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'?o/, l <br />CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of May S, 1992 <br />TO: Honorable Mayor ity C nc' <br />FROM: a ' R. Zamor , con mic Development Director <br />SUBJECT: Date :May S, 1992 <br />Consider Second Reading And Adoption Of Sales <br />And Use Tax Ordinance For Pkzn__Ias-Glorias---- <br />BACKGROUND: <br />The City Council at its last meeting waived full reading and approved first reading of Ordinance <br />No. 0-11-92. The ordinance amends the Colton Municipal Code to grant credits against sales <br />and use taxes owed to the City relative to the Plaza Las Glorias Project. A recently amended <br />Owner Participation Agreement between the Redevelopment Agency and Plaza Las Glorias for <br />the redevelopment of the Mt. Vernon Shopping Center requires the enactment of the ordinance. <br />Once adopted, it is necessary to proceed to validate the ordinance in the San Bernardino <br />Superior Court. <br />RECOMMENDATION. <br />Staff recommends that the City Council approve second reading and adopt Ordinance No. 0-11- <br />92, by title, as follows: <br />AN ORDINANCE OF THE CITY OF COLTON <br />AMENDING CHAPTER 3.28 OF TITLE 3 OF THE COLTON <br />MUNICIPAL CODE TO GRANT CREDITS AGAINST SALES <br />AND USE TAXES OWED TO THE CITY OF COLTON IN <br />THE AMO UNT OF SALES AND USE TAXES PAID, IF ANY, <br />TO THE COLTON REDEVELOPMENT AGENCY <br />and authorize Best, Best & Krieger, legal counsel, to proceed to validate Ordinance No. 0-11-92 <br />in the San Bernardino Superior Court. <br />- Report prepared by Wendy J. Holland, Economic/Redevelopment Associate <br />Attachments: Ordinance No. 0-11-92 <br />Page 1 of 1 -- - Item No <br />