HomeMy WebLinkAbout6/4/2008 - STAFF REPORTS - 1.B. a°4epL�SAQ
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City Council/Community Redevelopment
Agency Staff Report
DATE: JUNE 4, 2008 PUBLIC HEARING
SUBJECT: PUBLIC HEARING TO APPROVE A RESOLUTION OF THE CITY
COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, MAKING
CERTAIN FINDINGS PURSUANT TO HEALTH AND SAFETY CODE
SECTION 33445 RELATING TO PAYMENT OF ALL OR PART OF THE
COSTS OF THE INSTALLATION AND CONSTRUCTION OF CERTAIN
BUILDINGS, FACILITIES, STRUCTURES, AND OTHER
IMPROVEMENTS WITHIN MERGED REDEVELOPMENT PROJECT
AREA NO. 2, AND APPROVAL BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE SUBLEASE PAYMENTS AND
DEBT SERVICE BY THE AGENCY, FOR A 1.77 ACRE PARCEL AT
THE SOUTHWEST CORNER OF CALLE ALVARADO AND AMADO
ROAD
FROM: David H. Ready, City Manager
BY: Community & Economic Development Department
SUMMARY:
In 1995, the City of Palm Springs and the Community Redevelopment Agency made
certain findings relating to the payment by the Agency of all or part of the costs of the
installation and construction of the Convention Center improvements, located within the
Tahquitz Andreas Project Area. Pursuant to Resolution 976, the Redevelopment
Agency approved the payments to the City of a percentage of the debt service on the
City's Lease Revenue Bonds, 1991 Series A (Convention Center Project).
In 2007, the City Council made similar finding to allow the Agency to increase the
amount of its payments as a result of the expansion of the Convention Center
undertaken in 2004, making the payments with tax increment funds.
In September, 2006 the City Council approved an amended sublease of Business
Lease PSL-236 ("Agreement") for a 1.77 acre parcel at the southwest corner of Amado
Road and Calle Alvarado with United Condominium Corporation, in the amount of
$110,000 per year. The acquisition gave the City control over the parcel immediately
ITEM NO. I V
across the street from the new front door of the Convention Center and was acquired
for the benefit of the Convention Center; the City felt that the opportunity to ever have a
dramatic front plaza at the Convention Center, with the potential for outdoor, park-like
seating areas and/or drop-off areas was necessary for the success of the Convention
Center.
The Agency will also assist the City in the development of the parcel, which will form
part of the linkage between the Mondrian and Hard Rock Hotels and be an essential
element in the Agency's Section 14 Streetscape Plan.
Section 33679 of the California Community Redevelopment Law (CRL) states that
before a redevelopment agency commits to use the portion of tax increment revenues
to be allocated and paid to an agency pursuant to subdivision (b) of Section 33670 of
the CRL (tax increment financing) for the purpose of paying all or part of the value of
land for, and the cost of the installation and construction of, any publicly owned
building, other than parking facilities, the legislative body shall hold a public hearing.
A Summary Report describing the transaction was prepared pursuant to Sections
33445 and 33679 of the CRL.
RECOMMENDATION:
1. Adopt Resolution No. "A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF PALM SPRINGS, CALIFORNIA, MAKING CERTAIN FINDINGS
PURSUANT TO HEALTH AND SAFETY CODE SECTION 33445 RELATING
TO PAYMENT OF ALL OR PART OF THE COSTS OF THE INSTALLATION
AND CONSTRUCTION OF CERTAIN BUILDINGS, FACILITIES,
STRUCTURES, AND OTHER IMPROVEMENTS WITHIN MERGED
REDEVELOPMENT PROJECT AREA NO. 2"
2. Approval by the Community Redevelopment Agency of the City of Palm Springs
of the annual Sublease Payments and Debt Service Payments by the Agency
for a 1.77 acre parcel at the southwest corner of Calle Alvarado and Amado
Road, Merged Redevelopment Project Area No. 2
FISCAL IMPACT:
The Agency intends to cover the annual lease payment to United Condominium
Corporation, which is $110,000 per year and currently an obligation of the City, to be,
paid from Merged Redevelopment Project Area No- 2. In addition, the City borrowed
$1,260,000 from the Recycling Facility Fee Fund to acquire the lease; the debt service
on that loan is $100,000 per year. Both are to be paid from Merged Project Area No. 2.
