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HomeMy WebLinkAbout9/15/1999 - STAFF REPORTS (6) • ' • DATE: SEPTEMBER 15, 1999 TO: CITY COUNCIL COMTIM x0 10-20-99 FROM: ACTING DIRECTOR OF MANAGEMENT&BUDGET DIRECTOR OF FINANCE&TREASURER COMMUNITY REDEVELOPMENT AGENCY PROJECT AREA CONSOLIDATION RECOMMENDATION: That the City Council adopt an ordinance consolidating the ten redevelopment projects in Palm Springs into a single Project, called the"Merged Redevelopment Project,"for reporting and accounting efficiencies. BACKGROUND: On July 21, 1999 Agency staff recommended to the City Council that they, acting as the legislative body with the statutory authority to amend Redevelopment Plans, adopt an ordinance consolidating all of the Palm Springs Community Redevelopment Agency's projects,ten(10)in all, into a single project called the"Merged Redevelopment Project." StafTs presentation on the consolidation highlighted a number of advantages: 1. From an administrative point of view,Finance Department staff can account for all 10 project areas in three(3)funds, rather than in the current thirty(30)funds. The Agency then only needs to file one statement of indebtedness and a greatly simplified State Controller's Report. 2. Second, merging the projects would eliminate the need to transfer money between projects. Though the tax increment within a subarea may rise or fidl,the larger aggregated area would be more stable financially. This will also strengthen the credit rating of the Agency. 3. A merger would give the Agency much more flexibility in determining priorities in capital projects, since the capital project funds will be pooled in one fund for use in any of the respective subareas. 4. At the Agency's discretion, some of the Agency's non-performing loans could begin to be brought current. Even after the merger of the redevelopment projects,Riverside County will continue to administer the projects separately. That is, each subarea of the merged project will keep its existing base year value and increment will continue to be calculated separately and remitted to the Agency just as it always has. Likewise, the respective pass through agreements with other taxing agencies will continue to be calculated as they have always been. Therefore, the merger shall not affect the amount of pass throughs(taxes)collected by any other taxing agency, nor will it have any effect on the amount of property tax paid by any property owner. One entity protested the consolidation plan: the Agua Caliente Band of Cahuilla Indians. The tribe's argument was that they have significant investments in several project areas and were concerned that it was the intent of the Agency to spend funds outside the current project area boundaries in areas that currently lack funds. Specifically, their interest is in the Tahquitz-Andreas Project Area(where the Spa Hotel is located)and the Canyon Project(where they have recently purchased the Canyon Hotel). While it is true that the Canyon Project has the largest cash balance of any project area, the Canyon Project also suffered a 38%decrease in tax increment this year, according to a �02 a -a - � Comnontity Redevelopment Agency September 15, 1999 the August figures from Riverside County. That decrease may be acccounted by the Tribe's purchase of the Canyon Hotel,if the hotel has been removed from the tax rolls, as well the stagnant resale market for homes in the Canyon area due to the uncertainty about the Indian lease extensions there. What the decrease means,though, is that if sizable request for assistance came to the Agency in that project area,the Agency could not bond against the Project's revenues without also tying the Canyon Project to another area with better revenue projections or better taxpayer distribution. Essentially,the Canyon Project is much better off in a consolidated project area than on its own. The same is even more true for the Tahquitz-Andreas Project Area, which experienced a 30%decline in tax increment, probably due to the sale of the Wyndham Hotel. This project area, however, has no cash balance, and is currently unable to support any request for development assistance without help from the other project areas. Canyon and Tahquitz-Andreas were the only project areas to suffer substantial decreases this year,others declined slightly or increased, some substantially. For example,Project Area#9, one of the project areas that has declined in the 1990's, saw a 100%increase in tax increment this year. Since the Tribe's letter suggested that they may pursue remedies either at the state or Federal level to stop the consolidation, Agency Counsel looked at the issue and determined that perhaps they could,though it is by no means certain. However, staff s point is that even if the Tribe could appeal a consolidation,it would be unwise to do so even from their perspective. The benefits detailed above show that all of the project areas are healthier in a merged project area,because the overall Agency is healthier than any single project area. While property values have been increasing overall in the city, this past year's numbers show that a single circumstance(such as the sale of a large hotel at a loss)or collection of events can reduce tax increment in a single area;it is much less likely, however, to happen over all tern areas. Individual plan amendments have been prepared for each project area and are attached by Exhibit. The Notice of Public Hearing,which was mailed to each occupant and owner of property within each redevelopment project area 30 days in advance of the July 21 public hearing on the merger,is also attached. The Notice was also mailed by certified mail to each taxing entity operating within the redevelopment