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HomeMy WebLinkAboutAgenda Statement 1987/05/07 Item . COUNCIL/REDEVELOPMENT AGENCY AGENDA STATEMENT Item Meeting Date 5/7/87 ITEM TITLE: Public Hearing: Adopting related resolutions and an ordinance A for approval of the Amended Town Centre II Redevelopment Plan SUBMITTED BY: Community Development Director REVIEWED BY: City Manager , / (4/5ths Vote: Yes No X ) A joint public hearing has been scheduled by the Redevelopment Agency and the City Council to hear public comments on the proposed Town Centre II Redevelopment Plan Amendment, which would grant the Agency the ability to collect tax increments for the Town Centre II Project Area. Following the public hearing the Council/Agency will consider adoption of certain resolutions and an ordinance, as required by State law, to approve the Redevelopment Plan Amendment. A schedule for the public hearing, including the introduction and approval of resolutions and ordinance, is attached as Exhibit A. RECOMMENDATION: That the Agency and Council hold a joint public hearing on the Town Centre II Redevelopment Plan Amendment and adopt the following resolutions and ordinance. 1 . Redevelopment Agency Resolutions a. Approving the Agency' s Final Report (Revised) on the Amended Town Centre II Redevelopment Plan; and authorizing the transmittal of its Final Report to the Chula Vista City Council . b. Adopting and certifying the Environmental Impact Report and authorizing the filing of a Notice of Determination on the Amended Town Centre II Redevelopment Plan for the Town Centre II Redevelopment Project Area. c. Finding that the use of taxes allocated from the Town Centre II Project Area for the purpose of improving and increasing the community' s supply of low- and moderate-income housing outside the project area will be of benefit to the project area. d. Approving the Amended Town Centre II Redevelopment Plan and directing the secretary of the Agency to transmit required redevelopment documents to the Chula Vista City Council . 2. City Council Resolutions and Ordinance a. Concurring with the Chula Vista Redevelopment Agency's approval and certification of the Environmental Impact Report on the Amended Town Centre II Redevelopment Plan. 1 Page 2, Item Meeting Date 5/7/87 b. Finding that the use of taxes allocated from the Town Centre II Redevelopment Project Area for the purpose of improving and increasing the community' s supply of low- and moderate-income housing I outside the project area will be of benefit to the project area. I c. Electing to receive the allocation of taxes pursuant to Section 33676 of the California Health and Safety Code. d. Ordinance approving and adopting the Amended Redevelopment Plan for the Town Centre II Redevelopment Project Area. BOARDS/COMMISSIONS RECOMMENDATION: On October 8, 1986 the Planning Commission approved the amended Preliminary Redevelopment Plan for the Town Centre II Redevelopment Project Area and submitted the plan to the Redevelopment Agency. On October 16, 1986, the Agency accepted the Preliminary Plan and authorized staff to process the proposed plan amendment. On March 25, 1987, the Planning Commission held a public hearing and certified the Final EIR for the amendment to the Town Centre II Redevelopment Plan and approved the submission of their report to the Redevelopment Agency. On April 2, 1987, the Town Centre Project Area Committee approved the proposed plan amendment and authorized the submission of their report to the Redevelopment Agency. The Redevelopment Agency, on April 7, 1987, approved the Final Report on the Amended Town Centre II Redevelopment Plan and authorized its submittal , along with the Amended Town Centre II Redevelopment Plan, to the Council and requested that the Council call a joint special public hearing for the amended plan. The Council , on April 7, 1987, accepted the Agency's submittal of the final report and the amended plan and called for the joint special public hearing. The Final Report has since been revised and is to be considered again for adoption. DISCUSSION: The joint public hearing to be held by the Redevelopment Agency and City Council this evening is the last public hearing to be held on the proposed Town Centre II Amended Redevelopment Plan. All relevant taxing jurisdictions, land owners and other interested parties have been informed of the preparation of the Environmental Impact Report and its certification by the Planning Commission, of the Planning Commission' s consideration of the amended redevelopment plan and the report on the amended