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Home My WebLink About12_13_2005 - ORA MinutesI I APPROVED BY THE DlRECTORS ON JANUARY 10,2006 ORANGE REDEVELOPMENT AGENCY ORANGE, CALlFORNIA MINUTES OF A REGULAR MEETlNG December 13,2005 4:30 P.M. SESSION The Orange Redevelopment Agency of the City of Orange, California convened on December 13, :W05 at 4:30 p.m. in a Regular Meeting in the Council Chambers, 300 E. Chapman Avenue, Orange, California. 1. ROLL CALL PRESENT -ABSENT - Smith, Ambriz, Murphy, Cavecche, Dumitru None 2. PUBLIC COMMENTS - None.3. CONSENT CALENDAR 3.1 Request Agency confirmation of warrant registers dated November 17, 23 and December 1, 2005. ACTlON:Approved.3. 2 Request approval of Redevelopment Agency Minutes, Regular Meeting of November 22, 2005. ( RC2500.D.4)ACTION:Approved.MOTION SECOND AYES Cavecchc Smith Smith, Ambriz, Murphy, Cavecche, Dumitru The Consent Calendar was approved as recommended.END OF CONSENT CALENDAR 4.REPORTS FROM DIRECTORS - None.5.REPORTS FROM BOARDS, COMMITTEES, AND COMMISSIONS - None.6. REPORTS FROM EXECUTIVE DIRECTOR - None.PAGE 1 ORANGE REDEVELOPMENT AGENCY MINUTES December 13, 2005 7. ADMINISTRATIVE REPORTS 7.1 Report from the Assistant Executive Director regarding the Annual Report of the Orange Redevelopment Agency for Fiscal Year 2004-2005, and authorization to submit the report to the City Council of the City of Orange. (R3500. 0)Related City Council Item No. 7.3 See City Conncil Minutes for discussion)SUMMARY: The Annual Report describes the activities of thc Redevelopment Agency during Fiscal Year 2004-2005, and includes a Comprehensive Annual Financial Report relating to the Agency' s finances.RESOLUTION NO. ORA-0447 A Resolution of the Orangc Rcdcvelopment Agency approving the Annual Report of the Orange Redevelopment Agcncy for Fiscal Year 2004-2005 and authorizing its submittal to the City Council of the City of Orange.MOTlON - Dumitru SECOND - Smith A YES - Smith, Ambriz, Murphy, Cavecche, Dumitru Moved to approve Rcsolution No. ORA-0447.7.2 First Amendment to Development Agreement by and between the City of Orange and CA- The City Limited Partnership, a Delaware limited partnership for what is commonly known as the City Plaza Two Site, located north of Metropolitan Drive midway between Lewis Street and The City Drive, and the 605 Building Site, located at the northeast corner of the intersection of Lewis Street and Metropolitan Drive. ( RA2100.0 Agr-4545.1 )This item to be heard concnrrently with City CouncilItem No. 12.4 See City Council Minutes for discussion)SUMMARY: CA-Thc City Limited Partnership (EOP) has requested the City to amend that certain Development Agreement, which was approved by the City Council by the adoption of Ordinance No. 19-04 on September 28, 2004, to enable EOP to cxtcnd thc time by which certain Public Bencfit Fees are to be paid to the City upon the happening I I ORANGE REDEVELOPMENT AGENCY MINUTES December 13,2005 7. ADMINISTRATIVE REPORTS (Continued) MOTION - Cavecche SECOND - Dumitru A YES - Smith, Arnbriz, Murphy, Cavecche, Dumitru Moved that the proposed First Amendment to Development Agreement promotes the policies and purposes of the Amended and Restated Redevelopment Plan for the Orange Merged and Amended Redevelopment Project and recommend that the City Council approve said agreement.FISCAL IMPACT: The approval of the First Amendment to Development Agreement will extend the date by which EOP might be required to pay certain Public Benefit Fees to the City from October 28, 2005 to January 30, 2006.7.3 Second Amendment to Disposition and Development Agreement by and between Orange City Mills Limited Partnership, a Delaware limited partnership (Developer) and the Orange Redevelopment Agency (Agency); and Second Amendment to Restrictive Covenant and Declaration of Covenants, Conditions, Restrictions and Easements by and among the Developer, the City of Orange (City) and the Agency related to The Block at Orange commercial and retail development. (RA2100.0 Agr-2672.2)This item was heard concurrently with City Council Item No. 12.3. See City Council Minutes for discussion)SUMMARY: The proposed amendments represent a response to the Developer's request to reconfigure the expansion uses that were approved by the Agency Board of Directors on February 4, 2004 in the form of first amendments to the Disposition and Development Agreement and the Restrictive Covenant and Declaration of Covenants, Conditions, Restrictions and Easements. The proposed amendments will operate to enable the Developer to: (i) develop 403 condominium units and related parking in