HomeMy WebLinkAboutRDA Packet 1994/06/21
Tuesday, Juue 21, 1994 Council Chambers
6:00 p.m. Public Services Building
(immediately following the City Council meeting)
Adjourned Soecial Meeting of the Redevelooment Aeencv
of the Citv of Chula Vista
and a
Reeular Meeting of the Redevelooment Aeencv of the Citv of Chula Vista
CALL TO ORDER
1. ROLL CALL: Members Fox -, Horton -, Moore -, Rindone -, and
Chainnan Nader -'
2. APPROVAL OF MINUTES: May 3, 1994; May 23, 1994; May 26, 1994; and June I, 1994
CONSENT CALENDAR
(Items 3 through 4)
The staff recommendations regarding the following iiems listed under the Consent Calendar will be enacted by
the Agency by one motion wiihout discussion unless an Agency Member, a member of the public or City staff
requests that the item be pulled for discussion. If you wish to speak on one of these items, please fill out a
"Request to Speak Form" available in the lobby and submii it to the Secretary of the Redevelopment Agency or
the City Clerk prior to the meeting. (Complete the green form to speak in favor of the staff recommendation;
complete the pink form to speak in opposiJion to the staff recommendation.) Items pulled from the Consent
Calendar will be discussed after Action Items. Items pulled by the public will be the first iiems of business.
3. WRITTEN COMMUNICATIONS: None submitted.
4. RESOLUTION 1410 AMENDING THE TOWN CENTRE I SIDEWALK CAFÉ
POLICY--In 1982 the Redevelopment Agency approved the
establishment of the Town Centre I Sidewalk Café Policy. Since
adoption of the policy, only a few sidewalk cafés have been set up for
short periods of time. With the idea of encouraging restaurant, coffee
shop, and bakery operators to set up sidewalk cafés, staff has reviewed
the existing policy. The proposed amendment to the existing policy is
being presented for consideration and approval. Staff recommends
approval of the resolution. (Community Development Director)
* * END OF CONSENT CALENDAR * *
Agenda -2- June 21, 1994
PUBLIC HEARINGS AND RELATED RESOLUTIONS AND ORDINANCES
The following items have been ndvertised and/or posted as public hearings as required by law. If you wish to
speak to any iJem, please fill out the "Request to Speak Form" available in the lobby and submit it to the
Secretary of the Redevelopment Agency or the City Clerk prior to the meeting. (Complete the green form to speak
infavorofthe staffrecommendation; complete the pinkformto speak in opposiJionto the staffrecommendation.)
Comments are limited to five minutes per individual.
None submitted.
ORAL COMMUNICATIONS
This is an opportunity for the general public to address the Redevelopment Agency on any subject matter within
the Agency's jurisdiction that is not an item on this agenda. (State law, however, generally prohibiJs the
Redevelopment Agency from taking action on any issues not included on the posted agenda.) If you wish to
address the Council on such a subject, please complete the yellow" Request to Speak Under Oral Communications
Form" available in the lobby and submiJ it to the Secretary to the Redevelopment Agency or City Clerk prior to
the meeting. Those who wish to speak, please give your name and address for record purposes and follow up
action. Your time is limiJed to three minutes per speaker.
ACTION ITEMS
The iJems listed in this section of the agenda are expected to eliciJ substantial discussions and deliberations by
the Agency, staff, or members of the general public. The iJems will be considered individually by the Agency
and staff recommendations may in certain cases be presented in the alternative. Those who wish to speak, please
fill out a "Request to Speak" form available in the lobby and submiJ iJ to the Secretary to the Redevelopment
Agency or the City Clerk prior to the meeting. Public comments are limited to five minutes.
5. RESOLUTION 1390 ADOPTING THE REDEVELOPMENT AGENCY BUDGET FOR
FY 1993-94 AND APPROPRIATING FUNDS THEREFOR--
ITEM #5 IS AN ADJOURNED SPECIAL MEETING ITEM--The
FY 1993-94 Redevelopment Agency Budget was reviewed as part of
the City budget approval process. As the Redevelopment Agency is a
separate legal entity, it is necessary to approve the budget separately as
reqnired by California Community Redevelopment Law. The formal
Agency adoption of the budget had been delayed in order to determine
the full impact of State budget resolutions and to complete the
evaluation of staffing needs for the Economic Development function in
the Community Development Department as directed by City Couucil
during and subsequent to the City's budget review process. Continued
from the meetine of 6/7/94. Staff recommends approval of the
resolution. (Administration)
AND
6. RESOLUTION 1411 ADOPTING THE REDEVELOPMENT AGENCY BUDGET FOR
FY 1994-95 AND APPROPRIATING FUNDS THEREFOR--
ITEM #6 IS A REGULAR MEETING ITEM--The FY 1994-95
Redevelopment Agency Budget was reviewed as part of the City budget
approval process. As the Redevelopment Agency is a separate legal
entity, it is necessary to approve the budget separately as reqnired by
_...- ..
Agenda -3- June21,1994
Califomia Community Redevelopment Law. Staff recommends
approval of the resolution. (Administration)
ITEMS PULLED FROM THE CONSENT CALENDAR
This is the time the Redevelopment Agency will discuss iJems which have been removed from the Consent
Calendar. Agenda items pulled at the request of the public will be considered prior to those pulled by Agency
Members. Public comments are limited to five minutes per individual.
OTHER BUSINESS
7. DIRECTOR'S REPORT(S)
8. CHAIRMAN'S REPORTIS)
9. MEMBERS' COMMENTS
ADJOURNMENT
The meeting will adjourn to the Regular Redevelopment Agency Meeting on Jnly 19, 1994 at 6:00 p.m.,
immediately following the City Council meeting, in the City Council Chambers.
******
COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT
The City of Chnla Vista, in complying with the Americans With Disabilities Act (ADA), request
individuals who reqnire special accommodations to access, attend, and/or participate in a City
meeting, activity, or service request such accommodation at least forty-eight hours in advance for
meetings and five days for scheduled services and activities. Please contact the Secretary to the
Redevelopment Agency for specific information at (619) 691-5047 or Telecommunications Devices
for the Deaf (TDD) at (619) 585-5647. California Relay Service is also available for the hearing
impaired.
[C:I WPS I IAGENCYIAGENDASIO6-21-94.AGD]
Thís yage íntentíonaIIy ltft blank.
MINUTES OF A REGULAR MEETING OF THE REDEVELOPMENT AGENCY
OF THE CITY OF CHULA VISTA
Tuesday, May 3, 1994 Council Chambers
8:05 p.m. Public Services Building
CALL TO ORDER
1. ROLL CALL:
PRESENT: Members Fox, Horton, Moore, Rindone, and Chairman Nader
ALSO PRESENT: John D. Goss, Executive Director; Bruce M. Boogaard, Agency Genera!
Counsel; Susan Merrill, Interim Finaoce Administrator; Carla Griffin,
Administrative Secretary; and Berlin Bosworth, Secretary to the Redevelopment
Agency
2. APPROVAL OF MINUTES: None.
CONSENT CALENDAR
(Item pulled: 4)
BALANCE OF THE CONSENT CALENDAR OFFERED BY MEMBER HORTON, reading of the text was
waived, passed and approved unanimously.
3. WRITTEN COMMUNICATIONS: None.
4. RESOLUTION 1401 APPROVING A SIDEWALK CAFÉ PROPOSAL FROM NUTS OVER
YOGURT SHOP AT 310 THIRD AVENUE, SUITE C-9 AND WAIVING THE ANNUAL FEE FOR THE
USE OF THE PUBLIC RIGHT-OF-WAY--The owner of Nuts Over Yogurt is proposing to locate a 105 square
foot sidewalk café adjacent to the shop. The Town Centre Sidewalk Café Policy allows sidewalk cafés under certain
conditions subject to Agency approval. One said condition is the payment of an annual fee. Staff recommends the
fee be waived. Staff recommends approval of the resolution with certain conditions. (Community Development
Director) Pulled from the Consent Calendar.
Member Rindone asked the cost of the encroachment fee.
Miguel Tapia, Community Development Specialist, replied it was between $100 and $150.
Member Rindone im¡uired whether that was a one-time fee or an annual fee.
Mr. Tapia noted it was a one-time fee.
RESOLUTION 1401 OFFERED BY MEMBER RlNDONE, reading of the text was waived.
Member Fox wauted to know how long the process for Nuts Over Yogurt took. He had heard a complaint it was
an inordinate amouut of time.
Mr. Tapia stated the process took several steps and at one point there was concern from the Engineeriug Department
regarding the manner in which the iron rail was to be installed which took time to resolve.
Chair Nader pointed out the question was how long the process took--from the time the project was first suggested
to staff until it was agendized for tonight's meeting.
Mr. Tapia estimated it was six to eight weeks.
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Minutes
May 3, 1994
Page 2
Chair Nader asked Mr. Salomone if he concurred.
Mr. Salomone replied it was about eight weeks.
Chair Nader asked if the project was in some other department before it reached Community Development.
Brent Toogood, owner, Nuts Over Yogurt, 310 Third Avenue, Chula Vista, CA 91910, said the project had first
been presented to staff at the beginning of 1994.
Member Fox asked if staff was developing a policy which would handle futore requests for outdoor cafés.
Mr. Salomone stated staff would like to develop a policy.
Member Fox thought not having a current policy would somewhat explain the delay. Having a policy would help
to encourage additional outdoor cafés which would add to the ambience to the downtown area. Who was developing
the policy? Would it go before any commission?
Mr. Salomone noted Community Development would be developing the policy. It would be brought before the
Project Area Committee and most likely the Design Review Committee prior to coming before the Ageucy.
Member Moore pointed out a policy had been adopted sometime ago and the policy should be updated.
Mr. Tapia acknowledged there was an existing policy adopted in the mid-1980s. Staff was reviewing that policy
with the intent to update and revise it and bring it back before the Agency.
Chair Nader pointed out there had been several projects in the recent past which seemed to take an inordinate
amount of time to go through the process. Four months for the Nuts Over Yogurt request to be processed was
rather excessive, even accounting for the fact it had to go before the Project Area Conunittee. Will the revised
policy cut down the amouut of time this type process takes?
Mr. Salomone said yes.
Chair Nader asked when the revised policy would be coming back to the Agency.
Mr. Tapia replied it would come back iu June 1994.
Chair Nader asked the Clerk to make sure the item was on the second regular Agency June 1994 meeting had staff
not brought the item back prior to then. Otherwise, staff was to make a report on the status of the revisions to the
policy.
Mary Coburn, Town Manager, Downtown Business Association, 360 Third Avenue, Chula Vista, CA 91910, asked
the Agency to consider waiving the one-time encroachment permit fee as well as making an apology to Mr. Toogood
for the delay. It was her belief he suffered a business loss by not being able to have the sidewalk café operating
sooner.
Member Fox asked the amount of that fee.
Mr. Tapia stated the fee was approximately $125.
MOTION [FoxlNader] to amend Resolution 1041 to waive the encroachment fee.
Member Moore could not support waiving the fee as the business would be encroaching on public property.
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Minutes
May 3, 1994
Page 3
Chair Nader said he wanted to encourage staff to deal with requests more expeditiously. This was not the only
concern he had heard about permitting procedures in the Town Centre area. The use would generate more in City
revenues thau the fee.
Member Rindone noted the $210 annual sidewalk fee was being waived for the next two years.
Brent Toogood asked about the fee for bolting down newspaper racks and those racks that contaiued apartment rental
publications on City sidewalks.
Mr. Boogaard stated there was a licensing ordinance administered by the Police or Finance Department which
covered that issue.
Member Rindone noted the staff report, first paragraph, page 4-2, stated the applicant had requested the fee be
waived. The applicant was now saying he did not know about the encroachment fee.
Mr. Tapia replied he was not aware the applicant did not understand there was a fee. Staff provided information
to the applicant relating to the encroachment permit.
VOTE ON MOTION: Failed, 2-2-1, with Moore and Rindone opposed; Horton absent.
VOTE ON RESOLUTION 1401: passed and approved 3-1-1, with Moore opposed; Horton absent.
5. RESOLUTION 1402 WAIVING CONSULTANT SELECTION PROCESS AND APPROVING
AGREEMENT WITH LEEDSHILL-HERKENHOFF, INC. FOR CONSTRUCTION LIAISON SUPPORT
FOR THE WIDENING OF OTAY VALLEY ROAD--On 3/15/88 the Agency approved an agreement with
Leedshill-Herkenhoff, Inc. for preparation of engineering and enviromuental studies for the widening of Otay Valley
Road. Coustruction of Phase 1 (from 1-805 to Nirvana Avenue) is underway. Bids for Phases 2 and 3 (from
Nirvana Avenue to the easterly City limits and from the easterly City limits south to the Otay Rio subdivision,
respectively) will be received 5/11194. The proposed contract provides for construction liaison support services,
on an as-needed basis, during the construction of all three phases. Staff reconunends approval of the resolution.
(Director of Public Works-Engineering)
6. RESOLUTION 1403 APPROVING AN AMENDMENT TO OWNER PARTICIPATION
AGREEMENT WITH IDM SATELLITE DIVISION, INC., FOR THE REMODELLING OF BUILDING AT
311 F STREET--On 4/5/94 the Agency approved and Owner Participation Agreement (OPA) with IDM Satellite
Division, Inc. for the remodelling of 311 F Street. Subsequent to approval of the OP A the applicant had to make
changes to the floor plans. The change reqnires the OPA be amended. Staff recommends approval of the
resolution. (Conununity Development Director)
Chris Salomone, Conununity Development Director, informed the Agency the applicant had requested Item 6 be
continued to the next regular Agency meetiug.
Chair Nader stated part of the Consent Calendar reconunendation would be to continue Item 6 to the next regular
Agency meeting.
Member Moore asked if staff had been advised.
George Krempl, Deputy City Manager, said the applicant could continue to make substantive progress on the
bnilding and pull demolition and foundation permits and proceed incrementally.
* * END OF CONSENT CALENDAR * *
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Minutes
May 3, 1994
Page 4
PUBLIC HEARINGS AND RELATED RESOLUTIONS AND ORDINANCES
None Submitted.
ORAL COMMUNICATIONS
None.
ACTION ITEMS
7. AGENCY
RESOLUTION 1400 AUTHORIZING APPOINTMENT OF BOND UNDERWRITER, BOND
COUNSEL, AND FINANCIAL ADVISOR FOR THE PROPOSED NEGOTIATED SALE OF BONDS IN
THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $30,000,000 FOR ADVANCE
REFUNDING OF THE 1986 TAX ALLOCATION BONDS ISSUED BY THE REDEVELOPMENT AGENCY
OF THE CITY OF CHULA VISTA FOR THE BAYFRONT/TOWN CENTRE REDEVELOPMENT
PROJECT, WAIVING THE CONSULTANT SELECTION PROCESS FOR SAID PERSONS, AND
APPROPRIATING FUNDS IN THE AMOUNT OF $25,000 FOR THE FINANCIAL ADVISOR--The Agency
authorized pursning advance refunding of the 1986 Tax Allocation Bonds on 12/28/93. The Agency is now asked
to appoint the Bond Counsel, Underwriter, and authorize staff to review the need for a Financial Advisor as well
as evaluate additioual financing mechanisms. Actual approval of the sale of the Refunding Bonds would be
presented to the Agency in Juue 1994 assuming tax-exempt interest rate levels remain low, and the successful
completion of a validation proceeding now in progress. Staff reconunends approval of the resolution. (Assistant
City Manager/Financial Administrator) {4/5ths Vote Required]
Susan Merrill, Interim Finance Administrator, noted what was before the Agency was the first action to refunding
the Bayfront/Town Centre Redevelopment 1986 Bonds. Staff requested the Agency appoint the Bond Underwriter,
Bond Counsel, and Financial Advisor for the issuance as authorized at the December 28, 1993 Agency Special
Meeting. Staff waived the consultant selection process because of the intticacies of the Issue. Staff would return
to the Agency with a reconunendation on the actual funding mechanisms.
Member Rindone asked why the request took five months to come back to the Agency.
Ms. Merrill replied the validation process was ongoing and would not be completed for two weeks. There would
be a 60-day waitiug period beyond that to do the validation process.
Bruce M. Boogaard, Agency General Counsel, informed validation processes normally go by default, but in the case
of this Issue, a concerned citizen filed a Response and the City was able to answer the concerned citizen's Question.
The citizen was satisfied with the City's response and withdrew his Answer so as to allow the validation proceeding
to go back on the default track as opposed to go to trial.
Member Rindone im¡nired as to what a validation proceeding consisted.
Mr. Boogaard responded it validated the various legal aspects to the particular Issue; specifically, the adoption of
Ordinance 2585 which corrected an error in a prior Ordinance capping the tax increment the City was entitled to
receive. It also validated certain other aspects of the proposed transaction. The value of the validation proceeding
was that bond holders would be able to rely on a Court Judgement fiually settling any sensitive legal issues so the
Issue would receive a higher rating and a lower interest cost.
Member Rindone asked if the name of the concerned citizen was public information and could that be shared.
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Minutes
May 3, 1994
Page 5
Mr. Boogaard stated the citizen was Mr. Joseph Garcia. He was very forthright about getting the facts, and once
he received the facts, he was very fair to the Agency about withdrawing his concerns.
Member Rindone desired to know why a Secondary Underwriter was recommended.
Ms. Merrill noted the Secondary Underwriter had been in contact with the former Finance Director. Having both
Underwriters being able to help on the complex refunding Issue would be advantageous to the City.
Member Rindone queried the standard practice for an Issue of this complexity.
Ms. Merrill said it was a standard practice within various cities.
Member Rindone asked how the Secondary Underwriter was determined.
Ms. Merrill stated the firm, having considerable expertise in this area, had put a tremendous amount of time and
effort into the refunding and had worked with the former Finance Director.
Member Rindone asked if the selection process for the Secondary Underwriter was a recommendation of a
Department Head. How was the Secondary Underwriter determined?
Ms. Merrill contended it was the recommendation of various staff to the City Manager.
Member Rindone asked the Executive Director if it was his reconunendation or was it staff's reconunendation which
he supported.
John D. Goss, Executive Director, said it was his recommendation.
Member Rindone sought clarification as to how the Secondary Underwriter was selected over other Secondary
Underwriters.
Mr. Goss noted it was based on his knowledge and evaluation. The Secondary Underwriter had completed previous
work for the City. Both the former Department Head and he felt the Secondary Underwriter could add expertise
to the overall process.
Member Rindone, pointing to page 7-2, third paragraph, of the staff report, noted the fixed rate refunding and the
fixed-to-floating interest rate swap and asked staff to explain that paragraph in layman terms.
Mr. Don Rice, Grigsby Branford & Company, Inc., stated a fixed-to-floating interest rate swap was a way of
convertiug a portion of fixed rate debt to a floating rate basis for an interim time period through a contractual format
as opposed to changing the character of the uuderlying debt itself.
Member Rindone wanted to know how or what portion of the original $36 million Issue was determined to be placed
in that category.
Mr. Rice responded it would be based upon market conditions as one approached the execution of the transaction.
lt would be for a portion of the Issue and that had not been determined at this point in titne.
Member Rindone stated that was a method which could be utilized should the refunding be deemed to be feasible.
Mr. Rice concurred.
Member Rindone asked how the reconunendation for the Bond Counsel was determined.
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Minutes
May 3, 1994
Page 6
Ms. Merrill replied Jones, Hal1. Hill & White have extensive knowledge of the City and Redevelopment Agency,
and have been Bond Counsel on many Issues for the City. The firm was the Bond Counsel on the City's PERS
Issue which was fiualized two weeks prior.
Mr. Boogaard added Bond Counsel signed an Agreement with the City in 1985 to provide, in al1 circumstances,
Bond Counsel services. The existing contract had a cancellation clause, by either party at any time. However, it
was ongoing uutil cancelled.
Member Rindone asked if that firm had worked for the City previously.
Ms. Merrill poiuted out the firm was the Bond Counsel for the City's PERS Refunding Obligation.
Mr. Boogaard thought the firm had been Bond Counsel on every Issue since 1985.
Member Rindone asked how the Primary Underwriter was determined.
Ms. Merrill noted the firm suggested the use of derivative products to enhance the return to the Redevelopment
Agency. There were very few Underwriters within the United States who have done any type of municipal
derivative product. It was not an area staff would look into lightly. Staff wanted to do a tremendous amount of
analysis. There was a good chance the City may not have to use derivatives to enhance the refunding. Staff would
be retorning to the Agency with an analysis in order to get the Agency's fiual verification before the actual
refunding would take place.
Member Rindone remarked if that was not a determination of staff, then that was just an option that particular
Primary Underwriter has featured or focused on, but has not necessarily determiued was going to be the avenue
pursued for the refunding financing.
Ms. Merrill stated that was correct.
Member Rindone, referring to staff report, page 7-2, next to last paragraph, noted Grigsby offers the capacity to
execute these derivative transactions and are one of the few Underwriters having this ability. Would it be safe to
assume they were not the sole source for that capability.
Ms. Merrill said that was so. There were other firms with that ability. Merrill Lynch, she believed, had its own
derivatives subsidary as well as several others.
Member Rindone, referring to staff report, page 7-2, last paragraph, it was indicated in staffs reconunendation that
Grigsby has agreed to an up-frontfee of 1 % which was very benrificial to the City as most rates compare from 1.3%
to 2 %. Had the City compared this rate and how does staff know that was reflective of what would be in the best
interest of the City.
Ms. Merrill cited as an example the PERS Refunding which Grigsby Brandford did at 1.3% and that the current
Issue would be quite a bit less. Staff had checked prior rates paid by the City and the 1 % rate was less than prior
rates.
Member Rindone noted the request to waive the RFP competitive bidding process and asked the basis for that
reconunendation.
Ms. Merrill responded the Underwriter was one of a very few firms who had done that type refunding. Because
of the transition with Finance Directors, she reconunended the City have a Financial Advisor on board in order to
maintain continuity and knowledge. Kelling, Northcross & Nobriga, Inc., have done derivative products and have
extensive background within cities as financial advisors within the State of Califonùa.
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Minutes
May 3, 1994
Page 7
Member Rindone asked when staff was first aware there might be the possibility of refinancing the Redevelopment
Agency 1986 Tax Allocation Bonds.
Ms. Merrill acknowledged she did not know the history of the particular matter.
Mr. Goss stated proposals had been made around November 1993 by the two firms being discussed. When the idea
was approached seriously, staff then worked diligently to bring the item to this point.
Member Rindone, noting his perplexity, pointed out the normal procedure when this was anticipated, was to put
the item out for bid. Why had that not been done in November or December 1993?
Mr. Goss replied the main point was timing. There was a favorable bond market at that time. A consideration was
the time it would take to make the selection by going through the competitive bidding process. Clearly, if staff had
gone through the selection process, it would have taken substantially longer to get to the point where staff was at
today with the refunding.
Member Rindone im¡uired as to the typical length of time for the selection process had it gone out for competitive
bidding.
Ms. Merrill said it would take three to four weeks to issue the RFP and auother month to allow for response. Staff
would then have to evaluate the responses before making a recommendation. The entire process would more than
likely take three to four months.
Member Rindone noted the process was now in its fifth month. The RFP process would OIÙY have taken three to
four months. Why would that not have been an avenue pursued by staff?
Ms. Merrill pointed out staff was not aware, at that poiut in time, there would be a Response filed which has
affected the timeframe for the refunding Issue.
Mr. Goss noted the idea of the bond refunding had been first been considered iu December 1993. The process was
started at the end of December 1993 and early January 1994. If an RFP selection process had been added to the
timeframe, staff would not be bringing the item before the Agency this evening. It would more likely not be coming
before the Agency for another couple of months.
Member Rindone asked if Agency action tonight would allow financiug to conunence with the preparation of the
bonds for sale since there was now not adequate titne to go our for an RFP, or because this was a team staff had
confidence in.
