook Street Improvements with tax allocation bond funds. Discussion: This project will widen Cook Street from Fred Waring Drive to Frank Sinatra Drive, and will provide a six lane arterial roadway for this section. The project will include traffic signal modifications, utility relocations and drainage improvements. The road construction will alleviate the traffic congestion that currently exists on Cook Street. G \rda\Veronica Tapia\Word Files\Staff Reports\Cook Street Imps Reumb.doc Staff Report Approval of City Council and Redevelopment Agency Resolutions Approving Payment for improvements at Cook Street August 9, 2007 Page 2 CVAG is participating in the funding of this project. Currently, CVAG's share of this project shall be the lesser of $4,750,000 or 50% of the eligible costs. As a result, other sources of funding are necessary to complete this project. The Redevelopment Agency has available Tax Allocation Bond funds to partially fund the project, in an amount not -to -exceed $3,000,000. The remaining balance of this project will be funded by Measure A funds. Staff has attached the resolutions, which make the findings necessary to reimburse such expenses for the Cook Street Widening Improvements. Staff is recommending that the City Council and the Redevelopment Agency approve their respective resolutions. Submitted By: David Yrigoy fii Director ofRedevelopment/Housing DY:VT:mh Approval: McCarthy ACM Redevelo Carlos L. Ortega City Manager/Executive Director G:\rda\Veron,ca Tapia\Word Files\Staff Reports\Cook Street Imps Reimb doc Paul S. Gibson Director of Finance/Treasurer RESOLUTION NO. 07-6o A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT APPROVING PAYMENT BY THE PALM DESERT REDEVELOPMENT AGENCY FOR THE COSTS OF IMPROVEMENTS TO COOK STREET RECITALS A. The Palm Desert Redevelopment Agency (the "Agency") is a redevelopment agency, authorized to transact business and exercise its powers, all under and pursuant to the Community Redevelopment Law of the State of California, being Part 1 of Division 24 (commencing with Section 33000) of the California Health and Safety Code (the "Law"). B. The City Council has previously determined that Project Area No. 3 (the "Project Area") is an area in which the combination of conditions of blight is so prevalent and so substantial that it causes a reduction of, or lack of, proper utilization of the area to such an extent that it constitutes a serious physical and economic burden on the community which cannot reasonably be expected to be reversed or alleviated by private enterprise or governmental action, or both, without redevelopment. C. Pursuant to provisions of the Community Redevelopment Law and in particular Section 33445 thereof, the Agency proposes to pay for street widening improvements to Cook Street and the costs associated therewith (the "Improvements") of benefit to the Project Area. D. The Improvements will serve a basic purpose of redevelopment, which is to expand employment opportunities and to provide an environment for the social, economic, and psychological growth and well-being of all citizens. The Improvements will serve the residents and taxpayers of the City of Palm Desert. The Improvements will improve traffic circulation in and around the Project Area, all for the benefit of the health, safety, and welfare of such residents and taxpayers. The Improvements will address the lack of adequate public improvements, assist in impaired investments, encourage private sector investment, create job opportunities, promote the economic viability of business in the Project Area, attract new businesses, assist in retaining existing businesses, and encourage business expansion for the health, safety, and welfare of the residents and taxpayers of the Project Area. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM DESERT HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS: Section 1. The foregoing recitals, and each of them, are true and correct. - 1 - P6402-0001 \983110v2.doc Section 2. The City makes the following findings in connection with the Improvements: i. The Improvements are of benefit to the Project Area and to the immediate neighborhood in which the Improvements are located. ii. The payment of funds for the costs of the Improvements will assist in the elimination of one or more blighting conditions inside the Project Area. iii. The payment of funds for the costs of the Improvements is consistent with the Agency's implementation plan adopted pursuant to California Health and Safety Code Section 33490. iv. No other reasonable means of financing the Improvements is available to the City. Section 3. The City Council hereby approves payment by the Agency for the costs of the Improvements from any revenues of the Agency lawfully available therefor, including tax increment revenues of the Agency from the Project Area. PASSED, APPROVED and ADOPTED this 9th day of August 2007 by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: Attest: Rachelle D. Klassen, City Clerk Richard S. Kelly, Mayor 2 P6402-0001\983110v2.doc RESOLUTION NO. 542 A RESOLUTION OF THE PALM DESERT REDEVELOPMENT AGENCY APPROVING PAYMENT BY THE AGENCY FOR THE COSTS OF IMPROVEMENTS TO COOK STREET RECITALS A. The Palm Desert Redevelopment Agency (the "Agency") is a redevelopment agency, authorized to transact business and exercise its powers, all under and pursuant to the Community Redevelopment Law of the State of California, being Part 1 of Division 24 (commencing with Section 33000) of the California Health and Safety Code (the "Law"). B. The City Council has previously determined that Project Area No. 3 (the "Project Area") is an area in which the combination of conditions of blight is so prevalent and so substantial that it causes a reduction of, or lack of, proper utilization of the area to such an extent that it constitutes a serious physical and economic burden on the community which cannot reasonably be expected to be reversed or alleviated by private enterprise or governmental action, or both, without redevelopment. C. Pursuant to provisions of the Community Redevelopment Law and in particular Section 33445 thereof, the Agency proposes to pay for street widening improvements to Cook Street and the costs associated therewith (the "Improvements") of benefit to the Project Area. D. The Improvements will serve a basic purpose of redevelopment, which is to expand employment opportunities and to provide an environment for the social, economic, and psychological growth and well-being of all citizens. The Improvements will serve the residents and taxpayers of the City of Palm Desert. The Improvements will improve traffic circulation in and around the Project Area, all for the benefit of the health, safety, and welfare of such residents and taxpayers. The Improvements will address the lack of adequate public improvements, assist in impaired investments, encourage private sector investment, create job opportunities, promote the economic viability of business in the Project Area, attract new businesses, assist in retaining existing businesses, and encourage business expansion for the health, safety, and welfare of the residents and taxpayers of the Project Area. NOW, THEREFORE, THE PALM DESERT REDEVELOPMENT AGENCY HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS: Section 1. The foregoing recitals, and each of them, are true and correct. -1- P6402-0001 \982826v2.doc Section 2. The Agency makes the following findings in connection with the Improvements: i. The Improvements are of benefit to the Project Area and to the immediate neighborhood in which the Improvements are located. ii. The payment of funds for the costs of the Improvements will assist in the elimination of one or more blighting conditions inside the Project Area. iii. The payment of funds for the costs of the Improvements is consistent with the Agency's implementation plan adopted pursuant to California Health and Safety Code Section 33490. iv. No other reasonable means of financing the Improvements is available to the City. Section 3. The Agency hereby approves, subject to approval by the City Council, payment by the Agency for the cost of the Improvements from any revenues of the Agency lawfully available therefor, including tax increment revenues of the Agency from the Project Area. PASSED, APPROVED and ADOPTED this 9th day of August 2007 by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: Attest: Rachelle D. Klassen, Secretary Richard S. Kelly, Chairman 2 P6402-000I\982R26v2.doc