HomeMy WebLinkAboutC-5985(A) - Associate Membership AgreementASSOCIATE MEMBERSHIP AGREEME T (1'
r by and between theai��
CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY
U
and the
CITY OF CITY OF NEWPORT BEACH, CALIFORNIA
THIS ASSOCIATE MEMBERSHIP AGREEMENT (this "Associate Membership
Agreement'), dated as of November 25, 2014 by and between CALIFORNIA ENTERPRISE
DEVELOPMENT AUTHORITY (the "Authority") and the CITY OF NEWPORT BEACH,
CALIFORNIA, a municipal corporation, duly organized and existing under the laws of the State
of California (the "City");
WITNESSETH:
WHEREAS, the Cities of Selma, Lancaster and Eureka (individually, a "Member" and
collectively, the "Members"), have entered into a Joint Powers Agreement, dated as of June 1,
2006 (the "Agreement'), establishing the Authority and prescribing its purposes and powers; and
WHEREAS, the Agreement designates the Executive Committee of the Board of
Directors and the President of the California Association for Local Economic Development as
the initial Board of Directors of the Authority; and
WHEREAS, the Authority has been formed for the purpose, among others, to assist for
profit and nonprofit corporations and other entities to obtain financing for projects and purposes
serving the public interest; and
WHEREAS, the Agreement permits any other local agency in the State of California to
join the Authority as an associate member (an "Associate Member"); and
WHEREAS, the City desires to become an Associate Member of the Authority;
WHEREAS, City Council of the City has adopted a resolution approving the Associate
Membership Agreement and the execution and delivery thereof;
WHEREAS, the Board of Directors of the Authority has determined that the City should
become an Associate Member of the Authority;
NOW, THEREFORE, in consideration of the above premises and of the mutual
promises herein contained, the Authority and the City do hereby agree as follows:
4833-7301-9141.1
Section 1. Associate Member Status. The City is hereby made an Associate Member of
the Authority for all purposes of the Agreement and the Bylaws of the Authority, the provisions
of which are hereby incorporated herein by reference. From and after the date of execution and
delivery of this Associate Membership Agreement by the City and the Authority, the City shall
be and remain an Associate Member of the Authority.
Section 2. Restrictions and Riehts of Associate Members. The City shall not have the
right, as an Associate Member of the Authority, to vote on any action taken by the Board of
Directors or by the Voting Members of the Authority. In addition, no officer, employee or
representative of the City shall have any right to become an officer or director of the Authority
by virtue of the City being an Associate Member of the Authority.
Section 3. Effect of Prior Authority Actions. The City hereby agrees to be subject to and
bound by all actions previously taken by the Members and the Board of Directors of the
Authority to the same extent as the Members of the Authority are subject to and bound by such
actions.
Section 4. No Obligations of Associate Members. The debts, liabilities and obligations
of the Authority shall not be the debts, liabilities and obligations of the City.
Section 5. Execution of the Agreement. Execution of this Associate Membership
Agreement and the Agreement shall satisfy the requirements of the Agreement and Article XII of
the Bylaws of the Authority for participation by the City in all programs and other undertakings
of the Authority.
4333-7301-9141.1 2
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the
dates written below.
APPROVED AS TO FORM:
CITY ATTORNEY'S OFFICE
Aaton C. Harp cAm kOttim
City Attorney
CITY OF NEWPORT BEACH,
a California municipal corporation
Date: i (• 2_C2,
1 �(
By:
Rush N. Hill, II
Mayor
ATTEST: CALIFORNIA ENTERPRISE
Date: DEVELOP NT AUTHORITY
Date:
l g,7t 57,
By: By:
Leilani I. Brown Gur ax Sah6ta, Chair
City Clerk
4833-7301-9141.1
Board of Directors
[END OF SIGNATURES]
January 13, 2014
Leilani I. Brown
City Clerk
City of Newport Beach
100 Civic Center Drive
Newport Beach, CA 92660
Hello Leilani,
Welcome to the California Enterprise Development Authority! By joining this joint -powers authority, the City
of Newport Beach is in good company as the 119"' Associate Member of CEDA since our inception in 2006.
