Council Agenda - City of Burbank

Tuesday, December 16, 2003

Agenda Item - 4


 

 

DATE: December 16, 2003
TO: Mary J. Alvord, City Manager
FROM:

Sue Georgino, Community Development Director

Derek Hanway, Financial Services Director

Ruth Davidson-Guerra, Asst. CDD for Housing and Redevelopment

BY:  Maribel Frausto, Senior Redevelopment Project Manager

SUBJECT: ANNUAL REPORT OF FINANCIAL TRANSACTIONS OF THE BURBANK REDEVELOPMENT AGENCY - FY 2002-2003


 

PURPOSE

The purpose of this report is to present to the City Council the Annual Report of Financial Transactions of the Burbank Redevelopment Agency (Annual Report) and to request authorization to submit the Annual Report to the State Controller.

 

BACKGROUND

As required by California Redevelopment Law (Health and Safety Code Section 33080), a redevelopment agency must annually prepare for its legislative body's approval an Annual Plan and then submit a copy to the State Controllers Office within six months of the end of the agency's fiscal year.  The Annual Report contains the following essential elements:

 

        Fiscal Statement of Previous Year's Achievements

The Annual Report includes information about the amount of tax increment generated by each project area, the amount of indebtedness and other fiscal information.

 

        Independent Financial Audit Report

The Annual Report will have attached the Comprehensive Annual Financial Report that includes the auditor's opinion of the Agency's operation, conformance with laws and administrative standards of the Agency, as well as the Agency's financial position.

 

        Activities Affecting Housing and Displacement 

The Annual Report identifies agency activities during the reporting period that affect housing affordable to elderly and non-elderly households, who are very low, lower or moderate-income.  Information about these target populations includes, for example, the number of units removed from the market place (replacement housing requirements), the number of new or substantially rehabilitated units produced (inclusionary housing requirements), the number of agency-assisted units constructed, rehabilitated, acquired or subsidized during the prior year, a statement that the Agency accumulated no excess surplus, an estimate of the affordable housing projects to be developed, target populations to be displaced over the next two program years, and Low and Moderate-Income Housing Fund balances.

 

PROJECT AREA HIGHLIGHTS

Compiled below is a compilation of Redevelopment Agency activities in each of the four Project Areas.

 

CITY CENTRE REDEVELOPMENT PROJECT AREA

In the City Centre Redevelopment project Area, several projects and programs were initiated and in some cases completed. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

        Completed Phase I of the Burbank Entertainment Village Project (AMC).  Phase I includes a 16-screen, a 4,200 seat, state-of-the-art-movie-theater with stadium seating, stores and restaurants.  Tenant improvements for the retail and restaurants are underway.  Preliminary plans for Phase II have been received.  Construction is anticipated by late 2004.

 

        Completed demolition of the Old Police Block site.  Two projects will be simultaneously completed on the site.  The first project is the Burbank Civic Plaza, a 4-story, 83,000 sq. ft. office and ground floor retail development.  The project is scheduled to commence construction by the end of the year, and be completed by spring of 2005.  The other portion of the project is a 140-unit for-sale luxury residential development with approximately 14,000 sq. ft. of commercial space.  The commercial space will include a destination restaurant, and retail uses.  The project is also scheduled to begin construction by the end of the year, to be complete by spring of 2005.

 

        Working to revitalize the Media City Center Mall with the new owners.  There are several leasing and renovation options that are being analyzed in order to enhance the performance of the mall.  As a part of this revitalization effort, P.F. Chang�s will be occupying space on the first floor along the Magnolia frontage, near the main entrance of the mall.

 

        Established a Property-based, Business Improvement District (PBID) to assist with the revitalization efforts in Downtown Burbank.  In addition, marketing efforts continue and special events have been held in downtown to attract people to the area.

 

        Developing Wayfinding signs that will help guide visitors off the Interstate 5 Freeway, help shoppers navigate to the major destinations in Downtown, and direct traffic toward the public parking structures (the parking structure signage is in process as demonstrated by the AMC parking structure). 

 

GOLDEN STATE REDEVELOPMENT PROJECT AREA

In the Golden State redevelopment project, area staff continues to monitor and coordinate projects and programs including:

 

        Reviewing and monitoring the recycling of the old Costco site to a Vallarta Supermarket and shopping Center;

 

        Monitoring landscaping and public infrastructure improvements to the Empire Avenue corridor;

 

        Initiated a signage program for Empire Avenue corridor;

 

        Monitoring entitlement process for the Howard Business Park;

 

        Continued implementation of the Media Studios North project to complete the final 180,000 sq. ft. of the office development, and the off-site improvements pursuant to the DDA; and

 

        Continued working with the broker for the lease-up of the Airport Plaza Office building completed earlier this year.

 

SOUTH SAN FERNANDO REDEVELOPMENT PROJECT AREA

Staff continues to coordinate several projects and programs in the South San Fernando Redevelopment project area including:

 

        Monitoring and working toward the recycling of the ITT site, an 11-acre, contaminated, former aerospace facility;

 

        Working towards a utility undergrounding plan;

 

        Continued coordination with the City toward site assembly and the development of Robert Ovrom Park;

 

        Continued with the design of the South San Fernando Boulevard Streetscape Project; and

 

        Continued the "master planning" of the Varney Moss Study Area; completed the traffic and circulation study, and working with several property owners on expansion plans.

