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HomeMy WebLinkAboutR8_ Redevelopment Agency REDEVELOPMENT AGENCY-REQUEST FOR COMMISSION/COUNCIL ACTION 'm: Glenda Saul, Executive Director Subject: PARKING DISTRICT, — SET PUBLIC HEARING Dept: Redevelopment Agency Date: February 10, 1988 Synopsis of Previous Commission/Council action: See Attached Recommended motion: (MAYOR AND COMMON COUNCIL) 0 A. Move to set a Joint Public Hearing at 11:00 a.m. , on May 7, 1988 for the purpose of transfering parking property in the parking district from Redevelopment Agency ownership to the City of San Bernaridno. (COMMUNITY DEVELOPMENT COMMISSION) B. Move to set a Joint Public Hearing at 11:00 a.m., on May 7, 1988 for the purpose of transfering parking property in the parking district from Redevelopment Agency ownership to the City of San Bernaridno. i Signature Contact erson: Glenda Saul p Phone: 383-5081 Supporting data attached: YES Ward: 1 FUNDING REQUIREMENTS: Amount: $ NONE Project: CCN No adverse Impact on City: Date: 2-15-88 icil Notes: 1020H/DK/rm 2-15-RR SEQUENCE OF ACTIONS low PARKING DISTRICT - 07-06-76 City Ordinance No. 3589 establishment of off-street public parking within City. 09-07-76 City Reso. No. 12529 agreement between RDA and City relating to payment of area tax funds for public parking facilities. 09-20-76 City Reso. No. 12547 preliminary determination to form a Parking District. 10-15-76 City Reso. No. 12565 declaration of intent to form a Parking District. 12-03-76 City Reso. No. 12613 declaration of necessity to form a Parking District, ordering formation thereof, and confirming assessments thereon. 12-22-76 City Ordinance No. 3610 permits lease of District lots from RDA to City. 02-22-77 City Reso. No. 12691 execution of parking facilities lease with RDA (RDA Reso. 3348) . 05-09-77 RDA Reso. No. 3349 authorization for issuance of $1 ,950,000 Parkway Facilities Lease Revenue Bond. City Reso. No. 12760 authorization of an addendum to Parking Facilities Lease between City and RDA (RDA Reso. 3374) . 06-20-77 City Reso. No. 12852 Lease of San Bernardino Masonic Building Assoc. (Lot A) . �,9-11-78 City Reso. No. 3759 provision for disposition of ro er p p ty or replacement from bond proceeds or through lease. 10-02-78 City Reso. No. 13453 declaration of City's intent to make changes in the parking facilities in the Central City Parking District. 10-05-78 City Reso. No. 13454 determination to hold Joint Public Hearing with RDA for the substitution of parking facilities (RDA Reso.3744) . 11-06-78 City Reso. No. 13483 declaration of necessity to make change in the -parking facilities (RDA Reso. 3750). 11-06-78 City Reso. No. 13484 authorization of Contract of Sale or Replacement with RDA (Lot No. 11) (Police Dept. ) (RDA Reso. 3751 ) . City Reso. No. 13485 authorization of Contract of Sale or Replacement with RDA (Not No. 1) (Bus Stop) (RDA Reso. No. 3752) . City Reso. No. 13486 determination that certain parking facilities would benefit certain redevelopment project areas and that the means of financing are the only reasonable means. (RDA Reso. No. 3753)- 11-08-78 City Reso. No. 13515 authorization of agreement with Vanir/Miller regarding C) Parking Facilities (Old Penney's Bldg.) (RDA Reso. No. 3774). 1-14-78 City Reso. No. 13516 approval of sale of a parcel of real property within Central City North Project Area (Police Parking) (Health and Safety Code Section 33433) • ` 11-14-78 City Reso. No. 13517 approval of sale of a parcel of real property within Central City North Project Area (Bus Stop) (Health and Safety Code Section 33433)- 02-26-79 City Ordinance No. 3799 amendment to Ordinance 1991 providing for parking space requirements in Parking District. 