HomeMy WebLinkAboutResolution No. 18-7804-Election to Receive Payments Pursuant to Health & Safety Code Sect 33607.5(B) for Downey Redevelopment Plan•1 Itul I [*10 10 103M: 11 ,
RESOLUTION OF i OF OF •
MAKING AN ELECTION • RECEIVE PAYMENTS PURSUANT TO
CALIFORNIAl SAFETY CODE• . 1 FOR
DOWNEY REDEVELOPMENT PLAN (ALSO KNOWN AS DOWNEY PROJECT
NO. I AND DOWNEY PROJECTNO.
WHEREAS, the former Redevelopment Agency of the City of Downey ("Agency")
prepared an amendment to the Redevelopment Plan for the Downey Redevelopment Project
Area, also known as Downey Project No. 1 and Downey Project No. 1/81 Annex (the
"Redevelopment Plan"), to provide for time limitations on establishment of indebtness,
effectiveness of the Redevelopment Plan, and duration of the receipt of tax increment revenues;
and
WHEREAS, Section 33333.6(e)(2) of the Health and Safety Code provides that if an
Agency amends the redevelopment plan to extend the limitations period of a plan adopted prior
to January 1, 1994, and any other limitations that would have applied but for that amendment of
the plan, to increase or eliminate the time limit for the establishment of loans, advances, and
indebtedness to be repaid by the redevelopment agency, or other reasons as provided in
Section 33333.6(e)(2), then the Agency shall make the payment to affected taxing entities
required by Section 33607.7; and
WHEREAS, Section 33607.7 of the Health and Safety Code provides that if the Agency
amends the redevelopment plan, adopted prior to January 1, 1994, to increase or eliminate the
time limit for the establishment of loans, advances, and indebtedness to be repaid by the
redevelopment agency, or lengthens the period during which the redevelopment plan is
effective, and no pass through agreement exists, the amounts required pursuant to subdivisions
(b), (c) (d) and (e) of Section 33607.5 must be paid to each affected taxing entity, including the
City, if the City elects to receive such tax increments; and
WHEREAS, the City of Downey is an affected taxing entity under Section 33607.5;
RESOLVENOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES
HEREBY •'', •
Section 1. Pursuant to Health and Safety Code Sections 33333.6(e)(2) and 33607.5, the
City Council hereby elects to receive its share of the twenty-five percent (25%) tax increment
pass-through payment authorized by Health and Safety Code Section 33607.5(b) commencing,
if not previously commenced the first fiscal year the Agency was required to make such
payments to the affected taxing entities, for the current fiscal year and continuing each fiscal
year thereafter.
Section 2. That the Mayor shall sign and the City Clerk shall certify to the passage and
adoption of this Resolution and thereupon the same shall take effect and be in force.
RESOLUTION NO. 18-7804
PAGE 2
APPROVED AND ADOPTED this 22nd day of May, 2018,
12
SEAN ASHTON, Mayor
ATTEST:
�MA R L 1 �Cl A D �UA R T �EC C
City Clerk
the City of Downey at a regular meeting held on the 22"' day of May, 2018 by the following vote,
to wit:
AYES: Council Members: Pacheco, Saab, Vasquez, Rodriguez, Mayor Ashton
NOES: Council Member: None.
ABSENT: Council Member: None.
ABSTAIN: Council Member: None.
4AL ALIC�IAD6&0E, CMC�
City Clerk