BILL NUMBER: AB 650	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  JUNE 2, 2009
	AMENDED IN ASSEMBLY  APRIL 30, 2009
	AMENDED IN ASSEMBLY  APRIL 2, 2009

INTRODUCED BY   Assembly Member Hill
   (Principal coauthor: Senator Yee)

                        FEBRUARY 25, 2009

   An act relating to real property, making an appropriation
therefor, and declaring the urgency thereof, to take effect
immediately.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 650, as amended, Hill. Real property: City of Half Moon Bay.

   The Bergeson-Peace Infrastructure and Economic Development Bank
Act generally sets forth the duties and authority of the California
Infrastructure and Economic Development Bank in administering various
programs for economic development activities in the state. Bank
activities may be funded through the California Infrastructure Bank
Fund, which is continuously appropriated.  
   Existing law establishes the Regional Planning, Housing, and
Infill Incentive Account within the Housing and Emergency Shelter
Trust Fund of 2006 and allocates $200,000,000 for the creation,
development, or rehabilitation to encourage infill development.
Existing law establishes the Habitat Conservation Fund for, among
other things, the acquisition of habitat, including native oak
woodlands, necessary to protect deer and mountain lions, and to
protect rare, endangered, threatened, or fully protected species.
Existing law establishes the State Coastal Conservancy Fund for the
support of coastal conservation, and establishes the San Francisco
Bay Area Conservancy Program Account within the State Coastal
Conservancy Fund, for the purpose of depositing and disbursing funds,
upon appropriation by the Legislature, for the administration and
implementation of the San Francisco Bay Area Conservancy Program.

   This bill would require the  bank   state
 to loan $10,000,000  , $2,500,000 from the Regional
Planning, Housing, and Infill   Incentive Account within the
Housing and Emergency Shelter Trust Fund of 2006, $2,500,000 from
the Habitat Conservation Fund, $2,500,000 from the State Coastal
Conservancy Fund, and $2,500,000 from the San Francisco Bay Area
Conservancy Program Account within the State Coastal Conservancy
Fund,  to the City of Half Moon Bay to purchase certain property
known as the Beachwood Property to assist the city relating to its
settlement of a specified case, which would result in an
appropriation.
   This bill would declare that it is to take effect immediately as
an urgency statute.
   Vote: 2/3. Appropriation: yes. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  (a)  Notwithstanding subdivision (d) of Section
63050 of the Government Code, the Infrastructure and Economic
Development Bank  The state  shall loan ten million
dollars ($10,000,000) to the City of Half Moon Bay  pursuant
to the procedures specified in Article 3 (commencing with Section
63040) of Chapter 2 of Division 1 of Title 6.7 of the Government Code
 to enable the city to purchase certain property known as
the Beachwood Property.  The loan shall carry no interest, shall
be repayable, with repayment beginning five years after the date that
the act adding this section becomes effective, in 20 installments of
equal amounts over a period of 20 years, and shall be paid out of
the following accounts, that are hereby appropriated in the following
amounts: 
    (1) Two million five hundred thousand dollars ($2,500,000)
from the Regional Planning, Housing, and Infill Incentive Account
within the Housing and Emergency Shelter Trust Fund of 2006, pursuant
to subparagraph (A) of paragraph (1) of subdivision (b) of Section
53545 of the Health and Safety Code. 
    (2) Two million five hundred thousand dollars ($2,500,000)
from the Habitat Conservation Fund. 
    (3) Two million five hundred thousand dollars ($2,500,000)
from the San Francisco Bay Area Conservancy Program Account within
the State Coastal Conservancy Fund. 
    (4) Two million five hundred thousand dollars ($2,500,000)
from the State Coastal Conservancy Fund. 
   (b) This loan specified in subdivision (a) is made to assist the
City of Half Moon Bay relating to its settlement agreement in the
case of Yamagiwa v. City of Half Moon Bay (N.D. Cal. 2007) 523 F.
Supp.2d 1036, involving certain property known as the Beachwood
Property in the City of Half Moon Bay.
   (c) Prior to the disbursement of any funds, the City of Half Moon
Bay shall obtain an independent appraisal of the Beachwood Property
that conforms to the Uniform Standards of Professional Appraisal
Practice.
  SEC. 2.  This act is an urgency statute necessary for the immediate
preservation of the public peace, health, or safety within the
meaning of Article IV of the Constitution and shall go into immediate
effect. The facts constituting the necessity are:

   In order to provide timely essential relief to the City of Half
Moon Bay as a result of the settlement agreement in the case of
Yamagiwa v. City of Half Moon Bay, it is necessary that this act take
effect immediately.