Loading...
RES-ORA-0396 West Chapman Avenue Reinvestment Programs EstablishmentRESOLUTION NO. ORA- 0396 A RESOLUTION OF THE ORANGE REDEVELOPMENT AGENCY ESTABLISHING THE WEST CHAPMAN A VENUE REINVESTMENT PROGRAMS.WHEREAS, by Ordinance No. 37-84 adopted on November 20,1984, the City Council of the City of Orange adopted and approved a certain Redevelopment Plan ( the "Redevelopment Plan") for the Southwest Redevelopment Project Area, which was thereafter amended by (i)Ordinance No. 20-86 adopted on July 15, 1986, (ii) Ordinance No. 24-88 adopted on July 12,1988, and (iii) Ordinance No. 17-96 adopted on July 9, 1996 (the "Redevelopment Project"); and WHEREAS, pursuant to the Community Redevelopment Law of the State of California Health and Safety Code Sections 33000 et seq.), the Orange Redevelopment Agency (the Agency") is carrying out the Redevelopment Plan for the Redevelopment Project in the redevelopment area (the "Project Area"); and WHEREAS, in furtherance ofthe Redevelopment Project and pursuant to Section 33445 of the Community Redevelopment Law, the Agency desires to establish three programs, which are more particularly described on Exhibit "A" attached hereto. under which it will loan funds from the tax increment revenues of the Project Area, bond proceeds, and any other funds of the Agency legally available therefor, to owners or business tenants within the Redevelopment Project who are located along Chapman Avenue between Main Street on the east and the City boundaries on the west and who qualify therefor under the terms and provisions of the programs;and WHEREAS, the Board of Directors of the Agency desires to appropriate an initial sum of $500,000 for the programs; provided, however, that said appropriation does not presently constitute a pledge of any particular funds and is and shall be subordinate to any pledge or other commitment of the Agency made in connection with any Agency bonds, now or hereafter issued;and WHEREAS, the Board of Directors of the Agency has duly considered all of the terms and conditions of the proposed programs in the form attached hereto as Exhibit "A" and believes that such programs are in the best interest of the City and the health, safety, morals and welfare of its residents, and in accord with the public purposes and provisions of applicable State and local law and requirements.NOW, THEREFORE, the Orange Redevelopment Agency does hereby resolve as follows:Section 1. Each ofthe foregoing recitals is Section 2. The programs, as described in Exhibit "A" attached hereto, are hereby approved and the use of $500,000 in Agency funds for the purposes described in Exhibit "A" will be of benefit to the Project Area. Section 3. The General Counsel is hereby authorized and directed to prepare all documents necessary to implement the programs. Section 4. The Executive Director, or his designated representative, is authorized, on behalf of the Agency, to take such steps and execute such documents on behalf of the Agency as are necessary and appropriate for the implementation of the programs to qualified owners and tenants. Section S. The Agency's Fiscal Year 2001-02 is amended by transferring $500,000 from the unappropriated reserves in the Southwest Project Debt Service Fund (Fund 981) to the Southwest Project Operations Fund (Fund 920) and thereafter appropriating a like amount to the West Chapman Reinvestment Program project account (920-9811- 485702-9877) for the purposes described in Exhibit "A" attached hereto.Section 6. The officers and employees of the Agency are authorized and directed, jointly and severally, to make such other revisions, changes in summaries, fund totals, grand totals, and other portions of the budget document as shall be necessary to reflect said transfer and appropriation.Section 7. The officers and employees of the Agency are authorized and directed, jointly and severally, to do any and all things necessary or advisable in order to effectuate the purposes of this resolution, and all actions previously taken by such officers and employees in connection with the programs are ratified and approved.ADOPTED this 10th day ofJuly, 2001.ATTEST:lerk of the Orange Redevelopment Agency Reso No. I hereby certify that the foregoing Resolution was duly and regularly adopted by the Orange Redevelopment Agency at a regular meeting thereof held on the 10th day of July, 2001. AYES: DIRECTORS: NOES: DIRECTORS: ABSENT: DIRECTORS: ABSTAIN: DIRECTORS: Reso No. ORA- 0396 SLATER, ALVAREZ, MURPHY, COONTZ, CAVECCHE NONE NONE NONE lerk ofthe Orange Redevelopment Agency 3 WEST CHAPMAN AVENUE Reinvestment Programs OVERVIEW West Chapman Avenue is a vital corridor to the City of Orange and