R-086-11 - 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 WHEREAS, participation in the Alternative Voluntary Redevelopment Program requires the City to pay certain dollar amounts annually, based on formulas set forth in California Health and Safety Code Section 34194 ("Community Remittance"), to the County of San Bernardino Auditor -Controller; and WHEREAS, for Fiscal Year 2011-2012 the State of California Director of Finance was required to notify the City by August 1, 2011, of the dollar amount of the Community Remittance payable by the City to participate in the Alternative Voluntary Redevelopment Program for such fiscal year; and WHEREAS, the State of California Director of Finance notified the City, as of August 1, 2011, that the dollar amount of the Community Remittance payable by the City to participate in the Alternative Voluntary Redevelopment Program for Fiscal Year 2011-2012 is Three Million Two Hundred Forty Thousand Nine Dollars ($3,240,009); and WHEREAS, the City has timely filed an appeal of the Community Remittance payment amount for Fiscal Year 2011-2012 with the State of California Director of Finance; and WHEREAS, California Health and Safety Code Section 34194.2, which is currently not effective as a result of the Stay, provides that the City may enter into an agreement with the Agency, whereby the Agency will transfer to the City a portion of the ad valorem property tax revenues allocated and paid by the County of San Bernardino to the Agency in each fiscal year, beginning with the 2011-2012 fiscal year, pursuant to the redevelopment plans for each of the Project Areas and Health and Safety Code Section 33670 ("Tax Increment"), in an amount not to exceed the amount of the Community Remittance for such fiscal year, for the purpose of financing activities within the Project Areas related to the Agency's goals ("Agreement"); and WHEREAS, the City and the Agency desire to enter into the Agreement, with the effectiveness of the Agreement conditioned on the Supreme Court ordering the Stay lifted or modified in a manner that permits the Agency and the City to enter into the Agreement and the City's Ordinance electing to participate in the Alternative Voluntary Redevelopment Program is valid and effective for such purpose, or later ratification or re -adoption of such Ordinance by the City or adoption of a new Ordinance by the City, and in each case, such action is effective to allow the City and the Agency to proceed pursuant to the Alternative Voluntary Redevelopment Program. NOW, THEREFORE THE CITY COUNCIL OF THE CITY OF COLTON DOES HEREBY RESOLVE AND FIND AS FOLLOWS: Section 1. Recitals. The Recitals preceding this Resolution are true and correct and are incorporated into this Resolution. 3