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HomeMy WebLinkAboutResolution 2004-134 N.C.S. 07/19/2004 Resolution No.2004-134 N.C.S. of the City of Petaluma, California A RESOLUTION OF THE PETALUMA CITY COUNCIL APPROVING THE EXPENDITURE OF TAX INCREMENT FUNDS FOR REHABILITATION AND RECONSTRUCTION OF ROADWAYS IN THE CENTRAL BUSINESS DISTRICT AND PETALUMA COMMUNITY DEVELOPMENT PROJECT AREAS AND ADOPTING FINDINGS REQUIRED BY HEALTH AND SAFETY CODE SECTION 33445 WHEREAS, on April 19, 2004, the Petaluma Community Development Commission ("Agency") held a public hearing and considered the Mid-Term Review of the Five Year Implementation Plan ("Implementation Plan") for the Central Business District Project Area ("CBD") and the Petaluma Community Development Area ("PCD"); and, WHEREAS, on July 14, 2004, the Petaluma City Council ("City Council") held a public hearing and considered the FY 2004-OS Proposed Budget for the period from July 1, 2004 to June 30, 2005 ("Budget"); and, WHEREAS, the Implementation Plan and the Budget provide for the transfer of $4,000,000 in tax increment funds to the City for the purpose of funding roadway rehabilitation and reconstruction, and related improvements to arterial and collector streets as more particularly described in the Implementation Plan (collectively, "Public Improvements") within the CBD and the PCD project areas (collectively, the "Project Areas"); and, WHEREAS, completion of the Public Improvements will eliminate blighting conditions in the Project Areas in that the present deteriorated condition of the roadways to be rehabilitated and reconstructed is unsightly, impairs traffic circulation, and creates pedestrian and vehicular hazards.; and, WHEREAS, the work necessary to rehabilitate and reconstruct the roadways is far in excess of the criteria established by the Association of Bay Area Governments (ABAG) for routine roadway maintenance; and, WHEREAS, Commission and City staff are aware of no other source of funds reasonably available to undertake the Public Improvements as the only other source available for such purpose would be City general fund revenues which are committed for the provision of essential services such as police and fire services; and, Resolution No. 2004-134 N.C.S. WIIEREAS, California Health and Safety Code Section 33445 provides that a redevelopment agency may, with the consent of the legislative body, pay for the cost of the construction of improvements which are publicly owned if the legislative body determines all of the following: 1. That the improvements are of benefit to the project area or the immediate neighborhood in which the project is located; 2. That no other reasonable means of financing the improvements is available to the community; and 3. That the payment of funds for the cost of the improvements will assist in the elimination of one or more blighting conditions inside the project area, and will be consistent with the implementation plan adopted by the redevelopment agency. NOW, TIIEREFORE, BE I'>c RESOLVED that the Petaluma City Council hereby: 1. Finds that (i) the expenditure of tax increment funds to undertake the Public Improvements as set forth in this Resolution and the Implementation Plan will be of benefit to the Project Areas, (ii) no other reasonable means of financing the Public Improvements is reasonably available, (iii) completion of the Public Improvements will eliminate blighting conditions in the Project Areas; and (iv) completion of the Public Improvements is consistent with the Implementation Plan adopted for the Project Areas. 2. Authorizes the expenditure of tax increment funds in the amount of $4,000,000 for the purpose of completing the Public Improvements to arterial and collector streets within the CBD/PCD Project Area. Under the power and authority conferred upon this Council by the Charter of said City. REFERENCE: Thereby certify the foregoing Resolution was introduced and adopted by the Approved as to Council of the City of Petaluma at a (Regular) (Adjourned) (Special) meeting on the ..........19`.h.......... day of .........luly 20..Q4, by the following vote: ity Attorney AYES: Mayor Glass, Harris, Healy, Vice Mayor Moynihan, O'Brien, Thompson, Torliatt NOES: None ABSENT: No ~ ATTEST: City Clerk Mayor Council File Res. No.........200A..13A.......N.C.S.