plan, and of the public hearing and resolutions and ordinance being considered this evening. Following this evening' s meeting and adoption of the necessary resolutions and ordinance approving the Amended Town Centre II Redevelopment Plan, a Second Reading of the ordinance will be necessary. The Second Reading has been scheduled for the Council meeting of May 12, 1987. Page 3, Item Meeting Date 5/7/87 FISCAL IMPACT: Financial analysis of the expansion and renovation of the Chula Vista Shopping Center indicates that property tax revenues will increase from the current level of $172,000 to approximately $493,000 in the third year of operation following the renovation (1991 ). Of the $172,000 of base (1%) property tax revenues, approximately $32,000, or 18.6%, is received by the City of Chula Vista at this time. With implementation of the project and the plan amendment, that revenue flow to the City will remain constant. However, the Agency will receive 100% of the property tax increment from the project area for twenty-five years pursuant to an agreement with the County. These funds will go towards repayment of the Agency's debt resulting from implementation of the project. The chart attached as Exhibit B (Chart IV-8 in the Final Plan) projects increase in assumed valuation and the tax increments accruing to the Agency from the proposed shopping center project from FY 1979-80 through 2033-34. It should be noted that State law allows the Agency to use FY 1979-80 as the base year for the purpose of computing tax increments. WPC 2883H y the City Council of Chula Vista, California Dated 7/0 COUNCIL/REDEVELOPMENT AGENCY AGENDA STATEMENT Item Meeting Date 5/7/87 ITEM TITLE: Public Hearing: Adopting related resolutions and an ordinance for approval of the Amended Town Centre II Redevelopment Plan SUBMITTED BY: Community Development Director REVIEWED BY: City Manager q (4/5ths Vote: Yes No X ) A joint public hearing has been scheduled by the Redevelopment Agency and the City Council to hear public comments on the proposed Town Centre II Redevelopment Plan Amendment, which would grant the Agency the ability to collect tax increments for the Town Centre II Project Area. Following the public hearing the Council/Agency will consider adoption of certain resolutions and an ordinance, as required by State law, to approve the Redevelopment Plan Amendment. A schedule for the public hearing, including the introduction and approval of resolutions and ordinance, is attached as Exhibit A. RECOMMENDATION: That the Agency and Council hold a joint public hearing on the Town Centre II Redevelopment Plan Amendment and adopt the following resolutions and ordinance. 1 . Redevelopment Agency Resolutions a. Approving the Agency's Final Report (Revised) on the Amended Town Centre II Redevelopment Plan; and authorizing the transmittal of its Final Report to the Chula Vista City Council . b. Adopting and certifying the Environmental Impact Report and authorizing the filing of a Notice of Determination on the Amended Town Centre II Redevelopment Plan for the Town Centre II Redevelopment Project Area. c. Finding that the use of taxes allocated from the Town Centre II Project Area for the purpose of improving and increasing the community' s supply of low- and moderate-income housing outside the project area will be of benefit to the project area. d. Approving the Amended Town Centre II Redevelopment Plan and directing the secretary of the Agency to transmit required redevelopment documents to the Chula Vista City Council . 2. City Council Resolutions and Ordinance a. Concurring with the Chula Vista Redevelopment Agency's approval and 1\ certification of the Environmental Impact Report on the Amended Town Igo ` Centre II Redevelopment Plan. Page 2, Item Meeting Date 5/7/87 b. Finding that the use of taxes allocated from the Town Centre II Redevelopment Project Area for the purpose of improving and increasing the community' s supply of low- and moderate-income housing outside the project area will be of benefit to the project area. c. Electing to receive the allocation of taxes pursuant to Section 33676 of the California Health and Safety Code. d. Ordinance approving and adopting the Amended Redevelopment Plan for the Town Centre II Redevelopment Project Area. BOARDS/COMMISSIONS RECOMMENDATION: On October 8, 1986 the Planning Commission approved the amended Preliminary Redevelopment Plan for the Town Centre II Redevelopment Project Area and submitted the plan to the Redevelopment Agency. On October 16, 1986, the Agency accepted the Preliminary Plan and authorized staff