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Home My WebLink AboutRS2-Economic Development Agency . . . (g(Q)[FJyr . ECONOMIC DEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO REQUEST FOR COMMISSION/COUNCIL ACTION FROM: RONALD E. WINKLER Development Director SUBJECT: PATTON PARK - SOCCER COMPLEX DATE: January 31,1997 --------~~--------------------------------------------------------------------------------------------------------------------------------- Synopd~ "(Previous Cnmmhlsion/Collnr.il/Cnmmittee Aetion(,~): See Attached. -------------------------------------------------------------------------------_.---------------------------.--------------------_.------ Rer.ommended Motion(s)" (Mayor and Common Council) MOTION A: RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, CALIFORNIA, AUTHORIZING THE FUNDING OF THE PATTON PARK SOCCER COMPLEX AND MAKING FINDINGS AND DETERMINATIONS AS TO THE BENEFIT TO THE VARIOUS REDEVELOPMENT PROJECT AREAS OF UNDERTAKING PUBLIC AND INFRASTRUCTURE IMPROVEMENTS IN CONNECTION WITH THE PATTON PARK SOCCER COMPLEX. (Community Development Commi.ssion.) MOTION B: RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, CALIFORNIA, AUTHORIZING THE FUNDING OF THE PATTON PARK SOCCER COMPLEX AND MAKING FINDINGS AND DETERMINATIONS AS TO THE BENEFIT TO THE VARIOUS REDEVELOPMENT PROJECT AREAS OF UNDERTAKING PUBLIC AND INFRASTRUCTURE IMPROVEMENTS IN CONNECTION WITH THE PATTON PARK SOCCER COMPLEX. (Motions continued on Next Page) ~ Administrator RONALD . WINKLER Development Director ------------------------------------------------------------------------------------------------------------------------------------------- Contact Person(s): Ronald E Winkler/JeffP Zinner Phone: 184-,081 Project Area(s): N/A Ward(s): Seven (7) Supporting Data Attached: Staff Report; Resolutions FUNDING REQUIREMENTS: Amount: $3,269,01600 Source: Park Fllnd~lRond Proceed~/ I.ine of Credit Budget Authority: N/ A ------------------------------------------------------------------------------------------------------------------------------------------ Cnmmi~!iiinn/Cnllnr:iI Notes: RS ~A - Res 97- ij~ r'.'- , JPZ:lmp:patton.cdc COMMISSION MEETING AGENDA MEETING DATE: 02/03/1997 Agenda Item Number: e5 - d- 02/P /17 . . e .Request for Commission/Council Action Patton Park - Soccer Complex January 31, 1997 Page 2 ---------------------------------------------------------------------------------------------------------------------- Synopsis of Previous Commission/Council/Committee Action (s): On July 22, 1996, the Community Development Commission approved the project in concept, pending acceptable gap financing and negotiations on the Joint Development Agreement. Staff was. instructed to bring the item back on August 5, 1996. On August 5, 1996, the Community Development Commission determined that the proposed financing plan was acceptable; (2) directed staff to contact prospective lenders regarding financing and bring back a report; and (3), determined that a competitive bidding process supervised by the Director of Public Works be used. On August 19, 1996, the Community Development Commission: (1) approved the joiot development agreement as amended to tie a commission to a performance schedule, recognizing and taking on face value statements that Empire AlG Recreation, LLC, has expended $45,000 worth of their own money; that their compensation be $135,000 in the original proposal, $45,000 to be paid upon signing of the lease, $45,000 being paid upon completion of the first full year of operation if 75 percent of their projections are achieved, an that final payment be made at the end of the second year offull operation, based on achievement of90 percent of their performance projections; that performance points be limited to rooms and attendance, and that Exhibit D to the lease be eliminated in its entirety; and further that the lease and related documents be approved and authorize their execution; and (2) authorize sta(f to proceed with financing as proposed. Recommended Motion(s) Continued: (Mayor and Common Council) (Community Development Commission) MOTION C: That the Mayor and Common Council and the Community Development Commission make certain determinations in accordance with Health and Safety Code 33445. ------------------------------------------------------------------------------------------------------------------ JPZ:lmp:patton.cdc COMMISSION MEETING AGENDA MEETING DATE: 02103/1997 Agenda Item Number: f'5';2.. . . ECONOMIC DEVELOPMENT AGENCY STAFF REPORT ~ ------------------------------------------------------------------------------------------------------------------ . . Patton Park - Soccer Field BACKGROUND: On August 19, 1996, a draft Joint Development Agreement among the City of San Bernardino, the,EDA and Empire Associated (the "JDA") was presented to the Council and the Commission for consideration. The JDA as presented contained a total construction budget, including the relocation of the community gardens as were located on the Patton property, of $2,708,300. The total dollar amount as specified in the IDA was $3,269,035.50 which also included contingencies, connection fees, real estate commission and design and engineering costs. The Project Budget did not include funds for the Arden Avenue widening. This action was approved and funded separately by the City Council on October 21,1996. Results of the bidding process will be reported by the City Public Works Department in a companion agenda item. FUNDING SOURCES: At the time that the IDA was approved by the Council and the Commission, EDA staff presented different financing alternatives which included the expenditure of existing tax-exempt bond proceeds, the issuance of additional tax-exempt bonds, the incurring of a mortgage financing utilizing the 201 North "E" Street Building as security and draws under the present Wells Fargo line of credit. EDA staff was directed to apply $1,000,000 of existing tax-exempt bond proceeds as available from the 1995 EDA refinancing and to use the Wells Fargo line of credit for the balance of the necessary funding. In addition, the city Recreation and Parks department will be applying $500,000 of park funds which are eligible for use on a project of this nature. The total project costs are outlined below based upon the bid as submitted by Empire: Base Soccer Field Construction Additives (CYSA basic requirements) $2,440,404.30 257,50000 TOTAL Contract $2,697,904.30 ------------------------------------------------------------------------------------------------------------------ JPZ:lmp:patton.cdc COMMISSION MEETING AGENDA MEETING DATE: 02/03/1997 Agenda Item Number: fs- :c . e e . Economic Development Agency Staff Report Patton Park Soccer Complex January 31, 1997 Page 2 -------------------------------------------------------------------------------------------------------------------------- Contingency Community Gardens (City Eng. Bid) Design Real Estate Commission Connection Fees Arden Street Improvements 98,435.20 88,000.00 115,000.00 144,696.00 125,000.00 172,500.00 TOTAL Project $3,441,535.50 FUNDING SOURCES City Park Fees Allocated EDA Bond Proceeds Additional Wells Fargo Line of Credit City Street Improvement Funds $ 500,000.00 1,000,000.00 1,769,035.50 172,5illlJl.Q TOTAL Funding $3,441,535.50 Attached is the necessary benefit resolutions as required by Health & Safety Code Section 33445 with regard to the EDA payment of the costs of construction and improvement of the Patton Park Soccer Complex pursuant to the JDA. The total dollar amount expected to be used under the benefit resolution is estimated at $2,900,000 including previously allocated bond proceeds, and a draw on our line of credit with interest charge. It should be noted that the credit draw will be recurred and debt serviced with bond proceeds. Based on the foregoing, staff recommends adoption of the attached resolutions. q~~ Development Director ------------------------------------------------------------------------------------------------------------------ JPZ:lmp:patton.cdc COMMISSION MEETING AGENDA MEETING DATE: 02/03/1997 {c. "L Agenda Item Number: 7