This facility is disabled accessible.  Auxiliary aids and services are available for individuals with speech, vision or hearing impairments (48-hour notice is required).  Please contact the ADA Coordinator at (818) 238-5021 voice or (818) 238-5035 TDD with questions or concerns.

 

4:00 P.M. CLOSED SESSION IN CITY HALL BASEMENT LUNCH ROOM/ CONFERENCE ROOM.

 

a.      Conference with Real Property Negotiator:

Pursuant to Govt. Code �54956.8

Agency Negotiator:  Assistant Executive Director/Susan Georgino.

Property:  157 West Linden Avenue.

Parties With Whom City is Negotiating:  Grigorian Karmen and Rafik Bazikian, 663 North Glendale Avenue, Glendale, California  91206.

Name of Contact Person:  Maribel Leyland and Julianne Venturo.

Terms Under Negotiation:  Purchase of property for affordable housing.

 

b.      Conference with Real Property Negotiator:

Pursuant to Govt. Code �54956.8

Agency Negotiator:  Assistant Executive Director/Susan Georgino.

Properties:  159 West Linden Avenue/160 Elm Court.

Parties With Whom Agency is Negotiating:  Donald and Carol Hopp, Post Office Box 45274, Los Angeles, California  90045.

Name of Contact Person:  Maribel Leyland and Julianne Venturo.

Terms Under Negotiation:  Purchase of property for affordable housing.

 

c.      Conference with Real Property Negotiator:

Pursuant to Govt. Code �54956.8

Agency Negotiator:  Assistant Executive Director/Susan Georgino.

Property:  1001 Magnolia Boulevard, Burbank, California.

Party With Whom Agency is Negotiating:  American Red Cross, 1001 Magnolia Boulevard, Burbank, California.

Name of Contact Person:  Susan M. Georgino, Community Development Director.

Terms Under Negotiation:  Possible acquisition.

 

When the Agency reconvenes in open session, the Agency may make any required disclosures regarding actions taken in Closed Session or adopt any appropriate resolutions concerning these matters.

 

 

 

6:30 P.M.

 

                                                                             

INVOCATION:                      

                                         The Courts have concluded that sectarian prayer as part of City

                                         Council meetings is not permitted under the Constitution.

 

FLAG SALUTE:

 

ROLL CALL:

 

 

JOINT MEETINGS WITH THE CITY COUNCIL:

 

1.      CONSIDERATION OF AGREEMENTS BETWEEN THE CITY OF BURBANK, BURBANK REDEVELOPMENT AGENCY AND THE BURBANK HOUSING CORPORATION TO RESTRUCTURE DEBT OF THE BURBANK HOUSING CORPORATION:

 

The purpose of this report is to provide information to the Council and Redevelopment Agency (Agency) Board to consider agreements that will restructure the City�s and Agency�s financing to the Burbank Housing Corporation (BHC) for the residential properties owned and/or leased and operated by BHC as affordable rental housing in the City�s Focus Neighborhoods.

 

The BHC currently operates or is in the process of rehabilitating residential properties containing over 200 rental-housing units within the City�s Focus Neighborhoods.  Each of these properties contains housing units that are affordable to lower and moderate-income households.  In addition to the affordable housing properties, BHC operates four Family Resource Centers within the City�s Focus Neighborhoods.  BHC also owns and manages operations of the BHC Childcare Center.

 

Historically, the Agency has provided financing to BHC to acquire and rehabilitate the affordable housing properties and develop the Family Resource Centers.  Generally, the Agency�s financing has been project specific and predicated upon the minimum amount of public assistance warranted to ensure that the revenues generated from each property are sufficient to operate the property and fund reserves. However, this financing structure does not support BHC�s growing operational needs as they continue to take on new projects and initiate revitalization efforts in the new Lake-Alameda Focus Neighborhood.      

 

Therefore, staff is recommending that the City and Agency restructure their current financing to BHC for the residential properties.  The proposed restructuring actions include the Agency extending financing to BHC to pay off several private mortgage loans and conversion of other Agency loans to residual receipts loans.  These actions will assist BHC to overcome a potential funding shortfall by increasing cash flow for their operations.  In addition, the proposed restructuring provides for a consistent financing and repayment structure for all of the City�s and Agency�s loans to BHC for the residential properties.