The legislative body has determined that the increase in Tax Increment in Merged Area
No. 2 was directly and indirectly attributable to the expansion of the Convention Center.
00000 "
This allocation relieves the City's General Fund and Community Promotion Fund,
which currently make the lease and debt payments, of that amount.
J n S. ay o , Director of Thoma O. Wilson
mm ity & Foonomic Development Assistant City Manager
DAVID H. RE
Executive Director
Attachments:
City Resolution
Summary Report
Public Hearing Notice
MOD
RESOLUTION NO,
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, MAKING CERTAIN
FINDINGS PURSUANT TO HEALTH AND SAFETY CODE
SECTION 33445 RELATING TO PAYMENT OF ALL OR
PART OF THE COSTS OF THE INSTALLATION AND
CONSTRUCTION OF CERTAIN BUILDINGS, FACILITIES,
STRUCTURES, AND OTHER IMPROVEMENTS WITHIN
MERGED REDEVELOPMENT PROJECTS NO. 2
The City Council of the City of Palm Springs finds:
A. The City Council of the City of Palm Springs adopted the Amended and
Restated Redevelopment Plans for Merged Redevelopment Project No. 1 and Merged
Redevelopment Project No. 2 (collectively, the "Project Areas") on February 19, 2003
by Ordinance Nos. 1623 and 1624 and amended said Redevelopment Plans on May 5,
2004 by Ordinance Nos. 1649-1652.
B. The City of Palm Springs ("City") has acquired and constructed certain buildings,
facilities, structures and other improvements which constitute the Palm Springs
Convention Center (collectively the "Improvements") within Merged Project Area No. 2
described above which are publicly-owned within the meaning of California Health &
Safety Code Section 33445 (the "Statute") the project area.
C. In 1995, the City Council and the Community Redevelopment Agency of the City
of Palm Springs made certain findings relating to the payment by the Agency of all or
park of the costs of the installation and construction of certain buildings, facilities,
structures and other improvements constituting the City's Convention Center located
within the Tahquitz Andreas Project Area (Resolution 976).
D. The City Council has determined that the Improvements within the meaning of
the Statute are of benefit to Merged Redevelopment Project No. 1 as well as Merged
Redevelopment Project Area No. 2.
E. In 2004, the City issued $62,395,000 Lease Revenue Bonds, 2004 Series A
("Convention Center Expansion Project") secured by lease payments that the General
Fund is obligated to pay in full to fund the approximately 100,000 square feet of
additional meeting space, exhibit space, food service area and circulation, increasing
the City's debt service obligation by approximately $2-7 million annually to an average
of$5.8 million.
F. In July, 2006, the Agency approved the development of a "Design for
Development" Master Plan for Downtown and the Section 14 area surrounding the
Convention Center, under Section 617 of the Merged Redevelopment Plans, to serve
as a catalyst for the development of property surrounding the Palm Springs Convention
000004
Center, turning it into a quality destination resort, increasing hotel rooms and Transient
Occupancy Tax revenues, and fostering a linkage between Downtown and the
Convention Center to help maximize development of both areas.
G. The construction of privately financed and owned facilities within Merged
Redevelopment Project No. 1 and Merged Redevelopment Project Area No. 2 were a
direct or indirect result of the construction of the Improvements.
H. Those privately owned facilities produce property tax increment for the two
Project Areas, including an increase in gross tax increment in Merged Project No. 1
since the expansion commenced of 126%, or $4.5 million, and an increase in gross tax
increment in Merged Project No. 2 since the expansion commenced of 91%, or $2.2
million.
I. The City Council has determined that a reasonable allocation of the property tax
increment generated directly or indirectly by the Improvements to the payment of the
annual Sublease payment with United Condominium Corporation, under PSL-315, of
$110,000 per year, plus the debt to the City's Recycling Facility Fee Fund of
$1,260,000 in aggregate, or approximately $100,000 per year, payable from Merged
Redevelopment Project Area No.2.
