HomeMy WebLinkAboutPCDC Resolution 2011-15 09/12/2011 RESOLUTION NO. 2011 -15
PETALUMA COMMUNITY DEVELOPMENT COMMISSION
RESOLUTION OF THE PETALUMA COMMUNITY DEVELOPMENT COMMISSION
AUTHORIZING THE EXPENDITURE OF $5,310,000 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 for the use of $5,310,000 in tax increment funds
for the purpose of funding the following public improvements located inside of or contiguous to
the Project Areas:
® 101/E. Washington Street Interchange Improvements(PCD)
® Auto Center Drive Extension(PCD)
® Old Redwood Highway Interchange(PCD)
® Rainier Ave, Cross -town Connector / Interchange(PCD)
® River Trail - Washington to Lakeville (PCD)
as more particularly described in the Implementation Plan (collectively, "Public Improvements ")
within the Project Areas ; and,
WHEREAS, completion of the Public Improvements will be of benefit to the Project Areas
by helping 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 $3,777,000 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:
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;
PCDC Resolution No. 2011 -15 Page 1
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 $5,310,000 in Agency tax increment funds for the Public
Improvements described herein.
ADOPTED this 12th day of September, 2011 by the following vote:
Commissioner Aye No Absent Abstain
Albertson X
Barrett X
Chair Glass X
Harris X
Vice Chair Healy X
Kearney X
Renee X
David Glass, Chair
ATTEST:
k
Claire Cooper, CMC, Recording Se etary
APPROVED AS TO FORM:
0./
Eric W. Danly, General Counsel
PCDC Resolution No. 201 1 -15 Page 2
EXHIBIT 1
Project PCDC Funding for Other Funding in Source
FY 2011 -2012 FY 2011 -2012
State Local
Old Redwood Highway Interchange $1,258,000 $3,000,000 Partnership Funds
(SLPP)
Auto Center Drive Extension $177,000 $139,000 Prop 1B
101/E. Washington Interchange $1,112,000 $0.00
Traffic Mitigation
Rainier Ave. Crosstown Connector $1,356,000 $355,000 Impact Fees
River Trail - Washington to Lakeville $1,407,000 $283,000 Measure M
TOTAL $5,310,000 $3,777,000
PCDC Resolution No. 2011 -15 Page 3