HomeMy WebLinkAboutR30-Economic Development Agency
,
J
ECONOMIC DEVELOPMENT AGENCY
OF THE CITY OF SAN BERNARDINO
AMENDMENT #4 TO CONTRACT NO.
93-099 - LOAN AGREEMENT WITH
THE REDEVELOPMENT AGENCY OF
THE CITY OF SAN BERNARDINO,
SANBAG AND INLAND VALLEY
DEVELOPMENT AGENCY
----~-----------------------------------------------------------------------------------------------------------------------------------------------------.
FROM:
Gary Van Osdel
Executive Director
C, ,,~l~ ,'''' , ,~rUBJECT:
. .. ~.. .;J;'j~' J ~. .~
DATE:
October 30, 2000
Svnopsis of Previous Commission/Council/Committee Action(s):
On October 19, 2000, the Redevelopment Committee recommended that the Community Development Commission
approve Amendment #4 to Agreement 93-0999 and authorize the Executive Director to execute Amendment.
-------------------------------------------------------------------------------------------------------------------------------------------.
Recommended Motion(s):
(Community Development Commission)
MOTION:
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO APPROVING
AMENDMENT NO. 4 TO SAN BERNARDINO ASSOCIATED GOVERNMENT AGREEMENT
NO. 93-099 (LOAN OF $800,000.00 TO REDEVELOPMENT AGENCY OF THE CITY OF SAN
BERNARDINO AND INLAND V ALLEY DEVELOPMENT AGENCY TO PREP ARE PLANS AND
SPECIFICATiONS FOR CERTAIN MAJOR ARTERIAL STREETS) AND AUTHORIZING THE
EXECUTIVE DIRECTOR TO EXECUTE AMENDMENT NO.4
-----------------------------------------------------------------------------------------------------....--.----------------------------------------------------------------.
Contact Person(s): Gary Van Osdel
Phone:
663-1044
Project Area(s)
IVDA
Ward(s):
Supporting Data Attached: 0 Staff Report 0 Resolution(s) 0 Agreement(s)/Contract(s) 0 Map(s) 0 LetterlMemo
SIGNATURE:
Budget Authority:
N/A
N/A
FUNDING REQUIREMENTS Amount: $
N/A
Source:
--commi,s-ioii/C;.-.nciINotes:--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------.---------------------..-.---------------....-.-------
GVO:lag: 11-06-00 Sanbag #4
COMMISSION MEETING AGENDA
Meeting Date: 11106/2000
Agenda Item Number: ~
..
;
ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
Amendment to Contract No. 93-099 - Loan Al!reement with the Redevelopmept Al!encv ofthe City of San
Bernardino. SANBAG and Inland Vallev Development Al!encv
BACKGROUND
On November 24, 1992, the Redevelopment Agency (the "Agency"), the Inland Valley Development Agency
("IVDA") and the San Bernardino Associated Governments ("SANBAG") entered into Agreement No. 93-099 (the
"Agreement"), a five year loan agreement pursuant to which SANBAG loaned the IVDA, and the Agency
unconditionally and fully guaranteed repayment of, $800,000 for the design phases of the Del Rosa and Tippecanoe
connector and the Orange Show Road extension. The loan plus accrued interest was due and payable no later than
June 30, 1999
In September 1994, IVDA repaid $200,000 of the loan to SANBAG from federal Economic Development
Administration grant funds.
On June 21, 1999, the Community Development Commission approved Amendment No. I to the Agreement,
extending the deadline for repayment of the loan to within eight years of the date of the Agreement (November
2000) and requiring the IVDA and Agency to submit a repayment plan for the $600,000 balance to SANBAG within
60 days after approval of Amendment No. I.
On September 20, 1999, the Community Development Commission approved Amendment No.2 to the Agreement,
extending the deadline by which the IVDA and Agency were to submit a repayment plan for the $600,000 balance
to SANBAG. Amendment No.2 established October 6, 1999, as the new deadline for submitting the repayment
plan.
On November 3, 1999, SANBAG approved Amendment No.3 to the Agreement allowing additional time for IVDA
to present a repayment plan. Amendment No.3 would extend the period to June 30, 2000. Amendment No.3 was
never forwarded to the Agency for consideration, nor was it ever considered by the NDA.
CURRENT ISSUE
In September of this year, SANBAG and the IVDA approved Amendment No.4 to the Agreement. In a letter dated
October 10, 2000, SANBAG has asked for Commission approval of this latest amendment. The purpose of
Amendment No.4 is to establish June 30, 2004 as the date certain for repayment of the loan principal and accrued
interest, establishes a fixed interest rate of 6% on the unpaid balance, deletes reference to a repayment plan and
modifies the Promissory Note to reflect the new payoff date of June 2004.