Ms. Merrill said it was a team she had very much confidence with. She did not believe the Agency could find
another team with the knowledge to do the various types of alternative financings for the City.
Member Rindone wanted to know if the City had any other expression of interest and willingness to participate in
the refunding Issue.
Ms. Merrill did not know of any.
Member Rindone asked if this was the first time the Agency was asked to waive the competitive process for a
refinance Issue.
Ms. Merrill did not believe so.
Mr. Goss pointed out Couucil took action to waive the bidding process for refunding the PERS Obligation.
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Minutes
May 3, 1994
Page 8
Member Rindone asked if it was not good practice to periodically be sure the City went out for competitive bid.
No one is questioning the iutegrity of any of the four companies. It appeared there seemed to be a pattern. Unless
the City's back was against the wall, or there seemed to be a precipitous change in the market analysis in anticipated
bond rates, it was in the public's best interest to always ensure that the City had been aggressive in being open and
competitive. He did not uuderstand, with the period in excess of five months, why that had not been done.
Ms. Merrill stated staff believed, in December 1993, the Issue could be fast-tracked. Staff had not been able to
do so because of various types of new information which caused the Issue to be delayed.
Mr. Goss said it was his belief it was a very good idea to go out on a regular RFP process if these types of Issues
were the norm. With a City of this size it was not the norm. The PERS Issue and the Bayfront Issue was the amy
two the City would be doing. Because of the delays which occurred with this refunding, it did not move along as
anticipated. He felt comfortable with the proposed percentage rate to do the work. The reasons for issning an RFP
was to select the quality of the team involved, and the rate. The rate on this Issue was below the market. It would
have been better to go out with an RFP. When staff was looking at the Issue in November/December, the effort
was to get to the market as quickly as possible to save the Agency money.
Member Rindone did not disagree with that intent. What caused the delay?
Mr. Goss replied iu terms of the validation process there was au Answer which was filed which took some time
to work through before it got to the type validation process which staff was going back to at this point.
Member Rindone desired to know how long that process took.
Mr. Boogaard replied the validation action was filed January 15, 1994 and legal counsel was just recently able to
settle the claim of the Answerer last Thursday (April 28, 1994).
Member Rindone asked if the City had a financial advisor when it when out for the PERS refunding.
Ms. Merrill stated the City did not.
Member Rindone asked why staff wanted a Financial Advisor.
Ms. Merrill said it was her reconunendation because of the transition within the Finance Departtnent.
Member Moore asked the firm name of the Primary Underwriter. What would they be doing for the City and who
were the other firms involved?
Steve Neilson, Vice President, Grigsby Brandford, San Diego Office, replied Grigsby Brandford would the Primary
Underwriter, which was an investtnent banking firm with headquarters in San Francisco. The Secondary Under-
writer was Donaldson, Lufkin & Jenrette; Bond Counsel was Jones Hall Hill & White; and Kelling, Northcross &
Nobriga was Financial Advisor.
Member Moore noted the reason the City looked for firms who employed professionals with these skills was to get
the City the best interest rate and package deal.
Mr. Boogaard pointed out the primary purpose of Bond Counsel, as retained, was to research and stand behind an
opinion that a particular interest paid by the City on a bond to bondholders was or was not tax exempt.
Mr. Neilson stated Bond Counsel would provide an opinion whether the securities were exempt from federal and
state income tax. Bond Counsel would also provide an opinion as to the validity and legality of the bonds.
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Minutes
May 3, 1994
Page 9
Member Moore asked if it was typical for the City to hire a major company who would provide certain skills--such
as Primary Underwriter, Secondary Underwriter, Bond Counsel--and could they all come from the same company.
Ms. Merrill said the Secondary Underwriter was a separate company. The Bond Couusel and Financial Advisor
were also from different firms.
Member Moore asked if this was a form of checks and balances.
Ms. Merrill stated it was very much so.
Member Moore asked about a derivative product that may enhance City savings and desired to know if that was
explained by saying fixed rate and fixed to fioaling interest rate.
Mr. Boogaard stated it proposed to add the term of what was otherwise a fixed rate into a variable rate for a shorter
period of time than the City would normally issue a bond for. It was his uuderstanding there would be two separate
documents: the City would issue the Bonds to a group of bondholders and then enter into a separate contract, for
example, with Grigsby, whereby Grigsby would pay the City, yearly, interest at a fixed rate. For example, using
8% as the annual return on $20 million would equate to $1.6 million. The City would promise to pay that company
interest on the same $20 million, each year, at whatever the index showed the variable rate to be. If the variable
rate was 6%, the firm would pay the City money; if the variable rate was 10%, the City would end up paying that
firm more money than it paid to the City.
Mr. Neilson said the use of derivative products was something that would take a lot of time to educate staff and
Council Members about. Grigsby had introduced derivatives as a possibility for a potential cost-saving mechanism.
Whether or not the use of derivatives made seuse would depend upon market conditions close to the time the sell
of the underlying bonds took place. Derivatives was mentioned only as a possibility, but by no means was there
any indication derivative products would be a part of the transaction.
Mr. Boogaard pointed out the Agency would have an opportunity to review the bond Issue should the Agency
approve the plan of the consultant, Mark Northcross. Staff would provide the Agency advice and a
reconunendation. Bond Counsel would do likewise.
Member Fox stated though he was not totally satisfied with the responses to Member Rindone's questious, he was
prepared to vote for the resolution as he was not aware of any other alternatives. His vote was predicated on the
item coming back before Council iu June 1994. Couucil should have mechanisms and safeguards in place when
the City does not go through a selection process. Early on in the process, when staff knows it will not be following
the consultant selection process, then Members need to be so advised. The Agency was ultimately responsible for
the process.
RESOLUTION 1400 OFFERED BY MEMBER FOX reading of the text was waived.
Member Rindone asked who was representing Kelling, Northcross & Nobriga.
Mr. Mark Northcross, Kelling, Northcross & Nobriga, with offices in Oakland, California, replied he was
representing the firm.
Member Rindone asked what Mr. Northcross looked for in an Underwriter.
Mr. Northcross said an Underwriter had been hired for two reasons: . the City needed to be very confident of the
Primary Underwriter's ability to underwrite and sell the type of securities the City would be offering to the market;
and, . the Primary Underwriter had to have the ability to structure and manage the actual debt process.
Member Rindone asked if Mr. Northcross had worked with companies other than Grigsby in the derivative field.
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Minutes
May 3, 1994
Page 10
Mr. Northcross replied there were Olùya few Underwriters which provided derivative products. There was a larger
universe of originators of derivative products such as insurance companies and banks. There was an advantage of
having a broker between the City and the providers of derivative products. The Underwriter served as a broker
between the City of Chula Vista and the universe of bond investors. The Underwriter, in this case, in their
derivative products group, serves essentially as the City's interface to the broader world of originators of derivative
products. The City could go directly to that universe. As an example, if a Member was to sell his/her home,
he/she could sell directly or through a real estate broker. The City could do the equivalent of for sale by owner
with derivative products by directly dealing with major European banks, global insurance companies, or other major
institutions. In this case, staff was recommending the Agency use a broker, Grigsby, for the transaction.
Member Rindone im¡nired if staff was making the determination there was a need to get to the market as soon as
possible. Based on the materia! presented, it seemed to be a valid assessment. Why was that not brought to the
Agency in December 1993 when the decision was made to go forward.
Mr. Goss stated he was not sure he could respond as he was not at the December 28, 1993 meeting. He would
have to ask the Agency Attorney who was at the meeting what occurred.
Mr. Boogaard said a resolution was passed by the Agency directing the validation action to proceed and correcting
the 1986 error in Ordinance 2146. The appointtnent of Underwriters was not discussed.
Member Rindone said he understood that but wanted to know when staff made the determination it would not go
forward with the RFP process.
Mr. Goss said he was not at that meeting. Staff should have indicated at that time that was the process that would
be used.
Member Rindone said that was not done. There was a great deal of discussion at that meeting about some Members
of the Agency not even being notified of the meeting. In fact, there was a very lengthy discussion as a result of
that. But at no time was there an indication there would be a change in process in which staff would not be seeking
or going out to RFP. When was that decision made by staff.
Mr. Goss responded it was his belief staff should have informed the Members at the December 28, 1993 meeting
that that was the only way to get to the market in a timely fashion to take advantage of the favorable rates.
Ms. Merrill informed Members all documents relating to the bond refunding had to be in place by the end of
calendar year 1993 due to AB1290. Various people had worked on the Issue in a quasi-authorized fashion.
Member Rindone replied there may be a number of good reasons and justifications but no answer was being given
to the question of when staff made the determination to pre-select firms. He was not questioning the ability of
Grigsby. He thought they were an outstanding firm. That was not the issue. The issue was: the Members were
not notified, and had not been uutil this meeting's Agenda was issued. When was the decision made?
Mr. Goss asked if the decision referred to, related to, whether or not to go out for RFPs, or to the decision as to
who would be reconunended.
Member Rindone said it referred to whether or not to go out to RFP.
Mr. Goss could not give a specific date, but believed it was made around December by staff.
Member Rindone asked why it was not then brought forth to the Member for approval at that time.
Mr. Goss said that was his question too. That information should have been passed on to the Members on
December 28.
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Minutes
May 3, 1994
Page 11
Member Rindone asked whose responsibility was that.
Mr. Goss replied it would have been the Finance Director's at that time. He was pushing for getting it done before
the begiuning of calendar year 1994.
Member Rindone asked who the Finance Director reported to.
Mr. Goss stated he reported to the City Manager and the City Manager was ultimately responsible. It was his
expectation that had happened.
Member Moore asked for an explanatiou of AB1290.
Mr. Salomone stated ABl290 was an omnibus redevelopment reform bill by the Legislatore. It did such things as
put caps on amouut of indebtedness an Agency could incur, the length of redevelopment for collecting that, the life
of a redevelopment area--all of that would go into effect uuder ABI290. These mandatory controls went into effect
on January 1, 1994.
Member Rindone said the decision had been made not to go out for bid and asked when the decision was made who
would be selected.
Mr. Goss replied the decision was made in the first part of 1994 and was a process where the former Finance
Director worked with Donaldson, Lufkin & Jemette as well as with the Grigsby firm. In terms of making the final
decision, that was made in the latter part of February.
Member Rindone wanted to know why it was not brought to the Agency at that time.
Mr. Goss did not recall the procedure at that point and did not know why it was not brought back to the Agency
at that time.
Member Rindone pointed out there were two competing public interests involved: . ensuring the most open process
always be followed and, . the process in which the most favorable response was ascertained on behalf of the
citizens, residents and ratepayers in the City. Based on what was iu the Agenda, the information indicated the three
firms and the financial adviser were extremely credible. He believed staff was extremely remiss in not getting
authorization to waive the RFP process. Staff was also remiss in its failure to seek prior approval from the Agency
as it knew it has been a standing practice of this Agency--while he has been a Member--the RFP process was to be
followed. An issue such as this had a tremendous impact and financial benefit to the City. Staff and the Agency
had to do everything possible to ensure the process was followed. If there was to be a variation from the process,
then at the earliest moment, staff was to notify the Members. He asked what the downside would be if the item
was not approved at tonight's meeting.
Mr. Goss responded the downside would be the City would probably miss an opportunity to do a refunding which
could be financially advautageous to the Agency. The City would miss an opportunity to extend the debt life of the
Agency which would therefore extend the life of the Agency.
Member Rindone asked what amounts of money were being discussed.
Mr. Boogaard replied there was a cap on the ability of the Agency to receive tax increment established under
Ordinance 2146 eight years ago which limited total receipts to $50 million and $20 million. That mistake needed
to be corrected, and the combined total for both Town Centre I and the Bayfront would be $210 million.
Member Rindone asked what the delay would entail if the Issue went out to RFP.
Mr. Boogaard replied the risk would be to miss a market interest opportunity that was apparently on the rise.
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Minutes
May 3, 1994
Page 12
Member Rindone desired to know the consequences should the Issue be put out to RFP.
Ms. Merrill stated one would need a crystal ball to know the answer.
Mr. Neilson, in replying to Member Rindone, stated it was his belief the City would be giving up time if the Issue
was not approved tonight. With the validation coming within several months, the firms staff was reconunending
would begin doing their jobs. However, Grigsby had been "crunching" numbers for several months and assisting
in getting the deal to this point. Now was the time, if the City wanted to be prepared to enter the market in July,
to put together the Disclosure. The refunding was very complicated as some of the prior bonds had been refunded
once and some twice. In order to be prepared in July, all documents, including Indentores, would have to be
completed and ready to go so that if the market was there, i.e., if interest rates were low enough to make the
refunding economical, the City would be prepared to do it. Should the City determine, at this point it wanted to
go out for an RFP for Underwriters then there would be further delay. What interest rates would do during that
two to three months, no one could say.
Member Rindone asked if the payment for the Bond for 1994 been paid.
Ms. Merrill stated payment was made on the actual due dates which was on a semi-annual basis.
Member Rindone asked why the City did not get tax-free bonds.
Ms. Merrill replied the City would get tax-exempt bonds.
Member Rindone said if the refunding Issue was supported tonight and the Issue went out in approximately 60
days--at this time, what was the best guess of the rate for the tax-free bonds.
Mr. N orthcross replied if the bonds could be sold tomorrow the rate would be in the low 6s. The financial benefit
to the City, at the current time, would approximate $150,000 yearly through 2011. That would enable the Agency
to leverage additional debt sufficient to fund a $2 million project within the existing debt service cash flow.
Chair Nader asked the consequences of a delay by going out for an RFP.
Mr. Northcross pointed out it depeuded on which way interest rates went. If the Agency delayed, it would be
betting interest rates would be staying the same or go down. He would not give the Agency any advice on how to
make that bet.
Member Moore said the bonds could be sold within two months if the Agency approved the item before it.
Should the item not be approved, it would be at least five months before the bonds would be at a point where they
could be put on the market.
Member Rindone pointed out he had asked the question earlier but wanted to ask it again. Had the City received
inqnires by any other Bond Underwriters or Secondary Underwriters in regard to any refinancing of this or other
actions of the Redevelopment Agency since November 1993?
Ms. Merrill was not aware of any.
Member Rindone noted the Agency, on December 28,1993, voted to refinance. He asked if firms in this business
were aware this was a possibility. Was that conunon knowledge? Was that knowledge available to those who
would have an interest in participating?
Ms. Merrill acknowledged the specific item may not be common knowledge. However, the knowledge of which
bonds are out in the marketplace would be common knowledge. The City had been contacted by both Grigsby
Brandford and Donald, Lufkin & Jemette with a request to look at the refinancing of the Issue under discussiou.
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Minutes
May 3, 1994
Page 13
Underwriters could look at documents available to them which listed the Agency's Bonds and could then contact
the City at any time. To her knowledge, no other firms had contacted the Finance Departtoent to date.
Chair Nader asked if other firms had im¡uired on other Issues.
Ms. Merrill stated none besides the two firms just mentioned.
Member Fox wanted to know if it was conunon knowledge that Grigsby had the deal and therefore there was no
interest by other Underwriters.
Ms. Merrill could not evaluate that.
Member Fox asked how people in the business would find out about a decision such as the one approved on
December 28, 1993 dealing with the 1986 Bond Refinaucing Issue.
Ms. Merrill noted the 1986 Bond Issues would be conunon knowledge. Underwriters knew legislation on AB 1290
was taking effect on January 1, 1994 and would have been looking at all redevelopment agencies' bonds Official
Statements to ascertain if there was the possibility of refunding. The Underwriters would normally approach a
redevelopment agency with a proposal.
Member Moore said the Underwriters must have a system for knowing what would be coming forth and pursue it
if they so desired.
Ms. Merrill said there were private contractors who had all Official Statements of all the cities in California.
Underwriters call these private contractors and inquire about a specific city.
Member Moore wanted to hear from the professionals on how they attracted business.
Mr. Neilson pointed out there was a data base by which an Underwriter could get the Ofticial Statement. On the
Statement's cover it stated what debt was outstanding, the particular Series of Bond, and what interest rates are paid.
There was cousiderable analysis which would have to be done. In the case of the 1986 Bond Issue, a firm would
need to find out if it would be an economic refunding as well as analyze a number of tax and legal considerations.
When the Agency took action last December and passed the resolution to go forward with the refunding, the way
an Underwriter would know about it was if it had been published in a local paper and the Underwriter had read the
article. Another way would be if an Underwriter had made a specific request to the City. That was a function of
an Underwriter being out there looking for business.
Chair Nader doubted Chula Vista had the only Redevelopment Agency in the State scrambling to beat the December
31, 1993 deadline with respect to AB1290.
Mr. Neilson noted, from the standpoint of an Underwriter, the actions the Agency had to take in regard to the
statutory requirements of ABl290 had nothing to do with whether the refunding was economical or not. That was
a function of what interest rate the Agency was paying on its existing bonds and what could the Agency pay in
today's market.
Member Rindone, referring to staff report, page 7-3, top of page, uoted Grigsby and Donaidson agreed to fee
wholly contingent on the sale of the Bonds and the realizing of econorrUc savings by the City. If the market were
uot favorable, and there was no economic saviugs by the City, then the Agency's action tonight would be negated
and there would be no cost to the City except the potential cost of the Financial Advisor which was also being
reconunended by staff. Was that a correct uuderstanding?
Ms. Merrill said yes. If the Agency did not refund the Bond Issue, the only cost to the City would be for the
Financial Advisor up to a limit of $25,000.
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Minutes
May 3, 1994
Page 14
Member Rindone im¡uired if there was enough savings to make it financial feasible to cover the 1 % fee, but not
enough to save the City money, would the City proceed.
Ms. Merrill replied the Agency would not proceed unless there was savings over the cost of issuance. Not only
was there the 1 % fee on the Underwriters, but there was a fee for Bond Counsel. Unless there was qnite a bit of
savings above those fees, staff would not reconunend going forward. When staff came back to the Agency, staff
would indicate the exact amount of savings the City would achieve so the Agency could make the determination to
proceed or not.
Member Rindone asked if it were fair to say if the savings to the City was not at least 1 % above the cost of
issuance, then there was no reconunendation to move forward.
Ms. Merrill answered, definitely.
Member Rindone noted all Members were interested in what was best for the fiscal souudness of the City. He was
appalled at the failure of staff, in more than one instance, of not indicating earlier to the Agency it was considering
not going out for RFP, but secondarily not informing the Agency who had been selected when the decision was
made. That was unacceptable and should not occur again. That was the responsibility of the City Manager's
Office. It was made clear in the staff report and ensning discussion on the item there was a competent and
experienced trio of firms and Financial Advisor which would oversee the Issue to ensure that what the Agency
directed would be followed through, with at least a minimal savings or there was no deal. It would be fiscally
imprudent to miss that opportunity.
VOTE ON RESOLUTION 1400: passed and approved 4-0-1, Horton absent.
8. AGENCY
RESOLUTION 1390 ADOPTING THE REDEVELOPMENT AGENCY BUDGET FOR FY 1993-94
AND APPROPRIATING FUNDS THEREFOR--The FY 1993-94 Redevelopment Agency Budget was reviewed
as part of the City budget approval process. As the Redevelopment Agency is a separate legal entity, it is necessary
to approve the budget separately as required by California Conununity Redevelopment Law. The formal Agency
adoption of the budget had been delayed in order to determine the full impact of State budget resolutions and to
complete the evaluation of staffiug needs for the Economic Development function in the Conununity Development
Departmeut as directed by City Couucil during and subsequent to the City's budget review process. This item was
continued from the meeting of ADril19 1993. Staffreconunends this item be continued to the meetine ofMav 17
1994. (Community Development Director)
MSC [NaderlMoore] to approve staff's recommendation to continue the item to the May 17, 1994 meeting,
4-0-1, with Horton absent.
OTHER BUSINESS
9. DIRECTOR'S REPORTlS)
Mr. Goss informed it was his intent to provide the Agency with additioual information and ratiouale as to why RFPs
were not typically used in bond Issue processes.
Chair Nader asked that be provided to the Members.
Member Rindone said the point was when the rationale was known, determined and a decision made not to go out
for an RFP, that was when it should be brought to the attention of Members.
.1-1<.(-
Minutes
May 3, 1994
Page 15
Mr. Goss concurred and would respond to that point as well.
10. CHAIRMAN'S REPORTlS\
Chair Nader discussed the ramificatious of how City regulations impact businesses in Chula Vista; specifically, the
sign regulations and the consequent impact on a business on E Street by having to remove a wall mural.
11. AGENCY MEMBER COMMENTS
Member Moore asked staff to respond in the near futore to the Council Referral on newspaper racks.
Mr. Boogaard replied staff would get the Referral back with diligence.
ADJOURNMENT
ADJOURNMENT AT 9:50 P.M. to the Regular Redevelopment Agency Meeting on Tuesday, May 17, 1994 at
6:00 p.m. in the City Council Chambers.
Respectfully submitted,
d~ .d. ~-
Berlin D. Bosworth
Secretary to the Redevelopment Agency
[C:IWPSI IAGENCYIMINUTESIOS-O3-94.MIN]
.j ~ /S
Thís yage íntentíonally ltft blank.
..2 -/b
JOINT SPECIAL MEETING OF THE REDEVELOPMENT AGENCY/CITY COUNCIL
OF THE CITY OF CHULA VISTA
Monday, May 23, 1994 Council Conference Room
9:32 p.m. City Hall Building
CALL TO ORDER
1. ROLL CALL:
PRESENT: Agency/Council Members Fox, Moore, Rindone, and Chairman/Mayor Nader
ABSENT: Agency/Council Member Horton
ALSO PRESENT: John D. Goss, Director/City Manager; Bruce M. Boogaard, Agency/City
Attorney; and Vicki C. Soderquist, Deputy City Clerk
2. APPROVAL OF MINUTES: None.
BUSINESS
3. AGENCY RESOLUTION 1390 ADOPTING THE REDEVELOPMENT AGENCY BUDGET
FOR FY 1993-94 AND APPROPRIATING FUNDS THEREFOR--The FY 1993-94 Redevelopment Agency
Budget was reviewed as part of the City budget approval process. As the Redevelopment Agency is a separate legal
entity, it is necessary to approve the budget separately as required by California Community Redevelopment Law.
The formal Agency adoption of the budget had been delayed in order to detenrune the full impact of State budget
resolutions and to complete the evaluation of staffing needs for the Economic Development function in the
Community Development Department as directed by City Council during and subsequent to the City's budget review
process. This item was continued from the meetjng of Mav 17. 1994. Staff recommends aooroval of the
resolution, (Community Development Director) [4/5ths Vote Required]
Continued to a Special Meeting of the Redevelopment Agency on May 26, 1994 at 4:00 p.m. in the City
Council Conference Room.
4.A. COUNCIL RESOLUTION 17478 APPROVING CHULA VISTA DOWNTOWN
ASSOCIATION 1994 BUDGET AND ACCEPTING THE ASSOCIATION'S 1993 ANNUAL REPORT--In
accordance with Chula Vista Municipal Code, the Chula Vista Downtown Association (aka, Downtown Business
Association, DBA) is required to suhmjt an annual report and budget for Council's approval. A copy of the
Association's Annual Report and 1994 Work Plan and Budget is being submitted for Council's consideration. In
1991 the Agency agreed to fund the Town Manager portion through fiscal year 1993-94. Staff is recommending
the agreement and funding be extended through one additional fiscal year. This item was continued from the
meetine of Mav 17. 1994. Staff recommends aoDroval of the resolutions. (Community Development
Director/Interim Finance Administrator)
B. AGENCY RESOLUTION 1404 APPROVING A ONE-YEAR EXTENSION TO CHULA VISTA
DOWNTOWN ASSOCIATION AGREEMENT FOR TOWN MANAGER
Chris Salomone, Director of Community Development, stated the staff recommendation was to fund $40,000 out
of the coming year budget, the request was for $50.000.
