1986 ORD O-16-86 - Laserfiche WebLink

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ORDINANCE NO. 0-16-86 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF COLTON AMENDING THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO.1 WHEREAS, the Redevelopment Agency of the City of Colton prepared a Redevelopment Plan for Redevelopment Project No. 1; and WHEREAS, the City Council of the City of Colton adopted Ordinance No. 1179 approving and adopting the Redevelopment Plan for Redevelopment Project No. 1 on January 15,1964; and WHEREAS, Division 24, Part 1, Chapter 4, Article 4 of the Health and Safety Code of the State of California ("Code" hereinafter) has been amended by the addition of Section 33333.4 which requires redevelopment plans adopted prior to October 1, 1976 to be amended to add a limitation on the number of dollars of taxes which may be divided and allocated to the Agency; a time limit on the establishing of loans, advances, and indebtedness to finance in whole, or in part, the redevelopment project; and a time limit, not to exceed 12 years, for the commencement of eminent domain proceedings to acquire property within the Project Area; and WHEREAS, in accordance with Section 33333.4 of the Code, said financial limits and time limits shall be established by an ordinance of the legislative body on or before December 31, 1986; and WHEREAS, it is the desire of this Council to comply in all respects with the requirements of Section 33333.4 of the Code. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON DOES ORDAIN AS FOLLOWS: 1. The Redevelopment Plan for Redevelopment Project No. 1 is hereby amended by the addition of the following language to Section E.6. of the Plan: Taxes, as defined in Section 33670 of the California Health and Safety Code, shall not be divided and shall not be allocated to the Agency in excess of Thirteen Million Dollars ($13,000,000) from the effective date of this ordinance. 1