to process the proposed plan amendment. On March 25, 1987, the Planning Commission held a public hearing and certified the Final EIR for the amendment to the Town Centre II Redevelopment Plan and approved the submission of their report to the Redevelopment Agency. On April 2, 1987, the Town Centre Project Area Committee approved the proposed plan amendment and authorized the submission of their report to the Redevelopment Agency. The Redevelopment Agency, on April 7, 1987, approved the Final Report on the Amended Town Centre II Redevelopment Plan and authorized its submittal , along with the Amended Town Centre II Redevelopment Plan, to the Council and requested that the Council call a joint special public hearing for the amended plan. The Council , on April 7, 1987, accepted the Agency's submittal of the final report and the amended plan and called for the joint special public hearing. The Final Report has since been revised and is to be considered again for adoption. DISCUSSION: The joint public hearing to be held by the Redevelopment Agency and City Council this evening is the last public hearing to be held on the proposed Town Centre II Amended Redevelopment Plan. All relevant taxing jurisdictions, land owners and other interested parties have been informed of the preparation of the Environmental Impact Report and its certification by the Planning Commission, of the Planning Commission's consideration of the amended redevelopment plan and the report on the amended plan, and of the public hearing and resolutions and ordinance being considered this evening. Following this evening's meeting and adoption of the necessary resolutions and ordinance approving the Amended Town Centre II Redevelopment Plan, a Second Reading of the ordinance will be necessary. The Second Reading has been scheduled for the Council meeting of May 12, 1987. Page 3, Item Meeting Date 5/7/87 FISCAL IMPACT: Financial analysis of the expansion and renovation of the Chula Vista Shopping Center indicates that property tax revenues will increase from the current level of $172,000 to approximately $493,000 in the third year of operation following the renovation (1991 ). Of the $172,000 of base (1%) property tax revenues, approximately $32,000, or 18.6%, is received by the City of Chula Vista at this time. With implementation of the project and the plan amendment, that revenue flow to the City will remain constant. However, the Agency will receive 100% of the property tax increment from the project area for twenty-five years pursuant to an agreement with the County. These funds will go towards repayment of the Agency's debt resulting from implementation of the project. The chart attached as Exhibit B (Chart IV-8 in the Final Plan) projects increase in assumed valuation and the tax increments accruing to the Agency from the proposed shopping center project from FY 1979-80 through 2033-34. It should be noted that State law allows the Agency to use FY 1979-80 as the base year for the purpose of computing tax increments. WPC 2883H the City Council of Chula Vista, California Dated __j_C:1140_1 !.i;!_____ 0 r V • . COUNCIL/REDEVELOPMENT AGENCY AGENDA STATEMENT Item Meeting Date 5/7/87 ITEM TITLE: Public Hearing: Adopting related resolutions and an ordinance for approval of the Amended Town Centre II Redevelopment Plan ASUBMITTED BY: Community Development Director , REVIEWED BY: City Manager q/ (4/5ths Vote: Yes No X ) A joint public hearing has been scheduled by the Redevelopment Agency and the City Council to hear public comments on the proposed Town Centre II Redevelopment Plan Amendment, which would grant the Agency the ability to collect tax increments for the Town Centre II Project Area. Following the public hearing the Council/Agency will consider adoption of certain resolutions and an ordinance, as required by State law, to approve the Redevelopment Plan Amendment. A schedule for the public hearing, including the introduction and approval of resolutions and ordinance, is attached as Exhibit A. RECOMMENDATION: That the Agency and Council hold a joint public hearing on the Town Centre II Redevelopment Plan Amendment and adopt the following resolutions and ordinance. 