ChainnanlDirector Nader questioned if the decrease in funding would cripple the DBA's operations.
Donna Hawk, representing the Downtown Business Association, stated they were projecting a $5,000 net income
for the year and would work wjthin the budgeted funding.
,,2-/7
Minutes
May 23, 1994
Page 2
RESOLUTION 17478 AND 1404 OFFERED BY CHAIRMAN/MAYOR NADER, reading of tbe text was
waived.
Agency/Council Member Moore stated he was disappointed, the primary reason he had voted for an additional
$50,000 in funding for the DBA was because there were unusual demands and criteria for tbe Downtown Manager.
One of the key requirements was to do something witb the vacant buildings in the downtown area. Many of the
things that were being done had been done before by volunteers and it was the only place in the City that received
tremendous funding support from the City. He questioned how close the DBA was to being self supporting.
Jim Fergus, representing the Downtown Business Association, responded they were making progress towards
becoming self-sufficient. The lapse between the previous town manager and the current town manager and the
difficulties experienced by the current town manager in getting the Board reorganized had set them back. They
were not ready to be self-sufficient yet. Twenty-two new businesses were brought into the area and only seven
businesses had left.
Agency/Council Member Moore stated he had recommended the Farmers Market be held in the new focus area with
a lane open each way. He questioned how the bus route would be detoured in that area.
Pam Buchan, Principal Community Development Specialist, stated the item would be on Tuesday's Council agenda
for review. Staff had looked at the one lane being open and it became a real hazard for children and pedestrians.
The buses would be detoured to "F" Street.
Agency/Council Member Fox stated because it was the heart of the City and the economy had been down, it was
the wrong place to cut the budget. He felt the DBA had a strong Board and competent town manager. Self
sufficiency should be their goal, but he could not in good conscience cut the budget knowing they would only be
$5,000 in the black for the fiscal year. He expected them to make a diljgent effort to increase funding next year.
MOTION: (Fox) to amend the resolutions to restore the full funding request of $50,000 for the town
manager. Motion died for lack of second.
Chairman/Mayor Nader stated he sympathized with the DBA, but it was tight times and the program was intended
to have City support phased out after three years. The City was going beyond the initial commitment, but he did
support the staff recommendation. He felt one justification for support of $40,000 was due to the discontinuity
created by the abrupt departure of the first town manager.
Agency/Council Member Moore agreed with Chairman/Mayor Nader and supported funding of $40,000 as they
were making a sincere effort to become self sufficient.
VOTE ON MOTION: approved 4-0-1 with Horton absent.
******
John Goss, Director/City Manager. stated the Planning. BCT, Open Space, and Non-Departmental budgets could
be folded into the budget hearing on 5/26/94 as the main focus of that meeting would be the GMOC
recommendations. He felt the CIP and Community Development budgets could be heard on 6/1/94.
Chairman/Mayor Nader stated the Agency/Council agreed with the Director's/City Manager's recommendation.
ORAL COMMUNICATIONS
None
ol-¡tf
....- -
Minutes
May 23, 1994
Page 3
OTHER BUSINESS
5. DIRECTOR'S/CITY MANAGER'S REPORTCS) - None
6. CHAIRMAN'S/MA YOR'S REPORTCS) - None
7. AGENCY/COUNCIL MEMBER COMMENTS - None
AD JOURNMENT
ADJOURNMENT AT 9:53 P.M. to tbe Special Redevelopment Agency Meeting on May 26, 1994 at 4:00 p.m.,
immediately following the City Council meeting. in the City Council Chambers.
Respectfully submitted,
BEVERLY A. AUTHELET, CMC, City Clerk
. ......~,. \
by: ~'-'t""~ ..<..,""0 \. ~" ,
Vicki C. Soderquist, Depu ,Ity Clerk
02-/1
Thís yage íntenüonaIIy ltft blank.
..2 -j 0
MINUTES OF AN ADJOURNED SPECIAL MEETING OF THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA
Thursday, May 26, 1994 Council Conference Room
5:55 p.m. City Hall Building
CALL TO ORDER
1. ROLL CALL:
PRESENT: Agency Members, Moore, Rindone, and Chairman Nader
ABSENT: Agency Members Fox and Horton
ALSO PRESENT: John D. Goss, Director and Vicki C. Soderquist. Deputy City Clerk
2. APPROVAL OF MINUTES: None.
BUSINESS
3. RESOLUTION 1390 ADOPTING THE REDEVELOPMENT AGENCY BUDGET FOR
FY 1993-94 AND APPROPRIATING FUNDS THEREFOR--The FY 1993-94 Redevelopment Agency Budget
was reviewed as part of the City budget approval process. As the Redevelopment Agency is a separate legal entity,
it is necessary to approve the budget separately as required by California Community Redevelopment Law. The
formal Agency adoption of the budget had been delayed in order to detennine the full impact of State budget
resolutions and to complete the evaluation of stafting needs for tbe Economic Development function in tbe
Community Development Department as directed by City Council during and subsequent to the City's budget review
process. This item was continued from the meeting of Mav 23. 1994. Staff recommends aooroval of the
resolution. (Community Development Director) [4/5ths Vote Required]
MSC (NaderlRindone) to continue the Redevelopment Agency agenda to June 1, 1994 at 6:00 p.m. (following
the City Council budget meeting/worksession) in the Council Conference Room. Approved 3-0-2 with Fox
and Horton absent.
ORAL COMMUNICATIONS
None
OTHER BUSINESS
5. DIRECTOR'S/CITY MANAGER'S REPORT(S) - None
6. CHAIRMAN'S/MA YOR'S REPORT(S) - None
7. AGENCY/COUNCIL MEMBER COMMENTS - None
ADJOURNMENT
ADJOURNMENT AT 5:56 P.M. to the Regular Redevelopment Agency Meeting on June 1, 1994 at 6:00 p.m..
immediately following the City Council meeting, in the City Council Chambers.
Respectfully submitted,
BEVERLY A. AUTHELET, CMC. City Clerk
,,\ . ~.
by: "')~{" '\",---à-~ 'c "...\.
Vicki C. Soderquist, D City Clerk
;¿ -;2 I -,
Thís yage íntenüonaIIy ltft blank.
02-.1.')...--
MINUTES OF AN ADJOURNED SPECIAL MEETING OF THE
REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA
Wednesday, June 1, 1994 Council Conference Room
6:10 p.m. City Hall Building
CALL TO ORDER
1. ROLL CALL:
PRESENT: Agency Members Fox, Horton. Moore, Rindone, and Chainnan Nader
ALSO PRESENT: John D. Goss. Director and Vicki C. Soderquist. Deputy City Clerk
2. APPROVAL OF MINUTES: None.
BUSINESS
3. RESOLUTION 1390 ADOPTING THE REDEVELOPMENT AGENCY BUDGET FOR
FY 1993-94 AND APPROPRIATING FUNDS THEREFOR--The FY 1993-94 Redevelopment Agency Budget
was reviewed as part of the City budget approval process. As the Redevelopment Agency is a separate legal entity,
it is necessary to approve the budget separately as required by California Community Redevelopment Law. The
formal Agency adoption of the budget had been delayed in order to determine the full impact of State budget
resolutions and to complete the evaluation of stafting needs for the Economic Development function in the
Community Development Department as directed by Cjty Council during and subsequent to the City's budget review
process. This item was continued from the meeting of Mav 23 1994. Staff recommends approval of the
resolution. (Community Development Director) [4/5ths Vote Required]
Mr. Goss stated there were no addditional workshops scheduled. The public hearing for the budget was scheduled
on 6/14/94. One possibility would be to have the hearing and leave flexability on 6/21/94. The following budgets
had not been reviewed: Personnel, Planning, Fire and Community Developement. Related to Community
Development was the Redevelopment Agency budget issue.
Member Rindone stated the Redevelopment Agency budget had been trailed three times and he felt a specific
meeting should be set to deal with it. A specific meeting should also be set to deal with tbe remaining budgets.
Chairman Nader requested that staff poll the Council to try to set a workshop date. It was the concensus of the
Council to hear the Redevelopment Agency budget at the 617/94 meeting with the other departments being heard
at a special meeting of which the date was yet to be decided.
ORAL COMMUNICATIONS
None
OTHER BUSINESS
5. DIRECTOR'S/CITY MANAGER'S REPORT(S) - None
.i -~ 3>
Minutes
Junee I, 1994
Page 2
6. CHAIRMAN'S/MA YOR'S REPORT IS) - None
7. AGENCY/COUNCIL MEMBER COMMENTS - None
ADJOURNMENT
ADJOURNMENT AT 9:18 P.M. to the Regular Redevelopment Agency Meeting on June 7,1994 at 4:00 p.m.,
inunediately following the City Council meeting. in the City Council Chambers.
Respectfully submitted,
BEVERLY A. AUTHELET, CMC, City Clerk
by: ,,;X\\' \ ,"-\
'1,'",- ,'-.....J\-l'--(\I,lt~,\
-- ' - I
Vicki C. Soderquist, Deputy Cî¡y,q~rk
02.-~i
REDEVELOPMENT AGENCY AGENDA STATEMENT
Item -
Meeting Date 06/21/94
ITEM TITLE: Resolution /.If/O Amending the Town Centre I Sidewalk Café
Policy
SUBMITTED BY: Community Development Direrr, ( , ç,
/- Jìì
REVIEWED BY: Executive Director JL1 11\'2':1, .
I ,....----;> (4/5ths Vote: Yes - No...x..)
J Council Referral Number: N/A
BACKGROUND:
In 1982, the Redevelopment Agency adopted a resolution approving the Town Centre I Sidewalk
Café Policy. The policy was adopted after a restaurateur on Third Avenue requested permission
to set up a sidewalk café. The Agency directed staff to develop a policy for the authorization
and regulation of sidewalk cafés within Town Centre I. Since the adoption of the policy, only
two sidewalk cafés have been formally established. With the intent to encourage restaurant,
coffee shop, and bakery operators to establish sidewalk cafés along the Downtown's Third
Avenue, staff has reviewed the existing policy and is recommending that it be amended as
indicated in the attached draft.
RECOMMENDATION: Staff recommends the Agency adopt the resolution and approve the
policy as amended.
BOARDS/COMMISSIONS RECOMMENDATION: The Town Centre Project Area
Committee reviewed the proposed amendment on June 2, 1994 (copy of minutes attached) and
recommended that the Agency approve the policy as presented by staff with the assurance that
the Alcoholic Beverage Control Agency is already regulating the outdoor service and
consumption of alcoholic beverages.
DISCUSSION:
There has been a renewed interest in establishing sidewalk cafés along Third Avenue within the
Downtown area. Merchants have indicated the existing policy is restrictive and imposes
additional costs on the applicants which precludes them from formally setting up a sidewalk café.
Staff has reviewed the existing policy with an eye toward streamlining the review process and
effectively stimulating dining activity in the downtown area.
Staff determined several changes should be made to make the current policy more flexible, to
streamline the permit process, and to make the proposal more cost-effective for applicants. The
changes insure that the establishment of sidewalk cafés will be undertaken in an orderly manner
and will protect the safety, health, and welfare of the City, merchants, pedestrians, and
customers. Attached is the draft copy of the amended policy. This draft includes the language
proposed for deletion (iaàieated tB.tlsly) and the language proposed to be added (words
underlined).
'-I~/
Page 2, Item -
Meeting Date 06/21/94
One purpose of the amendment (see copy attached) is to make the policy more flexible in terms
of its requirements. For example, the existing policy requires that sidewalk café furniture be
enclosed by architectural or landscaped barriers. This requirement has been deleted (except
where alcoholic beverages are proposed to be served and required by the Alcohol Beverage
Control Agency) as it requires more sidewalk space than is generally available along Third
Avenue and imposes, in some cases, significant expense to develop. The proposed amendment
would allow the applicant to locate clean and well maintained chairs and tables on the sidewalk
adjacent to their establishment with the following conditions:
. Furniture and sidewalk café floor area will be kept clean and in good
condition (Policy Section C.2).
. Furniture and equipment shall be portable and shall be removed from the
sidewalk during non-operating hours--except where ABC requires
permanent barriers (Policy Section C.3)
. Unencumbered sidewalk passage of 5 to 6 feet will always be maintained
(Policy Section C.4).
Violation of these conditions would be grounds for revoking a sidewalk café permit. This will
allow staff to monitor conditions and act to remove sidewalk café operations that might prove
to be detrimental to the downtown environment.
In terms of streamlining the process, the amended policy provides a consolidated permit process.
The Community Development and the Engineering Departments will review the application and
will grant combined approval at a staff level. One permit will be issued which will serve as the
permit for the sidewalk café plan as well as for the sidewalk encroachment. A separate
encroachment permit will not longer be required. This will expedite the review process and will
result in a cost savings to the applicant. Because a separate encroachment permit is no longer
required as indicated above, the cost of that permit is deleted.
The existing policy requires an annual rental fee for the use of the sidewalk in the amount of $2
per square foot. This fee is being deleted on the basis that the proposed amendment intends to
serve as an incentive for merchants to set-up sidewalk cafés and that without, in most cases,
permanent barriers, the café will be more casual and temporary in nature. The cost of an
insurance certificate naming the City and Agency as additional insured will continue to be
required to limit the City's liability.
The proposed amendment makes the policy more flexible, streamlines the process, and reduces
the costs of establishing a sidewalk café. The goal of this amended policy is to encourage the
establishment and operation of the cafés in order to attract more customers and create more
activity in the downtown area. It is expected to result in a beneficial situation for the downtown
merchants by enhancing the ambiance of the Downtown and attracting consumers to the area.
1-.2.-
-,--
Page 3, Item -
Meeting Date 06/21/94
FISCAL IMPACT:
By deleting the requirement to pay the fees for the encroachment permit and the use of the
sidewalk, the Redevelopment Agency is forgoing potential revenues that could be collected
through these fees. However, since the adoption of the policy, only one sidewalk café was set
up for one year. It is expected the policy being presented to the Agency will encourage more
merchants to set up sidewalk cafés. This is expected to generate valuable benefits for the
downtown area which will off-set and surpass the loss in revenues from the fees being foregone.
Attachments
[FILE,\MZT DISK VIll\A,ICAFEPLCY.RPT]
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1-'-/-
".
MINUTES
TOWN CENTRE PROJECT AREA COMMITfEE
CITY OF CHULA VISTA
Juue 2, 1994 Council Conference Room
8:58 a.m. City Hall
1. Roll Call
Members Present: Chainnan Mason, Members Killian. Blakely, and Altbaum.
Staff indicated that Member Lembo had called and asked to be excused.
MSC (Blakely/Altbaum) to excuse Member Lembo's absence, 3-1-2-0 Mason opposed, Winters and Lembo absent.
The committee discussed the issue of absenteeism and expressed concern about Member Lembo being absent very
often. Staff was asked to prepare a letter notifying Ms. Lembo of her absences and making her aware of the policy.
Staff Present: Principal Community Development Specialist Pam Buchan and Community Development
Specialist Miguel Z. Tapia.
Also Present: Downtown Manager Mary Coburn.
2. Approval of Minutes of May 19, 1994.
MSC (Altbaum/Blakely) to approve the minutes of May 19, 1994 as mailed.
REDEVELOPMENT BUSINESS
3. Amendment to Sidewalk Café Policy.
Community Development Specialist Tapia indicated that the purpose of the amendment is to make the policy more
flexible, to expedite the permit process, and to delete some of the administrative costs in order to encourage
merchants to establish sidewalk cafes.
The committee members questioned the need to have a explicit clause in the policy prohibiting the sale and
consumption of alcohol on the sidewalk. They indicated that this is an issue uuder the control of the Alcoholic
Beverage Control Agency (ABC). If ABC regulates it, then it is not necessary for the City to have this additional
regulation.
Staff indicated that this was going to be further researched and that ABC would be contacted as to how they regulate
the sale and consumption of alcohol on the public right-of-way. If ABC has good control over it. the language will
be deleted from the policy. Staff will inform the committee of this determination.
There were other questions by the committee regarding the minimum pedestrian access, the insurance requirement,
etc. There were answers provided by Staff and no other changes were recommended by the committee.
MSC (Blakely/Altbaum) to recommend that the Redevelopment Agency accept the policy amendment as presented
by Staff with the exemption that the language in Section 2 of the statement of policy regarding the regulation of
alcoholic beverages be deleted on the assumption that the Alcoholic Beverages Control Agency is already regulating
the outdoor service and consumption of alcoholic beverages.
Member Blakely conunented that the proposed amendment to the policy is a step in the right direction of making
it easy for merchants to bring their tables and chair onto the sidewalk. He indicated he is very pleased with it.
Chairman's Comments: None. 1-5
CITY OF CHULA VISTA, CALIFORNIA
CHULA VISTA REDEVELOPMENT AGENCY
SIDEWALK CAFE POLICY
TOWN CENTRE NO. I REDEVELOPMENT PROJECT AREA
Policy Pertaining to the Use of the Public Sidewalks of the Town Centre I Redevelopment Project Area by Sidewalk
Cafes (Outdoor Restaurant).
A. GOAL
The purpose of the following statements of policy are to authorize the establishment of sidewalk cafes on
the public sidewalks of Town Centre No. I, under certain prescribed circumstances, where these uses
would not conflict with the provisions of the Town Centre Redevelopment Plan, the Town Centre Design
Manual, or the City of Chula Vista's interest in the maintenance of its sidewalks as safe and accessible
paths for pedesttians.
B. STATEMENT OF POLICY
1. Sidewalk cafes will be allowed on the Third Avenue se=ent located within shall Be eenlined te
Subarea 1 of Town Centre No. I. Sidewalk cafes shall not be established in this area wiIhiR
SuI3afea-+ unless thev comDlv with all re2ulations irnDosed bv this nolicv and a uermit is issued
eoomaehæcat peHllits have BeeR grame" by the City Engineer and the Director of Conununitv
Develonment. The attached Sidewalk Café/Encroachment Permit Annlication and accomnanvine
documents shall be comnleted bv the annlicant and submitted to the Conununitv Develonment
DeDartment for review and consideration.
2. Sidewalk cafes shall not directly or indirectly endanger or inconvenience pedesttians to a
significant extent, and that a minimum i'. é'--wide, uuencumbered pedesttian way will be
maiutained. No sidewalk café barriers furniture or eouinment shall block anv doors or fire exits.
3. Sidewalk cafes shall not adversely affect the trade or business of nearby conunercial or
professional uses, or adversely affect residential enjoyment.
4. Sidewalk cafes shall not be injurious to the landscape, irrigation, street furniture or paving
installed within the public walkways.
5. Operators of sidewalk cafes shall be required to carry liability insurance in the amount reQuired
bv the Citv of Chula Vista aud hold the City of Chula Vista and the Redevelopment Ageucy
harmless from damages occurring as the result of the operation of the sidewalk café.
6. All requests for permission to locate sidewalk cafes on the sidewalks of Subarea 1 shall be
reviewed and annroved or denied bv the Conununitv Develonment Director and the Citv Engineer
Te..R CeBlfe Projeet '\i'e. CemmÎttee, aaà !he Cit~ ¡;;øgi.aecr. Their fiøèiags an"
reeÐRRHcooaâellS shall Be fer'll .ràc" Ie the Reàe. elepmeat f geøey. The annlicant mav anueal
their decision to the Town Centre Proiect Area Conunittee and thereafter to the Redevelonment
Aeencv.
7. This !lelic~, aaà aH side..alk eafé peHilits shall be lIRÐ.aall) rO'o'ieweà BY the Re"e.elopmcat
.'\geRe) for reeemmeHèatiÐR Ie alter Ðr 6eRtiRae the !lelie) er !lcHilitB.
tf - 7
- ,- .,
C, GENERAL OPERATIONAL STANDARDS IWIÆS
All permitted sidewalk cafes shall be established and maimained in conformity with the following general
rules.
1. All sidewalk cafes shall adjoin and be operated in conjunction with indoor restaurants or food
stores licensed to sell food for consumption on the premises. If the service and/or cousumotion
of alcoholic beveraees is orooosed. the aoolicant shall be reanired to comolv with Alcohol
Beverage Control Aeencv' re2ulations. (When a barrier or enclosure is required it will be
reviewed on an individual basis.)
2. Sidewalk café ooerators shall be resoonsible for maintaining all chairs and tables in clean and eood
condition at all times RÐt te self seF\Íeeli. Tables .ill te sep'eli bl ^ælers Ðr .,æt£esses. The
ODerators shall also be resoousible for insurine that the sidewalk café floor area is maintained free
of trash and is cleaued oeriodicallv to remove food debris. liquid soills etc.
3. All restaurant equipment and furniture located on a sidewalk shall be portable. No eanioment or
furnitore shall be left on the Dublic sidewalk during the time the ooerating business is closed.
exceot where ABC requires the installation of a non-oortable barrier.
4. ^ \I silie ., elk eafes shall te eooleseli WithiR BeR peFIBIU!CRt arel>ileel1iæl Ðr laRlisea '!eli baHieFS ef
SaFe_, as a '!pre ..eli by the TeWR CeRIFe IJesi-gR &0' ie.. Bearli.
All outdoor seating furniture shall be located in such a wav that an unencumbered walkwav no less
than five (5) feet wide must be maiutained on the oublic sidewalk at all times for oedestrlan
access. In the case where a row of furniture extends for more than fiftv (50) feet the
uuencumbered walkwav width shall be no less than six (6) feet.
5. A sidewalk café shall not be established until the applicant has posted a bond or furnished proof
of insurance which adequately protects the City and the Ageucy from liability related to the
proposed café.
6. The e!,eratBr ef a siliewalk safe shall ¡¡Ii) the Cit} ef Clmla Vista aR ammal ¡¡e-it fee for the IIse
Bf the ¡¡oèlie silie'."alk. The allnllal FeRt fer siàe..alk usage will be $2.99 per sqll!lfe feet; the
ealealatiÐR Ðf m¡lIare feet shall i....leàe the "!,aoe Ðe6llf'ieli ty the arehiteotllFa! Ðf Iamlseapeli
taffi.er Br sereeR, as ..ell as the aetual eatiHg aFea.
Other aoolicable rules or conditions mav be imoosed on the oermit if oarticular conditious warrant
them.
L Violation of anv of these rules or conditions Îrnoosed on the Sidewalk CafélEncroachment oermit
shall be sufficient erounds to revoke the sidewalk café/ Encroachment oermit.
~ The attached Sidewalk CafélEncroachment Permit Aoolication shall be submitted with all the
required information and documents to the Conununitv Develooment Deoartment for review and
evaluation.
2,. The attached Aoolication for Sidewalk Café PermitlEncroachment and the Hold Harmless
Aereement samole are herebv incoroorated as though fullv contained herein and made a Dart of
this Sidewalk Café Policv.
lQ." The Sidewalk Café PerrnitlEncroachment is revocable at the sole and unfettered discretion of the
Citv/Redevelooment Aeencv of the Citv of Chula Vista within thirtv (30) davs of written notice.
lj--cf
CHULA VISTA REDEVELOPMENT AGENCY
TOWN CENTRE NO. I REDEVELOPMENT PROJECT AREA
CITY OF CHULA VISTA, CALIFORNIA
APPLICATION FOR
SIDEWALK CAFE PERMIT/ENCROACHMENT
Applicant Name Address Telephone
Business Name Address Telephone
Business Type
Description of Sidewalk Café Proposal (fype and number of chairs and tables. etc,):
Total public sidewalk area to be occupied by proposed furniture:
Attach drawings showing building frontage. sidewalk, trees and iron grates. planters, parking meters, etc, Drawing shall be in a 81/2 x 11 sheet,
it shall have all dimension and should be to scale,
If proposal is approved, applicant agrees to provide the City with the required insurance policy and to sign the attached "Hold Hanuless Agreement".
