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HomeMy WebLinkAboutItem 6.3 ScarlettCt Moratorium CITY CLERK File # ~~[~~-~---~-~ AGENDA STATEMENT CITY COUNCIL MEETING DATE: AUGUST 6, 2002 SUBJECT: PUBLIC HEARING: Consideration of Urgency Ordinance in Scarlett Court Area Report Prepared by: Andy Byde, Senior Planner ATTACHMENTS: 1. Urgency Ordinance 2. ' Scarlett Court Area Map 3. Notice Sent to Tenants and Property Owners within the Scarlett Court Area 4. Letter from Property Owner 5. February 1, 2000 Agenda Statement regarding Redevelopment Feasibility Study with Attachments 6. June 18, 2002, Agenda Statement RECOMMENDATION: 1. Open Public Hearing 2. Receive Staff presentation; 3. Receive Public Testimony and Close Public Hearing; 4. Determine if ministerial and discretionary actions could negatively impact the outcome of the desired Specific Plan; and 5(A). If the scope and exceptions proposed in draft Ordinance (Attachment 1) are determined to be appropriate Staff recommends that the City Council waive the reading and adopt an Urgency Ordinance which will impose a moratorium on any ministerial and discretionary actions (subject to the exceptions mentioned below); or 5(B). If the scope and exceptions proposed by Staff are not appropriate than direct Staff to modify MoratOrium Ordinance; or 5(C). If the City CounCil determines that no negative impact will result on the anticipated Specific Plan, then take no additional action; and 6. Review the previous Redevelopment Study and provide Staff with appropriate direction. FINANCIAL STATEMENT: No financial impact COPIES TO: Property/Business Owners Project Planner ITEM NO. ~ G:\PA#\2002\Scarlett Court Sp\ccstaffreport 7-31 Scarlett Court. doc ~/~'~' DESCRIPTION: During the June 18th 2002, City Council meeting, the Council voted to initiate and define the Scarlett Court area Specific Plan and directed Staff to provide notification to the tenants and property owners within the Scarlett Court Area that the City Council is considering a moratorium for the area. On July 3, 2002, Staff sent out the notices to all known Tenants and Property Owners within the Specific Plan area. In addition, on July 5th, the Economic Development Director hand delivered the notices to all tenants that were open for business that day. Subsequent to the notices being sent, Staff received one letter of concern from the General Manager of E1 Monte RV (see Attachment 4), and has received several phone calls from tenants regarding the prospective moratorium. In addition, the Council directed Staff to review the Redevelopment feasibility Study, dated January 25, 2000. ISSUES Moratorium Staff is concerned, that without knowing the outcome of the Specific Plan study (which was authorized on June 18, 2002), which would include land use, economic analysis, and a circulation analysis; ministerial and discretionary actions, which modify the appearance or allow vacant buildings to be retenanted Could negatively impact the outcome of the desired Specific Plan. An example of a ministerial action negatively impacting the area would be a warehouse use leasin~ a vacant building and making no site or facility improvements. An example of a discretionary action impacting the area would be approval of a Conditional Use Permit and Site Development Review for a new building within the area without consideration of the Specific Plan. Such actions within the Area during the time that the City completes the Specific Plan could ultimately frustrate the City's long term efforts to ensure the area is properly developed as properties become suitable for reuse. If the City Council determines that a negative impact will result from ministerial and discretionary actions (as described above), the Council should adopt the attached interim ordinance (Attachment 1) which would impose a moratorium on any discretionary action including: site development review or conditional use permits; or ministerial actions including: building permits which modify the appearance or potential use of a building or a business license for a ne.w use or permit the resumption of the last use of a property that has been vacant for more than a year prior to the permit application. Staff proposes exceptions, which WOuld exempt all current discretionary projects that have been submitted including two Master Sign Programs for the new Nissan Dealer and Volkswagen Dealer (to date no building permits have been submitted within the area). Specifically, Staff proposes 3 exceptions to the moratorium on future ministerial and discretionary actions: (1) any discretionary action (and its associated building permit) submitted prior to today's date; (2) emergency repair work deemed necessary by the Building Official for the safety of the occupants; and (3) proposed new auto sales franchises. New auto sales franchises are being proposed from exemption for two reasons: (1) currently there is a high proportion of the existing auto dealers within the area; and (2) currently the M-1 zoning permits new and used auto dealers, subject to the Planning Commissisn approving a conditional use permit. The proposed urgency ordinance would temporarily modify the current zoning regulations and would require a conditional use permit to be approved by the City Council, instead of the Planning Commission during the moratorium period, for the new auto sales franchise uses. This modification would allow the City Council to evaluate a proposed new auto dealer and determine if it would be consistent with the Council's goals for the area. Applications for all permits would be accepted and processed during the moratorium period, as required by state law, but Would not be approved. Concern o_f Business regarding the MoratoriUm Several property and business owners have called and one has written with concerns regarding the proposed moratorium. Specifically, the concerns include: (1) How long the moratorium will be in effect; (2) Will the moratorium prohibit transfer of my existing business to subsequent purchasers; (3) Will the moratorium prohibit leasing existing vacant tenant space; and (4) Will the moratorium prohibit the new construction that I have planned for my business? To respond to these specific issues: (1) How long the moratorium will be in effect? The moratorium is anticipated to be in effect until the Specific Plan is completed in approximately a year and a half (State law allows the moratorium to be in effect for up to two years, maximum; (2) Will the moratorium prohibit transfer of my existing business to subsequent purchasers? The proposed text of the moratorium in Attachment 1 states that only building permits which modify the appearance or potential use of a building would be prohibited, therefore transferring the ownership of an existing use would not be prohibited; (3) Will the moratorium prohibit leasing existing vacant tenant space? Leasing existing vacant tenant space would not be prohibited as long as 2 conditions were met: (a) granting the new business license would not result in modification to the existing use of the space; (b) the existing space was not vacant longer than one-year prior to applying for the business license; and (4) Will the moratorium prohibit the new construction that I have planned for my business? The moratorium; as it is written, would prohibit new construction if it does not meet the three exceptions listed above. Moratorium Process The interim ordinance would take effect immediately if adopted by a four-fifths vote by the City Council. State law limits the initial term of the ordinance to 45 days. State law also requires the ordinance to include a finding that there is a current and immediate threat to the public health, safety or welfare, and that the approval of ministerial or discretionary actions in order to comply with the Zoning Ordinance would result in a threat to public health, safety or welfare. State law allows the City Council to extend the ordinance by 10 months and 15 days, and again by one year (for a total of two years), following a noticed public hearing. Any subsequent extension shall require a four-fifths vote for adoption. No more than two extensions may be adopted. Ten days prior to the expiration of an interim ordinance or any extension, the City Council shall issue a written report describing the measures taken to alleviate the condition, which led to the adoption of the ordinance. Should the City Council establish a moratorium through the adoption of this urgency ordinance, the above mentioned written report would be brought back to the Council on September 17, 2002. Environmental Review The proposed moratorium ordinance is not a "project" within the meaning of Section 15378 of the State CEQA Guidelines, because it has no potential for resulting in physical change in the environment, directly or ultimately; it prevents changes in the environment pending the completion of the contemplated Specific Plan. The proposed ordinance is categorically exempt from CEQA under section 15308 of the State CEQA Guidelines because it is a regulatory action taken by the City, in accordance with Government Code section 65858, to assure maintenance and protection of the environment pending completion of the contemplated Specific Plan. Redevelopment The City Council directed Staff at the June 18, 2002, meeting to review the conclusions from the Redevelopment Feasibility Study, (Attachment 5). The Redevelopment Feasibility Study (Study) was completed in January of 2000 by the consulting firm, Rosenow Spevacek Group (RSG), and was presented to the City Council in February of 2000. The Study evaluated 8 areas within the City, one of which was the Scarlett Drive area,(I-580 to Dublin Blvd./Dougherty Rd to Scarlett Dr.). The first step RSG used in evaluating the eight areas was determining whether the areas meet the required findings of physical and economic blight. Based on the conclusions of RSG (and as outlined in the Study) only the Scarlett Drive area met the State required feasibility findings of physical and economic blight. The next step used by RSG in determining whether the establishment of a project area for the Scarlett Court Area is appropriate, was evaluate the financial viability of this project area. To determine the financial viability it was necessary to complete the following: (1) determine the total cost necessary to set up the Redevelopment Agency; (2) estimate potential costs to consolidate properties (the fundamental function of the Agency to facilitate change); and (3) calculate the potential tax increment revenues from ultimate development within the Area. The total costs associated with setting up the Redevelopment Agency could average from $200,000 to $300,000. These costs are necessary to pay for legal counsel, environmental review, redevelopment document preparation and other tasks. RSG also noted that amount could double if the establishment of a project area was legally challenged. RSG estimated in 1999 that for the proposed Agency to participate in the redevelopment of approximately 10 properties within the Scarlett Court area (which would include land purchase, relocation, loss of goodwill, demolition, and etc.) would cost approximately $30.9 million (which would be required as an advance to the Agency from the City's General Fund). RSG also calculated that $15.7 million of the $30.9 million advance would be paid back by land sales (assuming the Agency resells the land for $16 per gross square foot). Most redevelopment activities are traditionally funded by tax increment revenues, which are revenues generated by increases in assessed values over the base year value. Redevelopment Agencies can incur debt, to fund redevelOpment activities (such as infrastructure improvements or property consolidation), based on the anticipated future stream of revenue produced by the tax increment. RSG calculated the potential tax increment revenue from the area by assuming that project development would occur similar to the current development pattern (i.e. not a significant land use change) would be approximately $15 million over a 45-year collection period (with a net present value of 4.2 million). However given the pass-through and set-aside requirements, the actual amount to the Agency would be reduced to $7.4- million over the 45-year period (with a net present value of $2.2 million). Accounting for the set up costs, administrative costs, land acquisitibns, housing set aside, and property tax pass through, over the 45-year life of the project area, the establishment of a project area and consolidation of properties would result in a required subsidy of in excess of $15 million (see table). Adoption and Administrative Costs $ (1,750,000) Required Advance from City's General Fund $ (30,932,789) Land Sale Proceeds $ 15,245,285 Gross Tax Increment $ 4,213,929 Pass Through to taxing entities $ (1,157,340) Housing Fund Set aside (20% of Tax Increment) $ (842,786) Net Agency Non Housing Revenue (-adoption/admin, pass through, set aside) $ 463,804 Required Subsidy $ (15,223, 700) all numbers are Net Present Value and assume a discount rate of 5% RSG concluded the establishment of a redevelopment agency would not generate sufficient tax increment revenues due to the small area and therefore would not.recommend establishing a redevelopment agency. Staff has contacted RSG regarding revisiting the Scarlett Court analysis to reevaluate the blight conditions and the financial feasibility given current market conditions, RSG estimated a proposal for that work would range from $5,000 to $10,000. If the City Council desires to reevaluate the establishing a project area or reevaluate the boundaries of the project area, Staff would request RSG to submit a new proposal for review and approval by the Council at a later date. RECOMMENDATION: (1) Open Public Hearing; (2) receive Staff presentation; (3) receive public