lieu of the previously approved 500 apartmcnt units, (ii) reconfigure the number of spaces and size of the three previously approvcd parking structures, (iii) reorient one of the two previously approved hotels, and (iv) reconfigure an entryway road from Metropolitan Drive.MOTION - Ambriz SECOND - Cavecche A YES - Smith, Ambriz, Murphy, Cavecche, Dumitru Moved to:1. Approve the Second Amendment to Disposition and Development Agreement by and between the Agency and the Developer;2. Approve the Second Amendment to Restrictivc Covcnant and Dcclaration of Covenants,Conditions, Restrictions and Easements executed by the Developer in favor of the Agency and the City; and 3. Authorize the Chairman to execute, and the Agency Clerk to attest, those documents on behalf of the Agency.PAGE 3 ORANGE REDEVELOPMENT AGENCY MINUTES December 13, 2005 7. ADMINISTRATIVE REPORTS (Continued) 7.4 Amended and Restated Development Agreement by and between Orange City Mills Limited Partnership, a Delaware limited partnership, and the City of Orange related to The Block at Orange commercial and retail development. (RA2100.0 Agr- 4818)This item to be heard concurrently with City Council Item No. 12.3. See City Council Minutes for discussion)SUMMARY: In 2004, the City Council of the City of Orange approved a Development Agreement by and between the City of Orange (City) and the Orange City Mills Limited Partnership (the Mills) relating to the expansion of The Block at Orange with 120,000 square feet of retail uses, two new hotels, three new parking structures and 500 apartment units. The Mills has applied to the City for the modification of Conditional Use Permit No. 2461-03 and Major Site Plan Review No. 300-03 and an amendment to the Development Agreement for the purpose of modifying some of those expansion uses, generally described as 403 condominium units and related parking to be constructed in lieu of 500 apartment units, the reconfiguration of the number of spaces and size of the three parking structures, the reorientation of one of the hotels,and the reconfiguration of an entryway road from Metropolitan Drive. MOTlON - Cavecche SECOND - Dumitru A YES - Smith, Ambriz, Murphy, Cavecche, Dumitru Moved that the proposed Amended and Restated Development Agreement promotes the policies and purposes of the Amended and Restated Redevelopment Plan for the Orange Merged and Amended Redevelopment Project and recommend that the City Council approve said agreement. FISCAL IMP ACT: Approval of the Amended and Restated Development Agreement, and subsequent project implementation, will result in additional revenue to the City and the Agency. At build-out, the Project will generate over $7 million in development fees, over $1 million in annual sales and transient occupancy tax revenue and $2.13 million in annual property tax increment revenue above what is being generated at present. The Mills will also file necessary paper work for the City to be the point of sale for construction and tenant improvements for the new buildings, which will also generate additional sales tax revenue.PAGE I I ORANGE REDEVELOPMENT AGENCY MINUTES December l3, 2005 7. ADMINISTRATIVE REPORTS (Continued) 7.5 Affordable Housing Loan Agreement by and among the Orange Redevelopment Agency, the City of Orange, and Hoover & Wilson I, LP regarding 218-228 West Hoover Avenue and making certain findings. (RA21 00.0 Agr-4820)Related City Council Item No. 7.6. See City Council Minutes for discussion)SUMMARY: Hoover & Wilson I, LP, which is a partnership of Orange Housing Development Corporation (OHDC) and C+C Development, plans to acquire and rehabilitate a 20-unit apartment complex located at 218-228 West Hoover Avenue. The total estimated cost ofthe project is $4,460,605. Under the terms of the proposed Affordable Housing Loan Agreement,the City will provide $1,782,004 in federal HOME funds and the Agency will provide 2,043,578 Housing Set-Aside funds in the form of a 65-year loan. In return for the assistance,the units would remain affordable to very low-income households for a 65-year period.RESOLUTION NO. ORA-0449 A Resolution of the Orange Redevelopment Agency approving an Affordable Housing Loan Agreement by and among the Orange Redevelopment Agency, the City of Orange, and Hoover &Wilson I, LP regarding 218-228 West Hoover Avenue and making certain findings.MOTION - Ambriz SECOND - Cavecche A YES - Smith, Ambriz, Murphy, Cavecche, Dumitru Moved to:1. Adopt Resolution No. ORA-0449;2. Transfer $2,043,578 from unappropriated reserves in the Orange Merged Housing Fund Fund 941) to Housing Loan Programs (Fund 913) and