04-03-79 City Reso. No. 79-130 preliminary determination to make changes in Parking District. City Reso. No. 79-131 declaration of intent to add parking places to Central City Parking District. 04-17-79 City Reso. No. 79-169 amendment to Reso. No. 79-131 referring proposed improvement to Director of Public Works/City Engineer. 06-18-79 RDA Reso. No. 3935 purchase of Parcel 134-151-24 (Swing) included in Parking District Expansion. 07-23-79 RDA Reso. No. 3950 authorization to receive offer to purchase from Stockwell 6 Binney (135-101-29) . 08-06-79 RDA Reso. No. 3958 purchase of Parcel 134-141-23 ("E" St. Bldg.) Included in Parking District expansion. RDA Reso. No. 3959 purchase of Parcel 134-141-31 (Cooper) included in Parking District expansion. RDA Reso. No. 3960 purchase of Parcel 134-151-13 (Stockwell E Binney) included in Parking District expansion. 08-20-79 RDA Reso. No. 3963 DDA with Stockwell & Binney (135-101-29) . RDA Reso. No. 3965 purchase of Parcel 134-141-08 (Gregory) included in Parking District expansion. 08-21-79 City Reso. No. 79-339 approval of sale of one parcel of property within Central City North Project Area to Stockwell E Binney (135-101-29). 09-17-79 RDA Reso. No. 3990 authorization for demolition of Agency owned buildings located at 451-461 N. "E" St. (134-141-23 E 134-141-30 . 10-15-79 RDA Reso. No. 4001 authorization for demolition of Agency owned buildings located at 465 5th St. (134-141-08) . 02-06-80 RDA Reso. No. 4033 authorization for initiation of proceedings and preparation of documents for exchange of land within Central City North Redevelopment Project Area for Social Security Administration development. 04-07-80 RDA Reso. No. 4049 Setting of Joing Public Hearing with Mayor and Council for exchange of land for development of Social Security Administration. (Parcels 134-131-06 6 15 for 140-291-10 a 11 ). City Reso. No. 80-138 declaration of intent to remove parking places from Central City Parking District (RDA Reso. No. 4050) . -2- 05-05-80 RDA Reso. No. 4062 authorization of exchange of RDA Parcels 134-131-06 ( E 15, Central City North Project Area, for Parcels 141-291-10 b 11 , Central City North Expansion Area for development of Social Security. RDA Reso. No. 4072 authorization of Lease Agreement with Vanir Research Co. for 85 parking spaces at Southwest corner of the 4th level of 5-level parking structure. 01-05-81 RDA Reso. No. 4117 authorization to enter into Contract with Warren Duncan for demolition of Agency owned buildings within Central City Parking District. 10-27-82 CDC Reso. No. 4400 commitment to establish entrance and exit from the 5-level parking structure onto "E" St. 11-15-82 CDC Reso. No. 4410 2nd Amendment to Lease Agreement with City to authorize City to permit parking by persons and businesses outside the commercial , business, and cultural areas in the 5-level parking structure. it -3- S T A F F R E P O R T BACKGROUND Bonds were used to finance the acquisition of the parcels for the original Parking District. These bonds require that any reduction of spaces within the District must be replaced. In 1979, the Parking District was expanded for the relocation of the Police Department facility, to enlarge a bus stop and to allow for building the Social Security Building in the Parking District. This occasioned a need for 101 substitute spaces. At the same time, the City Council increased the size of the district to accommodate future parking needs. The City paid for the substitute parking and the majority of the expansion by transferring funds to the Agency for acquisition and construction purposes. Other spaces were created when the existing lots were restriped. This activity resulted in the following: Lot Original Net Change Total 1 331 spaces - 17 = 314 2 209 spaces + 64 = 273 3 88 spaces + 96 = 184 628 spaces + 143 771 In addition to these 771 