Loading...
CIC Resolution 83-4ALAMEDA COMMUNITY IMPROVEMENT COMMISSION RESOLUTION NO. 83-4 APPROVING INTERIM BUDGET FROM JULY 1, 1982 THROUGH JUNE 30, 1983 AND APPROVING A LOAN FROM THE CITY OF ALAMEDA TO FINANCE COMMISSION ACTIVITIES AND AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE AGREE- MENT TO REPAY FUNDS TO THE CITY OF ALAMEDA WHEREAS, to date, all costs incurred in the formulation -of -- the Alameda Community Improvement Commission and the planning and related activities in connection with the development of a Com- munity Improvement Plan, have been borne by the City of Alameda and interested property owners; and WHEREAS, it has been anticipated that the Community Improve- ment Commission would repay to the City of Alameda all such funds incurred for community improvement purposes out of tax-increment revenues generated within any Alameda Community Improvement Pro- ject Areas to be formed; and WHEREAS, Commission staff has prepared a proposed interim budget attached hereto as Exhibit "A" and by this reference in- corporated herein; and WHEREAS, said budget provides for $110,000 to be expended by the Commission in the implementation of Alameda's community im- provement efforts; and WHEREAS, the City of Alameda by Resolution No. 10036 has agreed to loan to the Community Improvement Commission $110,000 to be expended pursuant to the proposed interim budget as well as to continue to supply staff and administrative expenses to the Community Improvement Commission; and WHEREAS, said loan and all other expenses incurred by the City of Alameda are made to the Community Improvement Commission at 12% interest. NOW, THERFORE, BE IT RESOLVED that the Commission's interim budget from July 1, 1982 through June 30, 1983 is hereby approved; and BE IT FURTHER RESOLVED that the loan of $110,000 from the City of Alameda is hereby accepted; and BE IT FURTHER RESOLVED that the Executive Director is hereby authorized to enter into an agreement to repay funds, a copy of which is attached hereto and marked Exhibit "B", on the above- referenced loan as well as to repay the City for all costs in- curred or to be incurred by the City for community improvement purposes solely out of tax-increment revenues available to the Commission within the Alameda Community Improvement Project pur- suant to Health and Safety Code Section 33670 et seq. EXHIBIT A ALAMEDA COMMUNITY IMPROVEMENT COMMISSION INTERIM BUDGET JULY 1, 1982 THROUGH JUNE 30, 1983 The following constitutes the interim budget of the Alameda Community Improvement Commission from July 1, 1982 through and including June 30, 1983. The total interim budget is $110,000 as per an advance from the City of Alameda, which shall be repaid to the City from tax-increment revenues. TOTAL BUDGET: JULY 1, 1982 to JUNE 30, 1983 $110,000 Consultant Fees Piedmont Associates $ 45,000 Engineering 3,000 Financial Services County of Alameda $ 5,000 Staff Costs $ 30,000 Legal Services $ 25,000 Miscellaneous Costs such as stationery, mailing, publication costs, meeting expenses TOTAL $ 2,000 $110,000 The Budget shall be administered out of the Commission's administrative fund in accordance with the Commission's Bylaws and the applicable laws of the State of California. EXHIBIT B AGREEMENT TO REPAY FUNDS THIS IS A REPAYMENT AGREEMENT dated this day of , 19 , by and between the City of Alameda (herein- after called "City") and the Alameda Community Improvement Commission (hereinafter called "Commission"). RECITALS: 1. On August 3, 1982, the City duly adopted Ordinance No. 2103 establishing the Alameda Community Improvement Commission. 2. The Alameda Community Improvement Commission is vested with the responsibility for formulating and carrying out neces- sary community improvement projects within the City of Alameda. 3. To that end, the City of Alameda has expended and will continue to expend on behalf of the Commission at the special instance and request of the Commission, staff time, expenses, overhead, consultant costs and other related expenses in the formulation, coordination, administration and implementation of a Community Improvement Plan for the City of Alameda. 4. Said expenditures have been made in the anticipation that said costs would be repaid by the Commission out of tax- increment funds to be generated within the community improvement project area. 5. On , the City, by Resolution agreed to loan to the Commission $110 ,000 to defray some of the Commission's expenses over and above costs of the use of City Staff and City Facilities as reflected in the Commission's interim budget dated AGREED: 1. The Commission agrees to reimburse the City for all sums heretofore expended by the City in connection with the development, planning, adoption, administration and implementa- tion of the Alameda Community Improvement Plan including, but not limited to, all staff time and overhead costs, costs of use of City facilities, consulting fees and other related costs. Said debt shall bear 12% interest and shall be paid to City by Commis- sion in the manner provided in Section 4 below. 2. The Commission agrees to reimburse the City for all future costs incurred by the City in furtherance of the Alameda Community Improvement Project. Said future costs shall include, but shall not be limited to, costs to the City for consulting services, staff time and other related administrative expense. Said debt shall bear 12% interest and shall be paid to the City by the Commission in the manner provided by Section 4 below. 3. Commission agrees to repay to the City $110,000 loaned to Commission by City pursuant to Resolution . Said debt shall bear no interest and shall be paid to the City by the Commission in the manner provided by Section 4 below. 4. Upon receipt by the Commission of a cost certification statement bearing the signature of a duly authorized agent of the City and describing in detail all or any part of the costs here- inabove enumerated that have been actually accrued and paid by the City, the Commission shall pay to the City as soon as reasonably possible the amount called for in the aforesaid state- ment, provided that if the Commission is unable to pay the amount so called for because of a deficiency in its accumulated tax- increment funds pursuant to Health and Safety Code Section 33670 et seq., the Commission shall pay a portion of said costs according to the tax-increment funds available. Those amounts remaining unpaid shall continue to be a debt of the Commission and shall be paid immediately to the City upon receipt by the Commission of sufficient tax-increment funds. It is understood by both the Commission and the City that such repayment shall be a debt of the Commission and shall be repaid solely from tax-increment funds generated within the Alameda Community Improvement Project Area, if any. It is under- stood that in the event such tax-increment revenues fail to yield enough revenue to repay this obligation, the Commission is under no obligation to the City to make such repayment from any further funds or resources it may acquire. 5. If any provision of this Repayment Contract, or the application thereof to any person, party, transaction or circum- stance, is held invalid, the remainder of the Contract, or the application of such provision to other persons, parties, trans- actions or cirucmstances, shall not be affected thereby. IN WITNESS WHEREOF, the City Council of the City of Alameda by its Resolution No. has caused the name of said City to be affixed hereto by its Mayor, and the Community Improvement Commission of the City of Alameda by its Resolution 2 No. has caused the name of said Alameda Community Improvement Commission to be affixed hereto by its Executive Director, all as of the date hereinabove written. CITY OF ALAMEDA By MAYOR ALAMEDA COMMUNITY IMPROVEMENT COMMISSION By EXECUTIVE DIRECTOR 3 I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly adopted and passed by the Community Improvement Commission of the City of Alameda in a regular meeting assembled on the 3rd day of May, 1983, by the following vote to wit: AYES: Commissioners Diament, Gorman, Sherratt, Stone, and Chairman Corica - 5. NOES: None. ABSENT: None. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of said Commission this 4th day of May, 1983. Deen 1peeg'1 e, Secrtary Conununi ty Improvement Cori i ssi on Chuck 'Cornea, Chairman Community Improvement Commission