appropriate funds in the amount of 2,043,578 to the Hoover Wilson II Loan project account (913-9800-485701-9221)Agency];3. Transfer $877,786.91 from the following accounts to account 317-9660- 485702-9221 HOME - Hoover Wilson II Conditional Grant/ Loan) for the project [ City]:114,814 from account 317-9660-485100-1210 ( HOME Community Housing Development Organization [CHDO] Funds);608,147 from account 317- 9660- 485100-1250 (HOME Developer funds); and 154,825.91 from account 317-9660-485802- 9205 (W. La Veta Senior Housing project)City].4. Transfer $783, 217.09 in Housing Grant Programs fund (Fund 317) from unapporpriated reserves to account 317-9660-485702-9221 (HOME - Federal Home Program - Hoover Wilson II Conditional Grant/Loan project account) for the project [City];5. Transfer $121,000 in Housing Grant Programs fund ( Fund 317) ORANGE REDEVELOPMENT AGENCY MINUTES December 13, 2005 7. ADMINISTRATIVE REPORTS (Continued) FISCAL IMP ACT: The total amount of Agency and City funds to be committed to the project is 3,825,582. The City will provide $1,782,004 in federal HOME funds, in which there exists an uncommitted fund balance of approximately 2.2 million including funds that previously were committed to projects that are completed and funds that will be received from the anticipated sale of the Citrus site. The Agency will provide $2,043,578 Housing Set-Aside funds, which has an unappropriated fund balance of approximately $9.3 million (pending City Council/ Agency Board approval of this item). There are no state or county housing funds available for this type of acquisition! rehabilitation project.7.6 Affordable Housing Loan Agreement by and between the City of Orange, Orange Redevelopment Agency and Hoover & Wilson I, LP regarding 108-118 West Hoover Avenue and making certain findings. (RA2100. 0 Agr-4821)Related City Council Item No. 7.7. See City Council Minutes for discussion)SUMMARY: Hoover & Wilson I, LP, which is a partnership of Orange Housing Development Corporation (OHDC) and C+C Development, plans to acquire and rehabilitate a 20-unit apartment complex located at 108-118 West Hoover Avenue. The total estimated cost of the project is $4,321,202. Under the terms of the proposed Affordable Housing Loan Agreement,the Agency will provide $3,484,353 in Housing Set-Aside funds in the form of a 65-year loan.In return for the assistance, the units would remain affordable to very low-income households for a 65-year period.RESOLUTION NO. ORA-0448 A Resolution of the Orange Redevelopmcnt Agency approving an Affordable Housing Loan Agreement by and between the Orange Redevelopment Agency and Hoover & Wilson I, LP regarding 108- 118 West Hoover Avenue and making certain findings.MOTION - Ambriz SECOND - Smith A YES - Smith, Ambriz, Murphy, Cavecche, Dumitru Moved to:1. Adopt Resolution N'o. ORA-0448;2. Transfer $3,484,353 from unappropriated reserves in the Orange Merged Housing Fund (Fund 941) to Housing Loan Programs (Fund 913) and appropriate funds in the amount of$3,484,353 to the Hoover Wilson I Loan project account (913-9800-485701-9220) [Agency].FISCAL IMPACT: The total amount of Agency funds to be committed to the projcct is 3,484,353, which will be in the form of an Agency Housing Set-Aside Loan. The Housing Set-Aside fund has an unappropriated fund balance of approximately $10.1 million. As a result of the proposed funding for the nearby project at 218 and 228 West Hoover, HOME funds are not available for this project. There are no state or I I ORANGE REDEVELOPMENT AGENCY MINUTES December 13, 2005 8. LEGAL AFFAIRS - None.9. RECESS TO CLOSED SESSION Note: The Agency did not recess.a. To consider and take possible action upon such other matters as are orally announced by the General Counsel, Executive Director of the Board of Directors prior to such recess unless the motion to recess indicates any of the matters will not be considered in Closed Session.10. ADJOURNMENT The Agency adjourned at 11 :10 p.m. The Regular Orange Redevelopment Agency meeting of December 27, 2005 will be cancelled. The next regular ORA meeting will be January 10,2006. Declaration of the Clerk of the Orange Redevelopment Agency, Mary E. Murphy,declaring posting of Orange Redevelopment Agency Agenda of a regular meeting of December 13, 2005 at Orange Civic Center kiosk, Police facility at II07 North Batavia,Shaffer Park; all of said locations being in the City of Orange and freely accessible to members of the public at least 72 hours before commencement of said regular meeting;and available at the City Clerk's Office.t!<<<= tC~-1:MARYEMURPHY ~AGBNCY CLERK ' _J PAGE 7