testimony and close public hearing and determine if ministerial and discretionary actions could negatively impact the outcome of the desired Specific Plan; and 5(A) if the scope and exceptions proposed in draft Ordinance (Attachment 1) are determined to be appropriate Staff recommends that the City Council waive the reading and adopt, an Urgency Ordinance which will impose a moratorium on any ministerial and discretionary actions (subject to the exceptions mentioned above); or 5(B) if the scope and exceptions proposed by Staff are not appropriate than direct Staff to modify Moratorium Ordinance; or 5(C) if the City Council determines that no negative impact will result on the anticipated Specific Plan, then take no additional action; (6) review the previous Redevelopment Study and provide Staff with appropriate direction AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF DUBLIN AN URGENCY ORDINANCE MAKING FINDINGS AND ESTABLISHING A MORATORIUM ON THE ACCEPTANCE, PROCESSING AND APPROVAL OF APPLICATIONS AND PERMITS FOR DEVELOPMENT IN THE SCARLETT COURT AREA PENDING THE 'COMPLETION OF A SPECIFIC PLAN WHEREAS, the use or non-use of each parcel of real property in Scarlett Court, shown on Exhibit A hereto, and the manner of using those parcels, affects the value and potential development of other property in the surrounding area, also shown on Exhibit A hereto; and WHEREAS, unsightly or inappropriate land use on one parcel can discourage or prevent desired land uses in the surrounding area, negatively affecting the aesthetics of the City, decreasing the number of jobs and revenue for City services, frequently leading to the degradation of structures as failed businesses are not replaced, and increasing the likelihood that inconsistent and sub-optimal land uses will move into an area, further degrading it; and WHEREAS, Dublin Boulevard, a major thoroughfare, was recently improved to provide additional frontage to parcels along Scarlett Court; and WHEREAS, the Scarlett Court area has many large and underutilized parcels which have inadequate access and do not take advantage of the recent extension of Dublin Boulevard; and WHEREAS, the majority of the uses within the Scarlett Court area face inward and do not use their frontage onto Dublin Boulevard; and WHEREAS, several parcels within the Scarlett Court area have lot depths in excess of 1000 feet which renders many retail uses ineffective; and WHEREAS, Dolan's Lumber ceased operating ai 6365 Scarlett Court in approximately June, 2001; and WHEREAS, During the Goals and Objectives session for FisCal Year 02/03, the City Council requested Staff, as a high priority item, to initiate a Specific Plan for the Scarlett Court Area; and WHEREAS, on June 18, 2002, the City Council authorized the initiation of a Specific Plan for the Scarlett Court Area to assess the best uses for the properties in the Scarlett Court Area, how to encourage ' those uses to take advantage of their frontage on Dublin Boulevard, and how to encourage beneficial re- use of properties that are currently underutilized; and WHEREAS, a number of franchise car dealerships already exist in the Scarlett Court Area; and G:XPA#~2002\Scarlett Court Sp\Scarlett Court r~ritorium ord-revised7.24.doc Attachment 1 WHEREAS, the City Council believes that similar uses should be encouraged to develop in the Scarlett Court Area to improve the appearance of businesses in the area, provide jobs and revenue, and to take appropriate advantage of the properties in the Area fronting on Dublin Boulevard; and WHEREAS, the City Council has authorized the initiation of a Specific Plan study to determine the best means of accomplishing those goals for the development of the Scarlett Court Area; and WHEREAS, untimely changes of uses within the Area during the time that the City completes the Specific Plan could ultimately frustrate the City's long term efforts to ensure the area is properly developed as properties become suitable for reuse, either by allowing the initiation of uses incompatible with those recommended by the Specific Plan study or by directly preventing the use of properties as recommended in the study; and WHEREAS, based on the foregoing, the City Council finds that allowing development to continue to occur in a disorganized fashion poses a current and immediate threat to the public health, safety and welfare because it will likely cause land use incompatibilities; and WHEREAS, the City Council finds that the approval of additional subdivisions, use permits, variances, building permits, or any other applicable discretionary permit, except for building permits and discretionary permits submitted prior August 6, 2002, which would allow the modification of the properties within the Scarlett Court area, therefore would result in that threat to public health, safety and welfare. NOW THEREFORE, THE CITY COUNCIL ORDAINS AS FOLLOWS, ADOPTED AS AN INTERIM ORDINANCE UNDER THE PROVISIONS OF GOVERNMENT CODE SECTION 65858: 1) The City shall not approve any applications or permits for ministerial actions, including a business license for a new use, which would result in the modification of the existing use or the resumption of the last use of property that has been vacant longer than one year prior to applying for the business license. The City shall not approve any applications or permits for ministerial and discretionary actions including but not limited to site development review, subdivisions, use permits, rezonings, general plan amendments, variances, building permits which modify the appearance or potential use of a building, or any other applicable entitlement in the Scarlett Court area (shown on Exhibit A hereto), so long as this ordinance is in effect, excepting from the ordinance the following: (1) any discretionary action (and its associated building permit required to implement the approved action) submitted prior to August 6, 2002; (2) emergency repair work deemed necessary by the Building Official for the safety of the occupants; and (3) proposed new auto sales franchises, subject to the City Council approving a conditional use permit. The City shall, nevertheless, accept and process applications for such entitlements. 2) This ordinance is not a "project" within the meaning of Section 15378 of the State CEQA Guidelines, because it has no potential for resulting in physical change in the environment, directly or ultimately; it prevents changes in the environment pending the completion of the contemplated Specific Plan. This ordinance is categorically exempt from CEQA under section 15308 of the State CEQA Guidelines because it is a regulatory action taken by the City, in accordance with Government Code section 65858, to assure maintenance and protection of the environment pending completion of the 2 contemplated Specific Plan. 3) If any provision of this ordinance or the application thereof to any person or circumstance is held invalid, the remainder of the ordinance, including the application of such part or provision to other persons or circumstances shall not be affected thereby and shall continue in full force and effect. To this end, provisions of this ordinance are severable. The City Council hereby declares that it would have passed each section, subsection, subdivision, paragraph, sentence, claus, e, or phrase hereof irrespective of the fact that any one or more sections, subsections, subdivisions, paragraphs, sentences, clauses, or phrases be held unconstitutional, invalid, or unenforceable. 4) This ordinanCe shall become effective immediately upon adoption if adopted by at least four-fifths vote of the City Council and shall be in effect for forty-five days from the date of adoption unless extended by the City Council as provided for in Government Code section 65858. PASSED, APPROVED and ADOPTED this 6th day of August 2002. AYES: NOES: ABSENT: ABSTAIN: Mayor City Clerk Scarlett Court Area Map Zoning PD ~~ PD " ' 141t I~.U. ~ 0-2 Attachment 2~, .CITY OF DUBLIN 100 Civic Plaza, Dublin, California 94568 Website: http://www.ci.dublin.ca.us NOTICE OF PUBLIC MEETING The.Dublin City Council will hold a public meeting and consider the following: PROJECT DESCRIPTION: The City Council will consider adopting an urgency ordinance, which would place a temporary moratorium on ministerial and discretionary actions including: site development review, conditional use permits, building permits and/or new business license(s) for a new tenant. The City Council will also consider the scope and the exemptions of the proposed moratorium. On June 18, 2002, .the City Council authorized the initiation of a Specific Plan for the Scarlett Court Area to assess the best - uses for the properties in the Scadett Court Area. LOCATION: The proposed area consists of approximately 52 acres of land and is bounded on the west by Dougherty Road, the North by Dublin Blvd., the south by 1-580 right-of-way, and the east by the Iron Horse TraiJ right-of-way (see below) ENVIRONMENTAL REVIEW: This project is exempt from the provisions of the California Environmental Quality Act, (CEQA)and the State CEQA Guidelines under Section 15378. The City Council hearing on the project is tentatively scheduled for Tuesday, August 6, 2002 at 7:00 p.m. in the Civic Center Council Chambers, located at 100 Civic Plaza, Dublin. If you have any questions regarding this project, contact Andy. Byde, Senior Planner at the Bublin Planning Department or ~ali (925) 833-6610. . '..' " .... 3eri '7- ~lannin~ 191ana~er Dublin Blvd - ~ca Code (925) ' City M~agcr 833-6650 - City Council 833-6650 · Pcrso~el 833-6605 · Economic Development 833-6650 Finance 833-6640 · Public Works/Engineering 833-6630. P~ks A Community Services 833-6645 · Police 833-66?0 Planing/Code Snforccment 833-6610 · Building Inspection 833-6620 · Fire Prevention ~uraau 833-6606 El Monte RV 6301 Scadett Court Dublin, CA 94568 July 12, 2002 Andy Byde Senior Planner City of Dublin 100 Civic Plaza Dublin, CA 94568 Dear Mr. Byde: I am wdting in regards to the notice we received July 8, 2002, regarding the City Council's intentions of adopting an urgency ordinance, which would place a temporary moratorium on ministerial and discretionary action including: site development review, conditional use permits, building permits and/pr new business license(s). This is of particular concern for E1 Monte RV, located at 6301 Scarlett Court, Dublin, as we are in the process of submitting plans for a new 5400 sq ft commercial service building. The proposed building js to replace our 16,700 sq ft service building demolished by the City of Dublin for the widening of Dublin Boulevard last year. We have nearly completed the preliminary planning phase of the project as we have already completed our Architectural, Structural, and Soils Engineering reports. The new construction plans will be submitted to the City of Dublin, Plan Check within the next 30 days once our Waste Management Plan and Waste Reduction and Recycling Forms are completed. Construction of the proposed building would commence immediately fOllowing the City's approval of our building plans. I understand the City Council will consider the scope and the exemptions of the proposed moratorium on August 6, 2002, and trust that our proposed building would be exempt from the moratorium. Should the City Council have questions regarding our plans, would be available to address the council at the City Council meeting scheduled for August 6, 2002. Sincerely, Don Price El Monte RV - General Manager Cc: Dublin City Council ..,.,,,,.,,.-- ATTACHMENT. 6301 Scarlett Court, Dublin, CA 94568 USA (925) 803-0331 · 1-888-810-3410 · FAX: (925) 803-0778 Los Angeles · San Francisco · Las Vegas ° New York Vancouver Orlando ',. ~'~ CITY CLERK File # L._II/-/II o1-1 / II o l AGENDA STATEMENT CITY COUNCIL MEETING DATE: February 1, 2000 SUBJECT: Redevelopment Feasibility Study · Report Prepared by: Christopher L. Foss, · -, Economic Development Director ATTACHMENTS: 1. Redevelopment Feasibility Study dated January 25, 2000 RECOMMENDATION: ~ It is staffs recommendation that the City Council receive the report ,,.