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HomeMy WebLinkAboutLong-Range Property Mgmt PlanSUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY STAFF REPORT REQUEST: APPROVAL OF THE LONG RANGE PROPERTY MANAGEMENT PLAN FOR THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY SUBMITTED BY: Martin Alvarez, Director of Economic Development DATE: June 13, 2013 CONTENTS: Long Range Property Management Plan Long Range Property Management Plan Map Finding of Completion Approval Letter Recommendation By Minute Motion: That the Successor Agency to the Palm Desert Redevelopment Agency Board approve the Long Range Management Plan and submit to the Oversight Board of the Successor Agency to the Palm Desert Redevelopment Agency. Backctround On June 29, 2011, the California Governor signed Assembly Bill X1-26, which required the dissolution of all California redevelopment agencies and authorized the creation of successor agencies to manage former redevelopment agency owned assets. At its meeting of August 25, 2011, the City of Palm Desert chose to become the Successor Agency to the Palm Desert Redevelopment Agency, accepting the responsibility to manage 553.25 acres of property assets. On June 27, 2012, the Governor signed State Budget Trailer Bill AB 1484, which became effective immediately. AB 1484 required successor agencies to conduct a due diligence review to determine the unobligated cash balances available for transfer to taxing entities in both the housing fund and all other RDA funds of the former Redevelopment Agency. Both the Housing Successor Entity (PDHA) and the Successor Agency to the Palm Desert Redevelopment Agency's (Successor Agency) due diligence reviews have been completed and accepted by the State Department of Finance (DOF). As part of AB 1484, those agencies who have received approval of their due diligence reviews are granted a"Finding of Completion". The Finding of Completion (FOC) allows successor agencies to submit a Long Range Property Successor Agency Staff Report Long Range Property Management Plan June 13, 2013 Page 2 of 4 Management Plan (Management Plan), outlining the disposition strategies for all former RDA properties. On May 15, 2013, the DOF issued a Finding of Completion to the Successor Agency (see DOF attached letter). The FOC verifies that the Successor Agency has met the DOF requirements under AB 1484, including sending all housing and non-housing unobligated funds to the County for distribution to the taxing entities. Discussion Pursuant to Health and Safety Code 34191.4, within six months after receiving a Finding of Completion from the DOF, the Successor Agency is required to submit for approval to the Oversight Board and the DOF a Long Range Property Management Plan (Management Plan) that addresses the disposition and use of the real properties owned by the Successor Agency. Section 34191.5(c)(1) of the California Health and Safety Code identifies the elements that should be included in the Long Range Property Management Plan regarding each property. These elements include description of each property: Address, Assessor Parcel Number, Acreage Size, Date and Cost of Acquisition, Estimated Current Cost, Purpose of Acquisition, Existing Contracts, Environmental Concerns/Studies Performed, Development Proposals/Activities, General Plan and Zoning Designations and Proposed Disposition Strategy. The complete Management Plan is attached to this report, along with a full written background and description of each set of parcel(s) for your consideration. The main purpose of the Management Plan is to identify the proposed disposition strategy for each parcel. AB 1484 provides several options for disposition of property, including the following: 1. Sell the Property 2. Retain for Government Use (i.e. roads, school buildings, parks, police and fire stations, libraries, and local agency administrative buildings) 3. Retain for Future Development (identified as part of former RDA Plan) 4. Retain to Fulfill an Enforceable Obligation (i.e. existing contract approved prior to RDA dissolution) The Management Plan is organized into 14 separate project sites depending on geographical location and/or if parcels were acquired together. Project sites may contain multiple parcels (i.e. Site 1(a), 1(b), 1(c), etc.). The Management plan utilizes the first three disposition categories listed above. Both the Management Plan and the plan . map (see attached) use the following color codes to identify the proposed disposition strategy for each site. G.