RES-ORA-0332 Owner Participation Agreement Between Redevelopment Agency and Chapman UniversityRESOLUTION
NO.
ORA-
0332
RESOLUTION OF THE BOARD OF DIRECTORS OF THE ORANGE
REDEVELOPMENT AGENCY APPROVING AN OWNER PARTICIPATION
AGREEMENT BETWEEN THE ORANGE REDEVELOPMENT AGENCY AND
CHAPMAN UNIVERSITY PROVIDING, AMONG OTHER THINGS, FOR
THE DEVELOPMENT OF A MINIMUM 700 SPACE PARKING
STRUCTURE AND THE ACQUISITION BY THE AGENCY OF THE
RIGHT TO USE 350 SPACES THEREIN, IN COMMON, WITH
CHAPMAN UNIVERSITY (TOTAL OF $3,250,000 FROM SOUTHWEST
AND NORTHWEST PROJECT AREAS)
THE BOARD OF DIRECTORS OF THE ORANGE REDEVELOPMENT
AGENCY HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. Chapman University, a California nonprofit
corporation, (the "Participant") is the fee owner of certain real
property located at 370 North Glassell Street, Orange, California
the "Site"). Pursuant to the Owne!r Participation Agreement
between the Orange Redevelopment Agency (the "Agency") and the
Participant, presented to the Agency at this meeting, the
Participant proposes to develop a port:ion of the Site with a
parking structure to accommodate a minimum of 700 automobiles
the II Parking Structure"), which is to be available for both
university and public parking purposes.
Section 2. Pursuant to t~he Owner Participation
Agreement and the provisions of the Community Redevelopment Law
California Health and Safety Code Section 33000, et seq.), the
Agency will acquire an easement for the public use of at least
350 spaces in the Parking Structure for a period of 15 years.
Section 3. The Parking Structure will be located in
the Southwest Project Area of the Agency and in close proximity
to the Northwest Project Area of the Agency (collectively, the
Project Areas"). The Project Areas a.re areas in which the
combination of conditions of blight. is: so prevalent and so
substantial that it causes a reduct.ion of, or lack of, proper
utilization of the areas to such an e~tent that it constitutes a
serious physical and economic burden on the community which
cannot. reasonably be expected to be reversed or alleviated by
privat.e enterprise or governmental action, or both, without
redeve:lopment. The proj ect Areas a.re characterized by properties
which suffer from economic dislocat.ion, deterioration or disuse,
including depreciated or stagnant property values and impaired
investments. The Site presently conta.ins a building in which it
is unsafe and unhealthy for persons: to work because of
dilapidation and deterioration and which is conducive to juvenile
delin<;[Uency and crime. Such conditions tend to further
deterioration and disuse because of the lack of incentive to
landowners and their inability to improve, modernize or
rehabilitate their property while the condition of the
neighboring property remains
unchanged..
In addition, the Project
970521 11(191-00002 rdh 1672895
Areas are characterized by the existence of inadequate public
improvements, including parking facilities.
The installation and construction of the Parking
Structure will assist in the elimination of conditions of blight
in the~ Project Areas which are caused by dilapidation and
deteri.oration and inadequate public improvements. This will
encourage private sector investment in the Project Areas and
thereby facilitate the redevelopment of the Project Areas. This
in turn will create employment opportunities for the residents of
the Project Areas, all for the benefit. of the health, safety and
welfare of the residents and taxpayers: of the Project Areas.
Section
4. The budget constraints of the City prevent the
Ci.ty from financing the acquisition of an easement for such spaces
in the Parking Structure by any means. Traditional methods
of financing such as the issuance of general obligation bonds
are unavailable as a practical matter because of the extraordinary
majority voter approval requirements of two-thirds
of the: electorate. Financing through other obligations, such as
certificates of participation, is also unavailable because such
financing would require a long-term commitment of general
fund revenues of the City, and there are insufficient revenues
for that purpose. Assessment financing or special tax
financing could overburden benefitting properties with assessments
or special taxes which would be added to existing taxes
and assessments, and, in addition, special taxes require a
two-thirds vote and assessment financing is subject to a
majority protest.Section 5. The Agency hereby finds and
determines that based upon the foregoing and other information presented
to the Agency: (i) the Parking Structure is of benefit to
the Project Areas and to the immediate neighborhood in which the
project is locate:d; (ii) the payment of funds for the cost of
acquisition of an easement for spaces in the Parking Structure assists
in the elimination of blighting conditions inside the Project
Areas by rehabilitating a dilapidated and deteriorated structure
and by remedying the lack of adequate public
improvements, thereby encouraging private sector investment in the Project
Areas and creating job opportunities for the residents of
the Project Areas; (iii) the payment of funds for the cost of
acquisition of an easement for spaces in the Parking Structure
is consistent with t.he Agency's implementation plan adopted pursuant
to Health and Safety Code Section 33490; and (iv) no other
reasonable means of financing such parking are available to
the City.970521 11091-00002
rdh 1672895 1
Section 6. The Agency hereby approves payment by the
Agency for the cost of the easement pursuant to the Owner
Participation Agreement and hereby authorizes the Chairman of the
Agency to execute the Owner Participation Agreement for and on
behalf of the Agency.
PASSED, APPROVED and ADOPTED this 27th day of
May 1997.
velopment
ATTEST:
Clerk of
Agency
I hereby certify that the foregoing Resolution was duly and
regularly adopted by the Orange Redevelopment Agency at a regular
meetin9 thereof held on the 27th day of May , 1997 by
the following vote:
AYES:DIRECTORS: MURPHY, COONTZ, SPURGEON, ALVAREZ
NOES:DIRECTORS: NONE
ABSENT:DIRECTORS: NONE
ABSTAIN:DIRECTORS:
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