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HomeMy WebLinkAboutReso 2004-126 RESOLUTION NO. 2004-126 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA ELECTING TO RECEIVE ALL OR A PORTION OF THE TAX INCREMENT REVENUES PURSUANT TO HEALTH AND SAFETY CODE SECTION 33676 AND THE CITY'S SHARE OF TAX INCREMENT PURSUANT TO HEALTH AND SAFETY CODE SECTION 33607.5 WITH RESPECT TO THE AMENDED AND RESTATED REDEVELOPMENT PLAN FOR THE MERGED CHULA VISTA REDEVELOPMENT PROJECT AREA WHEREAS, on August 15, 1978, the City Council of the City of Chula Vista ("City Council") adopted Ordinance No. 1827 approving a redevelopment plan for the Town Centre II Redevelopment Project and has subsequently amended said redevelopment plan on May 19, 1987 by Ordinance No. 2207, on July 19, 1988 by Ordinance No. 2274, on November 8,1994 by Ordinance No. 2610, and on August 22, 2000 by Ordinance No. 2817 ("Town Centre II Plan"); and WHEREAS, on December 29, 1983, the City Council adopted Ordinance No. 2059 approving a redevelopment plan for the Otay Valley Road Redevelopment Project and has subsequently amended said redevelopment plan on November 8, 1994 by Ordinance No. 2611 and on August 22, 2000 by Ordinance No. 2818 ("Otay Valley Plan"); and WHEREAS, on November 27, 1990, the City Council adopted Ordinance No. 2420 approving a redevelopment plan for the Southwest Redevelopment Project and has subsequently amended said redevelopment plan on July 9, 1991 by Ordinance No. 2467, on November 8, 1994 by Ordinance No. 2612, and on August 22, 2000 by Ordinance No. 2819 ("Southwest Plan"); and WHEREAS, by Ordinance No. 2819, the Town Centre II Plan, Otay Valley Plan, and Southwest Plan (collectively, the "Plans") were merged to establish the Merged Chula Vista Redevelopment Project to facilitate the sharing of financial resources pursuant to Sections 33485 through 33489 of the California Community Redevelopment Law, Health and Safety Code Section 33000 et seq. ("Law"); and WHEREAS, on January 13, 2004, the City Council adopted Ordinance No. 2947 amending the Plans to eliminate the time limit on incurring indebtedness, pursuant to Senate Bill 211 codified in Health and Safety Code Section 33333.6(e)(2)(B); and WHEREAS, on February 3, 2004, the City Council adopted Ordinance No. 2949 amending the Plans to extend the duration of the plan's effectiveness and time limit to collect tax increment revenue by one year, pursuant to Senate Bill 1045 codified in Health and Safety Code Section 33333.6(e)(2)(C); and WHEREAS, the Redevelopment Agency of the City of Chula Vista ("Agency") is proposing to amend the Merged Chula Vista Redevelopment Project to consolidate the constituent Plans into a single redevelopment plan document, add property to the Merged Chu1a Vista Redevelopment Project Area boundaries, and, subject to certain limitations, extend eminent domain authority in the Town Centre II and Otay Valley constituent project areas, which amendment as generally described above is in the form of an Amended and Restated Resolution 2004-126 Page 2 Redevelopment Plan for the Merged Chula Vista Redevelopment Project Area ("Project Area") which would permit in the allocation of taxes from the Project Area to the Agency for the purposes of redevelopment; and WHEREAS, Section 33676 of the Health and Safety Code provides that prior to the adoption of a redevelopment plan, an affected taxing agency may elect to receive, in addition to the portion of taxes allocated to the affected taxing agency pursuant to Health and Safety Code Section 33670(a), all or any portion of the property tax revenues allocated to the Agency pursuant to Health and Safety Code Section 33670(b) ("Tax Increment") which are attributable to the tax rate increases imposed for the benefit of the taxing agency after the tax year in which the ordinance adopting the redevelopment plan becomes effective ("Increases"); and WHEREAS, for redevelopment plans adopted on or after January I, 1994, Section 33607.5 of the Health and Safety Code provides that in any fiscal year in which a redevelopment agency receives Tax Increment from the Project Area, the community that has adopted the redevelopment plan may elect to receive, and the Agency shall pay to it, an amount equal to twenty-five percent (25%) of the community's proportional share of the Tax Increment received by the Agency after the amount required to deposited in the Low and Moderate Income Housing Fund has been deducted ("City Election"). NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula Vista hereby elects to receive all Increases and the City Election as defined herein with respect to Tax Increment received by the Agency from the Merged Chula Vista Redevelopment Project Area, and directs staff to transmit a copy of this resolution to the Executive Director of the Agency and the Auditor Controller of the County of San Diego. Presented by Approved as to form by lA 'lIÅA~ Ann Moore City Attorney Resolution 2004-126 Page 3 PASSED, APPROVED, and ADOPTED by the City Council of the City ofChula Vista, California, this 20th day of April, 2004, by the following vote: AYES: Councilmembers: Davis, Salas and Padilla NAYS: Councilmembers: None ABSENT: Councilmembers: None ABSTAIN: Councilmembers: McCann, Rindone ATTEST: ~J 1/' I ~~/J:9---' Susan Bigelow, CMC, City lerk STATE OF CALIFORNIA COUNTY OF SAN DIEGO CITY OF CHULA VISTA I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 2004-126 was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 20th day of April, 2004. Executed this 20th day of April, 2004. ~It 19°~ Susan Bigelow, CMC, City C k