\rdaVvlaAin Alvarez�2013\SAILRPMP 6-13-13.doc Successor Agency Staff Report Long Range Property Management Plan June 13, 2013 Page 3 of 3 Parcels coded in Green = Sell the Property Parcels coded in Purple = Retain for Governmental Use Parcels coded in Yellow = Retain for Future Development Also included on the Management Plan is a list of enforceable easements, obligations and agreements that are currently assigned to the Successor Agency. The agreements include public parking easements that were established by the former RDA to facilitate and maintain public parking on economic development projects. Examples of projects that have public parking easements include the Westfield Shopping Center parking structures, the Gardens on EI Paseo parking structure and the Desert Crossings shopping center. Staff recommends that these easements and agreements be transferred and assigned to the City to maintain future enforcement capabilities in the event the Successor Agency no longer is viable. The easements do not have a monetary value nor do they burden the City with any financial obligations. If the Management Plan is approved by the Successor Agency, it will be presented to the Oversight Board on June 24, 2013. Following approval by the Oversight Board, the Management Plan will be submitted to the DOF. There is no time frame specified by AB 1484 for the DOF's review and approval of the Management Plan, as it may depend on their work load. Staff recommends that the Successor Agency approve the Long Range Property Management Plan and authorize staff to submit to the Oversight Board and DOF. Fiscal Analvsis There is no fiscal impact from the approval of the Long Range Property Management Plan to the City General Fund. However, approval of the Management Plan by the DOF will lead to the sale of properties. The proceeds from the sale of properties will be sent to the County for distribution to all taxing entities, including the City of Palm Desert. As a taxing entity, the City's share is approximately 3% from each of the property sales. Submitted B : Martin Alvarez, Dir or of Economic Development f i ,' L , � - Paul S. Gibson, Director of Finance n M. Wohlmuth, Executive Director �. ., C J net oore, Director of Housing f l�Z�� ,..� �:, :�y �t�,-��.n.� �. �.����.�...,��'r_.`�' 4��1 �._. .�. ���:.� , . _ �.� , __ . ��ll�y�nxrn"� 'ii?w 3x "o"�% z t.',� n� � i!:�"�"�C :i 'hJ��:C.j.'. G:\rda\Martin Alvarez�2013\SA\LRPMP 6-13-13.doc � � � � LONG-RANGE PROPERTY MANAGEMENT PLAN CHECKLIST Instructions: Please use this checklist as a guide to ensure you have completed all the required components of your Long-Range Property Management Plan. Upon completion of your Long-Range Property Management Plan, email a PDF version of this document and your plan to: Redevelopment_Administration@dof.ca.gov The subject line should state "[Agency Name] Long-Range Property Management Plan". The Department of Finance (Finance) will contact the requesting agency for any additional information that may be necessary during our review of your Long-Range Property Management Plan. Questions related to the Long-Range Property Management Ptan process should be directed to (916) 445-1546 or by email to Redevelopment AdministrationC�a.dof.ca.gov. Pursuant to Hea(th and Safety Code 34191.5, within six months after receiving a Finding of Completion from Finance, the Successor Agency is required to submit for approval to the Oversight Board and Finance a Long- Range Property Management Plan that addresses the disposition and use of the real properties of the former redevelopment agency. GENERAL INFORMATION: Agency Name: Successor Agency To The Palm Desert Redevelopment Agency Date Finding of Completion Received: May 15, 2013 Date Oversight Board Approved LRPMP: June 24, 2013 Long-Range Property Management Plan Requirements For each property the plan includes the date of acquisition, value of property at time of acquisition, and an estimate of the current value. � Yes ❑ No For each property the plan includes the purpose for which the property was acquired. � Yes ❑ No For each property the plan includes the parcel data, including address, lot size, and current zoning in the former agency redevelopment ptan or specific, community, or general plan. � Yes ❑ No For each property the plan includes an estimate of the current value of the parcel including, if available, any appraisal information. � Yes ❑ No Page 1 of 3 For each property the plan includes an estimate of any lease, rental, or any other revenues generated by the property, and a description of the contractual requirements for the disposition of those funds. � Yes ❑ No For each property the plan includes the history of environmental