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RES-ORA-0489 Cooperation & Reimbursement Agreement Portion of Cost El Camino Park RenovationRESOLUTION NO. ORA- 0489 RESOLUTION OF THE ORANGE REDEVELOPMENT AGENCY APPROVING AND AUTHORIZING THE EXECUTION OF A COOPERATION AND REIMBURSEMENT AGREEMENT BY AND BETWEEN THE CITY OF ORANGE AND THE ORANGE REDEVELOPMENT AGENCY FOR THE EL CAMINO PARK RENOVATION PROJECT.WHEREAS, the Orange Redevelopment Agency, a public body, corporate and politic the Agency), has been duly created, established and authorized to transact business and exercise its powers under and pursuant to the Community Redevelopment Law ( commencing with Section 33000 of the Health and Safety Code of the State of Cali fomi a and herein referred to as the Redevelopment Law); and WHEREAS, the City of Orange (the City) is a municipal corporation, which exercises governmental functions and powers and is organized and existing under the laws of the State of California; and WHEREAS, the Amended and Restated Redevelopment Plan (the Redevelopment Plan) for the Orange Merged and Amended Redevelopment Project Area ( the Redevelopment Project Area) was duly approved by the City Council on November 27, 2001 by Ordinance No. 21-01, pursuant to the Redevelopment Law; and WHEREAS, pursuant to the Redevelopment Law, the Agency is engaged in activities necessary to carry out and implement the Redevelopment Plan for the Redevelopment Project Area; and WHEREAS, the City desires to renovate and improve its EI Camino Park with those improvements generally described in Exhibit A attached hereto (herein referred to as the Public Improvements); and WHEREAS, EI Camino Park is not located within the boundaries of the Project Area but is located in close proximity thereto and provides community facilities and places to gather socially for residents in the Redevelopment Project Area; and WHEREAS, Section 33445 of the Redevelopment Law authorizes the Agency, with the consent of the City Council, to pay all or a part of the cost of the installation and construction of the Public Improvements if the City Council determines that (a) the Public Improvements are of benefit to the Redevelopment Project Area; (b) no other reasonable means of financing the Public Improvements are available to the City; (c) the payment of funds for the Public Improvements will assist in the elimination of one or more blighting conditions inside the Redevelopment Project Area; and (d) the Public Improvements are consistent with the Agency's adopted Implementation WHEREAS, by the adoption of its Resolution No. ORA-0476 on February 26, 2008,the Board of Directors of the Agency (the Agency Board) authorized the issuance of its Orange Merged and Amended Redevelopment Project Area 2008 Tax Allocation Bonds,Series A (the 2008A Bonds) to finance the costs of certain capital projects of benefit to the Project Area, including the Public Improvements; and WHEREAS, before the Agency Board adopted Resolution No. ORA- 0476, the Agency made available for public inspection a summary report (the Summary Report), which included all of the following: (i) an estimate of the amount of tax increment revenues allocated to the Agency which the Agency proposed to use to pay for all or part of the cost of the capital projects described in the Summary Report; (ii) the facts supporting the determinations required to be made by the Agency pursuant to Section 33445 of the Redevelopment Law; and (iii) the redevelopment purpose for which such tax increment revenues would be used to pay for said capital projects; and WHEREAS, before it adopted Resolution No. ORA-0476, the Agency Board,pursuant to Section 33679 of the Redevelopment Law, held a public hearing with the City Council with respect to use of tax increment revenues for the capital projects then proposed to be financed by the issuance of the 2008A Bonds and received evidence concerning the public benefits therefrom; and WHEREAS, by the adoption of Resolution No. ORA- 0476 and Resolution No.10257, the Agency Board and the City Council, respectively, have determined that there were sufficient facts supporting the determinations required to be made by the Agency and the City Council pursuant to Section 33445 of the Redevelopment Law for the capital projects described in the Summary Report, including the Public Improvements; to wit, that (i) said capital projects are of benefit to the Project Area; (ii) said capital projects will assist in the elimination of one or more blighting conditions inside the Project Area and are consistent with the Agency's adopted Implementation Plan for the Project Area; and (iii) for that portion of said capital projects to be funded by the Agency, no other reasonable source of financing said portion of the capital projects is available to the City; and WHEREAS, in furtherance of the Redevelopment Plan for the Redevelopment Project Area and the public purposes of both the Agency and the City, the Agency and the City desire to enter into that certain Cooperation and Reimbursement Agreement for the Provision of Public Improvements of Benefit to the Orange Merged and Amended Redevelopment Project Area (El Camino Park Renovation) in the form presented at the meeting at which this Resolution is adopted (the Agreement), pursuant to which Agreement the City will cause the Public Improvements to be installed and constructed and thereafter maintained, and the Agency will payor reimburse the City for the Agency's portion of the costs of such Public Improvements in the amount not to exceed Two Million Nine Hundred Thousand and Noll 00 Dollars 2,900,000.00), as more particularly set forth in WHEREAS, the Board of Directors has duly considered all of the terms and conditions of the proposed Agreement and believes that the Agreement is in the best interests of the Agency and 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 Board of Directors of the Orange Redevelopment Agency resolves, finds and determines, on the basis of the facts set forth in the agenda report presented to it and any testimony received at the meeting at which this matter was considered, as follows: Section I: The foregoing recitals are true and correct. Section 1. The Public Improvements are of benefit to the Redevelopment Project Area; there are no other reasonable means available to the City for funding the Agency's portion of the costs of the construction of the Public Improvements other than the funds provided by the Agency; the payment of funds for the Public Improvements will assist in the elimination of one or more blighting conditions inside the Redevelopment Project Area; and the Public Improvements are consistent with the Agency's adopted Implementation Plan. Section 2. The Agreement between the Agency and the City, a copy of which is on file with the Agency Clerk, is hereby approved, and the Agency Chairman is authorized and directed to execute, and the Agency Clerk to attest, said Agreement on behalf ofthe Agency. Section 3. 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 to administer the Agency's obligations, responsibilities and duties to be performed hereunder, and all actions previously taken by such officers and employees in connection with the Agreement are ratified and approved. ADOPTED this 24th day of June, 2008. 3 ATTEST: M~~ I, MARY E. MURPHY, City Clerk of the City of Orange, California, do hereby certify that the foregoing Resolution was duly and regularly adopted by the Orange Redevelopment Agency at a regular meeting thereof held on the 24th day of June, 2008, by the following vote: AYES: NOES: ABSENT: ABSTAIN: DIRECTORS: Smith, Murphy, Cavecche, Dumitru, Bilodeau DIRECTORS: None DIRECTORS: None DIRECTORS: None tL-- r Mary E~, Clerk ."=::::"