HomeMy WebLinkAboutMinutes - May 6, 2008 SSCITY OF LODI
INFORMAL INFORMATIONAL MEETING
"SHIRTSLEEVE" SESSION
CARNEGIE FORUM, 305 WEST PINE STREET
TUESDAY, MAY 6, 2008
An Informal Informational Meeting ("Shirtsleeve" Session) of the Lodi City Council was held Tuesday,
May 6, 2008, commencing at 7:01 a.m.
A. ROLL CALL
Present: Council Members — Hitchcock, Hansen, Johnson, Katzakian, and Mayor Mounce
Absent: Council Members — None
Also Present: City Manager King, City Attorney Schwabauer, and City Clerk Johl
B. TOPIC(S)
B-1 "Overview of the Mechanics of Tax Increment Allocation — Statement of Indebtedness"
City Manager King provided an overview of the mechanics of tax increment allocation and
statement of indebtedness. Specific topics of discussion included City's exposure for
indebtedness, soft debt versus hard debt, excerpts from Health and Safety Code Section
33675, the requirement to file a statement of indebtedness and reconciliation statement,
San Joaquin standard form for a statement of indebtedness, samples from Stockton, Tracy,
Manteca, and Ripon, examples of soft redevelopment debt, joint cooperation agreement,
some cities entering into bonds to further protect against State taking local government
money in lieu of incurring soft debt, statutory limits on bond debt, and general application of
how redevelopment may be applied in Lodi, including a series of smaller capital
improvement projects rather than a single large project.
In response to Mayor Mounce, Mr. King stated with respect to interest rates for bonds and
loans for cities, typically a secure bond will be more aggressive in order to secure the
lowest rate possible. He stated the major difference is subordination language where in
some cases debt may not be collected.
In response to Council Member Hitchcock, Mr. King confirmed that Stockton uses the
Community Development Block Grant (CDBG) allocation to show debt, but it will not
actually collect the debt. He stated he is unsure of why interest is not being charged, but it
is most likely that the debt itself will never be repaid.
In response to Mayor Mounce, Mr. King stated that, when and if Stockton pays interest on
the CDBG allocation which it will likely not ab, the interest will go to the ganeral fund
because the spending of CDBG money is work performed by the city on behalf of the
agency. He stated it will most likely not be paid because it is in the city's and agency's
best interest not to do so.
In response to Mayor Mounce, Deputy City Manager Jim Krueger stated he is unsure if
Stockton is carrying the interest as an account receivable on the balance sheet but that is
most likely.
In response to Mayor Mounce, Mr. King confirmed that Manteca has approximately
$321 million in soft debt, which will likely not be paid back.
In response to Mayor Mounce, City Attorney Schwabauer stated the Constitution
specifically prohibits the State from interfering with any contractual obligation of a city.
Mr. Schwabauer stated therefore the State would be prohibited from taking bond money as
hard debt due to contractual obligations with the bonding agencies. He stated the State
would also have a difficult argument with respect to soft debt incurred under a contractual
obligation between a city and agency.
Continued May 6, 2008
In response to Council Member Johnson, Mr. Schwabauer stated the County collects the
$1.1 million as tax increment, it is then obligated to pay the agency that $1.1 million, and
the agency then repays debt or more likely recycles that amount for the next year's usage.
In response to Council Member Hitchcock, Mr. King stated typically the amount for hard
debt that is allowed is no more than 80% of tax increment for that specific year with respect
to redevelopment bonds. He stated generally cities take much less than that in order to
keep flexibility for larger capital projects.
In response to Council Member Hitchcock, Mr. King and Mr. Schwabauer stated that there
is not an actual transference of CDBG funds into the general find. They stated that,
because the purposes of Department of Housing and Urban Development guidelines and
redevelopment coincide, CDBG funds may be credited for redevelopment debt because the
funds were expended in a manner that benefited the city and agency. They stated an
example of this may be sidewalk or light improvements in the project area.
In response to Mayor Mounce, Mr. King stated obtaining bonds for redevelopment is based
on the ability to collect tax increment and not the City's financial health. Mr. King provided
the Lodi Memorial Hospital bonds as an example.
In response to Council Member Johnson, Mr. King stated the school district incurring debt
through redevelopment pass-through with the City is neutral to the City because the funds
would be paid regardless over a 45 -year period instead of a single payment pursuant to AB
1290 pass-through requirements. Mr. King stated he does not believe the school district
scenario is a popular vehicle, but it is an example of bonded debt.
In response to Mayor Mounce, Mr. King stated once the redevelopment project area is
formed, the general process for the school district would remain the same in that the
money is collected by the County, then goes to the State, who in turn sends it to the
school district. Mr. King stated the school district and City would benefit because there
may be improvements to schools within the project area.
Discussion ensued between Council Member Hitchcock, Mr. King, and Mr. Schwabauer
regarding the 27% allocation for school district and AB 1290 legislation, which specifically
sets forth the percentage received by schools based on a formula and the method by which
it may be collected.
In response to Council Member Hitchcock, Mr. King stated 80% of the potential tax
increment for the year is a maximum amount for bonding purposes. He stated most cities
take much less than that in order to retain and allow for flexibility of projects. He stated a
variety of smaller projects are generally more bankable than a few large projects because
there is more reliability in diversifying the amount over several properties rather than
concentrating on one or two.
Mr. Schwabauer provided a brief overview of how property tax values will continue to affect
redevelopment and tax increment regardless of market fluctuations because as an example
the property tax continues to grow at the 2% per year rate.
In response to Council Member Hitchcock, Mr. King stated that, although staff has
crunched some numbers based on the usage of certain parcels, current zoning, market
conditions, and projected future increment, the numbers still remain hypothetical at best.
In response to Council Member Hitchcock, Mr. King stated he is not sure what the tax
increment would be for the $355 million amount over 45 years for the school district, but he
will provide that information when it is available.
W
Continued May 6, 2008
In response to Council Member Johnson, Mr. King stated that with a variety of projects the
question of whether to assume soft or hard debt would be based on how much increment is
available and what the project costs amount to.
In response to Mayor Mounce, Mr. King stated there is a possibility that a project could be
classified as both infrastructure and economic development for redevelopment purposes.
In response to Council Member Katzakian and Mayor Mounce, Mr. King stated that, for
private development purposes, a developer would need to layout what he or she needs and
the City would consider the availability of increment over a period of time and assess the
benefit associated with such development.
C. COMMENTS BY THE PUBLIC ON NON -AGENDA ITEMS
None.
D. ADJOURNMENT
No action was taken by the City Council. The meeting was adjourned at 8:13 a.m.
