HomeMy WebLinkAboutR32-Economic Development AgencyECONOMIC DEVELOPMENT AGENCY
OF THE CITY OF SAN BERNARDINO
FROM: Maggie Pacheco SUBJECT: PROPOSED HUD SECTION 108 LOAN
Deputy Drector O R i G 1 N A LGUARANTEE APPLICATION
DATE: Mazch 23, 2004
Svnoasis of Previous Commission/CounciUCommittee Action(sl:
On Mazch 4, 2004, Redevelopment Committee Members Estrada and McGimiis voted to recommend that the Mayor and
Common Council consider this action for approval (see further actions taken by Mayor and Common Council noted
under Backgound of this Staff Report).
Recommended Motion(sl: -----_------ -- - ----_----
(Mavor and Common Councip
MOTION: THAT THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO DIltECT
STAFF TO PREPARE A REVISED SECTION 108 LOAN GUARANTEE APPLICATION
("APPLICATION") TO FACII.ITATE TWO REDEVELOPMENT AGENCY PROJECTS
REFERRED TO AS (A) MERCADO SANTA FE (SUBAREA B, OF UPTOWN REDEVELOPMENT
PROJECT AREA) AND (B) ARDEN-GUTHRIE RETAIL/ENTERTAINMENT SHOPPING
CENTER (IVDA REDEVELOPMENT PROJECT AREA) AND TO TRANSMIT SAID
APPLICATION FOR MAYOR AND COMMON COUNCIL CONSIDERATION ON APRIL 19,
2004. ________
Contact Person(s): Maggie Pacheco Phone: (909) 663-1044
Uptown Project Area and /
Project Area(s) IVDA Project Area Wazd(s): ~& 7
Supporting Data Attached: D Staff Report ^ Resolution(s) ^ Ageement(s)/Contract(s) D Map(s) Q Letters
$500,000 to be budgeted annually from
FUNDING REQUIREMENTS Amount: $ 500,000 Source: City's Annual CDBG Allocation
Budget Authority: 2005/06 EDA Budget Yeaz
SIGNATURE: `-~~ ~~~
Gary Van Osdel, Executive Director Maggie Pacheco, Deputy Director
Commission/Council Notes
P:UgeMea~Comm Dev COmmunbnlCDC 2004~A4-04-OS Seabn 108 Lunn RaommeMstu~u.dac COMMISSION MEETDVG AGENDA
Meeting Date: 04/05/2004
Agenda Item Number: I--1.~-1-0`!
ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
Proposed HUD Section 108 Loan Guarantee Auplication
BACKGROUND:
On March 20, 2003, the Redevelopment Committee discussed the idea of pledging annual CDBG
funds to service a new $10 million debt service payment on a Section 108 Loan from the U.S.
Department of Housing and Urban Development (HUD) and subsequently forwarded an approval
recommendation to the Mayor and Common Council.
On Apri121, 2003, the Mayor and Common Council adopted a Resolution authorizing the preparation
and submittal of a $10 million Section 108 Loan Application to HUD and agreed to hold a workshop
to discuss and clarify the use of the 108 funds.
On May 13, 2003, the Mayor and Common Council held a workshop and discussed the variety of
uses for the Section 108 Loan funds and fiuther identified the areas in which the proposed Section
108 Loan funds would be used, and directed Staff to submit a final application to the Mayor and
Common Council. At this workshop, there was a consensus amongst the members that if the Agency
was successful in obtaining the $10 million loan that it would be utilized in one or more of the eight
(8) target neighborhoods. These areas aze: A) Old Towne, B) Meadowbrook, C) Secombe Lake, D)
North Lake, E) Arden-Guthrie Soccer Complex, F) Uptown, G) Westside, and H) 40s' Street Project
Area. Please refer to Exhibit "A" in the June 2, 2003 Staff Report (Attachment 1) depicting all eight
areas.
On June 2, 2003, the Mayor and Common Council ratified and approved a proposed Section 108
Loan Application entitled the "Focused Neighborhood Revitalization Program" and authorized and
approved Staff to submit the fmal application to HUD. Please refer to the attached June 2, 2003 Staff
Report with corresponding Exhibits (Attachment 1).
