HomeMy WebLinkAboutORD 484ORDINANCE NO. 484
AN ORDINANCE OF THE CITY OF PALM DESERT
ESTABLISHING CERTAIN LIMITATIONS IN CONNECTION
WITH THE REDEVELOPMENT PLAN FOR PROJECT AREA
NO. 1 OF THE PALM DESERT REDEVELOPMENT AGENCY
The City Council of the City of Palm Desert does ordain
as follows:
Section 1. As used in this Ordinance, the following
terms shall have the following meanings:
A. "Project Area" means Project Area No. 1 of the Palm
Desert Redevelopment Agency, as described and defined in the
Redevelopment Plan approved and adopted by Ordinance No. 80 of the
City of Palm Desert, and does not include any territory added to such
Project Area No. 1 subsequent to July 16, 1975 (the date of adoption
of such Ordinance No. 80).
B. "Redevelopment Plan" means the Redevelopment Plan
approved and adopted by Ordinance No. 80 of the City of Palm Desert,
and does not include any amendments made to such Redevelopment Plan
subsequent to July 16, 1975 (the date of adoption of such Ordinance
No. 80).
C. "Taxes" means taxes allocated to the Palm Desert
Redevelopment Agency pursuant to California Health and Safety Code
Section 33670(b).
Section 2. The number of dollars of taxes which may be
divided and allocated to the Palm Desert Redevelopment Agency from
the Project Area pursuant to the Redevelopment Plan is seven hundred
and fifty-eight million dollars ($758,000,000.00).
Section 3. The time limit on the establishing of
loans, advances and indebtedness to finance in whole, or in part, the
redevelopment project described in the Redevelopment Plan is forty-
five (45) years from the date of adoption of this Ordinance.
ORDINANCE NO. 484
Section 4. The time limit for commencement of eminent
domain proceedings to acquire property within the Project Area is
twelve (12) years from the date of adoption of this ordinance.
PASSED, APPROVED AND ADOPTED this llth day of December,
AYES: CRITES, SNYDER, WILSON, BENSON
NOES: NONE
ABSENT: KELLY
ABSTAIN: NONE
AL,
CHA D S. KELLY, MAYOR
y JEAN M. BENSON, MAYOR PRO TEMPORE
ATTEST:
J-d/
HEILA R. GI GAR, CIT LERK
CITY OF PALM DESERT, C FORNIA