spaces, the Agency used its own funds to purchase the parcel at 4th and "E" Streets (58 spaces currently leased by Diversified Education) .This parcel was acquired by the Agency for $166,000 with the Agency executing a note in the amount of $113,000. The Note has been paid in full entirely from Tax Increment funds. In an effort to repay the Agency the monies used, the Agency receives lease payments from the rental of these 58 parking spaces. Thirteen of the 143 spaces were created by restriping the original lots, thus 130 spaces were the result of the expansion. Staff recommends that these 130 parking spaces be quit claimed to the City. These 130 spaces represent the expansion to the District paid for by the City. The 101 substitute spaces would remain as part of the Parking District and the Agency would retain the lot at 4th and "E" Street leased to Diversified Education. In summary: Expansion: 289 spaces Less substitute parking 101 spaces Less 4th and "E" parcel 58 spaces Transfer to City 130 spaces Attached is a breakdown of the replacement and expansion activities as well as summaries of the cost and income information involved in the parking lots. 1020H/DK/rm 2-15-88 J 3nN3nv IL O W ® ® W ©� � ® ♦- � ¢ = Q ® aWC © ® s O H O 2 N ® ; N • fO 0 ® 0 0 _ Q ® � ® : i'•'•'••«••••••� 133VIS ui O O p 'IO 04 cc i z s0 © p © 4 it © O N ® • x ® ~ �� ©® ®® � • F O Q o i, � O O © O _ — A 2 133li13 r•? G..� 0 00 0 • o © O OD O ' O - O _�"" «•••• 13 3!d 19 GAS M • 4 ® ® 3 Q a O 4 Qm x a w Z F-4 2 1A w ® ~ Q LL a •«•�133H1g..«........tifl�..« a REVIEW OF REPLACEMENT ACTIVITY When original parcels 134-131-06,15 were sold to the Shanes to allow for - -- the construction of the Social Security Bulding, two parcels 140-291-10,11 outside of the Parking District were provided to the RDA by the Shanes as payment. These parcels were sold by the RDA on February 12, 1982 for $120,000.00. This money was never directly returned to the City, but instead was eventually accounted for by acquiring replacement parcel 134-141-04 (Barber College Property) as prescribed in City Resolution 80-137. Parcel 134-131-16 (National Dollar Store) was acquired in 1980 and is accounted for as replacement for the parcels taken by the construction of the Social Security Building. A contemplated sale of a portion parcel 135-111-15 to Lonergans was never executed. The replacement of the 60 spaces taken by the City for the Police Department are accounted for by the acquisition of parcels 134-141-31 ,23. OWN i i LOT NO. 1 Original parcels (1976) 134-121-15 • 134-121-16 134-121-17 134-131-01 134-131-15 134-131-06 331 spaces 134-131-02 Loss of 39 spaces 134-131-15 a Social Security and Bus Stop 134-131-06 Gain of 22 spaces 134-131-16 Dollar Store property Net change -17 spaces Present capacity 314 spaces LOT N0. 2 Original parcels (1976) 134-141-18 134-141-19 134-151-26 134-151-27 134-141-24 134-151-19 209 spaces 134-151-20 Loss of 60 spaces Police por 134-151-26 por 134-151-27 Gain of 45 spaces (1979) 134-141-23 134-141-31 Gain of 24 spaces (1980) 134-141-08 Gain of 42 spaces (1979) 134-141-04 Gain of 13 spaces due to restriping Gain of +58 spaces 134-151-24 (Finch & Whittaker Lot) 134-151-14 134-151-13 Net Change (with +122 spaces Finch & Whittaker Lot) Present Capacity (with Finch & 331 spaces Whittaker Lot) 0 LO Original parcels (1976) 135-111-14 88 spaces 134-111-15 Gain of 98 spaces 135-101-01 135-101-09 135-101-18 Loss of 2 spaces (driveway) Net change 96 spaces Present capacity 184 spaces REDEVELOPMENT AGENCY BALANCE SHEET ORIGINAL PARKING LOTS AS OF JANUARY 1 , 1988 EXPENSES LAND ACQUISITION COSTS PARCEL NO. LOT NO. GRANTOR YEAR COST 134-121-15,16 1 M & R 74 $70,875.00 134-121-17 134-131-01 .15 1 Bank of California 74 550,000.00 134-131-06 1 Eadie 74 40,000.00 134-131-02 1 Sutro-Crawford 