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HomeMy WebLinkAbout2010-06-22 - AGENDA REPORTS - FY 2011 BUDGET & CIP (2)Agenda Item:N6_Wq^ CITY OF SANTA CLARITA JOINT CITY COUNCIL / REDEVELOPMENT AGENCY CONSENT CALENDAR DATE: n SUBJECT: DEPARTMENT: AGENDA REPORT City Manager Approval: Item to be presented by: June 22, 2010 FISCAL YEAR 2010-2011 ANNUAL OPERATING BUDGET AND FIVE-YEAR CAPITAL IMPROVEMENT PROGRAM City Manager's Office RECOMMENDED ACTION City Council: 1. Adopt resolution Adopting the Annual Budget for Fiscal Year 2010-2011. 2. Adopt resolution -Adopting the Five -Year Capital Improvement Program. 3. Adopt resolution Setting the Appropriations Limit for Fiscal Year 2010-2011. 4. Adopt resolution Electing to Receive All or a Portion of the Tax Revenues Pursuant to Health and Safety Code (Community Development Law). 5. Adopt resolution Approving a Loan from the Bouquet Canyon Bridge and Thoroughfare District to the Via Princessa Bridge and Thoroughfare District in the amount of $199,000. 6. Adopt resolution Approving a Loan from the Valencia Bridge and Thoroughfare to the Via Princessa Bridge and Thoroughfare District in the amount of $789,758. 7. .Adopt resolution Approving a Loan from the Developers Fee Fund to the Via Princessa Bridge and Thoroughfare in the amount of $111,242. 8. Adopt resolution Approving a Loan from the City of Santa Clarita to the Redevelopment Agency not to exceed $2,309,886 and Note Related Thereto. Redevelopment Agency: 9. Adopt resolution Adopting the Annual Budget for Fiscal Year 2010-2011. 10. Adopt resolution Accepting a Loan from the City of Santa Clarita in an amount not to exceed $2,309,886 and Note Related Thereto. J, C) -H t� ��Z�s� • 10-3'7 ®— XS K�30. r o--qo ,Zero . to --q / glee N0_ 10 — Iiz. 1?,_so.i2A� BACKGROUND The annual budget process began in December 2009. Study Sessions were held with the City Council on February 2, 2010, and May 4, 2010. Meetings with the Budget Subcommittee comprised of Council Member Ferry and Kellar were also held during the course of the budget process. The proposed balanced budget was presented to the City Council during a Public Hearing on May 25, 2010. The City's budget totals $177 million. This includes funding for the Redevelopment Agency, Capital Projects, operations and maintenance, capital outlay, and debt services. Fiscal Year 2010-2011 General Fund appropriations total $77.4 million. General Fund revenues total $77.9 million. On May 18, 2010, the Planning Commission made a finding that the 2011-2015 Capital Improvement Program was consistent with the General Plan. The first resolution adopts the Annual Budget for Fiscal year 2010-2011, makes appropriations for the amount budgeted, and establishes policies for the administration of the budget. Included within this resolution are adjustments to the proposed budget for Fiscal Year 2010-2011 and "year-end cleanup" adjustments and transfers to the budget for Fiscal Year 2009-2010. The first resolution also includes the annual contracts for Fiscal Year 2010-2011, which incorporates our annual agreement with the Santa Clarita Valley Committee on Aging for a total of $375,000 for transit related support and for recreational wellness programs). Per the direction of the City Council during the June 8, 2010 City Council Meeting, this contract was increased by $50,000 (ongoing). Contingency money will be used to fund this increase for Fiscal ,Year 2010-2011. The second resolution adopts the Five -Year Capital Improvement Program. The third resolution adopts the Appropriations Limit for Fiscal 2010-2011 as required by Article 13B of the California Constitution. The fourth resolution elects to receive all, or a portion of, the tax revenues pursuant to Health and Safety Code Sections 33676 and 33607.5 (Community Redevelopment Law) and is required to receive tax increment revenue by the Redevelopment Agency. The fifth, sixth and seventh resolutions allow a loan from the Bouquet Canyon and Valencia Bridge and Thoroughfare Districts and the Developer Fee Fund to the Via Princessa Bridge and Thoroughfare District for the construction of the Newhall Avenue Pedestrian, Facilities and Sidewalk project. The eighth resolution approves a loan from the City to the Redevelopment Agency not to exceed $2,309,886 for completion of Phase 1 of the Newhall Streetscape project. The ninth resolution allows the Redevelopment Agency to adopt the Annual Budget for the Redevelopment Agency. The tenth resolution allows Redevelopment Agency to accept a loan from the City in the amount of $2,309,886. FISCAL IMPACT Adoption of the Fiscal Year 2010-2011 balanced budget provides a spending plan in the amount of $177 million. This includes funding for the Redevelopment Agency, Capital Projects, operations and maintenance, capital outlay, and debt services. Fiscal Year 2010-2011 General Fund appropriations total $77.4 million. General Fund revenues total $77.9 million. ATTACHMENTS 1. Resolution Adopting the Annual budget for Fiscal Year 2010-2011 2. Resolution Adopting the Capital Improvement Program 3. Resolution Setting the Appropriations Limit 4. Resolution Electing to Receive All or a Portion of the Tax Revenues Pursuant to Health and Safety Code 5. Resolution Approving a Loan from the Bouqet Canyon Bridge and Thoroughfare District to the Via Princessa Bridge and Thoroughfare District 6. Resolution Approving a Loan from the Valencia Bridge and Thoroughfare District 7. Resolution Approving Loan from the Developer Fee Fund 8. Resolution Approving a Loan from the City to the Redevelopment Agency 9. Resolution of the Redevelopment Agency Adopting the Annual Budget 10. Resolution of the Redevelopment Agency Accepting a Loan from the City RESOLUTION 10- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, ADOPTING THE ANNUAL BUDGET FOR FISCAL YEAR 2010-2011, MAKING APPROPRIATIONS FOR THE AMOUNT BUDGETED, AND ESTABLISHING POLICIES FOR THE ADMINISTRATION OF THE ADOPTED ANNUAL BUDGET WHEREAS, a proposed Annual Budget for the City of Santa Clarita for the fiscal year commencing July 1, 2010, and ending June 30, 2011, was submitted by the City Manager to the City Council and is on file with the City Clerk, and WHEREAS, the City Council has held a Public Hearing on the proposed budget on May 25, 2010, and WHEREAS, the City Council has made certain revisions, corrections, and modifications to said proposed budget, and WHEREAS, the City Manager has caused the proposed document to be corrected to reflect the changes ordered by the City Council. NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as follows: SECTION 1. The budget, on file with the City Clerk and incorporated herein by reference, inclusive of the adjustments attached hereto as Exhibit A, is hereby passed and adopted as the Annual Budget for the City of Santa Clarita for Fiscal Year commencing July 1, 2010, and ending June 30, 2011. SECTION 2. There is hereby appropriated to each account the sum shown for such account in the budget referenced herein above in Section 1. The appropriations provided for herein constitute the maximum amounts authorized for obligation and expenditure to finance the operations of the City of Santa Clarita, and the City Manager is authorized and empowered to expend such appropriations for said purpose. Additional appropriations shall be made only by official action of the City Council. SECTION 3. The positions as they appear in the budget referenced herein above in Section 1 are authorized and approved for the fiscal year commencing July 1, 2010, and ending June 30, 2011. SECTION 4. All obligations and expenditures shall be incurred and made in the manner provided by and pursuant to State law and City ordinances, resolutions, and