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HomeMy WebLinkAboutRESO 43941 ;, t. • •, ,. • WJMiL: ORIGINAL 11/10/70 50o RESOLUTION NO. 4394 A RESOLUTION OF PRELIMINARY APPROVAL OF ENGINEER'S REPORT UNIVERSITY AVENUE DISTRICT BRYANT STREET OFFSTREET PARKING PROJECT ASSESSMENT DISTRICT NO. 70-93 RESOLVED, by the Council of the City of Palo Alto, California, that WHEREAS, on the 19th day of October, 1970, said Council did adopt its Resolution No. 4385, A Resolution of Intention to "Levy Assessuents to Make Rental Payments and did refer the proposed acquisitions and improvements to the City Engineer, he being the off?cer having -charge.. and control cf the acquisiticns and construction of public improvements' in and for said City of the kind described therein and being a competent person employed by said City for that purpose, and did therein direst said City Engineer to make and file with the City Clerk of said City, report in Writing all, as -therein more particuia: r ly described, under and pursuant to the Palo Alto Municipal Code; WHEREAS, said City. Engineer has made -..emu filed with the -City Ole3 of said City a report in writing as called for in said Resolution of Intention and under and-- pursuant to said Code, which report has been presented totthis Council• for constde ti Cvune1-1 has and each and every part theftof, and finds that each every fart of said report is sufficient, and that ° said, report,-. nor any pert thereof re- quires or should be modified: in and respect;, NOW, TI E, IT IS ORDERED, as fa: 1. Tat the general plan of the' 'proposed acquisitions and imp •ove- rents, •'contained in said report, be, and it . is hereby, preliminarily approved and confirmed. 2. That the statement of the. rentals.or ate proposed to be made, the sources of funds.: therefor, and the magessment formula .e 141°46"4044 proposed to be applied, contained in said report, be, and each of them are hereby, preliminarily approved and confirmed. 3. /hat the Engineer's estimate of the cost of the proposed improvements for which rentals are proposed to be madeocontained in said report, be, and each of them are hereby, preliminarily approved and confirmed. 4. That the map showing the boundaries of the assessment district referred to and described in said Resolution of Intention, as Contained in said report, be, and it is hereby, preliminarily. approved and con- firmed. 5. That said 'report shall stand as the Engineer's report for the purposes of all subsequent proceedings bad_ pursuant to said Resolution of Intention. I hereby certify that the foregoing is .a fly true and , correel copy of a resolution duly passed,and adopted by the Council- of the City of Palo Altos California* at ariseeting thereof" Wield :on the 1041 day of November , 100, by `tom: t+c owing vote of the members thereof: AYES, and in favor thereto Gallagher,- Norton, :Wheatley NOES, Councils 'Comstock, Pearson ABSENT, Councilmen: Beahrs y0. CITY OF PALO ALTO UNIVERSITY AVENUE DISTRICT BRYANT STREET DISTRICT PARKING PROJECT ASSESSMENT DISTRICT NO. 70-93 ENGINEER'S REPORT 1. Boundary Map of District 2. General Plan and Location of Project 3. Estimate of Cost 4. Proposed Payments and Source?,`of Funds H. M. WITBECK CITY ENGINEER NOVEMBER 12, 1970 Department of Public Works HONORABLE CITY COUNCIL Palo Alto, California University Avenue District, Bryant Street Offstreet Parking Prject No. 70-93 Members of the Council: The following information and attachments comprise the Engineer's Report directed by City Council Resolution No. 4385, "A Resolution of Intention to Levy Assessments to Make Rental Payments." 1. Boundary Map of District Attached as Exhibit A are Sheets 1 and 2 of Revision No. 1 of Drawing No. 17068, "Proposed Boundaries of University Avenue District, Bryant Street Offstreet Parking Project Assessment District - Project No. 70-93." 