2004 ORD O-11-04 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 redevelopment plans; and WHEREAS, it is the desire of the City by this Ordinance to maximize all applicable requirements of Section 33333.6 and Section 33333.2 of the CRL. THE CITY COUNCIL OF THE CITY OF COLTON DOES ORDAIN AS FOLLOWS: SECTION 1. Amending Certain Time Limitations. The Redevelopment Plan for the Mt Vernon Corridor are hereby amended by the addition of certain time limitations as set forth in subsections 1.1 and 1.2, as follows. SECTION 1.1 Terms of Effective Dates of the Redevelopment Plan. The term of effectiveness for the Redevelopment Plans shall be June 30, 2028 for the Mt Vernon Corridor Project Area. After such time limit on the effectiveness of the Redevelopment Plan, the Agency shall still have the authority to pay previously incurred indebtedness and to enforce existing covenants, contracts, or other obligations. SECTION 1.2 Limitations on Receipt of Tax Increment to Pay Certain Debt. Except to the extent a longer period of time may be allowed pursuant to other provisions of the CRL, and as further stated herein, the Agency shall not pay indebtedness or receive property tax increment generated from the redevelopment project area after June 30, 3038 for the Mt Vernon Corridor Project Area. SECTION 2. New Limitations Prevail if Conflict with Existing Limitations. Section 1, and each subdivision thereof inclusive, of this Ordinance shall, to the extent of a conflict, if any, take precedence over those limitations in the Redevelopment Plan concerning such limitations. SECTION 3. Right to Extend Such Limitations. No actions with respect to further extending the time limitations set forth herein pursuant to Section 33333.6 (a) (2) or other provisions of the CRL are being taken at this time, but the right to consider such extension(s) of the time limitations is being reserved. SECTION 4. Compliance with Section 33333.6 and Section 33333.2. The City Council finds and determines amendments to the Redevelopment Plan as adopted by this Ordinance are in compliance with the requirements and time limitations set forth in Section 33333.6 and Section 33333.2 of the CRL. SECTION 5. Redevelopment Plan Otherwise in Full Effect. The Redevelopment Plan is and shall remain in full force and effect, unmodified except to the extent of those particular amendments expressly set forth in this Ordinance. SECTION 6. Publication of Ordinance. The City Clerk is hereby authorized and directed to certify to the passage of this Ordinance and to cause the same to be published with the names of Councilmembers voting for and against the same in a newspaper of general circulation, published and circulated in the City of Colton. RIVPUB/MXM/653630 2