policies relative to purchasing and contract. SECTION 5. Each and every fund listed in the budget referenced herein above in Section 1 is hereby created, continued, established and/or reestablished, as the case may be, and each fund shall constitute a distinct accounting entity. SECTION 6. This annual budget resolution shall apply to all funds except bond funds, grant funds, trust and agency funds, and capital funds. Legislative action by the City Council to issue bond, accept grants, and/or authorize capital projects shall be considered as authority to expend funds for those purposes, subject to the requirements, restrictions, and -provisions of the State Law and the Santa Clarita Municipal Code relative to purchasing and contracting, and no further appropriation authority will be necessary. SECTION 7. Transfers of amounts herein appropriated within departments, between departments, and within the various funds created shall require the approval of the City Manager or his designee, provided the total appropriations for each fund is not exceeded. SECTION 8. The transfer of any amount of one fund to another fund and/or the appropriation of funds from Reserves and Fund Balance shall only be made pursuant to this budget resolution or subsequent official action of the City Council. When made by the City Council, such transfers and/or appropriations shall be considered amendments to the budget referenced herein above in Section 1. SECTION 9. The City Manager may approve any unused appropriations at the end of Fiscal Year 2009-10 for capital projects, special projects, and grant programs which shall be carried forward and become part of the budget referenced herein above in Section 1. SECTION 10. All purchase order commitments outstanding on June 30, 2010, are hereby continued and will become a part of the budget referenced herein above in Section 1. SECTION 11. The annual contracts detailed in Exhibit B are hereby approved and authorized for the Fiscal Year commencing July 1, 2010 and ending June 30, 2011. SECTION 12. The adopted budget for the Fiscal Year, commencing July 1, 2009 and ending June 30, 2010, shall be amended to incorporate the budget adjustments detailed in Exhibit C and the budget transfers detailed in Exhibit D. SECTION 13. The City Clerk shall certify to the adoption of this Resolution. PASSED, APPROVED, AND ADOPTED this 22°d day of June 2010. MAYOR ATTEST; 5 CITY CLERK STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA I, Sarah P. Gorman, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 22nd day of June 2010, by the following vote: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: CITY CLERK STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) CERTIFICATION OF CITY COUNCIL RESOLUTION I, Sarah P. Gorman, City Clerk of the City of Santa Clarita, do hereby certify that this is a true and correct copy of the original Resolution 10- adopted by the City Council of the City of Santa Clarita, California on June 22, 2010, which is now on file in my office. Witness my hand and seal of the City of Santa Clarita, California, this day of 2010. City Clerk By Deputy City Clerk EXHIBIT A CITY OF SANTA CLARITA Budget Transfer Fiscal Year 2010-2011 Expenditure Transfer Budget Transfer Description 100 16002 5161.001 Contractual Services $ (22,697) Transfer from operating account to personnel account 100 16002 5002.000 Part -Time Salaries $ 22,697 Transfer from operating account to personnel account 100 19300 5401.001 Council Contingency $ (50,000) Ongoing transfer from Council Contingency to the 100 15000 5161.001 Contractual Services $ 50,000 SCV Committee on Aging Expenditure Total EXHIBIT B City of Santa Clarita Contractual Agreements - Authorization Requests Fiscal Year 2010-2011 . ay � • a isAdm� tre De v e erv: in strativ Current Request Vendor Contract Account Number Description of Request Number Amount 12520-5161.010 1 Stay Green Inc. $622,200 12520-5141.001 03-00100-C (T46 -T1 Adv): Request to renew 12542-5161.010 existing contract for 9 months. 12542-5141.001 15207-5161.010 08-00283-A: Request to extend contact from 2 Stay Green Inc. $83,664 July 1, 2010 - June 30, 2011. This contract 15207-5141.001 will maintain newly acquired LMD areas. Request to approve contract with Dell and 3 Dell $125,000 12200.5161.001 authorize staff to expend an amount not to 12203.5201.002 exceed $125,000 in FY 10/11 for computer and network hardware purchases. Request to approve contract with Sungard Pentamation and authorize staff to expend 4 Sungard Pentamation $60,000 12200.5161.001 an amount not to exceed $60,000 in FY 10/11 for licensing, maintenance and application support. Request to contract with Sprint/Nextel and 5 Sprint/Nextel Mobile Phone Services $130,000 Various Accts authorize staff to expend an amount not to exceed $130,000 in FY 10/11 for mobile phone operational related service. Request to approve increase to contract with 12200.5111.009 CompuCom and authorize staff to expend an 6 CompuCom $60,000 amount not to exceed $60,000 in FY 10/11 for 12200.5161.001 Microsoft Server and other software licensing needs. Request to contract with Verizon Wireless 7 Verizon Wireless Mobile $60,000 Various Accts Mobile and authorize staff to expend an amount not to exceed $60,000 in FY 10/11 for mobile phone operational related service. Request to contract with AT&T and authorize 8 AT&T Phone Services $165,000 12201.5131.003 staff to expend an amount not to exceed $60,000 in FY 10/11 for land line/long- distance phone services. Request to renew and authorize staff to expend amount not to exceed $100,000 for 9 Pacific Utility Audit $100,000 12101-5161.001 auditing services of the city's electric utility bills in order to identify billing errors and overcharges. 100-4303.001 Request to renew and authorize staff to 10 Chandler Asset Management $100,000 390-4303.009 expend amount not to exceed $100,000 for 3914303.009 the management of the City's investments, cash and other financial instrumentalities. 11 US Postal Service $110,000 12003-5101.005 Request to renew contract with US Postal Services for Citywide postage needs. 12 Office Depot $75,000 12002-5101.003 Request to renew contract with Office Depot for Citywide office supply needs. Request to renew agreement with the SCV 13 Santa Clarita Valley Committee on Aging $375,000 12000-5161.002 Committee on Aging. $150,000 will cover 15000-5161.001 transit related services and $225,000 go toward recreation wellness programs. $2 mimstraNve Services TOTALS 065 864 d y 6 F be ” artm ... nt:�',Clt„ManW, ea ers Department' Current Contract Amount 3 Description'of Request Request Current Request to renew contract for 1 year for an 1 Vendor Contract Account' Number' Description of Request Number Amount purchasing and delivery of pool chemicals Request to renew contract until December 31, 2010 and to expend amount not to 2 Global Transportation - Contract No. 08-00201 102,630 15113-5161.002 exceed $65,000 (per 6 months) with Jamison 1 Jamison &Sullivan $ 65,000 11000-5161.001 8 Sullivan for Legislative Advocacy for CEMEX.These funds are part of the CMO Administration base budget. Request to renew contract until December 31, 2010 and to expend amount not to exceed $60,000 (per 6 months) with Fiona Hutton & 2 Fiona Hutton & Associates $ 60,000 13000-5161.002 Associates for Legislative Advocacy for CEMEX. Funding for this contract is requested as part of the FY 10-11 budget requests. Request to renew contract until December 31, 2010 and to expend amount not to exceed $60,000 (per 6 months) with Mark Kadesh 3 Mark Kadesh and Associates $ 60,000 13000-5161.002 and Associates for Legislative Advocacy for CEMEX. Funding for this contract is requested as part of the FY 