contamination, including designation as a brownfield site, any related environmental studies, and history of any remediation efforts. � Yes ❑ No For each property the plan includes a description of the property's potential for transit-oriented development and the advancement of the planning objectives of the successor agency. � Yes ❑ No For each property the plan includes a brief history of previous development proposals and activity, including the rental or lease of the property. � Yes ❑ No For each property the plan identifies the use or disposition of the property, which could include 1) the retention of the property for governmental use, 2) the retention of the property for future development, 3) the sale af the property, or 4) the use of the property to fulfill an enforceable obligation. � Yes ❑ No The plan separately identifies and list properties dedicated to governmental use purposes and properties retained for purposes of fulfilling an enforceable obligation. � Yes ❑ No ADDITIONAL INFORMATION • If applicable, piease provide any additional pertinent information that we should be aware of during our review of your Long-Range Property Management Plan. SEE ATTACHED PROPERTY SUMMARIES/BACKGROUND. Page 2 of 3 Agency Contact Information Name: Title: Phone: Email: Martin Alvarez Director of Economic Devel 760-346-0611 x467 Phone: malvarez@cityofpalmdesert.org Email: Name: Title John M Wohlmuth City Manager 760-0611 x305 jwohimuth@cityofpalmdesert.org Date: June 24, 2013 �ate: June 23, 2013 Deaa►tment of Finance I.ocal Government Unit Use Onlv DETERMfNATfON ON LRPMP: ❑ APPROVED ❑ DENIED APPROVED/DENIED BY: DATE: APROVAL OR DENIAL LETTER PROVIDED: ❑ YES DATE AGENCY NOTIFIED: Form DF-LRPMP (11/15/12) Page 3 of 3 Successor Agency to the Palm Desert Redevelopment Agency Long Range Property Management Plan Property Background/Summaries INTRODUCTION On June 29, 2011, the California Governor signed Assembly Bill X1-26, which required the dissolution of all California redevelopment agencies and authorized the creation of successor agencies to manage former redevelopment agency owned assets. At its meeting of August 25, 2011, the City of Palm Desert chose to become the Successor Agency to the Palm Desert Redevelopment Agency (Successor Agency). On June 27, 2012, the Governor signed State Budget Trailer Bill AB 1484, which became effective immediately. AB 1484 required successor agencies to conduct a due diligence review to determine the unobligated balances available for transfer to taxing entities in both the housing fund and all other former redevelopment agency (RDA) funds. Both the Housing Successor Agency and the Successor Agency's due diligence reviews have completed and accepted by the State Department of Finance (DOF). As part of AB 1484, those agencies who have received approval of their due diligence reviews are granted a"Finding of Completion". The Finding of Completion (FOC) allows successor agencies to submit a Long Range Property Management Plan (Management Plan), outlining the disposition strategies for all former RDA properties. The Successor Agency's property assets total 553.25 acres. On May 15, 2013, the DOF issued a Finding of Completion to the Successor Agency to the Palm Desert Redevelopment Agency (see attached letter). The FOC verifies that the Successor Agency has met the DOF requirements under AB 1484, including sending all housing and non-housing funds to the State for dispersal to the taxing entities. Pursuant to Health and Safety Code 34191.4 the Successor Agency has prepared a Long Range Property Management Plan (Management Plan) that addresses the disposition and use of the real properties owned by the former redevelopment agency. This plan was presented to the Successor Agency Board on June 13, 2013 and is scheduled for review by the Oversight Board of the Successor Agency to the Palm Desert Redevelopment Agency on June 24, 2013. The Successor Agency's Long Range Property Management Plan and Map is attached to this document. The following sections provide background and summaries of each of the Successor Agency owned properties. The Management Plan is organized into 14 LRPMP Property Background/Summaries June 13, 2013 Page 2 of 8 separate project sites depending on geographical location and/or if parcels were acquired together. Project sites may contain multiple parcels (i.e. Site 1(a), 1(b), 1(c), etc.). Both the Management Plan and the map (see attached) use the following color codes to identify the proposed disposition strategy for each site. Parcels coded in Green = Sell the Property Parcels coded in Purple = Retain for Governmental