ATTEST:
RandiJohl
City Clerk
AGENDA ITEM B-01
is% CITY OF LODI
W COUNCIL COMMUNICATION
TM
AGENDA TITLE: Overview of the Mechanics of Tax Increment Allocation — Statement of
Indebtedness
MEETING DATE: May 6, 2008 (Shirtsleeve Session)
PREPARED BY: City Manager
RECOMMENDED ACTION: Receive report.
BACKGROUND INFORMATION: it has been requested that the Council receive a presentation with
regard to the requirements to receive annual tax increment funds.
At the Shirtsleeve Session, staff will review the requirements to
submit a "statement of Indebtedness." The Council will be introduced to the various types of obligations
allowed via the annual Statement cf Indebtedness.
FISCAL I M PACT N/A
FUNDING AVAILABLE: N/A
Blair King
City Manager
BKJjmp
APPROVED: zat:-�i:)
tVKing, City Manager
N!kAdministratioti\CLERMCouncil\COUNCOM\RedevelopmentTaxlncrement.DOC
HEALTH AND SAFETY CODE SECTION
33675
THE STATEMENT OF INDEBTEDNESS
CA Codes (hsc:33670-33679)
33675. (a) The portion of taxes required to be allocated pursuant
to subdivision (b) of Section 33670 shall be allocated and paid to
the agency by the county auditor or officer responsible for the
payment of taxes into the funds of the respective taxing agencies
pursuant to the procedure contained in this section.
(b) Not later than October 1 of each year, for each redevelopment
project for which the redevelopment plan provides for the division of
taxes pursuant to Section 33670, the agency shall file, with the
county auditor or officer described in subdivision (a), a statement
of indebtedness and a reconciliation statement certified by the chief
financial officer of the agency.
(c) (1) For each redevelopment project for which a statement of
indebtedness is required to be filed, the statement of indebtedness
shall contain all of the following:
(A) For each loan, advance, or indebtedness incurred or entered
into, all of the following information:
W The date the loan, advance, or indebtedness was incurred or
entered into.
(ii) The principal amount, term, purpose, interest rate, and total
interest of each loan, advance, or indebtedness.
(iii) The principal amount and interest due in the fiscal year in
which the statement of indebtedness is filed for each loan, advance,
or indebtedness.
(iv) The total amount of principal and interest remaining to be
paid for each loan, advance, or indebtedness.
(B) The sum of the amounts determined under clause (iii) of
subparagraph (A).
(C) The sum of the amounts determined under clause (iv) of
subparagraph (A).
M The available revenues as of the end of the previous year, as
determined pursuant to paragraph (10) of subdivision (d) -
(2) The agency may estimate the amount of principal or interest,
the interest rate, or term of any loan, advance, or indebtedness if
the nature of the loan, advance, or indebtedness is such that the
amount of principal or interest, the interest rate or term cannot be
precisely determined. The agency may list on a statement of
indebtedness any loan, advance, or indebtedness incurred or entered
into on or before the date the statement is filed.
(d) For each redevelopment project for which a reconciliation
statement is required to be filed, the reconciliation statement shall
contain all of the following:
(1) A list of all loans, advances, and indebtedness listed on the
previous year's statement of indebtedness.
(2) A list of all loans, advances, and indebtedness, not listed on
the previous year's statement of indebtedness, but incurred or
entered into in the previous year and paid in whole or in part from
revenue received by the agency pursuant to Section 33670. This
listing may aggregate loans, advances, and indebtedness incurred or
entered into in the previous year for a particular purpose (such as
relocation expenses, administrative expenses, consultant expenses, or
property management expenses) into a single item in the listing.
(3) For each loan, advance, or indebtedness described in paragraph
(1) or (2), all of the following information:
(A) The total amount of principal and interest remaining to be
paid as of the later of the beginning of the previous year or the
date the loan, advance, or indebtedness was incurred or entered into.
�B) Any increases or additions to the loan, advance, or
indebtedness occurring during the previous year.
(C) The amount paid on the loan, advance, or indebtedness in the
Page I of 3
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CA Codes (hsc,:33670-33679)
previous year f rom revenue received by the agency pursuant to Section
33670.
(D) The amount paid on the loan, advance, or indebtedness in the
previous year from revenue other than revenue received by the agency
pursuant to Section 33670.
(E) The total amount of principal and interest remaining to be
paid as of the end of the previous fiscal year.
(4) The available revenues of the agency as of the beginning of
the previous fiscal year.
(5) The amount of revenue received by the agency in the previous
fiscal year pursuant to Section 33670.
(6) The amount of available revenue received by the agency in the
previous fiscal year other than pursuant to Section 33670.
(7) The sum of the amounts specified in subparagraph (D) of
paragraph (3), to the extent that the amounts are not included as
available revenues pursuant to paragraph (6).
(8) The sum of the amounts specified in paragraphs (4), (5), (6),
and (7).
(9) The sum of the amounts specified in subparagraphs (C) and (D)
of paragraph (3).
(10) The amount determined by subtracting the amount determined
under paragraph (9) from the amount determined under paragraph (8).
The amount determined pursuant to this paragraph shall be the
available revenues as of the end of the previous fiscal year.
(e) For the purposes of this section, available revenues shall
include all cash or cash equivalents held by the agency that were
received by the agency pursuant to Section 33670 and all cash or cash
equivalents held by the agency that are irrevocably pledged or
restricted to payment of a loan, advance, or indebtedness that the
agency has listed on a statement of indebtedness. In no event shall
available revenues include funds in the agency's Low and Moderate
Income Housing Fund established pursuant to Section 33334.3. For the
purposes of determining available revenues as of the end of the
1992-93 fiscal year, an agency shall conduct an examination or audit
of its books and records for the 1990-91, 1991-92, and 1592-93 fiscal
years to determine the available revenues as of the end of the
1992-93 fiscal year.
(f) For the purposes of this section, the amount an agency will
deposit in its Low and Moderate Income Housing Fund established
pursuant to Section 33334.3 shall constitute an indebtedness of the
agency. For the purposes of this section, no loan, advance, or
indebtedness that an agency intends to pay from its Low and Moderate
Income Housing Fund established pursuant to Section 33334.3 shall be
listed on a statement of indebtedness or reconciliation statement as
a loan, advance, or indebtedness of the agency. For the purposes of
this section, any statutorily authorized deficit in or borrowing from
an agency's Low and Moderate Income Housing Fund established
pursuant to Section 33334.3 shall constitute an indebtedness of the
agency.
(g) The county auditor or officer shall, at the same time or times
as the payment of taxes into the funds of the respective taxing
agencies of the county, allocate and pay the portion of taxes
provided by subdivision (b� of Section 33670 to each agency. The
amount allocated and paid shall not exceed the amount determined
pursuant to subparagraph (C) of paragraph (1) of subdivision (c)
minus the amount determined pursuant to subparagraph (D) of paragraph
(1) of subdivision (c) ,
(h) (1) The statement of indebtedness constitutes prima facie
evidence of the loans, advances, or indebtedness of the agency.
