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1"woIll"( /111, �mm"Iloll <br />I d <br />FINANCIAL IMPACT <br />During the first year of participation, the cost to Colton will be $65,340, year 2 will be $20,691 <br />and years 3 through 14 will be just over $19,000. Approximately 4% may be charged to two of <br />Colton's redevelopment project areas, leaving an unfunded balance of $62,720 in year 1 alone. <br />Table 4 — Fundinci Sources <br />ENVIRONMENTAL IMPACT <br />N/A <br />CONFLICT OF INTEREST <br />N/A <br />RECOMMENDATION <br />Staff recommends denial of the attached Resolution authorizing execution of a Memorandum of <br />Understanding between Colton, San Bernardino, the County and IVDA to enable application of <br />a new enterprise zone. <br />The MOU and Resolution are attached should Council wish to proceed with participation in the <br />SBVEZ. In that case it is recommended that Council approve the MOU and Resolution in <br />substantially the forms as provided pending review of legal council. <br />Attachments: <br />Exhibit "A" - Map <br />Exhibit "B" — City Resolution <br />Report Prepared by: Judith Clarke, Senior Project Manager <br />REVIEW TEAM ONLY <br />City Attorney: -IJ -Hgll�vl Finance Director: <br />City Manager: Agency Special Coun��d_ <br />1� ' \�Illllll I'll .1011 .11 \11 L I'll 11 '00(1 %]"[111 \,I I I I � 'I , ( , I / \I( �1 �l I I P , !I, III I 1� <br />Acres <br />Yr 1 <br />Yr 2 <br />�Lr_3 <br />Yr 4 <br />Yr 5 <br />Total <br />6581 <br />$65,340 <br />$20,691 <br />$19,239 <br />$19,602 <br />$19,631 <br />WV Amendment <br />170.15 <br />2.59% $1,692 <br />$536 <br />$498 <br />$508 <br />$508 <br />RMill <br />93.32 <br />1.42% $928 <br />$294 <br />$273 <br />$278 <br />$279 <br />Unfunded Balance <br />$62,720 <br />$19,861 <br />$18,468 <br />$18,816 <br />$18,844 <br />ENVIRONMENTAL IMPACT <br />N/A <br />CONFLICT OF INTEREST <br />N/A <br />RECOMMENDATION <br />Staff recommends denial of the attached Resolution authorizing execution of a Memorandum of <br />Understanding between Colton, San Bernardino, the County and IVDA to enable application of <br />a new enterprise zone. <br />The MOU and Resolution are attached should Council wish to proceed with participation in the <br />SBVEZ. In that case it is recommended that Council approve the MOU and Resolution in <br />substantially the forms as provided pending review of legal council. <br />Attachments: <br />Exhibit "A" - Map <br />Exhibit "B" — City Resolution <br />Report Prepared by: Judith Clarke, Senior Project Manager <br />REVIEW TEAM ONLY <br />City Attorney: -IJ -Hgll�vl Finance Director: <br />City Manager: Agency Special Coun��d_ <br />1� ' \�Illllll I'll .1011 .11 \11 L I'll 11 '00(1 %]"[111 \,I I I I � 'I , ( , I / \I( �1 �l I I P , !I, III I 1� <br />