TITLE
Recommendation to adopt resolutions making certain findings regarding certain public improvements to Drake Park and the Pacific Electric
Right-of-Way using Central Long Beach Redevelopment Project Area Funds; and
Approve the expenditure of 2005 Redevelopment Agency revenue bond proceeds in the amount of $4,300,000 to be used for the expansion of Drake Park at Loma Vista Avenue and 12th Street, and the Pacific Electric Right-of-Way between Martin Luther King Boulevard and Walnut Avenue in the Central Long Beach Redevelopment Project Area.
(Districts 1,6)
DISCUSSION
On January 18, 2005, the City Council adopted a resolution authorizing the issuance of
revenue bonds in the amount of $199,982,000. Additionally, the City Council approved
a motion requiring that expenditures of bond proceeds for specific projects be brought
before the City Council for approval.
The Central Long Beach Strategic Guide for Development (Strategic Guide) has
identified specific projects within the Central Long Beach Redevelopment Project Area
(Central) that will serve as catalysts for neighborhood revitalization. One of the major
. priorities identified by the community is the development of open space in underserved
neighborhoods within the Project Area.
Though the Strategic Guide identifies areas for new park development, staff has
implemented a strategy to purchase land to expand existing parks in order to address
the immediate need. A total of $4,300,000 of Central Long Beach Project Area bond
proceeds is required to leverage $14,170,000 from other funding sources to support the
following two open space projects:
Drake ParWCesar Chavez Park Greenbelt Expansion (District 1 ) - ($2.500.000)
The Drake ParWCesar Chavez Park Greenbelt Expansion is a proposed open space
development of almost 26 acres linking Drake and Chavez parks along the Los Angeles
River (Exhibit A). The Department of Parks, Recreation and Marine (Parks) has
obtained $9,900,000 from the State of California and Los Angeles County Open Space
District grants and $2,230,000 through a State of California grant, but lacks $2,500,000
of critical funding to complete the acquisition.
Pacific Electric Riqht-of-Way (District 6) - ($1.800,000)
In 2001, the City obtained a $2,040,000 grant from the Metropolitan Transportation
Authority (MTA) to purchase the central sections of the Pacific Electric Right-of-way
between Walnut Avenue and Martin Luther King Jr. Boulevard (Exhibit 6). The
acquisition price of $? ,790,860.50 has been negotiated and the property owner wishes
to open escrow for the property in June 2005, requiring $1,800,000 to complete the
acquisition.
The Long Beach Redevelopment Agency Board approved a recommendation on June
13, 2005, to utilize Central Long Beach Project Area bond proceeds to support the two
proposed land acquisitions.
California Redevelopment Law provides that the Redevelopment Agency may, with the
consent of the City Council, pay for public improvements, which are publicly-owned
either within or outside of a redevelopment project area, if the City Council determines
all of the following:
That the construction of such public improvements are of benefit to the
redevelopment project area or the immediate neighborhood in which the public
improvement project is located;
That no other reasonable means of financing the public improvements are
available to the community; and
That the payment of Redevelopment Agency funds for the construction of the
public improvements will assist in the elimination of one or more blighting
conditions within the Project Area.
This letter was reviewed by Assistant City Attorney Heather A. Mahood on June 6,2005
and Budget Management Officer David Wodynski on June 2,2005
TIMING CONSIDERATIONS
City Council action is requested on June 21, 2005, in order to initiate the transactions.
FISCAL IMPACT
The funding source for these purchases is redevelopment bond proceeds. Funding to
make necessary improvements and provide future staffing and maintenance has not
been identified.
SUGGESTED ACTION
Approve recommendation.
BODY
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF LONG BEACH MAKING CERTAIN FINDINGS
REGARDING THE ACQUISITION OF CERTAIN
PROPERTY WITH REDEVELOPMENT FUNDS (DRAKE/
CHAVEZ GREEN BELT PROJECT)
Respectfully Submitted,
[Respectfully Submitted,]