1 . Redevelopment Agency Resolutions a. Approving the Agency's Final Report (Revised) on the Amended Town Centre II Redevelopment Plan; and authorizing the transmittal of its Final Report to the Chula Vista City Council . b. Adopting and certifying the Environmental Impact Report and authorizing the filing of a Notice of Determination on the Amended Town Centre II Redevelopment Plan for the Town Centre II Redevelopment Project Area. c. Finding that the use of taxes allocated from the Town Centre II Project Area for the purpose of improving and increasing the community' s supply of low- and moderate-income housing outside the project area will be of benefit to the project area. d. Approving the Amended Town Centre II Redevelopment Plan and directing the secretary of the Agency to transmit required redevelopment documents to the Chula Vista City Council . 2. City Council Resolutions and Ordinance a. Concurring with the Chula Vista Redevelopment Agency's approval and certification of the Environmental Impact Report on the Amended Town Centre II Redevelopment Plan. Page 2, Item Meeting Date 5/7/87 b. Finding that the use of taxes allocated from the Town Centre II Redevelopment Project Area for the purpose of improving and increasing the community' s supply of low- and moderate-income housing outside the project area will be of benefit to the project area. 000cElecting to receive the allocation of taxes pursuant to Section 33676 . f the CalfoHelth d SftCod d. Ordinance approving and adopting the Amended Redevelopment Plan for the Town Centre II Redevelopment Project Area. BOARDS/COMMISSIONS RECOMMENDATION: On October 8, 1986 the Planning Commission approved the amended Preliminary Redevelopment Plan for the Town Centre II Redevelopment Project Area and submitted the plan to the Redevelopment Agency. On October 16, 1986, the Agency accepted the Preliminary Plan and authorized staff to process the proposed plan amendment. On March 25, 1987, the Planning Commission held a public hearing and certified the Final EIR for the amendment to the Town Centre II Redevelopment Plan and approved the submission of their report to the Redevelopment Agency. On April 2, 1987, the Town Centre Project Area Committee approved the proposed plan amendment and authorized the submission of their report to the Redevelopment Agency. The Redevelopment Agency, on April 7, 1987, approved the Final Report on the Amended Town Centre II Redevelopment Plan and authorized its submittal , along with the Amended Town Centre II Redevelopment Plan, to the Council and requested that the Council call a joint special public hearing for the amended plan. The Council , on April 7, 1987, accepted the Agency's submittal of the final report and the amended plan and called for the joint special public hearing. The Final Report has since been revised and is to be considered again for adoption. DISCUSSION: The joint public hearing to be held by the Redevelopment Agency and City Council this evening is the last public hearing to be held on the proposed Town Centre II Amended Redevelopment Plan. All relevant taxing jurisdictions, land owners and other interested parties have been informed of the preparation of the Environmental Impact Report and its certification by the Planning Commission, of the Planning Commission's consideration of the amended redevelopment plan and the report on the amended plan, and of the public hearing and resolutions and ordinance being considered this evening. Following this evening' s meeting and adoption of the necessary resolutions and ordinance approving the Amended Town Centre II Redevelopment Plan, a Second Reading of the ordinance will be necessary. The Second Reading has been scheduled for the Council meeting of May 12, 1987. V Page 3, Item Meeting Date 5/7/87 FISCAL IMPACT: Financial analysis of the expansion and renovation of the Chula Vista Shopping Center indicates that property tax revenues will increase from the current level of $172,000 to approximately $493,000 in the third year of operation following the renovation (1991 ). Of the $172,000 of base (1%) property tax revenues, approximately $32,000, or 18.6%, is received by the City of Chula Vista at this time. With implementation of the project and the plan amendment, that revenue flow to the City will remain constant. However, the Agency will receive 100% of the property tax increment from the project area for twenty-five years pursuant to an agreement with the County. These funds will go towards repayment of the Agency' s debt resulting from implementation of the project. The chart attached as Exhibit B (Chart IV-8 in the Final Plan) projects increase in assumed valuation and the tax increments accruing to the Agency from the proposed shopping center project from FY 1979-80 through 2033-34. It should be noted that State law allows the Agency to use FY 1979-80 as the base year for the purpose of computing tax increments. WPC 2883H the City Council of Chula Vist , Calfornia f Dated � �?