75 115,000.00 134-141-18 2 Ryden 74 60,000.00 134-141-19 134-151-26,27 2 Tracy 74 150,000.00 134-141-24 134-151-23 2 Elks 75 249,157.00 134-151-19 2 Gower 75 55,000.00 134-151-20 2 Stockwell-Binney 75 7,000.00 135-111-10,14,15 3 Swing 74 $182,300.00 TOTAL COST OF LAND ACQUISITION $1 ,479,332.00 -1- 3436G REDEVELOPMENT AGENCY BALANCE SHEET ORIGINAL PARKING LOTS AS OF JANUARY 1 , 1988 OTHER EXPENSES Note Exp. (Int) $267,481 .00 Loan Exp. (Int) 18 799.00 Legal 3,566.00 Insurance 919.00 Marketing 234.00 R.E. Acquisition 16 374.00 R.E. Dis 3,740.00 Rental Expense 4,120.00 Oper Acq Prop 5,679.00 Relocation 16,351 .00 Demo 51100.00 Site Improvement 355,886.00 Prof & Cont Sery 559.00 Survey & Planning 35 064.00 Administration Expense 152,780.00 TOTAL $733,872.00 TOTAL EXPENSES AND COST $2,213„204.00 -2- 3436G REDEVELOPMENT AGENCY BALANCE SHEET ORIGINAL PARKING LOTS AS OF JANUARY 1 , 1988 INCOME Bond Proceeds $1 ,228,034.00 Interest Earned 11 ,850.00 Rental Income 19,899.00 Transfer from Bank of America- Fiscal Agent $436,539.00 TOTAL INCOME $1 ,696,322.00 COST AND EXPENSES $2,213,204.00 INCOME -$1 ,696,322.00 DIFFERENCE OR COST TO AGENCY $516,882.00 -3- 3436G REDEVELOPMENT AGENCY BALANCE SHEET REPLACEMENT AND EXPANSION LOTS AS OF JANUARY 1 , 1988 ----- - -- - - EXPENSES LAND ACQUISITION COSTS PARCEL NO. LOT NO. GRANTOR YEAR COMMENTS COST 134-141-08 2 Gregory 9 Y 79 Expansion $80,000.00 134-141-05 2 Swing 75 Expansion 4.800.00 134-151-24 2 Swing(or) 74 (Leased to 165,000.00 Ralvert & Co. Finch & Whittaker) 135-101-01 ,09 3 Fullerton 74 Expansion 345 000.00 134-151-14 2 Fleming 80 (Leased to 55,000.00 Finch & Whittaker) ,�.. 134-151-13 2 Stockwell & 79 (Leased to 90,000.00 Binney Finch & Whittaker) 134-141-31 2 Cooper 79 (Replacement 85 213.00 for Police) 134-141-23 2 "E" Street 79 (Replacement 75 474.00 Building for Police) ' 134-131-16 1 National Dollar 80 (Replacement for 46,055.00 Store (Dominguez) Social Security Bldg.) 134-141-04 2 Barber College (Replacement for $250,000.00 Social Security Bldg.) TOTAL COST OF LAND ACQUISITION $1 ,196,542.00 -4- 3436G REDEVELOPMENT AGENCY BALANCE SHEET REPLACEMENT AND EXPANSION LOTS AS OF JANUARY 1 . 1988 OTHER EXPENSES Note Expense (Int) $120,336.00 Loan Expense (Int) 54,848.00 Legal 6,340.00 RE. Acquisition Costs 18,479.00 RE. Disposition 931 .00 Rental Expense 12,006.00 Oper. of Acq. Prop 4,937.00 Relocation 38,211 .00 Demolition 69,072.00 Site Improvement 45,721 .00 Prof. and Const. Suv 395.00 Administration 62,453.00 TOTAL OTHER EXPENSES $433,729.00 TOTAL COSTS AND EXPENSES $1 ,630,271 .00 -5- 3436G REDEVELOPMENT AGENCY BALANCE SHEET REPLACEMENT AND EXPANSION LOTS AS OF JANUARY 1 , 1988 INCOME Advanced to RDA by City for Expansion $652,074.00 Advanced to RDA by City for Replacement 160,688.00 Rental Income 11 ,026.00 Rental Income (Finch & Whittaker) 54,900.00 Sale of Land (135-101-29) 66,024.00 Stockwell & Binney Sale of Land (135-101-09) 30,810.00 Mills and Armour Sale of Land (140-291-10,11 ) Property received from Exchange of (134-131-15,6) $120,000.00 t�.. TOTAL INCOME $1 ,095,522.00 TOTAL COSTS AND EXPENSES $1 ,630,271 .00 TOTAL INCOME -$1 ,095,522.00 DIFFERENCE OR COST TO AGENCY $534,749.00 -6- 3436G r REDEVELOPMENT AGENCY BALANCE SHEET FOR PARKING DISTRICT LOTS IN CENTRAL CITY (Not Including 5 Level Structure) As of January 1 , 1988 EXPENSES Original Lots Land Acquisition $1 ,479,332.00 Original Lots Other Expenses 733 872.00 Replacement and Expansion Land Acquisition 1 ,196,542.00 Replacement and Expansion Other Acquisition 433,729.00 TOTAL EXPENSES AND COST $3,843,475.00 INCOME AND CONTRIBUTIONS Original Lots $1 ,696,322.00 Replacement & Expansion 1 ,095,522.00 TOTAL INCOME $2,791 ,844.00 COST TO AGENCY $1 ,051 ,631 .00 (Contribution) TOTAL INCOME $3,843,475.00 (and Contribution) -7- 3436G