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Home My WebLink About03-037 - Resolutions RESOLUTION NO. 03-037 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA APPROVING AN ADVANCE BY THE RANCHO CUCAMONGA REDEVELOPMENT AGENCY TO THE CITY OF PART OF THE COST OF CERTAIN IMPROVEMENTS IN CONNECTION WITH CITY OF RANCHO CUCAMONGA COMMUNITY FACILITIES DISTRICT NO. 2003-01 AND AUTHORIZING AN AGREEMENT WITH THE AGENCY THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS: SECTION 1: Pursuant to provisions of the Community Redevelopment Law (California Health and Safety Code Section 33000, et seq.), and in particular Section 33445 thereof, the Rancho Cucamonga Redevelopment Agency (the "Agency") proposes to pay for or advance funds for a part of the cost of installing and constructing certain street, storm drain, domestic water, landscape, dry utility, and sidewalk improvements (the "Improvements") associated with the program of improvements authorized for City of Rancho Cucamonga Community Facilities District No. 2003-01 (the "District'). A more complete description of the Improvements is attached as Exhibit "A" hereto and incorporated herein by reference and a more complete description of the District is attached as Exhibit "B" hereto and incorporated herein by reference. The Improvements will be located in, and serve the Rancho Redevelopment Project of the Agency (the 'Project Area"). The Project Area is an area in which the combination of conditions of blight is so prevalent and so substantial that it causes a reduction of, or lack of, proper utilization of the area to such an extent that it constitutes a serious physical, social and economic burden on the community which cannot reasonably be expected to be reversed or alleviated by private enterprise or governmental action, or both, without redevelopment. Conditions of blight in the Project Area include a lack of adequate public improvements and properties which suffer from economic dislocation, deterioration or disuse. Proper infrastructure is vital to the redevelopment of the Project Area as a means of reducing these conditions of blight and of stimulating physical development and economic growth. Resolution No. 03-037 Page 2 of 7 SECTION 2: The budget constraints of the City prevent the City from financing the Improvements by any reasonable means. Traditional methods of financing such as the issuance of general obligation bonds are unavailable as a practical matter because of the extraordinary majority voter approval requirements of two-thirds of the electorate. Although a special tax imposed by the District is being used to finance the majority of the costs of the Improvements, a more extensive use of such financing or of assessment financing could overburden benefiting properties with assessments or special taxes which would be added to existing taxes and assessments. Furthermore, special taxes require a two-thirds vote and special assessments are subject to a majority protest. SECTION 3: The City Council hereby finds and determines pursuant to Health and Safety Code Section 33421.1 that the provision of the Improvements in conjunction with the development of a regional mall and other commercial improvements in the area roughly bounded by Interstate Highway 15, Rochester Avenue, Base Line Road, and Etiwanda Avenue is necessary to effectuate the purposes of the Redevelopment Plan for the Project Area. SECTION 4: The City Council hereby finds and determines that based upon the foregoing and other information presented to it: (a) the Improvements are of benefit to the Project Area, (b) the payment and advance of funds for a part of the cost of the Improvements assists in the elimination of one or more blighting conditions inside the Project Area, (c) the payment and advance of funds for a part of the cost of the Improvements is consistent with the Agency's implementation plans adopted pursuant to Health and Safety Code Section 33490; and (d) no other reasonable means of financing the Improvements are available to the City. SECTION 5: The City Council hereby approves an advance by the Agency of a part of the cost of the installation and construction of the Improvements from any revenues of the Agency lawfully available therefore, including the proceeds of tax allocation bonds. Repayment of this advance by the City shall be conditioned upon the receipt by the City of certain funds more completely identified in an Advance and Repayment Agreement (the "Agreement") to be executed between the City and the Agency. Additionally, the City Council hereby approved payment by the Agency for part of the cost of the Improvements, in an amount not to exceed $1,026,694 from any revenues of the Agency lawfully available therefore. Resolution No. 03-037 Page 3 of 7 SECTION 6: The Mayor is hereby authorized to execute the Agreement with the Agency in substantially the form on file on file in the office of the City Clerk with such changes as the Mayor may find necessary to the fulfillment of the intent of this Resolution. PASSED, APPROVED, AND ADOPTED this 19'h day of February 2003. AYES: Alexander, Gutierrez, Howdyshell, Kurth, Williams NOES: None ABSENT: None ABSTAINED: None I A41 William le andel, Mayor ATTEST: Ljtt'o-(;��eql� ebra J. Ada CMC, City Clerk I, DEBRA J. ADAMS, CITY CLERK of the City of Rancho Cucamonga, California, do hereby certify that the foregoing Resolution was duly passed, approved and adopted by the City Council of the City of Rancho Cucamonga, California, at a Regular Meeting of said City Council held on the 19`h day of February 2003. Executed this 201h day of February 2003, at Rancho Cucamonga, California. Debra J. Adams, CMC, City Clerk Resolution No. 03-037 Page 4 of 7 EXHIBIT A DESCRIPTION OF IMPROVEMENTS Public improvements required as a condition of approval of development of the property within the proposed District and other public improvements serving property within the proposed District; such improvements to include but not be limited to: Victoria Gardens Lane (and vicinity) Improvements Street Improvements Including, but not limited to, street lighting, sidewalks, grading, landscaping, striping, and traffic signal installation Storm Drain Improvements Domestic Water Improvements Landscape Improvements Dry Utilities Improvements Right-of-Way Acquisition Foothill Boulevard (and vicinity) Improvements Street Improvements Including, but not limited to, street lighting, sidewalks, grading, landscaping, striping, and traffic signal installation Storm Drain Improvements Sanitary Sewer Improvements Domestic Water Improvements Landscape Improvements Dry Utilities Improvements North Parkway Sidewalk Right-of-Way Acquisition Resolution No. 03-037 Page 5 of 7 EXHIBIT B MAP OF DISTRICT Resolution No. 03-037 Page 6 of 7 PROPOSED BOUNDARIES SHEET I OF a SHEETS OF CITY OF RANCHO CUCAMONGA COMMUNITY FACILITIES DISTRICT NO. 2003-01 IMPROVEMENT AREA NO. 1 CITY OF RANCHO CUCAMONGA,COUNTY OF SAN BERNARDINO,STATE OF CALIFORNIA �r. 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