Signature below confIrms this agreement.
Applicant Signature:
(Signature confmus that the information above is accurate)
Date:
THIS PERMIT IS REVOCABLE AT THE SOLE AND UNFETTERED DISCRETION OF THE CITY/REDEVELOPMENT AGENCY OF THE
CITY OF CHULA VISTA WITHIN THIRTY (30) DAYS OF WRITTEN NOTICE.
*************************************************************************************************************
FOR OFFICE USE ONLY
City Engineer's Decision: - Approval - Conditional Approval - Denial
Conditions:
Community Development Director's Decision: - Approval - Conditional Approval - Denial
Conditions:
City Engineer's Signature: Date:
Comm. Develop, Director's Signature: Date:
[FILE,IMZTDlSK VIIIIA,ISDEWALK1,POL[
;.j ~9
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If -Ii!)
HOLD HARMLESS AGREEMENT REQUIRED BY THE CITY OF CHULA
VISTA SO THAT , OWNER OF " "SHOP,
LOCATED AT - THIRD AVENUE, SUITE_, MAY ESTABLISH AND
LOCATE A SIDEWALK CAFE NEXT TO THE EXISTING BUSINESS
Pursuant to Redevelopment Agency Resolution - adopted , ,
owner of the " " shop located at - Third Avenue, Suite -' shall defend,
indemnify and hold harmless the Chula Vista Redevelopment Agency (Agency) and the City of
Chula Vista (the City), its agents, elected and appointed officers and employees, from and
against all claims, damages, liability, cost and expense (including, without limitation, attorney's
fees) arising out of the conduct the " " shop, its owner or any agent, officer,
employee, subcontractor, or other person acting on behalf of the " " shop in
connection with the establishment and location of a sidewalk café just outside the
" " shop, except only for those claims arising from the sole negligence or sole
willful conduct of the Agency and/or City, its agents, officers, or employees. This
indemnification shall include any and all costs incurred by the City, its agents, officers or
employees in defending against such claims, whether the same proceed to judgment or not.
Further, the owner of the " " shop at its own expense shall, upon written
request by the City, defend any such suit or action brought against the City, its agents, officers,
or employees. The Owner's indemnification of the City shall not be limited by an prior or
subsequent declaration by the Owner.
Executed this - day of 1994 in the City of Chula Vista, California.
ACKNOWLEDGED AND APPROVED BY:
, Owner of the " "shop
APPROVED AS TO FORM BY;
Bruce M. Boogaard, City Attorney
[FILR\MZT DISK VrffiA,\HLDHRMLS,PLll
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1-/2.,
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1- -tc,
RESOLUTION /7'/0
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA AMENDING THE TOWN CENTRE I SIDEWALK CAFE
POLICY
WHEREAS, in 1982 the Redevelopment Agency adopted the Town Centre I
Sidewalk Café; and
WHEREAS, the Agency desires to encourage merchants to set up sidewalk cafes;
and
WHEREAS, Staff has reviewed the existing policy and recommellded revisions
thereto; and
WHEREAS, the Town Centre Project Area Committee reviewed said revisions
and recommended Agency adoption of same.
NOW THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY
OF CHULA VISTA does hereby fmd, order, detennine and resolve to adopt the amended
Town Centre I Sidewalk Café Policy, attached hereto as though fully set forth herein.
PRESENTED BY; APPROVED AS TO FORM BY:
~~ Bru,~¿~ ~
Chris Salomone, Executive Secretary and
Community Development Director Agency General Counsel
(FILE,\MZT DISK VTIM,\CAFEPLCv.RES] 1-/3
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/f~J1
REDEVELOPMENT AGENCY AGENDA STATEMENT
ItemS S~ t:,
Meeting Date 06/21/94
ITEM TITLE: Resolution /3 r (j -Adopting the Redevelopment
Agency Budget for Fiscal Year 1993-94 and
appropriating funds therefore
Resolution / '1-// Adopting the Redevelopment
Agency Budget for Fiscal Year 1994-95 and
appropriating funds therefore
SUBMITTED BY: Ci ty Manager ø
(4/5ths Vote: Yes_Noxx)
It is requested that the Agency formally adopt the Redevelopment
Agency budgets for Fiscal Years 1993-94 and 1994-95. This action
is recommended based on a detailed analysis which projects a
positive fund balance of $863,289 for FY 93-94 and a balanced
budget for FY 1994-95 as a result of recommended actions which are
discussed further in this report.
RECOMMENDATION: Adopt the 1993-94 and 1994-95 Redevelopment Agency
Budget.
BOARDS/COMMISSIONS RECOMMENDATION: Not applicable.
DISCUSSION:
There will be five basic components discussed within this report:
1. The Plan for Adoption of the 1993-94 Budget;
2. Development of a Long-Term Plan for Agency Financing;
3. The Agency Budget Remedy Plan for 1994-95 and Beyond
4. Proposed Adoption of the 1994-95 Budget
5. Responses to Council Requests for Additional Information
1. PLAN FOR ADOPTION OF THE 1993-94 BUDGET
The proposed 1993-94 Agency budget was prepared and reviewed during
the budget review process during the spring of 1993. The focus of
this review is on the expenditure side of the budget and the
pattern of usage of funds for project areas for items such as City
staff requirements, legal assistance, environmental consultants,
acquisition/relocation consultants, and on-going operational costs
of Agency property. The 1993-94 budget recommended for approval,
approved by the City Council, and amended by the Agency, was
$4,116,860.
The on-going projects for which support is included in the budget
1
5/~ -/
...-
are Homart, Scripps, Bayfront, Palomar Trolley, Walmart, the Auto
Park, Chula Vista Center, and the Veterans Horne. In order to
accomplish these projects, the budget includes city staff
reimbursements totaling $2,639,588, with Community Development
Staff costs of $1,501,857 and other City staff costs of $1,137,731.
In addition to City staff support, the budget includes $288,200 for
consultant services, $225,000 for outside legal counsel, $180,000
for planning and design consultant services, and $74,000 for
legislative representation.
Of note is the outside legal costs of $225,000 which when added to
the City Attorney's staffing reimbursement of $387,363 for a total
legal expenditure of $612,363. This is an area of concern and the
City Attorney and the Director of Community Development have been
asked to work together to develop a plan for more effective and
economical use of legal services.
In looking at the FY 92-93 budget for consultant and legal
expenses, we spent $230,000 on outside legal counsel and $319,021
for City Attorney services, for a total of $549,021. You will note
a reduction in this total for FY 94-95 proposed to $459,939
primarily due to the addition of a Deputy City Attorney who has
been able to provide assistance to the Agency at a lower cost basis
than the City Attorney. Excluding debt service of $4,771,475, the
operating budget is as follows:
FY 93/94
FUND PROGRAM ACTIVITY BUDGETED
981 RDA Housing 9810 $ 300,000
985 Southwest 9850 367,840
990 Bayfront/TCI 9900 2,040,080
991 Fine Arts 9910 8,000
992 Town Centre II 9920 281,710
993 Low/Mod Housing 9930 613,990
993 OrangeTree MHP 9931 16,490
994 Otay Valley 9940 488,750
TOTAL $4,116,860
When the 1993-94 Agency budget was presented in March of 1994, it
appeared that it was headed toward a deficit position and that
there may be a need to have a loan from one of the City's larger
funds, like the Sewer Fund, in order to balance the 1993-94 budget.
It was also clear, however, that the major issue or problem was the
ongoing deficit condition of the Agency budget caused primarily by
State takeaways, by the Rohr reassessment and, less importantly, by
the failure of the Bayfront to develop any tax increment over the
past several years. When the City Manager reviewed the financial
material prepared by the Finance Department in connection with the
1994-95 budget, it became clear that the overall Agency would
project a positive, not a negative, fund balance for 1993-94.
Specifically, the Agency projects a positive fund balance of
2
S¡i -J.---
-,.- ...
$863,289 when taking into account the overall Redevelopment Agency
funds. The proposal in March, therefore, was to adopt the 1993-94
budget as technically required (it had already been adopted as part
of the overall Ci ty budget) and focus on the deficit problem in
connection with the budget review for 1994-95. That would avoid
the City having to borrow money from the Sewer Fund for 1993-94 and
would give more time for reviewing the deficit issue in more detail
in a budget workshop setting in connection with the 1994-95 budget.
In approaching the overall Redevelopment Agency budget in this
manner, it includes all elements of the Redevelopment Agency
funding, including the Low and Moderate Income Housing Fund. (In
the past, the City Council has considered obtaining a deferral of
the set-aside requirement under State law, so that the low and
moderate income housing fund could be used for general
Redevelopment Agency purposes. This law has since changed, and
while the fund balance may be used in a short-term situation to
balance the Agency budget, Agencies may no longer receive any kind
of waiver of the 20% set-aside funds.) No deferral occurred, and
the City of Chula Vista has used its low/moderate income housing
funds well and has been a leader in utilizing this fund and other
techniques in meeting its low and moderate income housing goals.
Parenthetically, as you know, the City of Chula Vista has met its
low and moderate income housing goals better than any other City in
the County. It has accumulated a surplus in this account as well.
There would be a need to replace $574,398 plus interest, into the
Low and Moderate Income Housing Fund in 1994-95 and avoid a loan
from the General or Sewer Fund from 1993-94. This is proposed to
finish the 1993-94 budget deliberations so the deficit issue can be
addressed in the 1994-95 budget.
2. DEVELOPMENT OF A LONG-TERM PLAN FOR AGENCY FINANCING (AND
WHAT'S HAPPENING IN OTHER AGENCIES)
The questions raised by Council at the meeting of March 15, 1994
regarding having a long term plan for the Agency's financing are
well-taken. The process of looking at our history and then the
future has been worthwhile and will provide valuable direction to
the Agency and staff for the future. It is recognized that this
should not be a one-time event; the factors which impact the
funding needs of the Agency and the revenue projections are
constantly changing and it is very clear that this type of analysis
needs to be done on an annual basis.
It should be noted that the further out one attempts to plan in the
context of the economic marketplace, the less reliable the planning
data becomes and the less beneficial the planning process becomes.
It is clearly practical to plan one or two years ahead; it is very
difficult to plan for a five-year budget period. And it is very,
very hazy looking at a 10-20 year time horizon. There are too many
variables that need to be accounted for to achieve a comfort level
3
S~ ---3
with projections of this magnitude. Interest rates fluctuate
substantially and have a dramatic effect on development and
commerce; Land values inflate and adjust with general economic
conditions, interest rates, demographic changes, and land use
constraints; State and national policies and statutes change,
shifting burdens for public services and restructuring tax
obligations.
The City and the Agency's experience over the last ten years serves
as a clear example of the volatility of the economic environment in
which we operate and of the major impacts caused by shifts in that
environment. Ten years ago, the City and the Agency were operating
in an economy where no one would have predicted the decline that
the nation, the state, and the region have experienced. Had such
a receSSlon been predictable, even the five-year term, it would
have been prudent for the Agency to substantially divest itself of
its real estate assets in the stronger market. But such a move
would have been judged as imprudent at that time.
Therefore, it is recommended that the Agency plan as prudently as
possible for the future, but that flexibility be preserved for the
long-run. It is realistically hoped that the current deficit
problem will prove to be a short-term problem as the economy
recovers and real estate development and commerce returns to full
health. The Agency should be staged at that point to take
advantage of its assets and capabilities. We must be realistic to
the fact that it may not be in the Agency's or the City's best
interests to liquidate assets and cut back on operational capacity
to the degree that it would impact our ability to respond to the
opportunities that are currently emerging in the general economic
recovery.
Also, it may be helpful to put the Agency's budget situation in
perspective in relationship to other redevelopment agencies around
the state. The most current data available regarding state-wide
redevelopment fiscal status comes from the State's Annual Report on
Redevelopment Aqencies for FY 1991-92, a time at which the economic
decline of the nation and California's budget woes had exerted less
economic pressure on redevelopment agencies than has occurred to
date. However, the pattern in 1991-92 was the classic case of
redevelopment agencies being "in arrears", incurring significant
debt that would not be paid off until the maturing years of the
redevelopment projects.
In FY 1991-92, the cumulative revenues for redevelopment agencies
statewide were $2,025,796,664. The cumulative expenditures for
those agencies was $3,109,861,541. The cumulative deficit,
therefore was $1,084,064,877 or 34.86%
As more specific examples of Chula Vista being in comparable
circumstances to other agencies, the following five agencies with
populations similar to Chula Vista's were selected at random:
4
5/6 - t
CITY REVENUES EXPENDITURES DEFICIT
Bakersfld $ 1,983,954 $ 3,206,451 $ 1,222,497
Escondido 15,923,490 40,059,366 24,135,876
Grdn Grv 12,745,025 15,369,843 2,624,818
Oceanside 8,256,307 21,353,678 13,097,371
Ventura 4,942,829 5,701,277 758,448
3. THE AGENCY BUDGET REMEDY PLAN FOR FY 1994-95 AND BEYOND
Without any further action, the Redevelopment Agency is projecting,
as indicated in the cash flow tables provided in the prior reports,
a $2.5 million deficit for the next year. Given the fact that none
of the growth scenarios (low, medium, high) anticipate any spike in
tax revenue based upon land sales and/or significant completed
projects that could provide substantial increases in property tax
value such as the Bayfront, these projections are extremely
conservative.
With that in mind, staff provided various growth scenarios assuming
operation expenditures increasing by 2% annually. The result
showed that an annual operating deficit of a high of $2.5 million
next year and declining slightly every year thereafter until
sometime between FY 2002 and FY 2004 when Agency revenues would
equal Agency expenditures. However, it is staff's opinion that
this scenario is highly unlikely, given that: 1) the amount of
Agency assets that the Agency has to sell in order to eliminate
some portion of the deficit thereof, 2) the prospects of completing
major projects, and 3) the likelihood that overall economic
conditions will improve in the future.
However, even given the fact that the Agency staff does not truly
anticipate a cumulative deficit of over $16 million over the next
10 years, the following items are provided, in order of preference,
as possibilities of reducing the amount of Agency debt service and
operational costs.
A. Property Asset Sales
It is recommended that the Aqency remedy the short-term budqet
problem by prudently disposinq of certain Aqencv-owned properties,
i.e., those that can be sold without incurring a loss of value, or
are going to be disposed of anyway as part of the ongoing
redevelopment process and by using the revenue from those sales to
either reduce long-term debt, thus reducing the Agency's debt-
service or keep the cash to fund the short-term deficit and
increase interest earnings.
Attached is a list of Agency-owned properties, which includes
estimated market values. It is proposed that properties be
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disposed of as follows:
. Fuller Ford (21) and South Bay Chevrolet (22) sites:
. Sell both sites for private development. There is
current developer interest on both properties, and
staff intends to bring proposals forward soon.
. It is estimated that the properties will sell for a
combined value of $2 million. The Agency paid
significantly more ($3.2 million), but that
transaction was recognized as a subsidy to
accomplish the Auto Park. The properties have lost
value in a depressed market.
. Marina Motor Motel (3) and Cappos-965 F Street (5) I
. Sell both properties to the Port District for park
development (the reason the Agency acquired them).
. The combined property values are estimated at
$2,100,000 which is based on the Agency's purchase
prices and the uses existing at that time, rather
than park land values. This is the approach being
used by the Port District for the proposed purchase
of the Shangri La property.
. A $6 million Port District CIP exists for such
property acquisition. The schedule for the
proposed acquisitions may need to be accelerated.
. Merziotis (1), 340-368 Bay Blvd (2), and El Dorado
Building (6):
. Sell these properties to the City's Pooled
Investment Accountl. This would allow the Pool to
acquire investment properties in a down market,
which should create the opportunity to realize
equity gain as return on investment commensurate
with the Pool's standard for investment return.
The Pool could resell the properties in the future
to outside buyers at a gain or to the Agency for
remarketing.
lThe surplus from the City's 100+ accounts is invested as a
whole. It is estimated that this surplus will grow from
$69,000,000 on 6/30/94 to $77,000,000 by 6/30/95.
6
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. Another approach, but not the recommended one,
would be to use the properties to secure loans from
the City's Pooled Investment Account through trust
deeds. The loans could be at the Pool's standard
for return on investment. This approach would
create revenue for the Agency to pay down long-term
debt, but it would also create new debt obligation
on the Agency as it made periodic loan payments to
the Pool.
. The properties have a combined estimated value of
$4,900,000
Other properties listed in Attachment 1 could be sold; however,
selling them at this time would be less beneficial for a variety of
reasons, including lost redevelopment opportunity, non-optimum
market conditions, and restrictions on the resulting revenues. The
following tables provide a summary of the proposed property sales
and corresponding savings:
Property Sell To Amount
Merziotis Investment Fund $2,200,000
340-368 Bay Blvd. Investment Fund 1,100,000
El Dorado Bldg. Investment Fund 1,600,000
Marina Motor Hotel Port District 1,200,000
"Cappos" 965 F Street Port District 900,000
Fuller Ford Developer 1,100,000
South Bay Chevrolet Developer 900,000
TOTAL $9,000,000
There are a number of options that could be pursued with the $9
million raised from the land sales. Obviously, it will take time
during 1994-95 to sell the property and in the interim period, a
complete financial analysis will be conducted to advise the Agency
on how best to "invest" the land sale proceeds. As a matter of
information, the following general options are presented:
1. Redeem a portion of the 86 TABS
This option contemplates the "payoff" of a portion of the
Agency's long-term debt in order to reduce the amount of
annual debt service payments. This route could have the long-
term benefit of reducing overall annual obligations.
2. Fund Operating Deficit
This option contemplates utilizing the funds to "payoff" the
cumulative operating deficit (and thereby saving interest
payments to the General Fund) and deposit the remainder into
fund balance for the purposes of earning interest and
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subsidizing any subsequent operational deficits.
The proposed disposition of property and reduction of long-term
debt (if that route is taken) would have no impact on the City's
General Fund, assuming that the Pool received reasonable return on
investment. A turn-around of the real estate market could yield
additional benefit to the General Fund from heightened equity gain.
It still needs to be restated, however, that under State law the
Redevelopment Agency needs to have debt in order to receive the tax
increment revenue in the first place.
B. City Agency Sales Tax Cooperation Agreement
The second recommendation is to explore the possibility of a
City/Agency Sales Tax Cooperation Agreement. This contemplates the
possibility of the City providing a "reimbursement" to the
Redevelopment Agency for projects completed by the Agency utilizing
Agency funds which in turn, provide substantial sales tax revenue
to the City. For instance, if the Redevelopment Agency "invests"
$500,000 in Agency expenditures which produces a high retail sales
project that generates $1 million annually in sales tax revenue for
the General Fund, the City and Agency could agree to a performance
based sharing formula whereby the Agency, over a period of years,
gets their costs recovered. In this example, the Redevelopment
Agency could be reimbursed over a series of years $500,000.
Although this option merely redistributes revenue from the General
Fund to the Agency, it would help to more accurately reflect the
revenue produced by the Agency and could be used to help "pay down"
the Agency operating deficit.
C. Fund Economic Development with more participation by the
General Fund
Another possible option to reduce Agency expenditure levels would
be to increase general fund participation in funding of the
Economic Development function of the Community Development
Department. Currently the Economic Development programs costs,
which are budgeted in the General Fund, are reimbursed by the
Agency at an 85% level. This rate of reimbursement is based on the
notion that Economic Development projects are long-term in nature
with City-wide and/or regional economic benefits, which in turn
benefit redevelopment project areas, either generally or in some
cases specifically (like supporting Harbor Days for the Bayfront)
Although the historic expenditure of redevelopment funds for
economic development purposes outside of the project areas has
correctly been deemed to be a "benefit" to the Agency (through the
prospects of creating jobs and increased commerce generally and for
specific project areas), it is not always as direct as, say, land
aquisition in a project area).
The following table shows the amount of Economic Development
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activities funded by the Agency over the past few years, the FY 94-
95 proposed amount and the corresponding percentage that this
function represents of the entire operations budget:
TOTAL OPERATIONS
YR BUDGET ECON DEV % OF TOT
91/92 $3,556,580 $184,520 5.2%
92/93 $3,686,740 $337,944 9.2%
93/94 $4,116,860 $490,115 11.9%
94/95 $3,931,100 $462,675 11.8%
The funding of Economic Development with an increased percentage
from the General Fund, could reduce the Agency's operating deficit
by up to a maximum of $462,675 in 1994-95.
4. PROPOSED ADOPTION OF FY 94-95 BUDGET
The proposed Redevelopment Agency budget for 1994-95, not including
debt service, is $3,931,100. These expenditure levels have been
reviewed during the budget review process and are recommended for
adoption.
FY 93/94 FY 94/95
FUND PROGRAM ACTIVITY BUDGETED PROPOSED
981 RDA Housing 9810 $ 300,000 $ 300,000
985 Southwest 9850 367,840 359,150
990 Bayfront/TCI 9900 2,040,080 1,957,270
991 Fine Arts 9910 8,000 8,000
992 Town Centre II 9920 281,710 284,660
993 Low/Mod Housing 9930 613,990 604,330
OrangeTree MHP 9931 16,490 16,490
994 Otay Valley 9940 488,750 401,200
TOTAL $4,116,860 $3,931,100
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As you can see from the above chart, budget staff has worked
closely with the Community Development department to reduce the
expenditure level to one that accurately reflects the projected
expenditure of the Agency. However, since the workload of the
Agency and this department in particular is so volatile, many items
may be brought to the Agency for approval mid-year which had not
even been contemplated when the budget was developed. Staff has
tried to provide enough flexibility so that items can be brought to
your attention when an immediate issue is needed to be addressed to
further the interest of the Agency.
The 1994-95 budget is basically made up of three areas of
expenditures. The first is the reimbursement funds of $2,421,495
for the true staffing costs for Community Development Department
staff and other city staff which are providing support to the
Agency. This issue will be discussed further in this section. The
other large component of this budget is for legal and consultant
services required for the operation of the project areas and the
implementation of the Agency's Redevelopment workplan.
Over the years that the Agency has pursued redevelopment, the
complexity, and therefore the cost, of that pursuit has escalated
substantially. This has resulted in the Agency budget having an
ever-increasing proportion being devoted to professional and
technical consultant services.
These services fall predominantly in the categories of legal,
financial, and environmental. Land development has become so much
more complex in the face of land use restrictions, declining market
conditions, and hazardous waste and endangered species issues.
Description Amount
Legal Consultants: DDA, Condemnation, Exclusive
Neg., OPA $250,000
Environmental:
Hazardous Waste, Endangered Species, BF Development $218,000
Acquisition/Relocation: Civic Center Expansion,
Fuller Ford/SB Chevrolet $159,000
Legislative Representative $74,000
Operation of Acquired Property:
Property Mgmt. Services, Rebate Possessory Interest $134,230
TOTAL $835,230
Community Promotions/Economic Development Activities
Also included in this budget is partial and some full funding of a
variety of community promotional activities which are integral to
the City's Economic Development program. The funding for these
events is as follows:
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RDA SHARE TOTAL COST
Chamber of Commerce $15,635 (50%) $31,353
Videotape Council mtgs 16,966 (40%) 42,417
Chu1a Vista Quarterly 25,650 (50%) 51,300
Visitor's Brochure 10,320 (85%) 12,150
Harbor Days 7,800 (60%) 13,000
POP's Concert 5,750 (50%) 11,500
Winterfest 7,950 (75%) 10,600
Fourth of July 6,200 (25%) 24,800
Coastal Awareness Day 3,000 (100%) 3,000
Tall Ship Californian 27,662 (100%) 27,662
Total $ 126,933 $227,782
Each of these events, with the exception of Coastal Awareness Days,
were added to the budget, including determination of the split
between Agency and other funds, by past City Councils during the
budget review process.