(2) (A) If the county auditor or other officer disputes the amount
Page 2 of 3
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CA Codes (hsc:33670-33679)
of loans, advances, or indebtedness as shown on the statement of
indebtedness, the county auditor or other officer shall, within 30
days after receipt of the statement, give written notice to the
agency thereof.
(B) The agency shall, within 30 days after receipt of notice
pursuant to subparagraph (A), submit any further information it deems
appropriate to substantiate the amount of any loans, advances, or
indebtedness which has been disputed. If the county auditor or other
officer still disputes the amount of loans, advances, or
indebtedness, final written notice of that dispute shall be given to
the agency, and the amount disputed may be withheld from allocation
and payment to the agency as otherwise required by subdivision (g) .
In that event, the auditor or other officer shall bring an action in
the superior court in declaratory relief to determine the matter not
later than 90 days after the date of the final notice.
(3) In any court action brought pursuant to this section, the
issue shall involve only the amount of loans, advances, or
indebtedness, and not the validity of any contract or debt instrument
or any expenditures pursuant thereto. Payments to a trustee under a
bond resolution or indenture of any kind or payments to a public
agency in connection with payments by that public agency pursuant to
a lease or bond issue shall not be disputed in any action under this
section. The matter shall be set for trial at the earliest possible
date and shall take precedence over all other cases except older
matters of the same character. Unless an action is brought within
the time provided for herein, the auditor or other officer shall
allocate and pay the amount shown on the statement of indebtedness as
provided in subdivision (g) .
(i) Nothing in this section shall be construed to permit a
challenge to or attack on matters precluded from challenge or attack
by reason of Sections 33500 and 33501. However, nothing in this
section shall be construed to deny a remedy against the agency
otherwise provided by law.
(j) The Controller shall prescribe a uniform form of statement of
indebtedness and reconciliation statement. These forms shall be
consistent with this section. In preparing these forms, the
Controller shall obtain the input of county auditors, redevelopment
agencies, and organizations of county auditors and redevelopment
agencies.
(k) For the purposes of this section, a fiscal year shall be a
year that begins on July 1 and ends the following June 30.
Page 3 of 3
bttn-//www leainfn en -'AAnnnRrmP--'viA i/?/?nnR
STATEMENT OF INDEBTEDNESS FORM
STATEMENT OF INDEBTEDNESS - CONSOLIDATED Cover Page
FILED FOR THE TAX YEAR
Name. of Redevelopment Agency
Name of Project Area
Balances Carried Forward From:
Uie
Current
Total
Otttstaading Debt
Prin cipal/In te rest
Due During Tax Year
Fiscal Period ' Totals (From Form A. Page I Totals) (1)
(Optional,)
Post Fiscal Period — Totals (From FOM) B, Page I Totals) (2)
Grand Totals (3)
Available Revenues
From Calculation of Available Revenues, Line 7 (4)
Net
Requirement
Consolidate on this form all of the data contained on Form A and B (including supplenitntal pages). Form A is to include all indebtedness
entered into as of June 30 of the Fiscal Year. Form B may be filed at the option of the Agency, and is to include indebtedness entered into post
June 30 of the Fiscal Year, pursuant to Health and Safety Code section 33675(c)(2). This is optional for each agency and is not a requirement for
filing the Statement of Indebtedness. The Reconciliation Statement is to include indebtedness froni Form A only.
Certification of Chief Financial Officer:
Pursuant to Section 3 3 67 5 (b) of the Health and Safety Code, I
hereby certify that the above is a true and accurate Statement of Name Title
Indebtedness for the above named agency.
Signature Date
STATEMENT OF INDEBTEDNESS - FISCAL YEAR INDEBTEDNESS
FILED FOR THE TAX YEAR
Name cf Redevelopment Agency
Name of Project Area
For Indebtedness Entered into as of June 30,
Form A
Page 1 cf _
Debt identification
Or ginal Dat
(B)
Current
Date
Principal
Term
Interest
Rate
Total
Interest
Total
Outstanding Debt
Principalfinterest
Due During Tax Year
(B)
(C)
(P)
(E)
(F)
(G)
(H)
(1�
W
Sub Total, This Page
Totals Forward From All Other Pages
LTotals, Fiscal Year Indebtedness
Purpose of Indebtedness:
(A)
(F)
(B)
(G)
(C)
(D)
(H)
(1)
(E)
(J)
Rev. 7/6/2000
STATEMENT OF INDEBTEDNESS - FISCAL YEAR INDEBTEDNESS Form A
FILED FOR THE TAX YEAR Page — of
Name of Redevelopment Agency
Name cf Project Area
Debt Identification
Original
Data
Current
Date
Principal
Term
Interest
Rate
Total
Interest
Total
Outstanding Debt
PrincipallInterest
Due During Tax Year
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
(1)
(J)
J(K)
(L)
Total, This Page
(C)
(D)
(E)
(F)
Rev.
7/6/2000
(1)
(J)
(K)
(L)
STATEMENT OF INDEBTEDNESS— POST FISCALYEAR INDEBTEDNESS ONLY Form B
FILED FOR THE TAX YEAR (Optional)
Name of Redevelopment Agency
Name of Project Area
For Indebtedness Entered into Post June 30, _, as of
Debt Identification
Original
Data
(1)
Current
Date
Principal
Term
Rate
Total
Interest
Total
Outstanding Debt
Principallinterest
Due During Tax Year
(A)
(B)
(C)
(D)
(El_
tF)
(G)
H
W)
(K)
Totals, Post Fiscal Year
Indebtedness
Purpose of Indebtedness:
(A)
(B)
(G)
(H)
(C)
(1)
(D)
W)
(E)
(F)
(K)
(L)
Rev. 716/2000
Name of Agency
Name of Project Area
Tax Year
RECONCILIATION STATEMENT - CHANGES IN INDEBTEDNESS Page 1 d
Reconciliation Dates From July 1, _ To June 30, _.
Rev. 7/06/2000
A
B I C
D I E
F
Outstanding Debt
All Beginning
Indebtedness
Ad iustnents—
Amounts Paid Against
indebted ess.from.
Remaining
Balance
(A+B-C-D-E)
Debt Identification:
SOI, pac
e and line:
Brief
Description
-
Increases
(Attach Explanation
Decreases
(Attach Explanation)
Prior Y r
CurrentYr
Tax Increment
Other Funds
9
P9
he
Line
9
P9
he
Line
3
P9
ine
Line
3
P9
he
Line
I
P9
ne
Line
3
P9
he
Line
3
P�
ne
Line
3
P9
Ine
Line
OTAL-THIS PAGE
OTALS FORWARD
GRAND TOTALS
NOTE: This form is to reconcile the previous Statement of Indebtedness to the current one being filed. However, since the reconciliation period is
limited by law to a July 1 - June 30 fiscal year period. only those items included o n the S01 Form A is to be included on this document. To ass isl
in following each item of indebtedness from one S01 to the next, use page and line number references from each sol that the item of
indebtedness is listed on. If the indebtedness i s new to this fiscal year, enter "new" in the "Prior Yr- page and line columns. Column F must
equal the current SOI, Form A Total Outstanding Debt column.
