HomeMy WebLinkAbout1/1/1987 - CRA RESOLUTIONS RESOLUTION NO. 454
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING AGREEMENT WITH THE LUTHER
COMPANY LIMITED PARTNERSHIP, A MINNESOTA
LIMITED PARTNERSHIP, ASSUMING ALL THE
DUTIES AND OBLIGATIONS OF PETER EPSTEEN,
LTD. INCLUDING ACQUISITION OF PARCEL
#2 FOR THE DEVELOPMENT OF AN AUTO SALES
CENTER.
WHEREAS the Agency has entered into a Disposition and Development Agreement
with Peter Epsteen, Ltd. to facilitate the development of an auto center
through the use of certain tax increments; and
WHEREAS the Disposition and Development Agreement between the Agency and
Peter Epsteen, Ltd. approved on March 11, 1986 called for Agency approval
of any assignment of the Agreement; and
WHEREAS Peter Epsteen, Ltd. had requested and the Community Redevelopment
Agency had approved the assignment of the Agreement to Luther Company Limited
Partnership by Resolution No. 453; and
WHEREAS the Luther Company Limited Partnership, a Minnesota Limited Partner-
ship has read and agrees to all of Peter Epsteen' s duties and obligations,
' a copy of the Agreement which is on file in the office of the City Clerk;
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs approving an Agreement between the Community
Redevelopment Agency and the Luther Company Limited Partnership, a Minnesota
Limited Partnership and consenting to the sale of Parcel 2 of Tract 18787
therefore, and the assumption of all obligations of Peter Epsteen, Ltd. ,
and authorizing the Executive Director to sign all documents related thereto,
including agreement assuming duties and obligations of seller.
ADOPTED this 7th day of January , 1987.
AYES: Members Apfelbaum, Birer, Smith and Mayor Bogert
NOES: None
ABSENT: None
ABSTAIN: Member Foster
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGSIFORNIA
�__As'sistant Secretary airman
REVIEWED AND APPROVED:
1
RESOLUTION NO. 455
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY GF PALM SPRING, CALIFORNIA,
AMENDING THE BUDGET FOR THE 1986-87 FISCAL YEAR.
WHEREAS Resolution 431 approving the budget for the fiscal year
1986-87 was adopted on June 18, 1986; and
WHEREAS the Executive Director has recommended, and the Community Redevelop-
ment Agency desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized
to record inter-fund cash transfers as required in accordance with
this Resolution, and that Resolution 431 adopting the budget for
the 1986-87 fiscal year is hereby amended as follows:
SECTION 1 . ADDITIONS
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 814 0183 4501 4645 $27,500
Title: Land Dunham
Redevelopment Ramon-Bogie Acquisition Property
Purpose: To fund downpayment and related costs for property adjacent ,
to Auto Center
SECTION 2. SOURCE
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 814 301 $27,500
Title:
Redevelopment Fund Balance
Adopted this 7th day of January 19 87 .
AYES: Members Apfelbaum, Birer, Smith and Mayor Bogert
NOES: None
ABSENT: None
ABSTAIN: Member Foster COMMUNITY REDEVELOPMENT AGENCY
ATTEST: CITY OF PALM SPRINGS,rNCO A
lAssistant Secret a -Chaiirma
REVIEWED & APPROVED _.. Y
RESOLUTION NO. 456
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
' AUTHORIZING THE ACQUISITION OF CERTAIN
REAL PROPERTY KNOWN AS THE AUTO CENTER
SLIVER PARCEL IN THE RAMON-BOGIE REDEVEL-
OPMENT PROJECT.
WHEREAS the City Council has designated itself as a Community Redevelopment
Agency and taken the necessary action in accordance with State Law to initiate
a redevelopment program in the Ramon-Bogie Project Area; and
WHEREAS the Redevelopment Agency of the City of Palm Springs has determined
to acquire real property within the Ramon-Bogie Project Area, known as the
Auto Center Sliver Parcel (see attached map) for the purpose of the expansion
of an auto sales center in conformance with the implementation of the Redevel-
opment Plan;
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs as follows:
Section 1. The Executive Director of the Agency is authorized to offer
and acquire the Auto Center Sliver Parcel from the property
owner in accordance with all applicable laws.
Section 2. The offer shall be for One Hundred Fifty One Thousand Eight
Hundred Fifty Dollars ($151,850.00) .
Section 3. The property shall be held for resale to additional dealerships
in the Auto Sales Center.
Section 4. The Executive Director shall accept the deed on behalf of the
Community Redevelopment Agency.
Section 5. The City Clerk shall record the deed with the County Recorder.
ADOPTED this ___4th day of _ February__'____ , 1987.
AYES: Members Apfelbaum, Birer, Smith and Chairman Bogert
NOES: None
ABSENT: None
ABSTAIN: Member Foster
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNLA
ssistant Secretary Chairmen
' REVIEWED AND
RESOLUTION NO. 457
OF THE COMMUNITY REDEVELOPMENT AGENCY '
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING THE "RECIPROCAL EASEMENT
AND OPERATING AGREEMENT BY AND AMONG
NORTH PLAZA ASSOCIATES, SOUTH PLAZA
ASSOCIATES, AND PRATT/NORTH PLAZA
ASSOCIATES" .
WHEREAS Section 703 of the Participation Agreement for the Desert Fashion
Plaza requires the Agency review and approval of reciprocal easement agree-
ments between the various parts of the Plaza, and
WHEREAS the Edward J. DeBartolo Corporation has submitted such an agreement
for the North Plaza Associates, South Plaza Associates, and Pratt/North
Plaza Associates; and
WHEREAS said agreement has been reviewed by Agency counsel and has been
found to conform with the requirements of the Participation Agreement;
NOW THEREFORE BE IT RESOLVED that the Community Redevelopment Agency of
the City of Palm Springs does hereby approve the Agreement referenced in
the above title.
ADOPTED this _ 4th _ day of _ February 1987. '
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
Assistant Secretary Chgrman
REVIEWED AND APPROVED: z- r,L--_-__ u____ _-_
RESOLUTION NO. 458
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
AUTHORIZING_ AGREEMENT_WITH _N_ORTH -CANYON
PLAZA PARTNERSHIP FOR RENOVATION OF
' PROPERTY ON THE EAST SIDE OF PALM CANYON
DRIVE, BETWEEN TAHQUITZ WAY AND ANDREAS
ROAD.
WHEREAS North Canyon Plaza Partnership is the owner of that certain
parcel of land shown on Exhibit "A" , attached hereto and made apart hereof;
and
WHEREAS said property has been upgraded by the owner; and
WHEREAS the owner has agreed to meet certain conditions related to the renova-
tion of its property; and
WHEREAS the Redevelopment Plan for the Central Business District Redevelopment
Area authorizes the Agency to enter into development agreements for projects
consistent with that Plan:
NOW THEREFORE, the Community Redevelopment Agency of the City of Palm Springs
does hereby resolve that an Owner Participation agreement for the North
Canyon Plaza property is hereby approved.
' ADOPTED this ` 18th day of _ Fphruary 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, IFORNIA
&Y i
'-- Assistant Secretary -M rman
f..
REVIEWED AND APPROVED: 0YZ( 4
0
RESOLUTION NO. 458
lQ DIAtJ
I
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I
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IFA0A CAU100
rroruyED lUEtJ x5fA(il-
RESOLUTION NO. 459
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
ADOPTING A POLICY FOR THE USE OF TAX
INCREMENT FUNDS TO ASSIST THE COSTS
OF AN ASSESSMENT DISTRICT TO DEVELOP
STREET IMPROVEMENTS IN A PORTION OF
THE RAMON-BOGIE REDEVELOPMENT PROJECT
AREA.
WHEREAS the Redevelopment Plan for the Ramon-Bogie Redevelopment Project
Area identifies the street improvements in the area bounded by Ramon Road,
Gene Autry Trail , Sunny Dunes Road, and Vella Road as necessary to effect
the revitalization of the Project Area; and
WHEREAS the Agency desires to encourage the provision of at least part of
the cost of these street improvements by private property owners;
NOW THEREFORE be it resolved by the Community Redevelopment Agency of the
City of Palm Springs, California, as follows:
Section 1. The Agency hereby adopts a policy for the use of tax increment
funds to assist the costs of an assessment district to develop
street improvements in the portion of the Ramon-Bogie Redevelop-
ment Project Area identified above.
Section 2. The level of such assistance shall be limited to 75 percent
of the cost of new pavement and base, including a proportionate
share of the assessment district overhead and design costs,
up to a maximum of $35,000 per year over the life of the
assessment district or an equivalent cash amount based on the
interest rate for the assessment bonds.
Section 3. The commitment on the part of the Agency is contingent on the
formation by the various property owners in the area of an assess-
ment district for the required street improvements.
ADOPTED this 18th day of February , 1987.
AYES: Members Apfelbaum, Birer, Smith and Chairman Bogert
NOES: None
ABSENT: None
ABSTAIN: Member Foster
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CAL ,FfNIA
�__)4'ssistant Secretary Char n
' REVIEWED AND APPROVED:
RESOLUTION 'NO. 460
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
ADOPTING A REDEVELOPMENT POLICY FOR '
DEVELOPER ASSISTANCE.
WHEREAS the Agency has generally operated in response to developer requests
and has evaluated those requests based on the merits of the project; and
WHEREAS it is staff's desire to have specific guidelines to follow so that
they may respond and guide developers and property owners in the direction
desired by the Agency;
NOW THEREFORE be it resolved by the Community Redevelopment Agency of the
City of Palm Springs to adopt the attached Redevelopment Policy for Developer
Assistance.
ADOPTED this 18th day of February _, 1987,.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA '
Syr e. r'
BY—'"` - Chair n
LA D stant Secretary
REVIEWED AND APPROVED:
NLSULU110N NU. 46U
REDEVELOPMENT POLICY
ON DEVELOPER ASSISTANCE
It shall be the policy of the Community Redevelopment Agency of the City
of Palm Springs to encourage the assembly of land and the redevelopment
of substandard properties within its several redevelopment areas. The extent
of participation by the Agency shall be based on:
Benefit of the project to the City.
Benefit of the project to the neighborhood.
Return on investment to the Agency and City.
Quality and experience of development team.
Conformance of the project to the zoning or General Plan for the area.
Demand for the project use.
Extent to which the project meets the values of the project area.
Extent to which project would not occur without Agency assistance.
Comparison with alternatives for development of the site.
Competitiveness of project to non-assisted projects.
The types of assistance which may be considered are:
-The use of eminent domain.
-The write-off of substandard or functionally obsolescent buildings.
-The relocation of businesses and residential tenants.
-Financing of public parkings.
-Offsite improvements.
Demolition
The Agency will consider types and extent of assistance based on staff
analysis and report of benefits to the City/Agency and extent to which the
development needs assistance. The report shall include a response to all
the issues above.
1/87
RESOLUTION NO. 461
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, CALIFORNIA, APPROVING
AN AGREEMENT FOR LEGAL SERVICES WITH JONES HALL
HILL & WHITE.
WHEREAS the Community Redevelopment Agency issued $9,300,000
in Central Business District Redevelopment Project Tax Allocation
Bonds in March of 1984; and
WHEREAS interest rates have significantly fallen since March,
1984 creating the opportunity to refinance the $9,300,000 issue
and decrease debt service obligations; and
WHEREAS The Community Redevelopment Agency desires to refinance
the $9,300,000 issue and employ the firm of Jones Hall Hill
& White to act as legal counsel ;
NOW THEREFORE, the Community Redevelopment Agency of the City
of Palm Springs does hereby resolve to approve an agreement
for legal services with Jones Hall Hill & White.
ADOPTED this 4th day of March , 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None ,
ABSENT: None
ATTEST: CITY OF PALM SPRI�IG�; CALIFORNIA
LAsssistant Secretar „ Chairman
REVIEWED & APPROVEDJ� 1
RESOLUTION NO. 462
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, CALIFORNIA, APPROVING
AN AGREEMENT FOR UNDERWRITING SERVICES WITH
' STONE & YOUNGBERG. - -
WHEREAS the Community Redevelopment Agency issued $9,300,000
in Central Business District Redevelopment Project Tax Allocation
Bonds in March of 1984; and
WHEREAS interest rates have significantly fallen since March,
1984 creating the opportunity to refinance the $9,300,000 issue
and decrease debt service obligations ; and
WHEREAS The Community Redevelopment Agency desires to refinance
the $9,300,000 issue and employ the firm of Stone & Youngberg
to act as underwriter;
NOW THEREFORE, the Community Redevelopment Agency of the City
of Palm Springs does hereby resolve to approve an agreement
for underwriting services with Stone & Youngberg.
ADOPTED this 4th day of March , 1987.
' AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: CITY OF PALM SPRINGS, CAL I1RNIA
B �
Mssistant Secretary �� Chairman
REVIEWED & APPROVED
r �i
RESOLUTION NO. 463
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF PALM SPRINGS AUTHORIZING ISSUANCE OF '
NOT TO EXCEED $ 10,400,000 PRINCIPAL AMOUNT
OF CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT
TAX ALLOCATION REFUNDING BONDS, APPROVING AND
AUTHORIZING AND DIRECTING EXECUTION OF INDENTURE
OF TRUST RELATING THERETO, AUTHORIZING SALE OF SUCH
BONDS, APPROVING OFFICIAL STATEMENT AND
AUTHORIZING OFFICIAL ACTION
WHEREAS, the Agency is authorized pursuant to the California Redevelopment
Law and the provisions of Article 11 of Chapter 3 of Part 1 of Division 2 of the Government
Code of the State of California (the "Law") to issue its tax allocation bonds for the purpose
of refunding outstanding tax allocation bonds previously issued by the Agency; and
WHEREAS, the Agency has previously issued $9,300,000 aggregate principal
amount of its Community Redevelopment Agency of the City, of Palm Springs Central
Business District Redevelopment Project Tax Allocation Bonds„ 1984 Series A (the "1984
Bonds"), which are payable from and secured by a lien on the tax revenues derived from
the Central Business District Redevelopment Project; and
WHEREAS, after due investigation and deliberation, the Agency has determined
that it is in the interests of the Agency at this time to provide for the issuance of its
Community Redevelopment Agency of the City of Palm Springs Central Business District '
Redevelopment Project Tax Allocation Refunding Bonds, Issue of 1987 (the "Bonds") for
the purpose of refunding the 1984 Bonds and thereby realizing certain interest rate
savings; and
WHEREAS, the Bonds are proposed to be issued pursuant to an Indenture of Trust
dated as of March 1, 1987, (the "Indenture") by and between the Agency and First
Interstate Bank of California as trustee; and
WHEREAS, Stone & Youngberg (the "Underwriter") has informed the Agency that it
intends to submit an offer to purchase the Bonds, and in connection therewith the
Underwriter has caused to be prepared a Official Statement describing the Bonds, the
preliminary form of which is on file with the Secretary; and
WHEREAS, the Agency wishes at this time to approve said transactions in the
public interests of the Agency,
RESOLUTION NO. 463
NOW, THEREFORE, BE IT RESOLVED by the Community Redevelopment Agency
of the City of Palm Springs as follows:
Section 1. Issuance of Bonds. The Agency hereby authorizes the issuance of the
Bonds under and pursuant to the Law and the Indenture in the principal amount of not to
exceed $ 10,400,0OOThe Bonds shall mature on March 1 in each of the years and in the
maximum principal amounts per maturity as set forth in Exhibit A hereto. The Agency
' hereby approves the Indenture in substantially the form on file with the Secretary together
with any additions thereto or changes therein deemed necessary or advisable by the
Executive Director. The Chairman and Secretary of the Agency are hereby authorized
and directed to execute, attest and affix the seal of the Agency to the Indenture for and in
the name and on behalf of the Agency. The Agency hereby authorizes the delivery and
performance of the Indenture.
Section 2. Sale of Bonds. The Agency hereby authorizes the sale of the Bonds to
the Underwriter pursuant to the Purchase Agreement between the Agency and the
Underwriter in substantially the form on file with the Secretary. The Executive Director is
hereby delegated the authority to accept an offer from the Underwriter to purchase the
Bonds and to execute said Purchase Agreement for and in the name and on behalf of the
Agency; provided, however, that the rate of interest to be borne by the Bonds of each
maturity shall not exceed the respective rates set forth in Exhibit A hereto.
Section 3. Official Statement The Agency hereby approves the preliminary Official
Statement describing the Bonds, in substantially the form submitted by the Underwriter and
on file with the Secretary, together with any changes therein or additions thereto deemed
approved by the Executive Director, whose execution thereof shall be conclusive evidence
of such approval. Distribution of the preliminary Official Statement by the Underwriter to
prospective purchasers of the bonds is hereby ratified and approved. The Agency hereby
authorizes the distribution by the Underwriter of the final Official Statement. The Executive
Director is hereby authorized and directed to approve any changes in or additions to a
' final form of said Official Statement deemed advisable by the Executive Director, and to
execute said final Official Statement for and in the name and on behalf of the Agency.
Section 4. Official Action. All actions heretofore taken by the officers and agents of
the Agency with respect to the issuance of the Bonds are hereby approved, confirmed and
ratified. The Chairman, the Executive Director, the Redevelopment Director, the
Treasurer, the Secretary and any and all other officers of the Agency are hereby
authorized and directed, for and in the name and on behalf of the Agency, to do any and
all things and take any and all actions, including execution and delivery of any and all
assignments, certificates, requisitions, agreements (including but not limited to an Escrow
Deposit and Trust Agreement relating to the refunding of the 1984 Bonds), notices,
consents, instruments of conveyance, warrants and other documents, which they, or any
of them, may deem necessary or advisable in order to consummate the sale and
issuance of the Bonds pursuant to the documents described herein.
2
RESOLUTION NO. 463
ADOPTED this 4th day of March 1987 .
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: = CITY OF PALM SPRINGS;'- ALIFORNIA
�9s-�istant Secretary Chairman '/
REVIEWED & APPROVED
1
RESOLUTION NO. 463
EXHIBIT
BIT A
Maturity Principal Interest
(March 1 Amount Rate
1988 1300,100 4.25Y
' 1989 300,000 4. 75
199090 300,000 5.00
1991 325,000 5.25
1992 325,000 5.50
1993 350,000 5.75
1994 350,000 5.90
1995 375,000 6.00
1996 400,000 6.20
1997 425,000 6.30
1998 450,000 6.50
1999 475,000 6.60
2000 515,000 6.70
2001 550,000 6.70
2008 5,250,000 6.75
1
-4-
RESOLUTION NO. 464
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
AUTHORIZING THE ACQUISITION OF CERTAIN
REAL PROPERTY AT 1447 NORTH PALM CANYON '
DRIVE KNOWN AS THE CASA DEL CAMINO
HOTEL IN SECTION 10 IN THE NORTH PALM
CANYON REDEVELOPMENT PROJECT (PA ,96) .
WHEREAS the City Council has designated itself as a Community Redevelopment
Agency and taken the necessary action in accordance with State Law to initiate
a redevelopment program in the North Palm Canyon Project Area; and
WHEREAS the Redevelopment Agency of the City of Palm Springs has determined
that the acquisition of real property within the North Palm Canyon Project
Area, known as the Casa del Camino Hotel at 1447 North Palm Canyon Drive
in Seci;ion 10, for the purpose of future redevelopment is in conformance
with and forwards the implementation of the Redevelopment Plan;
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs as follows:
Section 1. The Executive Director of the Agency is authorized to offer
and acquire the Casa del Camino Hotel from the property owner
in accordance with all applicable laws.
Section 2. The offer shall be for Five Hundred and Seventy-Five Thousand ,
Dollars ($575,000) .
Section 3. The Executive Director shall accept the deed on behalf of the
Community Redevelopment Agency.
Section 4. The City Clerk shall record the deed with the County Recorder.
ADOPTED this 1st day of April 1987.
AYES: Members Apfelbaum, Birer, Foster and Smith
NOES: None
ABSENT: Chairman Bogert
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
(� CITY OF PALM SPRINGS, CALIFOR IA
s�Secretary Chairmn
REVIEWED AND APPROVED:__] ___ —
RESOLUTION NO. 465
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRING, CALIFORNIA,
AMENDING THE BUDGET FOR THE 1986-87 FISCAL YEAR.
WHEREAS Resolution 4..31 approving the budget for the fiscal year
1986-87 was adopted on June 18, 1986; and
WHEREAS the Executive Director has recommended, and the Community Redevelop-
menu Agency desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized
to record inter-fund cash transfers as required in accordance with
this Resolution, and that Resolution 431 adopting the budget for
the 1986-87 fiscal year is hereby amended as follows:
SECTION 1 . ADDITIONS
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 816 0185 4501 4651 $115,000
Title: North Pala - Land Casa del
Canyon Acquisition Camino
Purpose: To fund down payment for purchase of Casa del Camino Hotel ,
funds available due to delay in start of Patel Hotel and subsequent
reduction in assistance to that project based on Participation Agreement.
SECTION 2. SOURCE
�e
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 81.6 0185 4356 8509 $115,000
Vitle: North Palau - Construction Patel
Canyon Contracts Hotel
Adopted this 1st day of April , 1987 .
AYES: Members Apfelbaum, Birer, Foster and Smith
NOES: None
ABSENT: Chairman Bogert
1 COMMUNITY REDEVELOPMENT AGENCY
ATTEST: CITY OF PALM SPRINGS,.-Ci1Lj'FORN IA
yl-
si'stant Secretary ._____ ���hai rman
REVIEWED & APPROVED/ L
RESOLUTION NO. 466
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
AUTHORIZING THE LEASE OF CERTAIN REAL
PROPERTY KNOWN AS THE CASA DEL CAMiNO
HOTEL AT 1447 NORTH PALM CANYON DRIVE
TO MR. TED HOLMQUIST (PA #6) .
WHEREAS the City Council has designated itself as a Community Redevelopment
Agency and taken the necessary action in accordance with State Law to initiate
a redevelopment program in the North Palm Canyon Project Area; and
14HEREAS the Community Redevelopment Agency, by Resolution No. 464 has
authorized staff to begin acquisition of certain property in Section 10
known as the Casa del Camino Hotel ; and
WHEREAS Mr. Ted Holmquist has agreed to enter into a lease on said property;
N014 THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs as follows:
Section 1. The Executive Director of the Agency is authorized to enter
into a lease with Mr. Ted Holmquist for property known as the
Casa del Camino at 1447 North Palm Canyon Drive.
Section 2. The lease amount shall be Thirty-Five Thousand Dollars ($35,000) '
per year.
Section 3. The lease term shall be for four years.
Section 4 . The lessee shall be required to expend a minimum of $50,000
towards the remodeling and renovation of the property.
Section 5. The lessee shall be responsible for all property taxes on the
property.
Section 6. The lease shall include provisions for early termination subject
to a payment of an amount, not to exceed $20,000 per year in
advance that the lease is terminated.
ADOPTED this 1st day of _ Apt�� _ 1987.
AYES: Members Apfelbaum, +Direr, Foster and Smith
NOES: None
ABSENT: Chairman Bogert
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, 'CAtIFORNIA
B I �_As s i s-tan --GhO rman
REVIEWED AND APPROVED: A _
RESOLUTION N0, 467
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA.,
FINDING THAT IT IS NECESSARY TO DEPOSIT
LESS THAN THE AMOUNT REQUIRED BY STATUTE
TO BE DEPOSITED INTO THE HOUSING FUND
FOR THE CENTRAL BUSiNESS DISTRICT
(PA #1).
WHEREAS, prior to January 1, 1977, the City Council of the City of Palm
Springs (the `City") adopted the Redevelopment Plan for the Central 'Business
District Redevelopment Project ('the "Project") ; and
WHEREAS, pursuant to Section 33334.6(c) of the California Community Redevelop-
ment Law (Health and Safety Code Section 33000 et sue. ) (all references
are to the Health and Safety Code unless otherwise specified) , the Community
Redevelopment Agency of the City of Palm Springs (the "Agency") is required
to deposit into a low- and moderate-income housing fund (the "Housing Fund")
not less than twenty percent (20%) of the taxes allocated to the Agency
from the Project pursuant to Section 33670 of the California Community
Redevelopment Law (the "Tax increments") 'for the 1985-86 fiscal year and
for each succeeding fiscal year thereafter; and
WHEREAS, Section 33334.6(d) provides that in any fiscal year the Agency
may deposit less than the amount required to be deposited into the Housing
Fund by Section 33334.6(c) if the Agmcy finds that the difference between
the amount actually deposited and the amount required to be deposited is
necessary to make payments under existing obligations of amounts due or
required to be committed, setaside or reserved by the Agency during that
fiscal year and which are used by the Agency for that purpose; and
WHEREAS, Section 33334.6(e) provides that in each fiscal year prior to July
1 , 1996, the Agency may deposit less than the amount required to be deposited
into the Housing Fund by Sections 33334.6(c) and 33334.6(d) if the Agency
-finds that the deposit of less than the amount required to be deposited
by those Sections is necessary to provide for the orderly and timely comple-
tion of public and private projects, programs or activities approved by
the Agency prior to January 1, i.986; and
WHEREAS, pursuant to Section 33334.6(f) , if the Agency deposits less than
twenty percent (20%) of the Tar, Increments -into the Housing Fund pursuant
to Sections 33334.6(d) and/or 33334.6(e) , the Agency is required to adopt,
prior to September 1, 1986, by resolution, after a noticed public hearing,
a statement of existing obligations and/or a statement of existing programs,
as applicable, and
WHEREAS, by Resolution No. 393, adopted pursuant to Section 33334.6(f) on
February 5, 1986, the Agency approved and adopted the "Statement of Existing
Obligations of the Central Business District Redevelopment Project" and
the "Statement of Existing Programs Within the Central Business District
Redevelopment Project" ;
RESOLUTION NO. 467
NOW, THEREFORE, the Community Redevelopment Agency of the City of Palm Springs
does hereby resolve that the Agency hereby 'finds and determines that -tor
the 1986-87 fiscal year of the Agency it is necessary to deposit less than
'the amount required to be deposited into the Housing Fund by Section
33334.6(c) in order to: (a) make payments under existing obligations as
the same are set forth in the Agency's approved "Statement of Existing Obliga-
tions of -the Central Business District Redevelopment Project" ; and (b) provide
for the orderly and timely completion oa° public and private projects, programs
and activities as the same are set forth in the Agency's approved "Statement
of Existing Programs Within the Central Business District Redevelopment
Project".
ADOPTED this ` Ist W day of ___April 1987.
