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 AGENDA

CITY COUNCIL, COMMUNITY DEVELOPMENT COMMISSION &
PASADENA PUBLIC FINANCING AUTHORITY
OCTOBER 11, 2010 

Closed Session 5:30 P.M.
Public Meeting 6:30 P.M.
Public Hearing 6:30 P.M.
Council Chamber, Pasadena City Hall
100 North Garfield Avenue, Room S249 

A.      CITY COUNCIL CONFERENCE WITH REAL PROPERTY NEGOTIATORS PURSUANT TO GOVERNMENT CODE SECTION 54956.8
Property Location: Rose Bowl Stadium and surrounding parking areas
Agency Negotiators: Darryl Dunn and Michael J. Beck
Negotiating Parties: Tournament of Roses and University of California at Los Angeles (UCLA)
Under Negotiation: Price and terms of payment

 

 

City Clerk/Secretary 

1.         APPROVAL OF MINUTES 

April 12, 2010 (Pasadena Public Financing Authority)

September 27, 2010 (City Council)

September 27, 2010 (Community Development Commission)

 2.         RECEIVE AND FILE CLAIMS AGAINST THE CITY OF PASADENA 

Claim No. 11,207	Barbara and Douglas Hadsell	$       95.00
Claim No. 11,208	Edmund Barnum/Pasadena Republican Club	100.00
Claim No. 11,209	Edward F. Fehrenbacher	1,309.00
Claim No. 11,210	Clara Johnson	9,500.00
Claim No. 11,211	Maria Sandoval	25,000.00+
Claim No. 11,212	Sonia Rivera	1,588.25
Claim No. 11,213	Delbert L. Smith	463.00
Claim No. 11,214	Kenneth Hung	7,000.00

3.         PUBLIC HEARING SET            

November 8, 2010, 7:30 p.m.  – Joint Public Hearing:  Approval of a Substantial Amendment to the 2008-2009 CDBG Annual Action Plan

 

 

Economic Development and Technology Committee 

Finance Committee 

Legislative Policy Committee 

Municipal Services Committee 

Public Safety Committee 

Reports from Representatives 

4.         PUBLIC HEARING: TAX EQUITY AND FISCAL RESPONSIBILITY ACT (TEFRA) AND CALIFORNIA GOVERNMENT CODE SECTION 6586.5 HEARING TO CONSIDER APPROVAL OF ROSE BOWL STADIUM IMPROVEMENTS AND AUTHORIZATION OF LEASE REVENUE BONDS BY THE PASADENA PUBLIC FINANCING AUTHORITY TO FINANCE AND REFINANCE SUCH IMPROVEMENTS LOCATED AT 1001 ROSE BOWL DRIVE
Recommendation: It is recommended that the City Council hold a public hearing as required by (i) Section 147(f) of the Internal Revenue Code of 1986 (the “Code”), which is part of the Tax Equity and Fiscal Responsibility Act (TEFRA); and (ii) Section 6586.5 of the California Government Code, relating to the proposed issuance by the Pasadena Public Financing Authority (the “Authority”) of its lease revenue bonds in one or more series in a maximum aggregate principal amount of $200,000,000 and the proposed reissuance for purposes of U.S. Treasury regulations Section 1.141-12(F)(2) of the Authority’s $47,300,000 original aggregate principal amount of Variable Rate Demand Lease Revenue Bonds, Series 2006. 