J. Section 33679 of the CRL states that before a redevelopment agency commits
to use the portion of taxes to be allocated and paid to an agency pursuant to
subdivision (b) of Section 33670 of the CRL (tax increment financing) for the purpose of
paying all or part of the value of land for, and the cost of the installation and
construction of, any publicly owned building, other than parking facilities, the legislative
body shall hold a public hearing; and
K. The allocation of funds to the sublease payment and debt service is consistent
with the Agency's Implementation Plan; and
L. All of the findings and determinations made herein were based upon careful
consideration and analysis of all relevant evidence.
THE CITY COUNCIL OF THE CITY OF PALM SPRINGS RESOLVES:
SECTION 1. The City Council determines, based on the recitals contained in the
resolution and the findings and facts provided in this resolution, the agenda report,
public testimony, and any other relevant and supporting evidence, and in full
accordance with the provisions of the Statute, all of the following:
(1) The buildings, facilities, structures or other improvements are of benefit to
the project area or the immediate neighborhood in which the project is
located, regardless of whether the improvement is within another project
area, or in the case of a project area in which substantially all of the land is
000005
publicly owned that the improvement is of benefit to an adjacent project area
of the Agency.
(2) No other reasonable means of financing the buildings, facilities, structures, or
other improvements, are available to the community.
(3) The payment of funds for the acquisition of land or the costs of buildings,
facilities, structures, or other improvements will assist in the elimination of
one or more blighting conditions inside the project area or provide housing
for low or moderate income persons, and is consistent with the
implementation plan adopted pursuant to California Health and Safety Code
Section 33490.
SECTION 2. To the extent that property tax increment revenues are legally available,
the Agency has pledged to pay to the City, and the City Consents to receive, tax
increment revenues generated from Merged Project Area No. 2 in the amount of
$110,000 per year for the Sublease payment under PSL-315, plus the repayment of a
note to the City's Recycling Facility Fee Fund, which pledge shall be subordinated to all
of the existing and future bonded indebtedness of the Agency.
SECTION 3. The City Council consents to, and accepts the pledge of the Agency to
pay, payments of tax increment funds in the amount of $210,000.00 from tax increment
funds from Merged Redevelopment Project Area No. 2 consistent with the provisions
of, and for the purposes described in, this resolution.
SECTION 4. Nothing in this Resolution shall be construed as an amendment,
assignment, or transfer of any right or obligation of the City pursuant to the Sublease
under PSL-315. All City obligations pursuant to the sublease under PSL-315 shall
remain in full force and effect.
ADOPTED this 4th day of June, 2008.
David H. Ready, City Manager
ATTEST:
James Thompson, City Clerk
0000013
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. is a full, true and correct copy, and was duly adopted at a regular
meeting of the City Council of the City of Palm Springs on
by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
James Thompson, City Clerk
of the City of Palm Springs, California
SUMMARY REPORT PURSUANT TO
SECTIONS 33445 AND 33679
OF THE CALIFORNIA COMMUNITY REDEVELOPMENT LAW
RELATED TO THE MAKING OF SUBLEASE AND NOTE PAYMENTS BY
THE COMMUNITY REDEVELOPMENT AGENCY
FOR THE CITY OF PALM SPRINGS'
FOR CERTAIN PROPERTIES BENEFITTING THE
PALM SPRINGS CONVENTION CENTER
INTRODUCTION
The following Summary Report (Report) has been prepared pursuant to Sections
33445 and 33679 of the California Health and Safety Code, also known as the
California Community Redevelopment Law (CRL).
LEGISLATIVE REQUIREMENTS
Section 33679 of the CRL states that before a redevelopment agency commits to
use the portion of taxes to be allocated and paid to an agency pursuant to
subdivision (b) of Section 33670 of the CRL (tax increment financing) for the
purpose of paying all or part of the value of land for, and the cost of the
installation and construction of, any publicly owned building, other than parking
facilities, the legislative body shall hold a public hearing-
Notice of the time and place of public hearing shall be published in a newspaper
of general circulation in the community for at least two successive weeks prior to
the public hearing. There shall be available for public inspection and copying, at
a cost not to exceed the cost of duplication, a summary, which includes all of the
following:
(a) Estimates of the amount of such taxes proposed to be used to pay for
such land and construction of any publicly owned building, including
interest payments.