projects, and was also published in The Desert Sun for three successive weeks prior to the July 21 hearing. At the public hearing, an ordinance is adopted to approve the plan amendments that will merge the plans. Thirty days from the second reading of the ordinance,the merger becomes effective. The primary purpose of merging the project areas is for financial and repotting reasons; no other changes to the project areas are proposed. In other words, no additional land is being.added to the project areas, nor are any current boundaries changing. The merger will also combine the total tax increment limits into one. Community Re&ve4inent AV y SqA mbar 15, 1999 The overall concept of project area mergers is a very positive development, since it increases the flexibility in the use of capital project funds while reducing the reporting and administrative burden. In addition, it leaves the Agency in a stronger financial position to respond to future redevelopment projects in any project area, irrespective of their current cash position. Finally, it leaves the underlying project areas(and resulting pass throughs) intact, so it does not affect any other taxing agenc�iess. JOHN SK. YM THOMAS M.KANARR Acting D' or of ement&B d et Director of Finanyyce yy& Treasurer 0�tiC:.s Approved by WAPPROV1'1 y ityManager © g�CL.iA?F.1.) Attachments 1. Ordinance No. 2. Amendments to the Redevelopment Plans of the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project,the Baristo-Farrell Project,Project Area No. 9, and the Canyon Project 3. Notice of Public Hearing with map enclosures and cover letter(4 pages total) 4. The affidavit of publication of Notice of the Public Hearing. 5. The certificate of mailing of Notice of Public Hearing to each property owner and tenant in each of the Project Areas to persons,firms or corporations which have acquired property within the Project Areas. 6. The certificate of mailing of Notice of Public Hearing to the governing bodies of each taxing agency within the Project Areas. 7. Agency Report to the City Council. 9. Project Area Descriptions a -� - 3 Community Redevelopment Agency a -a•� Seplamber 15, 1999 Community Redevelopment Agency Project Area Descriptions The Central Business District Redevelopment Project(150 acres)was established on July 11, 1973 by Ordinance No. 959(the"Central Business District Project")and amended by Ordinance No. 1276 on November 11, 1986 and Ordinance No. 1497 on December 21, 1994. The Tahquitz-Andreas Redevelopment Project(164 acres)was established on July 19, 1983 by Ordinance No. 1187(the"Tahquitz-Andreas Project')and amended by Ordinance No. 1489 on December 21, 1994. The Ramon-Bogie Project(440 acres)was established on November 30, 1983 by Ordinance No. 1202(the"Ramon-Bogie Project")and amended by Ordinance No. 1490 on December 21, 1994. The South Palm Canyon Redevelopment Project(17 acres)was established on November 30, 1983 by Ordinance No. 1203 (the"South Palm Canyon Project')and amended by Ordinance No. 1494 on December 21, 1994. The Oasis Redevelopment Project(4 acres)was established on July 10, 1994 by Ordinance No. 1224(the"Oasis Project")and amended by Ordinance No. 1495 on December 21, 1994. The North Palm Canyon Redevelopment Project(324 acres)was established on September 19, 1984 by Ordinance No.1227(the"North Palm Canyon Project")and amended by Ordinance No. 1498 on December 21, 1994. The highland-Gateway Redevelopment Project(114 acres)was established on November 20, 1984 by Ordinance No. 1231 (the"highland-Gateway Project')and amended by Ordinance No. 1491 on December 21, 1994. The Baristo-Farrell Redevelopment Project(483 acres)was established on May 7, 1986 by Ordinance No. 1264(the"Baristo-Farrell Project")and amended by Ordinance No. 1493 on December 21, 1994. The Redevelopment Project Area No. 9(737 acres)was established on December 29, 1988 by Ordinance No. 1321 ("Project No. 9')and amended by Ordinance No. 1496 on December 21, 1994. The Canyon Redevelopment Project(746 acres)was established on July 19, 1991 by Ordinance No. 1388(the"Canyon Project')and amended by Ordinance No.1492 on December 21, 1994. GpA CALIF' S 2 a = Q July 20, 1999 �F�4HUIl�p��` tlx HMDRO cc woutz CAT"MY Mayor William lQeindienst and City Council City of Palm Springs 3200 E. Tahquitz Canyon Way ►art 9mas Palm Springs, CA 92262 ULIfORfUA Re: Consolidation of Redevelopment Project Areas The Tribal Council at its meeting of July 20, 1999 reviewed the City's 9QM agenda items regarding the proposed consolidation which is before you for consideration at your meeting on Wednesday, July 21, 1999. The Tribal Council, based on the brief time to review the staff TCLOHONE recommendation, opposes such a consolidation. (760)325-3400 It is understood that a consolidation, as recommended in your staff report, would certainly create labor and cost savings for the Fax Redevelopment Agency. The Tribe, however, is concerned that such a 060)325-0599 consolidation would result in unfair or inappropriate transfer of tax increment and other funds from those project areas which generate significant revenue to those which generate little on their own. This is a particular concern related to the Tahquitz-Andreas project area (Area No. 2) and the Canyon project area (Area No. 10). These two project areas contain extremely valuable allotted trust and Tribal trust property. The Tribal Council has made a significant investment of Tribal resources in these two project areas. The Tribal Council recognizes the unique problems, which may arise from managing numerous project areas, however, the preservation of the integrity of viable, performing project area investment must take priority. The Tribe, at this time, is generally opposed