Aqency Reimbursements to General Fund for Staff Costs
Included as Attachment 2 to this report is a chart that shows the
amount of General Fund staff time reimbursements made by the
Redevelopment Agency since 1986. The following items summarize the
data:
. In Fiscal Year 1985-86, the Agency reimbursement to the
General Fund for staff costs was $573,893, of which 71% was
for Community Development staff.
. Over the years since 1985-86, the total reimbursement has
increased steadily and significantly to nearly $1.3 million
in FY 89-90 and over $2 million in FY 92-93.
. In Fiscal Year 1994-95, total reimbursements are estimated
to be $3 million.
. Of that $3 million, approximately 41% is for Community
Development staff, while Planning receives 8% and the City
Attorney's reimbursement represents 7%. Other department
reimbursements are based on activities such as: City crews
performing construction and repair to Agency buildings;
Finance staff providing auditing and accounting serVlces;
and Engineering services for project areas.
The reimbursement for staff time spent supporting the Agency is
based on the concept of "fair share", or what we term Full Cost
Recovery. The idea is that the Agency should be paying for the
true costs of the city services provided specifically for the
benefit of the Agency. The fundamental principle of utilizing
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Redevelopment funds to their maximum legal extent is basic to most
City/Agency accounting. Redevelopment dollars are debt incurred
that can be repaid out of future property tax increment. General
Fund dollars in most cases, once spent, are not regenerated. It is
prudent to charge legally eligible costs to Agency accounts even if
recovery may take many years. During the budget preparation
process each year, the needed services are projected and included
in the Agency's proposed budget and the related revenue is included
in the City's general fund revenue estimates.
If the actual City staff charges for work directly related to the
Agency are not reimbursed, then, in essence, the general fund would
be subsidizing the Agency. The method currently used ensures that
the Agency, as well as other funds, pay the true cost of services
which represent their fair share of the City's operating costs.
This practice ensures no subsidies are occurring in either the
general fund or any other fund.
Included as Attachment 3 is a more detailed accounting of the Full
Cost Recovery Factor history and methodology.
Debt Service/Transfers
FY 93/94 FY 94/95
1986 Tax Allocation Bonds $3,152,830 $1,709,182
1987 Cert of Partie. "B" TCI 452,200 450,850
1987 Cert of Partic."B" TCII 155,000 154,476
1993 Cert of partic. REF 87 "A" 770,369 971,850
1993 Cert of Partic. "Parking" 40,676 162,703
NIC (Bayfront Conservancy Trust) 200,400 201,000
TOTAL $4',771,475 $3,650,061
GRAND TOTAL $8,888,335 $7,896,161
It is recommended that a budGet of $7,581,161 be adopted for 1994-
95 by disposinG of Aqency owned properties in order to reduce lonq-
term debt as described earlier in this report. It is also
recommended that this approach be revisited and updated annually to
chart the financial direction of the Aqency.
The total budget of $7,896,161 represents a decrease of $1,307,174
from last year's budget total of $8,888,335. It needs to be noted
that the retroactive payments owed to the five (5) taxing districts
for the Southwest Project Area is not included in the Operations
portion of the budget listed above. An additional $246,600 is
requested to be included in the Southwest budget for this purpose.
The retroactive payments represent the funds owed to the districts
during the negotiation period. Additionally, the revenue
projections are net of the pass through payments for the 1994/95
fiscal year.
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AGENCY REVENUE
The proposed budget of $7,896,161 million is substantially
supported by estimated Agency revenues of $6,440,729. The
following table delineates the anticipated sources of revenue for
each fund:
FUND PROJECT REVENUE
985 Southwest $ 218,000
990 Bayfront/TCI 3,726,263
Fine Arts 12,300
992 Town Centre II 671,804
993 Low/Mod Income Housing 991,100
994 Otay Valley 821,262
Allocate from
Property Sales 1,455.432
TOTAL $7,896,161
Fiscal Impact - FY 94-95 Budqet Adoption
Adoption of the resolution will appropriate funds for the FY
1994/95 Redevelopment Agency budget totalling $7,581,161 as
follows:
Operations $3,931,100
Capital Projects 0
Debt Service 3,650,061
TOTAL $7,581,161
This proposed budget presents a surplus of $679,568 which can pay
backmoney to the Low-Mod ($574,398) from 1993-94 which will reduce
this loan to $417,204. This proposed budget is based on the
recommendation to sell property (See attachment #2) and to use
proceeds from this property sale to pay down the 1986 TABS.
5. RESPONSES TO COUNCIL REQUEST FOR ADDITIONAL INFORMATION
At the June 7, 1994 Agency meeting, Council requested additional
information be provided in order to facilitate the discussion
related to the approval of both the 1993-94 and 1994-95
Redevelopment Agency budget and the Community Development
Department budget.
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The primary question which has not been addressed yet is the
specific data/information on the 1986 Tax Allocation Bonds, the
1987 Certificates of Participation and outstanding loans to and
from the Agency.
A. 1986 Tax Allocation Bonds
In 1986 the Redevelopment Agency issued Bayfront Tax Allocation
Bonds in the amount of $38,655,000 based on a revenue stream on
future tax increment revenues projected for the Bayfront/Town
Centre I Redevelopment Project. The overall purpose of the bond
issue was to: (1) defease the debt from the 1984 notes and, (2)
accumulate cash capital for the purposes of purchasing assets and
funding Agency operations in order to ensure collection of property
tax increment revenue. It needs to be stressed that as a basic
Agency financial function as required by State Redevelopment law,
the Agency needs to incur and maintain debt in order to qualify to
receive property tax increment revenue on an annual basis. If debt
is not reported to the State Controller's Office, then the Agency
is not entitled to receive tax increment revenue. The following is
provided as an accounting of the 1986 TAB issue:
Sources of Revenue
Principal Amount of Bonds $38,655,000.00
Accrued Interest 233,620.53
1979 Bonds Reserve Account 886,099.00
1984 Notes Reserve Account 1,038,099.00
Less Underwriter's Discount (869,737.50)
Total Sources $39,943,081. 03
Uses of Revenue
Interest Account $233,620.53
Redevelopment Fund 2,330,923.54
Redevelopment Escrow Deposit 9,000,000.00
Defeasement 1984 Notes 25,163,594.46
Reserve Account 2,924,942.50
Cost of Issuance 290,000.00
Total Uses $39,943,081.03
As indicated in the above table, the vast majority of the bond
issuance was used to defease the 1984 Tax Allocation Notes. The
Agency received $2.33 million up front (Redevelopment Fund) which
was deposited into the Bayfront/Town Centre I Fund. Nine million
dollars ($9 million) was held in an escrow deposit for a period of
l~-/f
3 years in order to determine if the future projections of property
tax increment revenue would support the $9 million in bonds.
In May 1989, it was determined that future revenue flows would
support only $3.635 million of the $9 million and therefore, $5.365
million in bonds were redeemed. The remaining balance of the 86
TABS as of June 8, 1994, is $27,095,000. In essence, the Agency
received $2.33 million in 1986 and an additional $3,635,000 in 1989
for the general purposes of purchasing property and funding agency
operations costs, With the pooled monies of the bond proceeds
(including the 84 Notes before they were defeased), property tax
increment revenue and the interest revenue earned on the monies in
the Bayfront/Town Centre I Fund, the following major property
purchases occurred:
Site Amount Date Purchased
980 F Street $990,000 September 1982
960 F Street $1,038,000 September 1985
(Marina Motor Motel)
350, 360, 364,368 Bay Blvd. $1,546,568 October 1986
965 F Street 600,000 September 1987
340 Bay Blvd. $600,000 May 1988
*4705 Otay Valley Road $5,350,000 September 1990
(Shinohara)
315 Fourth $1.722,000 October 1989
TOTAL $11,846,568
*Bayfront/Town Centre I loaned Otay Valley Road the $5,350,000 to
purchase property.
B. 1987 Certificates of Participation
The debt service for Fund 300 (as previously identified in the
March 15 budget report) was estimated to be $571,000 in order to
pay the debt service on the Town Centre I and II 1987 Certificates
of Participation. This estimate originated when the original
budget was prepared to go forward in June 1993, and was carried
forward to the March 15 Agency budget report. Consequently, when
Agency staff went back to provide the revenue/expenditure
projections at Council's direction after the March 15 meeting, more
specific information was available and staff reflected the debt
service in a more accurate fashion. The debt service amounts
provided in the June 7, 1994, staff report are correct. The Fund
300 in the prior report was comprised of the estimated cost for the
Town Centre I and Town Centre II COPs.
15 ~
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C. General Fund Loans to Aqencv
As provided in the prior report and included as Attachment 2 to
Exhibit B, "Summary of Interfund Loans," the Agency owes the
General Fund $1,970,091 (as of June 30, 1993). Otay Valley Road
owes $1.47 million and $436,000 is owed from Town Centre II. In
addition the Bayfront Conservancy Trust owes the Agency an
estimated $1,297,314 as of June 30, 1994 and with projected
expenses for 1994/95 this amount is projected to increase to
$1,499,099 as of June 30, 1995.
D. Economic Development Division Staffinq
During the City Council discussion of the adoption of the City's
operating budget on June 13, 1994, Council requested additional
information on the feasibility of providing an additional Community
Development Specialist II (CDS II) position that would be devoted
to projects that would generate new jobs in Chula Vista. The
possibility of adding a position to this division has been analyzed
in detail and it was recommended and Council (Agency Board)
approved that as part of the 1993-94 budget a full time
Administrative Secretary be added to this division to enhance the
efficiency of operations. It has been staff's intent to continue
to monitor this divisions staff ing level as the numbers of staff
have continued to grow. Since new position have been recently
added to this division with limited experience it was believed that
it would be more appropriate to allow these individuals to get "up
to speed" before a realistic assessment of the ability to handle
workload could be completed. It was believed by the Department the
best use of additional support would be a full time clerical
position. It should be noted that this position will not begin
working in this division until July 1, 1994 so it may be premature
to evaluate the impact on the workload of the existing positions.
It is therefore recommended that the situation continue to be
closely monitored and that after 2 to 3 months with the new
position in place staff return to Council/Agency with a more
accurate recommendation on the additional needs of this division.
Another concern is that the option of a permanent position cannot
be dealt with any sooner that three months, since there is
currently no viable list of the Community Development Specialist
position.
If, however, the Agency believes that staff should be added
immediately, the following options are listed in staff's priority
order:
Option 1: Transfer an existing employee from within the
Community Development department for the
proposed function:
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It may be possible to transfer an existing employee from within
the Community Development department fill the current needs
within Economic Development. The impact of this option is
positive in that the individual will already have a foundation
of understanding of the department and how to best support the
economic development workplan. Also, office space would not be
an issue since they are already situated within the department.
The downside is that redevelopment project activity would have
to be adjusted and likely the Agency would have to reprioritize
projects to determine which of those would not be accomplished,
which could be detrimental to redevelopment projects, which
could have a positive economic impact on the City.
Option 2: Transfer an existing employee from another department to
Community Development for the proposed function:
It may be possible to transfer an existing employee from
another department of the City temporarily into the Economic
development division in order to meet some current priorities.
One of the advantages is that staff from Administration have in
the past been assigned temporarily to provide just this kind of
assistance.
While this option allows for maximum flexibility, the
individuals current work assignment would have to be
redistributed and may not be completed as effectively. This
option has been successfully implemented in the past by sharing
professionals from other departments on a part-time basis.
Disadvantages would likely include the lack of some
professional skills specific to the position (depending on the
individual selected) and the loss of the services currently
provided by that position.
Option 3: Hire a consultant:
This option provides the greatest flexibility in adjusting
staffing. However, it is felt that it would be no less
expensive, and may be even more so, than the options listed
above to obtain the services of a qualified consultant. Fringe
benefit, fixtures and equipment, and workspace costs, although
those items are supplied by the consultant, are typically part
of the compensation package for a qualified consultant.
Additionally, having the consultant work off-site and not be
subject to regular direct supervision is generally less
productive for the non-specialized work that would be performed
by a CD II. On the other hand, funding additional office space
for a new person would not be an issue under this scenario
Option 4: Hire a CD II as a Temporary Professional:
This option would allow greater flexibility in the response to
staffing needs. The position could be deleted in the future
more easily (although so would the consultant option). The
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costs could be controlled by the number of hours per week
designated when hiring. The Temporary Professional would not
receive fringe benefits initially; but after 999 hours of
service, those benefits would be required. To obtain the
services of a qualified individual, even in an "employer's
market," it is often necessary to pay a base compensation that
makes up for fringe benefits not offered. The fixtures and
equipment costs plus finding space within the department, would
be a problem, unless the selected candidate worked out of an
existing office or their home, which would create some worksite
lssues.
Option 5: Hire a CD II as a permanent full-time position:
A full-time CD II position would have a current annual cost of
$49,033. This cost includes $37,513 for salary at "A" Step and
$11,520 for fringe benefits. Additionally, it would cost
approximately $1,200 for equipment and supplies for the
position.
If the position were permanent full-time, reducing the economic
development staffing level in the future as less need existed
or as priorities change would be more difficult.
It would be necessary for the department to acquire additional
off-site space for the position. The department is too crowded
to accommodate any new positions.
The costs for all of these options would have to be paid for
principally by the Redevelopment Agency (currently, Redevelopment
pays 85% of economic development costs, and the General Fund pays
15%). No clear option exists which would not add these costs to
the existing Agency deficit, unless as an ad hoc temporary policy
the City Council would like to just fund this from the General Fund
as a contribution to economic development.
Conclusion
Although the above options should be considered and discussed for
the purposes of a "plan" for 1994-95 and beyond, it should be
understood that the Redevelopment Agency is clearly a significant
revenue source for the City. The overall purpose of the Agency is
to incur debt, invest in developments, and promote investment in
the community with the expectation of long term repayment of the
investment in the form of sales tax revenue and transient occupancy
tax revenue to the City, and increased property tax revenue to the
Agency. Additionally, since the Agency funds 85% of the Economic
Development function, the Agency is also investing for the City
significant amounts of staff time and resources towards projects
and other "regional" goals outside of redevelopment areas that are
anticipated to provide long term economic development benefits to
the City at large including increased property tax revenues that
18 ~
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flow to the City (as well as for redevelopment project areas).
Therefore, it is somewhat skewed to view the Agency financial
picture solely in the terms of expenditures by the Agency versus
revenues that flow to the Agency, since significant portions of
revenues and overall benefits flow to the City at large.
FISCAL IMPACT: The 1993-94 budget will result in an "All Funds"
positive balance of $863,289 which requires the repayment to the
Low and Moderate Income Housing Fund of $574,398 during 1994-95.
The 1994-95 proposed balanced budget contemplates the sale of $9
million in property assets that will result in a reduction in the
debt service from the 1986 TABS of $1,422,392 and the remaining
funds of approximately $3,498,000 into the Bayfront/Town Centre I
Fund balance.
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Thís yage íntentíonaIIy ltft blank.
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'. ATTACHMENT 1
"
LIST OF AGENCY-OWNED PROPERTY
YR
BA YFRONT SQ. FT. MRKT VALUE PURCH.
*1. "Merziotis" 225,512 $2,265,120 85
*2. 340-368 Bay Blvd. 158,994 1,112,958 86-88
*3. Marina Motor Hotel 87,555 1,200,000 84
4. 980 F Street 108,900 963,000 83
*5. "Cappos" 965 F Street 43.560 $ 900.000 88
TOTAL 624,521 $6,441,078
Town Centre I
*6. EI Dorado $1,600,000 89
7. Taco Shop 7,500 $ 150,000 88
8. 327-331 H Street 12,000 $ 180,000 86-89
9. Windmill Farms 114.562 $1.800.000 87-88
TOTAL 134,062 $3,730,000
Parking Lots:
10. Church & Madrona 8,250 $140,250 89
11. 200 Landis Avenue 50,000 $1,000,000 80-89
12. Landis & Davidson 30,250 $544,500 80
13. Church & Davidson North 14,145 $226,320 80
14. Church & Davidson South 12,300 $196,800 80
15. Third & Madrona 18,400 $276,000 late 70's
16. Landis & E Street 6,250 $100,000 80
17. Church & Del Mar 25,730 $437,410 88
18. Mid-Block Church Avenue 22,689 $363,024 87
19. Church & Center 25.000 $450.000 91
TOTAL 240,014 3,734,304
Town Centre"
20. City Corp. Yard 395,960 $5,900,000 early 60's
Southwest
*21. Fuller Ford 169,884 $1, lOO.OOO 93
*22. South Bay Chevrolet 149.350 $1,500,000 93
TOTAL 319,234 $3,200,000
Other
23. Sweetwater Valley 620,730 $ 620,000
24. Nature Interpretive Center $1,500,000 88
GRAND TOTAL 2,094,507 $25,125,382
* Denotes properties recommended to sell Sib ~J-}
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ATTACHMENT 3
FULL COST RECOVERY BACKGROUND
Since September 1982, it has been the City's policy to apply a full
cost recovery multiplier to all direct service charges to recover
the city-wide and departmental indirect costs incurred in providing
that service, These full cost recovery (FCR) factors have since
been used to determine fixed fee levels, to apply appropriate costs
to deposit accounts, CIP projects and various other funds, and to
make informed cost/benefit decisions on contracting for services.
By charging full cost recovery, the City can ensure that an
appropriate level of "hidden costs" such as benefits, clerical
support, supervision, office supplies, building depreciation and
utilities are not inappropriately subsidized by the general fund.
. Full Cost Recovery Components
Direct Costs: Direct costs are those costs that can be
assigned to a specific service or program or which serve the
city as a whole and not the other departments. Examples
include Police, Fire, Parks and Recreation, Library, City
Council and City Administration. From a city-wide cost
recovery perspective, only salary and wage expenditures are
considered direct costs. On a department level, however, some
supply and service costs are also charged directly (e.g.
asphalt used in a road overlay project). Full cost recovery is
not applied to these direct departmental supply and service
charges.
Indirect Costs: Commonly called "overhead costs," these are
costs that are necessary for the operation of the organization
but which are not uniquely or easily assignable to a specific
good or service. Depreciation (use allowances) on buildings
and equipment, general administration expenses and the cost of
services from internal service departments (e.g. Personnel,
Purchasing, Custodial) are examples of indirect costs.
Frinqe Benefits Factor: All benefit costs are summed for
proportional application to direct salaries through a fringe
benefits factor.
Paid Time Off: This component factors vacation, holidays, jury
duty and sick leave. Without such a factor, an employee could
work six months on one development project, but the general
fund would end up absorbing the cost for the full year's leave.
City-Wide FCR: The general city-wide cost of services is
derived by combining the indirect, fringe benefits and paid
time off factors and applying them to direct salary costs.
Departmental FCR: Specific department or division costs such
as administration, clerical support and supervision are
recovered through a departmental indirect factor. This serves
.s/~ -';;5
,... -
~
to segregate overhead costs which apply to a single department
so that they are not spread through the citywide FCR factor.
If one department has more clerical, supervision and supply and
service costs than another, it will tend to have a higher FCR
factor.
5/b -02b
RESOLUTION 1390
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA
VISTA ADOPTING THE REDEVELOPMENT AGENCY BUDGET FOR FY 1993-94
AND APPROPRIATING FUNDS THEREFOR
WHEREAS, Redevelopment Agency staff have prepared budget requests for
various redevelopment project areas and the Redevelopment Low and Moderate Income
Housing Fund and;
WHEREAS, the Redevelopment Agency has determined that the planning and
administrative expenses are necessary for the production, improvement, or preservation of
Low and Moderate-Income housing.
WHEREAS, the Redevelopment Agency of the City of Chula Vista has reviewed
and approved the budgets contained in fund numbers 980,981,985,990,991,992,993,
and 994.
NOW THEREFORE, BE IT RESOLVED THAT THE REDEVELOPMENT AGENCY
OF THE CITY OF CHULA VISTA does hereby appropriate funds for the purposes set forth in
the 93-94 Redevelopment Agency Budget submitted by the Executive Director, subject to the
same terms, conditions and authorities given to the City Manager over the City's budget,
summarized by Fund Number, as follows:
FUND PROJECT/PROGRAM AMOUNT
980 Debt Service - 86 TABS $ 3,152,830
981 RDA Housing Program 300,000
985 Southwest Project 367,840
990 BayfrontfTown Centre I 2,040,080
991 Redevelopment Fine Arts 8,000
992 Town Centre II Project 281,710
993 Low/Mod Income Housing 630,480
994 Otay Valley Project 488,750
PRESENTED BY: APPROVED AS TO FORM BY:
~ ~
Chris Salomone --------- Bruce M. Boogaard
Community Development Director Agency General Counsel
Sß -c2 7
~
---
Thís yage íntentíonaIIy ltft blank.
sjlo - ;1R
RESOLUTION 1411
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA
VISTA ADOPTING THE REDEVELOPMENT AGENCY BUDGET FOR FY 1994-95
AND APPROPRIATING FUNDS THEREFOR
WHEREAS, Redevelopment Agency staff have prepared budget requests for
various redevelopment project areas and the Redevelopment Low and Moderate Income
Housing Fund and;
WHEREAS, the Redevelopment Agency has determined that the planning and
administrative expenses are necessary for the product jon, improvement, or preservation of
Low and Moderate-Income housjng.
WHEREAS, the Redevelopment Agency of the City of Chula Vista has reviewed
and approved the budgets contained in fund numbers 980, 981, 985, 990, 991, 992, 993,
and 994.
NOW THEREFORE, BE IT RESOLVED THAT THE REDEVELOPMENT AGENCY
OF THE CITY OF CHULA VISTA does hereby approprjate funds for the purposes set forth in
the 94-95 Redevelopment Agency Budget submitted by the Executive Director, subject to the
same terms, conditions and authorities given to the City Manager over the City's budget,
summarized by Fund Number, as follows:
FUND PROJECT/PROGRAM AMOUNT
980 Debt Servjce - 86 TABS $ 1,709,182
981 RDA Housing Program 300,000
985 Southwest Project 359,150
990 Bayfront/Town Centre 1 1,957,270
991 Redevelopment Fine Arts 8,000
992 Town Centre II Project 284,660
993 Low/Mod Income Housing 620,820
994 Otay Valley Project 401,200
PRESENTED BY; APPROVED AS TO FORM BY;
~ ~
Chris Salomone Bruce M. Boogaard
Communjty Development Director Agency General Counsel
[C:\WP51IAGENCYIRESOSIRESO1411.RES¡
Sß -;21
Thís yage íntenüonaIIy ltft blank.
S/b-3ó
"-;I2t~ø..¿
~j/Lit..ë'¿/cd <,<..if /)ze~7-
Additionally, the revenue projections are net of the pass through
payments for the 1994/95 fiscal year.
AGENCY REVENUE
The proposed budget of ~;,89C,1G1 g:~;~$:!íi~?~ million is
J:mbatantiallyouppert;cd pÎ!£giîi!q by estillÍåfédAgéiÚ::y revenues of
~C, 110, ;29$§¡,+~!iW~~~ . The following table delineates the
anticipatedSÓui'CeŠÓf revenue for each fund:
FUND PROJECT REVENUE
985 Southwest $ 218,000
990 Bayfront/TCI 3,726,263
Fine Arts 12,300
992 Town Centre II 671,804
993 Low/Mod Income Housing 991,100
994 Otay Valley 821,262
Allocate from
Property Sales 1,455,132
t~¡!ti!!~~..1!30
TOTAL Ç'7,89C,1G1
~~¡¡ ¡$!~¡;$$!~
Fiscal Impact - FY 94-95 Budqet Adoption
Adoption of the resolution will appropriate funds
1994/95 Redevelopment Agency budget totalling ~;, 0:81, 1C1
as follows:
Operations $3,931,100
Capital Projects 0
Debt Service 3,bO:O,OC1
.¡~2~¡~~9
TOTAL ~;,581,lC1
~~¡!!i~~¡;!í~~
Thio propeacd 19ud§ct prcacRto Ll aurpluo of ~C79,5C8 \Tflich can ]?a)
bac ( mORC} to the Lm¡ Hoà (~0:;1,398) from 1993 91 ,¡hicfl \Till reduce
tflia loLlR to ~n;,201. This proposed budget is based on the
recommendation to sell property (See attachment #2) and to use
proce~~s from this ro ert sale to aydown the 1986
TABS
13
--... -
&«cJ ';w;¿~'{-'
,-,d;:l~v61Iø( ¿f.td d. Redevelopment funds to their maximum legal extent is basic to most
City/Agency accounting. Redevelopment dollars are debt incurred
that can be repaid out of future property tax increment. General
Fund dollars in most cases, once spent, are not regenerated. It is
prudent to charge legally eligible costs to Agency accounts even if
recovery may take many years. During the budget preparation
process each year, the needed services are projected and included
in the Agency's proposed budget and the related revenue is included
in the City's general fund revenue estimates.
