HomeMy WebLinkAbout1998-11-10; City Council; Resolution 98-368* 0 0
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RESOLUTION NO. 98-368
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD CALIFORNIA
APPROVING THE SELECTION OF A CONSULTANT TO PREPARE A FINANCIAL
FEASIBILITY REPORT, AND REQUIRED FINANCIAL DOCUMENTS FOR THE
FORMATION OF AN INFRASTRUCTURE FINANCING DISTRICT, AUTHORIZING
THE MAYOR TO EXECUTE AN AGREEMENT WITH KEYSER MARSTON,
DESIGNATING THE FIRM OF KANE BALMER BERKMAN AS SPECIAL LEGAL
COUNSEL, AND APPROPRIATING FUNDS.
WHEREAS; The City of Carlsbad has entered into a development agreement
with the LEGO Park Planning, dated January 6, 1996, and
WHEREAS; Section 3.2.7 of said development agreement states that the parties
agree to consider the formation of an Infrastructure Financing District (IFD) to assist
with he funding of public improvements within and around the Carlsbad Ranch project
serving the LEGO park parcel, and
WHEREAS, prior to entering into the process of forming an IFD it is necessary
for the City to test the financial feasibility of the project, and
WHEREAS, if the project is found to be feasible, and the City Council elects to
proceed with the formation of the IFD, state law requires that a formal financing plan be
submitted with the formation documents, and
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WHEREAS the City staff has solicited proposals from firms that are qualified to
provide both a financial feasibility report and a final financial plan as required by state
law, and
WHEREAS , the proposal of Keyser Marston Associates, Inc. has been
determined to most closely meet the City’s needs, and
WHEREAS, the City will require the assistance of legal counsel in the review of
information prepared by Keyser Marston, and in the formation of any subsequent
Infrastructure Financing Districtt,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CARLSBAD CALIFORNIA as follows
I. That the above recitations are true and correct.
2. That the firm of Keyser Marston Associates, Inc. is hereby selected as the City’s
financial consultant for the IFD project.
3. That the Mayor is hereby authorized to execute an agreement with Keyser
Marston for services related to the preparation of a financial feasibility report and
a final financing plan related to the formation of an IFD.
4. That the firm of Kane Balmer Berkman is appointed to be legal counsel to the
City in matters related to the formation of an IFD
~ 5. That the amount of $85,000 is hereby transferred from the City Council’s
Contingency account to the Finance Department miscellaneous professional
services account to fund these financial studies. I
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PASSED AND ADOPTED THIS 10th DAY OF November , 1998,
BY THE FOLLOWING VOTE TO WIT:
AYES: Council Members Lewis, Finnila, Kulchin and Hall
NOES: None
ABSENT: Council Member Ny
ABSTAIN:
CLAUDE A. LEWIS, MAYOR
ATTEST:
1 ALETHA L. RAUTENKRANZ, CITY CLERK
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