FISCAL IMPACT
None.
RECOMMENDATION
GVO:lag: 11-06-00 Sanbag #4
COMMISSION MEETING AGENDA
Meeting Date: 11/06/2000
Agenda Item Number: fJ.3~
I
RESOLUTION NO. CDC/2000-40
2
3
4
5
6
7
8
9
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SAN BERNARDINO APPROVING AMENDMENT
NO. 4 TO SAN BERNARDINO ASSOCIATED GOVERNMENT
AGREEMENT NO. 93-099 (LOAN OF $800,000.00 TO
REDEVELOPMENT AGENCY OF THE CITY OF SAN
BERNARDINO AND INLAND VALLEY DEVELOPMENT
AGENCY TO PREPARE PLANS AND SPECIFICATIONS FOR
CERTAIN MAJOR ARTERIAL STREETS) AND
AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE
AMENDMENT NO. 4
WHEREAS, the Redevelopment Agency of the City of
10 San Bernardino (the "Agency") is a public body, corporate and
11 politic organized under the laws of the State of California; and
12
13
WHEREAS,
pursuant
to Agreement
No.
93-099
(the
14 "Agreement"), San Bernardino Associated Governments ("SANBAG")
15 loaned to the Agency and to the Inland Valley Development Agency
16 (" IVDA") the principal amount of Eight Hundred Thousand Dollars
17 ($800,000.00) (the "Loan") for the design phases of the Tippecanoe
18 and Del Rosa Avenue connector ($200,000.00) and the design phases
19 of the Orange Show Road extension ($600,000.00); and
20
21 WHEREAS, the Loan was to be repaid within five years of
22 the date of the Agreement; and
23
24
WHEREAS, in September 1994, $200,000.00 of the Loan was
25 repaid when an Economic Development Administration grant was
26 obtained and used to pay for seventy five percent (75%) of the
27 costs of the Tippecanoe and Del Rosa Avenue connector; and
28
SBEO/0001/00C/420S
10/20/00 dgw
- 1 -
..
CDCj2000-40
1 WHEREAS, federal funds for the design phase of the Orange
2 Show Road extension have not been obtained, and the IVDA and the
3 Agency have not been able to repay the Six Hundred Thousand Dollar
4 ($600,000.00)portion of the Loan within the time frame provided in
5 the Agreement; and
6
7 WHEREAS, on May 5, 1999, SANBAG approved Amendment No. 1
8 to the Agreement allowing the IVDA and the Agency to repay the Loan
9 within eight (8) years of the date of the Agreement; and
10
11 WHEREAS, Amendment No. 1 required the Agency and the IVDA
12 to present a repayment plan for the Six Hundred Thousand Dollars
13 ($600,000.00) to SAN BAG no later than sixty (60) days after the
14 approval of Amendment No.1; and
15
16 WHEREAS, SANBAG approved Amendment No. 2 to the Agreement
17 on August 4, 1999, allowing the Agency and the IVDA to present a
18 repayment plan for the Six Hundred Thousand Dollars ($600,000.00)
19 no later than October 6, 1999; and
20
21
WHEREAS, on November 3, 1999, SAN BAG also approved an
22 Amendment No. 3 to the Agreement allowing the Agency and the IVDA
23 to present a repayment plan for the Six Hundred Thousand Dollars
24 ($600,000.00) no later than June 30, 2000; and
25
26
27
28
SBEO/0001/DOC/4205
10/20/00 dgw
- 2 -
.'
CDC/2000-40
I
WHEREAS, Amendment No. 3 to the Agreement was not
2 presented to the IVDA or the Agency for approval and was never
3 approved by either the IVDA or the Agency; and
4
5 WHEREAS, SAN BAG subsequently approved Amendment No. 4 to
6 the Agreement, which supersedes and resolves the issues addressed
7 in Amendment No.3
such that Amendment No. 3 is no longer
8 necessary.
9
10
NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION,
II ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF
12 SAN BERNARDINO, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
J3 FOLLOWS:
14
15
Section 1.
Aporoval of Amendment No.4. The Agency
16 hereby approves Amendment No. 4 to the Agreement as attached hereto
17 as Exhibit "Aff.
18
19
Section 2.
Official Action. The Executive Director
20 of the Agency is hereby authorized and directed to execute
21 Amendment No. 4 and to deliver Amendment No. 4 to SANBAG. The
22 Executive Director or such other designated representative of the
23 Agency is further authorized to do any and all things necessary or
24 advisable to effectuate the purpose of Amendment No.4.
