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HomeMy WebLinkAboutCC RES 04-113RESOLUTION NO. 04-113 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT MAKING AN ELECTION PURSUANT TO HEALTH AND SAFETY CODE SECTION 33607.5 IN CONNECTION WITH PROJECT AREA NOS. 1, 2, 3 AND 4 RECITALS: A. The City Council of the City of Palm Desert (the "City Council") approved and adopted the Redevelopment Plan (the "Project Area No. 1 Redevelopment Plan") for Project Area No. 1 ("Project Area No. 1") of the Palm Desert Redevelopment Agency (the "Agency") by the City's Ordinance No. 80, adopted on July 16, 1975. B. The City Council approved and adopted the Second Amendment to the Project Area No. 1 Redevelopment Plan by the City's Ordinance No. 275, adopted on November 25, 1981, which Second Amendment added territory to Project Area No. 1 (the "Added Territory"). C. The City Council approved and adopted the Redevelopment Plan for Project Area No. 2 of the Agency ("Project Area No. 2") by the City's Ordinance No. 509, adopted on July 15, 1987. D. The City Council approved and adopted the Redevelopment Plan for Project Area No. 3 of the Agency ("Project Area No. 3") by the City's Ordinance No. 652, adopted on July 17, 1991. E. The City Council approved and adopted the Redevelopment Plan for Project Area No. 4 of the Agency ("Project Area No. 4") by the City's Ordinance No. 724, adopted on July 19, 1993. F. Health and Safety Code Section 33333.6(e)(2) provides that on or after January 1, 2002, a redevelopment plan may be amended by a legislative body by adoption of an ordinance to eliminate the time limit on the establishment of loans, advances and indebtedness, which time limit was required by Health and Safety Code Section 33333.6 prior to January 1, 2002, provided that the agency shall make the payments to affected taxing entities required by Health and Safety Code Section 33607.7. G. Pursuant to Health and Safety Code Section 33333.6(e)(2), the City Council adopted Ordinance No. 1035, adopted on February 27, 2003, Ordinance No. 1036, adopted on February 27, 2003, Ordinance No. 1062, adopted on February 26, 2004, and Ordinance No. 1063, adopted on February 26, 2004, which ordinances amended the Second Amendment and the respective Redevelopment Plans for Project Area Nos. 1, 2, 3 and 4 to eliminate the time limit contained in the Second Amendment and each respective Redevelopment Plan on the establishment of loans, advances and indebtedness. P6401 \0001 \793455.1 1 RESOLUTION NO. 04- 113 H. Pursuant to Health and Safety Code Section 33607.7, with respect to each Project Area and the Added Territory, the Agency shall pay to each affected taxing entity for which a pass -through agreement was not entered into between the Agency and the respective taxing entity prior to January 1, 1994, the amounts required pursuant to subdivisions (b), (c), (d) and (e) of Health and Safety Code Section 33607.5 until the termination of the respective Redevelopment Plan or the Second Amendment, as applicable, calculated against the amount of assessed value by which the current year assessed value exceeds an adjusted base year assessed value. The adjusted base year value shall be the assessed value of the respective Project Area or the Added Territory in the year in which the time limit on the establishment of loans, advances and indebtedness would have taken effect without the amendment described in Paragraph G of the Recitals herein. The Agency shall commence making these payments in the first fiscal year following the fiscal year in which the adjusted base year value is determined. I. Health and Safety Code Section 33607.5(b) provides that in any fiscal year in which the Agency receives tax increments from the respective Project Areas or the Added Territory, the City may elect to receive the amounts authorized by Section 33607.5(b). Health and Safety Codes Section 33607.5(b) provides that the Agency shall pay to the affected taxing entities, including the City if the City elects to receive a payment, an amount equal to 25 percent of the tax increments received by the Agency from the respective Project Area or Added Territory after the amount required to be deposited in the Low and Moderate Income Housing Fund has been deducted. Pursuant to Health and Safety Code Section 33607.5(a)(2), the payments to the affected taxing entities including the City, shall be allocated among the affected taxing entities, including the City if the City elects to receive payments, in proportion to the percentage share of property taxes each affected taxing entity, including the City, receives during the fiscal year the funds are allocated. J. The City Council desires to make an election to receive the amounts authorized pursuant to Health and Safety Code Section 33607.5(b) in connection with the Added Territory and Project Area Nos. 1 2, 3 and 4. NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM DESERT HEREBY FINDS, DETERMINES, RESOLVES AND ORDERS AS FOLLOWS: Section 1. With respect to the Added Territory and Project Area Nos. 1, 2, 3 and 4, the City Council hereby elects for the City to receive the amounts authorized by Section 33607.5(b) commencing with the first fiscal year in which the Agency is required to make payments to affected taxing entities in accordance with paragraph H of the P6401 \0001 \793455.1 2 RESOLUTION NO. 04- 113 Recitals herein and continuing through the last fiscal year in which the Agency receives tax increments from the respective Added Territory and Project Area Nos. 1, 2, 3 and 4. PASSED, APPROVED and ADOPTED this 28th day of October, 2004, by the following vote to wit: AYES: BENSON, CRITES, FERGUSON, KELLY, SPIEGEL NOES: NONE ABSENTS: NONE ABSTAINS: NONE iiij Robert A. Spiegel, ayopi ' ATTEST: Ra ell o Klassen, City leak P6401 \0001 \79345 5 . I 3