HomeMy WebLinkAboutResolution 2005-163 N.C.S. 09/19/2005 Resolution No. 2005-163 N.C.S.
of the City of Petaluma, California
A RESOLUTION OF THE CITY COUNCIL AUTHORIZING
ADDITIONAL PROJECT FUNDING FOR THE
THEATER DISTRICT PROJECT
WHEREAS, the Petaluma City Council has reviewed and considered the First
Amendment to the Owner Participation Agreement (OPA) between the Petaluma. Community
Development Commission and Basin Street Properties, Inc., and
WHEREAS, completion of the project described in the agreement is in the public
interest and is consistent with the Petaluma General Plan, the Central Petaluma Specific Plan, the
Central Business District Redevelopment Plan, and is in compliance with Article 19.3 of the
Petaluma Zoning Ordinance; and
WHEREAS, the Petaluma City Council further confirms the findings of the Petaluma
Community Development Commission, with respect to Amendment and the public
improvements described therein:
® It is compatible with the land uses authorized in, and the regulations prescribed for,
the zone in which the real property is located.
® It will be of benefit to the public health, safety and general welfare.
0 It will promote the orderly development of property or the preservation of property
values in accordance with good land use practice.
® It will eliminate blight in the Central Business District Redevelopment Project Area.
o It will substantially benefit the Central Business District Redevelopment Project
Area, increasing property tax increment and property values, enhancing the economic
vitality of the area and creating a vibrant 24-hour use of the downtown core.
a Without the amendment, the project would be financially infeasible; and
WHEREAS, additional funding from Water Resources & Conservation Funds is necessary
to complete the public improvement components of the project.
Resolution No. ?005-163 N.C.S. Page 1
NOW, THEREFORE, BE IT RESOLVED that the Petaluma City Council hereby
authorizes the City Manager to transfer $583,536 from Water Resources & Conservation Funds
to pay the City's share for handling and removing contaminated materials in the Theater District
Project (C200703) and approves the reallocation and expenditure of funds set forth in PCDC
Resolution 2005-13 adopted on September 19, 2005.
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to
Council of the City of Petaluma at a Regular meeting on the 19°' day of September, .~orn~:
2005, by the following vote:
City Attorne
AYES: Canevaro, Mayor Glass, Vice Mayor Harris, Healy, Nau ,O'Brien
NOES: Torliatt
ABSENT: None
ABSTAIN: None
ATTEST: _
City Clerk Mayor
Resolution No. 2005-163 N.C.S. Page 2