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Res 09-010 RESOLUTION NO 09-010 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POWAY, CALIFORNIA AUTHORIZING EXECUTION BY THE POWAY REDEVELOPMENT AGENCY OF SPECIFIED AGREEMENTS AND MAKING REQUIRED STATUTORY FINDINGS AND APPROVALS IN CONNECTION WITH DEVELOPMENT OF BRIGHTON PLACE WITHIN THE PAGUAY REDEVELOPMENT PROJECT AREA WHEREAS, pursuant to the California Community Redevelopment Law (Health and Safety Code Section 33000 et seq" the "Redevelopment Law"), the City Council (the "City Council") of the City of Poway (the "City") has adopted, and the Poway Redevelopment Agency (the "Agency") is responsible for implementing the Amended and Restated Redevelopment Plan for the Paguay Redevelopment Project Area adopted by the City Council of the City of Poway by Ordinance No 117 on January 12, 1984, as amended by Ordinance No 414 on July 14, 1993, as amended by Ordinance No 439 on January 13, 1995, as amended by Ordinance No 593 on January 1,2004, as amended by Ordinance No 605 on September 16, 2004, as amended by Ordinance No 611 on November 25, 2004, as amended by Ordinance No 641 on August 17, 2006, and as further amended by Ordinance No 657 on July 12, 2007 (as amended from time to time, the "Redevelopment Plan"), and WHEREAS, to assist in implementing the Redevelopment Plan, the Agency on December 16, 2004 adopted a five-year implementation plan (the "Implementation Plan") pursuant to Section 33490 of the Redevelopment Law; and WHEREAS, the Agency owns approximately 4-acres of land located east of Midland Road between Edgemoor Street and Adrian Street, Assessor's Parcel Numbers 314-220-69 and 314-220-70, within the Paguay Redevelopment Project Area (the "Property"), and WHEREAS, in furtherance of the Paguay Redevelopment Plan, the Implementation Plan, and the City General Plan, the Agency desires to cause development on the Property of a high quality residential development generally referred to as the Brighton Place, and containing approximately seventy-seven (77) units of affordable multifamily rental housing and all related landscaping and amenities (the "Development"), and WHEREAS, to implement the Development on the Property, the Agency has selected Brighton Place, L.P, (the "Developer") pursuant to an extensive developer selection process in accordance with the Agency's adopted procedures, and WHEREAS, In accordance with Sections 33431 and 33433 of the Redevelopment Law, the Agency desires to enter into a Land Disposition, Development and Loan Agreement (the "Disposition Agreement") and an accompanying Ground Lease (the "Ground Lease" and , together with the "Disposition Agreement," the "Agreements") with the Developer, substantially in the forms on file with the City Clerk and the Agency Secretary, pursuant to which, among other rnatters Resolution No 09-010 Page 2 1 The Agency will lease the Property to the Developer pursuant to the terms, covenants, and conditions of the Agreements, 2. The Agency will provide up to Four Million Three Hundred Eighty- One Thousand Dollars ($4,381,000) of Low and Moderate Income Housing Fund assistance (the "Agency Loan") to be applied toward payment of eligible costs for the Development to fill the financial feasibility gap between the reasonably anticipated costs of the Development and the reasonably available private sector debt and equity revenues to pay such costs, and 3 The Developer will develop and operate the Development in accordance with the terms and conditions of the Agreements, and WHEREAS, the following are sometimes collectively referred to in this Resolution as the "Redevelopment Actions'" 1 this Resolution, 2. the Agreements, 3 the lease by the Agency of the Property to the Developer and the development of the Development on the Property by the Developer; and 4 the related physical actions to be undertaken and achieved through the Agreements; and WHEREAS, the Redevelopment Actions will serve the purposes of the Redevelopment Law, the Redevelopment Plan, the Implementation Plan, and the City General Plan by eliminating blighting conditions and increasing the supply of affordable housing units in the Paguay Redevelopment Project Area, and WHEREAS, the Disposition Agreement provides for disposition of the Property to the Developer only if the City, in its discretion, grants specified land use entitlements and makes the necessary findings of conformity with the City General Plan (collectively, the "Planning Approvals"), and WHEREAS, the Agency has placed on file a copy of the Agreements and the summary (including an accompanying reuse valuation for the Property) called for in Section 33433 of the Redevelopment Law with respect to the lease of the Property to the Developer (the "Section 33433 Summary" and the "Section 33433 Reuse Valuation Memorandum," respectively), and has made the