CURRENT ISSUE:
Since June 2003, Staff has had numerous discussions with HUD Representatives regarding the
Agency's application. As a follow up to these discussions, most recently, in February 2004, Staff
received two letters from HUD expressing the issues that concerned them and proposed solutions to
some of their concerns.
Specifically, HUD's letter dated February 18, 2004 (see Attachment 2), wherein, they have opined
that in order for the Washington Office to recommend approval of the Agency's/City's Section 108
Loan Application, certain changes to the application need to occur; in particular, HUD discouraged a
shotgun approach and highly recommended that the Agency: (1) Narrow its focus of the Section 108
Loan Application to one or two Target Areas, and (2) Identify the Projects in sufficient detail for each
Target Area. Most importantly, HUD is requesting specificity such as how will the funds be used,
what type of project will be accomplished, i.e., housing, retail, commercial, etc., how many jobs will
P:Wgendea\Comm Dev Commissnn\COC 3004W4-114~OS Sepion 108 LOen Recommendetbns.doc COMMISSION MEETING AGENDA
Meeting Date: 04/Q05/~20~0g4~
Agenda Item Number: ' ` /!~
Economic Development Agency Staff Report
Proposed HUD Section 108 Loan Guarantee Application
Page 2
be created, what blighted conditions will be eradicated, etc., and what is the end result of said use of
Section 108 Loan funds. HUD prefers for cities to use their Section 108 Loan Application funds for
specific and tangible projects such as when the Agency used the Section 108 Loan program for the
Cinema Star and the Renovation of the 303 3`~ Street Projects (presently the two outstanding Section
108 loans of about $8 million). This way HUD is able to quantify the impacts of the project and
measure the results in comparison to the national objectives under the HUD guidelines.
Consequently, on Mazch 20, 2004, Staff discussed this subject with the Redevelopment Committee
and after considering all of the previously approved 2003 Tazget Areas, and examining other projects
in the pipeline, the Committee recommended forwazding a recommendation to the Mayor and
Common Council that a revised Section 108 Loan Application be resubmitted to HUD for two
specific projects that aze currently in the conceptual stages. These projects are:
RetaiUEntertainment Shopping Center -North Arden-Guthrie Area -See Attachment 3
(Tartlet Area E -Arden-Guthrie Soccer Complexl (IVDA Redevelopment Protect Area)
In October 2003, the Community Development Commission and Mayor and Common Council
authorized entering into Redevelopment Cooperation Agreement with IVDA relating to the initiation
of studies and delegation of redevelopment authority to the Agency for purposes of exploring the
development of the azea between 20~' and Highland, Arden and Guthrie. As a result of said
Agreement, and a pending development proposal from Sonnenblick Del-Rio, the Community
Development Commission authorized Staff to send out owner participation notices to all existing
owners in the azea requesting that they submit competing proposals. No such competing proposals
were received. Sonnenblick Del-Rio has a wealth of experience in developing an array of uses such
as: municipal facilities, entertainment and shopping centers, hotels, to regional malls. Conceptually
speaking, Sonnenblick Del-Rio ("Developer") proposes development of approximately 15 acres
consisting of 122,000 to 186,000 square feet of retail, restaurants, and entertainment uses. Currently,
Staff and legal counsel are working on an Exclusive Right to Negotiate Agreement with the
Developer and anticipate that the matter will be brought before the Commission within 30 days.
Mercado Santa Fe (Subarea B, of Uptown Redevelopment Protect Areal -See Attachment 4
To complement the rehabilitation of the historic Santa Fe Depot, in 2001, the Agency entered into a
Redevelopment Planning and Participation Agreement for the Santa Fe Depot Implementation Area,
to explore the development of a new shopping center at the entrance to the Santa Fe Depot, consisting
of more than 20 acres, and located between I-215, Mount Vernon Avenue, 3'a Street and Rialto
Avenue, commonly referred to as Mercado Santa Fe. The plan currently underway provides for this
acreage to be rezoned from Light Industrial to Commercial General in order to allow a variety of
commercial retail uses (retail, personal service, entertainment, and office uses). It is contemplated
that the first phase of the proposed development will consist of about 9.2 acres, containing
approximately 333,000 squaze feet of commercial uses, anchored by a major Grocery Store and other
ancillary retaiUcommercial uses.
