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HomeMy WebLinkAboutAgenda - Agenda Packets - Regular Meeting 7/21/2005AGENDA REGULAR MEETING of the SAN JACINTO REDEVELOPMENT AGENCY of the CITY OF SAN JACINTO JULY 21, 2005 Immediately Following the Regular City Council Meeting San Jacinto Unified School District Board Room 2045 South San Jacinto Avenue, San Jacinto, California 1. ORGANIZATION 1.1 Call to Order 1.2 Roll Call 1.3 Special Presentation: 2. PUBLIC COMMENTS Now is the time for the public to address the Agency on any subject not listed on the agenda. Any person may address the Agency on any subject pertaining to Redevelopment Agency business not listed on the Agenda during this portion of the Meeting. A limitation of three (3) minutes shall be set for each person desiring to address the Agency Directors. 3. CONSENT CALENDAR The matters listed under Consent Calendar are considered routine and will be enacted by one motion by Agency Members in the form listed. There will be no separate discussion on these items prior to the motion unless members of the Redevelopment Agency, staff or the public requests a specified item be removed and/or discussed. Anyone wishing to discuss a consent calendar item should come forward upon invitation of the Agency Chairman; state their name, address and the consent calendar item number. Speakers should limit comments to three (3) minutes. 3.1 RDA Fiscal Consulting Services / Approve and Appropriate $20,000 from Unreserved, Undesignated, and San Jacinto RDA Debt Service Fund Balance / Finance Director 4. PUBLIC HEARING None scheduled Redevelopment Agency Agenda July 7, 2005 5. CITY DEPARTMENTS 5.1 Resolution No. / A Resolution of the Redevelopment Agency of the City of San Jacinto Approving and Adopting Rules and Regulations for Implementation of the California Relocation Assistance Law and Real Property Acquisition Guidelines / Approve and Adopt / 6. CHAIRPERSON / MEMBER REPORTS / DISCUSSIONS None 7. OPEN SESSION ANNOUNCEMENTS CLOSED SESSION 7.1 CONFERENCE WITH REAL PROPERTY NEGOTIATORS California Government Code Section 54956.8 Property + 4.9 acres vacant land located on south side of Seventh Street and east of Las Rosas — APNs 433-180-029, 433-180-031, 433-180-032, 433-180-034 Agency Negotiator: RDA Executive Director and City Attorney Negotiating Parties: Dan Horn Under Negotiation: Price and Terms of Payment 7.2 CONFERENCE WITH REAL PROPERTY NEGOTIATORS California Government Code 54956.8 Property: APNs 439-110-056, 439-110-058, 439-110-059, 439-110-060 Agency Negotiator: RDA Executive Director and City Attorney Negotiating Parties: Dan Horn Under Negotiation: Price and Terms of Payment 8. ADJOURNMENT It is the intention of the City of san Jacinto to comply with the Americans with Disabilities Act (ADA) in all respects. If, as an attendee or a participant at this meeting, or in meetings on a regular basis, you will need special assistance beyond what is normally provided, the city will attempt to accommodate you in every reasonable manner. Please contact City Hall at (951) 487-7330, at least 48-hours prior to the meeting to inform us of your particular needs and to determine if accommodation is feasible. If you challenge any action of the Redevelopment Agency Board in court, you may be limited to raising only those issues you or someone raised at the public hearing described in this notice, or in written correspondence delivered to the Redevelopment Agency (c/o Redevelopment Secretary) at, or prior t, the public hearing. I, Dorothy L. Chouinard, Secretary of the San Jacinto �iZecfevefopment 4 cy, do hereby certify that I caused to 6e posted the foregoing agenda the 1511 Day of-7u(y, 2005, as required by faw. RDA AGENDA ITEM 3.1 July 21, 2005 TO: The Honorable Board Members of the Redevelopment Agency FROM: Bernie Simon�inance Director SUBJECT: Appropriation of $20,000 for RDA Fiscal Consulting Services RECOMMENDATION: By motion and majority vote, approve and appropriate $20,000 from Unreserved, Undesignated, and San Jacinto RDA Debt Service Fund Balance to pay for RDA fiscal consulting services. BACKGROUND: Staff is requesting an appropriation of funds to continue the project of clearing up our RDA pass-throughs. Staff has been working on the pass through agreement review and analysis for a number of years. Substantial progress was made by way of the 2005 RDA Tax Allocation fiscal analysis report done by Felice Acosta of RSG in preparation for the bond issue. This solved quite a few issues but also opened up a number of new issues that need to be resolved. Staff would like to continue the work already done by RSG. Potentially, staff would like to do a long term projection of RDA tax increment and net revenues with the assistance of the consultants. JUSTIFICATION: Failure to administer and interpret pass -through agreements correctly could lead to substantial loss in RDA funds. Approvals City Manager: Finance Director: i Page 1 of 2 BUDGETARYIMPACT: An estimated cost of $20,000 to work on pass -through issues. Appropriation to RDA expenditure line item 096-1400-414-3090. ATTACHMENTS: RSG proposal Page 2 of 2 (ED RSG INTELLIGENT COMMUNITY DEVELOPMENT ROSENOW SPEVACEK GROUP INC. T 714 541 4585 309 WEST 4TH STREET F 714 541 1175 SANTA