Agreements and the Section 33433 Summary and the 33433 Reuse Valuation Memorandum available for public inspection and copying pursuant to Section 33433 of the Redevelopment Law; and WHEREAS, the City Council and the Agency have conducted a duly noticed public hearing on the Agreements pursuant to Sections 33431 and 33433 of the Redevelopment Law for the purpose of receiving the input and comments of the public on the Redevelopment Actions, and Resolution No 09-010 Page 3 WHEREAS, by this Resolution, the City Council desires to make the findings and grant the consent required by Section 33433 of the Redevelopment Law in connection with Agency approval and implementation of the Redevelopment Actions, and WHEREAS, by this Resolution, the City Council, acting as the City's "planning agency," desires to make the findings of General Plan conformance as required by Government Code Section 65402 with respect to the disposition and development of the Property in accordance with the Agreements, and WHEREAS, in considering approval of the Redevelopment Actions, the City and the Agency have complied with the requirements of the California Environmental Quality Act and the applicable state and local implementing guidelines (collectively "CEQA") through the preparation of a Negative Declaration (including an initial study) for the Redevelopment Actions (the "Negative Declaration") approved by the City Council on February 3, 2009, copies of which are on file with the City Clerk and the Agency Secretary; and WHEREAS, the City has served as, and has complied with the requirements of, a "lead agency" under CEQA in connection with the processing and consideration of the Negative Declaration, and WHEREAS, the following additional materials (collectively, the "Supporting Documents") have been presented to and considered by the City Council in support of the findings and approvals set forth in this Resolution, (1) the staff report of March 3, 2009 accompanying this Resolution, (2) the Section 33433 Sumrnary; (3) the Section 33433 Reuse Valuation Memorandum; (4) the Agreements, and (5) the Negative Declaration, and any comments received on the Negative Declaration The Supporting Documents are hereby incorporated by reference in this Resolution and, together with the above recitals (the "Recitals"), form the evidentiary basis and establish the analytical route for reaching the ultimate findings and conclusions contained in this Resolution, NOW, THEREFORE, BE IT RESOLVED, that the City Council hereby finds that the above Recitals are true and correct and have served, together with the Supporting Documents, as the basis for the findings and approvals set forth below BE IT FURTHER RESOLVED, that the City Council hereby certifies its review and consideration of the Negative Declaration in accordance with CEQA. BE IT FURTHER RESOLVED, that the City Council hereby finds and determines, on the basis of the whole record before it (including the initial study and any comments received on the Negative Declaration), that the Negative Declaration reflects the City's independent judgment and analysis, BE IT FURTHER RESOLVED, that the City Council hereby finds and determines that the Negative Declaration adequately addresses the environmental issues pertaining to the Redevelopment Actions and that, on the basis of the whole record before it (including the initial study and any comments received on the Negative Declaration), Resolution No 09-010 Page 4 there is no substantial evidence that the Redevelopment Actions will have a significant effect on the environment, BE IT FURTHER RESOLVED, that the City Council hereby finds and determines that the applicable mitigation measures set forth in the Negative Declaration are incorporated into and will be implemented pursuant to the Redevelopment Actions BE IT FURTHER RESOLVED, that, based on the foregoing, the City Council hereby reconfirms its prior approval of the Negative Declaration on February 3, 2009 and states its intention that the Negative Declaration serve as the environmental documentation for the City Council's consideration of the Redevelopment Actions in compliance with CEQA. BE IT FURTHER RESOLVED, that the City Manager is hereby authorized and directed to file a Notice of Determination with respect to approval of the Redevelopment Actions in accordance with 14 Cal. Code of Regulations, Section 15075, and to pay all applicable filing fees on behalf of the City and the Agency BE IT FURTHER RESOLVED, that the City Council, acting in its capacity as the City's "planning agency," pursuant to the requirernents of Government Code Section 65402 hereby finds, determines and reports that the location, purpose and extent of the disposition and development of the Property in accordance with the Agreements conforms to the City's General Plan This finding, determination, and report is