AYES: Members Apfelbaum, Birer, Foster and Smith
NOES: None
ABSENT: Chairman Bogert
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
1�s istant Secretary ChaII
REVIEWED AND APPROVED:`�id ,��' ��_—
RESOLUTION NO. 468
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS,
APPROVING AND AUTHORIZING THE EXECUTION OF A SUBLEASE AGREEMENT
RELATING TO THE CONVENTION CENTER FACILITIES AND OTHER LEGAL
DOCUMENTS WITH RESPECT TO THE 1987 REFUNDING CERTIFICATES OF
PARTICIPATION (CONVENTION CENTER PROJECT) ,
WHEREAS, on November 5, 1984 , the City Council ( the
"City Council" ) of the City of Palm Springs ( the "City" ) , adopted
a Resolution entitled "RESOLUTION AUTHORIZING DELIVERY OF THE
CITY OF PALM SPRINGS CERTIFICATES OF PARTICIPATION (CONVENTION
CENTER PROJECT) FOR THE PURPOSE OF FINANCING THE ACQUISITION AND
DEVELOPMENT OF A CONVENTION CENTER FACILITY (THE "PROJECT" ) AND
AUTHORIZING THE EXECUTION AND DELIVERY OF VARIOUS DOCUMENTS
PERTAINING TO THE PROJECT; and
WHEREAS, $36 ,670,000 aggregate principal amount of
Certificates of Participation (Convention Center Project ( the
"Certificates of Participation" ) were sold and delivered on
November 5, 1984; and
WHEREAS, on December 31, 1984 , the City Council adopted
a Resolution entitled, "RESOLUTION APPROVING THE FORM OF AN
AMENDED AND RESTATED TRUST AGREEMENT, DATED AS OF NOVEMBER 1,
1984 , BY AND AMONG FIRST INTERSTATE BANK OF CALIFORNIA, THE CITY
OF PALM SPRINGS AND SENCA PALM SPRINGS, INC. ; AUTHORIZING THE
EXECUTION THEREOF; AMENDING A CERTAIN RESOLUTION OF THE CITY OF
' PALM SPRINGS ADOPTED ON NOVEMBER 1, 1984 ; AND PROVIDING AN
EFFECTIVE DATE" ; and
WHEREAS, on March 28, 1985, the City Council adopted a
Resolution entitled, "RESOLUTION APPROVING THE FORM OF A SECOND
AMENDED AND RESTATED TRUST AGREEMENT, DATED AS OF NOVEMBER 1 ,
1984 , BY AND AMONG FIRST INTERSTATE BANK OF CALIFORNIA, THE CITY
OF PALM SPRINGS AND SENCA PALM SPRINGS, INC. ; �APPROVING THE FORM
OF AN AMENDED AND RESTATED INSTALLMENT SALE AGREEMENT, DATED AS
OF NOVEMBER 1, 1984, BY AND BETWEEN SENCA PALM SPRINGS, INC. AND
THE CITY OF PALM SPRINGS; AUTHORIZING THE EXECUTION THEREOF;
APPROVING THE FORM OF AN AMENDED AND RESTATED DEVELOPMENT
AGREEMENT, DATED AS OF DECEMBER 31, 1984, BY AND BETWEEN THE CITY
OF PALM SPRINGS AND EACH OF ELEVEN LIMITED PARTNERSHIPS; AMENDING
A CERTAIN RESOLUTION OF THE CITY OF PALM SPRINGS ADOPTED ON
DECEMBER 31, 1984; APPROVING THE OFFICIAL STATEMENT AND RATIFYING
THE USE OF THE PRELIMINARY OFFICIAL STATEMENT RELATING TO THE
REMARKETING OF THE CERTIFICATES OF PARTICIPATION (CONVENTION
CENTER PROJECT) ; APPOINTING A PAYING AGENT WITH RESPECT TO SAID
CERTIFICATES; AUTHORIZING THE REMARKETING OF SAID CERTIFICATES;
ACCEPTING THE RESIGNATION OF A REMARKETING AGENT AND WAIVING A
RESOLUTION NO. 468
THIRTY DAY NOTICE PERIOD IN CONNECTION THEREWITH; AUTHORIZING
OFFICIALS OF THE CITY TO TAKE ANY AND ALL ACTION NECESSARY IN
CONNECTION WITH THE REMARKETING OF SAID CERTIFICATES; RATIFYING,
CONFIRMING AND APPROVING ALL ACTIONS HERETOFORE TAKEN IN
CONNECTION WITH SAID CERTIFICATES; AND PROVIDING AN EFFECTIVE
DATE; and
WHEREAS, the aforementioned Certificates of
Participation were redeemed on December 31, 1985 in accordance
with she terms of the Second Amended and Restated Trust
Agreement; and
WHEREAS, on December 18, 1985 the City Council adopted a
Resolution, entitled A RESOLUTION ,OF THE CITY OF PALM SPRINGS
APPROVING AND AUTHORIZING THE EXECUTION OF SUBLEASE AGREEMENT
RELATING TO CONVENTION CENTER FACILITIES AND OTHER LEGAL
DOCUMENTS WITH RESPECT THERETO, pursuant to which the 1985
Certificates of Participation (Convention Center Project) ( the
"1985 Certificates" ) were issued in an aggregate principal amount
of $35 , 000,000 , the proceeds of which were used to replace the
proceeds of the Certificates of Participation authorized, sold
and delivered on November 5, 1984 , which were not expended on the
Project for which such Certificates of Participation were issued.
WHEREAS, the City Council, has determined that the 19B7
Refunding Certificates of Participation (Convention Center
Project) ( the "1987 Certificates" ) be issued in an aggregate
principal amount not to exceed $41,100 , 000 dollars, the proceeds
of which are to be deposited with the Trustee of the 1985
Certificates to pay and discharge the 1985 Certificates. '
BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS THAT:
Section 1 . The form of the Trust Agreement Relating to
Convention Center Facilities ( the "Trust Agreement" ) , dated as of
May 1 , 1987, by and among First Interstate Bank of California , as
Trustee' ( the "Trustee" ) , the City of Palm Springs ( "City" ) and
the City of Palm Springs Public Facilities Corporation ( "Agency" )
submitted herewith is hereby approved and the Chairman or Executive
Director and other appropriate officialsof Agency are hereby
authorized and directed to execute, acknowledge and deliver , in
the name and on behalf ofAoency, the Trust Agreement, with such
c"anges therein not inconsistent with this resolution and not
:uostantially adverseto Agency, as may be permitted under the laws
the State and approved by the Chairman or Executive Director or any
r•.ner officers executing the same on behalf of Agency. The
nr, oroval of such changes by said Chairman or Executive Director or other
icers , and that such are not substantially adverse to Agency,
- 2 -
RESOLUTION NO. 468
shall be conclusively evidenced by the execution of such Trust
Agreement .
Section 2 . The form of the Sublease Agreement Relating
to Convention Center Facilities, dated as of May 1, 1987, by and
between Agency, as Lessor , and City, as Lessee (the "Sublease
Agreement" ) submitted herewith is hereby approved and the Chairman
or ExecutiveDirectoranci other appropriate officials of Agency are
hereby authorized and directed to execute, acknowledge and
deliver , in the, name and on behalf of Agency, the Sublease
Agreement, with such changes therein not inconsistent with this
resolution and not substantially adverse tothe Agency as may be
permitted under the laws of the State and approved by theChairman or
Executive Director or any other officers executing the same on
behalf of Agency. The approval of such changes by said Chairman or
Executive Director or other officers, and that such are not
substantially adverse to Agency shall be conclusively evidenced by
the execution of such Sublease Agreement.
Section 3 . The form of the Assignment Agreement
Relating to Convention Center Facilities, dated as of May 1 ,
1987, by and among the Trustee, City, and Agency ( the "Assignment
Agreement" ) submitted herewith is hereby approved and the Chairman or
Executive Director and other appropriate officials of Agency.are
hereby authorized and directed to execute, acknowledge and
deliver, in the name and on behalf of Agency, the Assignment
Agreement, with such changes therein not inconsistent with this
resolution and not substantially adverse toAgencyas may be
permitted under the laws of the State and approved by theChairman or
Executive Director or any other officer , and that such are not
substantially adverse to Agency shall be conclusively evidenced by
the execution of such Assignment Agreement.
Section 4 . The form of the Agency Agreement Relating to
Construction of Convention Center Facilities, dated as of May 1 ,
1987, by and between City and Agency ( the "Agency Agreement" ) ,
submitted herewith is hereby approved and the Chairman or Executive
Director and other appropriate officials of Agency are hereby
authorized and directed to execute, acknowledge and deliver , in
the name and on behalf of Agency, the Agency Agreement, with such
changes therein not inconsistent with this resolution and not
substantially adverse to Agency as may be permitted under the laws
of the State and approved by theChairman or Executive Director or any
other officers executing the same on behalf of Agency. The
approval of such changes by said Chairman or Executive Director or other
officers , and that such are not substantially adverse to Agency
shall be conclusively evidenced by the execution of such Agency
Agreement.
3 —
I
I
RESOLUTION NO. 468
Section 5 . The form of Escrow Deposit Agreement, dated
as of May 1, 1987, by and between First Interstate Bank of
California as Escrow Agent , Agency and City, submitted herewith,
be and is hereby approved in substantially the form presented to
this meeting, or with such changes as may be approved by the Chairman
or Executive Director or any other officers executing the same,
said officer ' s execution thereof to constitute conclusive '
evidence of said officer ' s approval of all. changes from the form
presented to this meeting, and each of said officers be and is
hereby authorized to execute and deliver said Agreement.
s
Section 6. The form of Purchase Agreement relating to
the purchase of certificates of participation by BankAmerica
Capital Markets Group (Bank of America NT&SA) from First
Interstate Bank of California, dated on April , 1987,
submitted herewith, be and is hereby approved in substantially
the form presented to this meeting , or with such changes
( including the purchase price of the Certificates) as may be
approvedby Chairman or Executive Director or any other officers
executing the same on behalf of Agency, said officer ' s execution
thereof to constitute conclusive evidence of said officer ' s
approval of all changes from the form presented to this meeting ,
and each of said officers be and is hereby authorized to execute
and deliver said Agreement and to ' insert in each of the aforesaid
Agreements the dollar amount which reflects the provisions of
said Purchase Agreement.
Section 7 . The Preliminary Official Statement , in the
form attached hereto, and the distribution thereof are hereby
ratified, confirmed and approved. , A final Official Statement
shall be prepared and is hereby approved for use with respect to '
the marketing of the Certificates and shall be substantially in
the form of the Preliminary Official Statement , with such
changes, modifications, insertions and deletions as may be
approved by special counsel to Agency and the Chairman or Executive Director
is hereby authorized and directed to execute the same .
Section B. The Chairman or 'Executive Rirectvror any other
appropriate officersof Agency are further authorized and directed
to execute such certifications, financing statements, assignments
and instruments as are, in the opinion of special counsel,
necessary or appropriate to perfect the assignments set forth in
the Trust Agreement and to consummate the transactions
contemplated by this Resolution and provided for in the
aforementioned documents .
Section 9 . It is found and determined that all formal
actions of Agency concerning and relating to the adoption of this
Resolution were adopted in an open meeting of the Redevelopment Agency
and that all deliberationsof the Redevelopment Agencyand of any of its
4 -
RESOLUTION NO. 468
committees that resulted in these formal actions, were in
meetings open to the public in compliance with all legal
requirements.
Section 10. All actions heretofore taken by Agency or any
of its officials, officers or employees in connection witn the
sale and delivery or remarketing of the Certificates are hereby
ratified, confirmed and approved.
Section 11. Prior Resolutions. Any resolutions of the Redevel-
opment Agency adopted prior to this resolution are, to the extent
they are inconsistent or conflict with this resolution, hereby
repealed and rescinded.
Section 12 . This resolution shall take effect and be in
force immediately upon its adoption.
ADOPTED this 7th day of April , 1987 .