(b) Sets forth the facts supporting the determinations required to be made
by the legislative body pursuant to Section 33445.
(c) Sets forth the redevelopment purpose for which such taxes are being
used to pay for the land and construction of such publicly owned.
The summary shall be made available to the public for inspection and copying no
later than the time of the first publication of the notice of the public hearing.
As described below, in 1995, the City of Palm Springs made certain findings
relating to the payment by the Agency of all or part of the costs of the installation
.. 000008
and construction of certain buildings, facilities, structures and other
improvements constituting the City's Convention Center located within the
Tahquitz Andreas Project Area. The Agency increased such payments in 2007
as a result of the expansion of the Convention Center undertaken in 2004 and
expects to make payments with tax increment funds.
In September, 2006 the City Council approved an amended sublease of
Business Lease PSL-236 ("Agreement") for a 1.77 acre parcel at the southwest
corner of Amado Road and Calle Alvarado with United Condominium
Corporation, in the amount of $110,000 per year. The acquisition gave the City
control over the parcel immediately across the street from the new front door of
the Convention Center and was acquired for the benefit of the Convention
Center; the City felt that the opportunity to ever have a dramatic front plaza at the
Convention Center, with the potential for outdoor, park-like seating areas and/or
drop-off areas was necessary for the success of the Convention Center.
CRL Section 33445 states that an agency may, with the consent of the legislative
body, pay all or a part of the value of the land for and the construction of any
building, facility or structure, or other improvement which is publicly owned either
within or without the project area, if the legislative body determines all of the
following:
(1) That the buildings, facilities, structures or other improvements are of
benefit to the project area or the immediate neighborhood in which the
project is located, regardless of whether the improvement is within
another project area, or in the case of a project area in which
substantially all of the land is publicly owned that the improvement is of
benefit to an adjacent project area of the Agency.
(2) That no other reasonable means of financing the buildings, facilities,
structures, or other improvements, are available to the community.
(3) That the payment of funds for the acquisition of land or the costs of
buildings, facilities, structures, or other improvements will assist in the
elimination of one or more blighting conditions inside the project area
or provide housing for low or moderate income persons, and is
consistent with the implementation plan adopted pursuant to CRL
Section 33490.
BACKGROUND
In 1991, the City of Palm Springs refinanced debt incurred to construct the City's
Convention Center (Facility) and financed an expansion of the Facility. In 1995,
pursuant to Resolution No. 18061, the City Council determined that construction
of the Convention Center and expansion thereof directly and indirectly resulted in
construction of privately financed and owned improvement in the Tahquitz
Andreas Project Area and that those private facilities generated tax increment for
the Tahquitz Andreas Project Area. The City Council also determined that
absent the advance of certain sums by the City to construction of the Convention
Center, no other reasonable means of financing the facility was available to the
community. The City Council determined that a reasonable allocation of the
property tax increment generated directly or indirectly by the Facility was
$247,755 per year, or 6.64% of the current year's debt service on the City's
Lease Revenue Bonds, 1991 Series A (Convention Center Project).
Pursuant to Resolution 976, the Redevelopment Agency approved the payments
to the City pursuant to a Loan Agreement.
In 2002, the City began planning for an expansion of the Facility. In 2004, the
City determined that absent the advance of certain additional sums by the City
toward lease payments to secure lease revenue bonds to finance the Facility
expansion, the expansion could not occur. The City issued $62,395,000 Lease
Revenue Bonds, 2004 Series A (Convention Center Expansion Project) to fund
the approximately 100,000 square feet of additional meeting space, exhibit
space, food service are and circulation, increasing the size of the Facility by 60%.
The 2004 Bonds are secured by lease payments that the General Fund is
obligated to pay in full. After issuance of the 2004 Bonds, the City's debt service
obligation increased by approximately $2.7 million annually to an average of$5.8
million. The City was relying on the increase in transient occupancy tax that
would result from an expansion of the Facility to pay the increased lease
payments. However, the construction was more costly than projected due to
soaring construction prices relating to steel and increased transient occupancy
taxes did not materialize in the amounts estimated. On the other hand, the tax
increment from the project areas surrounding the Facility has increased
substantially as a direct and indirect result of the expansion of the Facility.