the surrounding region. This two-mile passageway links the City's most important visitor attractions, The Block at Orange and Old Towne Orange. It also serves as a gateway to Orange from the Anaheim resort and stadium areas, providing an opportunity to capture a portion of the 30 million tourists who visit these venues annually. West Chapman Avenue is also an important source of retail and professional services for the surrounding residential neighborhoods. hnproving the West Chapman Avenue streelSCape will effect positive change and promote economic development activities.Plans are currently underway to widen West Chapman Avenue from Main Street to the Orange Freeway (SR-57) in the next 2-3 years. The improvement project will widen West Chapman Avenue from two to three lanes in each direction as well as significantly improve traffic flow along the Avenue. It is critical that the design and character of the properties along West Chapman Avenue promote a positive, aesthetically pleasing image.Proposed is the West Chapma;1 Avenue Reinvestment Strategy comprised of three specialized programs. The programs are tailored to encourage property owners/tenets to upgrade signage,enhance landscape treatment, and improve exterior f~ades along West Chapman Avenue, The programs offer financial assistance in the form of loans to encourage new investment, leverage private investment, enhance and increase property values, facilitate needed building improvements, and assist in business attraction and expansion efforts.PROGRAM HIGHLIGHTS Sign Enhancement and Replacement Incentive ("SERI") Program - Matching Loan Program The SERI Program is a SO/50 Matching Loan program available for signage upgrades. This program is geared to assist property owners/tenets to promote their businesses while creating more attractive signage. SERI offers property owners the needed financial assistance to help remove existing signs and upgrade/construct signs that meet building and safety codes.No interest SO/50 Matching Lou" Funds up to $25,000 for new freestanding and/or building signs.Funds may be used for sign removal, new sign design concept, replacement sign costs,permits and fees, and electrical work related to sign installation.New sign design must be approved by both City and Agency.Loan amount will be forgiven over a period of five years as long as Applicant meets certain conditions and business continues operations and/or property has not changed ownership. 'West Chapman Avenue Reinvestment Programs 6114101/wc reinvestment Landscape Enhancement Incentive Financing Program ("LEIF") - Matching Loan Program The LEIF Program is a loan program for landscape enhancement. LEIF is specially tailored to assist properties impacted by the widening of West Chapman Avenue. This program is intended to provide property owners/tenets with financial assistance to enhance their properties through landscape treatments. U'Iderthe LEIF program, property owners can pursue much needed aesthetic improvements to their property thereby creating an environment more attractive,inviting and conducive for business activity.No interest 50/50 Matching Loans Funds up to S50,ooo for landscape enhancements.Funds may only be used for landscaping design and plans, construction of landscape improvements including planting, trees, shrubs, and installation of irrigation system.Both City and Agency must approve all final landscape plans.The loan amount will be forgiven over a period of five years as long as the Applicant meets certain conditions and business continues operations and/or property has not changed ownership.Commercial Area Rehabilitation and Enhancement ("CARE") - Low-Interest Rate Loan Program The CARE loan program is a below market interest rate loan program created to meet the needs of property owners to fund exterior f~e and other site improvements that are necessary to improve the visual appearance of the buildings that front West Chapman Avenue.Loans of S5,000 up to a maximum of S250,Ooo.Fixed two percent (2%) interest rate Term ofloans 1) Under SIO,ooo (maximum of5 years)2) SIO,OOO - S100,OOO (10 years)3) S100, OOO and higher (IS years)Loans under S25,OOO may be unsecured.Loans S25, ooo or greater will require collateral.Loans may be used for exterior fa~ade treatment, architect fees, utility undergrounding,parking and other site improvements.20% forgiveness of original principal loan if timely payments made on first 80%.West Chapman A venue Reinvestment Programs 6/1 4/0 I Iwc reinvestment strategy program f1) n s l~ JQ = f1) f1) f1) =s f1) Q f Q JQ f S I! d Sf I> JP'~ i. ,',/ !." ". . ..'~ .i;<:,; 1~ t~ r,;:;:It, I",. ,T flFD:~Jl 5T LEJ m\TlTI][ r=fiml' I~ WmFl ORII ~.