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, ,,GNLITORNIA
K; Assistant Secretary ^ Chair 6 n
' REVIEWED AND APPROVED:
- 5 -
032687
1172r:TBH
RESOLUTION NO. 469
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
AUTHORIZING THE EXECUTION OF A REIMBURSE-
MENT AND REPAYMENT AGREEMENT WITH THE
CITY OF PALM SPRINGS RELATING TO THE
PALM SPRINGS TAHQUITZ-ANDREAS DISTRICT
REDEVELOPMENT PROJECT
WHEREAS, the City Council of the City of Palm Springs
has adopted a certain Redevelopment Plan (the "Redevelopment
Plan") for a redevelopment project known as the Palm
Springs Tahquitz-Andreas District Redevelopment Project
(the "Project") , by Ordinance No. 1187 on :July 19 , 1983; and
WHEREAS , the Community Redevelopment Agency of the
City of Palm Springs (the "Agency") is vested with the
responsibility to undertake and carry out the Project under
the provisions of the California Community Redevelopment
Law (Section 33000 et seq. of the Health and Safety Code) ;
and
WHEREAS, pursuant to and in implementation of the
Redevelopment Plan, the City and the Agency have entered
into an Amended and Restated Development Agreement (the '
"Development Agreement") with Hotel and Convention Center
Partners I , Ltd. , a California limited partnership (the
"Developer") and Shale Energy Corporation of America, a
Texas corporation ("SENCA") , dated December 31, 1984,
pursuant to which the Developer has constructed a hotel on
real property located within the Project Area, the City has
constructed a convention center facility (thee "Convention
Center") on adjacent real property also within the Project
Area, and the Agency has agreed to pay for the cost of
construction of such Convention Center; and
WHEREAS, pursuant to Section 33445 of the Community
Redevelopment Law, the Agency is authorized, with the
consent of the City Council, to pay all or part of the
value of the land for and the cost of the installation and
RESOLUTION NO. 469
construction of any building, facility, structure or other
improvement which i9publicly owned either within or without
the Project Area, upon a determination by the City Council
that such building, facility, structure or other
improvement is of benefit to the Project Area and that no
other reasonable means of financing such building,
facility, structure or other improvement is available to
the community ; and
WHEREAS, when the value of such land or the cost of
the installation and construction of such building ,
facility, structure or other improvement, or both, has been
or will be paid or provided for initially by the City, the
Agency may enter into a contract with the City under which
it agrees to reimburse the City for all or part of the
value of such land or all or part of the cost of such
building, facility, structure or other improvement, or
both, by periodic payments over a period of years; and
WHEREAS, the Agency is authorized to incur indebtedness
in carrying out the Project, to be repaid from and secured
by a pledge of the allocation of taxes to the Agency
pursuant to the provisions of Section 16 of Article XVI of
' the California Constitution and Sections 33670-33678 of the
Community Redevelopment Law (the "tax allocations") ; and
WHEREAS, Section 33679 of the Community Redevelopment
Law provides that before an agency commits to use a portion
of its tax allocations for the purpose of paying all or
part of the value of the land for, and the cost of the
installation of, any publicly owned building , the
legislative body shall hold a public hearing and prepare a
summary setting forth the amount of taxes proposed to be
used for paying for the costs of the publicly owned
building, the facts supporting the determinations required
by Section 33445 of the Community Redevelopment Law and the
redevelopment purpose for which the taxes are being used to
pay for the land and construction of such publicly owned
building ; and
-2-
RESOLUTION NO. 469
WHEREAS, the Agency prepared the summary required by
Section 33679 of the Community Redevelopment Law, and said
summary was made available to the public for inspection; and
WHEREAS , the City Council held the public hearing
required by Section 33679 of the Community Redevelopment
Law on October 10, 1904 , and made the determinations
required by Section 33445 of the Community Redevelopment
Law„ and
WHEREAS, in furtherance of the Redevelopment Plan and
in implementation of the Development Agreement_, the City
and Agency desire to enter into a Reimbursement and
Repayment Agreement pursuant to which the Agency will pay
and reimburse the City for costs incurred for the
construction of the Convention Center;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS , AS
FOLLOWS :
Section 1. The Agency hereby approves the
Reimbursement and Repayment Agreement with the City,
substantially in the form presented with this resolution,
and the Chairman and the Secretary are hereby authorized to
execute said Agreement on behalf of the Agency. '
PASSED AND ADOPTED this 15th day of _April
19 67.
AYES : Members B'irer, Foster, Smith and Chairman Bogert
NOES : None
ABSENT: Member Apfelbaum
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALLFQRNIA
By
Assistant Secretary Chainma-n
REVIEWED AND APPROVED:
RESOLUTION N0. 470
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
AUTHORIZING AN INCREASE IN THE CONTRACT
AMOUNT FOR TKD ASSOCIATES FOR LANDSCAPE
DESIGN SERVICES RELATING TO THE ANDREAS
ROAD WALKWAY TO AN AMOUNT NOT TO EXCEED
$15,000.
WHEREAS the Agency on September 3, 1986, adopted a contract with TKD
Associates in the amount of $7,500 for design services on the Andreas Road
Walkway; and
WHEREAS additional work is needed to finalize the design of that section
of the walkway adjacent to the cultural center site;
NOW THEREFORE be is resolved by the Community Redevelopment Agency of the
City of Palm Springs that the contract amount be increased to an amount
not to exceed $15,000.
ADOPTED this 15th day of April 1987.
AYES: Members Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: Member Apfelbaum
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
Assistant Secretary Cha.0'man
REVIEWED AND APPROVED:__ C
RESOLUTION NO. 471
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING THE PAYMENT OF $10,208 TO
THE HORWITCH GALLERIES FOR THE INSTALLA-
TION OF SPECIAL SIDEWALKS (PA #6) .
WHEREAS the North Palm Canyon Project Area has previously approved of the
assistance to the Horwitch Galleries as an incentive for the installation
of decorative pavement; and
WHEREAS the gallery and sidewalk improvements have been completed and
represent a significant enhancement to the project area;
NOW THEREFORE be it resolved that the Community Redevelopment Agency of
the City of Palm Springs approves the payment of $10,208 to the Horwitch
Galleries.
ADOPTED this 15th day of April 1987.
AYES: Members Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: Member Apfelbaum
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIIAA' t
J t
By
Assistant Secretary Chairman'--
REVIEWED AND APPROVED:____14t _
RESOLUTION NO. 472
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
REPAYING $2,880,100 IN LOANS TO THE
GENERAL FUND.
WHEREAS the Community Redevelopment Agency of the City of Palm Springs,
California, has previously obtained loans from the General Fund to provide
monies for various redevelopment projects; and
WHEREAS the Community Redevelopment Agency now requests to repay a portion
of these loans in order to reduce the amount of its indebtedness in the
Tahquitz-Andreas Redevelopment Project Area;
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs, California, as follows:
SECTION 1. Directs $2,880,100 in repayment of loans from the Community
Redevelopment Agency to the General Fund.
SECTION 2. That proceeds of the repayment are to be used to reduce the
principle of the $355,000 loan from the General Fund, approved
by Resolution No. 278 on December 11, 1984, to $150,000 and
fully repay the $2,003,750 loan, approved by Resolution No. 297
on December 31, 1984, and the $671,350 loan, approved by Resolu-
tion No. 299 on December 31, 1984.
' ADOPTED this 20th day of May 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
! __ Assistant Secretary Chairman
REVIEWED AND APPROVED: leu-
RESOLUTION NO. 473
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING THE CONSOLIDATION OF $515,000
IN LOANS FROM THE GENERAL FUND TO THE
TAHQUITZ-ANDREAS PROJECT AREA INTO
A SINGLE LOAN (PA #2) .
WHEREAS the City Council has previously approved loans from the General
Fund to the Tahquitz-Andreas Project Area for various purposes; and
WHEREAS the consolidation of these loans, into a single loan would simplify
the accounting for the project area;
NOW THEREFORE BE IT RESOLVED that the , Community Redevelopment Agency of
the City of Palm Springs, California, does hereby approve the consolidation
into a single loan of $515,000, from the General Fund to the Community
Redevelopment Agency of the City of Palm Springs and at 7% interest compounded
annually, the following loans: 1) the $50,000 loan approved by Resolution
No. 247 on September 17, 1984; 2) the $150,000 balance of the $600,000
loan approved by Resolution No. 278 on December 11, 1984 ; 3) the $230,000
loan approved by Resolution No. 377 on December 18, 1985; and 4) the $85,000
loan approved by Resolution No. 422 on, April 16, 1986. This allocation
shall be a loan to the Agency and shall, constitute an indebtedness of the
Agency, within the meaning of Division 24 of the Health and Safety Code,
Article 6, Chapter 6, of the California Redevelopment Law, and repayable '
when tax increment from the redevelopment project warrants.
ADOPTED this 20th day of _ May , 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS CALIFORNIA
By� j- - �T,as/
'�%A hTssistant Secretary rman
REVIEWED AND APPROVED:
RESOLUTION NO. 474
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRING, CALIFORNIA,
AMENDING THE BUDGET FOR THE 1986-87 FISCAL YEAR.
WHEREAS Resolution 431 approving the budget for the fiscal year
1986-87 was adopted on June 18, 1986; and
WHEREAS the Executive Director has recommended, and the Community Redevelop-
ment Agency desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized
to record inter-fund cash transfers as required in accordance with
this Resolution, and that Resolution 431 adopting the budget for
the 1986-87 fiscal year is hereby amended as follows:
SECTION 1 . ADDITIONS
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 111 301 $2,880,100
Title:
General Fund Fund Balance
' Purpose: To repay portion of loans to Tahquitz-Andreas Project Area
for Convention Center.
SECTION 2. SOURCE
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 812 301 $2,880,100
Title:
Tahquitz-Andreas Fund Balance
Adopted this 20th day of May 1987 .
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
COMMUNITY REDEVELOPMENT AGENCY
ATTEST CITY OF PALM SPRING%tIFORNIA
Assistant Secretary � C —ai anon �
REVIEWED & APPROVED _ _�'
RESOLUTION NO. 475
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
ADOPTING A POLICY FOR THE USE OF HOUSING
SET ASIDE FUNDS.
WHEREAS State Redevelopment Law requires the Agency toset aside funds from
certain redevelopment areas in the City for use in increasing and improving
the Community's supply of low and moderate income housing; and
WHEREAS the Agency now generates a substantial amount of said funds;
NOW THEREFORE be it resolved that the Agency adopts a HousingSet Aside Policy,
hereby attached as Exhibit "A".
ADOPTED this 20th day of May , 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINNG,SS,, CALI,FO/RNIABy
r�
�j,/Assistant Secretary Chairma '
REVIEWED AND APPROVED:—k1 -&1✓
M JULUIlUIY IVU. 4/5 LAnibil H
12. Housing Setaside Policy: Implement an overall policy for the allocation
of housing setaside funds consistent with housing and redevelopment
objectives. The policy priorities for these funds are as follows, in
order of importance (Note: These items are also identified in the work
program for the Community Development Department Economic Development
and Housing Division; funding for individual programs may come from
either one or both of the department budgets) . Items marked with
are eligible Block Grant expenditures.
*a. Relocation: relocate residential tenants from Agency-assisted
projects, including provision of benefits prescribed by State
Redevelopment Law.
*b. Replacement Housing: stimulate the construction of new low and
moderate income housing to replace units removed as part of
Agency-assisted projects within four years as required by State
Redevelopment Law; current requirements are for 13 units by 1988
and 29 units by 1991.
*c. Infill Housing: stimulate the construction of new low and moderate
income single family and duplex units on scattered lots in the
Desert Highland Tract.
d. Target Neighborhood Program: provide matching grants for the visual
improvement (i .e. , painting, landscaping, etc. ) of tenant and owner
occupied housing in target neighborhoods to upgrade image of those
areas.
*e. New Housing: stimulate the construction of new low and moderate
income housing to meet the needs of commercial and hotel growth
in the City.
*f. Shelter Homes: support the efforts of non-profit groups to establish
shelter homes to meet the need of lower income persons with special
' needs; consider contribution to capital and operational costs for
shelters.
*g. Tenant Rehabilitation: encourage the rehabilitation of apartment
units to maintain and improve the City's supply of lower income
rental units.
*h. Grant Rehabilitation Program: provide grants for minor repairs
of low income senior units citywide.
*i. Single Family Rehabilitation: provide low interest loans to low
income households for the rehabilitation of owner-occupied single
family residences.
*j. Street Improvements: assist in the upgrading of existing low and
moderate income neighborhoods through the provision of pavement,
curb, and sidewalk improvements in conjuction with assessment
districts created by property owners in the areas.
i
RESOLUTION NO. 475
*k. Fair Housing: provide services to encourage fair housing and
monitor/discourage housing discrimination.
1 . Housing Compliance: monitor agreements requiring sales price and
rental controls to ensure on-going affordability of Agency/City
assisted housing projects.
m. Bond Financing: work with developers to encourage the provisions
of affordable housing through the use of tax-exempt financing; monitor
on-going affordability of bond-assisted projects.
i
RESOLUTION NO. 476
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING A DISPOSITION AND DEVELOPMENT
AGREEMENT WITH THE LUTHER COMPANY LIMITED
PARTNERSHIP FOR PARCEL #2 IN THE AUTO
SALES CENTER (PA #4) .
WHEREAS the Agency has previously consented to the sale of Parcel #2 to
the Luther Company Partnership; and
WHEREAS the proposed disposition and development agreement conforms to the
financial and development parameters previously approved by the Agency;
NOW THEREFORE the Community Redevelopment Agency of the City of Palm Springs,
California, resolves to authorize the Executive Director to execute the
disposition and development agreement, which is on file in the office of
the City Clerk, for the sale of Parcel #2 in the Auto Sales Center to the
Luther Company Limited Partnership.
ADOPTED this _ 20th day of _ May 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS,. LIFORNIA
i
�By� ca
`--Assistant Secretary Chai,rman
REVIEWED AND APPROVED: �� _37-
RESOLUTION NO. 477
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING THE CONSOLIDATION OF $921,987
IN LOANS FROM THE GENERAL FUND TO THE
CENTRAL BUSINESS DISTRICT PROJECT AREA
INTO A SINGLE LOAN (PA #1) .
WHEREAS the Community Redevelopment Agency has previously accepted loans
from the General Fund to the Central Business District Project Area for
various purposes; and
WHEREAS the consolidation of these loans into a single loan would simplify
the accounting for the project area;
NOW THEREFORE BE IT RESOLVED that the Community Redevelopment Agency of
the City of Palm Springs, California, does hereby approve the consolidation
into a single loan of $921,987, from the General Fund to the Community
Redevelopment Agency of the City of Palm Springs and at 9% interest compounded
annually, the following loans: 1) the $221,000 loan approved by Resolution
No. 34 on January 2, 1975; 2) the $50,000 loan approved by Resolution No.
