1994 AGN MAR 15 I28 - Laserfiche WebLink

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STAFF REPORT TO: Honorable Mayor and city council FROM: Hani W. Gabriel, Economic Development Directorw� DATE: March 8, 1994 RE: USE OF FUNDS FROM THE COOLEY RANCH REDEVELOPMENT PROJECT AREA TO FUND THE COSTS OF THE COLTON COMMUNITY CENTER Background The Agency along with the City Council has previously caused the adoption of the Cooley Ranch Redevelopment Project Area. The City has previously determined a need to cause the construction of a Colton Community Center to be located in the Colton Municipal Park and is seeking the use of tax increment revenues attributable to the Cooley Ranch Project Area to fund the costs related to the construction of said Community Center. Discussion In order for the Agency to be able to use tax increment revenues attributable to the Cooley Ranch Project Area to fund the project costs associated with the Community Center,, the City Council must make a finding in accordance with Health and Safety Code Section 33445 that: 1. The Community Center will be of benefit to the project area; 2. There are no other reasonable means of financing the Community Center which would be available to the Community; and 3. That the payment of the costs of the Community Center will assist in the elimination of one or more blighting conditions inside the project. The Agency has undertaken an analysis to determine that the Community Center will provide much needed recreational, educational,, and cultural services for residents of the Cooley Ranch Redevelopment Project Area as well as residents of the City generally. The Community Center may also provide job training and career advancement opportunities. The Cooley Ranch Redevelopment Project Area presently suffers from a lack of public infrastructure and specifically recreational and cultural facilities. As such the provision of the Community Center can help provide much needed recreational and cultural facilities for use by residents of the project area thereby eliminating blighting conditions within the project area. The attached Resolution authorizes use by the Agency ')t; ,,, �W' As'