HomeMy WebLinkAboutOSB Resolution 2017-02 02/22/2017Resolution No. 2017 -02
Petaluma Oversight Board to the
Petaluma Community Development Successor Agency
RESOLUTION OF THE OVERSIGHT BOARD OF THE PETALUMA COMMUNITY
DEVELOPMENT SUCCESSOR AGENCY APPROVING THE USE OF SUCCESSOR AGENCY
FUNDS TO PAY FOR STATE HIGHWAY PROJECTS, INCLUDING THE RAINIER CROSS
TOWN CONNECTOR, IN ACCORDANCE WITH THE 2ND AMENDMENT TO THE
COOPERATIVE AGREEMENT BETWEEN THE CITY OF PETALUMA AND THE SONOMA
COUNTY TRANSPORTATION AUTHORITY, AND AS IDENTIFIED ON THE 2 017-2 018
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
WHEREAS, pursuant to authority granted under Community Redevelopment Law
(California Health and Safety Code Section 33000 et seq.) ( "CRL "), the former Petaluma
Community Development Commission ( "PCDC ") had responsibility to implement the
Redevelopment Plans for the Petaluma Community Development project area and the
Central Business District project area; and
WHEREAS, pursuant to Resolution No. 2012 -007 N.C.S., adopted by the City Council
on January 9, 2012, the City of Petaluma ( "City ") agreed to serve as the Successor Agency to
the Petaluma Community Development Commission ( "Successor Agency ") commencing
upon dissolution of PCDC on February 1, 2012 pursuant to Assembly Bill x1 26 ( "AB 26 ");
and
WHEREAS, PCDC issued bonds to pay for certain State highway projects, including an
interchange at the 101 freeway and the future Rainier cross town connector; and
WHEREAS, the City entered into a Cooperative Agreement (the "City -SCTA Coop
Agreement ") with the Sonoma County Transportation Authority ( "SCTA ") that addresses
SCTA's obligation to construct the State highway projects, and the City's obligation to provide
funds committed for such purposes by PCDC; and
WHEREAS, the City and PCDC entered into a Cooperative Agreement (the "City -PCDC
Coop Agreement ") to document and implement PCDC's obligation to provide funds for the
State highway projects; and
WHEREAS, the expenditure of funds for State highway projects pursuant to the City -
PCDC Coop Agreement was approved by the State Department of Finance (DOF) as an
enforceable obligation of the Successor Agency, and
WHEREAS, the City and SCTA entered into a 2nd Amendment to the City -SCTA Coop
Agreement that describes the remaining balance of the PCDC /Successor Agency funding
obligation and the schedule for completion of the improvements; and
OSB Resolution No. 2017 -02 Page 1
WHEREAS, the 2017 -18 Recognized Obligation Payment Schedule ( "ROPS ") that the
Oversight Board previously approved includes a request for funds to pay for a portion of the
State highway projects; and
WHEREAS, the State Department of Finance has requested that in addition to
approving the expenditure of funds on the ROPS, the Oversight Board should also review and
approve the expenditures and conditions for completion of the improvements outlined in the
2 °d Amendment to the City -SCTA Coop Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Oversight Board of the Petaluma
Community Development Successor Agency as follows:
The facts stated in the foregoing Recitals are hereby acknowledged and
affirmed.
2. The Oversight Board hereby approves the use of Successor Agency funds to
pay for State highway projects, including the Rainier Cross Town Connector, in accordance
with the 2nd Amendment to the Cooperative Agreement between the City of Petaluma and
the Sonoma County Transportation Authority, and as identified on the 2017 -2018
Recognized Obligation Payment Schedule.
3. The Executive Director and his designees are authorized to take such further
actions as may be necessary to carry out the intent of this Resolution.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Petaluma Oversight Board to the
Petaluma Community Development Successor Agency at a Regular Meeting on the 22nd of February, 2017, by the
following vote:
AYES: Duiven, Chair Healy, Vice Chair Rabbitt, Scharer
NOES: None
ABSENT: Davis, Jolley, Herrington
ABSTAIN: None
�E k
ATTEST:
Recording Secretary Chair
OSB Resolution No. 2017 -02 Page 2