52 on November 17, 1976; 3) the $163,014 loan approved in April , 1981;
4) the $70,000 loan approved by Resolution No. 115 on February 3, 1982;
and the $313,600 balance of the $500,000 loan approved by Resolution No.
202 on February 28, 1984. This allocation shall be a loan to the Agency
and shall constitute an indebtedness of the Agency, within the meaning of
division 24 of the Health and Safety code, Article 6, Chapter 6, of the
California Redevelopment Law, and repayable when tax -increment from the
redevelopment project warrants.
ADOPTED this 3rd day of June 1987
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORN.I;A
r�
(✓ :Assistant Secretary CPia'i;rman
REVIEWED AND APPROVE D:_�L� 5z — _
RESOLUTION NO. 478
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING THE CONSOLIDATION OF $801,864
IN LOANS FROM THE PARKING FUND TO THE
CENTRAL BUSINESS DISTRICT PROJECT AREA
INTO A SINGLE LOAN (PA #1).
WHEREAS the Community Redevelopment Agency has previously accepted loans
from the Parking Fund to the Central Business District Project Area for
various purposes; and
WHEREAS the consolidation of these loans into a single loan would simplify
the accounting for the project area;
NOW THEREFORE BE IT RESOLVED that the Community Redevelopment Agency of
the City of Palm Springs, California, does hereby approve the consolidation
into a single loan of $801,864, from the Parking Fund to the Community
Redevelopment Agency of the City of Palm Springs and at 9% interest compounded
annually, the following loans: 1) the $360,500 loan approved in September,
1979; and 2) the $278,741 loan approved in April , 1981. This allocation
shall be a loan to the Agency and shall constitute an indebtedness of the
Agency, within the meaning of division 24 of the Health and Safety code,
Article 6, Chapter 6, of the California Redevelopment Law, and repayable
' when tax increment from the redevelopment project warrants.
ADOPTED this 3rd day of June , 1987
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CAL—IFORNIA
Assistant Secretary Charman
ti
REVIEWED AND APPROVED:
r
RESOLUTION NO. 479
OF THE COMMUNITY REDEVELOPMENT AGENCY CIF THE
CITY OF PALM SPRINGS, CALIFORNIA, APPROVING
CONTINUING APPROPRIATIONS FROM THE 1986-87 '
FISCAL YEAR TO THE 1987-88 FISCAL YEAR.
WHEREAS the Community Redevelopment Agency of the City of Palm Springs
has adopted a budget for the 1986-87 fiscal year; and
WHEREAS certain projects budgeted in the 1986-87 -fiscal year budget
have been started but not completed; and
WHEREAS the unencumbered balances of those certain appropriations
are necessary for completion of the projects;
NOW THEREFORE BE IT RESOLVED that the Community Redevelopment Agency
of the City of Palm Springs hereby authorizes the carrying forward
to the nearest dollar, as continuing appropriations into the 1987-88
fiscal year, the unencumbered balances as of June 30, 1987 of the
following accounts:
ACCOUNT NO. ACCOUNT TITLE
811-0180-4356-4599 Bus Station Relocation
811-0180-4356-4649 Vineyard Parking Lot ,
811-0180-4356-8503 Street Furniture Continue only $15,000
811-0180-4356-8505 Fashion Plaza Offsites Continue only $125,000
814-0183-4356-8506 Auto Sales Center Continue only $152,500
881-0870-4356-4598 Highlend Gateway
881-0870-4356-8501 Renaissance Hotel
ADOPTED this 17th day of June , 1987.
AYES: Members Apfelbaum, Birer, Smith and Chairman Bogert
NOES: None
ABSENT: Member Foster
ATTEST: COMMUNITY REDEVELOPMENLAfiENCY
OF THE CITY OF PAALL.-SP&I GS
By
Assi'st-E(nt Secretary Chair# n
REVIEWED & APPROVED _
�c%f
RESOLUTION NO. 480 /
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
PALM SPRINGS, CALIFORNIA, APPROVING A BUDGET FOR THE 7
COMMUNITY REDEVELOPMENT AGENCY REDEVELOPMENT FUND FOR S "1
THE FISCAL YEAR 1987-88 5i o
S>>o
WHEREAS a budget for the fiscal year 1987-88 year has been prepared by
the Community Redevelopment Agency Redevelopment Director and the Agency
Treasurer; and Sal
WHEREAS the Community Redevelopment Agency has examined said budget and x
conferred with the Community Redevelopment Agency Director; and
WHEREAS the Community Redevelopment Agency, after due deliberation and
consideration, agrees with the budget recommended, including the Community
Redevelopment Agency Administrative Fund budget,
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of
the City of Palm Springs as follows:
Section 1 . That the budget in the amount of $5,386,420 be approved for the
following purposes:
Capital Project Debt Service
Central Business District $ 524,572 $1 ,057,727
Tahquitz Andreas 958,007 881 ,019
South Palm Canyon 179,880 2,888
Ramon Bogie 1 ,079,940 240,626
' Oasis 1 , 5 1 , 1
North Palm Canyon 74,37375 16,20201
Highland Gateway 51 ,235 4,603
Baristo Farrell 182,410 1 ,944
Project Area No. 9 87,348 0
Low & Moderate Income Housing 24,699 0
$3,163,701 $2,222,719
Section 2. That the Finance Director of the City of Palm Springs is
authorized to record the budget and such other accounting
entries as may be necessary for proper accounting treatment
in accordance with rules and regulations applicable to other
City of Palm Springs funds.
Section 3. That disbursement of funds from the Community Redevelopment
Agency Redevelopment Fund may be made without prior audit
or approval of the Community Redevelopment Agency, provided
it is in conformity with a properly adopted budget.
ADOPTED this 17th day of June 1987.
AYES: Members Apfelbaum, Birer, Smith and Chairman Bogert
NOES: None
' ABSENT: Member Foster
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF P SPRINGS
By
Assistant Secretary C-haieftn
REVIEWED & APPROVED
- � ma's-
RESOLUTION NO. 481
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
AUTHORIZING THE REIMBURSEMENT OF AN '
AMOUNT NOT TO EXCEED! $66,091.51 TO
THE EDWARD J. DEBARTOLO CORPORATION
FOR IMPROVEMENTS IN THE UTILITY CORRIDOR.
WHEREAS the Community Redevelopment Agency through the Participation Agreement
for the Desert Fashion Plaza Expansions has previously agreed to provide
certain offsite improvements; and
WHEREAS the Edward J. DeBartolo Corporation has agreed to construct these
public improvements; and
WHEREAS construction of said facilities by the Edward J. DeBartolo Corporation
has allowed for them to better coordinate work occurring on the project
site;
NOW THEREFORE, the Community Redevelopment Agency of the City of Palm Springs
does hereby resolve to authorize the reimbursement to the Edward J. DeBartolo
Corporation of an amount not to exceed $66,091. 51 for the installation of
electric utility relocation improvements in the utility corridor.
ADOPTED this 1st day of July , 1987. '
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALI RNIA
Assistant Secretary Chairman
REVIEWED AND APPROVED: t _i
1
RESOLUTION NO. 482
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY GF PALM SPRING, CALIFORNIA,
AMENDING THE BUDGET FOR THE 1987-88 FISCAL YEAR.
WHEREAS Resolution 480 approving the budget for the fiscal year
1987-88 was adopted on June 17, 1987 and
WHEREAS the Executive Director has recommended, and the Community Redevelop-
ment Agency desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized
to record inter-fund cash transfers as required in accordance with
this Resolution, and that Resolution 480 adopting the budget for
the 1987-88fiscal year is hereby amended as follows:
SECTION 1 . ADDITIONS
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
Na 901 0870 4800 $50,000
Operation Paintbrush
Title: Low & Moderate 4801 $125,000
Income Housing Self Help Housing
4802 $50,000/Con truction
r fining
Purpose: To fund specific capital projects for low and moderate
income housing.
SECTION 2. SOURCE
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 901 0870 301 $225,000
Title:
Low & Moderate Fund Balance
Income Housing
Adopted this lst day of July 19-8L.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
' COMMUNITY REDEVELOPMENT AGENCY
ATTEST: CITY OF PALM SPRINGS, CALIFORNIA
As-si'stant Secretary Ch�rman
REVIEWED 6 APPROVED
RESOLUTION NO. 483
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORN:IA,
AUTHORIZING THE FINANCING OF CERTAIN
REAL PROPERTY AT 1447 NORTH PALM CANYON
DRIVE KNOWN AS THE CASA DEL CAMINO
HOTEL IN SECTION 10 IN THE NORTH PALM
CANYON REDEVELOPMENT PROJECT (PA #6) .
WHEREAS the City Council has designated '',itself as a Community Redevelopment
Agency and taken the necessary action in accordance with State Law to initiate
a redevelopment program in the North Palm Canyon Project Area; and
WHEREAS the Redevelopment Agency of the City of Palm Springs has determined
that the acquisition of real property within the North Palm Canyon Project
Area, known as the Casa del Camino Hotel at 1447 North Palm Canyon Drive
in Section 10, for the purpose of future redevelopment is in conformance
with and forwards the implementation of the Redevelopment Plan; and
WHEREAS the Executive Director of the Agency was authorized to offer and
acquire the Casa del Camino Hotel from the property owner in accordance
with all applicable laws for Five Hundred and Seventy-Five Thousand Dollars
($575,000) ; and
WHEREAS the offer was accepted and the Executive Director accepted the deed
on behalf of the Community Redevelopment Agency, and the City Clerk recorded '
the deed with the County Recorder;
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs as follows:
SECTION 1. The Executive Director is authorized to provide an additional
cash payment of $265,000 for the property and provide a Note
to Sekhri Enterprises for $175,000 payable at 12% interest per
annum with a $75,000 principal reduction in one year from the
date of the Note and the balance due in two years from the date
of the Note with interest payable monthly.
SECTION 2. The source of the cash payment shall be from an account setaside
for the Patel Hotel and transferred to this project by Resolution
No. 465 and a Certificate of Deposit held by the Community
Redevelopment Agency.
ADOPTED this 1st day of July 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM :SPRINGS, CALIFORNIA '
By
',A-ssstant Secretary rman
REVIEWED AND APPROVED _____
a
RESOLUTION NO. 484
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING OWNER PARTICIPATION AGREEMENT
WITH THE CENTER BELARDO COMPANY TO
ACQUIRE AGENCY OWNED PROPERTY AT 395
NORTH PALM CANYON DRIVE IN THE CENTRAL
BUSINESS DISTRICT REDEVELOPMENT PROJECT
AREA TO DEVELOP A RESTAURANT/RETAIL
COMPLEX. (PA #I)
WHEREAS the Community Redevelopment Agency has acquired said property to
eliminate a non-conformance land use; and
WHEREAS the Participant owns adjacent land which is intended to be combined
with said parcel for the development of a retail restaurant complex;
NOW THEREFORE it is hereby resolved by the Community Redevelopment Agency
of the City of Palm Springs that the Executive Director of the Agency is
authorized to enter into a participation agreement, which is on file in
the office of the City Clerk, for certain real property located at 395 N.
Palm Canyon Drive to the Center Belardo Company in accordance with all appli-
cable laws.
ADOPTED this 5th day of Auflust , 1987.
' AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNI-A-.
Assistant Secretary Chair�n�
REVIEWED AND APPROVED: T
RESOLUTION NO. 485
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
ADOPTING GUIDELINES AND PRIORITY AREAS
FOR THE PROPERTY UPGRADE ASSISTANCE
PROGRAM.
WHEREAS the Redevelopment Agency seeks to encourage the image of certain
areas in or near the downtown area through inexpensive, small scale improve-
ments; and
WHEREAS the Agency has allocated for a Property Upgrade Assistance Program
as part of its 1987-88 budget;
NOW THEREFORE, the Community Redevelopment Agency of the City of Palm Springs,
California does hereby adopt the guidelines and priority areas for the
Property Upgrade Assistance Program which are on file in the office of the
City Clerk.
ADOPTED this 5th day of August , 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA11 '
By �w-
-1 - —
Assistant Secretary Chaj-Tan `
REVIEWED AND APPROVED:
RESOLUTION NO. 486
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING AN AGREEMENT WITH THE COACHELLA
VALLEY HOUSING COALITION FOR SERVICES
RELATED TO A SELF-HELP HOUSING PROGRAM.
WHEREAS the Agency has allocated monies into a Housing Setaside Fund for
the purpose of increasing the community supply of low and moderate income
housing; and
WHEREAS the Agency has allocated monies from the Fund for the purpose of
developing self-help housing to encourage homeownership among low income
residents of the City; and
WHEREAS the Coachella Valley Housing Coalition has experience in the develop-
ment of self-help housing and has expressed a strong interest in involvement
in such a program in the City;
NOW THEREFORE BE IT RESOLVED that the Community Redevelopment Agency of
the City of Palm Springs, California, does hereby approve an agreement with
the Coachella Valley Housing Coalition for services related to a self-help
housing program (said agreement on file in the office of the City Clerk) .
