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HomeMy WebLinkAboutA2690 - RIVERSIDE CO FLOOD CONTROL DIST TAX INCREMENT PASSTHRU -Riv Co Fld Contrl Distr - PA9 Pass-t. ru tax increment CRA AGR #206 _ CITY AGR #2690 R606, R16727, 4-5-89 1 COOPERATION AGREEMENT BETWEEN THE RIVERSIDE COUNTY FLOG— 2 AND WATER CONSERVATION DISTRICT, THE CITY OF PALM SPRINGS 3 AND PALM SPRINGS REDEVELOPMENT AGENCY 4 THIS AGREEMENT is entered into on the MAY 21BKI) day of 5 1989, by and between the RIVERSIDE COUNTY FLOOD 6 CONTROL AND WATER CONSERVATION DISTRICT, a public agency 7 ( "District" ) , and the PALM SPRINGS REDEVELOPMENT AGENCY, a public 8 body ( "Agency" ) , and THE CITY OF PALM SPRINGS, a municipal 9 corporation ( "City" ) . 10 WHEREAS, City and Agency have adopted the Redevelopment Plan 11 for the Palm Springs Redevelopment Project Area No. 9 ( "Project" ) 12 pursuant to the California Community Redevelopment Law (Health 13 and Safety Code Section 33000, et seq. ) ; 14 WHEREAS, District is an affected taxing entity which has 15 general purpose and special bonded indebtedness ad valorem 16 property taxes levied on its behalf by Riverside County ' s 17 18 Assessor on all of the property located in the proposed project area in Fiscal Year 1988-89; 19 WHEREAS, District has submitted to the Agency objections 20 21 regarding the detrimental financial impact the Project will have on the District; _ 22 23 WHEREAS, City and Agency have found and determined that there 24 is substantial evidence to support their finding of detrimental 25 financial impact for the District and it would be appropriate to 26 alleviate any financial burden or detriment caused to District by 27 the Project by authorizing payment to District of certain monies; 28 1 _ MAY 2190 7 1 WHEREAS, Agency and City desire to resolve and settle once 2 and for all times, all present, past and future controversies, 3 claims, causes of action or purported causes of action, 4 differences or disputes, both real and potential, arising against 5 Agency and City in relation to the Project and the Plan; and 6 WHEREAS, District, City and Agency, in consideration of the 7 mutual undertaking, desire to settle their differences and 8 cooperatively provide for the redevelopment of certain areas of 9 the City. This Agreement is a compromise and settlement of 10 claims and liabilities alleged by District in relationship to the 11 Project. 12 NOW, THEREFORE, in consideration of the foregoing and the 13 mutual promises and covenants contained herein, the parties 14 hereto agree as follows: 15 Section 1 . Definition 16 (a) "District" shall mean the Riverside County Flood Control 17 and Water Conservation District, a political subdivision of the 18 State of California. 19 (b) "City" shall mean the City of Palm Springs, a municipal 20 corporation. 21 (c) "Agency" shall mean the Palm Springs Redevelopment 22 Agency. 23 (d) "Project" and "Project Area" shall mean the specific 24 geographical area and redevelopment activities as set forth in 25 the Redevelopment Plan for the Palm Springs Redevelopment Project 26 Area No. 9. 27 28 - 2 - 1 (e) "Project Improvements" shall mean the specific 2 improvements as set forth in the "Revised Master Drainage Plan 3 for the Palm Springs Area" and identified in Exhibit A which is 4 attached hereto and by this reference is incorporated herein. 5 ( f) "Tax Increment" shall mean that portion of property 6 taxes resulting from the increase in assessed evaluation in the 7 Project Area over the base year assessed evaluations in the 8 Project Area, as defined in Section 33670 of the Health and 9 Safety Code. "Tax Increment" shall refer to those taxes raised 10 as a result of the 1% levy allowed under ARTICLE XIIIA of the 11 Constitution of the State of California. "Tax Increment" as 12 referred to in this Agreement, shall not include those taxes 13 levied in excess of the 1% general levy. 14 (g) "District Share" shall mean that portion of "Tax 15 Increment" as computed by the County Auditor-Controller in 16 accordance with the applicable provisions of the Revenue and 17 Taxation Code of the State of California. 