Rev. 7/06/2000
Debt Identification:
A
B I C
D I E
F
Outstanding Debt
All Beginning
Indebtedness
Adjustments
Amounts PaidAgainst
Indebtedness, from:
Remaining
Balance
(A+B-C-D-E)
SOI, pa(e
and line:
Brief
Description
Increases
(Attach Explana!!qq
Decreases
Explanation)
PriorYr
Current Yr
Tax Increment
Olher Funds
4
Line
4
Line
-(Attach
119
Line
P9
Line
P9
Line
P9
Line
P9
Line
4
Line
P9
Line
P9
Line
4
Line
P9
Line
P9
Line
P9
Line
4
Line
4
Line
4
tine
P9
Line
P9
Line
P9
Line
P9
Line
P9
tine
py
4
TOTAL -THIS PAGE
Rev. 7/06/2000
CALCULATION OF AVAILABLE REVENUES
AGENCY NAME
PROJECTAREA
TAX YEAR
RECONCILIATION DATES: JULY 1, TO
JUNE 30,
Beginning Balance, Available Revenues
1.
(See Instructions)
Tax Increment Received - Gross
2.
All Tax Increment Revenues, to include any Tax Increment
passed through to other local taxing agencies.
All other Available Revenues Received
3.
(See Instructions)
Revenues from any other source, included
in Column E of the Reconciliation
Statement. but not included in (1-3) above
4.
Sum of Lines 1 through 4
5.
Total amounts paid against indebtedness
in previous year. Q+ E on Reconciliation Statement) 5.
Available Revenues, End of Year (5 - 6) 7.
FORWARD THIS AMOUNT TO STATEMENT OF
INDEBTEDNESS, COVER PAGE, LINE 4
NOTES
Tax Increment Revenues:
The only amount(s) to beexcluded asTax Increment Revenue are any amounts passedthrough to other local taxing
agencies pursuantto Health and Safety Code Section 33675. Tax Increment Revenue set-aside in the Low and Moderate
Income Housing Fund will be washed in the above calculation, and therefor omitted from Available Revenues at yearend.
Item 4. above:
This represents any payments from any source otherthan Tax Increment OR available revenues. For instance, an agency
funds a projectwith a bond issue. The previous SOI included a Disposition Development Agreement (DDA) which was
fully satisfied with these bond proceeds. The DDA would be shown on the Reconciliation Statement as fully repaid under
the "other" column (Col E). but with funds that were neitherTax Increment. nor "Available Revenues" as defined. The
amounts used to satisfy this DDA would be included on line 4 above in order to accurately determine ending "Available
Revenues:'
Rev. 71612000
EXAMPLES OF SOFT REDEVELOPMENT
DEBT
STATEMENT OF INDEBTEDNESS - FISCAL YEAR INDEBTEDNESS
FILED FOR THE 2007 - 08 TAX YEAR
Name of Redevelopment Agency: Redevelopment Agency cf the City of Stockton
Name of ProjectArea: Merged Midtown (Eastland and Midtown)
For indebtedness Entered into as.of June 30,2007
Fonn A
Page I of 2
Purposeof Indebtedness:
�A) RedevelopmentPlanAdoption
[B) Implement Eastland Plaza Project
(C) ImplementEastland Plaza Project
(D) Pursuantto Health 8 Safety Code Sertlon 33334.2
(E) Public Infrastructure Improvementsfor C -SUS -8 Project
5012007 StBiement 911212007
�� Pursuantto Health 8 Safety Code Section 33334.2
(G) Fee DeferralforG12 Carlton Ave
(H) Paymentsto Taxing Entities
(I)Pubilc Infrastructure Improvements- Stribley Community Center improvements
(j) Public Infrastructure Improvements'FilbertfMyrtle Traffic Signal
rlglnal Data
Current
Ditto Principal
Term
Interest
Rate
Total
Interest
Total
Outstanding Debt
Principalfinterest
Due During Tax Year
(A) Eastland Loan - 15th Yr CDBG
111rW1989 I 291M."
0- Pon
10%
523jeco-M
U3 18%.86
0.00
0 ESSWind Loan - i7th Yir CDOG
W111993 5W,090.90
open
None
NIA
509,000.1"
0M
(C) Eastland Low - 19M Yr CDBG
UAM294
None
W/A
5"'000.99
0.00
(D) Eastand Housing Set-A51de
As of Based U n
613W2096 Outstanding Debt
Until
Paid
None
WA.
0p, LIOGM
80,626.3
(E) Midtown CIP Loan - Infrastructure Imp.
1112612002 276,000.00
Open
None
NIA
1YO00.00
0.00
(F) Midtown Housing Set -Aside
As of Based Upon
W012006 Outstondino Debt
until
Paid
None
NIA
7,001v249-94,
(G) Fee Deferral - 612 Cartton Ave
1112612002 M,954A2_
55 Yimrs
None
WA
143R54A2
0.00
(H) AB 1290 Pmimts t� Taxing Eittitles
As of Based Upon
W3012ODS Outstanding Debt
open
None
WA
T.001-249-94
898,297.17
0) mmmm cli, - Wnistucture Imp.