The Agency has two separate redevelopment project areas, created by merging
several underlying projects. The Facility is located in the Tahquitz Andreas
component project area of the Agency's Merged Project No. 2. However, the
Agency's Merged Project No. 1 is generally contiguous with Merged Project No.
2 and adjacent to the Facility. The gross tax increment generated in Merged
Project No. 1 and Merged Project No. 2 has increased since the expansion was
undertaken as shown in the following charts:
Merged Project No. 1
Historical Tax Increment Revenues
Project Area 2001102 2002103 2003104 2004/05 2005106 2006/07
Central Business $1,584,393 $1,346,638 $1,320,086 $1,298,482 $1,376,351 $1,525,000
Oasis 74,401 75,601 94,440 97,392 155,167 264,000
North Palm Canyon 346,254 373,777 399,220 556,545 580,502 907,000
Highland Gateway 122,318 134,820 152,771 184,539 251,854 398.000
Ramon/Bogie 216,360 296,486 312,411 344,538 456,267 881,000
South Palm Canyon 271,734 325,315 322,701 461,676 517,190 669,000
Project No. 9 553,369 778,993 986,492 1,369,929 2,462,169 3,472,000
S3,168,829 S3,331,530 $3,588,121 $4,303,101 $5,899,500 $8,117,000
Merged Project No. 2
Historical Tax Increment Revenues
Project Area 2001/02 2002/03 2003104 2004105 2005/06 2006/07
Baristo-Farrell $830,399 $1,105,447 $1,269,077 $1,694,314 $2,018,463 $2,524,000
Tahquit7-Andreas 1,285,796 767,725 754,572 859,745 975,662 1,012,000
Canyon _281,429 355,569 379,858 447,573 794,678 1,054,000
$2,397,624 $2,228,741 $2,403,507 $3,001,632 $3,788,80$ $4,590,000
ESTIMATE OF TAX INCREMENT FINANCING
At this time, the City cannot fund the entire lease payments for the convention
center financing (original and expansion) from the increased transient occupancy
taxes without impairing other essential City services. The total debt service
remaining on all debt financing for the Facility is $170 million, of which $110
million is related to the 2004 expansion.
For several years prior to the expansion of the Facility, tax increment growth in
both Merged Project No. 1 and Merged Project No. 2 had been stagnant. The
growth in gross tax increment in Merged Project No. 1 since the expansion
commenced has been 126%, or $4.5 million. This provides a net increase to the
Agency of $1.95 million after tax sharing and housing set aside deductions.
Likewise, the growth in gross tax increment in Merged Project No. 2 since the
expansion commenced has been 91%, or $22 million. This provides a net
increase to the Agency of $600,000 after tax sharing and housing set aside
deductions. The Agency estimates that the majority of the net new increment is
directly or indirectly related to the expansion.
Therefore, the Agency's contribution to the lease payments payable by the City
for the expansion should be increased from 6.64% of lease payments to 30%, or
a total of $1,740,000 annually. This represents an increase of approximately
$1.355 million, or 53% of the overall net new increment.
The increased cost to Merged Project Area No. 2 is approximately $210,000 per
year.
BENEFIT TO PROJECT AREA; BLIGHT ELIMINATION
The use of Agency funds to offset a portion of the City's lease payments used to
facilitate the expansion of the Facility will allow a greater portion of transient
occupancy taxes to be used for community promotion, thereby increasing the
City's hotel occupancy rates and convention center bookings. This increase in
Convention Center activity will benefit the project areas by drawing additional
0013012
hotel and service related development in and around the Facility. It will assist in
eliminating blighting conditions caused by inadequate parking in and around the
Facility and the increased convention and tourism activity will provide additional
opportunities to redevelop underperforming commercial development in the
northern gateway to the City.
The 1.77 acre parcel will be integrated into the future development and operation
of the Convention Center, providing outdoor display, valet drop-off, and other
critical functions for the Convention Center.