~ ~,/~ and take no further action. FINANCIAL STATEMENT: No fiscal impact. DESCRIPTION: The City Council has identified the preparation of a Redevelopment Feasibility Study as a high priority for the FY 1999-2000 Goals and Objectives. BACKGROUND: In 1945, the California Legislature enacted legislation, the California Redevelopment Act, which provided local governmental entities with the tools to redevelop urban areas that had fallen into disrepair both physically and economically, generally considered "blight." California Community Redevelopment Law, Health and Safety Code section 33000 et seq. ("Redevelopment Law") permits cities to adopt and implement redevelopment plans by providing the legal and financial tools to mitigate certain physical and economic blighting conditions. The legislation also required.that, before a legislative body (i.e. City Council) can pass an ordinance declaring the need for redevelopment, a redevelopment feasibility study must be undertaken to determine the degree ofblight, if any, that exists in the community. As part of the City of Dublin's FY 1999-2000 Goals and Objectives (D-4), staff was directed to engage a consultant to complete the necessary feasibility analysis. On October 5, 1999, the City Council approved a contract for $33,895 with the Rosenow Spevacek Group to perform said feasibility analysis. The contract called for RSG to study six defined areas: 1. Western Dublin BART Station (Golden Gate Drive south of Dublin Boulevard) 2. Dublin Place Shopping Center (Montgomery Wards/Target, etc.) 3. Village Parkway (between Dublin Boulevard and Amador Valley Boulevard) COPIES TO: ITEM NO. ~ H/cc-forms/agdastmt. doc .............. ATTACHMENT , 4. Donlon Square Center (Donlon and Dublin)* 5. Shamrock Village Shopping Center (northeaSt comer of San Ramon and Amador Valley) f 6. San Ramon Village Shopping Center (southeaSt comer of Alcosta and San Ramon Road) 7. Dublin Boulevard (Sierra Court to Dougherty Road)* 8. Scarlett Drive area (1-580 to Dublin Boulevard/Dougherty to Scarlett Court) (* added subsequent to discussion with City Staff) The Redevelopment Feasibility Analysis was designed to assess the legal and financial implications of formulating a redevelopment' project area inclusive of the eight areas defined above. The current California Redevelopment Law (California Redevelopment Law Reform Act- AB 1290 - adopted 1994) mandates that the feaSibility findings include both physical and economic blight (Health and Safety Code Section 33031)..Specifically, the law requires that conditions set forth in Section 33031 must be so prevalent and substantial as to cause a reduction of, or lack of, proper utilization of the area to the extent that it causes a serious physical and economic burden to the community. The law expects that the burden could not be reversed or corrected by private development, governmental action or both, without redevelopment. It is a far stronger burden of Pr0of of blight than was required prior to 1994. California Redevelopment Law (Section 33320.1) requires prospective redevelopment project areas to meet several criteria including urbanization and blight. The law requires that not less than 80% of the proposed project area be urbanized - the Dublin study areas meet .that criteria aS all 273 acres are urbanized aS they are all surrounded by developed prOperty on three sides. The law also requires that the project areaS must also be blighted, both physically and economically. Section 33031 of the law provides specific defmiti0ns. CaSe law has found that'the blight must predominate and impact the entire area to be considered legal. REpoRT FINDINGS: RSG did a preliminary study of potential blighting Conditions in the eight identified subareas in Dublin. It should be noted that in order to'prepare and adopt a redevelopment plan involving a study area, blighting conditions would need to be further documented, along with a more extensive analysis of their burden on the community and the inability of the private sector or the City to alleviate these conditions without redevelopment RSG began the study in November, 1999 with a windshield survey of the designated areaS in which RSG staff noted physical blighting conditions and property vacancies. RSG also studied ownership and parcel configurations from the Alameda County Assessor's Office as well as interviewed local real estate brokers. RSG also completed a financial feasibility analysis to determine the amount of tax increment revenue that could be generated from the proposed project area. By way Of background, most redevelopment activities are traditionally funded by tax increment revenues. Tax increment revenues are property tax revenues generated by increases 'in assessed values over an established base year value. Redevelopment law allows for redevelopment agencies to 'collect those property tax increases over the baSe year value (property tax value at date of project area establishment). In essence, future tax revenues are redistributed when a project area is created. The tax increment revenue is distributed baSed on a mandatory formula that requires: a) 20% of the tax revenue be deposited into a low and moderate income housing fund to provide and/or improve the community's affordable housing and b) statutory payments to each of the taxing agencies that collect property taxes from the project area. The mandatory "pass through" of tax increment revenue generally requires that $0.31 of every $1.00 of tax increment revenue be allocated to affected property tax agencies, $.020 be allocated to the 20% set-aside housing fund, and $0.49 be retained for non-housing purposes. The report findings are as follows: 1. RSG concluded that the formation of a redevelOpment project area within the Study Areas would generally not be legal or financially viable at this time. 2. RSG's research and analysis could not document both the physical and economic blighting conditions required by Redevelopment Law, in subareas 1,2,3,4,5,6, and 7. 3. RSG concluded that subarea 8 (Scarlett Drive) exhibits some examples of both physical and economic blight, but the area does not represent a redevelopment project area that is large enough to facilitate an economically viable redevelopment program. 4. RSG concluded that redevelopment may be a necessary tool in five to ten years, if any of the subareas experience worsening physical and economic conditions. 5. RSG 'recommends that the City continue to invest in streetscape improvements, work with property owners to improve properties~ and implement marketing programs to stimulate patronage and investment and reinvestment in the subareas. Of.the eight subareas studied by RSG, only subarea 8 - Scarlett Court - reflected a Concentration of blighted properties. The blighting conditions noted by RSG included dilapidation and deterioration of certain industrial buildings, limited economic viability of certain buildings due to inadequate parking and obsolete buildings, and properties with a history of hazardous contamination that could ultimately affect property value(s). Despite the fact that subarea 8 contains examples of both blighting conditions required by redevelopment law, RSG found that the financial feasibility of creating a redevelopment project area using only subarea 8 would'be very difficult to implement for three major reasons. First, they found that the small size of the area (21 parcels - 45 acres) and'the limited amount of developable area could stymie the tax increment revenue growth necessary for the project' area. Second, there are costs involved in the establishment of a redevelopment project area. The redevelopment plan adoption process calls for environmental review, redevelopment document preparation, retention of legal counsel, and substantial public noticing and public hearing requirements. The total costs could range from $200,000 to $300,000 and could double if legally challenged. Third, a redeVelopment agency incurs annual operating costs that could average from $50,000 to $200,000 .annually to complete audits and annual reports, adoption of implementation and housing plans, and the administration of the tax increment revenues. RSG would not recommend proceeding with the redevelopment 'project area due to the potential high costs of implementation. RSG reviewed the financial implications of subarea 8 given two development scenarios: status quo and office development (highest and best use). RSG found that subarea 8 would create a modest amount of tax increment revenue over the 45-year e011ection period allowed by redevelopment law. RSG estimates that the status quo project would collect $15 million over the 45-year period; whereas $70.7 million would be collected over the same period with new office development. Statutory payments (20% set-aside and mandatory pass-through) reduce that figure to $7 million and $37 million, respectively. Those numbers are further discounted when figured at present value to equal $2.2 million and $11.8 million, respectively, in today's dollars. RSG further studied the potential costs to the Agency to participate .in the redevelopment of approximately 10 Searlett Court properties in order to aSsembly, consolidate, and write-down the costs of the land for future development. These costs involve land purchase, relocation, loss of goodwill, demolition, and fixtures and equipment costs which RSG estimates to be apProximately $30.9 million. In order to effectuate this project, the City would be required to advance to the Agency the $30.9 million acquisition costs. The advance would be repaid by land sale proceeds (approximately $15.7 million ~ $16 pe~ square foot), and the project Would have an appr ximately $15~2 million-shortfall that would require a /~) ~'~ 51 redevelopment or General Fund subsidy. This shortfall would require all of the tax increment funding for the 45-year life of the project area ($10. I million) as well as a subsidy from the General Fund or another source(s). RSG also found that the adoption of a redevelopment project area would also have a detrimental effect on the City's General Fund. The City currently collects 25% of the property taxes with the subarea g. If the project area were established, the City would lose approximately $3.0 million over the 45-year life of the project ($0.85 million in 'today's dollars) to the Redevelopment Agency , an amount equal to the difference between the City's share of taxes without redevelopment and the amounts required by law to be paid to the City's General Fund if the area were a redevelopment project area. ANALYSIS RSG found that only one of the eight subareas studied as Part of the Redevelopment Feasibility Analysis met the stringent legal requirements of blight as determined by California Redevelopment Law. Due to the 'lack of size of the .qualifying subarea (Scarlett Court), RSG has determined that the area would be unable to generate sufficient tax increment revenues to meet the purpose and goals of establishing a redevelopment agency. For thOse reasons, staff would concur with the RSG's findings and recommend that the City Council take no further action on this matter. RECOMMENDATION It is staff s recommendation that the City Council receiv~ the Rosenow Spevacek Group report and take no further action. Redevelopment Feasibility Study January 26, 2000.. City of Dublin 100 Civic Plaza Dublin, Califomia 94568 Rosenow Spevacek Group, Inc. 540 North Golden Circle, Suite 305 Santa Aha, California 92705 Phone: (714) 5411-4585 Fax: (714) 836-1748 E-Mail: RSGIncCA@aol.com ATTACHMENT R developrnent Feasibility Stu City of Dublin Introduction ........................................................................ Why Redevelopment is Being Considered ....................................... 2 Legal Requ,rements ............................................................. 3 Urbanization ..................................................... ~ .................................... 4 Blighting Conditions. ............................................ ~ .............................. 4 Bli.qhtin.q Conditions in Study Area ................................................... 6 'Subarea '1 .................................................................................... 6 Subarea 2 ................................................................................ ... 8 Subarea 3 .................................................................................... 9 Subarea 4 ............................................................ . ...................... Subarea 5 ................................................................................. . .Subarea 6 .................. ~ ............................................................... 13 Subarea 7 .................................................................................. Subarea 8 ................ ~ ................................................................. '/5 FiScal Implications .................. , ....... ,., ............................. 17 Tax Increment Proiecfions ..................................... ; .......................... 17 Economic Feasibility .......................................................................... 23 Fiscal Impact on City's General Fund .............................................. 26 COnclusions .............. : ....................... ................................ 29 C:\WIN DOWS\TEMP~STUDY2.DOC Redevelopment Feasibility Study City of Dublin The City of Dublin ("City") is in the process of formulating three specific plans to facilitate the continUed economic viability of certain commercial areas in' the City. To implement these specific plans, the City is investigating vadous financing mechanisms, including the creation of a redevelopment project pursuant to the California Community Redevelopment Law, Health and Safety Code Section 33000 et seq. ("Law,). The Law permits cities to adopt and implement redevelopment plans by providing legal and financial tools to mitigate specific physical and economic blighting conditions. This redevelopment feasibility Study ("Study") assesses the legal and financial implications of formulating a redevelopment project area inclusive of the three specific plan areas, and other commercial and industrial areas in older sections of the City. The 273-acre redevelopment study area ("Study Area") includes the following 8 subareas: · Specific Plan Areas: t) West Dublin BART Specific Plan Area, generally bounded by Dublin Boulevard, Amador Plaza Road, Interstate 580 and San Ramon Road 2) Downtown Core Specific Plan Area, generally inclusive of the Dublin Place Center and other commercial properties along Amador Plaza Road, from Amador Valley Boulevard to Dublin Boulevard. 3) Village Parkway Specific Plan Area, generally inclusive of properties immediately east and west of Village Parkway, between Amador Valley Road and Dublin Boulevard. · Other Study Areas: 4) Donlon Square Center, located on Dublin Boulevard at Donlon Way. s). Shamrock Village and Dublin Plaza centers along Amador Valley Road and Regional Street. ROSENOW SPEVACEK GROUP, INC. PAGE 1 CITY OF DUBLIN s)An unnamed neighborhood shopping center at San Ramon Road and Alcosta Boulevard. 