2. General Plan and Location of Project Attached as Exhibit B are the following preliminary drawings for the project: Sheet 1 Sheet 2 Sheet Alt. Sheet 4 3. Estimate of Cost Site Plan Elevation - Section Alternate Traffic Pattern Typical Floor Plan The proposed "Agreement for Accomplishment of the Bryant Street Project", among the City, the City :.irking Authority and University Park Development Corporation, provides for the Parking Authority's purchase of the parking project for the price of $3,140,000. The Park- ing Authority proposes to issue bonds totaling $3,540,000 to finance the purchase, legal fees, financing costs and the incidental expenses of the assessment proceedings. The City will contribute toward the cast and expenses of the acquisition the amount of $108, 350, representing that portion of the value of the proposed garage site now occupied by off-reet parking spaces financed by the assessment district identified as "University Avenue District Offstreet Parking Project No. 52-14. " Said contribution shall be payable solely from the proceeds of sale of the project site. • University Avenue District Br ant Street Offatreet Par Pro ect No. 70 - Page 2 a.- Proposed Payments and Sources of Funds The proposed payments, sources of funds and assessment formula are defined in Resolution No. 4385, Sections 13 and 14 as follows: •13. "The rentals proposed to be paid by the City to the Authority- will be in an amount clearly sufficient to make payments of princi- pal and interest on said bonds as they fall due, together with any additional rent payable under the proposed lease (all estimated at an average annual rental of #285,000) , ' and the formula proposed to be applied in the levy of said :annual Paseasments is as follows: a An annual assessment against taxable lands and Improvements within the boundaries of the assessment district in the ratio of adjusted Square -footage of floor areas of non-residential structures (other than those completely 'meant on the lien date), as provided_ in Bond Plan 0, Section 13.16.150 of Title 13 Of said Code, at a rate of not to exceed five cents (0.05) per_ • adjusted -square foot per year. Reepec b) In the event that thejormeeds of an assessment levied 'At. t n osaid - maximum rite -in any year are insufficient to raise the .; amount -or monerneeesearY to ,be raised by assessments to Make said rantei payments in said, year, thebalance shall be raise by an additional au a nt on all taxable lands:` (exclusive' Of improvement0Alith$0 eeeeeeecct diitarict, in the ratio of their asses valuitiOn. as said' valuation appears on' the Assessor' s., roll for the Wit. seal Year, all -ea vided: ' said .iliendP . e) AnY rental ark Project ,fit- abys m pin* 0 the�., on licnrestor9 , purchase is rat the ft, aosessimit disttlet 100s - said ;: the l*iant Street Amt. for .Ac�et ved by Council ty, as pert ' the oiects' solely from p es provided in ctieet:.: 14. "Al. of said werk shill be ,de s, �iaitia Made and bends issued as t in dpsti n 13,12;680 ,:of nut, 33 of 10114,Cede; annual eaPeeellenta to Mike said rental per$" sha.l be levied a_s herein provided pursuant Wield Ceetion 13.12,080, 'and Bectiape 13.12.040 and .12.050 Of-Tit10,13 of daid: . 1 as to for maintenance and, . OpermtIajof said aogistt aria - le a to may else' 1c a* provided in : subdivis " said Sectie 13.12.05(. submittedi H. K. WI C . City RngIne►er Attachments ct- 91444- x • V • /;' J0 0 • 4 0 • • 4 37.5 d • /00 43 430 I/C 19.3 • s K NJ 60 30 0 50 ' 1;1 /25 F-, 46 47 4H 4:i 44'r • �Fs r 671 od�'n� /25 • , h 27 • ti1 I /26.33 U7 'r - IN! 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Z /6, slim a f f a • L OCII T!: W D :YLEY S I. 5T. 1 T I 1 N /50 /50 50 'ry f 124 50 I-' 4 X50 50 !/ sv 50 7 50 kgs 9 1+'3 Cv� 50 GiL /1/',W si i WEL' / 0 t office of tr_e CLer.!s of t:.e City of Palo Alto Lis day of �; ryr.,; lr�-d l i Clerk of ti- e, City of -Palo Alto I .ereby certify teat tste within map snowing proposed c'ounaaries of Univrsit; Avenue District Bryant Street Offstreet Par::ir: , Project Assessment District, CYty of Palo Alto, County of Santa Clara, State of California, was approved by the City Council of the City of Palo Alto, at a re+,ular meeting thereof, i:eld-o.1 t e day of , 19 by its Resolution No. Clerk of the G`Yty' of Palo Alto Filed this day of _ 19 at the hour a - o'clock. 2 of Maps of Assessment. Districts at page - ira the office of the County Recorder in the 43anui Sartta Clara, State of Califo-.iia. County Retarder .at the Couaiy of- Santa Clara EXHIBIT A /-S-70 'i Chary d A-. n/lf , 6 DATE BY REVISION SEPT 2 9 et 70 * r ws�swst ON. .5. lue. 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