The Manteca Redevelopment Agency is dead.
And as with many deaths there are assets that have to be distributed.
That is why the Manteca City Council on Tuesday is being asked to approve four agreements with the Successor Agency — the executors of the RDA “estate” — to distribute more than $42 million in remaining RDA funds.
The projects that would be funded include:
*widening the Union Road overpass across the 120 Bypass to four lanes.
*improving community parks which in Manteca includes Woodward, Northgate and Lincoln.
*the creation of an interchange at McKinley Avenue and the 120 Bypass by adding on and off ramps.
*the extension of Milo Candini Drive to Yosemite Avenue.
The money is from the $50.7 million RDA bond issuance in 2005.
The state has agreed that the money left from that bond legally belongs to the City of Manteca but must be used for projects outlined in the bond issuance documents that included the four mentioned above.
Property owners in the RDA have been paying taxes to repay the debt since 2005. When the state took over the RDA funds after shutting down agencies statewide, it was determined the state had no legal authority to keep the money. What the state is taking are RDA property taxes collected every year above and beyond what is needed to meet ongoing RDA debt as well as cover contracted costs such as for municipal parking lot leases until such time the agreements expire.
The two interchange projects are considered undertakings that would help stimulate the economy. There is an extensive area of land zoned for commercial development along the south side of the 120 Bypass near Union Road in addition to Bass Pro and the Promenade Shops at Orchard Valley.
An interchange at McKinley Avenue would provide an essential second access to some 140 acres that the city owns that they’d like to see developed as a family entertainment zone. Within that is a 30-acre site where Great Wolf Resorts is interested in building a 400-room resort hotel with an indoor water park and conference center directly west of Costco. They city also owns that land.
The interchange would also serve residential and commercial development planned along the McKinley Avenue corridor south of the 120 Bypass.
The city also has plans on the drawing board to develop land it owns east of the wastewater treatment plant as a business park. Extending Milo Candini Drive would open that property to development.
Although no specific community park projects are mentioned in the documents the City Council is considering when they meet Tuesday at 7 p.m. at the Civic Center at 1001 W. Center St., the city had a long list of projects they’ve identified at Woodward Park. They range from tennis courts and an amphitheater to baseball fields in the storm retention basin.