ADOPTED this Znd day of September , 1987•
' AYES: Members Apfelbaum, Birer, Foster and Smith
NOES: None
ABSENT: Chairman Bogert
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS LIFORNIA
- Assistant Secretary Chair n
t. s
r
REVIEWED AND APPROVED:_
RESOLUTION NO. 487
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
AUTHORIZING THE FINANCING OF CERTAIN
REAL PROPERTY AT 1447 N. PALM CANYON
DRIVE KNOWN AS THE CASA DEL CAMINO
HOTEL IN SECTION 10 IN THE NORTH PALM
CANYON REDEVELOPMENT PROJECT (PA #6) .
WHEREAS the City Council has designated itself as a Community Redevelopment
Agency and taken the necessary action in accordance with State law to initiate
a redevelopment program in the North Palm Canyon Project Area; and
WHEREAS the Redevelopment Agency of the City of Palm Springs has determined
that the acquisition of real property within the North Palm Canyon Project
Area, known as the Casa del Camino Hotel at 1447 North Palm Canyon Drive
in Section 10, for the purpose of future redevelopment is in conformance
with and forwards the implementation of the Redevelopment Plan; and
WHEREAS the Executive Director of the Agency was authorized to offer and
acquire the Casa del Camino Hotel from the property owner in accordance
with all applicable laws for $575,000; and
WHEREAS the offer was accepted and the Executive Director accepted the deed
on behalf of the Community Redevelopment Agency, and the City Clerk recorded
the deed with the County Recorder; and '
WHEREAS $135,000 was provided as a down payment; and
WHEREAS the Executive Director was authorized to provide an additional cash
payment of $265,000 for the property;
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs:
Section 1. The Agency accepts a $180,000 loan from the City' s General Fund
at 11. 5% simple interest.
Section 2. The Agency agrees to repay the loan ' s principal and interest
to the City in four (4) installments, each installment due on
June 30th annually.
ADOPTED this 2nd day of September 1987.
AYES: Members Apfelbau, Birer, Foster and Smith
NOES: None
ABSENT: Chairman Bogert
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
�11
�As'sistant SecretaryChair
REVIEWED AND APPROVED:_1�
RESOLUTION NO. 488
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRING, CALIFORNIA,
AMENDING THE BUDGET FOR THE 1987-88 FISCAL YEAR.
WHEREAS Resolution 480 approving the budget for the fiscal year
1987-88 was adopted on June 17 , 1987 and
WHEREAS the Executive Director has recommended, and the Community Redevelop-
ment Agency desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized
to record inter-fund cash transfers as required in accordance with
this Resolution, and that Resolution 480 adopting the budget for
the 1987-88fiscal year is hereby amended as follows:
SECTION to ADDITIONS
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 816 0185 7317 $180,000
Title:
Redevelopment North Palm Casa del
Agency Canyon Camino
Purpose: To fund loan to repay balance of note on Casa del Camino Hotel
SECTION 2. SOURCE
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. Ill 344 $180,000
Title:
General Fund Reserve for
Capital Proj cts
Adopted this ]6th day of September 1987
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
COMMUNITY REDEVELOPMENT AGENCY
ATTEST: CITY OF PALM SPRIJNIa CALLIIG ,NIA
psis�tEa_ry "ha
REVIEWED & APPROVED �� j --
RESOLUTION NO. 489
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA.,
AUTHORIZING THE PAYMENT OF AN AMOUNT
NOT TO EXCEED $18,755.52 TO THE
CALIFORNIA DEPARTMENT OF TRANSPORTATION
FOR SERVICES RELATED TO THE INSTALLATION
OF TRAFFIC SIGNALS ADJACENT TO THE
DESERT FASHION PLAZA.
WHEREAS the Community Redevelopment Agency through the Participation Agreement
for the Desert Fashion Plaza Expansion has previously agreed to provide
certain offsite improvements; and
WHEREAS the California Department of Transportation provided certain services
related to the installation of traffic signals adjacent; to the project;
NOW THEREFORE, the Community Redevelopment Agency of the City of Palm Springs
does hereby resolve to authorize payment to the California Department of
Transportation of an amount not to exceed $18,755.52 for services related
to the installation of traffic signals adjacent to the Desert Fashion Plaza.
ADOPTED this 16th_ day of __ September , 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert '
NOES: None
ABSENT: None
ATTEST: COMMUNIT`( REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
�./Assistant Secretary Chair an
, Q 6 '
REVIEWED AND APPROVED:
RESOLUTION NO. 490
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, CALIFORNIA, APPROVING AN
AGREEMENT AND THE RELEASE OF A ONE-TIME MONETARY
CONTRIBUTION TO THE RIVERSIDE COUNTY COALITION
FOR ALTERNATIVES TO DOMESTIC VIOLENCE (RCCADV).
WHEREAS the Agency has allocated monies into a Housing Setaside Fund for
the purpose of increasing the community supply of low and moderate income
housing; and
WHEREAS it has been determined that the use of these funds as a
contribution toward the purchase and renovation of an emergency shelter
meets the intent of the law; and
WHEREAS the Agency committed Twenty Nine Thousand, Four Hundred and Forty
Five Dollars ($29,445) from 20% Housing Setaside Funds to RCCADV toward the
purchase and renovation of an emergency shelter in the Coachella Valley;
and
WHEREAS RCCADV has identified a shelter site and entered into escrow for
the purchase of same and have submitted the necessary backup documentation
as requested by the Agency;
NOW THEREFORE BE IT RESOLVED that the Community Redevelopment Agency of the
City of Palm Springs, California, does hereby approve the Agreement and
release of funds into escrow on behalf of RCCADV and as per Agreement on
file in the Office of City Clerk.
rADOPTED this 30th day of September , 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
COMMUNITY REDEVELOPh AGENCY
ATTES CITY OF PALM SPR CA IA
By MONOMMENNNOW
✓ Assistant Secretary / CPFrman
REVIEWED & APPROVED: K�?
WP/CRA
RESOLUTION NO. 491
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRING, CALIFORNIA,
AMENDING THE BUDGET FOR THE 1987-88 FISCAL. YEAR. '
WHEREAS Resolution 480 approving the budget for the fiscal year
1987-88 was adopted on June 17, 1987, and
WHEREAS the Executive Director has recommended, and the Community Redevelop-
ment Agency desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized
to record inter-fund cash transfers as required in accordance with
this Resolution, and that Resolution 480 adopting the budget for
the 1987-88fiscal year is hereby amended as follows:
SECTION 1 . ADDITIONS
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 901 08'70 7378 $29,445
Title:
Low and Moderate Alternatives
Income Housing to Domestic -- '
Violenc
Purpose: Cne•-Li;,e contribution to Riv: 00. Coalition for Alternatives to
Domstic Violence for the purchase and renovation of an emergency
shelter in the Coachella Valley
SECTION 2. SOURCE
s�
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 901 0870 301 $29,445
Title: Lav and
Moderate Income Fund Eal
Housing
Adopted this 30th day of September 19 87 .
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None '
ABSENT: None
COMMUNITY REDEVEL AGENCY
ATTEST: CITY OF PALM 'SP CALIF A
By � _ L/—
(ks,sfstant Secretary AM%5a rm
REVIEWED & APPROVED -
RESOLUTION NO. 492
' OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING CERTIFICATE OF COMPLETION
ON THE DESERT FASHION PLAZA EXPANSION
(PA #1, BLOCK #6).
WHEREAS the Participation Agreement for the Desert Fashion Plaza Expansion
requires the issuance of a Certificate of Completion for the project once
finished; and
WHEREAS the project has been completed and is in compliance with the terms
and provisions of the Participation Agreement;
NOW THEREFORE the Community Redevelopment Agency of the City of Palm Springs,
California, does hereby approve a Certificate of Completion for the Desert
Fashion Plaza Expansion.
ADOPTED this 21st day of October 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
' ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, FORNIA
By
ant Secretary Chair
REVIEWED AND APPROVED: /C�'
RESOLUTION NO. 493
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA, '
APPROVING AGREEMENT WITH MUNICIPAL
SERVICES, INC. FOR REDEVELOPMENT CONSULT-
ING SERVICES FOR PROJECT AREA #9 IN
AN AMOUNT NOT TO EXCEED $52,750,00.
WHEREAS the Redevelopment Agency has budgeted monies to fund the adoption
of Project Area #9; and
WHEREAS Municipal Services, Inc. , has agreed to provide redevelopment consult-
ing services for said adoption in a manner consistent with Agency goals;
NOW THEREFORE BE IT RESOLVED that the Community Redevelopment Agency of
the City of Palm Springs, California, does hereby approve a contract with
Municipal Services, Inc. for redevelopment consulting services for Project
Area #9 in an amount not to exceed $52,750.00.
ADOPTED this 21st day of October 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY ,
CITY OF PALM SPRINGS, FORNIA
Assistant Secretary TCha' an
REVIEWED AND APPROVED:
RESOLUTION NO. 494
OF THE COMMUNITY REDEVELOPMENT AGENCY
' OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING THE CONSOLIDATION OF $54,400
IN LOANS WITH A $50,000 NEW LOAN TO
CREATE A SINGLE $104,400 LOAN FROM
THE GENERAL FUND TO THE HIGHLAND-GATEWAY
PROJECT AREA (PA #7) .
WHEREAS the Community Redevelopment Agency has previously accepted loans
from the General Fund to the Highland-Gateway Project Area for various
purposes; and
WHEREAS the 1987-88 budget anticipates an additional loan to cover entryway
and clean-up projects in the area; and
WHEREAS the consolidation of these loans into a single loan would simplify
the accounting for the project area;
NOW THEREFORE BE IT RESOLVED that the Community Redevelopment Agency of
the City of Palm Springs, California, does hereby approve a $50,000 loan
from the General Fund and its consolidation with other existing loans to
the area into a single loan of $104,400 from the General Fund to the Community
Redevelopment Agency of the City of Palm Springs and at 9% interest compounded
' annually. The existing loans to be consolidated are: 1) the $15,200 loan
approved June 19, 1985; the $9,900 loan approved July 31, 1985; and the
$29,300 loan approved August 6, 1986. This allocation shall be a loan to
the Agency and 'shall constitute an indetedness of the Agency, within the
meaning of division 24 of the Health and Safety Code, Article 6, Chapter
6, of the California Redevelopment Law, and repayable when tax increment
from the redevelopment project warrants.
ADOPTED this 21st day of October 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, IFORNIA
i
BY
sslrsstant Secretary a' an
REVIEWED AND APPROVED: K T
1
RESOLUTION NO. 495
OF THE COMMUNITY REDEVELOPMENT AGENCY '
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING THE CONSOLIDATION OF $24,300
IN LOANS WITH A $102,000 NEW LOAN TO
CREATE A SINGLE $126,300 LOAN FROM
THE GENERAL FUND TO THE BARISTO-FARRELL.
PROJECT AREA (PA #8) .
WHEREAS the Community Redevelopment Agency has previously accepted loans
from the General Fund to the Baristo-Farrell Project Area for various
purposes; and
WHEREAS the 1987-88 budget anticipates an additional) loan to cover street
improvement projects in the area; and
WHEREAS the consolidation of these loans into a single loan would simplify
the accounting for the project area;
NOW THEREFORE BE IT RESOLVED that the Community Redevelopment Agency of
the City of Palm Springs, California, does hereby approve a $102,000 loan
from the General Fund and its consolidation with other existing loans to
the area into a single loan of $126,300 from the General Fund to the Community
Redevelopment Agency of the City of Palm Springs and at 9% interest compounded '
annually. The existing loans to be consolidated are: 1) the $24,300 loan
approved August 6, 1986. This allocation shall be a loan to the Agency
and shall constitute an indetedness of the Agency, within the meaning of
Division 24 of the Health and Safety 'Code, Article 6, Chapter 6, of the
California Redevelopment Law, and repayable when tax increment from the
redevelopment project warrants.
ADOPTED this 21st day of October 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, C IA
By% ssistant Secretary hairm
REVIEWED AND APPROVED:
RESOLUTION NO. 496
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
ACCEPTING A $87,500 LOAN FROM THE GENERAL
FUND TO THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS
TO PROVIDE FUNDING FOR 1987-88 ADMINIS-
TRATIVE AND CAPITAL PROJECT COSTS FOR
PROJECT AREA #9.
WHEREAS the Community Redevelopment Agency of the City of Palm Springs,
California, has and will incur expenses in Project Area #9; and
WHEREAS the 1987-88 budget anticipates a loan of $87,500 to fund adoption
costs for the project area; and
WHEREAS $87,500 has been requested by the Community Redevelopment Agency
for these costs;
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs as follows:
Section 1. Accepts a $87,500 loan to Project Area #9 from the General Fund
' to the Community Redevelopment Agency of the City of Palm Springs
at 9% interest. The allocation shall be a loan to the Agency
and shall constitute an indebtedness of the Agency, within the
meaning of Division 24 of the Health and Safety Code Article
6, Chapter 6, of the California Redevelopment Law, and repayable
when tax increment from the various redevelopment projects
warrants.
Section 2. That proceeds of the loan be utilized to provide the Agency
with sufficient cash for 1987-88 administrative and capital
project costs for Project Area #9.
ADOPTED 'this y 21st day of ,_ October 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
_ ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CAL NIA
By L L�
A ist a Secretary Chairm
' REVIEWED AND APPROVED
RESOLUTION NO. 497
OF THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF PALM SPRINGS, CALIFORNIA, AMENDING
THE BUDGET FOR THE 11986-87 FISCAL YEAR.
