CC – 2024-14 – Consent to Inclusion of 126 N View Ave, Monterey Park, Partially Located in Rosemead, in the CSCDA Open Pace Program; Authorize the CA Statewide Communities Development Authority To Accept An Application From The Owner, Conduct ContractualRESOLUTION NO. 2024-14
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD,
CALIFORNIA CONSENTING TO THE INCLUSION OF THE PROPERTY LOCATED
AT 126 NORTH NEW AVENUE, MONTEREY PARK, CALIFORNIA, WHICH IS
PARTIALLY LOCATED IN THE CITY OF ROSEMEAD, IN THE CSCDA OPEN PACE
PROGRAM; AUTHORIZING THE CALIFORNIA STATEWIDE COMMUNITIES
DEVELOPMENT AUTHORITY TO ACCEPT AN APPLICATION FROM THE
OWNER OF SUCH PROPERTY, CONDUCT CONTRACTUAL ASSESSMENT
PROCEEDINGS AND LEVY CONTRACTUAL ASSESSMENTS ON SUCH
PROPERTY; AND AUTHORIZING RELATED ACTIONS
WHEREAS, the California Statewide Communities Development Authority (the
"Authority") is a joint exercise of powers authority, the members of which include numerous cities
and counties in the State of California, including the City of Rosemead (the "City"); and
WHEREAS, Chapter 29 of Division 7 of the Streets & Highways Code ("Chapter 29")
authorizes the Authority to establish voluntary contractual assessment programs to finance or
refinance renewable energy, energy efficiency, water efficiency and seismic strengthening
improvements, electric vehicle charging infrastructure and such other improvements,
infrastructure or other work as may be authorized by law from time to time (collectively, the
"Improvements") through the levy of contractual assessments within counties and cities
throughout the State of California that consent to the participation of properties within their
respective territories and the issuance of bonds from time to time; and
WHEREAS, for the purpose of providing financing and refinancing for the Improvements,
the Authority has established the CSCDA Open PACE Program; and
WHEREAS, the Authority has designated multiple third -party program administrators to
administer the CSCDA Open PACE Program, including Bayview PACE (including its affiliates,
"Program Administrator"); and
WHEREAS, the owner (the "Participating Property Owner") of the property located at
126 North New Avenue, Monterey Park, California (the "Participating Property"), which currently
consists of a single legal parcel that is primarily in the City of Monterey Park and partially in the
City of Rosemead, has asked the Authority and Program Administrator to provide financing
through the CSCDA Open PACE Program for the installation of Improvements on the
Participating Property as part of the construction on the Participating Property consisting of a 63 -
unit multi -family and condominium project (the "Project'), and the City desires to allow the
Participating Property Owner to participate in the CSCDA Open PACE Program and to allow the
Authority to conduct assessment proceedings under Chapter 29 within its territory and to issue
bonds to finance or refinance the installation of Improvements on the Participating Property; and
WHEREAS, the City of Monterey Park previously authorized the Authority to conduct
assessment proceedings under Chapter 29 on properties located within the City of Monterey Park;
and
WHEREAS, the Authority will conduct all assessment proceedings under Chapter 29
for the Participating Property and issue any bonds related to the Participating Property, and the
City will not be responsible for the conduct of any assessment proceedings; the levy of
assessments; any required remedial action in the case of delinquencies in such assessment
payments; or the issuance, sale or administration of any bonds issued in connection with the
Participating Property.
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Rosemead,
California, as follows:
SECTION 1. The City Council hereby finds and determines that the foregoing recitals
are true and correct, are incorporated herein, and by this reference are made an operative part
hereof.
SECTION 2. The City Council hereby finds and declares that the Participating Property
will benefit from participating in the CSCDA Open PACE Program and, pursuant thereto, the
conduct of special assessment proceedings by the Authority pursuant to Chapter 29 and the
issuance of bonds to finance or refinance the installation of Improvements on the Participating
Property.
SECTION 3. The City hereby consents to the conduct of special assessment proceedings
by the Authority pursuant to Chapter 29 on the Participating Property and the issuance of bonds to
finance or refinance the installation of Improvements on the Participating Property; provided, that:
(A) the Participating Property Owner, who shall be the legal owner of such property,
executes a contract pursuant to Chapter 29 and complies with other applicable provisions
of California law in order to accomplish the valid levy of assessments; and
(B) the City will not have any financial obligations or be responsible for the conduct
of any assessment proceedings; the levy of assessments; any required remedial action in
the case of delinquencies in such assessment payments; or the issuance, sale or
administration of any bonds issued by the Authority in connection with the Participating
Property.
SECTION 4. The City Manager or designee is hereby authorized and directed to execute
and deliver such certificates, requisitions, agreements and related documents as are reasonably
required by the Authority to implement the authorization accomplished by this Resolution. The
City Manager or designee is hereby designated as the contact persons for the Authority in
connection with the CSCDA Open PACE Program.
SECTION 5. The City Council hereby finds that no environmental review is required
under the California Environmental Quality Act ("CEQA") in connection with the adoption of this
Resolution because, on July 21, 2021, pursuant to Resolution No. 12259, the City Council of the
City of Monterey Park adopted a Mitigated Negative Declaration for the Project.
SECTION 6. This Resolution shall take effect immediately upon its adoption. The City
Clerk is hereby authorized and directed to transmit a certified copy of this resolution to the
Secretary of the Authority at: Secretary of the Board, California Statewide Communities
Development Authority, 1400 K Street, Sacramento, CA 95814.
PASSED, APPROVED, AND ADOPTED this 23th day of April, 2024.
APPROVED AS TO FORM:
lea-chel City Attorney
I
FAUN IIN1
Ericka Hernandez, City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) §
CITY OF ROSEMEAD )
I, Ericka Hernandez, City Clerk of the City Council of the City of Rosemead, California,
do hereby certify that the foregoing City Council Resolution, No. 2024-14, was duly adopted
by the City Council of the City of Rosemead, California, at a regular meeting thereof held on
the 23rd day of April, 2024, by the following vote, to wit:
AYES: ARMENTA, CLARK, LOW, LY
NOES: NONE
ABSENT: DANG
ABSTAIN: NONE
Ericka Hernandez, City Clerk