In that time, communities across the state have realized the value of supporting their local employers
through tax-exempt financing.
As a member of CEDA, Beaumont now offers the following suite of tax-exempt financing opportunities to its
businesses:
• Non -Profit Bonds—non-profit businesses within your jurisdiction can enjoy the benefits of tax-
exempt financing on projects with a minimum value of $1.5-2M. These projects can include new
construction, land acquisition, and equipping as well as the refinancing of existing debt.
• Industrial Development Bonds—manufacturing businesses in your community may use the IDB
proceeds on equipment and facilities directly related to manufacturing. These projects must have a
minimum value of $2M and a maximum value of $10M, with total project costs not to exceed $20M.
• Property -Assessed Clean Energy—PACE bonds allow commercial property owners to finance
energy efficiency improvements on their facilities and attach the repayment of those activities to the
physical property. Eligible improvements include green roofs, solar panels, and much more.
With over $1 billion issued since 2006, CEDA has a proven track record of helping California employers
succeed in reducing operating costs in a competitive marketplace. If you would like a press release template
to promote your CEDA Associate Membership to your community and businesses and non -profits, please
contact Michelle Stephens at 916.448.8252 x12 or michelle@caled.org.
For more information on how you can work with CEDA, please visit our website at www.ceda.caled.org or
contact Michelle Stephens.
Thank you for becoming one of our newest members!
Gurbax Sate
Board Chair
Enclosure: CEDA Associate Member List
City of Eureka
City of Lancaster
City of Selma
CEDA Founding Members (3)
CEDA Associate Members (120)
City of Anaheim
City of Long Beach
City of Anitoch
City of Milpitas
City of Bakersfield
City of Monrovia
City of Beaumont
City of Montebello
City of Carlsbad
City of National City
City of Chico
City of Newport Beach
City of Chowchilla
City of Oakdale
City of Clovis
City of Oakley
City of Commerce
City of Oceanside
City of Concord
City of Orange
City of Cypress
City of Orland
City of Del Mar
City of Oroville
City of Duarte
City of Oxnard
City of Dublin
City of Palmdale
City of EI Cajon
City of Palm Springs
City of EI Segundo
City of Palo Alto
City of Elk Grove
City of Pasadena
City of Encinitas
City of Pittsburg
City of Escondido
City of Poway
City of Fairfield
City of Rancho Cordova
City of Foster City
City of Rancho Palos Verdes
City of Fremont
City of Redlands
City of Fresno
City of Redondo Beach
City of Gardena
City of Redwood City
City of Grand Terrace
City of Reedley
City of Greenfield
City of Richmond
City of Hayward
City of Riverside
City of Hawthorne
City of Rolling Hills
City of Hermosa Beach
City of Rolling Hills Estates
City of Imperial Beach
City of Roseville
City of Industry
City of Salinas
City of Inglewood
City of San Clemente
City of King City
City of San Diego
City of Kingsburg
City of San Jose
City of La Mesa
City of San Marcos
City of Lemon Grove
City of San Mateo
City of Lincoln
City of San Pablo
City of Live Oak
City of Santa Paula
City of Lomita
City of Santee
City of Shafter
As of 1.8.15
City of Simi Valley
City of Solana Beach
City of South Lake Tahoe
City of South Pasadena
City of South San Francisco
City of Stockton
City of Tehachapi
City of Torrance
City of Turlock
City of Upland
City of Vernon
City of Vista
City of Walnut Creek
City of Wasco
City of Waterford
City of Willows
City of Woodside
City of Yuba City
County of Alameda
County of Butte
County of Contra Costa
County of Imperial
County of Kern
As of 1.8.15
Exhibit A
County of Madera
County of Marin
County of Merced
County of Monterey
County of Napa
County of Placer
County of Riverside
County of Sacramento
County of San Bernardino
County of San Diego
County & City of San Francisco
County of San Luis Obispo
County of San Mateo
County of Santa Barbara
County of Santa Clara
County of Sonoma
County of Stanislaus
County of Ventura
County of Yolo
Town of Paradise
Ukiah Redevelopment Agency