1999 AGN SEP 07 I03 - Laserfiche WebLink

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CITY OF COLTON AGENDA REPORT For the City Council Meeting of September 7, 1999 TO: Honorable Mayor and City Councilmembers APPROVAL: Henry Garcia, City Manager FROM: Robb Steel, Redevelopment Directorf, SUBJECT: Introduction and Consideration of Ordinances of The City of Colton, California Amending Certain Time Limitations with Respect to the Redevelopment Plans for the Mt. Vernon Corridor Project, the West Valley Project, and the First Amendment to the West Valley Project. DATE: August 26, 1999 Background AB 1290, also known as the Community Redevelopment Law Reform Act of 1993, established three maximum time limitations for redevelopment plans adopted prior to 1994. Those time limits are as follows: • Establishment of loans, advances and indebtedness: The later of (a) 20 years from plan adoption, or (b) January 1, 2004. • Termination of redevelopment plan: The later of (a) 40 years from plan adoption, or (b) January 1, 2009. • Time limit for repayment of indebtedness: 10 years from the termination of redevelopment plan. AB 1342 (Napolitano), which took effect on January 1, 1999, provides that a redevelopment plan adopted prior to January 1, 1994, that has limitations shorter than the terms provided for in California Health and Safety Code Section 33333.6 (the "California Community Redevelopment Law—"CCRL") may be amended by a legislative body on or after January 1, 1999, but on or before December 31, 1999, to extend the limitation, provided that the plan so amended does not exceed the terms provided for in California Health and Safety Code Section 33333.6. In adopting this ordinance, neither the legislative body nor the agency is required to comply with Section 33354.6 or Article 12 (commencing with Section 33450) or any other provisions of this part relating to the amendment of the redevelopment plans. Item #3