18 Section 2. Distribution of Tax Increment 19 Tax Increment shall be allocated by Riverside County 20 Auditor-Controller as follows, subject to the limits of Section 21 33675 (d) of the Health and Safety Code: 22 (a) For the initial six (6 ) years following the date of 23 adoption of the Redevelopment Plan, the Agency is to receive one 24 hundred percent ( 100% ) of the District' s Share. 25 26 27 28 - 3 - (b) Commencing in the seventh year following the date of 1 adoption of the Plan, the Agency is to receive fifty percent 2 ( 50% ) of the District' s Share, the balance is to be paid to the 3 District. 4 (c) In no event is the District' s Share of Accumulated Tax 5 Increment to be distributed to the Agency to exceed the actual 6 cost for the engineering, administration and construction of the 7 Project Improvements. The District will prepare annually a 8 statement that will set forth the projected and actual cost for 9 engineering, administration and construction of the Project 10 Improvements that will be distributed to both the Agency and the 11 Auditor-Controller. 12 (d) District may augment the Agency ' s funds for completion 13 of the Project Improvements with Zone 6 ad valorem taxes, Zone 6 14 benefit assessment revenues, developer fees, assessment district 15 revenues or other sources that may be made available to construct 16 the Project Improvements. Should such augmentations be made, an 17 equivalent amount will be credited toward to the District' s Share 18 of Accumulated Tax Increment that is to be distributed to the 19 Agency as set forth in subsection (c) above. 20 ( e) District is to receive one hundred percent (100% ) of its 21 share when any of the following occurs: 22 1 . The expiration or termination of the Redevelopment 23 Plan; 24 2. Agency has received an amount equivalent to that set 25 forth in subsection (c) above. 26 27 28 4 - 1 The determination of the amounts allocable pursuant to this 2 Section 2 shall accommodate the following three principles, which 3 shall control in the event of any conflict between the principles 4 and any other provision of this Agreement. The principles are as 5 follows: First, the parties intend that the calculation of the 6 Agency' s share of increments assumes that the provisions of 7 Section 33334. 2 will be applied only to those funds ultimately 8 received by the Agency, and not those passed-through by the 9 Agency to the District or any other public agency. In the event 10 that the set-aside provision is found to be applicable to all Tax 11 Increments generated by the Project, the District and the Agency 12 agree to adopt appropriate amendments to this Agreement so that 13 the Agency will receive as its share of increments an amount 14 calculated as if the set-aside were not applicable to passed- 15 through funds. Second, under no circumstances is the District to 16 receive for any year (by virtue of this Agreement) payments in 17 excess of the amount of property tax revenues which would have 18 been received by the District if all the property tax revenues 19 from the Project Area had been allocated to all the affected 20 taxing agencies without regard to any division of taxes pursuant 21 to Health and Safety Code Section 33670. Third, the District 22 shall not be allocated funds where the effect would be to violate 23 the District' s expenditure limitation under ARTICLE XIII .B of the 24 California Constitution. 25 Section 3 . Scheduling of Project Improvements 26 (a) By the conclusion of the tenth year following the date 27 of the adoption of the Redevelopment Plan, the Agency is to have 28 - 5 - 1 expended 75% of the District Share accumulated by the Agency 2 toward the engineering, administration, and construction of the 3 Project Improvements. 4 (b) By the conclusion of the twentieth year following the 5 date of the adoption of the Redevelopment Plan, the Agency is to 6 have expended 75% of the District Share accumulated by the Agency 7 toward the engineering, administration, and construction of the 8 Project Improvements. g (c) By the conclusion of the thirtieth year following the 10 date of the adoption of the Redevelopment Plan, and for each five 11 year anniversary thereafter, the Agency will have expended 100% 12 of the District Share accumulated by the Agency toward the 13 engineering, administration, and construction of the Project 14 Improvements. 