7)Various commercial properties along Dublin Boulevard, between Sierra Court and Doughedy Road. ' s) Industrial and commercial properties generally bounded by Dublin Boulevard, the Southern Pacific Railroad right-of-way, Interstate 580, and Scadett Court A map of the Study Area is included at the end of this Study as Exhibit A. Why Redevelopment is Being'Considered Based on RSG's discussions with City staff, a field inspection of the Study Area and review of the eco.nomic opportunities in the area, redevelopment is being considered to achieve three fundamental goals, as listed below: · To facilitate implementation of la.de and streetscape improvements through the West Dubin BART, Downtown Core and Village Parkway Specific Plans ·To encourage the revitalization of Study Area properties to protect the community's economic base ·To employ Iow and moderate income housing tax increment funds into a Citywide housing rehabilitation program. ROSENOW SPEVACEK GROUP, INC. PAGE 2 Redevelopment .Feasibility Study City of Dublin in 1945, the Community Redevelopment Act was enacted by the California State Legislature to enable 'local governments to redevelop urban areas, that for many reasons, have suffered from unsafe, unfit, deteriorated, and economically dislocated buildings and properties. The initial growth in redevelopment was slow with only 46 redevelopment agencies established by 1965. Today, it is estimated that over 400 redevelopment agencies exist with approximately 780 project areas. Redevelopment was traditionally intended for severe conditions of blight such as that existing in inner city areas like Bunker Hill in' Los Angeles and the Embarcadero area :of San Francisco. Over the yearn, as redevelopment became more popular, cities used redevelopment as a funding mechanism in areas that did not meet the traditional views of blight. In the 1970s and 1980s, many cities placed suburban and semi- rural areas into redevelopment by arguing that these areas lacked public infrastructure. A public backlash developed in the early 1990s resulting in legislation that clarified the definition of blight. In 1993, the State Legislature adopted the Community Redevelopment Law Reform ACt (AB 1290); this legislation, mandated findings of both physical and economic blight. Prior to AB 1290, a blighted area was characterized by one or more conditions set forth in Health and Safety Code Sections 33031 and 33032, causing a reduction of, or lack of, proper utilization of the area that it constituted a physical, social, or economic burden on the community. The definition of blight was so vague that it allowed project areas to be characterized as blighted without the presence of substantial physical deterioration. Under AB 1290, the definition of blight was amended for project areas adopted after January 1, 1994. As it exists today, Health and Safety Code 33031 provides that a blighted area must contain both physical and economic blight. Specifically, the conditions set forth in Section 33031 must be so prevalent and substantial to cause a reduction of, or lack of, proper utilization of the area to the extent that it constitutes a serious physical and economic burden on the community. This burden cannot be expected to be reversed or alleviated by private enterprise, governmental action, or both, without redevelopment. ' ROSENOW SPEVACEK GROUP, INC. ' PAGE 3 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN The implications of AB 1290 cannot be overlooked; new project areas must conform to a significanlly higher threshold of blight and urbanization than what was previously permitted by Law. Indeed, many project areas created prior to redevelopment reform in 1994 could not meet today's legal requirements. As a result, it is much more difficult to create a redevelopment project area under today's legal requirements. Section 33320.1 of the Law mandates that not less than 80% of the land in a redevelopment project area is urbanized. Urbanized properties are defined as developed (or formedy developed) parcels, parcels of irregular form under mixed ownership, and properties that are an integral part of an urban area (i.e. substantially surrounded by developed proPerty). Applying these criteda to the Study Area, RSG determined that the Study Area in fact exceeds the 80% urbanization threshold. RSG estimates that ' approximately all 273 acres (100%) of the Study Area are urbanized, because Study Area parcels are either developed, or an integral part of an urban area, because they are surrounded by developed property on three or more sides. Blighting GondWons Pursuant to Section 33320.1 of the Law, redevelopment project areas must also be blighted. Indeed, the courts have found that the elimination of blight is the public purpose that justifies the use of redevelopment tools, including the expenditure of public funds, acquiring property, and imposing land use controls. As defined by Section 33031 of the Law, blight encompasses physical and economic conditions that cannot be alleviated by pdvate enterprise, governmental action or both, without redevelopment. Section 33031 also provides defines these physical and economic conditions as 'follows: Physical blight is defined as: · [] Buildings in which it is unsafe or unhealthy for persons to occupy, live, or work. These conditions include serious building code violations, numerous structures that are dilapidated or severely deteriorated, numerous structures that exhibit defective design or physical construction, faulty or 'inadequate utilities, or-other similar factors. [] Factors that prevent or substantially hinder the viable use or reuse of buildings or lots. This condition can be caused by substandard ROSENOW SPEVACEKGROUP, INC. PAGE 4 CITY OF DUBLIN building design, inadequate parcel size, nearby insufficient parking, or other similar factors. ·Adjacent or nearby uses that are incompatible with one another, and prohibit the economic development of adjoining parcels · Lots subdivided into irregular shapes, and are inadequately sized for proper usefulness and development. Further, these lots are. often under multiple ownership. Economic blight is defined as: · Depreciating or stagnant property values or impaired investments. Properties whose Value is *impacted by hazardous wastes and materials also fall under this category.. · Abnormally high business vacancies, abnormally Iow lease rates, high turnover rates, abandoned buildings, or excessive vacant lots within an area developed for urban use and served by utilities. · The'lack of commercial facilities that are normally found in neighborhoods, including grocery stores, drug stores, and banks and other lending institutionS. · Residential overcrowding or an excess of bars, liquor stores, or other businesses that cater excluSively to adults and generate public safety and welfare problems. ·A high cdme rate that constitutes a seriOus threat to the public safety and welfare. In addition to the aforementioned conditions, inadequate public infrastructure is also considered a condition of blight when other physical conditions are present. While the Law does not quanlJfy the portion of the Project Area that should be blighted, case law has generally found that blight must predominate and impact the entire redevelopment project area. Further, the Agency cannot include property solely for the puq~ose of collecting additional tax increment revenue; properties within a redevelopment project area must be either blighted or necessary for effective redevelopment of the project area. ROSENOW SPEVACEK GROUP, INC. PAGE 5 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN Blighting Conditions in Study Area In November 1999, RSG conducted a windshield field insPection of the StUdy Area, during which RSG noted examples of physical blighting conditions and vacancies. In addition, RSG surveyed 10 real estate Professionals active in the Study Area (see list in Exhibit B), studied ownership and parcel configurations obtained from the County Assessor's office, obtained statistics on police calls for service, investigated the extent of documented hazardous contamination, and interviewed City staff. In aggregate, RSG estimates that approximately 15 parcels, or 10% of the Study Area's 149 parcels, are characterized with one or more blighting conditions. Examples of blighted properties were primarily concentrated in Subarea 8, which is the Scarlett .Court industrial area. In general, the conditions noted within the Study Area include the following: t)' Dilapidation and DeterioratiOn, specifiCally limited to certain industrial properties along Scariett Court in Subarea 8. 2) Conditions hinderin.q the economic viability of buildings and lots, specifically limited to inadequate parking and obsolete structures in Subarea 8. 3) Potentially impaired investments due to history of hazardous contamination, identified' on approximately 8 proPerties located in the Study Area, including 2 in Subarea 8. (A list of properties with a history of hazardous contamination is included on Exhibit C) Of the 8 properties identified, 6 are currently under remediation. In order to prepare and adopt a redevelopment plan involving the Study Area, blighting conditions would need to be further documented, along with a more extensive analysis of their burden on lhe community and the inability of the private sector or the City to alleviate these conditions without redevelopment. RSG has described below any blighting Conditions within each Subarea: Subarea 1 Subarea 1, which is coterminous with the proposed boundaries of the West Dublin BART Specific Plan. Area, encompasses retail, office, hotel and industrial uses.. With the development of the West Dublin BART station at Golden Gate Drive, the City is looking to redevelop surrounding properties with uses that compliment the new transit center development. ROSENOW SPEVACEK GROUP, INC. PAGE 6 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN Physical Conditions: [] The Law establishes somewhat high thresholds of what constitutes physical blight.. Overall, properties' in Subarea 1 are in sound condition and cannot be described as dilapidated or deteriorated. City Code Enforcement did not identify any serious code violations in this Subarea, or any 'other portions of the Study Area. While some of the 20-30 year old structures within this area would appear to benefit from a facelift to modernize their appearance, this circumstance alone does not justify redevelopment. [] Many prOperties within this area have been, or are planned to be, privately, redeveloped. Examples include a proposed 42,000 square, foot office complex addition on the comer of Dublin Boulevard and San Ramon Road, a successful fagade improvement of a commercial center at 7884 Dublin Boulevard, the Outback Steakhouse restaurant, and the $60 million BART Project at Golden Gate Drive. These circumstances provide ample evidence that private enterprise can undertake revitalization efforts without redevelopment. · There were no examples of incompatible uses that prohibited the economic development of this area, nor any evidence of lots of irregular shape, form, and size under multiple ownership. Economic Conditions: · RSG's field survey did not identify any examples of high turnover or vacancies within Subarea 1, and property lease rates in this area average $1.25 per square foot (triple net) for retail property and $1.95 per square foot for office property, rates which local brokers characterized as typical of the Tri-Valley area. (See Exhibit D for a summary of RSG's lease rate survey) · There was no evidence of high business turnovers in Subarea 1; while data was not available to analyze property value spec'~cally within the Study Area, RSG believes that property values are comparable to other Tri-Valley properties. · Research of the California Environmental Protection Agency's (EPA) listing of known contaminated sites did not identify any contaminated properties in Subarea 1; neither property representatives nor. RSG could identify other examples of impaired ownership in this area. · The area does not contain residential uses, so there was no evidence of residential overcrowding. ROSENOW SPEVACEK GROUP, INC. PAGE 7 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN ·The area does not contain a concentration of businesses that cater exclusively to adults; such as adult businesses and bars. · Finally, both analysis of Shedff department statistics and follow-up discussions with police services staff indicate that the Study Area, like the balance of the City, does not suffer from high crime rates.. In light of the absence of any indications of blight, it is RSG's conclusion that Subarea 1 does not qualify for inclusion in a redevelopment project area. Subarea 2 Subarea 2 incorporates the Downtown Core Specific Plan Area along Amador Plaza Road. One of staffs initial concerns about this area was that the mixed ownership of the Dublin Place Center seemed to inhibit efforts to create a contemporary uniform design for the entire center. Physical Conditions: · The field survey did not note any examples of serious structural problems in this Subarea. Some of the facades were tired, but this condition did not appear to affect the ability of businesses to remain in place. · The tenants are quality, national tenants that have not indicated any intention to relocate from the area. City staff reports that Home Depot has plans to construct a '95,000 square foot EXPO Design Center on the vacant parcel between the Montgomery Wards and Target buildings. · Parking at properties alOng Amador Plaza Road, while' somewhat banal in-character, appeared to supply sufficient capacity for the businesses in the area · Buildings at 'the Dublin Place Center are poorly laid out and the entire center suffers from a disjointed site plan. These conditions are apparently caused in part by the fact that ownership of the 7 parcels that compdse the center is divided among 5 different entities. · There was no evidence of incompatible uses in this retail district. Economic Conditions: · With the entrance of Home Depot's EXPO Design Center into this area, there are no examples of substantial vacancies, high business turnover rates, or abnormally Iow lease rates in the area. ROSENOW SPEVACEK GROUP, INC. PAGE 8 REDEVELOPMENT FEASIBILFrY STUDY CITY OF DUBLIN (Although a few retail vacancies were noted at the Dublin Place Center during the field survey, follow up conversations with retail brokers indicated that .many of these spaces had been since leased) RSG's survey of commercial brokers indicates that the area commands retail rents of approximately $1.00 - $1.30 per square foot, which brokers considered to be average for larger shopping districts in the Tri-Valley area. · Only one property within the area (Montgomery .Wards Auto Center) had a record of contamination according to Califomia EPA. However, this sole occurrence does not appear to impair the utilization of this or surrounding parcels. · The area does not contain residential uses, so there was no evidence of residential overcrowding. ·The area does not contain a concentration of businesses that cater exclusively to adults, such as adult businesses and bars. ·Again, the Study Area overall does not include what the City's Police Services department would consider to be high crime areas. While Subarea .2 would benefit from a consolidated revitalization effort to update facades and streetscape to today's standards, it is RSG's conclusion that this condition alone does not qualify the area for inclusion in a redevelopment project. Subarea 3 Subarea 3 contains a mix of office, auto, and retail uses along Village Parkway. City staff indicateS that land uses and lot configurations along Village Parkway cause an excessive relianCe on automobiles for patrons. The City is seeking tools to work with the area's .multiple owners to address erratic land use patterns by transitioning the area into a pedestrian-Oriented retail district. Physical Conditions: · While RSG did not identify properties with sedous structural conditions, several properties along Village Parkway, including the strip center a the northwest corner of Village Parkway and Amador Valley Boulevard, Would benef~ from repainting, updated fa~de treatments, and improved signage. · Access between parcels was difficult, because many properties did not permit vehicular movement without using Village Parkway. This condition was observed at parcels northeast of the intersection ROSENOW SPEVACEK GROUP, INC, PAGE 9 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN of Dublin Boulevard .and Village Parkway, as well as properties west of Village Parkway. = Some properties contained a mix of industrial, auto service and commercial uses on the same site. Lots where these situations existed appeared to be overcrowded, lacking parking, onsite landscaping and trash enclosures. Examples include 6842 Village' Parkway and 7080 Village Parkway. However, these problems are evidently isolated and not detrimental to the overall character of this district. According to City staff, this area has not been frequently cited by code enforcement. Economic Conditions: = Based on RSG's discussions with real estate representatives familiar with Subarea 3, lease rates in this area remain relatively high. Retail properties lease rates range from $1.25 to $2.00 per square foot, which is comparable to rents for space of this type in the Tri-Valley area. · RSG did not observe a particularly high concentration of vacancies in Subarea 3. Brokers also commented that the area is desirable and does not suffer from high business turnovers or stagnant property values. The strip center on the northwest comer of Amador Valley BouleVard and Village Parkway had 2 of 8 spaces vacant in November 1999. ElseWhere in Subarea 3, commercial space was generally filled. · Automotive uses in Subarea 3 have been found by California EPA as having onsite contamination, including properties at 7249 Village Parkway, 7197 Village Parkway, and 9194 Village Parkway. The extent of the identified contamination has not been fully investigated, and additional research may be warranted to determine the extent'of this problem and the willingness of the principals to undertake remediation. · The area does not contain residential uses, so there was no evidence of residential overcrowding. · The area does not contain a concentration of businesses that cater exclusively to adults, such as adult buSinesses and bars. · Again~ high crime rates were not a factor throughout the Study Area. VVhile Subarea 3 does have some physical blighting conditions, it does not meet the Law's requirements that project areas contain both physical and ROSENOW SPEVACEK GROUP, INC. PAGE 10 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN economic blight. The apparent absence of economic factors, such as high vacancy rates, abnormally Iow property values or Iow lease rates, would prohibit the City from including this area in a redevelopment project area at this time. Subarea 4 The Donlon Square Center comprises Subarea 4. The 40,000 square foot shopping center is anchored by a building supply store. Physical COnditions: = Like many of the retail buildings in the Study Area, the Donlon Square Center needs a minor facelift to modernize the fa(;ade. However, the overall structural condition of the Property .appeared sound. · The entire shopping center lies on a single parcel with adequate parking, although onsite landscaping could improve the aesthetic character of the property. ·RSG did not observe any conditions that caused the property to be incompatible With surrounding uses. Economic Conditions: = The retail space was fully occupied at the time of the field inspection, and there were no apparent economic conditions that impaired investment. , · The area does not contain residential uses, so there was no evidence of residential, overcrowding. · The area does not contain a concentration of businesses that cater exClusively to adults, such as adult businesses and bars. = Local brokers did not believe that this area suffered from particularly high business turnover rates or stagnant property values. · EPA did not identify any contaminated sites within Subarea 4. Subarea 4 does not COntain any of the blighting conditions as prescribed by Law that would qualify its incluSion ina redevelopment project area. Subarea 5 Subarea 5 includes retail and office uses along Regional Street,' San Ramon Road, and Amador Valley Boulevard. Two 30-year old retail ROSENOW SPEVACEK GROUP, INC. PAGE 11 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN centers anchor the district, including the 51,200 square foot Shamrock Village center and the 191,900 square foot Dublin Plaza center. Physical Conditions: · As relatively older retail centers, Shamrock Village and Dublin Plaza do not feature contemporary facades and on site improvements found in today's retail developments. However, RSG observed that these centers and other structures in this Subarea are of generally sound condition. · Parking and access appeared to be adequate, with the exception of the 50,900 square foot Almond Plaza center at 7180 Regional Street. This center's u-shaped design and somewhat high lot coverage (approximately 26%) caused the center to be somewhat more congested than nearby properties. However, the center's poor physical layout did not appear to hinder the economically viable use of the center; given the high occupancy"rates of this development, the center seemed to be quite viable for continued commercial use. ·RSG did not observe any conditions that caused the prOperty to be incompatible with surrounding uses. ·Parcels in Subarea 5 are not of irregular form, shape and size, so this blighting condition cannot be documented in this. area. Econorn~c .Conditions: · Only a few vacancies were observed during the field inspection, including a closed fast food restaurant at 7122 Regional Street. Follow-up phone calls with area brokers indicated that spaces in this area typically do not stay vacant for more than 60 days. · Rents are generally competitive with similar space in the Tri-Valley Area. Dublin Plaza Center leases for $1.10 per square foot, which is not abnormally Iow for the retail centers of that age and design in the area. Other retail properties in the area lease for as much as $1.75 per square foot. · Only o.ne property had any record of contamination in Subarea 5. This service station at 7007 San Ramon Road is currently processing a site work plan for remediation according the Califomia EPA. · Subarea 5 contained only two small Vacant lots, which .cannot be characterized as excessive and therefore blighted under the Law. Also, there were no signs or' indications from brokers that the area ROSENOW SPEVACEK GROUP, INC. PAGE 12 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN suffered from high business turnover'rates, stagnant property values, or a lack of commercial facilities. · The area does not contain residential uses, so there was no evidence of residential overcrowding. · The area does not contain a concentration of businesses that cater exclusively to adults, such as adult businesses and bars. · Subarea 5 is not considered a high crime area by the Sheriff's department. RSG could not identify serious blighting conditions in Subarea 5 to recommend its inclusion in a redevelopment project area at this time. Subarea 6 Subarea 6 includes a small neighborhood shopping center constructed in about 1970. The former anchor tenant, a Lucky grocery store, shuttered its location a few years ago in favor of a newer center nearby. The grocery space is currently occupied by a furniture store. The City is considering including this area in a redevelopment project area to facilitate the rejuvenation of this center. Physical Conditions: · The fagade and signage of this development are obsolete by today's standards. Renovating the entire center may be complex, since the center's ownership is split between three different parties. Also, since Lucky Stores is retaining ownership of the former grocery space, they may not be motivated in investing into a center in which they no longer operate a store. · 'RSG estimates that the center is approximately 50,000 square'feet in size, which is about half of the size of today's neighborhood shopping centers. Because of its small size, attracting and retaining anchor tenants may be difficult in the future if the space is vacated. However, the center's property representative indicates that center benefits from its location to the nearby retail center across Alcosta Boulevard in San Ramon. Demonstration of substandard design, as defined by Law, is difficult in this instance since the center is currently occupied and in generally sound condition. · Parking at the center was not considered to be inadequate; there were a number of unused parking stalls observed during the field survey. ROSENOW'SPEVACEK GROUP~ INC. PAGE 1.3 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN ·The neighborhood shopping center is compatible with surrounding commercial and residential uses. ' · No.other physical conditions were noted in the field survey. Economic Conditions: · Two of the eight spaces in the center were vacant at the time of the field survey; these vacancies amounted to approximately 10% of the entire area of the center. · Property representatives indicated that the center lease rates are comparable to other spaces in Dublin, ranging from $1.25 to $1.50 per square foot. · Subarea 6 has no vacant lots, nor any evidence of high business turnover rates, stagnant property values, or a lack of commercial facilities. · The area does not contain residential uses, so there was no evidence of residential overcrowding. ·The area does not contain a concentration of businesses that cater exclusively to adults, such as adult businesses and bars. · RSG's research of other economic blighting factors found that this Subarea does not suffer from high crime or hazardous contamination. Although the center is generally in sound condition and well occupied, the Lucky's closure, lack of modemization, and dated design suggest this property may be in decline. However, because these conditions have not yet led to a consistent pattern of failures, declining lease rates, or vacancies, RSG does not recommend including Subarea 6 in a redevelopment project area. Subarea 7 Subarea 7 includes industrial and retail properties along the north side of Dublin Boulevard, from Sierra Court to Dougherty Road. This area was studied because the 104,000 square foot retail discount store on the comer of Dublin Boulevard and Dougherty Road appeared to need fagade improvements. Physical Conditions: · Properties along Dublin Boulevard were of mixed character, featuring inconsistent uses and design for this gateway to the ROSENOW. SPEVACEK GROUP, INC. PAGE 14 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN community. Overall, though, the buildings in the area appeared to be structurally sound. · Multiple ownership of commercial properties immediately northeast of the intersection of Dublin Boulevard and Sierra Court was evident, a condition which could inhibit use of these properties. At the. time of the field inspection, though, RSG did not note any vacancies or serious nuisances.that were created as a result of the configuration of parcels and ownership in this area. · No other physical conditions were noted in the field survey. Econbmic Conditions: · The entire Subarea 7 appeared to be fully leased, and brokers commented that the area commands relatively high lease rates ($1.40 to $1.45 per square foot). The high rents are attributed to the utilization of this industrial space for off~ce/service uses. · There was no evidence of impaired investments in the area, although one property (6401 Dublin Boulevard) was identified as having hazardous contamination by California EPA. However, California EPA reports that remediation efforts are underway. ·The area does not contain residential uses, so there was no evidence of residential overcrowding. - ·The area does not contain a concentration of businesses that cater exclusively to adults, such as adult businesses and