25 III
26 III
27 III
28
SBEO/0001/DOC/420S
10/20/00 dgw - 3 -
CDCj2000-40
I RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO APPROVING
2 AMENDMENT NO. 4 TO SAN BERNARDINO ASSOCIATED GOVERNMENT AGREEMENT
NO. 93-099 (LOAN OF $800,000.00 TO REDEVELOPMENT AGENCY OF THE CITY
3 OF SAN BERNARDINO AND INLAND VALLEY DEVELOPMENT AGENCY TO PREPARE
PLANS AND SPECIFICATIONS FOR CERTAIN MAJOR ARTERIAL STREETS) AND
4 AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE AMENDMENT NO. 4
5
Section 3.
This
Resolution
shall
take
effect
6 immediately upon its adoption.
7 I HEREBY CERTIFY that the foregoing Resolution was duly
8 adopted by the Community Development Commission of the City of
9 San Bernardino at a Joint Regular
meeting thereof, held on
JO the
6th
day of
November
, 2000, by the following
11 vote, to wit:
12 Commission Members:
AYES
NAYS
ABSTAIN
ABSENT
13 ESTRADA
LIEN
14 McGINNIS
SCHNETZ
15 SUAREZ
ANDERSON
16 McCAMMACK
x
X-
~
~
~
~
~
approved this
~Ju
17
18
19
day of
20
21
22
23
24
The foregoing resolution
November , 2000.
(J. J
';;i:; //-L.e.e~
JU~it palles, Chairperson
co. n(ty Development Commission
of he City of San Bernardino
25 By:
26
27
28
legal content:
Agency
SBEO/0001/DOC/420S
10/20/00 dgw
, ,
CITY OF SAN BERNARDINO
CITY CLERK'S OFFICE
Interoffice Memorandum
DATE:
November 8,2000
TO:
Lisa Gomez
.FROM:
Linda Sutherland
RE:
Transmitting Docurnents for Signature
Attached are the following original documents:
Resolution CDC/2000-38 including Agreement
Resolution CDC/2000-39 including Agreement
Resolution CDC/2000-40 including Agreement
Please obtain signatures where indicated.
Please return to the City Clerk's Office as soon as possible to my attention. I
will forward to you a file copy when fully executed.
If you have any questions, please do not hesitate to contact me at ext. 3205. Thank you.
Rachel Clark
City Clerk
By: Linda Sutherland
I hereby acknowledge receipt of the above rnentioned documents.
Date:
r '
** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT **
RESOLUTION AGENDA ITEM TRACKING FORM
if
C 1J~~.L?t!?CJ- I/O
, A~
Absent ~
Meeting Date (Date Adopted): f /-h -0 (J
Vote; Ayes /- -;7 Nays
Change to motion to amend original documents;
Item # R30
if Abstain
Resolution #
Reso. # On Attachments; V'/
Contract term;
NulVVoid After:
Date Sent to Mayor; / / -e ~O tJ
.
Date of Clerk's Signature;
---
Date Returned from Mayor;
Reso. Log Updated:
/ / -t' ---0 E>
V-.
Date of Mayor's Signature; / / -f .-0 0
Seal Impressed;
Date Memo Sent to Department for Signature: II-f-oo See Attached: vDate Returned:
Date Letter Sent to Outside Party for Signature:
60 Day Reminder Letter Sent on 30th day:
90 Day Reminder Letter Sent on 45th day:
See Attached:
See Attached:
See Attached;
Date Returned;
Note on Resolution of Attachment stored separately: _
Direct City Clerk (circle I): PUBLISH, POST, RECORD W/COUNTY Date;
See Attached;
Yes ./ No By_
Yes NoL- By_
Yes No~ By_
Yes No V By_
Yes No ;' By_
Request for Council Action & Staff Report Attached:
Updated Prior Resolutions (Other Than Below):
Updated CITY Personnel Folders (6413, 6429, 6433, 10584, 10585, 12634):
Updated CDC Personnel Folders (5557);
Updated Traffic Folders (3985, 8234, 655, 92-389):
Copies Distribnted to:
City Attorney
Parks & Rec.
Code Compliance Dev. Services
Police Public Services Water
EDAL
Others;
Finance
MIS
-
BEFORE FILING. REVIEW FORM TO ENSURE ANY NOTATIONS MADE HERE ARE TRANSFERRED TO THE
YEARLY RESOLUTION CHRONOLOGICAL LOG FOR FUTURE REFERENCE (Contract Term. etc,)
ReadYtoFile;~ Date: 1/-I'I-tJt)
,