HomeMy WebLinkAbout2015-06-29 Ordinance 5333DocuSign Envelope ID: A43FC20F-DF24-452F-A954-AE37887E7364
Ordinance No. 5333
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO AMENDING THE
BUDGET FOR FISCAL YEAR 2015 IN THE CAPITAL IMPROVEMENT FUND AND THE
GENERAL FUND TO RECOGNIZE $2,880,000 IN TRANSFER DEVELOPMENT RIGHTS
REVENUE IN THE CAPITAL IMPROVEMENT FUND, REDUCE THE BUDGET
STABILIZATION RESERVE IN THE AMOUNT OF $1,000,000 IN THE GENERAL FUND
AND TRANSFER THAT AMOUNT TO THE CAPITAL IMRPOVEMENT FUND, AND
ESTABLISH A ROTH BUILDING REHABILITATION RESERVE IN THE AMOUNT OF
$3,880,000 IN THE CAPITAL IMPROVEMENT FUND.
The Council of the City of Palo Alto does ORDAIN as follows:
SECTION 1. The Council of the City of Palo Alto finds and determines as follows:
A. Pursuant to the provisions of Section 12 of Article Ill of the Charter of the City of
Palo Alto, the Council on June 16, 2014 did adopt a budget for fiscal year 2015; and
B. The Palo Alto History Museum (PAHM) proposed to restore, preserve, and
rehabilitate the City's Roth Building at 300 Homer Street as a Museum. PAHM's proposal was
accepted by the Council in April 2004; and
C. In the past ten years, PAHM has been utilizing various strategies and methods to
raise sufficient capital to renovate the Roth Building and to operate a historical museum. On
June 22, 2007, the City granted PAHM a two year Option to Lease which has since been
extended several times an currently expires on July 1, 2015; and
D. PAHM plans to continue its fund raising process and meet all the other remaining
option conditions in order to exercise the Option and enter into a long term lease with the City
of Palo Alto; and
E. As part of its development plan to begin work on the Building, the Palo Alto
Historical Museum (PAHM) has requested additional assistance to raise funding toward the cost
of historical rehabilitation and seismic work of the Roth building.
F. On December 15, 2015, City Council approved a one-time contribution of one
million ($1,000,000) toward the cost of historical rehabilitation and seismic work for City owned
Roth Building located at 300 Homer Avenue; and
G. On March 2, 2015, the City Council approved the designation of 300 Homer Street
known the Roth Building to be eligible as a "Sender Site" in the Transfer Development Rights
(TDRs) program and the sale release of 9,592 square feet of TDRs at the price of $200 per
square foot in the market in order to raise funds for the rehabilitation and seismic
improvement of the Roth Building; and
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H. City staff issued a request for bids to market the TORs on April 20, 2015 and bidding
closed on Tuesday, May 5th. The highest bid was for $300.25 per square foot resulting in the
total of $2,880,000 of proceeds from the sale of the TORs. The proceeds of the sale will be
deposited in the Roth Building Rehabilitation Reserve to be used toward the rehabilitation of
the Roth Building. The funds will be available when PAHM has fulfilled its fund raising goal for
the construction phase of the project from other potential sources; and
SECTION 2. Therefore, the General Fund Budget Stabilization Reserve is reduced by
One Million Dollars ($1,000,000) and One Million Dollars ($1,000,000) is transferred to the
Capital Improvement Fund.
SECTION 3. The Roth Building Rehabilitation Reserve in the amount of Three Million
Eight Hundred and Eighty Thousand Dollars ($3,880,000) is hereby established in the Capital
Improvement Fund funded with Two Million Eight Hundred and Eighty Thousand Dollars
($2,880,000) in Transfer Development Revenues and a transfer of One Million dollars
($1,000,000) from the General Fund.
SECTION 4. As provided in Section 2.04.330 of the Palo Alto Municipal Code, this
ordinance shall become effective upon adoption.
SECTION 5. As specified in Section 2.28.080(a) of the Palo Alto Municipal Code, a
two-thirds vote of the City Council is required to adopt this ordinance
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SECTION 6. The Council of the City of Palo Alto hereby finds that this is not a
project under the California Environmental Quality Act and, therefore, no environmental impact
assessment is necessary.
INTRODUCED AND PASSED: June 29, 2015
AYES: BERMAN, BURT, FILSETH, HOLMAN, KNISS, SCHARFF, SCHMID, WOLBACH
NOES:
ABSENT: DUBOIS
ABSTENTIONS:
NOT PARTICIPATING:
ATIEST: ~x-\~v avw/
City Clerk Mayor
APPROVED AS TO FORM: APPROVED:
QDocuSigned by: &·Lif-r
39E7298FB2064DB ...
Senior Assistant City Attorney City Manager
"DocuSigned by: L.:'/" p,~,.
B2ADF35ED7C5498 ...
Director of Administrative Services
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5879 so
Certificate Of Completion
Envelope Number: A43FC20FDF24452FA954AE37887E7364
Subject: Please DocuSign this document: BAO 5333 -PAHM Roth Reserve.pdf
Source Envelope:
Document Pages: 3
Certificate Pages: 5
AutoNav: Enabled
Envelopeld Stamping: Enabled
Record Tracking
Status: Original
7/6/2015 9:18:56 AM PT
Signer Events
Cara Silver
cara.silver@cityofpaloalto.org
Senior Assistant City Attorney
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 7/13/2015 12:42:46 PM PT
ID: 4f8a831 0-5a21-4379-90db-392f462dc8aa
Lalo Perez
Lalo. Perez@CityofPaloAito.org
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 7/13/2015 3:26:53 PM PT
I D: 263c37 c0-0ee4-4e61-a4e3-e 798ba69614d
James Keene
james.keene@cityofpaloalto.org
City Manager
City of Palo Alto
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 4/14/2015 5:40:07 PM PT
ID: 44fe333a-6a81-4cb7-b7d4-925473ac82e3
In Person Signer Events
Editor Delivery Events
Agent Delivery Events
Intermediary Delivery Events
Signatures: 3
Initials: 0
Holder: Kim Lunt
kimberly.lunt@cityofpaloalto.org
Signature
Using IP Address: 199.33.32.254
GDocuSigned by:
t.l• p,.,,.
B2ADF35ED7C5496 ...
Using IP Address: 199.33.32.254
Signed using mobile
QDocuSigned by: ~~2:t!
Using IP Address: 199.111.1.65
Signature
Status
Status
Status
Docu~
ii SICUIIIIJ
Status: Completed
Envelope Originator:
Kim Lunt
250 Hamilton Ave
Palo Alto , CA 94301
kimberly.lunt@cityofpaloalto.org
IP Address: 199.33.32.254
Location: DocuSign
Timestamp
Sent: 7/6/2015 9:21:05 AM PT
Viewed: 7/13/201512:42:46 PM PT
Signed: 7/13/201512:43:03 PM PT
Sent: 7/13/2015 12:43:05 PM PT
Viewed: 7/13/2015 3:26:53 PM PT
Signed: 7/13/2015 3:28:11 PM PT
Sent: 7/13/2015 3:28:13 PM PT
Viewed: 7/23/2015 11:29:28 AM PT
Signed: 7/23/2015 11:29:39 AM PT
Timestamp
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