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HomeMy WebLinkAbout1992-02-25 - AGENDA REPORTS - SOLEDADCYN FINANCING (2)AGENDA REPORT City Manager. Item to be p: CONSENT CALENDAR DATE: February 25, 1992 SUBJECT:, SOLEDAD CANYON -ROAD INTEGRATED FINANCING ASSESSMENT DISTRICT NO. 92-1 Resolution Number: 92-46 DEPARTMENT: Community Development BACKGROUND As a part of the conditions of approval, for various new development in the area of Soledad Canyon Road and Sand Canyon Road, a funding mechanism is required so that each of the developers would share in the cost of widening Soledad Canyon Road. Since none of the developers has decided to establish the funding mechanism to construct the improvements at this time, the City has opted to move ahead with the project. The City may fund these improvements and be reimbursed as each development proceeds through the establishment of an integrated financing district. The. proposed reimbursement district, using the Integrated Financing Act and the Municipal Improvement Act of 1913, will be formed to place these construction :costs on the undeveloped properties which benefit from this project. The contract for these improvements is expected to be awarded at this meeting. The initial phase of the district can begin by adopting a resolution which authorizes the work to proceed and direct Willdan Associates. to provide assessment engineering and Burke, Williams, and Sorensen as special counsel for these proceedings. The cost for establishment of the district have been included in the budget for the project and will be reimbursed to the City as development proceeds. Further steps include an Engineer's Report,- boundary map, public hearing, ordinance creating district, and final recording of assessments. The costs placed on the individual developers will be reimbursed to the City through the building permit process. Staff recommends the adoption.of the enclosed resolution so that formation of this integrated financing district may begin. Adopted;- 9� Agenda Item: Soledad Canyon Road Integrated Financing Assessment District No. 92-1 February 25, 1992 Page 2 RECOMMENDATION 1. Adopt Resolution No. 92-46 and direct the City Attorney to prepare, institute, and prosecute in the name of the City such proceedings. ATTACHMENTS Resolution No. 92-46 DLS:600 RESOLUTION NO. 92-46 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA MAKING CERTAIN PROFESSIONAL APPOINTMENTS FOR ITS PROPOSED SOLEDAD CANYON INTEGRATED FINANCING ASSESSMENT DISTRICT NO. 92-1 AND DIRECTING THAT CERTAIN ACTS BE TAKEN IN FURTHERANCE OF TEE DISTRICT'S FORMATION WHEREAS, the City Council of the City of Santa Clarita (the "City") has considered all matters relating to the proposed construction of certain public improvements pursuant to7 the Integrated Financing District Act and the Municipal Improvement Act of 1913, and for the levy of contingent assessments against properties within a proposed assessment district to be designated an Integrated Financing Assessment District No. 92-1 (the "Assessment District"), WHEREAS, the City previously provided funds to finance said improvements by the execution and delivery of "Certificates Of Participation (Capital Improvements Projects) Evidencing A Proportionate Interest Of The Owners Thereof In Lease Payments to be Made By the City of Santa Clarita (Los Angeles County, California) to the Redevelopment Agency of the City of Santa Clarita" (The "Certificates") dated October 1, 1991, in the original principal amount of $22,940,000; WHEREAS, the City is proposing to proceed with construction of said improvements with a portion of the proceeds of the Certificates: WHEREAS, the City finds that .it is in the best interest of .the City, is in the public interest and is for the public benefit that the City set forth the expectation of full or partial payment or reimbursement of certain lease payments related to the Certificates from the proceeds of contingent assessments levied on property within the Assessment District; WHEREAS, the public interest and convenience requires the construction of said improvements; and NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED AND DECLARED by the City Council of the City of.Santa Clarita, California, as follows: SECTION 1. That any payments made by the City from its General Fund or from the Certificate proceeds in connection with the construction of said improvements and the formation of the Assessment District are intended. to be made strictly in anticipation of reimbursement therefore from the proceeds of contingent assessments levied on property within.the Assessment District. SECTION 2. That the firm of Willdan Associates is hereby designated and appointed Engineer of Work and employed to do and perform all engineering work necessary in and for the proceedings, including preparation of the description of improvements, the boundary map, and the estimate of costs and the Assessment Diagrams, pursuant to its existing contract for services with the City. RESOLUTION NO. 92-46 Page 2 SECTION 3. That the firm of Burke, Williams, Sorensen & Gear, Attorneys at Law, is hereby designated and appointed special counsel.with respect to the assessment proceedings and is employed to perform all legal work relating to said assessment proceedings. Fees, costs and the scope for such work shall be as set forth in the letter agreement dated September 11, 1991. SECTION 4. That Richard Kopecky is hereby appointed Superintendent of Streets for all purposes with respect to the Assessment District. As Superintendent of Streets, he is authorized and directed to do and perform all duties imposed upon the Superintendent of Streets pursuant to the Municipal Improvement Act of 1913, as amended, being Division 12 of the Streets and Highways Code of the State of California, excepting those duties and responsibilities which have been or will be assigned to the Engineer of Work. All certificates or documents required to be signed by or kept on file by the Superintendent of Streets for said project shall be kept on file with the City Clerk. SECTION 5. The City Clerk shall certify the adoption of this Resolution and thenceforth and thereafter same shall be in full force and effect. PASSED, APPROVED AND ADOPTED this.25th day of February, 1992. ATTEST: CITY CLERK CITY OF SANTA CLARITA, CALIFORNIA MAYOR 1, 1 City Clerk of the City of Santa Clarita, California, do hereby certify that the foregoing resolution was duly adopted by the City Council of the City of Santa Clarita, California, at a regular meeting of said Council on the 25th day of February 1992, and that is was so adopted by the following vote: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: ABSTAIN: COUNCILMEMBERS: CITY CLERK DLS:599