GffrAft
1,01LOW.00
open
None
lial
0.00
Pj..�Wllldtom CIP -
wnm 409~. open
No"
Sub Totall, This Page
17,5T0,955-38
ZI 12,818.60
Totals Forwanl From All Other Paget
2M41,04S.34
T80,909.1112
1
Totals, Fliscall Year Indebtadn6ss
43M2,000.721
2,893,727.72
Purposeof Indebtedness:
�A) RedevelopmentPlanAdoption
[B) Implement Eastland Plaza Project
(C) ImplementEastland Plaza Project
(D) Pursuantto Health 8 Safety Code Sertlon 33334.2
(E) Public Infrastructure Improvementsfor C -SUS -8 Project
5012007 StBiement 911212007
�� Pursuantto Health 8 Safety Code Section 33334.2
(G) Fee DeferralforG12 Carlton Ave
(H) Paymentsto Taxing Entities
(I)Pubilc Infrastructure Improvements- Stribley Community Center improvements
(j) Public Infrastructure Improvements'FilbertfMyrtle Traffic Signal
STATEMENT OF INDEBTEDNESS- FISCALYEAR INDEBTEDNESS
FILED FOR THE 2007 - 08 TAX YEAR
Name Cf Redevelopment Agency: Redevelopment Agency of the Clty of Stockton
Name of ProjectArea: West End
ForIndebtedness Entered Into as of J une 30, 2007
Form A
Page 1 of 4
Debt Identification
riginall Data
Current
Date
Prin5eal Term
Interest
Rate
Total
Interest
Total
Outstanding Debt �
Principal/Interest
Due Vudnq Tax Year
Advance - Rev Sharing 1985-86
1011411986
3,183,207.44 Open
None
NIA
1,598,54&49
0.00
(B) Loan - CIP
9/411990
2, 964,347.11 Open
None
NIA
2,954,34T.11
0.00
19) Advance - 2ndYr CDBG
511611976
213,170.66 Open
None
NIA
163,170.66
50,000.00
(0) Advance -3rdYrCDBG
101611977
331,939.58 Open
None
N/A
331,939.58
0.00
(E) Advance - 4th Yr CDOG
612811978
351&6.34 Open
None
NIA'
351AT6.34
0.00
(n Advance - UDAG (Madna)
6"Ttmi
206ANA, Open
10%
2.2q&'a"
Ad%744M
0.00
(G) Advance - UDAG (Warehouse)
19%
11,061J)"
0.118
0) Advance r UIDAG Mtawnbmt Lan!!!pW
511011=
J&g�" o"n
10%
10,14ZI&?.75
11,167.M.75
0M
Advance - UDAG (01Mm Toweir U).
5110f1982
954220.001 Open
10%
GA1,721.94
9,30,941."
U4--A&w=e-UDAG(Offix*T*w*rQ
VM982
054,=.001 Open
ift
k384A"X_
9A0,07IL35
IL02
Sub Total. This Page,
46,394,617.73
50,000-00
ITotals Forward From AJI Other Pages
117,976,119.00
1,066A55.69
Lo�Is, Fisca! Year Indebtedness
164,370,736.T31
1, 11 6,!E- J69
Purposeof Indebtedness:
(A) Redevelop WaterfrontArea
(B) Instaliation of South Shore Seawall
(C) Redevelor)Waterfront Area
P) RedevelopWaterfront Area
(E) RedevelopWaterfront Area
6012W75taternent 9112MOT
(F) Pursuantfo DevelopmentAgreement between CitylAgency 12JI180
(G)Pursuantto DevelopmentAgreement between CitylAgency 12JI180
(H) Pursuant to DevelopmentAgreement between Cltyftency 12J1180
(1) Pursuantto Development Agreement between CitylAgency 12JI180
(i) Pursuant to DevelopmentAgreement between CitylAgency 12JI180
Form A
STATEMENT OF INDEBTEDNESS - FISCAL YEAR INDEBTEDNESS Page 1 of 1
FILED FORTH E 2007-08 TAX YEAR
Name of RedevelopmentAgency: Manteca Redevelopment
Name of Project Area: ProiectArea #2
For Indebtedness Entered Into as of June 30, 2007
Debt Identification
�na�ina[Data
Current
Date
Principal
Term
Interest I
Rate
Total Interest
-T-6OWN—Istanirm-g
Debt
TF-i—ncipavinterest Due
During Tax Year
1998 Tax Allocat—ion Rew-e-nue
(A) Bonds
1111/98
?,565,000
28 yews
3%-5.1%
2,183,960
0
0
2002 Tax AllocWon Revenue
(1) Bonds
10fl/02
30,765,000
30 years
2.0%-5.250/(
30,136,847
53,661.379
2,A119,794
(13) City Administrative Fees
on-going
N/A
N.A
11K440
1.154,440:
(D) Pass Through Payments
on-going
onz9oing
N/A
N/A
1,442,500
1,442,500
(E) County AdrWrilstrative Fees
on:Uoing
on:9ping
NIA
NIA
165.0w
165,000
20% Low and MWerate
(F) Inoorne Housing Set- Aside
oD:�Loinq
Based on
Outstanding Debt
on-goinR
N/A
NIA
64,280,053
2,403.210
(G) Develg2er Subsidy 8gre2ment
I I W
3,845,001)
untill paid
NIA
NIA
0
AW Developer Loan for H(b
2004 MergedArea Ta�
Purpose of Indebtedness:
LA) Bond l2roceedswere used to fund programs for PLqmectArea 92 Developer loan for the predevelopmentand construction of a qualifying
(8) Administrative fees for services provided by Cft to RDA senior housing project.
(G) Contracted r)rofessional services for preparation of DDA/related gmts W Bond proceeds used to fund programs for merged PromectArea (#I&#Z
Project Area # 1 & #2. Housing Bond to be used for LM I housing projects
As such, proceeds are I isted on I he M for PromectAreaS 1&Z
JOINT COOPERATION AGREEMENT
RESOLUTION NO. 2007-231
A RESOLUTION OF TH E CITY COUNCI L OF TH E CITY OF
LODI APPROVING AND AUTHORIZING THE EXECUTIONOF
AN AMENDED AND RESTATED COOPERATIONAGREEM ENT
WITH THE REDEVELOPMENTAGENCYOF THE CITY OF LODI
AND MAKING CERTAIN FINDINGS IN CONNECTION
THEREWITH
----------------------------------------- ......................
WHEREAS, the Redevelopment Agency of the City of Lodi (the "Agency") is a duly
constituted redevelopment agency and is undertaking certain activities necessary for
redevelopment under the provisionsof the California Community Redevelopment Law (Health
and Safety Code Sections 33000 et secr, herein, the "Law"); and
WHEREAS, pursuant to the provisionsof the Law, the City Council of the City of Lodi,
activated the Agency and has initiated a process for the consideration of the adoption of a
redevelopment plan (the "Redevelopment Plan") for a redevelopment project proposed to be
established consisting of certain territory in the eastern portion of the City limits (the "Project');
and
WHEREAS, pursuantto Law, the Agency is performing a publiefunction of benefitto the
City and may have access to services and facilities of the City; and
WHEREAS, the Agency and the City have entered into previous agreements or
arrangements and the Agency has previously issued promissory notes or incurred other
obligations (collectively, the "Prior Agreements") for the benefit of the City, which establish
evidence the indebted nessof the Agency to the City; and
WHEREAS, the City and the Agency desire to enter into an Amended and Restated
Cooperation Agreement in the form submitted herewith (the "Agreement'):
(1) To set forth activities, services, and facilities, which the City will renderfor
and make available to the Agency in furtherance of the activities and functions of the Agency
underthe Law; and
(2) To provide that the Agency will reimbursethe City for actions undertaken
and costs and expenses incurred by it for and on behalf cf the Agency.
