HomeMy WebLinkAboutResolutions 89-380 N.C.S. 12/04/1989E-
. resolution _,No. 89-380 N.C.S.
of th(~ City Of~ I'('tdIU1111. C~lifc~ri~i<~
RESOLUTION APPROVING REIMBURSEMENT AGREEMENT WITH
G & W/REDWOOD ASSOCIATES
ASSESSMENT DISTRICT NO. 20, REDWOOD BUSINESS PARK NO. 2
The City Council of the City of Petaluma resolves:
As a part of the proceedings for. acquisition of
improvements in Assessment District No. 20, Redwood Business Park
No. 2, City of Petaluma, Sonoma County, California, this City
Council approves that certain reimbursement agreement between the
City of Petaluma and G & W/Redwood Associates dated December 4,
1989, and attached to this resolution.
The Mayor is authorized to sign the agreement and the
City Clerk is authorized to attest its execution.
Under the power and authority conferred upon this Council by the Charter of said City.
[ZEFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the e o
Council of the City of Petaluma at a (Regular) (~„d~at~~~~i~) mee m fo
on the ......4.th............ day of .................Ds~emhez............_........, 19_.8.9., by th
following vote: .._.. -• .. ..... ...... .................
it Atto ney
AYES: Tencer, Woolsey, Cavanagh, Balshaw, Davis, Vice Mayor Sobel, Mayor Hilligoss
~~L7V ~~ Council File.._ ...............................
NOES: 0
ABSENT: 0
ATTEST: ..... J-! } ..... .:.......~.........
Gity'Clerl:, D ~0~1
REIMBURSEMENT AGREEMENT
ASSESSMENT DISTRICT NO. 20
REDWOOD BUSINESS PARK NO. 2
CITY OF PETALUMA, SONOMA COUNTY,• CALIFORNIA
THIS IS AN AGREEMENT between-the CITY OF PETALUMA, a
,municipal corporation of the State of California ("the City") and G
& W/REDWOOD ASSOCIATES., a joint venture, ("the Owner").
RECITALS
The Owner is or has been the owner of the land generally
described as Redwood Business Park in the City of Petaluma and more
particularly described in the Assessment. Diagram for Assessment
District No. 20, Redwood Business Park No. 2', which map is on file
in the, office of the City Clerk oyf the City. The Owner has
constructed certain improvements designed for public use ("the
Improvements"), as more fully described in Exhibit A attached. The
parties .intend that the Improvements shall be transferred to the
City for public use, that the City shal ;.reimburse the Owner for
the"cost of constructing the Improvements, and that these costs
shall be specially assessed on the land within .Redwood Business
Park beneftting from the Improvements. The purpose of this
agreement is to establish the terms of the. transfer of the
Improvements and the reimbursement of construction costs.
NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
. 1:. ~ The above recitals are true. Exhibit A, attached to
this agreement, is a part of the agreement.
2, The Owner agrees to transfer to the City the
Improvements as described in Exhibit A and in plans for the
development of Redwood Business Park heretofore approved by the
Public Works Department of, the City, except any portion of the
Improvements as may ,already have been conveyed to another public
agency or~regulated public utility. Transfer of title to the
Improvements shall be effected by payment to the Owner of the
reimbursement set forth in paragraph 3 and acceptance of the
:Improvements by the City Council of the City by resolution. The
Owner shal-1 execute such further documents as may be required to
transfer title to the land or easements in the land on which the
Improvements have been constructed.
3. The City shall reimburse the Owner for the cost of
constructing the Improvements in the amount of TWO MILLION ONE
HUNDRED FORTY EIGHT THOUSAND THREE HUNDRED EIGHTY TWO DOLLARS
($2,148,382.00). The Owner certifies that this amount has been
expended by the Owner in the construction of the Improvements and
.payment of associated expenses as detailed in Exhibit A. The
parties acknowledge that the amounts set forth in Exhibit A have
been ascertained from the records of the Owner and that the City
,ha's not conducted an independent audit of these amounts.
Nevertheless the parties agree that the, reimbursement amount stated
in this paragraph represents the fair and reasonable value of the
Improvements, irrespective of the various specific costs set forth
in Exhibit A.
4. Payment of the reimbursement. amount stated in paragraph
3 shall be made by the City to the Owner within one business day
after all of the following-events shall have occurred:
a. The levy of special assessments in Assessment
District No. 20, Redwood Business Park No.. 2 :and the sale and
delivery of improvement bonds representing the assessments, in the
total amount of THREE MILLION FIVE HUNDRED THIRTY THOUSAND DOLLARS
($3,5.36,000.00) or such lesser or greater amount as the Owner may
agree ao in writing and the City Council of the City approves by
resolution. ~~
b. The„delivery to the City by the Owner of all deeds
and other documents as-the City Attorney of the City may reasonably
require in order to complete the transfer of title to the
Improvements and the land or interests in land on which the
Improvements. have been constructed.
c. Certification of the City Eng~i~neer of the City that
the Improvements are ready for acceptance by the City Council.
5. The Owner acknowledges that. the conduct of special
assessment proceedings is a discretionary .legislative act of the
City Council of the City and is subject to a public hearing
process., and that this agreement doe's not affect or limit the
discretion grarnted by ,law to the City .Council in matters of special
assessments. If the condition stated in paragraph 4a. shall not
have been met by June 30, 1990, this agreement shall be void.
