HomeMy WebLinkAbout23737 RESOLUTION NO. 23737
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS DETERMINING TO UNDERTAKE
PROCEEDINGS TO REQUEST THAT THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT
AUTHORITY FORM A COMMUNITY FACILITIES DISTRICT
WITHIN THE CITY FOR THE SELENE PALM SPRINGS
RESORT PROJECT
WHEREAS, the City Council of the City of Palm Springs is interested in assisting
Selene Palm Springs, LLC in financing certain public infrastructure and parking
improvements in connection with the Selene Palm Springs (the "Project') by requesting
that the California Statewide Communities Development Authority ("CSCDA") undertake
proceedings to form a Community Facilities District ("CFD") for the Project pursuant to
the Mello-Roos Community Facilities District Act of 1982 (the "Act') for such purpose;
and
WHEREAS, Selene International, LLC (the "Developer") has requested that the
City work with CSCDA to prepare the necessary paperwork to commence such
proceedings and bring this request back to the City Council at the earliest opportunity to
commence said proceedings;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRINGS
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The foregoing recitals are true and correct and this City Council
hereby so finds and determines.
SECTION 2. The City Council hereby determines that it will consider a request
to CSCDA to form to a CFD pursuant to the Act for the Project.
SECTION 3. The City Council hereby authorizes and directs the City Manager
and City staff to work with CSCDA, its staff, counsel and consultants, to formulate a
financing plan that is most beneficial to the Developer and to the City, and to proceed
with the legal proceedings necessary to request CSCDA to finance the Project. It is
intended by the City Council that if and to the extent a financing is completed for any
portion of the Project, improvements constructed by the Developer in the financing
district which are either currently under construction or are constructed after the date of
this resolution and which are included within the eligible improvements to be financed
as determined by this Council may be acquired by the City with the proceeds of any
bonds issued as provided in the Act. Nothing in this Resolution shall be construed to
require the City or CSCDA to reimburse any person for costs incurred in connection with
the Project other than from the proceeds of bonds when, as and if issued for the Project.
SECTION 4. The City Manager is directed to bring the matter back to this
Council for consideration as required by law at the earliest opportunity.
Resolution No. 23737
Page 2
SECTION 5. This Resolution shall take effect immediately upon its passage.
PASSED, APPROVED, AND ADOPTED BY THE PALM SPRINGS CITY
COUNCIL, THIS 171h DAY OF DECEMBER, 2014.
DAVID H. READY MANAGER
ATTEST:
AMES THOMPSON, CITY CLERK
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, James Thompson, City Clerk of the City of Palm Springs, California, hereby
certify that Resolution No. 23737 was adopted by the Palm Springs City Council at a
regular meeting held on the 17th day of December, 2014, by the following vote:
AYES: Councilmember Foat, Councilmember Hutcheson, Councilmember Mills,
Mayor Pro Tern Lewin, and Mayor Pougnet.
NOES: None.
ABSENT: None.
ABSTAIN: None.
MES THOMPSON, CITY CLERK
City of Palm Springs, California 0)/is/ Za ►5