P:UgeMu~Comm Dev Comminion~CDC 2000~A4-01-05 Sxlion 108 LO~n RaommeMeliom.doc COMMISSION MEETING AGENDA
Meeting Date: 04/05/2004
Agenda Item Number: '~
Economic Development Agency Staff Report
Proposed HUD Section 108 Loan Guarantee Application
Page 3
The Agency is also in the process of updating the Redevelopment Plan for the Project Area to
reinstate the power of Eminent Domain.
Should the Mayor and Common Council approve the Redevelopment Committee's recommendation,
Staff will return on April 19, 2004, at a public hearing, with the complete revised Section 108 Loan
Guarantee Application along with the 2004/OS Annual Consolidated Plan for CDBG, ESG and
HOME funds.
ENVIRONMENTAL IMPACT:
No environmental review is required for submission of a Section 108 Loan Guazantee Application.
FISCAL IMPACT:
If the revised $10 million Section 108 Loan Guazantee Application is approved by HUD, the sum of
$500,000 annually will need to be set aside from the City's annual CDBG Program over a period of
20 yeazs. In addition, the Agency will need to pledge collateral for the loan.
RECOMMENDATION:
That the Mayor and Common Council approve the above Motion.
,~~
Maggie Pacheco, Deputy Director
--
P:NgeMne~Comm Dev COmetiesbnlCDC 2W9b4~01-0S Sa~mn 108 LOev RaammeMLLmre.doc COMMISSION MEETING AGENDA
Meetlag Date: 04/0Q5/2004
Ageuda Item Number: "~"
ATTACffi1~NT i
ECO~ JMIC DEVELOPMENT A .'ENCY
OF THE CTTY OF SAN BERNARDINO
-FROM: Maggie Pacheco SUBJECT: PUBLIC HEARING TO CONSIDER THE
Deputy Director APPLICATION FOR A SECTION 108
LOAN GUARANTEE -FOCUSED
DATE: May 23, 2003 NEIGHORHOOD REVITALIZATION
PROGRAM
Swoosis of Prev~us Cammissioo/ConneiVCommittee Action(sl:
On March 20, 2003, the Redevelopment Committee discussed the idea of pledging amual CDBG funds to service a $10
million debt service payment on a Section 108 Loan from the U. S. Department of Housing and Urban Development
(HUD) and subsequently forwarded an approval recommendation to the Mayor and Common Council
On April 21, 2003, the Mayor and Common adopted a Resolution authorizirrg the preparation and submittal of a Section
108 Loan to HUD and agreed to hold a workshop to discuss the use of the funds.
On May 13, 2003, the Mayor and Common Council conducted a workshop and discussed the possible uses and location
for the Section 108 and directed staff to submit dte fmal application to the Mayor and Common Council on June 2, 2003.
HEARING
(MAYOR AND COMMON COUNCH.1
MOTION A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO APPROVING THB PROPOSED SECTION 108 LOAN GUARANTEE APPLICATION
FOR THE FOCUSED NEIGHBORHOOD REVITALIZATION PROGRAM AND AUTHORJZINNG AND
APPROVING.TIIE SUBMITTAL OF THE FINAL APPLICATION TO THE U.S. DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT (HUD) AND FOR PUBLIC DISTRIBUTION
Contact Person(s): Maggie Pacheco Phone: (909) 663-1044
Central City North, U~town,
Project Area(s) Northwest, IVDA, 40 Street Ward(s): All
Supporting Data Attached: Q StaffReport Q Resolution(s) ^ Agreement(syContract(s) ~ Map(s) ^ Letters
FUNDING REQUDLEMENTS Amount: $ 10 million Source: CDBG -Annual Pledge of $500,000
Budget Authority: EDA Budget 2003/2004
SIGNATURE: / ~~~' ~~dlid~
l~tn Gary Van O del, Executive Director Maggie Pacheco, Deputy Director
Commission/Council Notes:
P.'NDBO pepULgkIUnG DOdOI.06.02Sec1ion 106 r.u.n PHCDC4m Va 04.dac COMMISSION MEETING AGENDA
Meeting Date: 06/02/2003
Agenda Item Number ~~ 3
ECOI JMIC DEVELOPMENT E }ENCY
STAFF REPORT
BACKGROUND/CURRENT ISSUE:
Over the past several years, the Mayor and Common Council have directed Agency Staff to carry out
certain priorities, programs or projects within certain areas of the City, and every yeaz it has become
increasingly challenging to accomplish said priorities without adequate financial resources. A case in
point is the recent undertaking of neighborhood revitalization efforts in the areas called Old Towne
(Central City North/Uptown Redevelopment Project Areas) and Meadowbmok (IVDA Project Area)
in an effort to act as a stimulus for future economic growth and commence the rebuilding of San
Bernardino's neighborhood core surrounding the downtown. The needs of these two areas, along
with many others that the Council has identified are overwhelming. These type of areas lack
adequate infrastructure and the housing or commercial uses are dilapidated and distressed acting as a
deterrent for economic and redevelopment growth. For reasons noted herein, in the past Staff has
brought forward a number of proposals for consideration by the Mayor and Common Council that
detail ways to generate resources to implement capital for major revitalization projects.