WHEREAS Resolution 431 , approving the budget for the fiscal year 1986-87 was
adopted on June 18, 1986; and
WHEREAS the Executive Director has recommended, and the Community Redevelopment
Agency desires to approve, certain amendments f.o said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized to
record inter-fund cash transfers as required in accordance with this Resolution,
and that Resolution 431 adopting the budget for the 1986-87 fiscal year is
hereby amended as follows:
SECTION 1 . ADDITIONS
Fund Activity Account Amount
813 South Palm Canyon 182 Projects 4652 Interest $1 ,856
816 North Palm Canyon 185 Projects 4652 Interest 28
817 Highland-Gateway 186 Projects 4652 Interest 92
845 Oasis 184 Debt Service 4372 Coachella Valley MAD 88
845 Oasis 184 Debt Service 4373 P.S. Cemetery District 10
846 North Palm Canyon 185 Debt Service 4372 Coachella Valley MAD 344
846 North Palm Canyon 1185 Debt Service 4373 P.S. Cemetery District 40
847 Highland-Gateway 186 Debt Service 4372 Coachella Valley MAD 25 ,
847 Highland-Gateway 186 Debt Service 4373 P.S. Cemetery District 3
$2,486
SECTION 2. SOURCE
Fund Account Amount
813 South Palm Canyon 301 Fund Balance $1 ,856
816 North Palm Canyon 301 Fund Balance 28
817 Highland-Gateway 301 Fund Balance 92
845 Oasis 301 Fund Balance 98
846 North Palm Canyon 301 Fund Balance 384
847 Highland-Gateway 301 Fund Balance 28
$2,486
Purpose: To amend 1986-87 Budget in order to eliminate budget overruns.
Adopted this 4th� day of November , 1987 .
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
COMMUNITY REDEVELOPMENT AGENCY
ATTEST: CITY OF PALM SPRINGS,; CAL FORNIA
sistant Secretary Chairm n
REVIEWED & APPROVE __
RESOLUTION NO. 498
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, CALIFORNIA EXPRESSING
ITS INTENT TO ISSUE APPROXIMATELY $50,000,000
COMPOSITE ISSUE 1987 FLOATING RATE REFUNDING
CERTIFICATES OF PARTICIPATION (PALM CANYON
PLAZA HOTEL PROJECTS 1-7) AND AUTHORIZING
CERTAIN ACTIONS IN CONNECTION THEREWITH
WHEREAS, the Community Redevelopment Agency of the City of
Palm Springs ("Agency") is a community redevelopment agency, duly
formed and validly existing under and by virtue of the laws of the
state of California, in particular, the Community Redevelopment Law
of the state of California (Health and Safety Code Section 33000 et
seq. ) ("Law") , with the authority under the Law to buy and sell real
and personal property located in a redevelopment project area; and
WHEREAS, in accordance wilth Resolution No. 284 adopted
December 19, 1984, the Agency authorized the sale and delivery of seven
separate issues of Fifty Million Dollar Composite Issue 1984 Floating
Rate Certificates of Participation (Palm Canyon Plaza Hotel Projects
1-7) (the "Certificates") for the purpose of financing the costs of
acquiring, constructing, installing, equipping and improving each of
the following elements of a condominium hotel project (the "Projects") :
1. 5 room hotel Palm Canyon Plaza 1, Ltd. $5,500,000
2. 25 room hotel Palm Canyon Plaza 2, Ltd. 6,000,000
3. 54 room hotel Palm Canyon Plaza 3, Ltd. 6,500,000
4. 2 room hotel Palm Canyon Plaza 4, Ltd. 8,500,000
5. 12 room hotel Palm Canyon Plaza 5, Ltd. 91000,000
6. 98 room hotel Palm Canyon Plaza 6, Ltd. 7,100,101
7. 94 room hotel Palm Canyon Plaza 7, Ltd. 7,000,000
WHEREAS, in connection with the appproval of the sale and
delivery of the Certificates, the Agency authorized the execution and
delivery of installment sale agreements, trust agreements and certain
other documents in connection therewith; and
WHEREAS, the Certificates are scheduled for redemption on
November 15, 1987, and the general partner of the owners of the Projects
described in the above table has requested that the Agency approve
the sale and delivery of approximately Fifty Million Dollar Composite
Issue 1987 Floating Rate Refunding Certificates of Participation (Palm
Canyon Plaza Hotel Projects 1-7) ("Refunding Certificates") in order
to provide funds for the Projects; and
WHEREAS, the Agency desires to approve the appointment of
Prudential-Bache Capital Funding ("Underwriter") to act as underwriter
in connection with the sale of the Refunding Certificates and to
authorize the preparation and distribution of an official statement
in connection therewith; and
WHEREAS, the Agency desires to authorize and direct Agency
staff to commence proceedings in connection with the authorization
of the sale and delivery of the Refunding Certificates, including,
' without limitation, the fixing of a time and place for the holding
of a special meeting at which time the Agency shall have presented
to it for approval documentation setting forth the terms and provisions
of the Refunding Certificates;
NOW, THEREFORE BE IT RESOLVED by the members of the Community
Redevelopment Agency of the City of Palm Springs that:
RESOLUTION NO. 498
Section 1. The Agency hereby expresses its intent to
issue the Refunding Certificates in the aggregate principal amount
of approximately Fifty Million Dollars to assist in the financing of
the Projects. Certificates will be sold and delivered in separate
issues for the owners of the Projects described in the above table
or their successors in interest.
Section 2. The Refunding Certificates shall be sold and
delivered on such terms and provisions as provided in trust agreements
to be presented to this Agency at the time of the final authorization
of the sale and delivery of the Refunding Certificates. The Refunding
Certificates shall evidence the holder' s proportionate right to receive
payments pursuant to an agreement on the part of the Agency to acquire
and sell the Projects; provided, however, in no event shall full faith
and credit of the Agency or any of the Agency' s assets be pledged to
repay principal , interest and premium, if any, with respect to the
Refunding Certificates. The interest with respect to the Refunding
Certificates shall be payable at a variable rate as provided in the
trust agreements, and the Refunding Certificates shall mature no later
than November 15, 2014.
Section 3. The Agency hereby authorizes Prudential-Bache
Capital Funding to act as underwriter with respect to the purchase
of the Refunding Certificates. The Underwriter is hereby authorized
to prepare and distribute one or more official statements in connection
with the purchase and sale of the Refunding Certificates.
Section 4. In order to provide for the issuance and sale
of the Refunding Certificates and the consummation of the transactions ,
to be consummated thereby, the Executive Director or other appropriate
authorized officers of the Agency are authorized and directed to take
such actions as are necessary, including, without limitation, fixing
the date of a special meeting of the Agency to be held no later than
November 12, 1987, at which time final documentation will be presented
to this Agency for its approval relating to the issuance and sale of
the Refunding Certificates.
Section 5. This Resolution shall take effect and be in
force immediately upon its adoption.
ADOPTED THIS 4TH DAY OF NOVEMBER, 1987 AT A REI3ULAR MEETING OF THE
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS BY THE
FOLLOWING VOTE:
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOTES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRIN -Oft-IFORNLA�
\.,
'-A- i stant Secretary � ' Chairman U
REVIEWED AND APPROVED:_J'C,2__ __
RESOLUTION NO. 499
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS
CONSENTING TO THE SALE AND DELIVERY
' OF NOT TO EXCEED $50,000,000 PRINCIPAL
AMOUNT OF 1987 VARIABLE RATE DEMAND
REFUNDING CERTIFICATES OF PARTICIPATION
(PALM CANYON PLAZA HOTEL) PROJECT AND APPROVING
CERTAIN DOCUMENTS AND AUTHORIZING CERTAIN
ACTIONS IN CONNECTION THEREWITH
WHEREAS, the Community Redevelopment Agency of the
City of Palm Springs ("Agency" ) is a community redevelopment
agency, duly formed and validly existing under and by virtue of
the laws of the State of California, in particular, the
Community Redevelopment Law of the State of California (Health
and Safety Code Section 33000 et seq. ) ("Law" ) , with the
authority under the Law to buy and sell real and personal
property located in a redevelopment project area; and
WHEREAS, in accordance with Resolution No . 284
adopted December 19, 1984, the Agency authorized the sale and
delivery of seven separate issues of Fifty Million Dollar
Composite Issue 1984 Floating Rate Certificates of
Participation (Palm Canyon Plaza Hotel Project 1-7) (the "1984
Certificates" ) for the purpose of financing the costs of
acquiring, constructing, installing, equipping and improving
1 each of the following elements of a condominium hotel project
(the "Projects") :
1 . 5 room hotel Palm Canyon Plaza 1, Ltd. $ 5, 500, 000
2 . 25 room hotel Palm Canyon Plaza 2, Ltd. 6, 000, 000
3 . 54 room hotel Plan Canyon Plaza 3, Ltd. 6, 500, 000
4 . 2 room hotel Palm Canyon Plaza 4 , Ltd. 8, 500, 000
5 . 12 room hotel Palm Canyon Plaza 5, Ltd . 9, 000, 000
6 . 98 room hotel Palm Canyon Plaza 6, Ltd. 7, 500, 000
7 . 94 room hotel Palm Canyon Plaza 7, Ltd. 7, 000, 000
WHEREAS, in connection with the approval of the sale
and delivery of the Certificates, the Agency authorized the
execution and delivery of installment sale agreements, trust
agreements and certain documents in connection therewith; and
WHEREAS, the Certificates are scheduled for
redemption on November 15, 1987, and on November 4 , 1987, the
Agency adopted its resolution expressing its intent to issue
approximately Fifty Million Dollar Composite Issue 1987 Variable
Rate Demand Refunding Certificates of Participation (Palm Canyon
Plaza Hotel Projects 1-7) ("Refunding Certificates" ) in order to
provide funds for the redemption of the 1984 Certificates and
the financing of the Projects; and
RESOLUTION NO. 499
WHEREAS, the Agency desires to consent to the
preparation, sale and delivery of the Refunding Certificates to
be sold and delivered in seven separate series which will
evidence a proportionate interest in the right: to receive
payments from the Agency pursuant to certain Project Acquisition
Agreements dated November 1, 1987, the forms of which have been '
presented to the Agency at this meeting (collectively the
"Project Acquisition Agreements") ; ,
WHEREAS, the Certificates will be prepared, sold and
delivered by State Street Bank and Trust Company of California,
N.A. or such other trustee appointed by Prudential-Bache
Securities Inc . with the approval of the Agency and the
Companies referred to hereinabove '(the "Trustee") to perform
certain duties pursuant to certain Trust Indentures dated
November 1, 1987, the forms of which have been presented to the
Agency at this meeting (collectively the "Trust Indenture" ) ; and
WHEREAS, in accordance with the terms and provisions
of the Project Acquisition Agreement and the Trust Indenture,
the Agency' s obligation to make payments under the Project
Acquisition Agreement is a special obligation of the Agency
payable soleley from amounts received from said Companies in
connection with the sale of the Project to the Companies as well
as amounts representing draws under a letter of credit to be
issued by a state, national or foreign banking association as
approved by the Agency (the "Bank"') pursuant to certain
Reimbursement Agreements in the forms acceptable to the Agency
(collectively, the "Reimbursement Agreement") ,; and
WHEREAS, there has been presented to the Agency at
i this meeting the form of a Certificate Purchase Agreement (the
"Certificate Purchase Agreement") regarding the purchase, sale
and delivery of the Refunding Certificates to Prudential-Bache
j Securities Inc. (the "Underwriter" ) .
NOW, THEREFORE, the Community Redevelopment Agency of
the City of Palm Springs does hereby resolve as follows :
j SECTION 1 . The Refunding Certificates shall be
prepared, sold and delivered in the seven separate
series as hereinafter provided in an aggregate
principal amount not to exceed $50, 000 , 000 . The
purposes for which proceeds of the Refunding
Certificates shall be expended are to pay the costs of
the sale and delivery of the Refunding Certificates, to
pay the redemption price with respect: to the 1984
Certificates and to pay for the costs of the
acquisition and construction of the Project . In no
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LA2/0063B
� I
j
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RESOLUTION NO. 499
event shall the Agency of the City of Palm Springs (the
"City") be obligated to pay only costs or expenses
relating to the sale and delivery of the Refunding
Certificates .
SECTION 2 . The Trustee is hereby authorized to
prepare, sell and deliver the Refunding Certificates to
I' the Underwriter in accordance with Certificate Purchase
Agreement upon payment of the purchase price therefor.
! The Underwriter is hereby approved as Remarketing Agent .
SECTION 3 . The proposed form of the Project
Acquisition Agreement presented at this meeting is
J hereby approved. The Executive Director/Secretary and
I the Assistant Secretary of the Agency are hereby
authorized and directed for an in the name of the
Agency to execute said Project Acquisition Agreement .
The Executive Director or Redevelopment Director of the
Agency is hereby authorized and directed to execute,
acknowledge and deliver any and all documents required
in order to consummate transactions contemplated by the
Project Acquisition Agreement, including, without
limitation, deeds, notes, deeds of trust, assignment of
! leases, rents and profits and any and all other title
documents and security instruments as are required by
the Project Acquisition Agreement. The Project
Acquisition Agreement shall be executed in
substantially the form hereby approved, with such
additions thereto and changes therein as are
recommended or approved by specialcounsel to the Agency
and approved by such officers, such approval to be
' conclusively evidenced by the execution and delivery
thereof .
