Loading...
HomeMy WebLinkAbout4/7/2004 - STAFF REPORTS (26) DATE: APRIL 7, 2004 TO: CITY COUNCIL FROM: DIRECTOR OF COMMUNITY& ECONOMIC DEVELOPMENT CONSIDERATION OF TIME EXTENSIONS FOR EFFECTIVENESS OF REDEVELOPMENT PLANS, EXTENDING THE TIME LIMITS FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF PROPERTY TAXES UNDER THE REDEVELOPMENT PLANS, AND ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS, ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE REDEVELOPMENT PLANS RECOMMENDATION: That the City Council introduce and conduct the first reading of: 1) Ordinance No._to extend the existing time limits for redevelopment activities, for payment of indebtedness and receipt of tax increment revenues forthe Merged Redevelopment Plan for Merged Redevelopment Project No. 1 pursuant to Health and Safety Code Sections 33333.6(e)(2)(C) and 33333.2(c); and 2) Ordinance No. to extend the existing time limits for redevelopment activities, for payment of indebtedness and receipt of tax increment revenues for the Merged Redevelopment Plan for Merged Redevelopment Project No.2 pursuant to Health and Safety Code Sections 33333.6(e)(2)(C)and 33333.2(c); and 3) Ordinance No. to eliminate the time limit on establishment of loans, advances and indebtedness with respect to the Merged Redevelopment Plan for Merged Redevelopment Project No. 1 pursuant to Health and Safety Code Section 33333.6(e)(2); and 4) Ordinance No. to eliminate the time limit on establishment of loans, advances and indebtedness with respect to the Merged Redevelopment Plan for Merged Redevelopment Project No.2 pursuant to Health and Safety Code Section 33333.6(e)(2). SUMMARY: The two proposed ordinances for the extension of time limits for redevelopment activities,for payment of indebtedness and receipt of tax increment revenues for the Redevelopment Plans for Merged Redevelopment Project No. 1 and Merged Redevelopment Project No. 2, are in keeping with the provisions of Senate Bill 1045 which became effective on September 2, 2003. The two proposed ordinances to eliminate time limits on establishment of loans, advances and indebtedness with respect to these two Project Areas are in accordance with the provisions of California Community Redevelopment Law Section 33333.6(e)(2)as amended by the California legislature in 2001, effective January 1, 2002. The combined effect of these four ordinances would allow for the future refinancing of Community Redevelopment Agency bonds to take advantage of lower interest rates currently available in the financial markets. BACKGROUND: Assembly Bill 1290 which became effective in 1994 imposed certain time limits on redevelopment plans including time limits on incurring debt, receipt of tax increment and effectiveness of the plan. The State Legislature passed Senate Bill 1045 on August 19, 2003, which became effective September 2, 2003. SB 1045 requires redevelopment agencies to make certain payments to the county auditor for deposit into the county's Educational Revenue Augmentation Fund, but also permits redevelopment agencies which make such payments to amend their redevelopment plans by extending the time limits contained in such redevelopment plans by one year for redevelopment activities and for receipt of tax increment revenues. Such an amendment simply requires the adoption of an ordinance by the city council without any noticing, hearing, or documentation requirements normally applicable to a redevelopment plan amendment, although standard ordinance adoption procedures must be followed. Most redevelopment plan amendments will trigger statutory pass-through payments to all taxing entities with whom the agency does not already have a pass-through agreement. This will not be the case for an amendment adopted pursuant to SB 1045. Health and Safety Code Section 33681.9 requires the Agency to make an ERAF payment of $277,000 to Riverside County Auditor on May 10, 2004. The ultimate beneficiary of this payment is the State of California. Accordingly, the City is authorized to adopt the Ordinances extending the time limits for redevelopment activities and receipt of tax increment revenues with respect to the Merged Redevelopment Plans for Merged Redevelopment Project No. 1 and Merged Redevelopment Project No. 2, The City is also authorized to adopt Ordinances eliminating the time limits on establishment of loans,advances and indebtedness with respect to these two Project Areas in accordance with the provisions of California Community Redevelopment Law Section 33333.6(e)(2) as amended by the California legislature in 2001, effective January 1, 2002. The combined effect of these four ordinances would allow for the future refinancing of Community Redevelopment Agency bonds to take advantage of lower interest rates currently available in the financial markets. J `HN S RAYM N Di ct of Community& Economic Development APPROVEDt�c��=._— cc� City Manager ' ATTACHMENTS: 1. Resolutions � j> ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS, CALIFORNIA EXTENDING THE TIME LIMITS FOR THE EFFECTIVENESS OF THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; EXTENDING THE TIME LIMIT FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF TAX INCREMENT UNDER THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Central Business District, the South Palm Canyon Project, the Ramon-Bogie Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, and Project Area No. 9 (collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1584 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan") for Merged Redevelopment Project No. 1 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1623 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes time limits on the effectiveness of the Amended and Restated Plan and time limits on the period for payment of indebtedness and receipt of property taxes under the Amended and Restated Plan for each of the Constituent Areas; and WHEREAS, by and through Senate Bill 1045,enrolled on August 19,2003 and chaptered on September 2, 2003("SB 1045",)CRL Section 33333.6 was amended to provide that as to redevelopment plans originally adopted before January 1, 1994, and when such redevelopment agency is required to make a payment to the Educational Revenue Augmentation Fund in fiscal year 2003-2004 pursuant to CRL 33681.9, the City