 

WEST OLIVE REDEVELOPMENT PROJECT AREA

In the West Olive redevelopment project, area staff continues to monitor and coordinate projects and programs including:

 

        Monitoring the development of the South Triangle project.  During the reporting period, additional tenants signed leases for Phase I that was completed last year.  Phase II construction documents have been submitted to plan check;

 

        Monitoring the pre-development activities for the Bob Hope Project located on a portion of the North Triangle site; and

 

        Monitoring the SR 134 Freeway and Substation project.

 

HOUSING ACTIVITIES

During the last year, several housing projects received final approval, commenced construction, and in some cases were completed.  In addition, staff continues to implement several housing programs that continue to increase the number of housing units available to very low, low and moderate-income households.  The following is a summary of the Agency�s housing activity.

 

        Continued extending financial assistance to the Burbank Housing Corporation (BHC) to acquire and rehabilitate rental housing projects in the Elmwood, Lake-Verdugo and Golden State and Peyton-Grismer focus neighborhoods.   

 

Funds were committed to the following projects during the reporting period, increasing the number of BHC-owned units affordable to lower or moderate-income renter households to over 180 units plus two activity centers to enhance services to tenants.

 

Burbank Housing Corporation Properties

Total Units

 

 

1721 Elliott Drive

7

 

3030 Thornton Avenue

1

 

Total Affordable Units

8

 

 

 

 

 

 

        During the past fiscal year under the Agency�s Residential Rehabilitation Program, 18 owner-occupied single-family dwellings were rehabilitated totaling $364,298 and 39 renter units were improved with $394,314 in Agency loans.  A significant number of the assisted single-family homeowners met one or more special needs categories: 12 were elderly households; female heads of house owned 13 units.  Of the 39 assisted rental units, 14 was a female head of household.

 

The following table summarizes by income the assisted units by owner and renter household or tenure.

 

Tenure

Income Category

Totals

Very Low

Lower

Moderate

Owner

5

11

2

18

Renter

23

8

7

38

Totals

28

19

9

56[1]

 

        Under the Home Secure Program (grants for security and safety devices), the Agency assisted 114 households, 73 very low-income and 41 low-income households, of whom 106 were senior heads of household.

 

        The groundbreaking ceremony for the Burbank Senior Artists Colony � a 141 unit senior housing project � was held in July 2003.  The project is now under construction, and is scheduled to be complete in January 2005.

 

        The developer of an 18-unit independent living facility for very low-income disabled persons, the United Cerebral Palsy, was notified by the U. S. Department of Housing and Urban Development that $2.4 million in federal Section 811 funds were reserved for the Project, the Burbank Accessible Apartments to be constructed on an Agency-held site at 600 South San Fernando Boulevard.

 

        During the reporting period, the Cottages residential project was under construction.  The project made available 10 of the 20 units affordable to moderate-income households.  The project has since been completed, and the childcare component is anticipated to be completed in January 2004.

 

 

 

 

 

 

 

 

 

 

 

        During the reporting period, the townhome and condos on Riverside Drive were completed.  The project made available 10 of the 20 units available to moderate-income households. 

 

        The Agency continued negotiations with The Olson Company for the construction of 33 for-sale units at the Lance site.

 

        During the reporting period, the Agency worked on the predevelopment activities for the Peyton-Grismer Housing Rehabilitation project. The Agency acquired and cleared three rental units at 1819 Grismer Avenue as the site for the future Peyton-Grismer Activity Center and initiated condemnation action affecting 84 units at 1815-1819 Grismer Avenue and 12 units at 1729-1735 Elliott Drive.    On September 23, 2003 the Burbank Redevelopment Agency approved a DDA with the BHC under which BHC will oversee the transformation of a substandard 96-unit area into a substantially rehabilitated 70-unit, mixed-income residential project with a portion of the units affordable to very low-income and lower income households.  BHC is also to construct and operate the Peyton-Grismer Activity Center for project residents.

 

Finally, staff has been working on several other projects including: implementing the objectives and programs of the Blue Ribbon Task Force on Affordable Housing including working with a focus group to craft an Inclusionary Housing Ordinance; working on the design phase for the re-use of the Old Buena Vista Library site to be used as a Childcare facility and Family Resource Center; coordinating the merging of the Golden State, City Centre and South San Fernando Redevelopment Project Areas; continuing further parking improvements and marketing efforts, programs and special events for Magnolia Park; working on economic development activities including citywide marketing efforts, the Mayor�s Business Outreach program, the development of a business assistance center, community outreach activities; and taking the lead in the Development Impact Fee Nexus Study.

 

A copy of the Annual Report was available for review beginning December 8, 2003 at the Burbank Redevelopment Agency's public counter at 141 North Glenoaks Boulevard, and the Central Public Library located at 110 North Glenoaks Boulevard.  Copies have been available for review and purchase at the City Clerk's Office.

 

FISCAL IMPACT

There is no fiscal impact associated with this report.

 

RECOMMENDATION

Staff recommends that the City Council adopt the proposed resolution accepting the Fiscal 2002-03 Annual Report of Financial Transactions of the Burbank Redevelopment Agency and authorizes staff to file the Annual Report with the State Controller's Office.

 

EXHIBITS

Exhibit A         Annual Report for Fiscal 2002-2003


 


[1] One vacant rental unit at time of reporting 

 

 

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