SECTION 5 . The form of the Refunding
Certificates as set forth in the Trust Indenture (as
said Indenture may be modified pursuant to the
preceding section hereof) is hereby approved. The
Certificates shall mature on November 15, 2014 and
shall bear interest at a variable rate to be
calculated as provided in the Indenture with an
initial rate not to exceed 8%.
SECTION 6 . The form of the Certificate Purchase
Agreement presented at this meeting and the sale of the
Refunding Certificates pursuant thereto are hereby
approved and the Executive Director/Secretary and
Assistant Secretary of the Agency are hereby authorized
and directed to evidence the Agency' s acceptance of the
terms and provisions of the Certificate Purchase
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LA2/0063B
I
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RESOLUTION NO. 499
Agreement by executing and delivering the Certificate
Purchase Agreement in the form presented to the
Agency at this meeting with such changes therein as
are recommended or approved by bond counsel to the
Agency and approved by such officers , such approval
to be conclusively evidenced by the execution and '
delivery thereof . The Certificates shall be sold to
the Underwriter pursuant to the Certificate Purchase
Agreement with an Underwriter ' s fee riot to exceed 2% .
SECTION 7 . The Executive Director/Secretary and
Assistant Secretary of the Agency are; hereby authorized
and directed to execute and delivery any and all
documents which the Reimbursement Agreement
contemplates will be executed and delivered by the
Agency, in the form approved by special counsel to the
Agency, such approval to be conclusively evidenced by
the execution and delivery thereof.
SECTION 8 . The Underwriter is hereby authorized
to print and distribute a Placement Memorandum and/or
Preliminary Official Statement to prospective
purchasers of the Refunding Certificates and to
prepare, print and distribute a Final Official
Statement relating to the, Refunding Certificates based
on the Placement Memorandum and/or Preliminary Official
Statement .
SECTION 9 . The Chairman, Executive
Director/Secretary, Redevelopment Director and
Assistant Secretary of the Agency are; hereby authorized '
and directed, jointly and severally, to do any and all
things and to execute and, deliver any and all documents
which they may deem necessary or advisable in order to
consummate the sale and delivery of the Refunding
Certificates and otherwise to effectuate the purposes
of this Resolution, and such actions previously taken
by such officers are hereby ratified and confirmed.
SECTION 10. This Resolution shall take effect from and after
its date of adoption.
ADOPTED this loth day of November, 1987.
AYES: Members Apfelbaum, Birer, Foster and Chairman Bogert
NOES: None
ABSENT: Member Foster
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
t� CITY OF PALM SPRINGS, CALIFORNIA
BY
lstant Secretary ChaiV2n
REVIEWED AND APPROVED: 5` '
LA2/00638 4.
RESOLUTION NO. 500
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, CALIFORNIA AUTHORIZING
THE ACQUISITION OF CERTAIN REAL PROPERTY OF THE
' DESERT HIGHLANDS ESTATES TRACT KNOWN AS THE NORTH
HALF OF LOT 25 (ASSESSOR'S PARCEL NO. 669-414-018)
IN SECTION 35 IN THE HIGHLAND GATEWAY REDEVELOPMENT
PROJECT (PA #7) .
WHEREAS the City Council has designated itself as a Community
Redevelopment Agency and taken necessary action in accordance with
State Law to initiate a redevelopment program in the Highland Gateway
Project Area; and
WHEREAS certain real property known as the north half of Lot 25 of
the Desert Highland Estates Tract (Assessor's Parcel No. 669-414-018)
in the Project Area has become available from Riverside County for
sale for back taxes; and
WHEREAS The Community Redevelopment Agency has determined that the
acquisition of said property for the purpose of future redevelopment
is in conformance with and forwards the Redevelopment Plan;
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency ,
of the City of Palm Springs as follows:
Section 1. The Executive Director of the Agency is authorized to
' offer and acquire the north half of Lot 25 of the Desert
Highland Estates Tract from the County of Riverside in
accordance with all applicable laws.
Section 2. The offer shall be for three thousand dollars ($3,000)
plus applicable fees and closing costs.
Section 3. The Executive Director shall accept the deed on behalf
of the Community Redevelopment Agency.
Section 4. Funds for the purchase shall come from the existing
Highland Gateway Housing account in the Low and Moderate
Income Housing Fund.
Section 5. The property shall be held as an asset of the Low and
Moderate Income Housing Fund for the future development
of housing in conjunction with adjacent lots.
ADOPTED THIS 18TH DAY OF NOVEMBER, 1987 AT A REGULAR MEETING OF THE
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS BY THE
FOLLOWING VOTE:
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST• COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS;CAL'IFORN.IA
As-gistant Secretary Chairmap'
REVIEWED AND APPROVED: /CS°
RESOLUTION NO. 501
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRING, CALIFORNIA,
AMENDL.NG THE BUDGET FOR THE 1987-88 FISCAL YEAR.
WHEREAS Resolution 480 approving the budget for the fiscal year
1987-88 was adopted on June 17, 1987 and
WHEREAS the Executive Director has recommended, and the Community Redevelop-
ment Agency desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is authorized
to record inter-fund cash transfers as required in accordance with
this Resolution, and that Resolution 480 adopting the budget for
the 1987-88fiscal year is hereby amended as follows:
SECTION 1 . ADDITIONS
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 811 0180 7380 $125,000
Title:
Redevelopment Central Busi- Andreas Road
Agency ness District Walkway Phas I
Purpose: To fund the design and construction of the Andreas Road
Walkway improvements between Palm Canyon Drive and Indian
Avenue
SECTION 2. SOURCE
.9
FUND ACTIVITY ACCOUNT PROJECT AMOUNT
No. 811 0180 7258 $125,000
Title:
Redevelopment Central Busi- Block 2
Agency ness District Undergroundi g
Adopted this 18th day of November 19 87.
AYES: Councilmembers Apfelbaum, Birer, Foster, Smith and Mayor Bogert
NOES: None
ABSENT: None '
COMMUNITY REDEVELOPMENT AGENCY
ATTEST: / CITY OF PALM SPR /G,S CALIFORNIA
y
A stant Secretary �hairmary
REVIEWED & APPROVED `
RESOLUTION NO. 502
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, CALIFORNIA, APPROVING
ELEMENTS OF A REVISED OWNER PARTICIPATION
AGREEMENT WITH WESSMAN DEVELOPMENT COMPANY FOR
THE REDEVELOPMENT OF PROPERTY ON THE SOUTHWEST
CORNER OF TAHQUITZ-McCALLUM WAY AND INDIAN AVENUE
FOR A RETAIL AND RESTAURANT COMPLEX.
WHEREAS the Redevelopment Plan for the Central Business District
Redevelopment Area authorizes the Agency to enter into development
agreements for projects consistent with that plan; and
WHEREAS the Agency has previously adopted a development agreement
for the subject property on July 2, 1986 by Resolution No. 432; and
WHEREAS the Agency has previously approved a supplement to said
agreement on August 6, 1986 by Resolution No. 434; and
WHEREAS the Agency has previously approved an Amended and Restated
Agreement on December 11, 1986 by Resolution No. 452; and
WHEREAS changes in the proposed development, especially as related
to the Library site have occurred since said previous approval ;
NOW THEREFORE, THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
' PALM SPRINGS does hereby approve Elements of a Revised Development
Agreement for the redevelopment of the property by Wessman Development
Company with the exception of Section IV. B. 1, dated December 2,
1987 on file with the City Clerk.
ADOPTED this 2nd day of December , 1987.
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
/ L
By�f /7Z� / —` �✓ "
Assistant
Secretary Chairm,0/
REVIEWED & APPROVED: t�'�,�•
1
RESOLUTION NO. 503
OF THE REDEVELOPMENT '! AGENCY OF THE CITY
OF PALM SPRINGS, CALIFORNIA, AUTHORIZING
THE SECOND AMENDED AND RESTATED PARTICIPATION
AGREEMENT WITH WESSMAN DEVELOPMENT COMPANY
REGARDING THE DEVELOPMENT OF PLAZA DE LAS
FLORES IN BLOCK 7 OF THE CENTRAL BUSINESS
DISTRICT REDEVELOPMENT PROJECT AREA.
WHEREAS the Community Redevelopment, Agency, by Resolution No. 432
authorized an agreement with Wessman Development Company for the
improvement of a parcel of land on the northeast corner of Block
7 of the CBD project area; and
WHEREAS the City Council , by Resolution No. 14925 declared the parcel
for sale and by Resolution No. 15935 'authorized agreement with Wessman
Development Company for the sale of said parcel 1 ; and
WHEREAS the CRA, by Resolution No. ' 434 authorized a supplement to
the Agreement; and
WHEREAS the CRA, by Resolution No'. 451 authorized assistance in
obtaining advantaged financing for an expanded project and by
Resolution No. 452 approved an amended and restated agreement; and
WHEREAS the City Council , by Resolution No. 16071 authorized the
Amended and Restated Agreement; and
WHEREAS the Redevelopment Agency, by Resolution No. 502, approved
the Elements of a Revised Agreement:
NOW THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS '
does hereby resolve as follows:
Section 1 . That the Second Amended and Restated Participation
Agreement by and among the City of Palm Springs, the
Community Redevelopment Agency of the City of Palm Springs,
and John Wessman, dba .Wessman Development Company, a
sole proprietorship is hereby approved. A copy of said
Agreement is on file in the office of the City Clerk.
Section 2. That the sale of the Property to John Wessman, dba Wessman
Development Company, a sole proprietorship, by the City
pursuant to the Second Amended and Restated Participation
Agreement is hereby approved.
Section 3. That the modifications to the Welwood Murray Memorial
Library Building be allowed to the extent legally
permissible, according to plans submitted, including:
the removal of the East Wing originally designed for
Museum purposes, the removal of walls later added to
enclose the porches on the patio side iDf the building,
the removal of the garden wall enclosing the patio, and
the removal of the addition to the South Wing.
Section 4. That the Redevelopment Agency pay to the City of Palm
Springs Fifty Thousand Dollars ($50,000.06) as severance '
damage for the removal of the "liuseum" Wing and enclosed
porches concurrent with the removal of any legal
impediments which may restrict such removal .
Section 5. That the City deposit ' the said $50,000.00, delineated
in Section 4 above, into !the Library Trust Fund for future
Library capital purposes. ',
"REVISED"
RESOLUTION NO. 503
Section 6. That the City Council and Redevelopment Agency approve
the plans submitted by the participant, dated December
2, 1987, as previously approved by the Architectural
' Committee and the Planning Commission of the City of
Palm Springs.
Section 7. That Staff be directed to have a specific plan prepared
for the block bounded by Tahquitz Way, South Palm Canyon
Drive, Arenas Road and Indian Avenue to establish, among
other things, the proposed uses, design characteristics,
and designation of specific structures subject to historic
preservation.
Section 8. That all actions heretofore taken by the officers and
agents of the Agency with respect to the Project are
hereby approved, confirmed and ratified. The Executive
Director, the Chairman, the Vice-Chairman, and any and
all other officers of the agency are hereby authorized
and directed, for and in the name and on behalf of the
Agency, to do any and all things and take any and all
actions including execution and delivery of any and all
assignments, certificates, requisitions, agreements,
notices, consents, instruments of conveyance, warrants
and other documents, which they, or any of them, may
deem necessary or advisable in order to consumate the
lawful purchase, sale and financing of the Project pursuant
to the agreements described herein.
ADOPTED THIS I6thday of December 1987.
AYES: Members Apfelbaum, Birer, Foster and Chairman Bogert
NOES: None
ABSENT: Member Smith
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS CAL ORNIA
A(ssi-5tant Secretary Chairman
REVIEWED & APPROVED:_ -I
bb 1I46
RES/WESSMN
RESOLUTION NO. 504
OF 111E COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY 6F PALM SPRING, CALIFORNIA,
AMENDING THE BUDGE] FOR TIIE 1987-88 FISCAL YEAR.
WIIERLAS Resolution 480 approving the budget for the fiscal year
1987-88 was adopted on June 17 , 1987 and
WHEREAS the Executive Director has recommended , and the Community Redevelop-
ment Agency desires to approve, certain amendments to said budget;
NOW IHEREFORE BE 11 RESOLVED that the Director of Finance is authorized
to record inter-fund cash transfers as required in accordance with
this Resolution, and that Resolution 480 adopting Lhe budget for
the 1987-88fiscal year is hereby amended as follows :
SECTION 1 . AUDITIONS
FUND ACTIVITY ACCOUNT PROJECT AMOUNI
No. 015 0184 7385 - $2,500
title :
I1:rkovelopnrent Oasis Winter Prop.
Purpose: To furze' legal fees relaLed to legal action Iby Mrs. 'Ij.nter. ,
SECTION 2. SOURCE
s9
FUND ACTIVITY ACCOUNT PROJECT AMOUNI
No. 815 - 301 - $2,500
Title:
fl developnr_nt - lhid > alance -
Adopted this 16th day of December 1987
AYES: Members Appelbaum, Birer, Foster and Chairman Bogert
NOES: None '
ABSENT: Member Smith
COMMUNITY REDEVELOPMENT AGENCY
ATTEST: C11Y OF PALM SPR1N &j7 CALIFORNTA
By
Assi tant Secretary Cha1rma
REVIEWED & APPROVEIY