Council, as the legislative body of the Agency, may enact an ordinance to extend by one year the time limit on the effectiveness of the redevelopment plan and the time limit for payment of indebtedness and receipt of property taxes under the redevelopment plan, each and respectively; and WHEREAS, SB 1045 further provides that such ordinance may be adopted without compliance with the normal procedures for redevelopment plan amendments; and a 01 WHEREAS, the City Council desires to adopt this ordinance to amend and extend certain time limitations of the Amended and Restated Plan, as more particularly setforth below, in accordance with Section 33333.6, as amended by SB 1045; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000 et seq.) ("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment; and NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRING DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The current time limit on the effectiveness of the Amended and Restated Redevelopment Plan for each of the Constituent Areas is hereby extended by one year as follows: From To Central Business District 07/11/2013 07/11/2014 South Palm Canyon 11/30/2023 11/30/2024 Ramon-Bogie 11/30/2023 11/30/2024 Oasis 07/10/2024 07/10/2025 North Palm Canyon 09/19/2024 09/19/2025 Highland-Gateway 11/20/2024 11/20/2025 Project No. 9 12/29/2028 12/29/2029 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect to the Redevelopment Plan at any time during which the Redevelopment Plan is effective. SECTION2. The current time limit on paying indebtedness or the receipt of tax increment pursuant to the Amended and Restated Redevelopment Plan and California Community Redevelopment Law for each of the Constituent Areas is hereby extended by one year as follows: From To Central Business District 07/11/2023 07/11/2024 South Palm Canyon 11/30/2033 11/30/2034 Ramon-Bogie 11/30/2033 11/30/2034 Oasis 07/10/2034 07/10/2035 North Palm Canyon 09/19/2034 09/19/2035 Highland-Gateway 11/20/2034 11/20/2035 Project No. 9 12/29/2038 12/29/2039 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect thereto during such extended period. d�� SECTION 3. Except with respect to the amendments set forth herein, the Amended and Restated Redevelopment Plan,as amended herein, is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15094. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall cause the same or summary thereof, or a display advertisement, duly prepared according to law, to be published in accordance with law. ADOPTED this day of 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED & APPROVED , o13 ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS, CALIFORNIA EXTENDING THE TIME LIMITS FOR THE EFFECTIVENESS OF THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; EXTENDING THE TIME LIMIT FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF TAX INCREMENT UNDER THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Tahquitz-Andreas Project, Baristo-Farrell Project and Canyon Project(collectively, the "Constituent Areas") were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1583 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan")for Merged Redevelopment Project No. 2 (the "Project'); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1624 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes time limits on the effectiveness of the Amended and Restated Plan and time limits on the period for payment of indebtedness and receipt of property taxes under the Amended and Restated Plan for each of the Constituent Areas; and WHEREAS, byand through Senate Bill 1045, enrolled on August 19,2003 and chaptered on September 2,2003("SB 1045",)CRL Section 33333.E was amended to provide that as to redevelopment plans originally adopted before January 1, 1994, and when such redevelopment agency is required to make a payment to the Educational Revenue Augmentation Fund in fiscal year 2003-2004 pursuant to CRL 33681.9, the City Council, as the legislative body of the Agency, may enact an ordinance to extend by one year the time limit on the effectiveness of the redevelopment plan and the time limit for payment of indebtedness and receipt of property taxes under the redevelopment plan, each and respectively; and WHEREAS, SB 1045 further provides that such ordinance may be adopted without compliance with the normal procedures for redevelopment plan amendments; and WHEREAS,the City Council desires to adopt this ordinance to amend and extend certain time limitations of the Amended and Restated Plan,as more particularly set forth below, in accordance with Section 33333.6, as amended by SB 1045; and a 0 emmv WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000 et seq.) ("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment; and NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRING DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The current time limit on the effectiveness of the Amended and Restated Redevelopment Plan for each of the Constituent Areas is hereby extended by one year as follows: From To Tahquitz-Andreas 07/19/2023 07/19/2024 Baristo-Farrell 05/07/2026 05/07/2027 Canyon 07/19/2031 07/19/2032 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect to the Amended and Restated Redevelopment Plan at any time during which the Redevelopment Plan is effective. SECTION 2. The current time limit on paying indebtedness or the receipt of tax increment pursuant to the Amended and Restated Redevelopment Plan and California Community Redevelopment Law for each of the Constituent Areas is hereby extended by one year as follows: From To Tahquitz-Andreas 07/19/2033 07/19/2034 Baristo-Farrell 05/07/2036 05/07/2037 Canyon 07/19/2041 07/19/2042 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect thereto during such extended period. SECTION 3. Except with respect to the amendments set forth herein,the Amended and Restated Redevelopment Plan,as amended herein, is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15094. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30) days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall cause the same or summary thereof, or a display advertisement, duly prepared according to law, to be published in accordance with law. dbcoox ADOPTED this day of 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED & APPROVED aDC3 ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS,ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Central Business District, the South Palm Canyon Project, the Ramon-Bogie Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, and Project Area No. 9 (collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1584 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan") for Merged Redevelopment Project No. 1 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1623 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes deadlines for incurring indebtedness for each of the Constituent Areas as adopted previously by Ordinances of the City Council on December 21, 1994, which among other actions, added certain provisions and limitations to the Redevelopment Plan as required by CRL Section 33333.6,that, among such limitations, set the following deadlines afterwhich the Agency may not incur debt in conjunction with implementation of the Redevelopment Plan for the Project: Deadline Ordinance No. Central Business District 01/01/2004 1497 South Palm Canyon 01/01/2004. 1494 Ramon-Bogie 01/01/2004. 1490 Oasis 07/10/2004. 1495 North Palm Canyon 09/19/2004 1498 Highland-Gateway 11/20/2004 1491 Project No. 9 12/29/2008 1496 WHEREAS, CRL Section 33333.6(e)(2) was amended by the California legislature in 2001, effective January 1, 2002, to provide that as to redevelopment plans originally a6b adopted pre-January 1, 1994 the legislative body of an agency(City Council) may enact an ordinance eliminating the deadline on incurring indebtedness formerly required by CRL Section 33333.6, and to further provide that such ordinance may be adopted without compliance with CRL Section 33354.6 or Article 12 of the CRL, except that the redevelopment agency must begin making certain payments of portions of the Agency's tax increment to affected taxing entities required by CRL Section 33607.7 commencing from the date the applicable redevelopment plan reaches the previously existing deadline to incur debt; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000, et seq.)("CEQA')pursuant to CEQA Guidelines Section 15378(b)(4) (California Code of Regulations Section 15378(b)(4)) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. NOW THEREFORE, the City Council of the City of Palm Springs hereby ordains as follows: SECTION 1. The time limits to incur debt set forth in the Amended and Restated Redevelopment Plan and the implementation thereof is hereby eliminated. SECTION 2. The Community Redevelopment Agency is hereby authorized to incur indebtedness and any other obligations with respect to the Amended and Restated Redevelopment Plan in accordance with all remaining provisions of such Plan at any time during which the Plan is effective. SECTION 3. Except with respect to the amendment set forth herein, the Amended and Restated Redevelopment Plan is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized and directed to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15094. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall cause the same or summary thereof, or a display advertisement, duly prepared according to law, to be published in accordance with law. ADOPTED this_day of 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED aDbO)L ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS,ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Tahquitz-Andreas Project, Baristo-Farrell Project, and Canyon Project(collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1583 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan")for Merged Redevelopment Project No. 2 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1624 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes deadlines for incurring indebtedness for each of the Constituent Areas as adopted previously by Ordinances of the City Council on December 21, 1994, which among other actions, added certain provisions and limitations to the Redevelopment Plan as required by CRL Section 33333.6, that, among such limitations, set the following deadlines after which the Agency may not incur debt in conjunction with implementation of the Redevelopment Plan for the Project: Deadline Ordinance No. Tahquitz-Andreas 01/01/2004 1489 Baristo-Farrell 01/01/2004. 1493 Canyon 01/01/2004. 1492 WHEREAS, CRL Section 33333.6(e)(2) was amended by the California legislature in 2001, effective January 1, 2002, to provide that as to redevelopment plans originally adopted pre-January 1, 1994 the legislative body of an agency(City Council) may enact an ordinance eliminating the deadline on incurring indebtedness formerly required by CRL Section 33333.6, and to further provide that such ordinance may be adopted without compliance with CRL Section 33354.6 or Article 12 of the CRL, except that the redevelopment agency must begin making certain payments of portions of the Agency's tax increment to affected taxing entities required by CRL Section 33607.7 commencing aDE from the date the applicable redevelopment plan reaches the previously existing deadline to incur debt; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000, et seq.)("CEQA')pursuant to CEQA Guidelines Section 15378(b)(4) (California Code of Regulations Section 15378(b)(4)) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. NOW THEREFORE, the City Council of the City of Palm Springs hereby ordains as follows: SECTION 1. The time limits to incur debt set forth in the Amended and Restated Redevelopment Plan and the implementation thereof is hereby eliminated. SECTION 2. The Community Redevelopment Agency is hereby authorized to incur indebtedness and any other obligations with respect to the Amended and Restated Redevelopment Plan in accordance with all remaining provisions of such Plan at anytime during which the Plan is effective. SECTION 3. Except with respect to the amendment set forth herein, the Amended and Restated Redevelopment Plan is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized and directed to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15094. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall cause the same or summary thereof, or a display advertisement, duly prepared according to law, to be published in accordance with law. ADOPTED this day of 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED ao ��