Use Parcels coded in Yellow = Retain for Future Development PROPERTY BACKGROUND / SUMMARIES The Management Plan provides a complete listing of all Successor Agency owned properties with details as requested by State Department of Finance Long Range Property Management Plan Checklist (see attached Checklist). Below is summary and additional background information for each property along with the Oversight Board's disposition strategy recommendation. Alessandro Alley - Properties 1(a), 1(b), 1(c), 1(d), 1(e), 1(fl, 1(g): Properties listed as 1(a), 1(b), 1(c), 1(d), 1(e), 1(fl, 1(g) on the attached Management Plan consist of eight parcels that were acquired by the former redevelopment agency (RDA). The former RDA originally proposed to acquire 26.5 feet from each of the rear yards of these parcels to facilitate improvements to the adjacent deteriorated Alessandro Alley. The Alessandro Alley is located between the residential district and the commercial core area on the north side of Highway 111 from Las Palmas Avenue to Monterey Avenue. The proposed design of the Alessandro Alley improvement project was in progress prior to the dissolution of redevelopment agencies. The preliminary design proposed to widen the alley by 26.5 feet to a total width of 46.5 feet; providing new public parking at a 90° angle on the north side of the alley. The conceptual Alessandro Alley design included 169 public parking spaces along the north side with landscaping and a new barrier wall protecting the adjoining residential properties. The properties that are listed in LRPMP are those remaining parcels that were acquired by the former RDA. The details of the individual properties are listed in the Management Plan and Successor Agency proposes to sell the subject parcels, 1(a) though 1(g) on the open market. LRPMP Property Background/Summaries June 13, 2013 Page 3 of 8 Joslyn Senior Center Expansion— Properties 2(a), 2(b): The Joslyn Senior Center parcels consist of two parcels totaling 1.68 acres. The parcels are located adjacent to the City owned Joslyn Cove Communities Senior Center, which serves the region and specifically the communities of Palm Desert, Rancho Mirage and Indian Wells. The Senior Centers provides serves to over 38,000 senior over the age of 50 on annual basis. The subject parcels were acquired to facilitate a future expansion to the Senior Center. The Successor Agency proposes to retain these parcels for governmental use, and transfer the two parcels to the City of Palm Desert to facilitate the future development/expansion of the Joslyn Senior Center. Haystack Open Space — Property 3 The Haystack property total 1.90 acres. The property was acquired to facilitate the installation of a drainage facility and retention of open space. The parcel contains an underground drainage pipe that serves residential neighborhoods in this area. The having the drainage pipe underground makes the parcel undevelopable and its' only use is for open space. The Successor Agency proposes to retain the site for governmental use and transfer the property to the City for use as public open space. Adobe Villas / Public Parkinq — Property No. 4 The Adobe Villas property consists of a 12-unit, vacant apartment complex on 0.53 acres. The site is adjacent to the City's commercial core business district. The former RDA acquired the site with the intent to facilitate the construction of public parking to serve the adjacent commercial district. Public parking in this area was identified in the former RDA Plan and 5-year Implementation Plan. The Successor Agency recommends the transfer of the site to the City for governmental use. The property will be used to facilitate the construction of public parking within the Core Commercial Area, a goal a of the Project Area No. 1 Redevelopment Plan. College of the Desert Site (San Pablo/Fred Warin� Properties No.(s) 5(a), 5(b), 5(c), 5(d), 5(e) The subject properties consist of five contiguous parcels totaling 1.62 acres of vacant land. The properties are adjacent to the City's Community College known as College of the Desert (COD). COD submitted a written request to the Successor Agency requesting to acquire for the site future educational use. COD proposes to utilize the site for future multi-purpose educational facilities that would enhance the existing Palm LRPMP Property Background/Summaries June 13, 2013 Page 4 of 8 Desert Campus and serve the region. The proximity of the properties to the COD campus compliments COD's existing facilities and provides for improved community and business access (see COD letter attached). On February 4, 2013, the