1986 CC ADJ MIN OCT 16 - Laserfiche WebLink

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2'70 Moved by Councilman Rios, seconded by Councilman Rehrer, to approve the Disposition and Development Agreement between the Redevelopment Agency for the City of Colton and The Price Company for acquisition and sale of property by the Redevelopment Agency to The Price Company, and authorize Vice -Chairman to execute Agreement on behalf of the Agency. Unanimous vote. West Valley Project Sales and Use Tax Ordinances: Ord. No. RDA -0-1-86 Ord. No. 0-15-86 City Manager Benest introduced two ordinances for City Council and Rede,,' velopment Agency consideration and approval, concerning Sales and Use Tax. ° Mr. Benest explained that Ordinance No. RDA -0-1-86 will enact a sales and use tax for the West Valley Project and would allow the Agency to repay the loan from the Price Company. Mr. Benest advised fifty per- cent of the sales and use tax generated by the Price Club site would be used for repayment of the loan, and twenty percent generated from the Project Area must be used to promote housing for low/moderate income families within the City; therefore, the Agency can provide housing and/or public improvements with these funds. Mr. Benest stated Ordinance No. 0-15-86 would grant credit to the Agency for the West Valley Project against sales and use taxes owed to the City, and coincides with Ordinance No. RDA -0-1-86. Mr. Benest concluded Staff recommends First Reading of Ordinance No. RDA -0-1-86 and Ordinance No. 0-15-86. Moved by Councilman Rios, seconded by Councilman Rehrer; to pass First Reading of Ordinance No. RDA -0-1-86 and Ordinance No. 0-15-86, and waive further reading. Unanimous vote. ORDINANCE NO. RDA -0-1-86 - ORDINANCE OF THE REDEVELOPMENT AGENCY FOR (First Reading) �,, THE CITY OF COLTON ENACTING A SALES AND USE TAX ORDINANCE. ORDINANCE NO. 0-15-86 - AN ORDINANCE OF THE CITY OF COLTON AMENDING (First Reading) CHAPTER 3.28 OF TITLE 3 OF THE COLTON MUNICI- PAL CODE TO GRANT CREDITS AGAINST SALES AND USE TAX ORDINANCE NO. RDA -0-1-86. Agreements City Manager Benest reviewed a memorandum -dated October 15, 1986, -con- cerning a Cooperation Agreement among the City of Colton, Redevelopment Agency for the City of Colton, County of San Bernardino, and San Bernardino County Flood Control District for the West Valley Redevelop- ment Project. Mr. Benest outlined the major points of the agreement and referred to City Council Resolution No. R-160-86 and Redevelopment Agency Resolution No. 498, approving the agreement. Moved by Councilman Rios, seconded by Councilman Rehrer, approving Resolution No. R-160-86 and Resolution No. 498,, and authorizing the Mayor and Vice -Chairman to execute Agreement. Unanimous vote. RESOLUTION NO. R-160-86 - RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, APPROVING AN AGREEMENT BY.' AND AMONG THE CITY OF COLTON, THE REDEVELOPME'.' AGENCY FOR THE CITY OF COLTON, THE COUNTY OF SAN BERNARDINO, AND THE SAN BERNARDINO COUNTY' FLOOD CONTROL DISTRICT FOR ALLEVIATION OF FINANCIAL BURDEN OR DETRIMENT CAUSED BY THE WEST VALLEY REDEVELOPMENT PROJECT. RESOLUTION NO. 498 - OCT 16 1986 RESOLUTION OF THE REDEVELOPMENT AGENCY FOR THE CITY OF COLTON, CALIFORNIA, APPROVING AN AGREEMENT BY AND AMONG THE CITY OF COLTON, THE REDEVELOPMENT AGENCY FOR THE CITY OF COLTON, THE COUNTY OF SAN BERNARDINO