HomeMy WebLinkAboutPCDC Resolution 2010-05 03/15/2010RESOLUTION NO. 2010-05
PEYALUIVI~4 COnAAAUNITY DEVELOPnl1EIVT COMMISSION
AUTHORIZING THE USE OF $13,000 OF TAX INCREMENT FUNDS IN THE
CENTRAL BUSINESS DISTRICT AND/OR PETALUAAA COMMUNITY DEVELOPMENT PROJECT
AREAS AND ADOPTING FINDINGS REQUIRED BY HEALTH AND SAFETY CODE SECTION
33445 FOR THE HISTORIC TROLLEY FEASIBILITY STUDY;
AND APPROVING THE NECESSARY BUDGET ADJUSTMENT
WHERfAS, the City Council of the City of Petaluma adopted the Redevelopment Plan for
the Central Business District Project Area (CBD) in 1976 and the Redevelopment Plan for the
Petaluma Community Development Project Area (PCD) in 1988 ("Redevelopment Plans") and
fiscally merged the Redevelopment Plans in 2006; and,
WHEREAS, the Redevelopment Plans set forth plans for redevelopment of the CBD and
PCD Project Areas ("Project Areas"); and,
WHEREAS, the PCDC is responsible for administering the Redevelopment Plans to cause
the redevelopment of the Project Areas, including installation of public improvements consistent
with the Redevelopment Plans; and,
WHEREAS, it would be beneficial to the alleviation of blight in the Project Areas to make
the following public improvements ("Public Improvements"): introduce alternative
transportation modes in the Project Area by rehabilitating existing troiley rail lines; and,
WHEREAS, the expenditure of tax increment funds will benefit the Project Areas and help
to eliminate blight as outlined in the Five Year Implementation Plan adopted by the PCDC in
June 2007, and as documented in the Report to Council on the Plan Amendment and Fiscal
Merger, accepted by the PCDC in 2006 ~"2006 Report"), because the Public Improvements will
introduce alternative transportation modes in the Project Area by rehabilitating existing trolley
rail lines, and are, therefore, of benefit to the Project Area and the immediate neighborhood in
which the Project Area is located; and,
WHEREAS, the Central Business District and Petaluma Community Development Project
Areas are essential to establishing commercial services and residential opportunities in an effort
to maintain growth inside the Urban Growth Boundary; and,
WHEREAS, the Public Improvements not only eliminate physical blighting conditions but
also promote economic development opportunities, and facilitate private investment in the
CBD and PCD Project Areas by encouraging other private investment in the area, thereby
leading to further blight alleviation; and,
WHEREAS, the PCDC and City explored potential funding sources other than
redevelopment for the project as outlined in Chapter IV of the 2006 Report; and,
WHEREAS, anticipated funding sources for the Public Improvements include $80,000 of
Caltrans Community-Based Transportation Pfanning funding, which will pay a portion of the total
project cost, and PCDC and City staff are aware of no other source of funds reasonably
available to pay the remainder of the cost of the Public Improvements other than City general
fund revenues, which are committed for the provision of essential services; and,
PCDC Resolution No. 2010-05 Page 1
WHEREAS, installation of the Pubiic Improvements conforms with the General Plan of the
City; and,
WHEREAS, the PCDC expenditures for the Public Improvements will assist in the
redevelopment of the Project Areas and the Public Improvements are necessary to effectuate
the purpose of the Redevelopment Plans; and,
WHEREAS, pursuant to Health and Safety Code Section 33445, the PCDC may, with the
consent of the City Council, pay part or all of the cost of the Public Improvements if the City
Council makes certain specified findings.
NOW, THEREFORE, BE IT RESOLVED that the Petaluma Community Development
Commission (PCDC) hereby:
Adopts the recitals stated herein as true and correct and as fhe findings of the PCDC.
2. Finds that (i) the expenditure of tax increment funds to undertake the Public
Improvements and the Project as set forth in this Resolution and the Redevelopment
Plans will be of benefit to the CBD and PCD Project Areas; (ii) no other reasonable means
of financing the Public Improvements and the Projects is reasonab~y available; (iii)
completion of the Public Improvements and the Projects will assist in the elimination of
blighting conditions in the Project Areas; and (iv) completion of the Public Improvements
and the Projects is consistent with the Implementation Plan adopted for the CBD and
PCD Project Areas.
Authorizes the use of $13,000 in PCDC tax increment funds for the Public Improvements
described herein.
Approves the following budget adjustment:
Source of Funds: Fund Balance of PCDC Admin Fund 5400 $3,000
Use of Funds: 5400.54100.69910 PCDC Admin Transfer-Out $3,000
Source of Funds: 5300.53100-49910 PCDC CIP Transfer-in $3,000
Use of Funds: 5300,53100.54150 PCDC CIP Planning/
Environmental Services $3,000
(Project Number C53401003)
ADOPTED this 15th day of March, 2010, by the following vote:
Commissioner Aye No Absent Abstain
Barrett X
Vice Chair Glass X
Harris X
Healy X
Rabbitt X
Renee X
Chair Torliatt X
PCDC Resolution No. 2010-05 Page 2
ATTEST:
Claire Cooper, CMC, Recording S retary
APPROVED AS TI~FQ)RM:
Eric Danly, Generc~l"Counsel
PCDC Resolution No. 2010-OS Page 3