CC Resolution 8697
RESOLUTION NO. 8697
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL
CONSENTING TO THE PROVISION OF PUBLIC IMPROVEMENTS BY
THE CITY OF CAMPBELL REDEVEWPMENT AGENCY IN CONNECTION WITH
THE 348 UNIT MULTI-FAMILY RESIDENTIAL DEVEWPMENT
TO BE CONSTRUcrED AT 500 RAILWAY AVE.
WHEREAS, the City of Campbell Redevelopment Agency (the "Agency") proposes to
enter into an Owner Participation Agreement (the "OPA") with Bay Apartment
Communities, Inc. ("BAC") for the construction of a 348 units multi-family residential
development (the "Development") at 500 Railway Ave.; and
WHEREAS, traffic analysis has indicated that a new traffic signal (the ''Traffic Signal")
is warranted at the intersection of Winchester Blvd. and Kennedy Ave. as a result of traffic
to be generated from the Development and the City of Campbell (the "City") has required
that it be installed as a condition of approval of the Development with BAC required to pay
one-half the cost; and
WHEREAS, the Agency proposes, as a part of the OP A, to pay for one-half the cost of
the traffic signal from Agency funds; and
WHEREAS, Health and Safety Code Section 33445 requires that the legislative body
consent to the provision of public improvements by its redevelopment agency and make
certain findings; and
WHEREAS, the area in which the Development is located is blighted with dilapidated
industrial buildings, nonconforming land uses, fragmented parcelization, substandard
infrastructure, and dangerous traffic conditions; and
WHEREAS, development of the Development, as made possible through the assistance
to be provided by the Agency pursuant to the terms of the OPA (including assistance in
paying for the Traffic Signal), will eliminate such blighting conditions and permit
revitalization of a major parcel within the Project Area; and
WHEREAS, the City has a limited capital improvement budget and it has prepared a
seven year Capital Improvement Program which prioritizes major improvements;
WHEREAS, The Capital Improvement Program does not have sufficient funds to enable
the City to pay the costs of the Traffic Signal, and there is no other foreseeable source of
City or other public funds available for such purpose; and
WHEREAS, based on analysis prepared by Agency staff and its economic consultant and
previously presented to the City Council (which analysis is incorporated in this Resolution
by this reference), it has been determined that the income to be generated by the
Development cannot support private debt and equity funds sufficient to pay all costs of
developing the Development, given the significant number of affordable very low income
units that will be provided in the Development pursuant to the OP A, and therefore, the
level of financial assistance to be provided by the Agency, including assistance in funding
the Traffic Signal, is necessary to overcome the shortfall in available private funding sources;
and
WHEREAS, the City Council has adopted Ordinance No. 1840, No. 1864, and No. 1877
to grant development approval for the Development, and in doing so, has made findings
consistent with and has approved that certain negative declarations prepared by the City's
Planning Department under File No. PD90-07 dated August 7, 1991 (the "Negative
Declaration"); and
WHEREAS, based on the analysis fully set forth in Recital D of the OP A, the City
Council has relied on the Negative Declaration and the findings made in connection with
the Negative Declaration as the environmental documentation under the California
Environmental Quality Act for consideration of the findings set forth in this Resolution.
NOW, THEREFORE, BE IT RESOLVED that based on the analysis summarized in the
above recitals and detailed in various staff reports regarding the Development, the City
Council hereby finds that the public improvement (Traffic Signal) is of benefit to the Project
Area and the immediate neighborhood by maintaining or improving traffic service levels and
safety and by facilitating the Development which will eliminate blight in the area; and
BE IT FURTHER RESOLVED that based on the analysis summarized in the above
recitals and detailed in various staff reports regarding the Development, the City Council
finds that the Agency's contribution to the cost of the Traffic Signal will assist in the
elimination of a number of blighting conditions in the Project Area including the elimination
of dilapidated buildings, nonconforming land uses, fragmented parcelization and substandard
infrastructure; and,
BE IT FURTHER RESOLVED that based on the analysis summarized in the above
recitals and detailed in various staff reports regarding the Development, the City Council
finds that no other reasonable means of financing the traffic signal is available to the City
because of its limited budget and projects of higher priority; and
BE IT FURTHER RESOLVED that based on the forgoing findings, the City Council
consents to the payment by the Agency of a portion of the cost of the Traffic Signal as
provided for in the OP A.
PASSED AND ADOPTED this 5th day of July, 1994, by the following roll call vote:
AYES:
Councilmembers:
Conant, Ashworth, Burr, Dougherty, Watson
NOES:
Councilmembers:
None
ABSTAIN:
Councilmembers:
None
ABSENT:
Councilmembers:
None
Jeanette Watson, ayor
A~~
Anne Bybee, City Clerk