 

Recommendation:

 

Adoption of proposed Council resolution entitled:

A RESOLUTION OF THE COUNCIL OF THE CITY OF BURBANK APPROVING AGREEMENTS  AMONG THE CITY, THE REDEVELOPMENT AGENCY OF THE CITY OF BURBANK, AND BURBANK HOUSING CORPORATION RELATING TO THE RESTRUCTURING OF BURBANK HOUSING CORPORATION DEBT.

 

Adoption of proposed Redevelopment Agency resolutions entitled:

1.   A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF BURBANK AMENDING THE FISCAL YEAR 2005-2006 BUDGET TO APPROPRIATE $1,764,000.00 RELATING TO THE RESTRUCTURING OF BURBANK HOUSING CORPORATION DEBT.

 

2.   A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF BURBANK APPROVING AGREEMENTS  AMONG THE AGENCY, THE CITY OF BURBANK AND BURBANK HOUSING CORPORATION RELATING TO THE RESTRUCTURING OF BURBANK HOUSING CORPORATION DEBT.

 

 

2.      AFFORDABLE HOUSING ACQUISITION STRATEGY (FOCUS NEIGHBORHOODS):

 

The purpose of this item is to present to the Council and Redevelopment Agency (Agency) Board a proposed strategy for future housing acquisition and rehabilitation efforts in the City�s Focus Neighborhoods.

 

In July 2003 and May 2005, the Council and Agency Board held study sessions (the later in conjunction with the Planning Board) on the City�s Affordable Housing Program.  Staff explained that at the forefront of the City�s Affordable Housing Program are the approved goals and implementing programs as identified by the Blue Ribbon Task Force on Affordable Housing (formed in 2002 and charged to develop recommendations for increasing Burbank�s inventory of affordable housing). 

 

Since their adoption, steps have been taken to address nearly all of the goals.  Creating community in conjunction with housing has been the number one goal during that time.  Activity/family resource centers in the focus neighborhoods are aimed at providing programming to build healthier families and stronger neighborhoods.  In addition, to assist with this goal, a staff position was created exclusively dedicated toward building community, enhancing community engagement and fostering a more meaningful quality of life for all Burbank residents.  In the past three years, these neighborhoods have seen the early steps of community building and neighborhood synergy taking place through more deliberate communication and very specific outreach efforts.

 

In an effort to encourage balance and variety in housing, in all approved Agency-sponsored residential and mixed-use projects, developers were required to include an affordable housing component (with affordability components ranging between 10 percent and 30 percent).  Furthermore, Redevelopment Law requires that residential development in project areas make 15 percent of the units affordable to low and moderate-income households.  The Agency has surpassed this goal and has a �bank� of units as more affordable units have been provided than statutorily required.  At the same time, Planning and Agency staff have been working with community stakeholders in developing an Inclusionary Housing Ordinance that proposes to require that a certain percentage of units be affordable for all residential development of a specified scale.

 

There are over 2,400 affordable housing units available in the City.  These units have been developed through the following programs:

• Acquisition and Rehabilitation Program in partnership with the Burbank Housing Corporation (BHC) � 165 affordable units;

• Homeownership Program through mixed-income development � 75 units;

• Senior Residential Development including the recent Senior Artists Colony development � 998 units;

• Special Needs Residential Development including the United Cerebral Palsy development � 22 units;

• Rehabilitation Loan Program � 162 units; and,

• Section 8 Voucher Program � 1,014 units.

Based on the current estimate of 43,338 housing units in the community, and the activities described above, 5.6 percent of the City�s housing units are available to very low, low and moderate-income households.  However, other affordable housing may exist, but not necessarily due to the City�s or Agency�s efforts or monitoring. 

 

Assuming the affordable units produced to date remain constant except for efforts through the Acquisition and Rehabilitation Program, staff has developed a housing acquisition strategy that proposes to focus future resources in the acquisition and rehabilitation activities in the focus neighborhoods.  This concentrated effort has proven to revitalize neighborhoods while providing affordable housing.

 

Using housing unit capacity projections outlined in the Land Use Element update currently underway, it is projected that there will be close to 50,000 housing units in the City by the year 2025 (current estimate is 43,338).  Assuming continued acquisition and rehabilitation efforts by the BHC and possible acquisition for homeownership developments, with no change in the other project and program affordable units, the percentage of affordable housing units in the City is estimated to remain about 6 percent.

 

Staff proposes the City and Agency continue to concentrate on implementing acquisition efforts in the Focus Neighborhoods (for both acquisition/rehabilitation projects as well as new homeownership developments).  In addition, staff will continue to implement the Rehabilitation Loan Programs and seek opportunities for future homeownership projects in the Redevelopment Project Areas and City-wide.