WHEREAS, pursuantto the Community Redevelopment Law, the Agency is petforming
a publicfunction of the City and may have access to services and facilities of the City; and
WHEREAS, without amending, limiting, or modifying the Prior Agreements and the
ongoing effectiveness of such Prior Agreements, which shall remain in effect accordingto their
terms for the greatest time legally allowable, the Agency and the City desire to memorialize in
the Agreement certain matters relatingto the financial relationship between the Agency and the
City as it relatesto the Redevelopment Plan and its implementation;and
WHEREAS, the City and the Agency desire to provide for the ongoing provision of
administrative support to the Agency by the City for so long as the Agency requires such
support relativeto the Plan; and
1)()C'S()0 I 2�;075V2,120010-, -0000
WHEREAS, the City and the Agency desire to enter into an Amended and Restated
Cooperation Agreement substantially in the form on file with the Agency Secretary (the
"Agreement"):
To set forth activities, services, and facilities, which the City will continue to
render for and make available to the Agency in furtherance of the activities and
functions of the Agency underthe Community Redevelopment Law: and
(2) To reiterate and provide that the Agency will reimburse the City for actions
undertaken and costs and expenses incurred by it for and on behalf of the
Agency.
WHEREAS, the Agency has the general purpose of redevelopment and the elimination
of blightandthe provisionof publicfacilitiesto, besetforth inthe Redevelopment Plan; and
WHEREAS, the approval of and implementationof the Agreement will not alter the policy
of the Agency that the power of eminentdomain will not be availableto the Agency, it beingthe
intention of the Agency that the Redevelopment Plan not provide for the Agency to have the
powerof eminent domain: and
WHEREAS, consistentwith the policyof the Agency concerning eminent domain, staff is
instructedand directed that the power of eminent domain not be included in the Redevelopment
Plan: and
WHEREAS, the City Council has reviewed evidence, including both oral testimony and
writings, in connection with this matter, and has determinedthat the foregoing recitals, and each
of them, are true and correct, and further has determined that the Agreement is in the best
interests of the Agency and the City and the health, safety, and welfare cf its residents, and in
accord with the public purposes and provisions of applicable State and local law requirements.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LODI DOES RESOLVE
AS FOLLOWS:
Section 1 - The City Council finds and determines that the Agreement implements
the Law and the efforts cf the Agency to adopt and implement a Redevelopment Plan, is of
benefitto those areas proposedfor study for inclusionas a redevelopment project area (herein,
the "Proposed Area"), will contribute to the eradication of blight in the ProposedArea and is of
benefitto the Agency.
Section 2. The City Council states as its policy that the Redevelopment Plan not
include the power of eminent domain; staff is directed to cause the preparation of a
Redevelopment Plan that does not include the power of eminent domain exercisable by the
Agency.
Section 3. The City Council authorizes and directs the City Manager to execute on
behalf of the City the Agreement. The City Councilfurther authorizes and directs staff to take all
actions necessary and appropriate to implement the participation by the City pursuant to the
Agreement.
DOCS001250575vM001074)000
APPROVED AND ADOPTED this 21 "dayofNovern0er,2007./1.
BY,
BobJohnson, r
ATTEST:
— �'_ __ -1
Handi Johl. eJ�ity Clerk
STATE OF CALIFORNIA
COUNTY OF SAN JOAQU IN
CITY OF LODI
1, Randi Johl, City Clerk of the City cE Lodi, do hereby certify that the foregoing
ResolutionNo. 2007-231was passedand adopted bythe City Council of the Cityof Lodi in a
specialjoint meeting with the Lodi Redevelopment Agency held November 21, 2007, by the
following vote:
AYES: MEMBERS- Hansen, Hitchcock, Katzakian,and MayorJohnson
NOES: MEMBERS - Mounce,
ABSENT: MEMBERS -None
ABSTAIN: MEMBERS - None
3P
RandiJohl. CityClerk
DOCSOC/1250�7�v'_11_00 107-0000
RESOLUTIONNO. RDA2007-04
A RESOLUTIONOF THE REDEVELOPMENTAGENCYOF THE CITY OF LODI
APPROVING AND AUTHORIZING THE EXECUTION OF AN AMENDED AND
RESTATEDCOOPERATIONAGREEMENT WITH THE CITY OF LODI AND
MAKINGCERTAIN FINDINGS IN CONNECTION THEREWITH
---------------------------------------------------- =� --- =� --- =
WHEREAS, the Redevelopment Agency of the City of Lodi (the "Agency") is a duly
constituted redevelopment agency and is undertaking certain activities necessary for
redevelopment under the provisionsof the California community Redevelopment Law (Health
and Safety Code Sections33000 et seq, herein, the "Law"); and
WHEREAS, pursuantto the provisionsof the Law, the City Council C( the City of Lodi,
activated the Agency and has initiated a process for the consideration of the adoption of a
redevelopment plan (the "Redevelopment Plan") for a redevelopment project proposed to be
established consisting cf certain territory in the eastern portion of the City limits (the "Project"):
and
WHEREAS, pursuantto, Law, the Agency is performing a publicfunction of benefitto the
City and may have access to services and facilities of the City: and
WHEREAS, the Agency and the City have entered into previous agreements or
arrangements and the Agency has previously issued promissory notes or incurred other
obligations (collectively. the "Prior Agreements") for the benefit of the City, which establish
evidencethe indebtednessof the Agency to the City: and
WHEREAS, the City and the Agency desire to enter into an Amended and Restated
CooperationAgreement in the form submitted herewith(the "Agreement"):
To set forth activities, services, and facilities, which the City will renderfor
and make availlUble to the Agency in furtherance of the activities and functions of the Agency
under the Law: and
L2Qp To provide that the Agency will reimbursethe City for actions undertaken
and costs and enses incurred by itfor and on behalf of the Agency.
WHEREAS, pursuantto the Community Redevelopment Law, the Agency is performing
a publicfunction of the City and may haveaccess to services and facilities c f the City; and
WHEREAS, without amending, limiting, or modifying the Prior Agreements and the
ongoing effectivenessof such PriorAgreements, which shall remain in effect according to their
terms for the greatest time legally allowable, the Agency and the City desire to memorialize in
the Agreement certain matters relatingto the financial relationship betweenthe Agency and the
City as it relates to the Redevelopment Plan and its implementation: and
WHEREAS, the City and the Agency desire to provide for the ongoing provision of
administrative support to the Agency by the City for so long as the Agency requires such
support relativeto the Plan; and
DOCSOC1125057OV21=107-0000
WHEREAS, the City and the Agency desire to enter into an Amended and Restated
Cooperation Agreement substantially in the form on file with the Agency Secretary (the
"Agreement"):
To set forth activities, services, and facilities, which the City will continue to
render for and make available to the Agency in furtherance of the activities and
functions of the Agency underthe Community Redevelopment Law; and
(2) To reiterate and provide that the Agency will reimburse the City for actions
undertaken and costs and expenses incurred by it for and on behalf of the
Agency.