bars. Subarea 7 does not contain sufficient examples of physical and economic blight necessary to recommend its inclusion in a redevelopment project area at this time.. Subarea 8 Subarea 8 contains approximately 15 blighted, parcels, including older industrial and automotive uses along Scarlett Court. City staff has indicated that the inclusion of this 21-parcel area in a redevelopment project area is desired to facilitate recycling and cleanup of some of the obsolete uses and upgrade this gateway to the City. Physical Conditions: · Structural deterioration was evident on four properties along Scadett Court. Conditions noted included deferred maintenance, deteriorated facades, and minor exterior damage. ROSENOW SPEVACEK GROUP, INC, PAGE 15 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN · Some properties suffered from poorly configured lots that lacked sufficient spaCe for onsite parking and loading/unloading activities, including a multi-tenant auto service use immediately southwest of Scarlett Court. Asa result, the street was cluttered with vehicles that inhibited traffic flows. · Another condition noted was the unscreened storage of wood and debris along Dublin Boulevard. Open storage of this material was clearly visible from Dublin Boulevard and adjoining hotel and commercial uses. City staff reports that this condition is a nuisance to surrounding property owners. Economic Conditions: · The majority of this area is owner occupied, so lease rate information was not available. Discussions with local real estate brokers indicated that the area is prime for revitalization as surrounding areas develop. · Due to its proximity to Interstate 580, the East Dublin BART Station, and appreciating east Dublin properties, property values in this area are relatively high, ranging from $15 to $25 per square foot. It is, likely that an acquisition and redevelopment program could be costly. · Hazardous contamination was documented on two parcels within the Survey Area; several brokers expressed concerns that additional contamination could be identified, as older industrial properties are recycled. Subarea 8 contains both physical and econOmic conditions that meat the basis for proceeding with a redevelopment project. However, because of its small size and lack of redevelopment potential, implementation of a redevelopment program in this area alone is not believed to be. economically viable. The economic feasibility of redevelopment in the Study Area is discussed in the next section. ROSENOW SPEVACEK GROUP, INC. PAGE 16 Redevelopment Feasibility Study City of Dublin The successful implementation of most redevelopment programs will require a significant amount of capital. Redevelopment is traditionally funded through tax increment financing. Redevelopment agencies do not have the authority to raise taxes' or impose neW assessments. Instead, tax increment financing allows for a redistribution of future properly tax revenue to a redevelopment agency. Tax increment revenue is property tax revenue generated by 'increases in assessed values over an established .base year value. When a redevelopment project area is established, the county auditor-controller sums up the existing value of all properties within the project area; this Value is called the base year value. As subsequent year assessed values within the project area increase due to the reassessments provided for by Proposition 13 (property improvements and/or sales, and an up to 2% inflation adjustment), the resulting property tax revenue generated from this incremental increase in assessed value over the base year Value is allocated to a redevelopment agency to fund redevelopment activities. The chart below graphically depicts how tax increment is generated. TAX INCREMENT FINANCING Investment ~ I I V&lultlon ActrUel tO I ~ , ! Oth.rAg.nGiee I I I YEARS ROSENOW SPEVACEK GROUP, INC. PAGE 17 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBUN The underlying philosophy of tax increment financing is that without redevelopment, property tax revenues within a redevelopment project area would remain generally fiat or even decline. However, when redevelopment powers are utilized in a proactive mode, such actions should result in an increase in property values. When a redevelopment program and project area are established, all of the property tax revenues generated from any future increase in the assessed value of properties is allocated to the redevelopment agency. Upon receipt, an agency is statutodly required to: 1) deposit 20% of the tax increment revenue into a Iow and moderate income housing fund in order to improve and expand the community's supply of affordable housing, and 2) remit statutory payments to each of the taxing agencies who collect property taxes from the project area. With respect to the latter, a legally prescribed formula is established that calls for payments equal to 25% of the remaining 80% nonhousing tax increment revenue during the first ten years of a redevelopment project. Beginning in the 11th year and again in the 31st year of a redevelopment project, these amounts increase pursuant to a statutory formula. In general, over the 45-year time period that a redevelopment agency may collect tax increment revenue, $0.31 of every $1'.00 of tax increment revenue is allocated to affected taxing agencies; the redevelopment agency retains $0.20 for affordable housing programs and $0.49 for nonhousing programs. The chart below, depicts the dispOsition of. the three pdmary ways tax increment revenue is distributed. Disposition of Tax Increment Revenues Statutory Payments (to Affected Taxing Agency Agencies) Nonhousing 31% Fund Revenue 49% Housing Fund Revenue 20% AB 1290, adopted in 1993, changed the CRL by imposing upon redevelopment project areas new limits and financing provisions, as well as requiring mandatory pass throughs of tax increment to affected taxing ROSENOW SPEVACEK GROUP, INC. PAGE 18 REDEVELOPMENT FEASIBIUTY STUDY CITY Of DUBLIN agencies. In general, these'new provisions have had a somewhat negative impact on the ,nancial feasibility of new redevelopment project areas. Two provisions that have the greatest financial impact on new project area formations are: (1) the 20 year time limit on incurring (nonhousing fund) debt, and (2) the provision for mandatory tax increment pass throughs. The mandatory pass through provision allocates approximately 31% of all tax increment generated from a project area over the 45 year term for collecting tax increment to its taxing agencies. These funds are passed through to the affected taxing agencies (excluding the City) on a formula basis specified in the CRL that increases the percentage allocated to the taxing agencies over time. The second provision limiting the amount of time an agency has to incur debt severely limits the dollars available to invest in the redevelopment of a project area, particularly as it' relates to bonding capacity. These limits can be extended through the amendment of a redevelopment plan. However, an amendment of this type would require the resubstantiation of blight. Tax Increment Projections Tables 1-A and I-B presents tax increment revenue projections for those portions of the Study Area that contain sufficient blighting conditions to proceed With a project area formatiOn, specifically Subarea 8 (Scadett Court). These projectionS incorporate the following assumptions as, summarized below: '~) 1999-00 Base Yeai~'value: The base year value is established by the Alameda County Auditor-Controller. If the City completes the 9-12 month process to adopt a redevelopment plan by July 20, 2001, the base year value of the Study Area would be based on the 2000-01 equalized assessment roll, and begin collecting property tax increment revenue in fiscal year 2002-03. RSG estimated the base year value using the 1999-00 secured assessment roll, and the annual 2% inflationary adjustment permitted by Proposition 13. No unsecured or nonunitary utility values were included in the base year values. 2) Assessed Value Growth Ratesi RSG applied a conservative 2% assessed value growth rate to estimate future assessed values. 3) Development Potential: RSG incorporated certain development assumptions into the tax increment forecast to account for development and redevelopment of vacant and underutilized proPerties in the Study Area over the 45' year pedod the Redevelopment Agency could collect tax increment revenue. As shown on Tables 2a and 2b, the projects incorporated into the forecast were based on consultations with City staff. ROSENOW SPEVACEK GROUP, INC. PAGE 19 REDEVELOPMENT FEAsIBILFI'Y STUDY CITY OF DUBLIN Projected Tax Increm~t Revenues- Subarea 8 Only (~o Office Reuse) TABLE 1-A New Payments to Houslmj. Nonhousing Development TotalAssessed Gress Tax Taxing Fund Fund Totalto Year (Par Table 2a) Value Increment Entities Revenue Revenue Agency 1999-00 23,380,454 Base 2000-01 23,965,000 1 2001-02 24,565,000 2,2002-03 2,100,000 27,280,000 33,150 6,630 6,630 1g,890 26,520 3 2003-04 3,000,000 30,960,000 69,950 13,990 13,990 41,970 55,960 4 200405 2,500,000 34,235,000 102,700 20,540 26,540 61,620 82,160 5 2005`06 35,095,003 111,250 22,250 22,250 66,750 ' 89,000 6 2006-07 35,965,000 120,000 24,000 24,000 72,000 96,000 7 2007-08 35,865,000 129,000. 25,800 25,800 77,400 103,200 8 2008-09 37,765,000 135,200 27,640 27,640 82,920 110,560 9 2009-10 38,730,000 147,650 29,530 29,530 88,590 118,120 10 2010-!1 39,700,000 157,350 31,470 31,470 94,410 125,880 11 2011-12 40,695,000 167,300 33,460 33,460 100,380 133,840 12 20t2-13 41,710,000 177,450 37,195 35,490 104,765 140,265 13 2013-14 42,755,000 187,900 41,041 37,580 109,279 146,859 14 2014-15 43,826,000 198,600 44,978 39,720 113,902 153,622 15 2015-16 44,920,000 209,550 49,008 41,910 118,632 160,542 16 2016-17 46,045,000 220,800 53,148 44,160 123,492 167,652 17 2017-18 47,195,000 232,300 57,380 46,460 128,460 174,920 18 2018-19 48,375,000 244,100 61,722 48,820 133,558 182,378 19 2019-20 49,565,000 256,200 66,175 51,240 135,785 190,025 20 202021 50,825,000 288,600 70,738 53,720 144,142 197,862 21 2021-22 52095,000 281,300 75,412 56,260 149,628 205,888 22 2022-23 53,395,000 294,300 80,196 58,860 155,244 214,104 23 2023-24 54,730,.0~ 307,650 85,109 61,530 161,011 222,541 24 202425 56,100,000 321,350 90,150 94,270 166,930 231,200 25 2025-26 37,500,000 335,350 95,302 67,070 172,978 240,948 26 2026-27 58,935,000 349,700 100,583 69,940 179,177 249,117 27 2027-28' 60,410,000 364,450 106,011 72,890 185,549 256,439 28 2026-29 61,920,000 379,550 111,568 75,910 192,072 267,982 29 2029-30 63,470,000 395,050 117,272 79,010 198,768 277,778 30 2030-31 65,055,000 410,900 123,105 82,180 205,615 287,795 31 2031-32 66,680,000 427,150 129,065 65,430 212,635 298,065 32 2032-33 68,345,000 443,800 137,077 88,760 217,963 306,723 33 2033-34 70,055,000 450,900 145,265 92,180 223,435 315,615 34 2034-35 71,865,000 478,400 153,685 95,680 229,035 324,715 35 2035.35 73,600,000 '496,350 162,301 99,270 234,779 334,049 36 2036-37 75,440,000 514,750 171/133 102,950 240,667 343,617 37 2037-38 77,325,000 533,600 180,181 106,720 246,699 353,419 38 2038-39 79,260,000 552,950 189,489 110,590 252,891 363,481 39 2039-40 81,240,000 572,750 198,973 114,550 259,227 373,777 40 2040-41 83,270,000 593,050 208,717 118,610 265,723 384,333 41 2041-42 85,350,000 613,850 218,701 122,770 272,379 395,149 42 2042-43 87,485,000 635,200 228,949 127,040 279,211 406~.51 43 2043-44 89,670,000 657,050 239,437 131,410. 288,203 417,613 44 2044-45 91,910,000 679,450 250,189 135,890 293,371 429,281 45 204548 94,210,000 702,450 261,229 140,490 300,731 441,221 Cumulative 14,973,350 4,575,813 2,994,670 7,402,887 10,397,537 NPVat5% 4,213,929 1,157,340 842,786 2,213,804 3,056,590 ROSENOW SPEVACEK GROUP, INC. PAGE 20 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN Projected Tax Increment Revenues. Subarea 8 Only TABLE Inclusive of Pro-active Redevelopment and Reuse for Office Development New Statutory Development Total Payments to Nonhousing (Per Table Assessed Incremental Gross Tax Taxing Housing Fund Fund Total to Year 2b) Value Value Increment , Entities Revenue Revenue Agency 1999-00 0 23,380;454 Base 2000-01 23,965,000 1 2001-02 24,505,000 2 2002-03 2,100,000 27,280,000 3,3i5,000 33,150 6,630 6,630 t9,890 26,520 3 2003-04 3,000,000 30,960,000 6,995,000 69,950 13,990 13,990 41,970 55,960 4 2004-05 2,500,000 34,235,000 10,270,000 102,700 20,540 20,540 61,620 82,160 5 200506 79,600,000 114,690,000 90,725,000 907,250 181,450 181,450 544,350 725,800 6 200607 117,555,000 93,590,000 935,900 187,180 187,180 561,540 748,720 7 2007-08 120,495,000 96,500,000 965,300 193,060 193,060 579,180 772,240 8 200509 123,505,000 99,540,000 995,400 199,080 199,080 597,240 796,320 9 2009-10 126,595,000 102,630,000 1,026,300 205,260 205,260 615,780 821,040 10 2010-11 129,760,000 105,795,000 1,0571950 211,590 211,590 634,770 846,360 11 2011-12 133,005,000 109,040,000 1,090,400 218,080` 218,080 654,240 872,320 12 2012-13 136,330,000 112,385,000 1,123,650 230,316 224,730 668,604 893,334 13 2013-14 139,740,000 115,775,000 1,'157,750 242,865 231,550 683,335 914,885 14 2014-15 143,235,000 119,270,000 1,192,700 255,726 238,540 698,434 938,974 15 2015-16 146,815,000 122,850,000 .1,228,500 268,901 245,700 713,899' 959,599 16 2016-17 150,485,000 126,520,000 1,265,200 282,406 250,040 729,754 982,794 17 2017-18 154,245,000 130,280,000 1,302,800 296,243 260,560 745,997 1,006,557 18 2018-19 158,100,000 134,135,000 1,341,350 310,430 268,270 762,650 1,030,920 19 2019-20 162,055,000 138,090,000 1,380,900 324,984 276,180 779,736 1,055,916 20 2020-21 166,105,000 142,140,000 1,421,400 339,888 284,280 797,232 1,081,512 21 2021-22 170,260,000 !.46,205,000 1,462,950 355J78 292,590 815,182 1,107,772 22 2022-23 174,515,000 ~150,550,000 1,505,500 370,837 301,100 833,563 1,134,663 23 2023-24 · 178,880,000 154,915,000 1,549,150 386,900 309,830 652,420 1,162,250 24 2024-25 183,350,000 159,385,000 1,593,850' 403,350 318,770 871,730 1,193,500 25 2025-26 187,935,000 163,970,000 1,639,700.. 