6: The Owner makes the following warranties:
a. The Owner is the owner in fee of all of the land
shown on the assessment diagram for Assessment District No. 20,
Redwood Business Park No. 2, except Parcel No. 137-011-03
(identified on the diagram as Assessment No. 16), which is owned by
Western Investment Real Estate Trust.
• b.. The Improvements are free of mechanics' and
materialmen's liens and other claims of any kind, and the, Owner has
the legal authority to transfer to the City clear title to the
Improvements.
c., The Owner has no knowledge of any claim or
proceeding challenging the Owner's title to the parcels shown on
the assessment diagram for Assessment-District No. 20, Redwood
2
Business Park No. 2 (except. Assessment No. 16) or. challenging the
Owner's right to transfer title to tYie Improvements.
7. 'The Owner agrees that the Ci y shall have no liability
for payment of any amount under this agreement except from the
improvement fund for Assessment District. No. 20, Redwood Business
Park No. 2. The City shall have no obligation to defend this
agreement or the specal.assessments levied. in Assessment District
No.. 20, Redwood Business Park No. 2 against challenge by any person
in any forum.
8-. The owner hereby waives any right which it may
otherwise have to 'pay assessments in cash without interest during
the period of thirty (30) days after- recordation of the Notice of
Assessment.
9. If either party to this. agreement brings an action
against the other party because of•an alleged breach of the
,agreement or for a judicial interpretation of the agr-Bement, the
pre~aiTing party in he action shall.•have its reasonable attorneys'
fees in addition to al,l other remedies.
DATED: December 4, 1989
A TES
i~
RICIA BERNARD, City Clerk
CIT1('OF P~T~~11:`~A AQPR®VALS
E~fa:: ~PAA ,~,t Ed~IEyT
~~"~~~/
' ciT~
FIFJAB~CE
THE CITY OF PETALUMA,
a municip co-rporaton of
the Sta f Califorryia
Mayor
G & W/REDWOOD ASSOCIATES,
a j'o,int v nt
~ .
By
By ,~`5
3
EXHIBIT A
ASSESSMENT DISTRICT;NO. 20
REDWOOD BUSINESS PARK NO. 2
CITY OF PETALUMA, SONOMA COUNTY, CALIFORNIA
DESCRIPTION OF WORK
1.
2.
-The~acquisiton~of.existing special assessment liens within
the boundaries of the proposed .assessment district.
The acquisition o~f the following described improvements within
the.Redwood Business Park:
a. Widening the east side of Old Redwood Highway 20 feet,
ncluding'construction of A.C. paving,, curb and gutter,
" ~ and a storm drainage system, water and fire services from
~an ex'isting main, telephone and electric undergrounding,
and services, sidewalk, street 1`ights, and A.C. overlay of
portions of the existing pavement from approximately 250
feet south of Willow Brook Creek south across Redwood Way
'to the project boundary; approximately 8'00 feet.
b: .Construction of Redwood Way. This construction includes
sanitary sewer mains and laterals, water mains and
services of domestic water and .fire, storm drain system
with stubs to lots, street lights, idewalk, removal of
existing facilities as .required, power and telephone
services and. maim joint trench, A.C. paving and base rock,
driveways, and signing and striping for approximately 1760
.feet of roadway.
c. Widening the west side. of Old Redwood Highway 20 feet,
including construction of~A.C. paving, curb and gutter,
' and a storm drainage system, water and fire services from
an existing main,, telephone and. electric undergrounding,
and service's, sidewalk, bus-turn. out, street lights, and
A.C. overlay of portions of the existing pavement from
Willow Brook Creek south across North McDowell to the
project boundary; approximately-.1460 feet.
d. Construction of new roadways: North McDowell Boulevard,
Montego Way and Willow Brook, Court. This construction
includes sanitary sewer mains and laterals, water mains
;and services for domestic water and fire, storm drain
system with stubs to lots, street lights, sidewalk,
removal; of existing facilities as required, power and
telephone services and~main joint trench, A.C. paving and
base rock, driveways, and signing and striping for
approximately 1350 feet .of roadway.
'e. Modification to the traffic signal at Old Redwood
. Highway/North McDowell Boulevard.
,.
Page 1 of 2
,ESTIMATE OF COSTS
Cost of Acquiring Improvements
(Phase I and Phase II)
Pri~ri'cipal amount of bonds to be redeemed to
extinguish exist-ing liens of Assessment
D-istrict No. 16
Redemption premium'on bonds to be redeemed
Total cost of acquisitions
Allowance for interest (Phase II only)
Incidental Expenses:
Preparation of Assessment Report $ 8,000.00
Bond' Counsel services 50,300.00
Bond printing cost 2,175.00
Printing of Offering Statement 750.00
Legal out-of-pocket expenses 1,000.00
Underwriter's out-of-pocket expenses 2,000.00
Legal publications & miscellaneous 5,36'8.00
$3,256,132.00
70,000.00
69.593.00
Total p~roj ect cost
Less: Estimated Reserve Fund balance,
Assessment District No. 16
Less: Earnings on invested funds
Net project cost.
Allowance for Reserve Fund (5%)
Underwriter's discount (.1.75%)
Total Amount to be assessed
$2,148,382.00
1,05.5,000.00
52,75.0.00
$3,395,725.00
87,000.00
17,000.00
$3,291,725.00
176,500.00
61,775.00
$3,530,000.00
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