CitySLUSD Liaison Highlights 2009 0115

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9°' Grade Campus 2 January 15, 2009 • District shall maintain the school gymnasium including cleaning, routine maintenance and all repairs. City shall repair any damage caused by vandalism to the interior of the school gymnasium caused during the hours the City has control. • District shall pay ongoing utilities, including electricity and other costs associated with the City's use of the school gymnasium. City shall reimburse District an amount sufficient to pay utility costs at a rate of $20 per hour of use the first year. Future rates shall be adjusted to reflect actual costs, but not by more than 5% annually. The Agency and District contemplate entering into a Financing Agreement providing for financial contributions and certain in-kind contributions to the 9th Grade Campus from the Agency. Highlights of the Financing Agreement follow: • The Agency shall contribute $2,257,350 to the Project which includes a $2,170,800 fmancial contribution and $86,550 in in-kind contributions for construction of the gymnasium building, upgrades to the building exterior, curb, gutter and sidewalk work on 138th and Bancroft Avenues, and asphalt improvement to the drop-off area and corner reconfiguration. • Agency shall pay the sum of $535,440 by June 30, 2009. • Agency shall pay the sum of $1,635,360 in annual installments of $327,072 for each of the five fiscal years commencing with FY 2009-10 through FY 2013-14, by June 30th of the fiscal year. • For any fiscal year commencing with Fiscal Year 2009-10 during which the State requires Agency to make an ERAF contribution, Agency shall delay payment by one year. The repayment schedule may be extended for up to five years such that the last payment would be due in Fiscal Year 2018-19. Agency shall have no obligation to pay any portion that remains unpaid as of July 1, 2019. • District shall be responsible for the design, development and construction of the Project. • Without the consent of City, District shall not demolish or undertake alterations or enter into any agreement concerning the use, sale, lease or other conveyance of the gymnasium that would diminish or interfere with the City's rights under the Joint Use Agreement. California Community Redevelopment Law requires that the legislative body make certain findings prior to a redevelopment agency's expenditure of tax increment funds for public improvements. These findings must show that: 1) Public improvements will be of benefit to a redevelopment project area or the immediate neighborhood in which the project is located; 2) No other reasonable method of financing the public improvements is available to the community; 3) Public improvements will assist in the elimination of one or more blighting conditions inside the project area; and 4) Agency assistance for the public improvements is consistent with its current five-year implementation plan. In cases where the public improvement is a publicly owned building, Section 33679 of the Redevelopment Law requires the agency to hold a public hearing following notification and public information requirements.