805k

SUPPLEMENTAL MATERIAL RECEIVED AFTER POSTING OF AGENDA

CORRESPONDENCE 215k

5.         APPROVAL OF THE ROSE BOWL STADIUM RENOVATION PROJECT AND FINANCING PLAN
Recommendation of City Manager and Rose Bowl General Manager:  It is recommended that the City Council take the following actions related to the Rose Bowl Stadium Renovation Project:
(1)    Approve the Rose Bowl Stadium Renovation Project and Financing Plan;
(2)    Find that the proposed License Agreement with the Regents of the University of California, expiring in 2042, is exempt from the California Environmental Quality Act (CEQA) per Section 15301 Existing Facilities;
(3)    Find that the proposed License Agreement with the Pasadena Tournament of Roses Association, expiring in 2043, is exempt from the California Environmental Quality Act (CEQA) per Section 15301 Existing Facilities;
(4)    Adopt a resolution approving the negotiation, execution and delivery of a license agreement with the Pasadena Tournament of Roses Association, a California non-profit corporation, and certain other actions relating thereto in essentially the form attached to the agenda report;
(5)    Adopt a resolution approving the negotiation, execution and delivery of an  advertising agreement with ISP Sports LLC, a Delaware limited liability company, and certain other actions relating thereto in essentially the form attached to the agenda report;
(6)    Adopt a resolution approving the negotiation, execution and delivery of a license agreement with the Regents of the University of California, a California public corporation, on behalf of the University of California Los Angeles and certain other actions relating thereto in essentially the form attached to the agenda report;
(7)    Adopt a resolution amending the General Fee Schedule to add new fees to the schedule of minimum rents, charges and fees to be charged for the use of the Rose Bowl Stadium levied pursuant to Section 3.32.280 of the Pasadena Municipal Code in essentially the form attached to the agenda report;
(8)    Adopt a resolution of the City Council of the City of Pasadena authorizing the issuance of lease revenue bonds in an amount not to exceed $180,000,000 and the execution and delivery of a first amendment to lease, first amendment to sublease, purchase agreement and certain other actions relating thereto;
(9)     Find that the application of public art fees to be generated by the proposed project to conserving/restoring historic art and design elements of the Rose Bowl Stadium is consistent with the Conservation Clause of the Public Art Guidelines; and
(10) Amend the FY2011-2015 Capital Improvement Program by increasing appropriations for the Rose Bowl Renovation Project (Project No. 84002) by a total of $5,835,176 consisting of:  $3 million in funds from the Rose Bowl Fund, $1.89 million in estimated construction tax revenues, and $945,176 in public art fees.  
Recommendation of Executive Director: It is recommended that the Pasadena Public Financing Authority:
(1)     Adopt a resolution of the Board of Directors of the Pasadena Public Financing Authority authorizing the issuance of lease revenue bonds in an amount not to exceed $180,000,000 and the execution and delivery of a first amendment to lease, a first amendment to sublease, bond indenture, bond purchase agreement, and an official statement, and certain other actions relating thereto.   
Recommendation of City Council Finance Committee:  On October 4, 2010, the Rose Bowl Stadium Renovation Project and Financing Plan were presented to the City Council Finance Committee as an information item.  Although no formal action was requested, the Committee indicated its endorsement of the Project and Plan.
Recommendation of Rose Bowl Operating Company:  A regular meeting of the Rose Bowl Operating Company (RBOC) is scheduled for October 7, 2010, at which time the RBOC is expected to approve actions 1 through 7 outlined above and to recommend the same to the City Council.  Staff will report on the outcome of the RBOC meeting at the City Council meeting.
Recommendation of Arts and Culture Commission:  At a special meeting held on October 6, 2010, the Arts and Culture Commission voted not to recommend to the City Council the staff recommendation to apply public art funds to be generated by the proposed project to conserving/restoring historic elements of the Rose Bowl Stadium, as provided for in the Public Art Guidelines.

2595k

ATTACHMENT A 1963k

ATTACHMENT B 3069k

ATTACHMENT C 334k

ATTACHMENT D 977k

CITY OF PASADENA RESOLUTIONS:
LICENSE AGREEMENT WITH THE PASADENA TOURNAMENT OF ROSES ASSOCIATION 615k

ADVERTISING AGREEMENT WITH ISP SPORTS 651k

LICENSE AGREEMENT WITH THE REGENTS OF THE UNIVERSITY OF CALIFORNIA 699k

GENERAL FEE SCHEDULE 798k

ISSUANCE OF LEASE REVENUE BONDS 852k
     FIRST AMENDMENT  TO LEASE 1087k
     FIRST AMENDMENT TO SUBLEASE 1319k
     BOND PURCHASE AGREEMENT 6831k

PASADENA PUBLIC FINANCING AUTHORITY ISSUANCE OF LEASE REVENUE BONDS RESOLUTION
     FIRST AMENDMENT  TO LEASE 1087k
     FIRST AMENDMENT TO SUBLEASE 1319k
     BOND INDENTURE Part 1 8114k
     BOND INDENTURE Part 2 8613k
     BOND PURCHASE AGREEMENT 6831k
    
     DRAFT PRELIMINARY OFFICIAL STATEMENT Part 1 7666k
     DRAFT PRELIMINARY OFFICIAL STATEMENT Part 2 7993k
     DRAFT PRELIMINARY OFFICIAL STATEMENT Part 3 6195

CORRESPONDENCE 262k

SUPPLEMENTAL MATERIAL RECEIVED AFTER POSTING OF AGENDA

CORRESPONDENCE 2833k

CITY COUNCIL PRESENTATION - PRESENTED AT MEETING

City Council 

6.         APPOINTMENT OF RICHARD LoGUERCIO TO THE PASADENA CENTER OPERATING COMPANY BOARD (Mayor/District 7 Nomination)

Advisory Bodies 

7.         APPROVAL OF AN AMENDMENT TO THE OPERATING AGREEMENT WITH THE ROSE BOWL OPERATING COMPANY (RBOC) REGARDING PHILANTHROPIC EFFORTS AND NAMING RIGHTS OF SPECIFIC STADIUM FEATURES
Recommendation of Rose Bowl Operating Company:  It is recommended that the City Council approve an amendment to the Operating Agreement which would accomplish the following:
(1)     Recognize and establish a philanthropic program to be undertaken by the RBOC, on its own, and with groups such as Legacy Connections (Rose Bowl Legacy campaign), to receive contributions from private sources for Rose Bowl Stadium related preservation projects;
(2)     Allow the RBOC to develop a sponsorship policy to provide naming opportunities for specific Rose Bowl Stadium features for appropriate levels of donor activity, and terms and conditions which protect and enhance the reputation of the Rose Bowl Stadium; and
(3)     Find that the above actions 1 and 2 are exempt from the California Environmental Quality Act (CEQA) per Section 15061(b)(3).    

688k            

First Reading:  None 

Second Reading:  None