If the actual City staff charges for work directly related to the
Agency are not reimbursed, then, in essence, the general fund would
be subsidizing the Agency. The method currently used ensures that
the Agency, as well as other funds, pay the true cost of services
which represent their fair share of the City's operating costs.
This practice ensures no subsidies are occurring in either the
general fund or any other fund.
Included as Attachment 3 is a more detailed accounting of the Full
Cost Recovery Factor history and methodology.
Debt Service/Transfers
FY 93/94 FY 94/95
1986 Tax Allocation Bonds $3,152,830 $1,709,182
1987 Cert of partic. "B" TCI 452,200 450,850
1987 Cert of Partic."B" TCII 155,000 154,476
1993 Cert of partic. REF 87 "A" 770,369 971,850
1993 Cert of partic. "Parking" 40,676 162,703
g"P!!i~¡¡;'.þ~"¡;¡§iZB§g¡;¡§!!i# ":"~;;" ¡¡*4;a~~
Nfc(í3åyfiÒrifcÒriservàri¿y Trust) 200.400 201.000
TOTAL $4,771,475 ¡;;3,CÓ:0,OCI
~~i~~4M!I$!!
GRAND TOTAL $8,888,335 $7,896,161
'$.~"ii!i~~i$$~,
It is recommended that a budqet of (;7. ó:81. lClS!:lJ;tllslŠS!iI be adopted
for 1994-95 bv disposinq of Aqencv owned prôi5êifiêSIn order to
reduce lonq-term debt as described earlier in this report. It is
also recommended that this approach be revisited and updated
annuallv to chart the financial direction of the Aqencv.
The total budget of p, 89C, lCl ~~i.¥~~1$.$~ represents a decrease of
¡;;1,307,171 $j!?@j~f!t£~ from last yeåi'sbiidget total of $8,888,335.
It needs tobéri6fêð that the retroactive payments owed to the five
(5) taxing districts for the Southwest Project Area is not included
in the Operations portion of the budget listed above. An
additional $246,600 is requested to be included in the Southwest
budget for this purpose. The retroactive payments represent the
funds owed to the districts during the negotiation period.
12
...,"- ...
June 2, 1994
.
TO:
The Honorable
Mayor and City Council/Redevelopment
City Manage~
Agency Board
FROM:
SUBJECT:
John D. Goss,
Agency Budget
Next Tuesday you are scheduled to discuss the Redevelopment Agency budget for
1993-94, as well as the proposed Community Development budget for 1994-95. It
is appropriate to consider both of these together since both budgets present the
same overriding issue. This issue is how the City/Agency should address the
Redevelopment Agency's ongoing annual deficit. This report addresses this issue
and is in add it ion to the report you have a 1 ready rece i ved regard i ng the
Redeve lopment Agency and the Commun ity Deve lopment budgets. Th i s report prov ides
new information, as well as updates information previously provided.
Whv is the Redevelopment Agencv experiencing an ongoing deficit?
As Chart A on Page 96 of the proposed 1994-95 operating budget indicates, we are
at the point where the Agency now is losing approximately $2.2 million annually
compared to what it used to receive prior to 1988-89. This is made up of a
$650,000 revenue loss in 1989-90 as a result of reassessing Rohr's equipment, and
the losses from the State in the amounts of $690,000 in 1991-92, $652,000 in
1992-93, and $232,000 in 1993-94. In addition to this ongoing revenue loss,
secondary contributory causes to the Agency deficit, are the recession and the
lack of anticipated tax increment from the Bayfront. (When the bonds for the
Town Centre I/Bayfront were sold in the mid-80's, it was anticipated that
eventually there would be a revenue stream of tax increment from the BaYfron~
which would begin paying that debt service. That has not happened. Putting i
another way, if Rohr's property was not reassessed, if the State had not take
money from the City, if the recession had not occurred, and if development ha
begun on the Bayfront, the Agency would not be operating in a deficit position.)
Fortunately, the vast majority of the Bayfront bond proceeds were used to
purchase permanent assets that can be liquidated.
It should also be pointed out, however, as indicated in the initial report on the
Redevelopment Agency budget, redevelopment activities are basically performance
based; that is, tax increment flows to the Agency to fund redevelopment
activities but the increment normally occurs after the investment of funds by the
Agency. So in effect, it is a "payment in arrears" program so it is expected
that the Agency might run somewhat in a deficit and might require loans from
funds such as the Genera 1 Fund. That has been the experience with the
Redevelopment Agency to date in Chula Vista where there have been loans to the
Agency which have not been repaid.
The other point that needs to be kept in mind is that the Chula Vista
fJ~ /
Redevelopment Agency, compared to other redevelopment agencies around the state,
has been extremely active and has performed extremely well. Chula Vista has
performed as well as any other agency in the state for a city of its size. In
fact, it probably would be fair to say that it has been one of the top ten most
successful redevelopment programs in the state. Even with some problems, the
Third Avenue Redevelopment effort is very successful compared to similar downtown
.redevelopment projects around the state. Projects the Agency has accomplishe9
such as redoing the Chula Vista Shopping Center, creating an Auto Park which 1~
about ready to open, and in one f i sca 1 year deve lop i ng near ly 400,000 square feet
of industrial development in the Otay Valley redevelopment project area, are all
examples of the Agency's success. The Agency has also been very much of an
assistance in other economic development activities of the City such as the Power
Center being constructed in Rancho del Rey. Also, coming out of the ground is
the Pa lomar Tro lley Center, the aforement ioned Auto Park, with exce llent
prospects in the very near term of an amphitheater, a Wal-Mart and Central
Electric. In the past, analysis has been done on the Town Centre I project, in
which the amount of revenue valuation created downtown has been extremely
beneficial to the area.
How Can the Deficit be Addressed?
On pages 96 and 97 in the operating budget of the Proposed 1994/95 Budget, some
options are briefly mentioned, such as selling the Agency's assets, closing down
the Community Development Department or borrowing money from one or more of the
City's funds, which are projected to have over $77 million by the end of next
fiscal year. These options were presented very generally and briefly, and the
purpose of this report is to examine these and additional options in more detail
for the City Council/Agency Board's information. Some options are as follows:
1. Cut back on Citv operations which are supported bv the General Fund. This
would entail a major downsizing of the City organization, undoubtedly
impacting the service levels to the public as well as significantly and
negatively affecting employee morale. Basically, the General Fund would
underwrite the Redevelopment Agency deficit at the expense of other City
serv ices. If th i s a lternat i ve is pi eked, it wou 1 d be recommended that
this be part of a very broad-based, wide-ranging participative process
involving the vast majority of City employees. This option is not
recommended, however, since it wou 1 d be, I be 1 i eve, damag i ng to city
services which City Council has directed we maintain, would hurt our
ability to attract and retain businesses because of declining service
levels, and is probably not necessary in light of other more desirable
options.
2. Borrow from the General Fund Reserves to Support the Redevelopment Aqencv.
This is not recommended, other than as a possible short term loan, because
it would take just a little over two years for all current General Fund
reserves to be used to underwrite the Agency deficit.
3. Borrowinq Funds from the Sewer Reserves. It is projected that the Sewer
reserves will have almost $21 million at the end of next fiscal year,
saving up for major capital expenditures for city sewer projects. While
the sewer reserves could loan money to Redevelopment on the short term
with the understanding that that money would be paid back when needed at
an appropriate interest rate, this is not recommended unless the loans
/f-2---
would only be for the short term, since the money in the sewer reserves
will be required for capital projects in the intermediate term.
4. Provide a Loan to the Redevelopment Aqencv from Both General Fund and
Sewer Reserves. All this does is create a larger pool of money, however
it has the same difficulties as the previous two options except that the
loans could be for a little longer term because of the larger pool of
money that wou 1 d be created. Th i s opt i on, however, is not recommended
because of other available options.
5. Chanqe the Citv's Investment Policv to Enable the City's "Pooled
Investment Account" to be Invested in the Redevelopment Aqencv. This
would require a change in the City's investment policy that would allow
the "Pooled Investment Account". (which basically is the pooling of the
City's 100+ funds) to be invested in the Redevelopment Agency in addition
to the "Account's" other investments. If this were accomplished, there
would clearly need to be a cap on the amount to be invested, certainly not
to exceed 10% of the total. It would be like any other investment in that
the Redevelopment Agency would need to periodically pay back at a certain
interest rate to the "Pooled Investment Account" of the City. This could
theoretically create a total cash pool to the Agency of several million
dollars which would cover its deficit for several years. Again, this may
be useful in order to handle a short- to mid-term investment in the
Redevelopment Agency, until it gets to the point where it can avoid a
deficit. It is not recommended at this time except as a possible short
term investment.
6. Bond on the Aqencv's Revenue Stream. The City/Agency has not seen any
development on the Mid-Bayfront even with over twenty years of planning.
If one can make the assumption that development will start occurring
within four years, and a revenue stream begins, the Agency could then bond
on that revenue stream. In other words, if the Agency could handle the
short term def i c it unt il, say, FY 1998-1 999, the Agency poss i b 1 y cou 1 d
issue $15 million in bonds based on the Agency's expanded revenue stream,
which would cover the Agency's deficits until the point where the revenue
stream from the mid-Bayfront and other redevelopment project areas will be
sufficient to eliminate current and future deficits. In this scenario,
then, some of the previous scenarios, such as a loan from the Sewer Fund
or the change in the investment policy could be utilized to handle the
short-term deficits until the bonding on the revenue stream from the
Midbayfront could be accompl ished. It is recommended that the Agency
identify ways to address the short-term deficit, anticipating that some
development eventually will occur on the Bayfront, so that its revenue
stream, as well as the revenue streams which will be evolving over the
next several years from the other project areas, can be utilized to fund
additional bonding for the Agency.
7. Se 11 Redeve 1 opment Propert v / Assets. Another way, and probab 1 y the
preferred way in certa i n 1 imited c i rcums tances, to hand 1 e the Agency's
short-term deficit, is to sell some of its property and assets. Normally,
selling property during a recession would be rejected out of hand because
If-.J
the Agency would be selling property at possibly below market value.l
In Exhibit 2 of the attached memo, which lists all the Agency-owned property,
totalling $25,125,382. It includes several pieces of property on the Bayfront,
Town Centre II, the Southwest and other properties. Some of the prospects for
property sa 1 es cou 1 d be on the Bayfront, Items 2, 3 and 5. We are a 1 ready
discussing selling Parcel No.2 to the Port for development as a park. Since the
Port also has additional money in its CIP for land acquisition on the Bayfront,
it is possible that Items 3 and 5 could be sold to them as well. Currently the
Port, in valuing the property, has been using the amount of money paid to acquire
property by the City, rather than a lesser amount. Using what would probably
then be considered a favorable valuation of the property, the Agency would be
able to get the money out of the property that it put into it. By selling land
to the Port, therefore, the City could possibly sell property in the current
market without be i ng hurt by dec 1 in i ng 1 and va 1 ues that wou ld otherwi se
characterize such land sales.
Another concept would be to sell the Eldorado building and then lease back that.
space which the City currently util izes. As you may recall, the Eldorado
building was purchased by the Agency as expansion of the Civic Center for about
$1 million. It is now estimated that its value is about $1.6 million. One
possibility would be for the Agency to explore selling the building with the
inducement that there would be the potential of long-term leases by responsible
agencies (City of Chula Vista and South Bay Community Services). which would have
a guaranteed revenue stream to a potent i a 1 owner, thereby hedgi ng aga i nst a
deline in the value of this asset. It would also shift some of the burden of the
investment of this asset from the Redevelopment Agency to the City's General
Fund, which basically has been benefitting from this acquisition over the past
several years to the disadvantage of the Agency. Most of the City facilities
being leased there, but not all of them, are supported by fees, which would help
support the leases that would be entailed by such a sale.
The parking lots owned by the City are listed, only to identify assets which have
been purchased by the Agency.2 Community Development staff, however, feels that
Property No. 10 on this chart, the parking lot at Church and Madrona, probably
is in excess of parking needs in the Town Centre I. They would recommend that
we look at possibly selling that property.
The property at 327-331 H Street, Parcel No.8 on Exhibit A, was acquired
contemplating that additional parcels would be accumulated in the vicinity of
that intersection (Third and H Streets). That has not occurred, except for some
separate property beside Jetco being leased to the credit union for parking, and
it does appear in the immediate term that the Agency will not have the ability
to assemble additional parcels. As a result, Parcel No.8 might also be a
candidate for sale.
lpossibly one scenario would be to either borrow from the Sewer Fund or
modify the investment policy to address a short-term deficit situation until the
sa le of property becomes more advantageous, to then bridge the gap to a
subsequent, adequate revenue stream in order to sell additional Agency bonds.
2Although one option would be to determine if an entity such as "Ace
Parking" would be willing to purchase and operate some of these lots.
IJ-f
It is not recommended that the Windmill Farms site be considered for sale at this
point since there might be an opportunity to exchange this property for property
owned by one of the school districts in order to create a site for administrative
offices. It is also recommended that the Corporation Yard site not be sold at
this time since, over time, especially with development on the Midbayfront, the
value of this property should increase significantly. Finally, while it is
recommended that the Fuller Ford and South Bay Chevrolet sites be sold, but only
in connection with the redevelopment of those sites. Currently there are parties
interested in these sites, with whom staff is currently negotiating, per the
direction of the Agency.
In 1 ight of these opt ions, it is recommended that the Redeve lopment Agency
deficit be addressed by beginning the process of selling the properties
identified above, some of which probably could be sold without a significant
negative impact on the loss of value due to selling during a recession. There
may be a need to change the City's investment policy to allow a limited amount
of investment into the Redevelopment Agency to help bridge the gap until these
land sales can occur. The purpose of both these strategies would be to get to
the point by 1998-99 to bond on the developing revenue stream and the other
project areas, as well as hopefully the Midbayfront, which staff projections
indicate should be able to eliminate the ongoing deficit currently being
experienced by the Agency.
JDG:mab
it - S
INFORMATION MEMORANDUM
June 2, 1994
TO:
The Honorable Mayor and City Council
John D. Goss, City ManagerL-
.S.
Chris Salomone, Community evelopment Director C.
VIA:
FROM:
SUBJECT:
Supplemental Exhibit to FY 93.94 Agency Budgets
Pursuant to recent direction from the City Manager, Community Development staff
has provided additional exhibits attached hereto as supplemental information to be
considered as part of the Agency's FY 93-94 budget item. Listed below are the six
additional exhibits with accompanying description.
EXHIBIT 1
Replaces page number 3-17 from the prior report, charts numbers 7-9 entitled "Ten
Year Surplus and Deficit Projections." Upon further review and analysis, staff
found a glitch in the spreadsheet and corrected. The new "Ten Year Surplus and
Deficit Projections" show that in a medium growth scenario with no other changes,
that the operating deficit is eliminated by FY 2001-02 and that substantial
cumulative deficits are accumulated until that time, at which time the operating
deficits begin to decrease.
EXHIBIT 2
Based on the picture presented in the prior Exhibit, Exhibit 2 outlines a list of
Agency-owned properties, some of which are available and have been available for
resale. It should be noted that the majority of these properties, with the exception
of the parking lots, were purChased or substantially purchased with proceeds from
the 1986 Bayfront Tax Allocation Bonds. As indicated, the Agency owned
approximately $25 million in current value properties with several individual
properties that, if sold, will make substantial progress towards eliminating the
operating and cumulative deficit.
EXHIBITS 3, 4, 5
These exhibits are projections that assume the Bayfront project is initiated in
FY 96-97. The charts also illustrate the effect on the operating surplus and deficit
given a $3.5 million land sale in the same fiscal year. Additionally, the projections
are based over a 15 year period, not a 10 year period which shows that again, the
/3 -J
The Honorable Mayor and City Council 2
Supplemental Exhibit to FY 93-94 Agency Budgets
June 2, 1994
current operating deficit is eliminated in FY 01-02, with substantial progress
towards eliminating the cumulative deficit by the year FY 04-05.
EXHIBIT 6
This graph identifies the effect that a $15 million bond issued in 1997 would have
on the current year and cumulative deficits given the high growth scenario
previously illustrated. For the purposes of illustration, it was assumed that the
bond issue would be for 20 years at 8% interest. The proceeds would be used for
paying off all of the existing cumulative debt and the spreadsheet indicates the
benefits thereof. The Agency would be responsible for paying off the $15 million
issue over the next 20 years, and these payments are reflected on the graph.
lyfe\memos\93.94bud .mem
8-L
TEN YEAR SURPLUS AND DEFICIT PROJECTIONS
EXHIBIT "1"
Operating Surplus (Deficit)
10 Year Projection (Low Growth)
$5,000,000
$0
($5,000,000)
($10,000,000)
($15,000,000)
($20,000,000)
. 00 moo. ()() m m m M
/_ CUlTent Year 0 Cumulative
$5.000,000
Operating Surplus (Deficit)
10 Year Projection (Medium Growth)
$0
($5.000,000) --------
($10,000.000) --------
($15,000,000)
. 00 moo. ()() m m m M
[_Current Year 0 Cumulative I
$5,000,000
Operating Surplus (Deficit)
10 Year Projection (High Growth)
$0
($5,000,000)
($10,000,000)
($15.000,000) 95 96 97 98 99 00 01 02 03 04
I_ Current Year 0 Cwnulative
~-3
LIST OF AGENCY-OWNED PROPERTY EXHIBIT "2"
BA YFRONT SQ. FT. MARKET VALUE
1. "Merziotis" 225,512 $ 2,265,120
2. 340-368 Bay Blvd. 158,994 1,112,958
3. Marina Motor Hotel 87,555 1,200,000
4. 980 F Street 108,900 963,000
5. "Cappos" 965 F Street 43.560 $ 900.000
SUBTOTAL 624,521 $ 6,441,078
Town Centre I
6. EI Dorado Building 16,000 $ 1,600,000
7. Taco Shop 7,500 150,000
8. 327-331 H Street 12,000 180,000
9. Windmill Farms 114.562 $ 1.800.000
SUBTOTAL 150,062 $ 3,730,000
Parking Lots:
10. Church & Madrona 8,250 $ 140,250
11. 200 Landis Avenue 50,000 1,000,000
12. Landis & Davidson 30,250 544,500
13. Church & Davidson North 14,145 226,320
14. Church & Davidson South 12,300 196,800
15. Third & Madrona 18,400 276,000
16. Landis & E Street 6,250 100,000
17. Church & Del Mar 25,730 437,410
18. Mid-Block Church Avenue 22,689 363,024
19. Church & Center 25.000 $ 450.000
SUBTOTAL 240,014 $ 3,734,304
Town Centre II
20. City Corp. Yard 395,960 $ 5,900,000
Southwest
21. Fuller Ford 169,884 $ 1,700,000
22. South Bay Chevrolet 149.350 $ 1.500.000
TOTAL 319,234 $ 3,200.000
Other
23. Sweetwater Valley 620,730 $ 620,000
24. Nature Interpretive Center 1,500,000 -
GRAND TOTAL
2,094.507
$25,125,382
B~~
$20,000,000
$15,000,000
$10,000,000
$5 000 000--
, ,
$0
EXHIBIT "3"
RDA Operating Surplus (Deficit)
Low Growth - Bayfront Project
($5,000,000)---
($10,000,000)
($15,000,000)
94-95 96-97 98-99 00-01 02-03 04-05 06-07 08-09
1---- CY SURPLUS/(DEF) --- CUM SURPLUS/(DEF) I
5-5
EXHIBIT "4"
$30,000,000
$25,000,000----
RDA Operating Surplus (Deficit)
Medium Growth-Bayfront Project
$20,000,000------- ....-- ... --- __._u_ .- _.____m____________ .----
$15,000,000
$10,000,000
$5,000,000
$0
($5,000,000)
($10,000,000)
> ..................---..----------------..------
,':~.'~',
. ..f ........ .... ..... ---- _ ---
($15,000,000)
94-95 96-97 98-99 00-01 02-03 04-05 06-07 08-09
F CY SURPLUS/(DEF) -l!II- CUM SURPLUS/(DEF) I
1>-b
EXHIBIT "5"
$0
RDA Operating Surplus (Deficit)
High Growth-Bayfront Project
$30,000,000
$25,000,000mmm _mmm _m__ __m__ __mm_m____mm_mm_m
$20,000,000
$15,000,000
$10,000,000
$5,000,000
($5,000,000)--mm
($10,000,000)
94-95 96-97 98-99
1--- CY SURPLUS/(DEF)
00-01 02-03 04-05 06-07
--- CUM SURPLUS/(DEF) I
08-09
<6-7
$50,000,000
$40,000,000
EXHIBIT "6"
High Growth Scenario with Bayfront
and 1997 $15,000,000 Bond Issue
$0
$30,000,000 -------- -- --------------------------------
$20,000,000--------- --- --------------- -
$10,000,000
- CJ -=~=-;-=--iil~ .
IIl1I
($10,000,000) r-
94-95 96-97 98-99 00-01 02-03 04-05 06-07 08-09
. -11IIIII- Current Year -{ill- Cumulative I
b-?
AGENCY AGENDA STATEMENT
- ,
Item
Meeting Date'
ITEM TITLE:
RESOLUTION ADOPTING THE REDEVELOPMENT
AGENCY BUDGET FOR FY 1993-94 AND APPROPRIATING FUNDS
THEREFOR \\~ .
Community Development Director ~
City Manager fA (4/Sths Vote: Yes _ No LJ
7J Council Referral No. 2881
,
SUBMITIED BY:
REVffiWED BY:
BACKGROUND:
The FY 1993-94 Redevelopment Agency Budget was reviewed as part of the City budget
approval process. In fact, the Community Development Department's budget, which
encompasses the City's redevelopment activities, has been approved as part of the regular City
budget approval process. Since the Redevelopment Agency is a separate legal entity, however,
it is necessary to also approve the budget separately as a Redevelopment Agency item which
allocates the already approved Community Development Department and Capital Improvement
Program budgets to each project area as required by California Community Redevelopment Law.
The formal Agency adoption of the budget had been delayed in order to determine the full
impact of the State budget resolutions, and to complete the evaluation of the staffing needs for
the Economic Development function in the Community Development Department as directed by
the City Council during and subsequent to the budget review process. 'Attached as Exhibit A
is the Economic Development staffing report. Additionally, when the budget was ready for
presentation to the Agency, staff was directed to provide the Agency Board with a report (which
is to include a 10 year projection of Agency revenues and expenditures) analyzing the Agency
fInancial condition. The report on the Agency fIscal status is attached as Exhibit B. It should
be noted that the fInancial projections in Exhibit B are "best guess" estimates which should be
used as a rough guide and not as defInitive data. It should also be noted that the City Manager
is discussing the Agency fIscal situation and how it may be addressed in broader terms in the
overall FY 1994-95 Budget Process.