At the public hearing of April 21, 2003, the Mayor and Common Council commenced the discussion
and authorized applying fora $10 million Section 108 Loan Guarantee from HUD and on May 13,
2003, the Mayor and Common Council conducted a workshop on the use of the S10 million Section
108 Loan and the locations where the funds could potentially be used. The Mayor and Common
Council agreed to allocate the sum of $500,000 yeazly from the City's annual CDBG Program
(2003/2004 $4,368,000, or approximately 11%) to amortize the $10 million Section 108. Loan over a
20-year term; at a rate currently ranging from approximately 2% to 4%, and with a balloon payment
due in yeaz 2023. The cost of applying for such a loan would be a short-term commitment of EDA
human resources for the preparation of the loan application, etc., and minor legal expenses for the
preparation and review of .loan documents and legal opinions. There aze no up-front points or loan
origination fees involved. Moreover, at the workshop there was a consensus amongst the members
that the $10 million would be utilized in one or more of the eight (8) following tazget neighborhoods
(Exhibit "A'~:
Area A: Old Towne -located between "E" St. to I215, 6m to 9's St.
Area B: Meadowbtook -located between Sierra Way & Waterman Ave., Rialto Ave. & 3`~ St.
Area C: Secembe Lake -located between Sm & 3`~ St., Sierra Way & Waterman Ave.
Area D: North Lake - located betwcen "E" St. to I215, 9a' St. to Baseline.
Area E: Arden-Guthrie Soccer Complex -located between Sterling to Victoria Ave., Highland
Ave. to Pacific St.
Area F: Uptown -Highland Ave. to Baseline, and Waterman Ave. to "H" St.
Area G: Westside -located between Highland Ave. to Baseline, Mt. Vemon to west of Macy St. to
the City boundary.
Area H: 40's Street Project Area -located between Waterman & Mt. View Ave., 44's St. to Ralston
Ave.
P,,msoo~n„eowm-0smsw;~iw~rxmcn~vaeeeeo~ COMMISSION MEETING AGENDA
Meeting Date: 06/02/2003
Agenda Item Number:
1
Economic Development Ag..~ fy Staff Report
Section 108 Loan Guarantee
Page 2
It is proposed that the $10 million loan proceeds be used for the following eligible activities: land
acquisition and/or disposition, relocation assistance, construction/installation of public improvements
and demolition or clearance of blighted strictures and conditions within any of the target areas noted
above. Please refer to Exhibit `B" winch will be used as an attachment to the Section 108 Loan
application.
.ENVIRONMENTAL IMPACT:
All National Environmental Policy Act (NEPA) actions will be addressed prior to release of funds for
the projects/programs to be funded by the proposed Section 108 Loan.
FISCAL IIbiPACT:
The Section 108 Loan application will result in a $10 million loan that must be paid over 20 years, at
the annual CDBG payment of $500,000. The loan will have an interest rate between 2% to 4% and a
balloon payment of approximately $6.3 million in year 20. The security for the loan will be the
annual CDBG funds of $500,000 plus any assets purchased with the Section 108 loan proceeds. The
City, as the entitlement CDBG entity, and the Agency will be the guarantor on the loan.