based on the facts and analysis set forth in the Recitals and Supporting Documents, which may be briefly synopsized as follows 1 The General Plan designation for the use of the Property is Residential Apartment, as amended by the City Council on February 3, 2009; and 2. Three acres of the Property have an Affordable Housing Overlay designation, placed on the Property in 1992 by the City Council, and 3 The disposition and development of the Property in accordance with the Agreements is for the development of approximately seventy-seven units of affordable multifamily rental housing and will achieve various General Plan goals and objectives and will be consistent with the Affordable Housing Overlay designation, BE IT FURTHER RESOLVED, that, pursuant to Section 33433 of the Redevelopment Law, the City Council hereby finds and determines that the consideration to be given by the Developer for the lease of the Property under the Agreements is not less than the fair reuse value of the Property at the use and with the covenants, conditions, and development costs authorized by the Agreements, This finding and determination is based on the facts and analysis set forth in the Recitals and Supporting Documents, which may be briefly synopsized as follows 1 The fair reuse value of the Property under the terms of the Disposition Agreement has been determined to be negligible (i,e , zero dollars or a negative value, in this instance -$4,381,000), and Resolution No 09-010 Page 5 2, The lease price to be paid for the Property by the Developer under the Disposition Agreement is One Dollar ($1) per year for the initial term of fifty-seven (57) years, BE IT FURTHER RESOLVED, that, pursuant to Section 33433 of the Redevelopment Law, the City Council hereby finds and determines that the lease of the Property to the Developer pursuant to the Agreements will assist in the elimination of blight in the Project Area, will provide housing for low- or moderate-income persons, and is consistent with the Implementation Plan adopted pursuant to Health and Safety Code Section 33490 These findings and determinations are based on the facts and analysis set forth in the Recitals and Supporting Documents, which may be briefly synopsized as follows, 1 The conveyance of the Property and the development of the Development pursuant to the Agreements will consolidate smaller and irregular parcels into a site appropriate for development, encourage private investment in the Project Area, and replace demolished blighted structures on the Property with a new high quality seventy-seven (77) unit affordable multifamily rental housing development within the Paguay Project Area; and 2, The development of the Development on the Property pursuant to the Agreements will implement several specific goals of the Agency's currently adopted Implementation Plan and is a specifically enumerated and budgeted activity in the Implementation Plan, BE IT FURTHER RESOLVED, that, pursuant to Sections 33431 and 33433 of the Redevelopment Law, the Agency hereby approves and authorizes 1 The Agreements and all ancillary documents attached as exhibits to, or Teferenced for execution by the Agency in, the Agreements, 2, The execution by the Agency Executive Director of the Agreements and all such ancillary documents in substantially the form on file with the City Clerk and the Agency Secretary, with such changes as are approved by the Agency signatory (such approval to be conclusively evidenced by the execution of the Agreements), 3 The lease of the Property by the Agency pursuant to the provisions of the Agreements, and 4 The funding of the Agency Loan pursuant to the Disposition Agreement. BE IT FURTHER RESOLVED, that nothing in this Resolution shall affect the City's policy discretion in granting or denying the Planning Approvals BE IT FURTHER RESOLVED, that the City Council hereby designates the City Clerk and the Secretary of the Agency as the custodian of the documents and other Resolution No 09-010 Page 6 material which constitute the record of proceedings upon which the decision herein is based These documents may be found at the City Clerk's Office at 13325 Civic Center Drive, Poway, California 92064 BE IT FURTHER RESOLVED, that this Resolution shall take immediate effect from and after its passage, PASSED, ADOPTED AND APPROVED, by the City Council of the City of Poway at a regular meeting therof this 3rd day of March 2009 ATTEST STATE OF CALIFORNIA ) ) ss, COUNTY OF SAN DIEGO ) I, Linda A. Troyan, MMC, City Clerk of the City of Poway, do hereby certify under penalty of perjury that the foregoing Resolution No 09-010 was dully adopted by the City Council at a meeting of said City Council held on the 3rd day of March 2009, and that it was so adopted by the following vote AYES BOYACK, CUNNINGHAM, HIGGINSON, REXFORD NOES NONE ABSENT CAFAGNA DISQUALIFIED' NONE