CONFORMANCE WITH THE AB 1290 IMPLEMENTATION PLAN
The assistance towards the City's lease payments relating to Convention Center
financings is in conformance with the Agency's five year Implementation Plan, as
amended.
CITY OF PALM SPRINGS
PUBLIC HEARING NOTIFICATION
' a
CITY CLERK'S DEPARTMENT
James Thompson, City Clerk
Meeting Date: June 4, 2008
Subject: PROPOSED INCREASE IN CONVENTION CENTER-RELATED
DEBT SERVICE PAYMENTS FOR MERGED REDEVELOPMENT
PROJECT AREA NO. 2
AFFIDAVIT OF PUBLICATION
1, Kathie Hart, Chief Deputy City Clerk, of the City of Palm Springs, California, do hereby
certify that a copy of the attached Notice of Public Hearing will be published in the Desert
Sun on May 21, 2008, and May 28, 2008.
1 declare under penalty of perjury that the foregoing is true and correct.
Kathie Hart, CMC
Chief Deputy City Clerk
AFFIDAVIT OF POSTING
I, Dolores Strickstein, Secretary, of the City of Palm Springs, California, do hereby certify
that a copy of the attached Notice of Public Hearing was posted at City Hall, 3200 E.
Tahquitz Canyon Drive, on the exterior legal notice posting board and in the Office of the
City Clerk on May 21, 2008.
1 declare under penalty of perjury that the foregoing is true and correct.
Dolores Strickstein
Secretary
HUI
�t
PROOF OF PUBLICATION This is space for County CIctKs Filing Stamp
(2015.5.C.C.P)
STATE OF CALIFORNIA
County of Riverside
am a citiken of the United States and a resident of Proof of Publication of
the Countv aforesaid; 1 am over the aoe of eighteen -- ...................,.----_____
years,and not a party to or interested in the
alwe+:ntitled matter. I am the principal cleric of a
printer of the,DESERT SUN PUBLISHING
No.t592
COMPANY a newspaper of general circulation, NOTICE OF YCOUC CI:AflING
printed and published in the city of Palm Springs, Caro v LMSPRINGS
County of Riverside,and which newspaper has been PROPOSED INCREASE IN CONVENTION
adjudged a newspaper of general circulation by the CENTER-RELATED DEBT SERVICE PAY -
Superior Court of the County ofRiverside,Stale of MENT5 PROJE,CTOR AEREAENUMBER2 _..
California under the date of March 24, 1988,Case NOTICE IS HEREBY GIVEN that the Palm
Number 191236; that the notice,Of which the Sp City Counoll will be conducting a public hearing
at 6;d p.m., Wednesday, June 4, 2009,In the
annexed is a printed copy(set in type not smaller City Hall Council Chamber at 3200 E Tali Can-
than non Daniel, has been published in each regular you Way,Palm springs,CA.
flD a 11d entire issue of said newspaper and not in The purpose of the public hearing is to consider a rose-
andy luboh that au0loelzes an Increase In the Community
supplement[hereof on the following dates,to wit: Redevelopment Agencys pgrnont on certain City
PP �` IeEse antl note payments related to tho cost of land as
gulsdlan relate C to the Palm Springs Convention Can-
ter.The resolution must be approved by the City Coun-
Mav 2111,28111,2008 cI actIng as the legislative body under Suellen 33679
______________ 0l the California Redevelopment Law which states that
.........
-------------------- before a redevelopment agenCY cOmmit to use the
portion of Taxes to be allocated end ppaid to an agency
pursuant to subdivision (b) of So Jon 33670 of the
—__,_....................----—__—__—---__--------_------- CRL ftax increment Imancmp)for the PuTOSO Of pay-
Ing ell or part of the value of land for,and the cost of
All in the year 2008 thy Im(alla6on and construction of any publicly owned
building other than pparking facilities, the Ieq�Slaeve
body s�i511 hold a public hearing.
I certify(or declare)under penalty of perjury that the Res once to this nonce may be made vcrdallY at the
foregoing is tree and correct. written comments may b ani e writing
tithe Clry Cohuncll by
letter.(Ior mail or hand delivery)to'
Dated at Palm Springs,California this 3'e,--,.day James Thompson,Clyry Cleric-- _--
_. 320P0 K.