420,222 327,940 891,538 1,219,478 26 2026-27 192,635,000 168,670,000 1,686,700 437,518 337,340 911,842 1,249,182 27 2027-28 197,450,000 173,485,000 1,734,850 455,238 346,970 932,642 1,279,812 28 2028-29 202,385,000 178,420,000 1,784,200 473,398 356,840 953,962 1,310,802 29 2029-30 207,445,000 ;183,480,000 '1,834,800 492,019 365,960 975,821 1,342,781 30 2030-31 212,630,000 188,665,000 1,886,650 511,100 377,330 998,220 1,375,550 31 2031-32 217,945,000 193,980,000 1,939,800 530,659 387,960 1,021J81 1,409,141 32 2032-33 223,395,000 199,430,000 '1,994,300 556,819 398,860 1,038,621 1,437,481 33 2033-34 228,980,000 205,015,000 2,050,150 583,627 410,030 1,056,493 1,466,523 34 2034-35 234,705,000 210,740,000 2,107,400 611,107 421,480 1,074,813 1,496,293 35 2035-36 240,575,000 216,610,000 2,166,100 639,283 433,220 1,093,597 1,526,817 36 2036-37 246,590,000 222,625,000 2,226,250 668,155 445,250 1,112,845 1,558,095 37 2037-38 252,755,000 228,790,000 2,287,900 697,747 ~ 457,580 1,132,573 1,590,153 38 2038-39 259,075,000 235,110,000 2,351,100 728,083 470,220 1,152,797 1,623,017 39 2039-40 265,550,000 241,585,000 2,415,850 759,163 483,170' 1,173,517 1,656,687 40 2040-41 272,190,000 248,225,000 2,482,250 791,035 496,450 1,194,765 1,691,215 41 2041-42 278,905,000 255,030,000 2,550,300 823,699 510,060 1,216,541 1,726,601 42 2042-43 285,970,000 262,005,000 2,620,050 857,179 524,010 1,238,861 1,762,871 43 2043-44 293,120,000 269,155,000 2,691,550 891,499 538,310 1,261,741 1,800,051 44 2044-45 300,450,000 278,485,000 2,704,850 926,683 552,970 1,285,197 1,838,167 45 2045-46 307,960,000' 283,995,000 2,839,950 962,731 567,990 1,309,229 1,877,219 Cumulative 70,764,700 19,321,852 14,152,940 37,289,908 51,442,848 NPVat5% 21,478,199 5,323,896 4,295,640 11,858,663 16,154,303 ROSENOWSPEVACEK GROUP, INC. PAGE REDEVELOPMENT FEASIBILITY STUDY Cl'rY OF DUBLIN Development Assumptions used in Tax Increment Projections TABLE 2-A Inflation Assumed Year Building SF or Value/SF Adjustment Total Project Subarea Location Development Completed Units or Unit 1/ Value 8 ScadettDrive AutoSales 2001 19,500 $ 108 1.02 $ 2,100,000 8 ScarlettDrive Auto Sales 2002 27,000 $ 108 1.04 $ 3,000,000 8 ScadettDrive Retail/Motorcycles 2003 21,500 $ 108 1.06 $ 2,500,000 Optional Development-Redevdopment of Given Properties -- -- TABLE 2-B 8 ScarlettCourt, Office Reuse of 2004 490,000 $ 150 1.08 $79,600,000 west of Scarlett Industrial Properties Drive along Scarlstt Court 1/ Assumes 2.0% annual infl~onaryincrease in building costs Based on these assumptions, RSG estimates that Subarea 8 would generate a modest amount of tax increment revenue oVer the 45-year collection period provided by Law. Cumulatively, RSG estimates per Table l-A, that the AgenCY would generate approximately $15 million in gross tax increment revenue over the duration of the Plan to fund mandated housing set aside depoSits, statutory payments to affected taxing agencies, and nonhousing programs. Based upon Table 1-B which includes the assumption of a proactive redevelopment effort that would produce a large office development, the Agency would generate .approximately $70.7 million in.gross revenues. The Lawrequires that not less than 20% of this tax increment revenue, or $3.0 million and $1.4.1 million, respectively, be deposited into the Agency's Iow and moderate income housing fund. Also, the Law stipulates that another portion (approximately $4.6 million, and $19.2 million, respectively) of the tax increment revenue is to be distributed to the affected .taxing agencies for statutory pass through payments. The remaining tax increment revenue of $7.4 million and $37.3 million, respectively; would be available to fund nonhousing programs within the redevelopment project area over the 45 year term of collection. In today's dollars, assuming a 5% discount rate, the net present value of the projected Study Area housing .resources equal $0.8 million or $4.3 million, while the nonhousing revenues equal $2.2 million or $11.9 million, respectively. ROSENOW SPEVACEK GROUP, INC. PAGE 22 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN Adoption and Administrative Costs The City should also consider the costs involved in forming a redevelopment project area. The redevelopment plan adoption precess entails envirenmental reView, redevelopment document preparation, legal counsel participation, and substantial public noticing and public hearings. VVithout legal challenges, the costs to form a redevelopment project area can range from $200,000 to $300,000. If the plan adoption is challenged, these costs could be doubled. Finally, the operation of the Agency must also be considered. By Law, .the Agency will need to complete an audit and various annual reports, adopt implementation and housing plans, .and administer tax increment funds. RSG's experience indicates that these costs could average between $50,000 to $200,000 annually. Over 45 years, the Agency could incur as much as $1.5 million (in today's dollars) in annual administrative costs. Available Funding for Nonhousing Projects As a result of the $1.8 million of upfront adoption costs and ongoing administrative costs, the Agency's ultimate nonhousing funding available for project implementation costs would be reduced. In today's dollars, the Agency' available nonhousing funds would equal appreximately $0.4 million without the development of an offce project along Scadett Drive, or $10.1 million with the Scadett preject. Economic Feasibility RSG assessed the economic feasibility of a redevelopment project area without and with redevelopment of a hypothetical office project along Scadett Court, west of Scadett Ddve. (An office reuse was assUmed given the fact that similar uses are in demand to the east and is considered to be the highest and best use of this preperty.) ' Revenue prejections without and with the office project are presented on Tables 1-A and l-B, respectively. As shown in these two forecasts, the office project would generate significantly more tax increment revenue for Agency nonhousing projects. Howeverl while an office project would increase the secured assessed value of the project area by approximately $79.6 million and increase the present value of the nonhousing preperty tax revenues (net of adoption and administrative costs) from $0.4 million to $10.1 million, the Agency would need to participate in the redevelopment of about 10 Scadett Court parcels in order to assemble; consolidate, and write-down the costs of the land. ' ROSENOW SPEVACEK GROUP, INC. PAGE 23 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN Gosts to Implement Office Project in order to accomplish a project of this scale, a total of $30.9 million of acquisition, relocation, and other costs would need to be financed upfront. (Table 3 presents estimates of the potential, costs to acquire and consolidate the Scarlett Court site.) This cost is approximately twice, as much as the land is worth on the open market. Since the Agency would not have' these funds available, this cost would need to be advanced by the City General Fund, or some other source. The $30.9 million project advance would be paid, in part, by land sales proceeds and Agency nonhousing funds. These two 'sources would account for approximately $25.8 million, including sales proceeds of $15.7 million (assuming a sales price of $16 per square foot) and all nonhousing funds generated over the 45-year term of the Redevelopment Plan, net of adoption/administration costs, of $10.1 million. The remaining $5.1 million of project costs would need to be underwritten by the City General Fund, or another source, without reimbursement from the Agency. In addition, the Agency would have no more funds to implement any other nonhousing redevelopment projects over the 45-year duration of the Redevelopment Plan. ROSENOW SPEVACEK GROUP, INC. PAGE 24 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN Estimated Redevelopment Costs TABLE 3 Office Reuse of $cade~ Ct. Area Cost Per Total Cost 1/ SF FOOTNOTES: 1/Include pmlimina'y cost estimates for the following: INITIAL AGENCY COSTS/1 $ 30,932,789 31.55 (Includes acquisition, relocation, demolition, Address Business(es) 6500 Scarlett Ct. Miracle Auto Painting and goodwill.) 6380 Scarlett CL Smog Station LAND SALE PROCEEDS /2 $ 15,687,504 $ 16.00 Gil's Body Work All Glass REQUIRED SUBSIDY $ t5,245,285 $ 15.55 6451ScadettCt. GooddmicsPromotionslnc. To be funded by the following sources: Repo Connection All Agency nonhousing revenue 10,108,663 6389 Scarlett Ct. Kobold Supply (net of adoption/admin costs) 6363 Scadett Ct. Dolan Lumber Other sources, to be determined 5,136,622 6331 Scarlett Ct. No. California Heat Pump Inc, Taylor Drywall PEP Wholesale 6341 Scarlstt Ct, Viking Distribution Co, Brown and Fessler Harvey ImpO~S 6355 Scarlett Ct. RUUD Heating and Coding Diablo Engine and Machine Fairway Packaging Larry ~n Distribution Mail Service Cqmpany AA Fire System 6301 Scarlett Ct. El Monte RV Center 6265'Scarlett Ct. U-Haul Center of Dublin 2/Assumes cleared site sell at comparable market ($16 per square foot) Concl.sions on Economic Feasibility of Redevelopment A summary of the Agency's potential revenues and expenditures associated with adoption arid implementation of a redevelopment program involving Subarea 8 is presented in Table 4 below. Because of the potential high cost of implementing a successful redevelopment program in Subarea 8, RSG would not recommend proceeding with a redevelopment projec~ area in this area. ROSENOW SPEVACEK GROUP, INC. PAGE 25 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN Initial and Ongoing Redevelopment Costs - Subarea 6 Only ?ABLE 4 Budget Item Without With Scarlett Ct. Scarlett Ct. (Expressed in Current DOllars) Project Project Adoption of Redevelopment Plan $ 250,000 $ 250,000 Project Implementation Costs Scarlett Court Redevelopment/Office Project 1/ 0 15,245,285 Agency Administrative Costs 2/ 1,500,000 1,500,000 Total Adoption/Implementation Costs $ 1,750,000 $ 16,995,285 (Ovar45Yaars)TotalNonhousingTaxlncrementRevenuss $ 2,213,804 $ 11,858,663 Redevelopment Surplus/(Shortfall to be absorbed $ 463,804 $ (5,136,622) by City General Fund or other sources) 11 Per Table 3. Excludes financing costs. 2/Assumes $75,000 per year for Ag.ency administriative, legal and accounting costs 3/ From Table 1 Fiscal Impact on City's General Fund RedeVelopment financing essentially caps the amount of property tax dollars collected by affected taxing agencies that collect taxes within the redevelopment project area. The affected taxing agencies, along with their respective shares of the current property tax levy, are identified in Table 5 below. The City General Fund collects approximately 25% of the property taxes within the Study Area today. ROSENOW SPEVACEK GROUP, INC. PAGE 26 REDEVELOPMENT FEASIBILITY STUDY CITY OF DUBLIN Affected Taxing Agencies - Dublin Redevelopment Study Area TABLE 5 Tax Levy Current Tax ERAF (Used for Taxing Agency Levy Adjustment 1/ RDA) General Levy County of Aiameda 0.158119 (0.152772) 0,310891 Chabot/Las Positas Community College District 0.027498 0.027498 Dublin Joint Unified School District 0.250842 0.250842 County Superintendent of Schools 0.011444 0.011444 County Library 0,024350 (0.025671) 0.050021 County Flood Control 0.015181 (0.010024) 0.025205 Bay Area Quality Air Management District 0.002278 0.002278 Mosquito Abatement 0,000938 (0,000581) 0.001519 Bay Area Rapid Transit 0.006690 0,006890 East Bay Regional Park 0.031993 0.031993 Alameda County Res. Con. 0.000253 (0.000048) 0.000301 City of Dublin 0.254536 (0.026781) 0.281317 Educational Rev. Aug. Fund (ERAF) 0.215877 0.215877 Subtotal ' 1.000000 1.000000 Override Levy Dublin Joint Unified School District .0.071900 0.071900 East Bay Regional Park 0.008800 0.008800 Total Tax Levy 1.080100 1.080700 11 Section 97.4 of the Revenue and Taxation Code requires that disbursements to the Education Revenue Augmentation Fund be paid from tax revenues from non-radevelopment areas. Loss of Future General Fund Property Tax Growth If Subarea 8 were incorporated into a redevelopment project area, the amount of property taxes collected by the City General Fund would be capped for the next 45 years, while the majority of future incremental increases in property tax revenues are diverted to the Redevelopment' Agency. (By Law, the Agency would be required to share approximately 20% of the City's 25% share of property tax increment revenues with the General Fund if the area was incorporated into a redevelopment project area) Estimates of the amount of General. Fund revenues lost are enumerated in Table 6 below. ROSENOW SPEVACEK GROUP, INC. PAGE 27 REDEVELOPMENT. FEASIBILITY STUDY CITY OF DUBLIN Fiscal Impact of Redevelopment on City General Fund TABLE 6 Property Taxes Revenues from Redevelopment Area (Cumulative) SUBAREA S. WITHOUT OFRCE REUSE 5Years 10 Years 20 Yearn 45 Years Without Redevelopment $ 80,701 $ 256,890 $ 807,401 $ 3,811,256 With Redevelopment (Statutory Payments) 16,140 51,378 161,480 762,251 Net lmpact on City $ (64,561) $ {205,512) $ (645,921) $(3,049,005) (Net Impact- Discounted at 5%) (56,051) (155,802) (370,452) (858,077) Property Taxes Revenues from RedeveloPment Area (Cumulative) SUBAREA 8- WITH OFFICE REUSE 5 Years 10 Years 20 Years 45 Years Without Redevelopment 283,311 1,551,117 ' 4,734,000 18,012,161 With ~',edevelopment (Statutory Payments) 56,662 310,223 946,800 3,602,432 Net Impact on City (226,649) (1,240,893) (3,787,200) (14,409,729) (Net Impact- Discounted at 5%) (189,401) (909,767) (2,162,283) (4,373,579) Over the-next 45 years, RSG estimates the City would lose approximately $3.0 million ($0.9 million in today's dollars) to the Redevelopment Agency without the office project, and $14.4 