Oversight Board of the Successor Agency to the Palm Desert Redevelopment Agency approved OB Resolution No.033 approving a transfer of 0.177 acres (7,705 sq ft.) from portions of: • Property No. 5(d) (.55 acres) A.P.N.'s 627-101-038; and • Property 5(e) (.26 acres) A. P. N. 627-101-039 to the City of Palm Desert to facilitate a road widening project. The City's road improvement project would add necessary right turn pocket at the southeast corner of San Pablo Avenue and Fred Waring Drive. The request was denied by written correspondence dated April 24, 2013 (see letter attached). The proposed land transfer of 7,705 square feet (.177 acres) out of 35,283.6 square feet to the City will serve a governmental use (i.e. road improvements). The proposed project will alleviate traffic congestion and will improve air quality by reducing the number vehicles idling at this intersection and will improve community safety. The Successor Agency recommends that 1.443 acres be transferred to College of the Desert for governmental use and that 0.177 acres from A.P.N.(s) 627-101-038 and 627- 101-039 be transferred to the City of Palm Desert to facilitate roadway improvements benefiting the public. Portola Ave. Roadway WidenincLProiect - Properties No.(s) 6(a), 6(b), 6(c) The subject properties consist of three vacant individual single-family homes fronting Portola Avenue, an arterial roadway. The properties were acquired with the intent to deconstruct the homes and facilitate a roadway widening project on Portola Avenue. The project will add a free-right turn pocket at the northwest corner of Portola Avenue and Fred Waring Drive. The project will alleviate traffic congestion and achieve the street's ultimate width per the City's General Plan. The Successor Agency recommends retaining the properties for governmental use and transferring the properties to the City of Palm Desert to facilitate roadway improvements. LRPMP Property Background/Summaries June 13, 2013 Page5of8 Larks�ur Site — Property No.(s) 7(a), 7(b) The Larkspur site totals 2.10 acres and is located adjacent to the City's commercial district. The site has been approved by the City Council as a 154 room hotel project through an existing Development Agreement with a hotel developer. The Successor Agency recommends retaining the property for future development which will facilitate economic development within Project Area No. 1. Entrada Del Paseo Lot Pad — Property No. 8 The Entrada Del Paseo lot pad consists of a.68 acre parcel located within an existing 12-acre master planned commercial development. The Entrada Del Paseo master plan contains two existing restaurants, and a Museum and the Chamber of Commerce/Henderson Community Building and one vacant office professional pad. The last remaining development pad within the Entrada Del Paseo development is owned by the Successor Agency and is referred to as Property 8 on the Management Plan. The site is suitable for an office professional building or restaurant site. The Successor Agency recommends the sale of the property on the open market. 170 Acres - Frank Sinatra Dr. / Portola Ave.— Properties 9(a) thru 9(m) (13 Parcels) The subject properties consist of 13 contiguous parcels totaling 169.55 acres located at the northeast corner of Frank Sinatra Drive and Portola Avenue. The 13 parcels were acquired as one transaction in order to facilitate future economic development. The Successor Agency recommends selling the properties on the open market. The estimated value of the site is ($16,955,000 /$100,000 per acre). Cal State San Bernardino Universitv - Palm Desert Campus — Property No.(s) 10(a), 10(b) In 1993, the former RDA acquired approximately 201.64 acres for the development of university master. The site was acquired with the intent to partner with California State University San Bernardino for the development of a university campus. On November 16, 1999, the former RDA entered into a Disposition and Development Agreement (DDA) with the Trustees of the California State University (CSU) to facilitate the future development of the California State University San Bernardino — Palm Desert Campus. On March 22, 2001, Amendment No. 1 to the DDA was approved authorizing the transfer of approximately of 55.32 of the 201.64 acres to CSU to facilitate the construction of infrastructure and facilities for the establishment of the CSU—Palm LRPMP Property Background/Summaries June 13, 2013 Page 6 of 8 Desert Campus. The First Amendment to the DDA also reserved approximately 125 acres for ten years for the future implementation of the remaining Palm Desert Campus Master Plan. CSU