Press Alt + R to read the document text or Alt + P to download or print.
This document contains no pages.
CDA Resolution 83-5RESOLUTION NO. 83-5
A RESOLUTION OF DETERMINATION AND OF INTENTION
TO UNDERTAKE PROJECT INCLUDING THE PROVISION
OF REVENUE FINANCING FOR DYSAN CORPORATION
COMMUNITY DEVELOPMENT AGENCY
OF THE CITY OF GILROY
RESOLVED, by the Community Development Agency of the City of
Gilroy, California, that
WHEREAS, by Resolution of Acceptance of Application of Dysan
Corporation adopted this date by this Agency, this Agency has accepted
the application (the "Application") of Dysan Corporation (the "Company")
for further processing pursuant to the Community Redevelopment Law
(Division 24, Part 1 commencing with Section 33000 , Health and Safety
Code) (the "Redevelopment Law");
NOW, THEREFORE, IT IS DETERMINED AND ORDERED AS FOLLOWS:
1. The Project
The Company proposes to acquire about 50 acres of land
shown on a map entilted "Parcel Map in the City of Gilroy, of the County
of Santa Clara, State of California, Division of Parcels 1 and 2, Book
486 of Maps, Pages 25 and 26, Portion of Las ~nimas Rancho, August,
1983," on file in the office of the City Clerk, to cause said land to be
developed over a period of several years, first with a building of about
45,000 square feet, parking, landscaping and other improvements, then
with a building of about 110,000 square feet, and to cause the same to
be equipped and furnished, as more particularly identified by the
exhibits attached hereto entitled "Santa Teresa Technology Park," "North
Elevation at Main Entrancel .... West Elevation", and untitled. The
proposed project (the "Project") includes so much of the above as can be
undertaken by means of revenue financing the interest on which is exempt
from federal income taxes. The Company proposes that it or a subsidiary
or other company designated by it use the real and personal property to
be acquired by means of the Project (the "Facilities") as a plant for
light manufacturing.
o
Project Costs and Financing
The Total Estimated Project Cost is $10,000,000. For the
purpose of paying the Project Costs, the Authority shall provide revenue
financing under the Redevelopment Law in principal amount adequate to
finance the Project, the maximum amount of which is currently
RESOLUTION NO. 83 - 5
estimated at $10,000,000 (the "Financing"). Other terms of the
Financing, the methods of providing for the security and payment of the
Financing and the obtaining of the Financing shall be as stated by'the
Company in the Application for Industrial Revenue Bond Financing and as
shall be agreed upon between the Authority and the Company. To the
extent Financing in an amount sufficient to pay or reimburse Total
Project Costs is not obtained, the Company will pay the other amounts
required.
Project Completion
The Project is estimated to be completed or available for
use in the ensuing year, and Financing to pay or reimburse the Company
therefor is proposed to be obtained prior to the expiration of one year
after the first placing in service of the Facilities. Expenditure of
proceeds of the Financing to pay or reimburse all Project costs and
expenses shall be supervised to assure proper application to the
Project.
Project Benefits
It is likely that the undertaking of the Project will be a
substantial factor in aiding in the development of an area within the
City currently under study for redevelopment. In addition, the Company
states that it expects that about 100 persons will be employed upon
completion of the first building, and at least that number of employees
additional upon completion of the second building. Consequently, public
benefits from the use of the Facilities likely will substantially exceed
any public detriment from prOvision of the Financing in the proposed
principal amount.
Neither the completion of the Project nor the operation
of the Facilities will have the proximate effect of relocation of any
substantial operations of the Company from one area of the State to
another or in the abandonment of any substantial operations of the
Company within other areas of the State.
Project Qualification
The Project, including the provision of revenue financing,
is otherwise in accord with the purposes and requirements of the
Redevelopment Law.
RESOLUTION NO. 83 - 5
-2-
6. Intention
It is the intention of this Authority to undertake the
Project for the Company, including the provision of Financing, on the
terms and conditions set forth in this resolution and as authorized by
the Redevelopment Law.
0
Supercession
Upon provision of the Financing by issuance of revenue
obligations or otherwise, in the event of any inconsistency between the
terms hereof and the terms of the financing agreements, bonds, or other
agreements or instruments, the provisions of such financing agreements,
bonds, or other agreements or instruments shall control.
8. Amendments
This resolution may be supplemented, amended, or revoked,
in whole or in part, from time to time or'at any time by this Authority
without the incurrence of liability to the Company, or any other person.
Introduced at the meeting of the Community Development Agency of
the City of Gilroy held on 6th day of September_, 1983, by Director
~a~e who moved its adoption and passage, which motion was
carried After befng duly seconded, and passed by the following vote:
AYES: Directors:
NOES: Directors:
ABSENT: Directors:
SECONDED: Director:
ALBERT, GAGE, HUGHAN, VALDEZ and LINK.
None
TAYLOR and GOODRICH
APPROVED:
Vice Chai rm~-n ~
RESOLUTION NO. 83 - 5
-3-
FRIZZELL
H I L L
N, KI' RHOUSE
BEAUBOIS
ARCHITECTS
EXHIBIT "A"
Santa Teresa Technology Park
As a master planned light industrial community, Santa Teresa
Technology Park will develop a quality-controlled business environ-
ment at the foot of the Santa Cruz Mountains. Located in the City
of Gilroy on a ninety-six acre site, the complex is situated on
Santa Teresa Boulevard and is easily accessible to U.S. 101.
The location and spacious park-like atmosphere will make Santa
Teresa Technology Park a pleasant and productive place to work; an
exacting set of guidelines for architecture, landscaping and environ-
mental graphics will establish a continuity of design and quality
throughout the project.
The Dysan Corporation, a major investor in the project, plans to
create a warm professional environment blending with the natural
landscape of the area by'using landscaped interior atrium spaces,
weathered redwood exterior sides and verdigris copper roofing in its
first phase one and one-half story, 45,000 square foot building. The
use ot steppe~ roofs an~ walls will break the monotomy of large
industrial spaces and give a human'scale to the buildings appropriate
to the smaller scale of existing buildings in the City of Gilroy. In
conjunction with the architecture, extensive landscaping is planned
to provide view corridors to the City from the Santa Teresa Boulevard,
visual buffer zones from roads, and shared open spaces to provide a
pleasantly landscaped amenity for the population of the Santa Teresa
Technology Park.
The attention to design, detail and construction standards planned
for the Park will highlight the individual corporate identities within
the context of the creative application of architecture, landscaping
and graphics and will contribute to an atmosphere conducive to a high
level of achievement.
RESOLUTION NO. 83 - 5