15 (d) At the conclusion of the tenth, twentieth and thirtieth 16 years following the date of adoption of the Redevelopment Plan, 17 and for each five year anniversary thereafter, the Agency shall 18 demonstrate to the District, compliance with Section 3 (a) , (b) , 19 and (c) above. 20 Section 4. Construction of Project Improvements 21 The District shall supervise and approve the design and 22 construction of the Project Improvements and, upon completion of 23 said Project Improvements, shall assume responsibility for 24 maintenance of the Project Improvements. 25 Section 5 . Modification and Termination 26 If, after this Agreement is executed, State enacts laws or 27 policies in conflict with all or any portion of this Agreement, 28 - 6 - 1 Agency and District may mutually agree to excuse performance of 2 all or any portion of this Agreement by Agency or District. In 3 the event any section or portion of this Agreement shall be held, 4 found or determined to be unenforceable or invalid for any reason 5 whatsoever, the remaining provisions shall remain in effect, and 6 the parties thereto shall take further actions as may be 7 reasonably necessary and available to them to effectuate the 8 intent of the parties as to all provisions set forth in this 9 Agreement. 10 Section 6. Effective Date and Term 11 This Agreement shall become effective upon the date of 12 execution of this Agreement and shall remain in effect during the 13 term of the Redevelopment Plan. 14 Section 7 . Entire Agreement 15 This Agreement constitutes the entire, complete and final 16 expression of agreements between the parties. 17 18 19 20 21 22 23 24 25 26 27 28 7 - I IN WITNESS WHEREOF, the parties have executed this Agreement 2 on the day and year first written above. 3 RIVERSIDE COUNTY FLOOD CONTROL 4 AND WATER CONSERVATION DISTRICT ATTEST: - 5 GERALD _A-. MALONEY, Clerk 6 y By of Supervisors 7 Chairan Board 8 B _ Facsirnile Signafurt Deputy aiaixed by C1ev-Pt per CITY OF PALM SPRINGS 10 ATTEST: _ By _ �� By 12 JUD3.TH SUMICH NORMAN R. KING City Clerk City Manager 13 14 PALM SPRINGS REDEVELOPMENT AGENCY 15 ATTEST: 16 i �By_... 17 A.s3/t. Secretary Ch;a man I pf �yC 18 q it (.u9 EM /y1Gi i9 At achment 20 AGRMT391 .AGRMT fQM APVNovED COUNTY CDOrism 21 ARMuEr.) AS TO FORM MAR 14 W9 22 ) . 23 aj 4V COAttorney 24 25 26 27 28 - 8 - � � � a � P- os= I � oo E3 fi6" ,1° �IDd I J�A . 48" 45 48 45" C '\I 190 d d dl' N f 13S - 105 120 �AO 1 O o �71-43 oP=p 6P� ri 130 - , _ _ p �$2000�SA � \ R FA -_ -DRIVE . _ 1 � 3 I1 - 1021 b_I Zl 590 0,230 44O 730 dd5 •054 " $292,000 lip -OF71A RETENTI SIN = �55 ra>L,�P.,�Slw�o , r- S rfj• �'Q O YR. PEAK INFLOW=615 c/a b IO YR. PEAK OUTFLOW =55 10YR. MAX.WATER SURFACE-EL.5599� �42 &oo I qq _ _ ram. ItO� '39"- - 'b 9 6�8 51 ➢ - TOTAL STORAGE VOL. -IL4 Ap Ft. �^--/�yQ�` s�C� sQPi 1170 p 9 '•rAC=REOUIREMENTS:4.8 Aq.- �i ry LF11. f`-, f UT L \ 11 (O ,v ro-, oL'ol �I 0 Iwba;rs=a 4 33" 1�36.. , + V �\ as - S �, c5 o� p ff r 4,p_cj' .LSiA°'dTti'c 40 65 /_S�. Col° 1� a p c0 i30 40d IL4 ),a �I R {e BO �.mgell, � , ad Q __ Ell. � �Qw c=oy q Ib�� � 4�.6{c "'{� °•'�Q'^� ,-� �' ''f °S ! _. \ �I60,000 '9O" Ate; o M1}O .•rg� 33 oa. 1 t _, 60 ono 39� - I � —�, I-r'INEY d� .70 CL'.F1'A"4� a r.� . . ic"�'cnP�, �wg�!tq �•. OAD !�+ \� 36 48' 57" s�vc co o 3i ' , aL r �'•" 48 SIO�'"�240 - 2 7 76 �, 0' 210 '!30 " df'480�vlraf 5{0�,tah �v°°y`S5 a a �¢,a Ores sr w.,�l lld io5 L;r 4 �O �i d 4 b rfl 11 Pro No. 9 Boundar d o �}d ct� E , a 2 i 4 - j y 9evi� pip ` , FpP� ❑J� , �P 44 710 Project Improvements 0 p 4 .,gscr L ♦•'* �W �hi7 qJo [f"t9� j I, g_D4 F� � 21YQ 1-k�� 51" t , "• AREA I'A'I O 30 .iZ 140 Qr •,E#1071�i1o0( - 30 � \ 33�60 36 �� ��H �N L �'• 9 © \ r � op 4 e -y3 ��Zq. 6 1t 42 6" I 11 I 6S fll O 153� 153 c� 1 p SS'��� pl 6S f''' `rs�.n'LA or 40 �60 �i0 m 5'4� �: %\ �`��Ip�� h � . tr q�Fei- zzo so m, lr $2,142 ,01 30 rAT f.66 visTA 2C5 C1NEi 6 - _1 CNiao 5''t > 36 , 4a 4811 51" -°0 66" QQ' 75 125 - ry 180�" , :� 210 _ve 240� I� ;�IS-"7'.3®C p �503�.. 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