has built 5 education buildings and has a student enrollment of 1,000 students. CSU continues its efforts to expand the CSU-Palm Desert Campus and has requested approval of the transfer of approximately 123.65 acres to facilitate the future development of the CSU-Palm Desert Campus master plan. In 2002, under approval of a Disposition and Development Agreement (DDA) 8.5 acres of the original 201.64 acres were transferred to the Regent of the University of California for the deveiopment of the University of California Riverside — Palm Desert Campus (UCR). The existing Palm Desert Campus improvements were completed on the 8.5 acres. As part of the DDA and subsequent Amendment an additional 11.5 acres were reserved under an Option Agreement (25 years). Recently, UCR received approval from the Oversight Board (Resolution No. 033) and from the Department of Finance (see attached approval letter) to transfer the 11.5 acre property for use as a future UCR School of Medicine. After the recent transfer to UCR, the Successor Agency controls the remaining 126.32 acres. Prior to the dissolution of the RDA, staff was working with CSU to negotiate the transfer the remaining land for the implementation of the CSU — Palm Desert Campus master plan. As part of the negotiations, the Successor Agency had discussed the use/retention of 2.67 acres of remaining 126.32 for a future City of Palm Desert fire station site. The fire station site location has been identified and the conceptual design has been completed. As part of the Management Plan, the Successor Agency recommends the transfer of the 123.65 acres to CSU for governmental purpose (educational facilities) and the transfer of 2.67 acres to the City of Palm Desert for a future governmental use (fire station). 132 Acre Site — Properties 11(a) thru 11(h) (8 Parcels) The 132 Acre Site consists of 8 contiguous parcels totaling 132.31 acres. The properties were acquired individually with the intent to assemble a larger project that would facilitate future economic development. To address current and future drainage facility needs, the Oversight Board and the Successor Agency recommends transferring 3.0 acres from parcel 11(h) (A.P.N. 694-310-005), which totals 27.73 acres. The Successor Agency staff has developed a legal description and map of the proposed drainage location. This drainage area will serve the drainage needs for the existing Riverside County Sheriff Station located adjacent to the west of the subject property and future development in this area. The Successor Agency recommends selling 129.31 of LRPMP Property Background/Summaries June 13, 2013 Page 7 of 8 the 132.31 acres on the open market and retaining 3.0 acres for governmental use (drainage facility) and transferring the 3.0 acres to the City of Palm Desert. The estimated value of the site 129.31 acres is $12,931,000 or $100,000 per acre. Desert Willow Lot Pads- Properties 12(a), 12(b), 12(c), 12(d), 12(e), 12(fl, 12(g) The Desert Willow Lot Pads consist of 25 parcels, categorized under Properties 12(a) thru 12(fl in the Management Plan. Desert Willow Golf Resort was developed by the former RDA as an economic development tool and for public recreational opportunities. As part of the master plan development several development pads were created to attract hotel and timeshare developments. These lot pads are labeled Pad A, B, C, D, E, F& G(see attached map). The Successor Agency recommends that properties 12(a), 12(c), 12(d), be retained for future development and that a portion of Property 12(b) (3.028 of 17.68 acres) and a portion of Property 12(fl (4.238 of 19.85 acres) be retained for governmental use (see details below). Property 12(b) totals 17.68 aces. 3.028 acres is developed as a public parking lot that serves the community and the City owned Desert Willow Golf Resort (see attached legal description). The Successor Agency recommends selling 14.652 of the 17.68 acres and the transfer 3.028 acres to the City of Palm Desert as a governmental use parcel. Property 12(fl totals 19.85 acres. 