Tan Springs,CA 93a02 e,
of---------- .runt -. -,2008
A map OI the Enub�ectconomic
D panel Is available at the d the
Com-
munity&Economic a k at pily H ll p200 Ent and The
Gan of the City Clerk et . n a 3200 E TangWi2
Canyyon way,palm Springs. Any questions regarding
this Ne of should be addraS on mJohn Raymond Di-
.-rector of Community d Economic OevelOpmonl at
......................`-- (760)323-8259.
y L7 Slgnanre At The hearing the City Council will hoar and Consider
CO �A v, any antl all oral antl wrluen communications regarding
ill. CL-- the proposed ruSOlutlpn and thereafter mey a opt the
resolution.At any time not later than the our set for
i^r' W (\ i the Roaring any pe..his)me y ille-a wntten statement
( j Amendmen a. Publlo leslimony will end when ections to the thepun
d,•,",G ,1) I`r tic hearing Ln closed. Should you wish t challenge any
I— 6 ` action taken by me Aggency or e Public Council on any of
the shave matters si?innc the myt hearing, you
may be limited to relsinq in court only those la5uus'you
ors also raisedat the public hearing or In wnt-
"� Ten DoI'eetmns submitted to the City CIBrK al or prior l0
}_ ea < `\ �l the pubic hearing.
f_ o G� SI necesita ayuda con osta Cana,00davar llama a to
w Ciudad as Palm 5ppdovvs yy puede hablar con Nadino
ogor Fl lciclOn0(750)32a-8241
James Thompson City Clerk
.publlahi 5121,5126/08
NOTICE OF PUBLIC HEARING
CITY COUNCIL
CITY OF PALM SPRINGS
PROPOSED INCREASE IN CONVENTION CENTER-RELATED DEBT SERVICE
PAYMENTS FOR MERGED REDEVELOPMENT PROJECT AREA NUMBER 2
NOTICE IS HEREBY GIVEN that the Palm Springs City Council will be conducting a public
hearing at 6:00 p.m., Wednesday, June 4, 2008, in the City Hall Council Chamber, at 3200 E.
Tahquitz Canyon Way, Palm Springs, CA.
The purpose of the public hearing is to consider a resolution that authorizes an increase in the
Community Redevelopment Agency's payment on certain City lease and note payments
related to the cost of land acquisition related to the Palm Springs Convention Center. The
resolution must be approved by the City Council acting as the legislative body, under Section
33679 of the California Redevelopment Law, which states that before a redevelopment agency
commits to use the portion of taxes to be allocated and paid to an agency pursuant to
subdivision (b) of Section 33670 of the GIRL (tax increment financing) for the purpose of paying
all or part of the value of land for, and the cost of the installation and construction of, any
publicly owned building, other than parking facilities, the legislative body shall hold a public
hearing.
Response to this notice may be made verbally at the Public Hearing and/or in writing before
the hearing. Written comments may be made to the City Council by letter (for mail or hand
delivery) to:
James Thompson, City Clerk
3200 E. Tahquitz Canyon Way
Palm Springs, CA 92262
A map of the subject parcel is available at the Community & Economic Development
Department and the Office of the City Clerk at City Hall, 3200 E. Tahquitz Canyon Way, Palm
Springs. Any questions regarding this Notice should be addressed to John Raymond, Director
of Community & Economic Development at (760) 323-8259.
At the hearing, the City Council will hear and consider any and all oral and written
communications regarding the proposed resolution and thereafter may adopt the resolution. At
any time not later than the hour set for the hearing any person(s) may file a written statement
with the City Clerk of their objections to the proposed Amendments. Public testimony will end
when the public hearing is closed. Should you wish to challenge any action taken by the
Agency or City Council on any of the above matters following the public hearing, you may be
limited to raising in court only those issues you or someone else raised at the public hearing or
in written objections submitted to the City Clerk at or prior to the public hearing.
Si necesita ayuda con esta carta, porfavor Ilame a la Ciudad de Palm Springs y p:uede,hablar
con Nadine Fieger telefono (760) 323-8241.
mes Thompson, City Clerk
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