RECOMMENDATION:
That the Mayor and Common Council adopt the attached Resolution.
~.vG~
Maggie acheco, Deputy Director
rwneaa~,nu.~.soon°3abmserm.~oeto..eamcemv<-smo COMMISSION MEETINGAGF~IDA
Meeting Date: 06/02/2003
Agenda Item Number:
EA'ffiBTT "A"
City of San Bernardino
EXIIIBIT "B"
SUBJECT: SECTION 108 LOAN APPLICATON FOR THE CITY OF SAN
BERNARDINO'S "FOCUSED NEIGHBORHOOD REVITALIZATION
PROGRAM (THE "PROJECT")
i. Public Review Process:
The rules and regulations published by HUD provide that there be a public process prior to filing
a final application for HUD 108 guarantee assistance. This public review has been facilitated in
the following ways" First the proposed action to submit an application has been advertised as
described above and, the HUD Section 108 Loan guarantee was reviewed. and discussed with the
Community Development Citizen Advisory Committee on February 19, 2003, and a Mayor and
Common Council public hearing held on Apri121, 2003, a Mayor and Common Council public
workshop, held on May 13, 2003, and another public hearing was held on June 2, 2003 by dre
Mayor and Common Council. Generally, there was a consensus from those present that the City
of San Bernazdino should proceed to file a final application for the Section 108 Prograrrr in the
amount of $10 million for the proposed Project noted prior to June 30, 2003.
2. Authorization Procedure:
After the. close of today's public hearing, the Mayor and Common council should consider any
comments and views received, and if appropriate, modify the proposed application. To file the
application, the City must certify that it possesses the legal authority to pledge its future CDBG
grant funds as required under secflon 570.705. (B)(2) Of Title 24. Standard certifications
regarding drug-free workplace, debarment and suspension of contractors, and ananti-lobbying
statement are also requirements of the application submittal. The City must certify that it
possesses the legal authority to submit the application and to use the funds. It must take action to
authorize an official representative of the City to submit the application and amendments thereto.
All of these matters are addressed in the Resolution attached to the Staff Report.
3. Proiect Name and Location:
The City of San Bernardino "Focused Neighborhood Revitalization Program" will be undertaken
in the following areas:
Area A: Old Towue -located between "E" Street to I215, fia' to 9's Streets.
Area B: Meadowbrook -located between Sierra Way &Waterman Avenue, Rialto and
3rd Street.
Area C: Secombe Lake -located between 6`~ & 4a' Streets, Waterman Avenue to
Sierra Way.
Area D: North Lake -located between E Street to 1215, 9th Street to Baseline Rd.
Area E: Arden-Guthrle Soccer Complex -located between Sterling to Victoria
Avenue, Highland Ave. to Pacific St.
0]~1$fL1109 ~~ {.YLI E.Vl~ll B.dOt
Area G: Westside -located between Highland Avenue to Baseline, Mt. Vemon to
West of Macy Street to the City boundary.
Area H: 40`" St. Redevelopment Project Area -located between Waterman & Mt.
View Avenues, and 44a' St. to Ralston Avenue.
Areas A through H are all located within the City of San Bernazdino's boundaries.
4. Proiect Description:
The activities proposed to be undertaken in Tazget Area A through H include land acquisition,
site assemblage, disposition, relocation of any residential or businesses, demolition or clearance
of blighted and dilapidated structures, and the constnuction or provision of public improvements
such as streets, curbs, gutters, sidewalks, sewers, storm drains, etc. ("Project'. The Project will
specifically address the removal of blighted structures, the provision of decent and safe housing,
new or up-graded infiastructure, acquisition of underutilized and blighted properties which will
be used for development of either new housing or commerciaUretail development. It is expected
that the Project will act as a stimulus, create synergism and promote new development resulting
in employment and homeowner opportunitities for City residents and private reinvestment.