10-11 budget requests. Request to renew contract for 3 years for an amount not to exceed $60,000 per year for a public/private partnership with the Santa Clarita Valley Automobile Dealers 4 Auto Dealers Association $ 60,000 11301-5161.002 Assocaition to continue the Shop Local Program. The Shop Local Program targets local residents, and is based on an ad campaign that shows the benefits residents receive as a result of making a local purchase. City, Manager's Department TOTAL $ 245000, Request Number Vendor Current Contract Amount Account Number Description'of Request Request to renew contract for 1 year for an 1 Intervalley Pool Supply 104,527 15104-5111.001 amount not to exceed $104,527 for purchasing and delivery of pool chemicals for all City pools. Request to renew contract for 1 year for an 2 Global Transportation - Contract No. 08-00201 102,630 15113-5161.002 amount not to exceed $102,630 for transportation services for Recreation and Community Services' programs. EXHIBIT C CITY OF SANTA CLARITA Budget Adjustments (ALL FUNDS) Fiscal Year 2009-2010 Revenue Adjustments Budget Adjustments Description 230 Gas Tax 4421.003 AB2928 Traffic Congestion Pr 42 S 1,595,134 Adjust budget - FY 09-10 Prop 42 allocation 308 Library Dev. Fees 4572.001 Developer Fees 144,000 Recognize deferred revenue 700 Transit 4422.007 MOSIP 1,003,088 Increase MOSIP revenue for TIN match & route 757 Revenue Total $ 2,742,222 Expenditure Adjustments Budget Adjustments Budget Adjustments Description 700 12400 5511.100 Transit S (161,395) Correct budget 390 13400 _ 5511.100 Redevelopment Agency 190,663 Correct budget 100 12100 5185.003 Finance 167,152 PY property taxes on Wagoner, Cemex and Norland 203 13325 5001.000 Code Enforcement Program (2,537) Adjust budget in the Community Preservation and Code Enforcement due to the 100 13200 5001.000 Community Preservation 8,888 change in personnel assigned to CDBG activities. 390 13400 5161.001 Redevelopment Agency 1,133,646 SERAF payment transfer to the County Auditor 100 19000 501 1.008 Non -Departmental Admin (18,000) Adjust unemployment taxes -GF 262 15206 5011.008 Prop A Park Maintenance 8,000 Adjust unemployment taxes -Non GF 700 12400 5011.009 Transit 27,000 Adjust FY 09-10 retiree health insurance 100 11400 5011.001 Human Resources (485,482) Move FY 09-10 retiree health insurance 100 19003 5011.009 Retiree Health Benefits -GF 280,000 Adjust FY 09-10 retiree health insurance 230 14504 5011.009 Street Maintenance 24,000 Adjust FY 09-10 retiree health insurance 356 14600 5011.009 Stormwater 4,400 Adjust FY 09-10 retiree health insurance 301 14404 5201.010 B&T Eastside 304,682 Record B&T credit for the storm drain system on Sand Canyon Road 301. 14404 5201.010 B&T Eastside 527,211 Record B&T credit for the roadway improvements to Sand Cyn and Soledad Expenditure Total $ 2,008,228 Capital Projects Budget Adjustments _ Description 230 M0071230 5161.001 09-10 Overlay Program S (195,000) Move project savings to fill ARRA finding shortfalls. 230 C3010230 5161.001 ARRA-Whites/Soledad RT 195,000 Move project savings to fill ARRA funding shortfalls. 230 M0071230 5161.001 09-10 Overlay Program (8,250) Move project savings to fill ARRA funding shortfalls. 230 C0034230 5161.001 ARRA-2008-09 Median Mod 8,250 Move project savings to fill ARRA funding shortfalls. 230 M0063230 5161.001 2008-09 Overlay/Slurry (138,245) Move project savings to fill ARRA funding shortfalls, 230 M0074230 5161.001 ARRA 09-10 Bridge Maint, 138,245 Move project savings to fill ARRA finding shortfalls. 230 M0063230 5161.001 2008-09 Overlay/Slurry (5,273) Budget adjustment 230 M0067230 5161.001 2008-09 Bridge Maint Program 5,273 Budget adjustment 230 M0063230 5161.001 2008-09 Overlay/Slurry (6,192) Budget adjustment 230 52004230 5161.001 Newhall Strectscape PH 1 6,192 Budget adjustment 230 M0063230 5161.001 2008-09 Overlay/Slurry (1,215) Budget adjustment 230 T0026230 5161.001 Safe Rts to School -Cedar Crk 1,215 Budget adjustment 233 M0071233 5161.001 09-10 Overlay Program (1,000,000) Funding swap from TDA Art 8 to Prop 42 230 M0071230 5161.001 09-10 Overlay Program 1,000,000 Funding swap from TDA Art 8 to Prop 42 230 M0072230 5161.001 ARRA Asphalt Roadway PH 1 (62,500) Funding swap from gas tax to general fund to meet MOE requirements 601 M0072601 5161.001 ARRA Asphalt Roadway PH 1 62,500 Funding swap from gas tax to general fund to meet MOE requirements 230 M0073230 5161901 ARRA Asphalt Roadway PH II (62,500) Funding swap from gas tax to general fund to meet MOE requirements 601 M0073601 5161.001 ARRA Asphalt Roadway PH 11 62,500 Funding swap from gas tax to general fund to meet MOE requirements 723 F3015723 5161.001 SC Teen Ctr Mezzanine (50,000) Transfer project savings from Teen Ctr to CH Earthquake Retrofit 723 F1017723 5161.001 CH Earthquake Retrofit 50,000 Transfer project savings from Teen Ctr to CH Earthquake Retrofit 233 52004233 5161.001 Newhall Strectscape PH 1 (831,720) Funding swap from TDA Art 8 to Developer Fees Fund 306 52004306 5161.001 Newhall Strectscape PH 1 831,720 Funding swap from TDA Art 8 to Developer Fees Fund 233 80004233 5161.001 2008-09 Landscape Program (21,679) Transfer project savings to cover cost ineligible for grants 233 T0028233 5161.001 Safe Rts to School -Cyn Spring 21,679 Transfer project savings to cover cost ineligible for grants 229 R0005229 5161.001 ARRA Bridge Light Retrofit (836,100) Transfer budget from the ARRA Energy Efficiency 229 F2007229 5161.001 Newhall Library 520,230 Community Block Grant to the Green Energy 229 14608 5161.000 ARRA Green Energy 315,870 Incentive Program and Newhall Library To reimburse SC Edison for the cost of underground transmission and 301 53005301 5161.001 G V/Soledad Interchange 326,807 distribution lines on Soledad Capital Improvement Projects Total $ 326,807 EXHIBIT D CITY OF SANTA CLARITA Budget Transfers (ALL FUNDS) Fiscal Year 2009-2010 Dent Fund Division Acct. Account/Title Budget Transfer Description AS 100 12101 5001.001 Regular Employees $ (12,000) Move salary savings for OPEB valuation update AS 100 12101 5161.002 Professional Services 12,000 Move salary savings for OPEB valuation update AS 100 12300 5001.001 Regular Salary (7,800) Move salary savings to cover operating cost AS 100 12300 5101.001 Publications & Subscription 3,600 Move salary savings to cover operating cost AS 100 12300 5101.002 Membership & Dues 800 Move salary savings to cover operating cost AS 100 12300 5161.002 Professional Services 1,800 Move salary savings to cover operating cost AS 100 12300 5161.004 Advertsing 1,600 Move salary savings to cover operating cost CD 391 13401 5201.004 Land (2,326) Adjust CDBG/Low-Mod budget CD 203 13311 5001.000 Regular Employees 2,326 Adjust CDBG/Low-Mod budget CD 203 13329 5161.001 Contractual Services (8,664) Adjust CDBG/Low-Mod budget CD 203 13329 5001.000 Regular Employees 8,664 Adjust CDBG/Low-Mod budget CD 391 13401 5201.004 Land (9,541) Adjust CDBG/Low-Mod budget CD 391 13401 5001.000 Regular Employees 9,541 Adjust CDBG/Low-Mod budget CM 100 11301 5001.001 Regular Employees (10,000) Move salary savings for New Year's Eve Sponsorship Prgm CM 100 11301 5161.002 Professional Services 10,000 Move salary savings for New Year's Eve Sponsorship Prgm CM 100 11303 5161.002 Professional Services (1,781) Transfer of funds for Film office part time staff CM 100 11303 5002.000 Part -Time Salaries 1,781 Transfer of funds for Film office part time staff CM 259 15303 5001.000 Regular Employees (3,363) WIA grant budget adjustments CM 259 15303 5002.001 Part -Time Salaries 6,413 WIA grant budget adjustments CM 259 15303 5003.001 Overtime 3,500 WIA grant budget adjustments CM 259 15303 5121.001 Rents/Leases (10,000) WIA grant budget adjustments CM 