The agenda statement outlines the appropriations necessary for current year Agency operations
and includes information on an addition of fIve supplemental requests totalling $274,722.
However, all five of the supplemental requests are to be paid for from actual spending savings
from the current year, and therefore, do not require additional appropriations. Included as
Attachment 1 are the budget sheets previously reviewed and approved by the Council.
RECOMMENDATION: That the Agency adopt the Resolution which formally adopts the
Redevelopment Agency budget for FY 1993-94.
BOARDS/COMMISSIONS RECOMMENDATION: Not Applicable.
'Exhibit A is now replaced by a Supplemental Budget Report dated May 20, 1994_
~
Page 2, Item
Meeting Date 06 -07- '1'1
. /;,d
DISCUSSION:
The FY 1993-94 Redevelopment Agency operating budget total is $4,116,860. The five
additional items that were not previously considered by the Council are: I) a $12,500 addition
to the Town Centre I budget for Downtown promotional activities, 2) $15,207 for payment 'of
legal fees owed as part of the Rancho del Rey Power Center project, 3) $6,700 for office
equipment and related supplies for the proposed Administrative Secretary for the Economic
Development Department, 4)$7,500 in support for the South County Economic Development
Council which the Redevelopment Agency tentatively approved at the meeting of March 15,
1994, and 5) an- additional $232,815 to fund the payment to the Educational Revenue
Augmentation Fund (ERAF) as required under the FY 1993-94 State Budget resolutions. The
ERAF contribution, as required by the State Department of Finance, is to be distributed as
follows:
BayfrontffC I
Otay Valley Road
Town Centre II
$174,818.63
33,651.79
24.344.68
TOTAL
$232,815.00
The $12,500 addition to the Town Centre I appropriation was an inadvertent data entry error.
Staff had intended to include this amount in the budget for the purpose of supporting the
Downtown Business Association (DBA) in their promotional efforts. The Rancho del Rey legal
fees are owed for the Price Club Validation Agreement and the Price Club Implementation
Agreement which the City was responsible for paying but was not contemplated in the existing
budget.
Economic Develooment Staffinl!: As mentioned previously, the formal Agency budget adoption
was initially delayed pending the analysis of Economic Development staffing requested by the
Council. The recommendation is to add one Administrative Secretary position to the Community
Development Department to be assigned to the Economic Development function. Included with
the recommendation are appropriation recommendations for equipment and supplies for the
recommended position and a recommendation regarding space needs in the department. If the
recommended position were filled in FY 1993-94 through transfer of an existing employee,
staffing costs could be accommodated from existing salary savings from under-filled positions.
As previously mentioned, the Economic Development staffing report is attached as Exhibit A.
The Operations portion of the budget reflects an increase of $102,914 from last year's operating
budget appropriation. The increase is because the ERAF contribution has been included in the
budget this year, whereas last year, an alternative source of funds was utilized. The Agency will
not contribute to the City's Capital Improvement Program which reflects a decrease of $954,753
from the FY 1992-93 budget appropriation, and the Agency's Debt Service of $4,771,475
reflects an increase of $617,741 (14.87%) from the prior year. The Debt Service increase is
due to the 1993 Certificates of Participation (COPS) coming on-line.
:,yJ.
Page 3, Item
Meeting Date 06-07-1'1
The table on the following page delineates the current year total Agency budget, and compares
it with last year's budget. As a summary, the total budget of $8,888,335 represents a decrease
of $234,098 or 2.57% from last year's budget total of $9,122,433.
OPERATIONS
FY 92-93 FY 93-94
FUND PROGRAM ACTIVITY BUDGETED PROPOSED
981 RDA Housing Program (CHIP) 9810 $ 300,000 $ 300,000
985 Southwest Project Area 9850 448,790 367,840
990 BayfrontlTown Centre I 9900 1,996,916 2,040,080
991 Redevelopment Fine Arts 9910 8,000 8.000
992 Town Centre II 9920 257,330 281,710
993 LowlModerate Income Housing 9930 606,210 613,990
Orange Tree Mobilehome Park 9931 15,720 16,490
994 Otay Valley Road 9940 380.980 488.750
TOTAL $4,013,946 $4,116,860
DEBT SERVICEITRANSFER
FY 92-93 FY 93-94
$3,149,949 $3,152,830
451,899 452,200
154,836 155,000
0 770,369
0 40,676
182,050 200,400
215.000 0
$4,153,734 $4,771,475
FY 92-93 FY 93-94
954,753 0
$9.122.433 $8.888.335
1986 Tax Allocation Bonds
1987 COPS "B" TC I
1987 COPS "B" TC II
1993 COPS - Refunding 87 "A"
1993 COPS - Parking Facility
NIC (Bayfront Conservancy Trust)
Development Fees (ROHR Reimbursement)
TOTAL
Capital Improvement Program (Total)
GRAND TOTAL
~"3
Page 4, Item
Meeting Date 6 Co - {J 7 - '1, 'f
AGENCY REVENUE
The proposed budget of $8.88 million is substantially supported by estimated Agency revenues
of $6.31 million. As was discussed during the adoption of the 1993-94 budget, there will be a
current year deficit now estimated to be $2,578,200 (although an "all funds" positive fund
balance_ of $760,915 exists, due to a FY 1993-94 operating fund balance of $3,339, 115). The
table on the following page delineates the anticipated sources of revenue for each fund:
PRO] FUND
SW 985
BFrrcI 990
FIA 991
Tell 992
L1M 993
OVR 994
ESTIMATED
SOURCE AMOUNT
Property Taxes $ 200,200
InvestmentslLeases 1.000
$ 201,200
Property Taxes $ 3,333,512
InvestmentslLeases 270.570
Other 18.000
3,622,082
InvestmentslFees $ 16.000
16,000
Property Taxes $ 631,465
InvestmentslLeases 14.500
645,965
Property Taxes 878,800
InvestmentslLeases 183,800
Other 12.000
1,074,600
Property Taxes 550,288
Investments/Leases 200.000
$ 750.288
TOTAL REDEVEWPMENT AGENCY REVENUE
$ 6,310.135
The current year revenues vs. expenditures deficit is principally due to the loss of $2.2 Million
in revenues through the State reducing Supplemental Subventions and requiring Educational
Revenue Augmentation Fund payments by the Agency for the past two years and from the
downward reassessment of Rohr's fixtures and equipment. This loss of revenue in this amount
will occur each and every year. Secondary contributory causes are the continuing economic
conditions that restrain the Agency from selling property at its full value, as lias been
contemplated over the past several years in order to cover the Agency's deficits, and the lack
of anticipated tax increment from the Bayfront.
3~4-
Page 5, Item
Meeting Date OS/24/94
FISCAL IMPACT:
Adoption of the resolution will appropriate funds for the FY 1993-94 Redevelopment Agency
budget totalling $8,888,335 as follows:
Operations
Capital Projects
Debt Service
$ 4,116,860
o
$ 4.771.475
$ 8,888,335
TOTAL
As indicated previously, a current year revenues vs. expenditures shortfall of $2.58 million is
anticipated. However, with a fund balance at the beginning of the current year of $3,339,115
plus prior year encumbrances of $102,374, a positive fund balance of $863,289 remains. A
previously suggested "loan" from another City fund is not necessary, therefore, in 1993-94.
The table below delineates current year "bottom line" picture. Please note that the fund balance
includes fund balances from Low/Mod Housing and Fine Arts even though these funds are
restricted for specific uses and do not generate income that affects the Agency's financial
condition "bottom line", The Low/Mod Fund revenue is derived from the property tax
increment generated in each of the project areas, whereas, Fine Arts fees are collected from
developers. Therefore, these funds were not included in the ten year projections provided as
Exhibit B. Please also note that the ending fund balances for each of the project areas are the
beginning fund balances for the projections.
PROI. BEG. REVENUE EXPEND. DEBT PRIOR YR END
BALANCE SERVICE ENCUMB.(+) BALANCE
SW ($172,664) $201,200 $367,840 $0 $11,800 ($327,504)
BFrrCI $1,301,505 $3,622,082 $2,040,080 $3,805,430 $57,277 ($864,646)
F/Ac') $268,624 $16,000 $8,000 $0 $0 $276.624
TCll ($1,046,692) $645,965 $281,710 $966,045 $31,450 ($1,617,032)
LIMc') $1,293,567 $1,074,600 $930,480 $0 $0 $1,437,687
OVR $1,694.775 $750,288 $488,750 $0 $1,847 $1,958.160
TOTAL $3,339,115 $6,310.135 $4,116,860 $4,771,475 $102,374 (")$863,289
C') Restricted funds for specific uses. These funds do not generate revenue independently, and therefore, are not included
in Exhibit B.
c''')Revised from erroneons entIy in June 7, 1994 Agenda staff report.
Attachment 1: Bud: et Detail Sheets
g
Exhibit A: Now replaced by a Supplemental Budget Report dated May 20, 1994
Exhibit B: Report on Redevelopment Agency Fiscal Status
C:I WP51lHA YNESlREPORTSI9394BUGT.113
EXHIBIT "B"
REPORT ON REDEVELOPMENT AGENCY FISCAL STATUS
I. INTRODUCTION
At the Redevelopment Agency meeting of March 15, 1994, at which the Agency considered and
deferred formal adoption of the Fiscal Year 1993/94 Agency budget, the Agency directed staff
to provide a report on the Agency's fIscal status and projections for improving that status.
SpecifIcally, the Agency asked for fIve year and ten year budget projections. This referral was
made in the context of an ongoing economic recession, a projected Fiscal Year 1993/94 Agency
operating budget defIcit of $2.58 Million (although an "all funds" positive fund balance of
$760,915 exists, due to a FY 1993-94 operating fund balance of $3,339, 115).
In response, this report provides information on the following topics: the benefIts of the
redevelopment process; the operation and accomplishments of the Agency over time; an
. overview of the Agency's fIscal status and the factors that have contributed to that status; and
fIve- and ten-year fIscal projections.
II. THE REDEVELOPMENT PROCESS
The redevelopment process in California provides a powerful force for the elimination of blight.
The two principal tools of redevelopment are the power to collect "tax increment" and the
authority to acquire property, through negotiation or condemnation, and sell it for private use.
Tax increment is the revenue source that fuels redevelopment. Agencies are empowered to
declare project areas where there is blight that prevents those areas from being redeveloped by
the private sector. The area's tax base is "frozen" at the time of plan adoption (base year), and
that base continues to be distributed to the existing taxing bodies. Incremental taxes above the
base year amount resulting from new development in the area are distributed among the affected
taxing bodies and the redevelopment agency. The redevelopment agency uses the tax
increment that flows to the agency to fund its redevelopment activities. It is, in effect, a
performance-based system, with payment in arrears. The agency has to invest in
redevelopment activities (staff costs, property acquisition, infrastructure improvements,
operational expenses) before the product of that redevelopment exists to generate the property
tax increment revenues that funds the agency's activities. State Law mandates that a
redevelopment agency can only collect tax increment to the degree that it has incurred debt for
its redevelopment activities. Agencies typically fInance their up-front redevelopment activities
through loans from their cities' general funds and through tax allocation bonds (tax-exempt
revenue bonds issued against tax increment anticipated to flow from the project area as a result
of redevelopment). They incur signifIcant debt in pursuit of the desired product -- the
elimination of blight through public and private development efforts. It is typically only near
the end of the term of a redevelopment project area (which has typically been 40 years) that an
agency balances its revenues and debt/expenditures.
Chart # 1 illustrates the effect of the redevelopment process on assessed valuation growth. It
3-7
establishes the property tax base for a hypothetical project area, shows the standard 2 % growth
in assessed valuation without redevelopment, and shows a reasonable hypothetical assessed
valuation growth that results from redevelopment. The tax increment yield from the project
area, which is value created by the redevelopment process, is the spread between the 2 % growth
line and the redevelopment growth line. It is substantial.
CHART #1
RDA INVESTMENT IMPACT
Assessed Valuation Growth
$3.5
L
.. $3.0
e
~ $2.5
o~
::: ~
~ ,g $2.0
o ~
>6
~ $1.5
"
"
:
" $1.0
<(
$0.5
o I 2 3 4 5 6 7 B 91011121314151617181920
V"",
- Bose Year Value - 2T. (No ROA) --- RDA Growth
ID. REDEVELOPMENT AGENCY IllSTORY
The Chula Vista Redevelopment Agency was formed in 1974 with the declaration of the
Bayfront Redevelopment Project Area. In 1976, the Town Centre I Redevelopment Project Area
was established. The Agency now has five redevelopment project areas, with the addition of
Town Centre II, Otay Valley Road, and Southwest.
Below is a brief list of significant accomplishments of the Redevelopment Agency over the
course of its operation:
· Town Centre I: Redevelopment of "Main Street" central business district;
installation of streetscape enhancements; upgrading through commercial loan
program; development of focus area with multi-pIex theater, three major
restaurants, specialty commercial shopping center, office building, parking
structure, upscale apartment project, and condominium project; renovation of
existing neighborhood shopping center; renovation of Memorial Park; funding of
Downtown Manager position; acquisition and development of public parking lots.
· Town Centre II: Renovation and expansion of regional shopping center, with
connection of center previously split by Fifth Avenue, addition of food court,
third anchor (Mervyns), 238,000 square feet of new retail space, lO-plex movie
theater, 61O-space parking structure, and inclusion of Sav-On Drug in center;
pending expansion of Scripps Hospital with 100 additional beds, 160,000 square
3-8
foot medical office building, and parking structure; correction of "Paint Pit"
contamination at City corporation yard; acquisition of expansion property to effect
Civic Center Master Plan.
· Otay Valley Road: Development of 700,000 square feet of light industrial space;
development of auto sales park, with three dealerships under construction and one
pending in Phase I, and the potential for a Phase 2, with 7 to 8 additional
dealerships; widening of Otay Valley Road to accommodate development, with
acquisition of mitigation properties.
· Southwest: Development of 190,000 square foot high-volume commercial
shopping center (Palomar Trolley Center --under construction), with associated
day care center pending.
· Bayfront: Approval of LocaI Coastal Plan; removal of auto wrecking yards;
development of four major restaurants and one motel; development of Nature
Interpretive Center; acquisition of properties for parkland development and
removal of blighting uses; development ofChula Vista Recreational Vehicle Park;
development of two public boat marinas; development of public boat dock;
development of public bays ide park with sand beach; expansion/modernization of
Rohr plant, including development of 145,000 square foot office building and
parking structure and acquisition of potential expansion properties; development
of "E" Street Trolley Station and Visitor Information Center; removal of SDG&E
liquid natUral gas tanks.
· Low/Moderate Income Housing: Long-term and successful housing
rehabilitation program (CHIP); affordable housing projects such as Town Centre
Manor, Melrose Manor, and Dorothy Street Manor Public Housing developments,
Silvercrest Residence (Salvation Army) senior housing, Orange Tree Mobilehome
Condominium, Brandywine Classics first-time homebuyers condominium project,
One Park Apartments in the Town Centre I focus area, Casa Nueva Vida short-
term housing facility (31 Fourth Avenue), Park Village Apartments (Civic Center
Barrio Housing Corporation); staffing for Affordable Housing Agreement
negotiations with developers, production of Housing Element and other mandatory
housing reports, and initiation of Housing Authority.
· Economic Development [Funded 85 % by Redevelopment funds]: Compilation
and implementation of Chula Vista Economic Development Plan; staffing to
Economic Development Commission; production of "Catch the Spirit"
promotional brochure and City's trade show promotional booth; lead staffing for
development of Rancho Del Rey Commercial Center (three "big box" discount
retailers and associated retail); implementation of Hi-TechlBio-Tech Zone;
implementation of Border Environmental Commerce Alliance.
In addition to the specific accomplishments listed above, there are numerous additional pending
projects to which the Agency's resources are being applied. Taken collectively, the list of
3-0
accomplishments illustrates that the Redevelopment Agency is a key benefactor to the City. The
benefits derived are quantified where possible throughout this report; many of the benefits,
however, are difficult to quantify, while still being of obvious positive impact on the City. In
general, the Agency contributes in the following areas:
· Generation of jobs
· Elimination of blight
· Enhancement of image
· Balanced growth/development
· Balanced economy
· Generation of new revenues: sales tax, property tax, transit occupancy tax
· Creation of affordable housing
IV. FISCAL OVERVmW
The Agency has in general followed the typical pattern of fiscal history for redevelopment
agencies. In the initial years, debt is incurred in order to invest in the growth of redevelopment
project areas, many of which extend to forty years. Capital for investment in that future growth
is derived from borrowing from general fund revenues on a deferred basis and from borrowing
against future tax increment through issuance of tax allocation bonds (bond debt serviced from
tax increment growth in the project area). As growth occurs in the project areas over time, the
resultant tax increment revenue becomes available in increasing amounts to retire the debt
incurred in earlier years. In the theoretically perfect model of redevelopment, an Agency would
only come out of debt in the final years of a redevelopment project area.
The Chula Vista Redevelopment has financed its operations through loans from the City and
through tax allocation financing (see Attachment # 1, Summary of Interfund Loans, and
Attachment # 2, Summary of Long-Term Debt). The debt that was created is to be serviced
over time from tax increment flow from the growing redevelopment project areas, and, in
particular, the tax allocation bond debt was predicated on reasonable expectations of project area
growth. It is clear that the characteristic "redevelopment curve" is working in ChuIa Vista, with
project area growth over time retiring the Agency debt (the projections in the last section of this
report illustrate that fact).
However, a number of conditions and events over the last several years have contributed
to an emerging short-term deficit problem for the Agency. These factors are beginning to
create a significant "dip" in the Agency balance sheet that must be weathered in the short-term,
recognizing that the long-term prognosis is good. The principal factors are as follows:
3-/0
- Reductions in State Supplemental Subventions: In an effort to balance the state
budget, the State Legislature has reduced Chula Vista's supplemental subventions
over the last few years from $1.2 Million to $690,000.00. Loss: $690,000.00
annually.
- Educational Revenue Augmentation Fund (ERAF): The State has addressed
its own budget problems over the last two years by passing legislation requiring
agencies to pay the ERAF to counties to supplant State funding for schools. The
Agency has had to pay $885,470 to the ERAF over the last two years. Loss:
$885,470.00 over two years.
- Rohr Reassessment: Rohr Industries had their property reassessed, because they
had transferred substantial plant fixtures and equipment out of Chula Vista to
other locations. The $60 Million reduction in assessment resulted in an annual
loss to the Agency of $600,000.00 in tax increment. Loss: $600,000.00
annually.
- Mid-Bayfront Project: In 1986, the Agency issued tax allocation bonds of $28
Million for the BayfrontfI'own Centre I project areas. The debt was to be
serviced from the tax increment that would flow from the Mid-Bayfront project,
based on development expectations. The annual debt service on those bonds is
$3.1 Million. Obviously, the development has not occurred, and the delay has
significantly burdened the Agency's cash flow. When the project develops, this
debt will be easily serviced.
Proceeds from the 1986 tax allocation issue have historically served as Agency
reserve funds, providing the Agency with substantial interest income and allowing
the Agency to acquire property for the Mid-Bayfront project, to fund the Local
Coastal Plan effort, to fund the Nature Interpretive Center, and to engage in
redevelopment activities in Town Centre I and in other project areas, including
the Auto Park, through loans to those project areas. As a result, those reserves
no longer exist to make up for Agency annual operating deficits or to provide
interest income.
· Auto Park: The Auto Park project has required a major initial investment by the
Agency ($5 Million up front for property acquisition; $3 Million of that to be
recouped from sale of the swapped-for existing dealerships for redevelopment [net
land subsidy approximately $2 Million]; approximately $1 Million contribution
to the widening of Dtay Valley Road). When the Auto Park is built, the initial
year tax increment to the Agency will be approximately $60,000.00. The City's
general fund will realize an estimated $17 Million over 15 years.
-Economic Recession: The economic recession of the last several years has had
a very significant impact on the finances of the Agency. Some projects which
had been invested in by the Agency have not moved forward. In the late 1980s,
the Agency was fairly aggressive in acquiring properties. A number of those
3-1L
properties remain undeveloped (Shangri La, Cappos, Marina Motor Motel,
Street/Merziotis, three Bay Boulevard properties, properties at intersection of
Third Avenue and H Street, and the Windmill Farms site on Third Avenue __
combined value of approximately $9 Million). The current real estate and
development climate is an impediment to the anticipated development of those
sites, and it is not a favorable time to sell the properties to access capital. When
the economic recovery accelerates, the properties can be developed as planned,
thereby generating tax revenues in most cases, 'or they can be sold for an
appropriate return.
· Economic Development Activities: Economic development activities, which are
critical to the balanced growth of the City's economy and job base, have been
accelerated over the last two years. Those activities are funded 85% from
Agency funds and 15% from General Funds; the total budget proposed for
economic development in the Fiscal Year 1994/95 budgets of the Agency and the
City is $522,292.00. Agency funds are spent for economic development because
over time the positive benefits of balanced economic growth will have positive
growth and financial effects on the redevelopment project areas. Again it is a
case of delayed returns to the Agency. However, in the short-term, significant
Agency funds are being spent for operational costs of doing promotional
activities, economic development planning, business expansion/retention
intervention, Hi- Tech/Bio- Tech Zone, Border Environmental Commerce Alliance,
and project management of projects that are not in redevelopment project areas
and that will not generate tax increment returns to the Agency, but should
produce returns to the City's General Fund and other benefits to the City.
· Support of City General Fund: The Agency makes the strongest financial
contributions to the City's General Fund in two specific areas: generation of sales
tax revenues, and payment of staffing costs for other departments.
First, the highest City Council priority projects over the last several years have been tax-
generating developments assigned to the Community Development Department (Auto Park, Wal-
Mart Center [originally at Nelson-Sloan property; now at National Avenue Associates property],
Palomar Trolley Center, Mid-Bayfront project, Scripps Hospital expansion, Chula Vista
Shopping Center expansion, Ranch del Rey Commercial Center [not in a project area, but
agency staff was project lead]). After property tax reform measures were adopted in California,
it became necessary for municipalities to seek enhanced sales tax revenues for fiscal survival.
The Redevelopment Agency has been the City's principal agent for seeking sales tax-generating
development. Typically, Agency funds have been used for predevelopment costs and property
acquisition and write-down. However, the Agency's return on investment is restricted to the
property tax increment generated by the new project; although the tax increment is welcome,
it seldom covers the Agency's costs in the short-term, requiring many year's accumulation of
tax increment to make the Agency . whole. . The General Fund, on the other hand, typically
receives large amounts of much-needed sales tax from these projects. Chart #2 illustrates the
generation of property tax increment to the Agency compared to the generation of sales tax to
3-[ :L
the City from the following projects: ChuIa Vista Center, Auto Park, Rancho del Rey
Commercial Center, Wal-Mart Center [National Avenue Associates], and Palomar Trolley
Center.
CHART #2
Comparing City to Agency I~come
Major Projects, FY 95/96 Snapshot
$1,000,000
$800,000 --
$600,000 --
. $400,000 --
$200,000 --
$0
CVCENTRE RdR POWER CTR. PALOMART.C.
AUTO PARK WALMART
IIiil!I FY95/S6INCOME TO CIlY ~ FY95196INCOME TO AGENCY I
Chart #3 shows a ten-year projection of annual combined sales tax contributions to the General
Fund from the projects included in Chart #2 above.
CHART #3
Selected RDA Project Sales Tax
Contributions to the General Fund
$5,000,000
95J96 91198 99tOO 01m2
T en Year Projection by Fiscal Year
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0 93194
.3-/3
It is clear that the priority for the Redevelopment Agency is to invest in projects that will yield
high returns to the General Fund, regardless of the degree of return to the Agency. This very
appropriate and necessary pursuit of sales tax-generating projects, however, has created some
diffictllty for the financial balance sheet of the Agency.