Accordingly, the Section 108 Loan funds will. be used for eligible activities noted in 24 CFR
subpart M, 570.703 of HUD Regulations:
a. Acquisition of improved or unimproved real property, including acquisition for
economic development purposes;
b. Relocation Assistance to displaced businesses, families, individuals, or others
who must relocate permanently or temporarily as a result of an activity financed
with the Section 108 Loan funds;
c. Clearance, demolition and removal;
d. Site preparation, including construction, reconstruction or installation of public
and other site improvements.
S. Loan Request Amount:
The City of San Bernardino is requesting Section 108 financing in the amount of $10 million for
a term of 20 years. These funds will be used to fund the various activities noted under Project
Description and within the Locations noted in 3 above. The City will repay said loan amount by
pledging its annual Community Development Block Grant (CDBG) allocation and in accordance
with the attached amortization schedule.
6. Elieible Activity and National Obiectives:
The proposed Project meets two of the. Community Development Block Grant (CDBG) national
objectives as stipulated in the CDBG regulations, 24 CFR 208. These activities aid in the
prevention or elimination of slums and blight; and benefit low- and moderate-income persons.
Many of the target areas are located within existing redevelopment project boundaries and by
State law the City has established by Ordinance that blight exist in the tazget areas. Much of the
tazget areas exhibit deteriorated buildings, deferred maintenance, old and obsolete structures and
public improvements, and show evidence of physical, economic and social blight. These
conditions hinder or impede progress for new development and act as an economic drain to the
w-0sox swa. is ~ E.wb. e.a«
City. Undertaking the activities under the. Project Description will help alleviate or remediate
these blighting influences leading to improved economic and physical wnditions.
7. Program Income:
The Project is not expected to produce a significant amount of Program Income. However; when
the City or Agency acquires real property and subsequently disposes of such property, it may
realize market value for the .property. Tn such case, any sales proceeds generated from the
disposition of property will become program income and will be allocated to the HUD 108
repayment debt.
8. Loau Securlri (Collateral):
Under Section 570.705 (B)(2) the City will repay the Section 108 financing yearly finm its
Community- Development Block Grant (CDBG) Program. Additionally, the City will pledge
redevelopment funds from the Redevelopment Agency of the City of San Bernardino who will
act as a guarantor in the Section 108 Loan Application. Moreover, if and when the City or the
Agency acquires property using the Section 108 Loan Proceeds it will utilize the real estate
assets as collateral for the Section 108 Loan.
w.osm sum. ioe t«. s~ eaa 3
ATTACffi1~NT 2
d ~s
' • w~
°~
~xA~
OFFICE OF ASSISTANT SECRETARY
FOR COMMUNITY PIANNNJO AND DEVELOPMENT
J.S. Department of Housing and Urbar velopment
Washington, D.C. 20410-70U~ -:, „_,,, _ ,
Gazy Van Osdel
Executive Director
Economic Development Agency
City of San Bernardino
201 North E. St., Suite 301
San Bemazdino, CA 92401
Dear Mr. Van Osdel:
This letter is a follow-up to our conference call on February 17, 2004, during
which we discussed my previous letter to you relative to the City of San Bemazdino's
pending Section 108 application for $10,000,000, number B-03-MC-06-0539.- In .
addition, we discussed how the City could improve its application in order for my office
to recommend it for approval.
As indicated, pursuant to our regulations, mote specificity is needed for each
project for which the City intends to use the Section 108 funds. Narrowing [he focus of
the application to one or two target projects will increase th~a likelihood of HUD's
a approval as well as the success of the City in accomplishing its goals. If one or two
projects can be prepared in this manner, our advice- would be to submit them as one or
two distinct Section 108 applications now and submit additional, new applications in the
future as other projects aze defined.
I recommend that each project be described with detailed information. For each
project in a target area, the location and specific Section 108 amount should be stated, as
well as the eligible activities and national objective each project will achieve. My
previous letter described these components more fully.
When your office has identified one or two projects consistent with this approach,
I suggest we convene another conference call in order to assist in gitiding you in
preparing the additional information to be submitted. Should you have further questions,
please feel free to contact either Jane Hildt or myself at 202:708.1871.
S~ ere yo
Paul D. Webster
Director, Financial-Management Division
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