259 15303 5161.001 Contractual Services 3,450 WIA grant budget adjustments PW 100 14300 5161.001 Contractual Services (10,000) Ongoing base budget adjustment PW 100 14100 5001.000 Regular Employees 10,000 Ongoing base budget adjustment PW 100 14400 5161.001 Contractual Services (10,000) Ongoing base budget adjustment PW 100 14400 5003.000 Overtime 10,000 Ongoing base budget adjustment ND 100-700 19500 5501.000 Transfers Out (9,004,152) Correct Transfers In/Out NO 100-700 100-700 4711.000 Transfers In 9,004,152 Correct Transfers In/Out Total $ - l oq--- RESOLUTION NO. 10- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, ADOPTING THE 2011-2015 FIVE-YEAR CAPITAL IMPROVEMENT PROGRAM WHEREAS, a proposed Five -Year Capital Improvement Program for the City of Santa Clarita was submitted to the City Council and is on file in the City Clerk's Office; and WHEREAS, the City of Santa Clarita's Planning Commission on May 18, 2010, determined that the proposed 2011-2015 Five -Year Capital Improvement Program is consistent with the City's General Plan; and WHEREAS, procedures for adoption of the Five -Year Capital Improvement Program have been duly taken; and WHEREAS, the City Manager has made certain revisions, corrections, and modifications to reflect the changes ordered by the City Council. NOW, THEREFORE, the City Council of the City of Santa Clarita does resolve as follows: SECTION 1. The foregoing recitals are true and correct, and the City Council hereby so finds and determines. SECTION 2. The Capital Improvement Program presented to Council on May 25, 2010 is adopted subject to the incorporation of Council's comments, as the 2011-2015 Five -Year Capital Improvement Program for the City of Santa Clarita. SECTION 3. The City Clerk shall certify to the adoption of this resolution and certify this record to be a full true, correct copy of the action taken. PASSED, APPROVED AND ADOPTED this 22nd day of June, 2010. MAYOR ATTEST: /3 CITY CLERK STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) I, Sarah Gorman, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 22nd day of June, 2010, by the following vote: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: CITY CLERK l� STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) CERTIFICATION OF CITY COUNCIL RESOLUTION I, Sarah Gorman, City Clerk of the City of Santa Clarita, do hereby certify that this is a true and correct copy of the original Resolution No. 10- , adopted by the City Council of the City of Santa Clarita, California on June 22, 2010, which is now on file in my office. Witness my hand and seal of the City of Santa Clarita, California, this day of , 20 Sarah Gorman City Clerk By Susan Caputo, CMC Deputy City Clerk �s RESOLUTION NO. 10- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, ELECTING TO RECEIVE ALL OR A PORTION OF THE TAX REVENUES PURSUANT TO HEALTH AND SAFETY CODE SECTIONS 33676 AND 33607.5 WHEREAS, the City Council of the City of Santa Clarita ("City Council") adopted Ordinance No. 97-12 on July 8, 1997, adopting the Redevelopment Plan ("Redevelopment Plan") for the Newhall Redevelopment Project ("Project"), in order to address conditions of blight existing within the Newhall Redevelopment Project Area ("Project Area"); and WHEREAS, Section 33676 of the Health and Safety Code provides that prior to the adoption of a redevelopment plan, an affected taxing agency may elect to receive, in addition to the portion of taxes allocated to the affected taxing agency pursuant to Health and Safety Code Section 33670(a), all or any portion of the tax revenues allocated to the Redevelopment Agency of the City of Santa Clarita ("Agency"), pursuant to Health and Safety Code Section 33670(b), which are attributable to the tax -increases imposed for the benefit of the taxing agency after the year in which the ordinance adopting the Redevelopment Plan becomes effective ("Increases"); and WHEREAS, for redevelopment plans adopted on or after January 1, 1994, Section 33607.5 of the Health and Safety Code provides that in any fiscal year in which a redevelopment agency receives tax increments, the community that has adopted the redevelopment project area may elect to receive, and the Agency shall pay into it, an amount equal to twenty-five percent (25%) of its proportional share of the tax increments received by the Agency, after the amount required to deposit in the Low and Moderate Income Housing Fund has been deducted ("City Election"). NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as follows: SECTION 1. The foregoing recitals are true and correct, and the City Council hereby so finds and determines. SECTION 2. The City Council hereby elects to receive all Increases as herein defined. SECTION 3. The City Council hereby elects to receive the City Election as herein defined. SECTION 4. The City Clerk is hereby directed and authorized to transmit a copy of this Resolution to the Executive Director of the Agency and tax collector of the County of Los Angeles. PASSED, APPROVED AND ADOPTED this 22nd day of June, 2010. MAYOR ATTEST: CITY CLERK STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) I, Sarah Gorman, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 22nd day of June, 2010, by the following vote: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: CITY CLERK 0 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) CERTIFICATION OF CITY COUNCIL RESOLUTION I, Sarah Gorman, City Clerk of the City of Santa Clarita, do hereby certify that this is a true and correct copy of the original Resolution No. 10- , adopted by the City Council of the City of Santa Clarita, California on June 22, 2010, which is now on file in my office. Witness my hand and seal of the City of Santa Clarita, California, this day of , 20_. Sarah Gorman City Clerk By Susan Caputo, CMC Deputy City Clerk RESOLUTION NO. 10- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, APPROVING A LOAN FROM THE BOUQUET CANYON BRIDGE AND THOROUGHFARE DISTRICT TO THE VIA PRINCESSA BRIDGE AND THOROUGHFARE DISTRICT IN THE AMOUNT OF $199,000 WHEREAS, there are sufficient funds in the Bouquet Canyon Bridge and Thoroughfare District to make a loan in the amount of $ 199,000 to the Via Princessa Bridge & Thoroughfare District; and WHEREAS, the funds will be used to provide for the design and construction of the Newhall Avenue Pedestrian, Facilities and Sidewalk project; AND NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as follows: SECTION 1. It is agreed that $199,000 from the Bouquet Canyon Bridge & Thoroughfare will be loaned to the Via Princessa Bridge & Thoroughfare District. SECTION 2. The amount of the loan will be paid back at a future time when funds in the amount of $199,000 are available to repay the loan back to the Bouquet Canyon Bridge & Thoroughfare District. SECTION 3. The loan will be paid back at an interest rate equivalent to the yield of the average monthly investment portfolio. SECTION 4. The City Clerk shall certify to the adoption of this Resolution. PASSED, APPROVED AND ADOPTED this day of , 2010. MAYOR ATTEST: 19 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) I, Sarah P. Gorman, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 22°d day of June, 2010, by the following vote: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: CITY CLERK STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) CERTIFICATION OF CITY COUNCIL RESOLUTION I, Sarah P. Gorman, City Clerk of the City of Santa Clarita, do hereby certify that this is a true and correct copy of the original Resolution No. 10- , adopted by the City Council of the City of Santa Clarita on , 2010, which is now on file in my office. Witness my hand and seal of the City of Santa