ANA, CALIFORNIA E INFO@WEBRSG.COM 92701-4502 WEBRSG.COM Via Hand Delivery July 7, 2005 Mr. Bernard Simon Finance Director CITY OF SAN JACINTO REDEVELOPMENT AGENCY 248 E Main Street San Jacinto, CA 92583 FISCAL AND REDEVELOPMENT CONSULTING SERVICES Dear Mr. Simon: Rosenow Spevacek Group, Inc. (RSG) has worked with the San Jacinto Redevelopment Agency on various redevelopment -related projects since 2000. Over the last few years, RSG has provide the Agency with implementation and housing plan preparation, real estate economic analysis, tax increment pass -through calculations and fiscal consultant services. In our most recent work as Fiscal Consultant we identified issues related to the County of Riverside's ("County") application of their pass though payments for the Amendment Area of the San Jacinto Redevelopment Project Area. Pursuant to our conversation regarding this issue, RSG is happy to submit this proposal to assist with the clarification of the pass through issue and negotiations with the County. RSG CONSULANT TEAM For this assignment RSG would designate Felise Acosta would as Principal -in -Charge of the contract. Ms. Acosta has over 30 years of experience in redevelopment planning and implementation, real estate financial analysis, housing and fiscal consulting. Other members of the Palm Desert consulting team would include Jose Ometeotl, Associate; and Fernando Cazares and Lynn Kelly Analysts. REDEVELOPMENT PLANNING REAL ESTATE ECONOMICS HOUSING FINANCING REAL ESTATE ACQUISITION ECONOMIC DEVELOPMENT Mr. Bernard Simon Finance Director SAN JACINTO REDEVELOPMENT AGENCY July 7, 2005 Page 2 SCOPE OF SERVICES PASS -THROUGH ANALYSIS AND CONSULTATIONS WITH COUNTY ♦ RSG would propose to address the problem at your direction by preparing a briefing memo on the issues discovered in the recent financing. ♦ We would then meet with you to discuss and determine strategy in dealing with the County. ♦ RSG would then to set up a meeting or meetings with the County's Auditor Controllers office to address the issue. Such services would be billed on a time and materials basis. No work would be commenced with out you written authorization to proceed. The following provides an expanded scope of services outlining our full services in Redevelopment Fiscal Consulting. PROJECT ACCOUNTING AND FINANCE Tax Increment Financings: The Agency has been implementing its programs with funds realized by prior bond issues. As revenue increases and funds are needed for additional implementation activities, RSG is available to provide fiscal consulting services needed for the issuance of tax increment securities. These services would include tax increment revenue projections based on current year assessed valuations, historical trends, building permits issued for in -progress projects, review of planned new development, and the effects of pass -through agreements. RSG is also available to provide financial advisory services, assist with preparation of Official Statements, and other issuance procedures. 2. Pass -Through Calculations: The Agency is required to make annual pass -through payments to taxing entities and various property owners/developers pursuant to the terms of certain agreements. RSG is available to calculate these payments on behalf of the Agency. 3. Disclosure Reports: RSG is available to assist the Agency with the preparation of ongoing disclosure reports for outstanding bond issues. 4. Finance Strategies: RSG has worked with the Agency in the past to determine the best use of the funds available. Because the Agency is involved in both public GARSG\Markeffiscal Consulfing\San Jadnto-ongoingfisca105.doc Mr. Bernard Simon Finance Director SAN JACINTO REDEVELOPMENT AGENCY July 7, 2005 Page 3 improvements and private developments, it is important that the tax exempt funds (which must be used for public projects) and other less restricted funds be used to their best end. RSG can advise the Agency regarding its best use of bond proceeds, housing funds, land/real estate proceeds, and tax increment funds. GARSGWarkeffiscal Consulting\San Jacinto-ongoingfisca105.doc Mr. Bernard Simon Finance Director SAN JACINTO REDEVELOPMENT AGENCY July 7, 2005 Page 4 FEES Our fees would be charged in accordance with the following rate schedule, and each invoice would detail the project and services provided. No work would commence without authorization from designated Agency staff. Principal/Director $175 Senior Associate $145 Associate/Acquisition Agent $125 Senior Analyst $100 Analyst $ 90 Research Assistant/Real Estate Technician $ 80 Word Processor $ 60 Clerical $ 50 Reimbursables Cost Plus 10% It is RSG's policy to not charge clients for mileage, parking, telephone/fax expense, postage and incidental copies. We do, however, charge for additional insured certificates, messenger services, overnight mail costs, and copies of reports, documents, notices, and support material in excess of five (5) copies. These costs are charged at actual expense plus a 10% surcharge. Thank you for the opportunity to submit this proposal. We welcome an opportunity to continue to work with the San Jacinto Redevelopment Agency. Sincerely, ROSI�NQW SPEVACEK G NC. elis Acosta Principal GARSG\Markeffiscal Consulting\San Jadnto-ongoingfisca105.doc