4.238 acres are currently developed and used as a retention basin (see attached legal description). The Successor Agency and Oversight Board recommend selling 15.522 of the 19.85 acres and the transfer of 4.238 acres to the City of Palm Desert for governmental use (drainage facility). The Successor Agency recommends selling Property 12(g). The Successor Agency also has three miscellaneous parcels that were inadvertently never transferred to the City of Palm Desert, which are currently used as part of the City owned Desert Willow Firecliff Golf Course (see attached map). These three parcels are identified portions of Property 12(b) (A.P.N. 620-450-011 & 620-450-015) and portion of Property 12(d) (A.P.N. 620-450-021). The Successor Agency recommends that these miscellaneous parcels be transferred to the City of Palm Desert for governmental use. Casev's Restaurant Site — Property No. 13 The subject property was acquired in 2005 to facilitate the redevelopment of blighted property. The site currently totals 2.924 acres, which includes a 4,943 square foot LRPMP Property Background/Summaries June 13, 2013 Page 8 of 8 restaurant building, 500 square foot office building, parking facilities and a vacant lot. The Successor Agency has a lease with Casey's Restaurant through 2016. The Successor Agency and the Oversight Board recommend selling 1.64 acres, which includes the restaurant site and portion of the vacant lot and transferring 1.284 acres to the City for the development of future senior affordable housing. The affordable housing site has been designed and included the development of 72-senior affordable apartment units, combined with land currently held by the Housing Successor Agency. The Casey's restaurant site and improvements is estimated to be valued at $1,200,000. Hillside Open Space — Property No. 14 The subject property totals 3.80 acres and is located in the hillside open space district. The site was acquired to facilitate the preservation of open space and the expansion of hillside recreation hiking trails. The Successor Agency recommend transferring the site to the City of Palm Desert for governmental use (park land). The site is estimated to be valued at $600,000. Easements/Enforceable Obligations — Also included on the Management Plan is a list of enforceable easements, obligations and agreements that are currently assigned to the Successor Agency. The agreements include public parking easements that were established by the former RDA to facilitate and maintain public parking on economic development projects. Examples of projects that have public parking easements include the Wesifield Shopping Center parking structures, the Gardens on EI Paseo parking structure and the Desert Crossings shopping center. Staff recommends that these easements and agreements be transferred and assigned to the City to maintain future enforcement capabilities in the event the Successor Agency no longer is viable. The easements do not have a monetary value nor do they burden the City with any financial obligations. �r►T O.r � � '� �ti a"^'�"'�' i m IIII d 4 � * DEPARTMENT OF °4�,FOR.��P F" I N A N C E May 15, 2013 Ms. Veronica Tapia, Accountant It City of Palm Desert 73-510 Fred Waring Drive Palm Desert, CA 92260 Dear Ms. Tapia: Subject: Finding of Completion EOMUND G. BRowN �IR. • GO�RNOR 91 5 L STRECT ■ SACRAMENTO CA ■ 9581 4-3706 ■ WWW.DO�.CA.GOV The California Department of Finance (Finance) has completed the Finding of Completion for the City of Palm Desert Successor Agency. Finance has completed its review of your documentation, which may have included reviewing supporting documentation submitted to substantiate payment or obtaining confirmation from the county auditor- controller. Pursuant to Health and Safety Code (HSC) section 34179.7, we are pleased to inform you that Finance has verifisd that the Agency has made full payment of the amounts determined under HSC section 34179.6, subdivisions (d) or (e) and HSC section 34183.5. This letter serves as notification that a Finding of Completion has been granted. The Agency may now do the following: • Place foan agreements befween the former redevelopment agency and sponsoring entity on the ROPS, as an enforceable obligation, provided the oversight board makes a flnding that the loan was for legitimate redevelopment purposes per HSC section 34191.4 (b} (1). Loan repayments will be governed by criteria in HSC section 34191.4 (a) (2}. • Utilize proceeds derived from bonds issued prior to January 1, 2011 in a manner consistent with the original bond covenants per HSC section 34191.4 (c). Additionally, the Agency is required to submit a Long-Range Property Management Plan to Finance for review and approval, per HSC section 34191.5 (b}, within six months from the date of this letter. Please direct inquiries to Andrea Scharffer, Staff Finance Budget Analyst, or Chris Hill, Principal Program Budget Analyst, at (916) 445-1546. Sincerely, --� /i'''J i� ~ �STEVE SZALAY Local Government Consultant cc: Ms. Janet Moore, Director of Housing, City of Palm Desert Ms. Pam Elias, Chief Accounting Property Tax Division, County of Riverside Auditor-Controller California State Controller's Office