million ($4.4 million in today's dollars) With the office project. These amounts represent the difference between the City's share of the incremental increase in property taxes without redevelopment, and the' amounts required by Law to be paid to the City General Fund if the area was in a redevelopment project area. ROSENOW SPEVACEK GROUP, INC. PAGE 28 Redevelopment Feasibility Study City of ~ubii~ Based on the analysis contained in this feasibility study, RSG concludes that formation of a redevelopment project area within the Study Area would generally not be legally or financially viable at this time. More specific conclusions are itemized below: = The Law requires that redevelopment projects contain both physical and economic blight that cannot be alleviated by the pr'n/ate sector, governmental action, or both, without redevelopment. · Based on RSG's research and analysis documented in this Study, both physical and economic blighting conditions,, as defined by Redevelopment Law, cannot be documented within Subareas 1, 2, 3, 4, 5, 6, and 7. · Subarea 8 exhibits some examples of both physical and economic 'blight, but do not constitute a redevelopment project area that is large enough to facilitate successful and timely implementation of an economically viable redevelopment program.. · Redevelopment may be a necessary tool in fn/e or ten years, if the Study Area experiences physical degradation and economic conditions worsen. · in the meantime, RSG recommends that the City continue to invest in Study Area streetscape imprOvements, work with property owners to upgrade properties, and implement marketing programs to stimulate patronage and reinvestment in the Study Area. ROSENOW SPEVACEK GROUP, INC. PAGE 29 Redev~opment Feasibility Study City of DUblin ROSENOW SPEVACEK GROUP, INC. Redevelopment Feasibility Study City of Dublin Chds Adams Commercial CB Commercial Colleen Brooks . Retail/Office BrOker David Malcolm Property Management Mike Costa Retail/Office Broker BT Commerdal 'Patric Davis 'Retail/Office Broker Lee & Associates Charlotte Femandez Retail/Office Broker Alcosta & Assodates Mike Fumy Industrial Broker CB Commercial Brett Holden Industrial Broker Lee & Associates Jim Lange Retail/offce Broker Lance Properties Pete Klein Retail/Office Broker Corrie companies Brooks Mothom Retail/Office Broker Grubb & Ellis ROSENOW.SPEVACEK GROUP, INC. ,Redevelopment Feasibility Study City of Dublin 2 6900 Amador Valley (Montgomery Wards) Contaminated 3 7249 Village Parkway Pollution Characterization 3 7197 Village Parkway Pollution Characte 'nzation 3 7194 Village Parkway Site Work Plan Underway 5 7007 San Ramon Remediation Plan 7 6401 Dublin (Unocal) Site Plan Underway 8 6301 Scarlett Court Contaminated 8 6393 Scarlett Court Site Plan Remediation ROSENOW SPEVACEK GROUP, INC. Redevelo t Fea bility Gtudy City of Dublin TRI-VAI ~ FY'AREA $1.25 - $2.00 $0.65 - $1.45 (gross) Study Area Combined $1.00 - $2.00 $1.40 - $1.45 (gross) Subarea 1 $1.25 Not Applicable Subarea 2 $1.10 - $1.30 Not Applicable Subarea 3 $1.20 - $2.00 Not Applicable Sub~_rea 4 Not Available Not Applicable St~b_~rea 5 $1.10 - $1.25 Not Applicable S;J_h~rea 6 $1.25 - $1.50 Not Applicable Subarea 7 Not Applicable $1.40 - $1.45 (gross) Subarea 8 Not Applicable Predominantly Owner Occupied - Not Available ROSENOW SPEVACEK GROUP, INC, CITY CLERK File # / I AGENDA STATEMENT CITY COUNCIL MEETING DATE: JUNE 18, 2002 SUBJECT: Authorization for initiation ora Specific Plan for the Scarlett Court Area and provide direction to Staff for future actions Report Prepared by: Andy Byde, Senior Planne~' ATTACHMENTS: 1. Resolution authbrizing initiation of Specific Plan 2. prOposed Specific Plan Area 3. Scarlett Court Area Zoning Map RECOMMENDATION: 1. Receive Staff presentation' ' ,,"7 ,.,-.,-- 2. Provide direction to Staff regarding the proposed boundaries of the Specific Plan; 3. AuthoriZe initiation of Specific Plan Study for the Scarlett Court Area; 4. Provide direction to 'Staff if a moratorium is a desired for the area; and 5. If the City Council directs Staff to remm with a moratorium then provide direction to Staff regarding the appropriate scope of the moratoriUm. FINANCIAL STATEMENT: No financial impact DESCRIPTION: During the Goals and Objectives session for Fiscal Year 02/03, the City CoUncil requested Staff, as a high priority item, to initiate a Specific Plan for the Scarlett Court Area (see Attachment 2). The area has a General Pian designation of Business Park/Industrial: Outdoor Storage (F.A.R: .25 to .40). The General Plan designation anticipates retail and manufacturing activities conducted outdoors such as mobile home Or construction materials storage. The zoning for the entire area is M-1 (Light Industrial), which allows warehousing, industrial and Other similar uses (see Zoning Map, Attachment 3). The M-1 zoning was originally established under tile County jurisdiction and has remained unchanged since the City was incorporated. The Scarlett Court area contains the following uses: building material sales, light industrial uses, outdoor storage, mini storage, auto repair, and new/used automobile sales. The predominant use within the area is auto related. The area has many large and underutilized parcels, including Dolan's Lumber, which was located at 6365 Scarlett Court and ceased operating in approximately June of 2001. COPIES TO: Applicant Property Owners Project Planner ~ ITEM NO.~ G:kPA#~2002~Scarlett Court Sp\ccstaffreport 6.12 Scarlett Court. doc : ATTACHMENT Some of the existing uses, including building material sales and mini storage, are not currently permitted with.in the M-1 (Light Industrial) Zoning District~ which renders these uses legal non-conforming and subject to the limitations set forth in the Dublin Zoning Ordinance. Prior to the eastern extension of Dublin Blvd., the Area had access served solely by Scarier Court, which is parallel to Dougherty Road in the western portion of the area and parallel' to 1-580 along the eastern portion of the area. Although Dublin Blvd. has been extended for over 7 years within this area, only two parcels currently utilize this frontage. ISSUES Specific Plan Boundaries Staff has preliminarily identified the proposed boundaries for the Scarlett Court area. The proposed area consists of approximately 26 parcels, consisting of approximately 52 acres of land and is bounded on the west by Dougherty Road, the North by Dublin Blvd., the south by 1-580 fight-of-way, and the east by the Iron Home Trail right-of-way (see Attachment 2). Before preparing the request for proposals (RFP) and the preliminary budget, the boundaries for the Specific Plan Study should be identified. Staffrequests that the City Council provide direction to Staff regarding the proposed boundaries of the Specific Plan, as identified on Attachment 2. Specific Plan Initiation Pursuant to City Council's goal of initiating a Specific Plan for the Area, Staffis requesting authorization to initiate a Specific Plan study for the area. Staff will be preparing a work program, anticipated budget, and 'RFPs to send out to consultants. Staff anticipates the necessary consultants would be: an economic consultant to determine demand for particular uses; a traffic consultant to evaluate circulation patterns; and a design consultant to assist in preparing design guidelines for the area. Staff will return shortly to the City Council to request authorization to send out the RFPs and present a draft work program and anticipated budget amount: Moratorium Staff is concerned, that without knowing the outcome of the Specific Plan study, which would include land use, economic analysis, and a circulation analysis, building modifications, new uses, and other ministerial and discretionary actions 'could negatively impact the outcome of the desired Specific Plan. An example of a ministerial action negatively impacting the area woUld be a warehouse facility leasing an available site and making no site or facility improvements. Approval of such uses within the Area during the time that the City completes the Specific Plan could ultimately frustrate the City's long term efforts to ensure the area is properly developed as properties become suitable for reuse. Staff requests that the City Council provide direction as to the appropriateness of enacting a moratorium for the area. If the. City Council determines that a negative impact will result from ministerial and discretionary actions, occurring within the area, the Council should direct Staff to prepare a moratorium on any discretionary actions including: site development review or conditional use permits; or ministerial actions including: building permits or a business license for a new tenant. If the City Council directs Staff to prepare such a moratorium, appropriate exemptions could include: (1) any building permit submitted prior to the effective date of the moratorium; (2) any discretionary action (and its associated building permit) submitted prior to effective date of the moratorium; (3) work or modifications to a building which will not modify the appearance or potential use of a building or other work deemed necesiary by the Building Official for the safety of the occupants; and (4) proposed new auto sales franchises. 2 New auto sales franchises could be exempted for two reasons: (1) currently there is a high proportion of the existing auto dealers within the area; and (2) currently the M-1 zoning permits new and used auto dealers, subject to the Planning Commission approving a conditional use permit. A potential modification to the current zoning regulations could require a conditional use permit to be approved by the City Council, instead of the Planning Commission while the moratorium is in place. This modification would allow the City Council to evaluate a proposed new auto dehler and determine if it would be consistent with the Council's goals for the area. If the City Council directs Staff to remm to the next Council meeting with a moratorium, the interim ordinance would take effect immediately if adopted by a four-fifths vote by the City Council. State law limits the initial term of the ordinance to 45 days. State law also requires the ordinance to include a finding that there is a current and immediate threat to the public health, safety or welfare, and that the approval of ministerial or discretionary actions in order to comply with the Zoning Ordinance would result in a threat to public health,, safety or welfare. State law allows the City Council to extend the ordinance by 10 months and 15 days, and again 'by one year (for a total of two 'years), following a noticed public hearing. Any subsequent extension shall require a four-fifths Vote for adoption. No more than two extensions may be adopted. Ten days prior to the expiration of an interim °rdinance or any extension, the City Council shall issue a written report describing the measures taken to alleviate the condition, which led to the adoption of the ordinance. Should the City Council direct Staff to return to the July 2, 2002 Council meeting with a moratorium, the above mentioned written report would be brought back to the Council on August 6, 2002. Staff requests that the City Council provide direction as to the appropriateness of a m6ratorium. If a moratoritim is desired', provide diiection to Staff regarding the scope and the exemptions of the proposed moratorium. RECOMMENDATION: Staff recommends the City Council: (1) receive Staff presentation; (2) provide direction to Staff regarding the proposed boundaries of the Specific Plan; (3) authorize initiation of Specific Plan Study for the Scarlett Court Area; (4) provide direction to Staff if a moratorium is a desired for the area; and (5) if the City Council directs Staff to return with a moratorium then provide direction to Staff regarding the appropriate scope of the moratorium. RESOLUTION NO. 106 - 02 A RESOLIYrION OF TwE CITY COUNCIL OF ~ CITY OF DUBLIN AUTHORrLUNG THE INITIATION OF A SPECIFIC PLAN FOR THE SCARLETT COURT AREA WltEREAS, during the Goals & Objectives meeting for Fiscal Year 2002-03, the City Council requested Staff~ as a high priOrity item, to initiate a Specific Plan for the Scarlett Court Area; and WltEREAS, unsightly or inappropriate land use on one parcel can discourage or prevent desired land uses in the surrounding area, negatively affecting the aesthetics of the City, decreasing the number of jobs and revenue for City services, frequently leading to the degradation of structures as failed businesses are not replaced, and increasing the likelihood that inconsistent and sub-optimal land uses will move into an area, further degrading it; and Wlt-EREAS, Dublin Boulevard, a major thoroughfare, was recently improved to provide additional frontage to parcels along Scarlett Court; and WI~REAS, the Scarlett Court Area has many large and underutilized parcels which have inadequate access and do not take advantage of the recent extension of Dublin Boulevard; and WltEREAS, Section 65453(a) of the State of California Government Code states that a Specific Plan may be prepared, as deemed necessary by the legislative body; and '.WltEREAS, the City Council did hear and consider all such reports, recommendation, and testimony herein above set forth and is in support of a Specific Plan to determine the appropriate land use for the property. NOW, Tmr~REFORE, BE IT RESOLVED TItAT the Dublin City Council does hereby initiate a Specific Plan for the Scarlett Court Area for all of the area located west of Dougherty Road, North of Dublin Blvd., South ofi-580 right-of-way, and east of the Iron Horse Trail right-of-way. PASSED, APPROVED, ANI) ADOPTED this 18th day of~Iune 2002, by the following vote: AYES: Councilmembers McCormick, Oravetz, Sbranti and Zika and Mayor Lockhart NOES: None ABSENT: None Dubl PROPOSED MORATORIUM AREA Attachment 2 0~ Zoning Map Attachment 3'