HomeMy WebLinkAboutPCDC Resolution 2010-10 06/07/2010 RES®LUTI®N N®. 2010-10
PETALUflAA COAflMUIVITY DEVEB.OPnAEIVT COAlI1~ISSION
AUTHORIZING THE EXPENDITURE OF $6,459,000 OF TAX INCREMENT FUNDS
IN THE CENTRAL BUSINESS DISTRICT AND/OR
PETALUMA COMMUNITY DEVELOPMENT PROJECT AREAS
AND ADOPTING FINDINGS REQUIRED BY
CALIFORNIA HEALTH & SAFETY CODE SECTION 33445
WHEREAS, in June 2007 the Petaluma Community Development Commission ("Agency")
held a public hearing and adopted the Five Year Implementation Plan and in October 2009
held a public hearing and adopted an Addendum thereto (collectively, "Implementation. Plan")
for the Central Business District Project Area ("CBD") and the Petaluma Community
Development Project Area ("PCD") (collectively, the "Project Areas") in furtherance of the City's
adopted Redevelopment Plans for the CBD and PCD; and,
WHEREAS, the Implementation Plan provides in 2010-1 1 for the use of $6,459,000 in tax
increment funds for the purpose of funding the following public improvements
0 101 /E. Washington Street Interchange Improvements(PCD)
a Auto Center Drive Extension(PCD)
o Otd Redwood Highway Interchange(PCD)
® Rainier Ave. Cross-town Connector/Interchange(PCD)
o Caulfield Railroad Crossing(PCD)
as more particularly described in the Implementation Plan (collectively, "Public Improvements")
within the Project Areas; and,
WHEREAS, completion of the Public Improvements will help to eliminate blighting
conditions in the Project Areas because the infrastructure upgrades and circulation
improvements will address roadway, streetscape and transportation related deficiencies; as well
as improving impediments to circulation and access that deter revitalization in certain areas
within the Project Areas; 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, Agency and City staff have explored potential funding sources and
determined that aside from $639,000 in funds from various State and Local agencies (See Exhibit
1) which will be available to undertake the Public Improvements, no other reasonable means of
financing the Public Improvements are available to the community; and,
WHEREAS, 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 that are publicly owned and are located inside of or contiguous
to a project area if the legislative body determines all of the following:
PCDC Resolution No. 2010-10 Page 1
1. That the construction of the improvements that are publicly owned are of benefit to
the project area by helping to eliminate blight within the project area;
2. That no other reasonable means of financing the installation or construction of the
improvements that are publicly owned are available to the community; and
3. That the payment of funds for the cost of the improvements that are publicly owned
is consistent with the implementation plan adopted by the redevelopment agency.
NOW, THEREFORE, BE IT RESOLVED that the Petaluma Community Development
Commission:
1. Adopts the findings stated herein as true and correct and as its findings.
2. Finds that (i) the expenditure of tax increment funds to undertake the improvements
that are publicly owned as set forth in this Resolution and the Implementation Plan
will be of benefit to the Project Areas by helping to eliminate blight within the Project
Areas; (ii) no other reasonable means of financing the installation or construction of
the improvements that are publicly owned are reasonably available to the
community; and (iii) the payment of funds for the cost of the improvements that are
publicly owned is consistent with the Implementation Plan adopted for the Project
Areas.
3. Authorizes the use of $6,459,000 in Agency tax increment funds for the Public
Improvements described herein.
ADOPTED this 7+h day of June, 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
'
I~
~ -
Pamela Torliatt, Chair-~'
ATTEST:
Claire Cooper, CMC, Recording ecretary
PCDC Resolution No. 2010-10 Page 2
EXHIBIT 1
PCDC Funding for Other funding in
Project FY 2010-2011 FY 2010-2011 Source
Old Redwood Highway Interchange Traffic Mitigation
$899,000 $500,000 Impact Fees
Auto Center Drive Extension $1,172,000 $139,000 Prop 1 B
101 /E. Washington Interchange $2,732,000 $0.00
Rainier Ave. Crosstown Connector $1,356,000 $0.00
Caulfield Railroad Crossing $300,000 $0.00
TOTAL $6,459,000 $639,000
PCDC Resolution No. 2010-10 Pgge 4