Clarita, California, this day of , 2010. Sarah P. Gorman City Clerk By Susan Caputo, CMC Deputy City Clerk 91 RESOLUTION NO. 10- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, APPROVING A LOAN FROM THE VALENCIA BRIDGE AND THOROUGHFARE DISTRICT TO THE VIA PRINCESSA BRIDGE AND THOROUGHFARE DISTRICT IN THE AMOUNT OF $789,758 WHEREAS, there are sufficient funds in the Valencia Bridge and Thoroughfare District to make a loan in the amount of $ 789,758 to the Via Princessa Bridge & Thoroughfare District; and WHEREAS, the funds will be used to provide for the design and construction of the Newhall Avenue Pedestrian, Facilities and Sidewalk project; AND NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as follows: SECTION 1. It is agreed that $789,758 from the Valencia Bridge & Thoroughfare will be loaned to the Via Princessa Bridge & Thoroughfare District. SECTION 2. The amount of the loan will be paid back at a future time when funds in the amount of $789,758 are available to repay the loan back to the Valencia Bridge & Thoroughfare District, SECTION 3. The loan will be paid back at an interest rate equivalent to the yield of the average monthly investment portfolio. SECTION 4. The City Clerk shall certify to the adoption of this Resolution. PASSED, APPROVED AND ADOPTED this day of , 2010. MAYOR ATTEST: STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) I, Sarah P. Gorman, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 22nd day of June, 2010, by the following vote: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: CITY CLERK c�-,3 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss.. CITY OF SANTA CLARITA ) CERTIFICATION OF CITY COUNCIL RESOLUTION I, Sarah P. Gorman, City Clerk of the City of Santa Clarita, do hereby certify that this is a true and correct copy of the original Resolution No. 10- , adopted by the City Council of the City of Santa Clarita on , 2010, which is now on file in my office. Witness my hand and seal of the City of Santa Clarita, California, this day of 72010. Sarah P. Gorman City Clerk By Susan Caputo, CMC Deputy City Clerk 2`i RESOLUTION NO, 10- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, APPROVING A LOAN FROM THE DEVELOPERS FEE FUND (SAN FERNANDO RELINQUISHMENT) TO THE VIA PRINCESSA BRIDGE AND THOROUGHFARE DISTRICT IN THE AMOUNT OF $111,242 WHEREAS, there are sufficient funds in the Developers Fee Fund (San Fernando Relinquishment) to make a loan in the amount of $ 111,242 to the Via Princessa Bridge & Thoroughfare District; and WHEREAS, the funds will be used to provide for the design and construction of the Newhall Avenue Pedestrian, Facilities and Sidewalk project; AND NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as follows: SECTION 1. It is agreed that $111,242 from the Developers Fee Fund will be loaned to the Via Princessa Bridge & Thoroughfare District. SECTION 2. The amount of the loan will be paid back at a future time when funds in the amount of $111,242 are available to repay the loan back to the Developers Fee Fund. SECTION 3. The loan will be paid back at an interest rate equivalent to the yield of the average monthly investment portfolio. SECTION 4. The City Clerk shall certify to the adoption of this Resolution. PASSED, APPROVED AND ADOPTED this — day of 52010. MAYOR ATTEST: 95 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) I, Sarah P. Gorman, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 22nd day of June, 2010, by the following vote: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: CITY CLERK STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) CERTIFICATION OF CITY COUNCIL RESOLUTION I, Sarah P. Gorman, City Clerk of the City of Santa Clarita, do hereby certify that this is a true and correct copy of the original Resolution No. 10- , adopted by the City Council of the City of Santa Clarita on , 2010, which is now on file in my office. Witness my hand and seal of the City of Santa Clarita, California, this day of 2010. Sarah P. Gorman City Clerk By Susan Caputo, CMC Deputy City Clerk RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, MAKING A LOAN TO THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA CLARITA, IN THE AMOUNT OF $2,309,886 WHEREAS, the Redevelopment Agency of the City of Santa Clarita (the "Agency") is authorized pursuant to the Community Redevelopment Law, being Part 1 of Division 24 (commencing with Section 33000) of the Health and Safety Code of the State of California (the "Law"), to incur indebtedness for the purpose of financing certain redevelopment activities within and/or of benefit to its Newhall Redevelopment Project Area (the "Project Area"); and WHEREAS, there are sufficient funds in the Developer Fee Fund (San Fernando Rd. Relinquishment Funds) to make a loan in the amount of $2,309,886 to the Agency; and WHEREAS, the funds will be used for completion of the Newhall Streetscape Phase II; and WHEREAS, the Agency requested the City make a new loan to the Agency in the principal amount of $2,309,886, dated as of June 22, 2010, the proposed form of which has been presented to this City Council: and WHEREAS, the City Council, with the aid of its staff, has reviewed the documentation related to the issuance of the Note, which documentation is on file with the City Clerk of the City of Santa Clarita. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA CLARITA HEREBY, RESOLVES AND ORDERS AS FOLLOWS: Section 1. The City hereby makes the offer of a loan in the amount of $2,309,886 to the Agency in accordance with the law and pursuant to the terms and conditions of the Promissory Note by and between the City and the Agency. Section 2. The City hereby approves the Loan, together with such revisions, amendments and completions as shall be approved by the Mayor, the City Manager, the Deputy City Manager, or the City Clerk or any designee of any of them (each, an "Authorized Officer"), such approval to be conclusively evidenced by the execution and delivery thereof by an Authorized Officer. The date, maturity date, interest rate or rates, form and other terms of the Note shall be as provided in the Promissory Note, as finally executed. Section 3. Any one of the Authorized Officers is hereby authorized and directed, jointly and severally, to execute and deliver any and all documents and instruments and to do and cause to be done any and all acts and things necessary or proper in order to consummate the execution of the Note and otherwise to effectuate the purposes of this Resolution and the transactions contemplated hereby. Section 4. This Resolution shall take effect immediately upon its adoption. PASSED, APPROVED AND ADOPTED this. day of June, 2010. ATTEST: CITY CLERK STATE OF CALIFORNIA COUNTY OF LOS ANGELES CITY OF SANTA CLARITA ss CITY OF SANTA CLARITA MAYOR I, , City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the day of June, 2010, by the following vote: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: CITY CLERK 80194011.1 2 RESOLUTION 10- A RESOLUTION OF THE CITY OF SANTA CLARITA REDEVELOPMENT AGENCY, ADOPTING THE ANNUAL BUDGET FOR FISCAL YEAR 2010-11, MAKING APPROPRIATIONS FOR THE AMOUNT BUDGETED, AND ESTABLISHING POLICIES FOR THE ADMINISTRATION OF THE ADOPTED ANNUAL BUDGET WHEREAS, a proposed Annual Budget for the City of Santa Clarita Redevelopment Agency for the fiscal year commencing July 1, 2010, and ending June 30, 2011, was submitted by the Executive Director to the Redevelopment Agency and is on file with the Agency Secretary, and WHEREAS, appropriations made pursuant to the budget of the Agency are exempt from provisions of Article XIIIB of the California Constitution where used for redevelopment activities, and WHEREAS, the Redevelopment Agency Board