Second, over the last several years, the Redevelopment Agency has made increasing
reimbursements to the City's General Fund for staff costs, not only for Community Development
staff, but for various other City departments which provide support to the Agency.
v. AGENCY FINANCIAL PROJECTIONS:
In order to assess the implications of the current deficit situation for the future of the Agency,
a series of fiscal projections has been prepared. These projections look at the Agency's
anticipated financial condition over. the next ten years. The projections use three different
scenarios to compare revenues and expenditures over that time period: Low Growth, Medium
Growth, and High Growth. Each scenario reflects specific assumptions about each
redevelopment project area and the specific pending development projects in those project areas.
Spread sheets are attached which make projections for each project area and for all project areas
combined, in each of the three growth scenarios (Attachments #3 and #4). The projections are
summarized graphically in the charts below. It should be noted that the projections utilized
assume that the current plans for refunding the 1986 Tax Allocation Bonds take place.
However, provided in the attachments are spreadsheets that make identical projections, without
the assumption that the bonds are refunded.
,3 -/J.f
CHART #4
CHART #5
CHART #6
10 YEAR REVENUE AND EXPENSE PROJECTIONS
$10,500,000
$10,000,000
$9,500,000
$9,000.000
$8,500,000
$8,000,000
57,500,000
$7,000,000
$6,500,000
$6,OOO,ClOO
$5,500,000
$5,000.000
$10,500,000
$10,000,000
$9,500,000
$9,000,000
$8,500,000
$8,000,000
$1,500,000
$7,000,000
$6,500,000
$6,000,000
$5,500.000
$5,000,000
$10,500.000
$10,000.000
$9,500,000
$9,000,000
$8,500,000
$8,000,000
$7,500,000
$1,000,000
$6,500,000
$6,000,000
$5,500,000
$5,000,000
Ten Year Projection (Low Growth)
Revenues and Expenditures
----------------------.---------------------------------------
------------------------------------------------------".------
---------------------------------..--------------------._-----
--------------------------------------------------------
---.-------...------.--------------...-----..-----
------------------------ ---------------------------------
-------------.------...---------------.---.--
95
96 97 sa S9
. 1m Revenues
00 01 02 03
~ Expenditures I
04
Ten Year Projection (Medium Growth)
Revenues and Expenditures
---.-------.--.-----.-.-----.---..-----------.------..-------
....------.---------.--------.---------------.------.-._----.
---.---.---.-...----.-.------..------.--.---.----.----.-- -
---...------.--------.-------.--------.--------- ----..
95
96 97 98 99
1m Revenues
00 01 02 03 04
m Expenditures I
Ten Year Projection (High Growth)
Revenues and Expenditures
---.--.--------------------.--- ..----------.--.--------.-----
----.-- ---.-------------.----------------------------------
95
96 97 9B 99
1m Revenues
00 01 02 03
m Expenditures I
04
.., / ["
Given the "delayed gratification" nature of redevelopment financing, it is not surprising that the
Agency's cash flow becomes positive near the end of the ten-year projection period in all three
growth scenarios. This result is a logical outcome of investing in growth and then realizing
return over time as the growth occurs.
It should be recognized that different rates of growth can occur in the different project areas and
that anticipated projects may not materialize. It is also quite possible that new, beneficial
projects might develop to augment or replace the projects anticipated in the projections. The
rate of regional economic recovery could fluctuate significantly. Potential exists for significant
"spikes" in project area growth and revenue growth not contemplated in the projections from
such possibilities as the an expansion of the Auto Park, sales of acquired properties, accelerating
effects of NAFfA, strong and early development on the Bayfront, etc. However, while
recognizing the fluidity of all the assumptions, it is reasonable to accept the projections as valid
tools for predicting the fiscal condition of the Agency over the next ten years. The Medium
Growth projection, which finds the Agency at a revenue-expenditure break-even point in Fiscal
Year 2002/03 and approximately $1.57 Million ahead in Fiscal Year 2003/04, would be the
recommended projection to rely on.
Barring unforeseeable extreme changes in the Agency's situation, it appears clear from the
projections that the Agency will be able to work through the upcoming short-term deficit
situation over the next 6 to 10 years.
The three previous charts illustrate the annual revenue and expenditure projections for the
Agency. The three following charts (Chart numbers 8, 9, & 10) project the Agency's current
year and cumulative deficit situation within the three growth level scenarios.
/].I/~
TEN YEAR SURPLUS AND DEFICIT PROJECTIONS
$2,000,000
Operating Surplus (Deficit)
10 Year Projection (Low Growth)
CHART #7
so
($2,000,0001 __m_hhhmm_ _
- ----U-._____________________________________U______n
($4,000.0001
($6,000,0001
.u____ __A _________U______u______________n________
($8,000,0001
(S10,OOO.000)
95 96 97 18 99 00 01 02 03 04
I_ Current Year m Cumulative I
S2,OOO,OOO
Operating Surplus (Defict)
10 Year Projection (Medium Growth)
CHART #8
$0
($2,000,0001 ...mm....
($4,000,000)
- ---.---------.-----------------------------------.---
($6,000,000)
($8,000,000) _m__hm_m____hm__
($10,000,000)
95 96 97 98 99 00 01 02 03 04
,- Current Year mil Cumulative I
$4,000,000
Operating Surplus (Deficit)
10 Year Projetion (High Growth)
CHART #9
$0
$2,000,000 ___m_h __ ____ _m________________h______m_ ____
1$2,000,000) __mh_m__
($4,000,0001
($6,000,0001
{S8,000,000)
95 96 97 98 99 00 01 02 03 04
I_ Current Year ll!ll Cumulative
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J--S0
SUPPLEMENTAL BUDGET REPORT NO. L.L
May 20, 1994
TO:
The Honorable Mayor and City Council
John D. Goss, City Manager f
Chris Salomone, Community Development Director
VIA:
FROM:
SUBJECT: FY 94-95 Community Development Work Program
BACKGROUND
During the FY 94-95 budget preparation and review process, the City Manager
asked the Community Development Department to prepare a work program
outlining the Department's current projects, overall responsibilities and individual
staff assignments. It should be noted that this report is comprised of sections
and/or excerpts from other reports previously prepared in conjunction with the
Economic Development staffing analysis and prior year budgetary supplemental
reports.
RECOMMENDATION
That the Council review and discuss the FY 94-95 Community Development Work
Program.
DISCUSSION
The Community Development Department is comprised of three general activity
categories: Redevelopment, Economic Development and Affordable Housing/Block
Grant. This report identifies overall responsibilities, current projects and individual
staff assignments for each activity category. .
REDEVElOPMENT
Redevelopment pursues the elimination of blight and the orderly commercial,
industrial, and residential redevelopment of properties in five redevelopment project
areas: Bayfront, Town Centre I, Town Centre II, Otay Valley Road, and Southwest.
Overall responsibilities include the direct staffing of the Redevelopment Agency,
and the related Boards, Commissions and Committees for the five redevelopment
project areas. Redevelopment supports other departments with "development
oriented projects" on an as needed basis.
Recently completed or nearly completed projects that are well under-way include:
The Honorable Mayor and City Council 2
May 20, 1994
Auto Park
. Phase 1 under construction.
o 18 acres
o 3 dealerships committed: Ford, Chevrolet, and Honda
o 1 dealership under consideration: Kia
o City/Agency subsidy is anticipated to be $2 million in property resale
differential (Broadway dealerships sites)
o Project will generate $17 million in sales tax over 20 years beginning
FY 94~95, of which $4 million will be rebated to developers
Chula Vista Shopping Center Expansion
. Phase 1 completed, which included parking structure (610 additional
spaces), 10-plex theater, moving Sav-on into Center
. Phase 2 completed, Mervyn's department store
. Agency issued $2.6 million certificates of participation to assist with
construction of parking structure, to be paid back with sales taxes and
property taxes (1993 COPS)
. Estimated annual property tax increment from Phases 1 and 2 expansion:
$670,OOO/yearly
. Estimated annual sales tax from Phases 1 and 2 expansion:
$700,OOO/yearly
Mid-Bayfront
. Disposition and Development Agreement negotiations nearing completion
. 139-acre project, with 1310 hotel rooms and 1000 residential units,
165,000 square feet of commercial retail, and a cultural arts center
. Estimated jobs: temporary 5727; permanent 1700
. Project valued at $500 Million
. Potential revenue from all sources: $9,OOO,OOO/year
Otay Valley Road Widening
. Phase 1 widens Otay Valley Road to six lanes (currently 2 to 4 lanes) from 1-
805 to Nirvana
. Assessment district bonds issued
. Expected completion date for all Phases including Bridge: Spring 1995
. Project cost: $4.3 million
The Honorable Mayor and City Council 3
May 20, 1994
Palomar Trolley Center
· 190,000 square foot, high-volume retail shopping center in southwest area
of City
· Phase 1 under construction; Phase 2 requires substantial relocation activities
· Day Care Center being pursued in association with commercial center
· Will produce approximately 200 construction jobs and 500 permanent jobs
· WiII.generate approximately $4 million in net tax revenues to City/Agency
over 10 years
Rohr Expansion
· 145,000 square foot office building recently completed on Bayfront
· Additional phase of 125,000 square feet of office space pending
· Valued at $22 million
· Year one tax increment: $220,000
Scripps Hospital Expansion
· About to begin clearance and construction (although merger talks between
Scripps and Sharp may delay or reconfigure)
· 100-bed hospital addition and 60,000 square foot medical office building
· Estimated 200 construction jobs and 500 permanent jobs
· Estimated property tax increment following completion of Phase 1
construction: $160,000
Projects that are on the "front burner" or are in the "pipeline" include:
Wal-Mart Center
· ErR is in process for a proposed 194,000 square foot shopping center at
northwest corner of City at SR 54 and North Fifth Avenue
· Disposition and Development Agreement with developer is progressing
· Would include Wal-Mart, Mega Foods grocery store, and miscellaneous retail
· Would create 400 construction jobs and 450 permanent jobs
· First-year property tax increment would be $135,000
· Annual sales tax estimated at $550,000
Civic Center Expansion Project
· "Big Bang" discretionary approvals scheduled fOT consideration in late
September
-. Phase I entails the purchase (completed) and relocation (in process) of 459 F
Street for the development of additional Civic Center parking
The Honorable Mayor and City Council 4
May 20, 1994
· Long-range plan includes development of a three-level parking structure
· Short range related issue involves the work space needs of the
Community Development Department.
SDG&E Repowering Project
· Involves staff analysis on CEC equivalent of EIR process in order to ensure
proper mitigation in the repowering certification p.rocess.
Amphitheatre
· Acquisition of 60-75 acres in Otay Valley Road Project next to the Otay Rio
Business Park for purposes of developing Corporation Yard (20-30 acres)
and 15-20,000 seat amphitheatre on the balance of the property
· Lease payments from an applicant should finance all or part of the Corp
Yard property acquisition and/or development.
South Bay Chevrolet/Fuller Ford Sites
· SENA with the Moxham Company to develop a commercial center at SWC
Broadway and C
· Could include the participation and/or relocation of Cafe Ole, Harvey's Pizza
and S&M Nursery
· Fuller Ford site is getting some active attention from interested developers.
No concrete proposals at this time
Auto Park - Phase II
· Borst property of approximately 31 acres currently under a SENA with
property owner for evaluating the feasibility of Phase (I to the Auto Park
· 5-7 additional dealerships
Southwest Economic Feasibility and land-Use Study
· Contract executed with RSG to evaluate the economic study and land-use
recommendations of the Main Street and south Third Avenue corridors in
Southwest Project Area
· Recommendation for changes to the Montgomery Specific Plan due by late
summer
Davies Commercial Property (OVR & 1-805)
· SENA executed for a commercial center Or Phase (II of Auto Park
The Honorable Mayor and City Council 5
May 20, 1994
The following Community Development non-Executive Management staff members
work on redevelopment projects:
Redevetooment Coordinator
.
MidBayfront Development Agreement Negotiations
Auto Park and Auto Park Expansion Project Management
Otay Valley Road Widening and Assessment District
Homart Shopping Center Expansion Project
Scripps Hospital Expansion/Redevelopment
Town Centre II Redevelopment Project Area Management
Town Centre I/Bayfront Redevelopment Project Area Management
Otay Valley Road Redevelopment Project Area Management
--Staff to Otay Valley Road Project Area Committee
.
.
.
.
.
.
.
Princioal Community Develooment Soecialist
. Coordinate Town Centre I Project Area
-- Staff Town Centre Project Area Committee
-- Staff liaison to the Downtown Business Association
. Coordinate/Administer Local Coastal Program/Coastal Zone
. Staff support to Bayfront Redevelopment Project Area
· Department CIP Budget: Prepare/Coordinate
Princioal Community Develooment Soecialist
.
Project Manager: Southwest Redevelopment Project Area
-- Staff Southwest Redevelopmen.t Project Area Committee
Project Manager: National Avenue Associates/WalMart Project
Project Manager: Southwest Economic Feasibility and Land-Use Study
Project Manager/Staff Support: Moxham/South Bay Chevrolet Project
Project Manager: Adamo Acquisition/Tenant Relocation
Staff Support: Borst/Auto Center Expansion
Staff Support: Davies/Auto Center Expansion or Commercial Project
Staff Support: Economic Development Commission Streamlining
(Recommendation #16)
Staff Support: miscellaneous projects including department budget and
financial analysis
.
.
.
.
.
.
.
.
Community Develooment Soecialist II
. Staff Support: Town Centre I Project Area
Process Special Land Use Permits
-- Process Business licenses
The Honorable Mayor and City Council 6
May 20, 1994
Process Signs Applications
Review development of private projects
Staff Town Centre I Project Area Committee
. Staff Support: Town Centre Project Area Committee
. Implementation Neighborhood Revitalization Program
. Production of Otay Watch Newsletter
. Organize Otay Fair
Economic Develooment
Economic Development establishes goals and implements activities related to
enhancing the City's economic base. Primary program areas include direct
business assistance (retention and attraction); incentive program development;
marketing and public relations; and market-related data base
collection/maintenance.
Overall responsibilities include the direct staffing of the Council directed Economic
Development Program and related Boards, Commissions and Committees.
Recently completed or nearly completed projects include:
Rancho Del Rey Commercial Center
. 500,OOO-square foot "power center" anchored by Price Club, K-Mart, and
Home Depot
. Estimated 400 construction jobs and 1200 permanent jobs, with priority
hiring and training of local residents
· City investment approximately $2.7 million (approximately $2 million being
reimbursed by Price Club)
· Estimated first-year revenues: $2.6 million
Permit Streamlining
. Economic Development Commission recommended 25 permit streamlining
initiatives that Council adopted and have been or are being implemented
. Includes consolidation of review bodies, computer tracking system, written
procedures for the applicant, ombudsman, customer service cards, etc.
· Current Status of Implementation:
o Created interdepartmental project review teams
o Established weekly interdepartmental coordination meetings at
management level
o . Interdepartmental committee created to coordinate plan check/permit
process
o .Implemented computerized permit tracking system
The Honorable Mayor and City Council 7
May 20, 1994
o Initiated publication of departmental brochures outlining review process
o New customer service card and suggestion boxes
o Completed revised roles and functions for the Agency's three Project
Area Committees (PACs) and consolidated the Montgomery Planning
Commission with the Southwest PAC to avoid project processing
duplication
On-going projects or projects that are well underway include:
Hi-Tech/Bio-Tech Zone
· City working with EastLake and High Tech/Biotech community to designate
EastLake Business Center as Hi-Tech/Bio-tech Zone
· Developing incentives for targeted businesses--to include guaranteed water
supply, guaranteed 50-day turnaround for permits, Council Subcommittee,
and financial incentives including potential shared pilot manufacturing facility
· City approved $100,000 for Master EIR on Phase II of Business Park
Border Environmental Commerce Alliance IBECA}
· City pursuing establishing a regional incentive zone for environmental
businesses I "clean" businesses, producers of environmental products,
environmental remediation businesses, environmental consulting firms, etc.)
· Goals to establish Environmental Technology Center and Environmental
Incubator in Chula Vista, as well as regional financial incentives
· Endorsements from County of San Die.go, Imperial Beach and National City,
San Diego Economic Development Commission, South County Economic
Development Commission, State, Sierra Club
· City has funded $100,000 from Community Development Block Grant for
administration of zone
Workforce Development Team
· Developed standard City/Employer agreement for local employment service
providers
· Developing job training strategy for biotech recruitment
· Sponsoring local educator job training forum
· Pursuing greater Chula Vista representation on job training boards
Current Community Development non-Executive Management staff that work on
Economic Development programs are:
The Honorable Mayor and City Council 8
May 20, 1994
Economic Develooment ManaQer
. Border Environmental Commerce Zone
. High Tech/Bio Tech Zone
. Economic Development Commission (Including Subcommittees)
. Implementation of City Economic Development Plan
. Coordination with Local, Regional, State, and National Economic
Development Agencies and Programs
Community Develooment Soecialist II
. Staff Support: Economic Development Commission
. Feasibility analysis of new HUD Section 108 Loan Guarantee Program
. Feasibility analysis of creating a Business Assistance Revolving Loan
Fund/Micro Loan Fund using Redevelopment, CDBG, and/or private funds
. Evaluation of Industrial Development Bond administrative fees policy;
development of fee structure
. Development of financial assistance marketing materials
. Development of Job Training-Related Programs
. Staff support to Workforce Development Team
. Pursuing Chula Vista representation on job training-related Boards and
Commission, including San Diego Consortium and Private Industry Council
. Developing standard employment services agreement for new Chula Vista
employers and local job training agencies
. Coordinating employment service agreements with employers, including K-
Mart and Jerome's
. Developing employment services assistance package and presentation for
local business and business attraction
. Coordinating Workforce Development Team's local education forum
. Staff Support: High Tech/Biotech Zone
Research and development of Issue Paper outlining issues relating to
such items as Facility Financing, Water, and Development Review Needs
and Toxic Waste Impacts
Researching Biotech and High Tech shared facility programs
. Development of initial Business Retention Program (Phase 1)
. Support for Marketing/Public Relations
. Liaison to Chula Vista Chamber of Commerce
Community Develooment 80ecialist I
. Economic Development Data Base Research and Maintenance
. General Business Assistance to walk-ins, calls, referrals (Retention and
Attraction) :
-- Site selection assistance
The Honorable Mayor and City Council 9
May 20, 1994
Financial Assistance
Technical assistance referrals
Coordination with outside economic development agencies (e.g,
SBDC/ITC, SBA, CACT, SDEDC, State Trade & Commerce, etc.)
. Marketing/Business Outreach
. Staff Support to BECZ (limited)
. Special Projects, as Assigned:
Assistance with development of Industrial Water Policy, including
personal interviews of surveyed firms
Housina/Bfock Grant
Housing/Block Grant pursues the preservation and development of affordable
housing opportunities throughout the City and the physical and social improvement
of low-income neighborhoods by funding capital improvements, housing programs,
and social service programs.
The general overall responsibilities of the housing staff is to administer the
Community Development Block Grant Program, provide affordable housing
opportunities utilizing redevelopment housing set-aside funds, and staff all related
Boards, Commissions and Committees.
Housina/Block Grant Proiects:
At-Risk Housing
. 168 affordable apartment units (palomar Apartments) at risk of converting
to market rate due to pre-payment of HUD loan
. Hud to provide guarantee on bond issue financing for $10 million acquisition
cost
. City provided $85,000 pre-development loan to South Bay Community
Services to buy the project to preserve the affordability in perpetuity
Bayscene Mobilehome Park
. City exploring the possibility of acquiring 126-space mobilehome park
currently for sale; estimated sale price is $4.1 million
. City would preserve afford ability by reducing rent escalations, would involve
residents in park management, and would provide spaces as available to
homeowners displaced by other mobilehome parks that close
Housing Authority
. City formed its own housing authority, which will provide local autonomy
The Honorable Mayor and City Council 10
May 20, 1994
over the use of the Section 8 Rental Assistance Subsidy Program and other
housing programs
. Intended to be operating and self-sufficient within two years, with funding
for staff costs derived from Federal administrative allowances at that point
Mortgage Credit Certificate Program
. Benefits first-time, low and moderate income homeowners of new or
existing units by issuing certificates for federal tax credits, thus increasing
their buying power
. Approximately 100 certificates available
Neighborhood Revitalization Program
. Concentrates City efforts and funding on specific neighborhoods with
physical and social deficiencies
. Installs public improvements, does housing rehabilitation, and fosters
neighborhood involvement and identity
. Just completed five-year effort in Otay Town
. Castle Park "B" selected as new neighborhood for 3-year NRP effort; first
neighborhood meeting scheduled in January 1994
. Uses predominantly Community Development Block Grant funds
(approximately $500,000 per year) and housing set-aside funds
(approximately $200,000 per year)
Park Village Apartments
. Recently completed 28-unit very-low income apartment project, with on-site
day care and job-training services
. Priority provided to mobilehome park displacees
. Agency provided $300,000 loan to assist non-profit to develop the project;
possible prepayment of that loan being negotiated to generate revenue for
other projects
Short-Term Housing Development
. Existing 14-unit apartment complex recently acquired by local non-profit
social service and housing agency to provide 60-day housing for homeless
families
. Families provided with counseling, job training, and other social services
while in residence. with intent to resolve crisis situation and move them to
transitional housing and ultimately back into market housing
. City/Agency provided $610,000 acquisition/rehabilitation loan; loan is
deferred for 30 years with possible extensions; if project is discontinued,
The Honorable Mayor and City Council 11
May 20, 1994
Agency receives equity participation
Veterans Home
. City has been named a priority site for a 400-bed, $30 million dollar
Southern California Veteran's Home by the Governor's Siting Committee
. State is expected to decide on site mid-1994
. Veterans Home wO,uld create 500 temporary construction jobs and 250
permanent jobs. Hotel/motel and restaurant business yvould be enhanced by
visiting families
. City has offered 20 acres of free land, the construction of an access road,
and the waiver of certain fees
The following non-Executive Management Community Development staff work on
housing projects:
Housina Coordinator
· Housing Division Management
. Manage Recreation/Fun Center Project
· Manage Veterans Home Project
· Oversee CDBG Administration
· Oversee HOME Program
· Review Affordable Housing Agreements
· Staff Housing Advisory Committee
· Staff Mobilehome Rent Review Commission
· Manage Park Village Apartments Project
· Manage Chula Vista Housing AuthOrity
. Oversee Palomar At Risk Housing Project
· Oversee 31 Fourth Avenue Homeless Project
. Assist with Bayscene Mobilehome Park Project
· Assist with Trolley Terrace Project
· Prepare AB315 Report to HUD
. FEMA Board
Community Develooment Soecialist I
· CDBG Administration
· Housing Rehabilitation Administration
· HUD Reports
-- Annual Plan/Annual Performance Review
-- Rental Rehabilitation Annual Report
· Staff support to:
-- Housing Advisory Committee
The Honorable Mayor and City Council 12
May 20, 1994
CHIP Loan Committee
CHRB
Reinvestment Task Force
Communitv Develooment Soecialist
· Bayscene Mobilehome Park Acquisition
· South Bay Community Services (SBCS) Section 236 At-Risk Units
Acquisition
· Mobilehome Space Rent Arbitration
· Manage Trolley Terrace Housing and Day Care Project
· Staff Mobilehome Rent Review Commission
· Monitor Orange Tree Mobilehome Park
· Monitor Mobilehome Park Conversions
· Assist with Affordable Housing Agreements
Administrative Analvst 1.40)
· Preparation of the Department's Annual Budget
· Mortgage Credit Certificate (MCCl Program Administrator
· Community Development Block Grant (CDBG) coordination
· Process Departmental Financial Requests
· Prepare Written: 0 Grantee Performance, 0 Single Audit,
o Biennial, 0 MCC IRS, 0 Bond Issue, and 0 Annual Report to State reports
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