WHEREAS, the Agency has the general purpose of redevelopment and the elimination
of blightandthe provisionof publicfacilitiesto besetforth inthe Redevelopment Plan; and
WHEREAS, the approval of and implementationof the Agreement will not alter the policy
of the Agency that the power of eminent domain will not be availableto the Agency, it being the
intention of the Agency that the Redevelopment Plan not provide for the Agency to have the
powerof eminent domain; and
WHEREAS, consistentwith the policyof theAgency concerning eminent domain, staff is
instructedand directed that the power of eminentdomain not b e included in the Redevelopment
Plan; and
WHEREAS, the Agency has reviewed evidence, including both oral testimony and
writings, in connectionwith this matter, and has determined that the foregoing recitals, and each
of them, are true and correct, and further has determined that the Agreement is in the best
interests of the Agency and the City and the health, safety, and welfare of its residents, and in
accordwith the public purposesand provisionsof applicable State and local law requirements.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF 1-001
DOES RESOLVEAS FOLLOWS:
Section 1. The Agency finds and determines that the Agreement implements the
Law and the efforts of the Agency to adopt and implement a Redevelopment Plan, is of benefit
to those areas proposed for study for inclusion as a redevelopment project area (herein, the
"'Proposed Area"), will contribute to the eradication of blight in the Proposed Area, and is of
benefitto the Agency.
Section 2. The Agency states as its policythat the Redevelopment Plan not include
the power cf eminent domain; staff is directed to cause the preparation of a Redevelopment
Plan that does not includethe powerof eminent domain exercisableby the Agency.
Section 3. The Agency authorizes and directs the Executive Directorto execute on
behalf of the Agency the Agreement. The Agency further authorizes and directs staff to take all
actions necessary and appropriate to implement the participation by the Agency pursuantto the
Agreement.
2
DOCS OCI 1 2- 5057MJ200107-0000
APPROVED AND ADOPTED this 21 " day of November, 200T
Bob Johnson, Chair Whe Redevelopment
Agency of the Citycf Lodi
ATTEST:
— L lj-��
Randi Johif-55`cretary of the Redevelooment
Agency of the City of Lodi
STATE OF CALIFORNIA
COUNTYOF SANJOAOUIN
CITY OF LODI
1, Randi Johl, Secretary cf the Redevelopment Agency of the City of Lodi, do hereby
certify that the foregoing Resolution No. RDA2007-04 was passed and adopted by the
Redevelopment Agency of the City of Lodi in a specialjoint meeting with the Lodi City Council
held November2l, 2007, bythe following vote:
AYES: MEMBERS - Hansen, Hitchcock, Katzakian. and Chairperson Johnson
NOES: MEMBERS-Mounce
ABSENT MEMBERS - None
ABSTAIN: MEMBERS- None
R-affxflahl, Secret* of the M-Wedt-me Kl�pmvd
Agency cf the City0f Lodi
DOCSOC/1250570v2/200107 OWO
RESOLUTION NO. RDA2007-04
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF LODI
APPROVING AND AUTHORIZING THE EXECUTION OF AN AMENDED AND
RESTATED COOPERATION AGREEMENT WITH THE CITY OF LODI AND
MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH
-----------------
WHEREAS, the Redevelopment Agency of the City of Lodi (the "Agency") is a duly
constituted redevelopment agency and is undertaking certain activities necessary for
redevelopment under the provisions of the California Community Redevelopment Law (Health
and Safety Code Sections 33000 et seq; herein, the "Law"); and
WHEREAS, pursuant to the provisions of the Law, the City Council of the City of Lodi,
activated the Agency and has initiated a process for the consideration of the adoption of a
redevelopment plan (the "Redevelopment Plan") for a redevelopment project proposed to be
established consisting of certain territory in the eastern portion of the City limits (the "Project"):
and
WHEREAS, pursuant to Law, the Agency is performing a public function of benefit to the
City and may have access to services and facilities of the City; and
WHEREAS, the Agency and the City have entered into previous agreements or
arrangements and the Agency has previously issued promissory notes or incurred other
obligations (collectively, the "Prior Agreements") for the benefit of the City, which establish
evidence the indebtedness of the Agency to the City: and
WHEREAS, the City and the Agency desire to enter into an Amended and Restated
Cooperation Agreement in the form submitted herewith (the "Agreement"):
(1) To set forth activities, services, and facilities, which the City will render for
and make available to the Agency in furtherance of the activities and functions of the Agency
under the Law: and
(2) To provide that the Agency will reimburse the City for actions undertaken
and costs and expenses incurred by it for and on behalf of the Agency.
WHEREAS, pursuant to the Community Redevelopment Law, the Agency is performing
a public function of the City and may have access to services and facilities of the City: and
WHEREAS, without amending, limiting, or modifying the Prior Agreements and the
ongoing effectiveness of such Prior Agreements, which shall remain in effect according to their
terms for the greatest time legally allowable, the Agency and the City desire to memorialize in
the Agreement certain matters relating to the financial relationship between the Agency and the
City as it relates to the Redevelopment Plan and its implementation: and
WHEREAS, the City and the Agency desire to provide for the ongoing provision of
administrative support to the Agency by the City for so long as the Agency requires such
support relative to the Plan: and
DOCSOC/ I 250570v21200107-0000
WHEREAS, the City and the Agency desire to enter into an Amended and Restated
Cooperation Agreement substantially in the form on file with the Agency Secretary (the
"Agreement"):
To set forth activities, services, and facilities, which the City will continue to
render for and make available to the Agency in furtherance of the activities and
functions of the Agency under the Community Redevelopment Law; and
(2) To reiterate and provide that the Agency will reimburse the City for actions
undertaken and costs and expenses incurred by it for and on behalf of the
Agency.
WHEREAS, the Agency has the general purpose of redevelopment and the elimination
of blight and the provision of public facilities to be set forth in the Redevelopment Plan; and
WHEREAS, the approval of and implementation of the Agreement will not alter the policy
of the Agency that the power of eminent domain will not be available to the Agency, it being the
intention of the Agency that the Redevelopment Plan not provide for the Agency to have the
power of eminent domain; and
WHEREAS, consistent with the policy of the Agency concerning eminent domain, staff is
instructed and directed that the power of eminent domain not be included in the Redevelopment
Plan; and
WHEREAS, the Agency has reviewed evidence, including both oral testimony and
writings, in connection with this matter, and has determined that the foregoing recitals, and each
of them, are true and correct, and further has determined that the Agreement is in the best
interests of the Agency and the City and the health, safety, and welfare of its residents, and in
accord with the public purposes and provisions of applicable State and local law requirements.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF LODI
DOES RESOLVE AS FOLLOWS:
Section 1. The Agency finds and determines that the Agreement implements the
Law and the efforts of the Agency to adopt and implement a Redevelopment Plan, is cf benefit
to those areas proposed for study for inclusion as a redevelopment project area (herein, the
"Proposed Area"), will contribute to the eradication of blight in the Proposed Area, and is of
benefit to the Agency.