has held a Public Hearing on the proposed budget on May 25, 2010, and NOW, THEREFORE, the City of Santa Clarita Redevelopment Agency does hereby resolve as follows: SECTION 1. The foregoing recitals are true and correct, and the Redevelopment Agency Board hereby so finds and determines. SECTION 2. The budget, on file with the Agency Secretary and incorporated herein by reference is hereby, passed and adopted as the Annual Budget for the City of Santa Clarita Redevelopment Agency for the Fiscal Year commencing July 1, 2010, and ending June 30, 2011. SECTION 3. There is hereby appropriated to each account the sum shown for such account in the budget referenced herein above in Section 2. The appropriations provided for herein constitute the maximum amounts authorized for obligation and expenditure to finance the operations of the City of Santa Clarita Redevelopment Agency, and the Executive Director is authorized and empowered to expend such appropriations for said purpose. Additional appropriations shall be made only by official action of the Redevelopment Agency Board. SECTION 4. The Executive Director may approve any unused appropriations at the end of Fiscal Year 2009-10 for capital projects, special projects, and grant programs which shall be carried forward and become part of the budget referenced herein above in Section 2. SECTION 5. All purchase order commitments outstanding.on June 30, 2010, are hereby continued and will become a part of the budget referenced herein above in Section 2. 3G SECTION 6. The adopted budget for the Fiscal Year, commencing July 1, 2009 and ending June 30, 2010, shall be amended to incorporate the budget adjustments detailed in Exhibit A and the budget transfers detailed in Exhibit B. SECTION 7. The Executive Director is hereby authorized to incur obligations, enter into contracts, and/or issue purchase orders, for not to exceed Fifty Thousand Dollars ($50,000) each without prior approval of the Agency, provided that such are consistent with the budget adopted herein. SECTION 8. That the Agency hereby finds and determines: (a) That the expenditures authorized by this budget and the appropriations pursuant thereto are from tax allocation proceeds as specified in Subdivision B of Section 33670 of California Health & Safety Code or are proceeds of bonds which are secured solely by such tax allocation proceeds; and (b) That all of the expenditures and appropriations pursuant to the budget are for redevelopment activities consistent with California Health & Safety Code Section 33678 in that they are for carrying out the Newhall Redevelopment Project in accordance with California Health & Safety Sections 33020 and 33021, and primarily benefit the project area included in the above Redevelopment Project; and (c) That none of the funds are to be used for the purposes of paying for employee or contractual services for the City of Santa Clarita or any other local government activities as defined in California Health & Safety Code Sections 33020 and 33021 and the powers established in Community Redevelopment Law; and (d) That all of the planning and administrative. expenditures and appropriations pursuant to the budget to be paid from the Low and Moderate Housing Fund for each Redevelopment Project are consistent with California Health and Safety Code Section 33334.3 in that they are necessary for the production, improvement, or preservation of low and moderate -income housing and are not disproportionate to the amounts budgeted for the costs or production, improvement, or preservations of that housing. SECTION 9. That the Secretary shall certify to the adoption of this Resolution PASSED, APPROVED, AND ADOPTED this 22nd day of June 2010 CHAIR ATTEST: 5� SECRETARY STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA I, Sarah P. Gorman, Secretary of the City of Santa Clarita Redevelopment Agency, do hereby certify that the foregoing Resolution was duly adopted by the Redevelopment Agency of the City of Santa Clarita at a regular meeting thereof, held on the 22nd day of June 2010, by the following vote: AYES: AGENCY MEMBERS: NOES: AGENCY MEMBERS: ABSENT: AGENCY MEMBERS: SECRETARY 3a- STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) CERTIFICATION OF REDEVELOPMENT AGENCY RESOLUTION I, Sarah P. Gorman, Secretary of the City of Santa Clarita Redevelopment Agency, do hereby certify that this is a true and correct copy of the original Resolution 10- adopted by the Redevelopment Agency of the City of Santa Clarita, California on June 22, 2010, which is now on file in my office. Witness my hand and seal of the Redevelopment Agency of the City of Santa Clarita, California, this day of 2010. Secretary By Deputy Secretary 3-3 EXHIBIT A CITY OF SANTA CLARITA REDEVELOPMENT AGENCY Budget Adjustments (ALL FUNDS) Fiscal Year 2009-2010 - Expenditure Adjustments Budget Adjustments Description 700 12400 5511.100 Transit S (161,395) Correct budget 390 13400 5511.100 Redevelopment Agency 190,663 Correct budget 100 12100 5185.003 Finance 167,152 PY property taxes on Wagoner, Cemex and Norland 203 13325 5001.000 Code Enforcement Program (2,537) Adjust budget in the Community Preservation and Code Enforcement due to the 100 13200 5001.000 Community Preservation 8,888 change in personnel assigned to CDBG activities. 390 13400 5161.001 Redevelopment Agency 1,133,646 SERAF payment transfer to the County Auditor 100 19000 5011.008 Non -Departmental Admin (18,000) Adjust unemployment taxes -GF 262 15206 5011.008 Prop A Park Maintenance 8,000 Adjust unemployment taxes -Non GF 700 12400 5011.009 Transit 27,000 Adjust FY 09-10 retiree health insurance 100 11400 5011.001 Human Resources (485,482) Move FY 09-10 retiree health insurance 100 19003 5011.009 Retiree Health Benefits -GF 280,000 Adjust FY 09-10 retiree health insurance 230 14504 5011.009 Street Maintenance 24,000 Adjust FY 09-10 retiree health insurance 356 14600 501L009 Stomrwater 4,400 Adjust FY 09-10 retiree health insurance 301 14404 5201.010 B&T Eastside 304,682 Record B&T credit for the storm drain system on Sand Canyon Road 301 14404 5201.010 B&T Eastside 527,211 Record B&T credit for the roadway improvements to Sand Cyn and Solcdad Expenditure Total $ 2,008,228 3�: EXHIBIT B CITY OF SANTA CLARITA REDEVELOPMENT AGENCY Budget Transfers (ALL FUNDS) Fiscal Year 2009-2010 Dent Fund Division Acct. Account/Title Budget Transfer Description AS 100 12101 5001.001 Regular Employees $ (12,000) Move salary savings for OPEB valuation update AS 100 12101 5161.002 Professional Services 12,000 Move salary savings for OPEB valuation update AS 100 12300 5001.001 Regular Salary (7,800) Move salary savings to cover operating cost AS 100 12300 5101.001 Publications & Subscription 3,600 Move salary savings to cover operating cost AS 100 12300 5101.002 Membership & Dues 800 Move salary savings to cover operating cost AS 100 12300 5161.002 Professional Services 1,800 Move salary savings to cover operating cost AS 100 12300 5161.004 Advertsing 1,600 Move salary savings to cover operating cost CD 391 13401 5201.004 Land (2,326) Adjust CDBG/Low-Mod budget CD 203 13311 5001.000 Regular Employees 2,326 Adjust CDBG/Low-Mod budget CD 203 13329 5161.001 Contractual Services (8,664) Adjust CDBG/Low-Mod budget CD 203 13329 5001.000 Regular Employees 8,664 Adjust CDBG/Low-Mod budget CD 391 13401 5201.004 Land (9,541) Adjust CDBG/Low-Mod budget CD 391 13401 5001.000 Regular Employees 9,541 Adjust CDBG/Low-Mod budget CM 100 11301 5001.001 Regular Employees (10,000) Move salary savings for New Year's Eve Sponsorship Prgm CM 100 11301 5161.002 Professional Services 10,000 Move salary savings for New Year's Eve Sponsorship Prgm CM 100 11303 5161.002 Professional Services (1,781) Transfer of funds for Film office part time staff CM 100 11303 5002.000 Part -Time Salaries 1,781 Transfer of funds for Film office part time staff CM 259 15303 5001.000 Regular Employees (3,363) WIA grant budget adjustments CM 259 15303 5002.001 Part -Time Salaries 6,413 WIA grant budget adjustments CM 259 15303 5003.001 Overtime 3,500 WIA grant budget adjustments CM 259 15303 5121.001 Rents/Leases (10,000) WIA grant budget adjustments CM 259 15303 5161.001 Contractual Services 3,450 WIA grant budget adjustments PW 100 14300 5161.001 Contractual Services (10,000) Ongoing base budget adjustment PW 100 14100 5001.000 Regular Employees 10,000 Ongoing base budget adjustment PW 100 14400 5161.001 Contractual Services (10,000) Ongoing base budget adjustment PW 100 14400 5003.000 Overtime 10,000 Ongoing base budget adjustment ND 100-700 19500 5501.000 Transfers Out (9,004,152) Correct Transfers In/Out ND 100-700 100-700_ 4711.000 Transfers In 9,004,152 Correct Transfers In/Out Total $ 35 RESOLUTION NO. RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SANTA CLARITA ACCEPTING A LOAN FROM THE CITY OF SANTA CLARITA DEVELOPER FEE FUND, AUTHORIZING AND APPROVING THE EXECUTION OF A PROMISSORY NOTE RELATED THERETO IN THE AMOUNT OF $2,309,886 WHEREAS, the Redevelopment Agency of the City of Santa Clarita (the "Agency") is authorized pursuant to the Community Redevelopment Law, being Part 1 of Division 24 (commencing with Section 33000) of the Health and Safety Code of the State of California (the "Law"), to incur indebtedness for the purpose of financing certain redevelopment activities within and/or of benefit to its Newhall Redevelopment Project Area (the "Project Area"); and WHEREAS, there are sufficient funds in the Developer Fee Fund (San Fernando Rd. Relinquishment Funds) to make a loan in the amount of $2,309,886 to the Agency; and WHEREAS, the funds will be used for completion of the Newhall Streetscape Phase I; and WHEREAS, the Board of the Agency, with the aid of its staff, has reviewed the documentation related to the issuance of the Promissory Note, in which documentation is on file with the Secretary of the Agency; J NOW, THEREFORE, THE AGENCY HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS: Section 1. The Agency hereby accepts the offer of a loan in the amount of $2,309,886, in accordance with the Law and pursuant to the terms and conditions of the Promissory Note by and between the Agency and the City. Section 2. The Agency hereby approves the Loan in substantially the form referred hereto as Exhibit A, together with such revisions, amendments and completions as shall be approved by the Chairperson, the Vice Chairperson, the Executive Director, the Treasurer or the Secretary of the Agency, or any designee of any of them (each, .an "Authorized Officer"), such approval to be conclusively evidenced by the execution and delivery thereof by an Authorized Officer. The date, maturity date, interest rate or rates, form and other terms of the Note shall be as provided in the Promissory Note, as finally executed. Section 3. Any one of the Authorized Officers is hereby authorized and directed, jointly and severally, to execute and deliver any and all documents and instruments and to do and cause to be done any and all acts and things necessary or proper in order to consummate the execution of the Note and otherwise to effectuate the purposes of this Resolution and the transactions contemplated hereby. Section 4. This Resolution shall take effect immediately upon its adoption. 3� PASSED AND ADOPTED by the Board of the Redevelopment Agency of the City of Santa Clarita, at a regular meeting held on the . day of June, 2010. ATTEST: SECRETARY 80194011.1 REDEVELOPMENT AGENCY OF THE CITY OF SANTA CLARITA 2 CHAIRPERSON 31 STATE OF CALIFORNIA ) ) ss COUNTY OF LOS ANGELES ) I, , Secretary of the Redevelopment Agency of the City of Santa Clarita, DO HEREBY CERTIFY that the foregoing Resolution was duly adopted at a regular meeting of said Board held on the day of June, 2010, by the following vote to wit: AYES: Board Members: NOES: Board Members: ABSENT: Board Members: SECRETARY 80194011.1 3g- EXHIBIT A 2010 PROMISSORY NOTE (CITY) Santa Clarita, California $2,309,886 Principal Amount Dated: , 2010 Maturity Date: June 1, 2043 A. The REVELOPMENT AGENCY OF THE CITY OF SANTA CLARITA (the "Borrower"), and the CITY OF SANTA CLARITA ("Lender"), have entered into that certain Loan Agreement dated as of June 22, 2010 ("Note"). This Note is made pursuant to, entitled to the benefits of, and referred to as the "2010 Note". B. Pursuant to the Note, Lender has agreed to make a new loan to Borrower for certain outstanding obligations of Borrower, subject to the terms thereof. To induce Lender to make such new loan, Borrower has agreed, among other things to execute this Note. NOW, THEREFORE, in consideration of the foregoing, Borrower hereby agrees as follows: 80194011.1 Principal. The Borrower promises to pay to the order of the Lender at 23920 Valencia Boulevard, Santa Clarita, California 91355, or at such other place as Lender may from time to time designate in writing or to the assignee of Lender, the principal sum of Two Million Three Hundred -Nine Thousand -Eight Hundred -Eighty -Six Dollars ($2,309,886) ("Principal"), with interest, as set forth in this Note. Interest. Commencing on the date of this Note first written above, the principal amount of this Note shall bear an interest rate equivalent to the yield of the average monthly investment portfolio of the City. Repayment Terms. a. Borrower shall make payments to the Lender as provided in this Section 3. This Note shall mature on June 1, 2043 (the "Maturity Date"). All payments of outstanding principal and accrued interest on this Note are due on the Maturity Date. b. In accordance with the Note, Borrower shall have the right to make payments on this Note on any date. Any payments received by the Lender pursuant to the terms hereof shall be applied first to sums, other than principal and interest, due the Lender pursuant to this Note, next to the payment of all interest accrued to the date of such payment, and the balance, if any, to the payment of principal. ►1 39 Consistent with the proper and orderly implementation of the Redevelopment Plan for the Newhall Redevelopment Project (the "Project Area"), all payments made by Borrower pursuant to this Note shall be made from legally available funds of the Project Area. d. Borrower's obligation to make any payment to Lender shall not be construed as a "pledge" of property tax revenue for the purposes of Section 33671.5 of the California Community Redevelopment Law (Health & Safety Code Section 33000 et seg.). The indebtedness of the Borrower created by this Note and any future notes under shall be subordinate to the Borrower's existing indebtedness and bond issuance(s) and the refunding or refinancing thereof, and any future bonds and all other future indebtedness the Borrower may issue and/or incur. Indebtedness includes any indebtedness incurred by the Borrower for bonds, notes, interim certificates, debentures, certificates of participation, loans, statutory passthrough payments or other obligations issued by the Borrower, other than this Note. 4. Prepayment. Borrower may refinance or prepay the outstanding indebtedness under this Note, in whole or in part, together with any accrued but unpaid interest and other sums owed to the Lender under this Note, at any time and from time to time, without penalty. Lawful Money. All sums due and owing under this Note are payable in lawful money of the United States of America. 