HomeMy WebLinkAboutReso 1992-16511 RESOLUTION NO. 16511
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA FINDING THE PROPOSED PARKING DECK TO BE
CONSTRUCTED AT THE CHULA VISTA CENTER AND FUNDED IN PART
WITH REDEVELOPMENT AGENCY AND/OR CITY FUNDS IS OF
BENEFIT TO THE TOWN CENTRE II REDEVELOPMENT PROJECT AREA
The City Council of the City of Chula Vista does hereby resolve as follows:
WHEREAS, the Homart Development Company has proposed an expansion of the
Chula Vista Shopping Center to include a ten-plex movie theater, relocation of
a Sav-On Drug Store, construction of a Mervyn's Department store and construction
of a 670 space parking deck; and,
WHEREAS, implementation of this project requires financial assistance
approximating $2.6 million which is proposed to be provided by the Redevelopment
Agency in cash and through the issuance of Certificates of Participation or other
debt instruments for which the Redevelopment Agency may have ultimate
responsibility; and,
WHEREAS, the issuance of Certificates of Participation or other debt
instruments may require public ownership of the proposed parking structure; and,
WHEREAS, Section 33445 of the California Community Redevelopment Law
requires that when a redevelopment agency pays all or part of the value of land
or the cost of installation and construction of any building facility, or other
improvement and construction of any building facility structure or other
improvement which is publicly owned either within or without a redevelopment
project area, the legislative body must determine both of the following:
1. That the buildings, facilities, structures or other improvements are of
benefit to the project area or the immediate neighborhood in which the
project is located, regardless of whether the improvement is within
another project area, or in the case of a project area in which
substantially all of the land is publicly owned, that the improvement is
of benefit to an adjacent project area of the Agency.
2. That no other reasonable means of financing such buildings, facilities,
structures, or other improvements, are available to the community; and,
WHEREAS, the City Council has considered the merits of the proposed project
including the provision of additional tax increment revenues to the Redevelopment
Agency, additional sales tax revenues to the City of Chula Vista, an additional
goods and services to residents of the local community, and hereby determines
that the project and parking deck which is a part thereof is of benefit to the
Town Center II Redevelopmerit Project Area, the immediate neighborhood in which
the project is located and the general community; and,
WHEREAS, the City Council has considered other possible sources of revenue
including City General Funds, Redevelopmerit Agency Reserve Funds, Community
Development Block Grant Funds, and other sources of revenues which may, from time
Resolution No. 16511
Page 2
to time, be available to the community in addition to the reasonableness of
requi ring additional private financing from the Developer and has determined that
no other reasonable means of financing the project are available to the community
other than funds provided directly by the Agency and/or funds to be reimbursed
in whole or in part by the Agency.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby determine as follows:
1. That the expansion of the Chula Vista Mall including the construction of
a parking deck will be of benefit to the Town Centre II Redevelopment
Project Area, the immediate neighborhood in which the project is located
and to the community as a whole.
2. That there are no other reasonable means of financing the proposed parking
deck which are available to the community other than funds provided
directly by the Agency and/or funds to be reimbursed in whole or in part
by the Agency.
~hris Salomone Bruce M. Boogaard '
Community Development Director City Attorney
Resolution No. 16511
Page 3
PASSED, APPROVED and ADOPTED by the City Council of the City of Chula
Vista, California, this 25th day of February, 1992, by the following vote:
YES: Councilmembers: Grasser Horton, Malcolm, Moore,
Rindone, Nader
NOES: Councilmember: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
Tim Nader, Mayor
ATTEST:
Beverly/A. 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. 16511 was duly passed, approved,
and adopted by the City Council at a joint City Council/Redevelopment Agency
meeting held on the 25th day of February, 1992.
Executed this 25th day of February, 1992.
Beverly ~. Authelet, City Clerk