Section 2. The Agency states as its policy that the Redevelopment Plan not include
the power of eminent domain; staff is directed to cause the preparation of a Redevelopment
Plan that does not include the power of eminent domain exercisable by the Agency.
Section 3. The Agency authorizes and directs the Executive Director to execute on
behalf of the Agency the Agreement. The Agency further authorizes and directs staff to take all
actions necessary and appropriate to implement the participation by the Agency pursuant to the
Agreement.
DOCSOC/ I 250570v21200 107-0000
APPROVED AND ADOPTED this 21s'day of November, 2007.
Bob Johnson, ChairU4he Redevelopment
Agency cf the City of Lodi
ATTEST:
Randi Johl'-S-e-c—retary of the Redevelopment
Agency of the City of Lodi
STATE OF CALIFORNIA
COUNTY OF SAN JOAQUIN
CITY OF LODI
1, Randi Johl, Secretary of the Redevelopment Agency of the City cf Lodi, do hereby
certify that the foregoing Resolution No. RDA2007-04 was passed and adopted by the
Redevelopment Agency of the City of Lodi in a special joint meeting with the Lodi City Council
held November 21, 2007, by the following vote:
AYES: MEMBERS - Hansen, Hitchcock, Katzakian, and Chairperson Johnson
NOES: MEMBERS - Mounce
ABSENT MEMBERS - None
ABSTAIN: MEMBERS - None
RandiJdhI, Secretary of the Redevelopment
Agency of the City cf Lodi
DOCSOC/ I 25O57Ov2/200107-0000
AMENDED AND RESTATED COOPERATION AGREEMENT
THIS AMENDED AND RESTATED AGREEMENT (the "Agreement") is entered into as
of November 2007, by and between the CITY OF LODI (herein the "City") and the
REDEVELOPMENT AGENCY OF THE CITY OF LODI (herein the "Agency").
RECITALS
A. Pursuant to the provisions of the California Community Redevelopment Law
(Health and Safety Code Section 33000 et seq.; the "Law"), the City Council of the City of Lodi,
activated the Agency and has initiated a process for the consideration of the adoption of a
redevelopment plan (the "Redevelopment Plan") for a redevelopment project proposed to be
established consisting of certain territory in the eastern portion of the City limits (the "Project").
B. Pursuant to the Law, the Agency is performing a public function of the City and
may have access to services and facilities of the City.
C. The Agency and the City have entered into previous agreements or
arrangements and the Agency has previously issued promissory notes or incurred other
obligations for the benefit of the City which evidence the indebtedness cf the Agency to the City.
D. The City and the Agency desire to enter into this Agreement:
(1) To set forth activities, services and facilities which the City wiii render for
and make available to the Agency in furtherance of the activities and
functions of the Agency under the Law; and
(2) To provide that the Agency will reimburse the City for actions undertaken
and costs and expenses incurred by it for and on behalf of the Agency.
AGREEMENTS
1 - The City agrees to provide for the Agency such staff assistance, supplies,
technical services and other services and facilities of the City as the Agency may require in
carrying out its functions under the Law. Such assistance and services may include the
services of officers and employees and special consultants. In addition, the City has engaged
and will continue to utilize the services, for the benefit of the Agency, of various consultants, the
DOCSOC/ 1250531 v4/200107-0000
costs of which are being recorded by the City and which costs constitute indebtedness of the
Agency to be repaid to the City by the Agency as provided herein.
2. The City may, but is not required to, advance necessary funds to the Agency or
to expend funds on behalf of the Agency for implementation of the Redevelopment Plan,
including, but not limited to, the costs of surveys, planning, studies and environmental
assessments for implementation of the Redevelopment Plan, the costs of purchase of any
property within the Project, demolition and clearance of properties purchased, building and site
preparation, public improvements and relocation assistance to displaced residential and
nonresidential occupants, if any, as required by law.
3. The City will keep records of activities and services undertaken pursuant to this
Agreement and the costs thereof in order that an accurate record of the Agency's liability to the
City can be ascertained. The City shall periodically, but not less than annually, submit to the
Agency a statement of the costs incurred by the City in rendering activities and services of the
City to the Agency pursuant to this Agreement. Such statement ef costs may include a
proration of the City's administrative and salary expense attributable to services of City officials,
employees and departments rendered for the Agency.
4. The Agency agrees to pay the City, with interest, an amount equal to all
expenditures made and obligations and liabilities incurred by the City pursuant to this
Agreement from and to the extent that funds are available to the Agency for such purpose
pursuant to Section 33670 of the Health and Safety Code ("Tax Increment") and the Agency
pledges the Tax Increment to repayment of its indebtedness to the City hereunder: provided,
however, that the Agency shall have the sole and exclusive right to subordinate such pledge for
the benefit of the City to such other pledges as the Agency may make with respect to repayment
of other indebtedness incurred by the Agency in carrying out the Project. The costs of the City
under this Agreement will be shown on statements submitted to the Agency pursuant to Section
3 above. The parties recognize that repayment may occur over a period of time. Interest shall
accrue on all amounts payable by the Agency pursuant to this Agreement at the rate of the
lesser of (i) twelve percent (12%) per annum, or (ii) the highest legal ly-al lowable interest rate for
a redevelopment agency.
5. The Agency agrees that it shall comply with the City's personnel policies and
administrative regulations in connection with its activities and obligations under this Agreement.
2
DOCSOCII 25053 N41200107-0000
6. The City agrees to include the Agency within the terms of the City's insurance
policy. The Agency shall pay to the City its pro rata share of the costs of insurance applicable to
its activities resulting from the Agency's inclusion in the City's policy.
7. The obligations of the Agency under this Agreement shall constitute an
indebtedness of the Agency within the meaning of Section 33670 et seq. of the Law.
8. The obligation of the Agency to make payment to the City shall, without necessity
of further action by the Agency or City, be junior and subordinate to all other obligations or
indebtedness heretofore or hereafter voluntarily incurred by the Agency, excepting only to the
extent, if any, that the Agency expressly provides to contrary effect in the instruments creating
such other obligations or indebtedness.
9. This Agreement shall supercede prior agreements between the parities hereto
covering the same subject matter.
3
DOCSOC/ 125053 1 v4/200107-0000
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first
above written.
ATTE
RanM Clerk
ATTEST:
\jkgeR4;y�ecretary
APPROVED AS TO FORM:
H j�BAUO
City Attorney
DOCSOCI 125053 1 v4/200107-0000
CITY OF LODI, a California Municipal Corporation
Xr72- � --,�
By:
Blair Manager
REDEVELOPMENT AGENCY OF THE CITY OF LODI
By:
Exe
A�ve rector
4