HomeMy WebLinkAboutReso 1996-18288 RESOLUTION 18288
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA ESTABLISHING THE OTAY RANCH RESERVE FUND
PROGRAM
WHEREAS, an application for adoption of the Otay Rancho Sectional Planning Area
(SPA) One Plan, was filed with the City of Chula Vista Planning Department on July 27, 1994
by the Otay Ranch L.P.; and
WHEREAS, the Otay Ranch General Development Plan (GDP), covering 22,9000 acres
of land, requires a Reserve Fund Program to be established concurrent with the approval of
the first SPA to correct any annual operating deficiencies incurred by the City of Chula Vista
("Project"); and
WHEREAS, a Property Tax Transfer Agreement has been entered into with the County
of San Diego, by Resolution No. 18261, wherein the County has agreed to cover, subject to
a number of contingencies, the potential City operating deficits from the Otay Ranch Project
that the City might incur through FY 2016~17; and
WHEREAS, the Reserve Fund Program shall finance the cost of an annual review and
an updated fiscal impact analysis, as performed by the Fiscal Impact of New Development
(FIND) Model as described in the Property Tax Transfer Agreement for Otay Ranch. The FIND
Model produces a representation of City and County fiscal impacts for any given year and
throughout the Otay Ranch project's buildout period; and
WHEREAS, the GDP requires a Reserve Fund Program to be established concurrent
with the approval of the first SPA, to correct any annual operating deficiencies incurred by the
City; and
WHEREAS, the GDP requires the applicant to be financially responsible for any
operating deficiencies.
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL of the City of Chula
Vista does hereby find, determine, resolve, and order as follows:
I. CONSISTENCY WITH THE GENERAL PLAN
The proposed Project is consistent with the General Plan for the following reasons:
A. THE PROPOSED OTAY RANCH RESERVE FUND PROGRAM IS IN CONFORMITY
WITH THE OTAY RANCH GENERAL DEVELOPMENT PLAN AND THE CHULA VISTA
GENERAL PLAN
The Otay Ranch Reserve Fund Program advances the goal of the Otay Ranch GDP that,
"new development pay its own way."
B. THE PROPOSED RESERVE FUND PROGRAM WILL PROMOTE THE ORDERLY
SEQUENTIALIZED DEVELOPMENT OF THE INVOLVED SECTIONAL PLANNING AREA.
Resolution 18288
Page 2
The Reserve Fund Program advances the goals, objectives, and policies of the Otay
Ranch GDP and the City of Chula Vista by assuring the efficient and timely provision
of public services and facilities to developable areas of the Otay Ranch concurrent with
need by identifying a funding source that will correct any annual operating deficiencies
incurred by the applicable jurisdiction.
II. ESTABLISHING OF RESERVE FUND
The City Council hereby establishes a Reserve Fund Program, in accordance with the
GDP, said Program shall consist of the following:
a. The Developer and/or Applicant shall pay a fee, adopted by ordinance by the
City Council, to pay for the financing of the cost of an annual review and an updated
fiscal impact analysis, as performed by the Fiscal Impact of New Development (FIND)
Model. The FIND Model produces a representation of City and County fiscal impacts
for any given year and throughout the Otay Ranch project's buildout period,
b. The Property Tax Transfer Agreement, entered into with the County, by
Resolution No. 18261, wherein the County has agreed to cover, subject to a number
of contingencies, the potential City operating deficits from the Otay Ranch Project that
the City might incur through FY 2016-17.
III. AMENDMENTS TO RESERVE FUND
i'
The City Council may amend the Reserve Fund Program, from time to time, to include
additional fees to cover any potential City deficits that may not be covered by the Reserve
Fund Program, as adopted herein.
IV. NONCOMPLIANCE
Failure to comply with the terms of the Reserve Fund Program shall be considered a
violation of the GDP at which time the City shall have the right to revoke or modify all
approvals granted for the Otay Ranch Project, including issuance of building permits.
Presented by
City Attorney
Resolution 18288
Page 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 14th day of May, 1996, by the following vote:
AYES: Councilmembers: Alevy, Moot, Padilia, Rindone, Horton
NAYES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Shirley Horton, Mayor
ATTEST:
Beverly X. Authelet, City 'Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, Beverly A. Authelet, City Clerk of the City of Chula Vista, California, do hereby certify that
the foregoing Resolution No. 18288 was duly passed, approved, and adopted by the City
Council at a regular meeting of the Chula Vista City Council held on the 14th day of May,
1996.
Executed this 14th day of May, 1996.
Beverly/A. Authelet, City Clerk