6. Event of Default. a. Upon the failure of Borrower to perform or observe any term or provision of this Note, then the Lender may exercise its rights or remedies hereunder. b. Subject to the provisions of Section 7 and 15 hereof, the occurrence of any of the following shall be deemed to be an event of default ("Event of Default) hereunder: (1) Failure by Borrower to make any payments provided for herein; or (2) Failure by Borrower to perform any covenant or agreement in this Note. 7. Notice of Default. Subject to the extensions of time set forth in Section 15, and subject to the further provisions of this Section 7, failure or delay by Borrower to perform any material term or provision of this Note constitutes a default under this Note. Any failures or delays by Lender in asserting any of its rights and remedies as to any default shall not operate as a waiver of any default or of any such rights or remedies. Delays by Lender in asserting any of its rights and remedies shall not deprive Lender of its right to institute and maintain any actions or proceedings which it may deem necessary to protect, assert, or enforce any such rights or remedies. 80194011.1 L%0 b. Upon any default described in this Section 7, Lender shall deliver written notice to Borrower ("Notice of Default"), which notice shall specify the nature of the default. If the default is not cured within ten (10) days after receipt of the Notice of Default if an obligation to pay money, or within thirty (30) days after receipt of the Notice of Default otherwise, or if such default (other than the payment of money) is of a type which is not capable of being cured within thirty (30) days after receipt of the Notice of Default (or if commencement of a cure cannot reasonably begin within thirty (30) days, then within such reasonable period of time as Lender may allow to commence to cure the default) and is not cured promptly in a continuous and diligent manner within a reasonable period of time after commencement, Lender shall be entitled to exercise any and all rights or remedies which may be available at law or in equity. Any and all rights or remedies available to Lender shall be cumulative, not alternative. Any notice of default that is transmitted by electronic facsimile transmission followed by delivery of a "hard" copy shall be deemed delivered upon its transmission; any notice of default that is personally delivered (including by means of professional messenger service, courier service such as United Parcel Service or Federal Express, or by U.S. Postal Service), shall be deemed received on the documented date of receipt by Borrower, or two (2) days after deposit of such notice in the United States mail, postage prepaid, return receipt requested. Any notice to any party shall be addressed to the party as follows: Lender: City of Santa Clarita 23920 Valencia Boulevard, Suite 295 Santa Clarita, CA 91355 Attn: Deputy City Manager Borrower: Redevelopment Agency of the City of Santa Clarita 23920 Valencia Boulevard, Suite 300 Santa Clarita, CA 91355 Attn: Treasurer Remedies. Upon the occurrence of an Event of Default, the giving of notice and the expiration of any applicable cure period therefore, Lender may declare all sums evidenced hereby immediately due and payable by delivery to the Borrower of a written declaration of default and demand for payment. 10. Waiver. Borrower hereby waives diligence, presentment, protest and demand, notice of protest, dishonor and nonpayment of this Note, and expressly agrees that, without in any way affecting the liability of Borrower hereunder, Lender may extend any maturity date or the time for payment of any installment due hereunder, accept additional security, release any party liable hereunder and release any security now or hereafter securing this Note. Borrower further waives, to the full extent permitted by law, the right to plead any and all statutes of limitations as a defense to any demand on this Note, or on any deed of trust, security agreement, guaranty or other agreement now or hereafter securing this Note. 80194011.1 V/ 11. Attorneys' )Fees. In the event of any dispute, legal proceeding, foreclosure or other enforcement action, reference or arbitration between the parties arising out of or relating to this Note or its breach, the prevailing party shall be entitled to recover from the nonprevailing party all fees, costs and expenses, including but not limited to attorneys' and expert witness fees, incurred in connection with such dispute, legal proceeding, foreclosure or other enforcement action, reference or arbitration, with any counterclaims or crosscomplaints, with any appeals, and with any proceeding to establish and recover such costs and expenses, in such amount as the court deems reasonable. 12. Severability. Every provision in this Note is intended to be severable. In the event any term or provision hereof is declared by a court of competent jurisdiction to be illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the balance of the terms and provisions hereof, which terms and provisions shall remain binding and enforceable. 13. Interest Rate Limitation. It is the intent of the Borrower and Lender in the execution of this Note and all other instruments securing this Note that the loan evidenced hereby be exempt from the restrictions of the usury laws of the State of California. The Lender and Borrower stipulate and agree that none of the terms and provisions contained herein or in any of the loan instruments shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the State of California. In such event, if the Lender shall collect monies which are deemed to constitute interest, which would otherwise increase the effective interest rate on this Note to a rate in excess of such maximum rate shall, at the option of the Lender, be credited to the payment of the sums hereunder or returned to Borrower. 14. Number and Gender. In this Note, the singular shall include the plural and the masculine shall include the feminine and neuter gender, and vice versa, if the context so requires. 15. Enforced Delay. For purposes of any provision of this Note, no party, nor any successors or assign of any party, shall be considered in breach of, or default in, its obligations under this Note as a result of the enforced delay in the performance of such obligations due to causes beyond such party's reasonable control, including, without limitation, failure of governmental agencies to act or to issue necessary permits or licenses, acts of God, acts of the public enemy, acts of the State or Federal governments, acts of any other party (including, but not limited to, delays in performing such other party's obligations pursuant to this Note), fires, floods, epidemics, quarantine restrictions, strikes, labor disputes, freight embargoes, inability to obtain materials or supplies or unusually severe weather or delays of contractors and subcontractors due to such causes; it being the purpose and intent of this provision that in the event of the occurrence of any such enforced delay, the time or times for performance of the obligations of such party shall be extended for the period of the enforced delay. 16. Nonrecourse Obligation. Notwithstanding anything contained to the contrary in this Note, this Note shall be payable by Borrower without personal liability of the Borrower, or any officer, director, agent, attorney, servant or employee of Borrower, and the Note 8019401 1.1 7 holder shall have no recourse for such payment with interest except against the Property against which this Note is secured. IN WITNESS WHEREOF, Borrower has executed this Note as of the day and year set forth above. Attest: REDEVELOPMENT AGENCY OF THE CITY OF SANTA CLARITA By: Sarah Gorman Kenneth R. Pulskamp Secretary Executive Director 80194011.1 8 y3