to the consolidation. However, if due to constraints on timing, the City Council wishes to move forward, the Tribal Council requests that you act on a consolidation, which results in no less than three areas. Those areas would be the Tahquitz-Andreas project area and the Canyon project area while consolidating the remaining into the third area. � -Q - S Page No: 2 Mayor William Kleindienst July 20, 1999 Otherwise, in the event the City Council moves forward and adopts the staff recommendation as written, the Tribal Council will be forced to take the necessary steps available to it under federal and California redevelopment law. Thank you for your careful consideration. Yours , 1 Ye ichard M. Milanovich Chairman, Tribal Council AGUA CALIENTE BAND OF CAHUILLA INDIANS ' C: Art Bunce, Tribal Attorney Tom Davis; Tribal Planning Director TC-3165-07-99 RMM jsw THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Psvpared by CITY OF PALM SPRINGS-COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS,CALIFORNIA a -a- 7 a -a - � PREFACE The Redevelopment Plan("Redevelopment Plan")for the Central Business District Redevelopment Project was adopted on July 11, 1973, by City Council Ordinance No. 959. The Redevelopment Project has been amended twice: on November 11, 1986 by Ordinance 1276;and, on December 21, 1994 by Ordinance No. 1489. The 1986 amendment added limitations required by SB 690 including limiting the total amount of dollars to be allocated to the Redevelopment Project to$150 million in constant 1986 dollars. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to July 19, 2023 and to incur indebtedness to January 1, 2004 (except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290 (Chapter 942, 1993 Statutes). This proposed amendment is the third amendment("Third Amendment")to the Redevelopment Plan for the Central Business District Redevelopment Project("Project"). The purpose of this proposed Third Amendment is to merge the Project with the Central Business District Project, the Tahquitz- Andreas Project,the Ramon-Bogie Project,the South Palm Canyon Project,the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,theBaristo-Farrell Project,Project Area No. 9,and the Canyon Redevelopment Project(collectively,the"Merged Redevelopment Project') pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT The Central Business District Redevelopment Project shall be merged with the Central Business District Project, the Tahquitz-Andreas Project,the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b) of the Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose of paying the principal of,and interest on,indebtedness incurred by the Agency to finance or refinance, in whole or in part,the Merged Redevelopment Project;except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in compliance with the terms of any bond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above, tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law,the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area." o? a4 ' 9' i a oil •/o SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE TAHQUI IZ-ANDREAS REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS, CALIFORNIA PREFACE The Redevelopment Plan("Redevelopment Plan")for the Tahquitz-Andreas Redevelopment Project was adopted on July 19, 1983, by City Council Ordinance No. 1187. The Redevelopment Project has been amended once, on December 21, 1994 by Ordinance No. 1489. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to July 19,2023 and to incur indebtedness to January 1,2004(except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). This proposed amendment is the second amendment("Second Amendment")to the Redevelopment Plan for the Tahquitz-Andreas Redevelopment Project ("Project"). The purpose of this proposed Second Amendment is to merge the Project with the Central Business District Project,the Tahquitz- Andreas Project,the Ramon-Bogie Project,the South Palm Canyon Project,the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,theBaristo-Farrell Project,Project Area No. 9, and the Canyon Redevelopment Project(collectively,the"Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. a _4 - �� a _a • �Sa. SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE TAHQUITZ-ANDREAS REDEVELOPMENT PROJECT The Tahquitz-Andreas Redevelopment Project shall be merged with the Central Business District Project,the Tahquitz-Andreas Project,the Ramon-Bogie Project,the South Palm Canyon Project, the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Fan ell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b) of the Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose ofpaying the principal of,and interest on, indebtedness incurred by the Agency to finance or refinance,in whole or in part,the Merged Redevelopment Project;except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in compliance with the terms of any bond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above,tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law,the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area." SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE SOUTH PALM CANYON REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS.COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS,CALIFORNIA a ,a Wly PREFACE The Redevel opment Plan("Redevelopment Plan")for the South Palm Canyon Redevelopment Project was adopted on November 30, 1983, by City Council Ordinance No. 1203. The Redevelopment Project has been amended once, on December 21, 1994 by Ordinance No. 1494. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to November 30,2023 and to incur indebtedness to January 1, 2004(except in the case of refunding debt or debt for low and moderate income housing purposes)in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). This proposed amendment is the second amendment("Second Amendment")to the Redevelopment Plan for the South Palm Canyon Redevelopment Project("Project'). The purpose of this proposed Second Amendment is to merge the Project with the Central Business District Project,the Tahquitz- Andreas Project,the Ramon-Bogie Project,the South Palm Canyon Project,the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project,Project Area No. 9,and the Canyon Redevelopment Project(collectively,the"Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE SOUTH PALM CANYON REDEVELOPMENT PROJECT The South Palm Canyon Redevelopment Project shall be merged with the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project,the South Palm Canyon Project, the Oasis Project,theNorth Palm CanyonProject,the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b) of the Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose of paying the principal of,and interest on,indebtedness incurred by the Agency to finance or refinance,in whole or in part,the Merged Redevelopment Project;except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in compliance with the terms of any bond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above,tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law, the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area." a - � - IS JA SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE RAMON-BOGIE REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS:COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS,CALIFORNIA PREFACE TheRedevelopment Plan("Redevelopment Plan")for the Ramon-Bogie Redevelopment Project was adopted on November 30, 1983,by City Council Ordinance No. 1202. The Redevelopment Project has been amended once, on December 21,, 1994 by Ordinance No. 1490. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to November 30,2023 and to incur indebtedness to January 1, 2004 (except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). This proposed amendment is the second amendment("Second Amendment")to the Redevelopment Plan for the Ramon-Bogie Redevelopment Project("Project"). The purpose ofthis proposed Second Amendment is to merge the Project with the Central Business District Project,the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project , the Oasis Project , the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project,Project Area No. 9, and the Canyon Redevelopment Project (collectively, the "Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. a -a - lf( SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE RAMON-BOGIE REDEVELOPMENT PROJECT The Ramon-Bogie Redevelopment Project shall be merged with the Central Business District Project, the Tahquitz-Andreas Project,the Ramon-Bogie Project,the South Palm Canyon Project,the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b)of the Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose of paying the principal of, and interest on, indebtedness incurred by the Agency to finance or refinance, in whole or in part, the Merged Redevelopment Project; except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in compliance with the terms of anybond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above, tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law,the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area." SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE OASIS REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS.Cb1VIMUNITY REDEVELOPMENT AGENCY PALM SPRINGS, CALIFORNIA o�- a -l � -ao PREFACE The Redevelopment Plan("Redevelopment Plan")for the Oasis Redevelopment Project was adopted on July 10, 1984, by City Council Ordinance No. 1224. The Redevelopment Project has been amended once, on December 21, 1994 by Ordinance No. 1495. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to July 10, 2024 and to incur indebtedness to July 10, 2004 (except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). This proposed amendment is the second amendment("Second Amendment")to the Redevelopment PW for the Oasis Redevelopment Project ("Project'). The purpose of this proposed Second Amendment is to merge the Project with the Central Business District Project,the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project,I%ject Area No. 9, and the Canyon Redevelopment Project (collectively, the "Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE OASIS REDEVELOPMENT PROJECT The Oasis Redevelopment Project shall be merged with the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project,the North Palm Canyon Project, the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b)of the Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose of paying the principal of, and interest on, indebtedness incurred by the Agency to finance or refinance, in whole or in part, the Merged Redevelopment Project; except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in compliance with the terns of any bond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above, tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law, the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area." a - a •ai a .4 • 2 ;. SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE NORTH PALM CANYON REDEVELOPMENT PROJECT Adopted . 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS, CALWORNIA PREFACE The Redevelopment Plan("Redevelopment Plan")forthe North Palm Canyon Redevelopment Project was adopted on September 19, 1984, by City Council Ordinance No. 1227. The Redevelopment Project has been amended once, on December 21, 1994 by Ordinance No. 1498. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to September 19, 2024 and to incur indebtedness to September 19, 2004(except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community ` Redevelopment Law maximums established by AB 1290 (Chapter 942, 1993 Statutes) This proposed amendment is the second amendment("Second Amendment")to the Redevelopment Plan for the North Palm Canyon Redevelopment Project("Project"). The purpose of this proposed Second Amendment is to merge the Project with the Central Business District Project,the Tahquitz- Andreas Project, the Ramon-Bogie Project,the South Palm Canyon Project,the Oasis Project,the NorthPalm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project,Project Area No. 9,and the Canyon Redevelopment Project(collectively, the"Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. a? -a • a3 a-a Way SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE NORTH PALM CANYON REDEVELOPMENT PROJECT The North Palm Canyon Redevelopment Project shall be merged with the Central Business District Project,the Tahquitz-Andreas Project,the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b) of the Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose of paying the principal of,and interest on, indebtedness incurred by the Agency to finance or refinance,in whole or in part,the Merged Redevelopment Project;except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in compliance with the terms of any bond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above,tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law, the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area." SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE HIGHLAND-GATEWAY REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS, CALIFORNIA a -G • a45 01UA PREFACE The Redevelopment Plan("Redevelopment Plan")for the Highland-Gateway Redevelopment Project was adopted on November 20, 1984, by City Council Ordinance No. 1231. The Redevelopment Project has been amended once, on December 21, 1994 by Ordinance No. 1491. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to November 20, 2024 and to incur indebtedness to November 20, 2004(except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). This proposed amendment is the second amendment("Second Amendment")to the Redevelopment Plan for the Highland-Gateway Redevelopment Project("Project"). The purpose of this proposed Second Amendment is to merge the Project with the Central Business District Project,the Tahquitz- Andreas Project,the Ramon-Bogie Project,the South Palm Canyon Project,the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project,Project Area No.9,and the Canyon Redevelopment Project(collectively, the"Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE HIGHLAND-GATEWAY REDEVELOPMENT PROJECT The Highland-Gateway Redevelopment Project shall be merged with the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b) of the Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose of paying the principal of,and interest on, indebtedness incurred by the Agency to finance or refinance, in whole or in part,the Merged Redevelopment Project;except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in compliance with the terms of any bond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above,tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law, the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area" a _ q . a'7 SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE BARISTO-FARRELL REDEVELOPMENT PROJECT Adopted $ 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS.COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS,CALIFORNIA PREFACE TheRedevelopment Plan("Redevelopment Plan")fortheBaristo-Farrell RedevelopmentProject was adopted on May 7, 1986,by City Council OrdinanceNo. 1264. The Redevelopment Project has been amended once, on December 21, 1994 by Ordinance No. 1498. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to May 7, 2026 and to incur indebtedness to May 7, 2006 (except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). This proposed amendment is the second amendment("Second Amendment")to the Redevelopment Plan for theBaristo-FarrellRedevelopmentProject("Project"). The purpose ofthis proposed Second Amendment is to merge the Project with the Central Business District Project,the Tahquitz-Andreas . Project,the Ramon-Bogie Project, the South Palm Canyon Project , the Oasis Project , the North_ Palm Canyon Project,the Highland-Gateway Project, the Baristo-Farrell Project,Project Area No. 9, and the Canyon Redevelopment Project (collectively, the "Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. a -a - a � a - 4 • � SECOND AMENDMENT • TO THE REDEVELOPMENT PLAN FOR THE BARISTO-FARRELL REDEVELOPMENT PROJECT TheBaristo-Farrell Redevelopment Project shall be merged with the Central Business District Project, the Tahquitz-Andreas Project,the Ramon-Bogie Project,the South Palm Canyon Project,the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b)ofthe Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose of paying the principal of, and interest on, indebtedness incurred by the Agency to finance or refinance, in whole or in part, the Merged Redevelopment Project, except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in compliance with the terms of any bond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above, tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law,the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area." SECOND AMENDMENT TO TIRE REDEVELOPMENT PLAN FOR THE REDEVELOPMENT PROJECT AREA NO. 9 Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS, CALIFORNIA a -G - 3 , a -44 - 3 � PREFACE The Redevelopment Plan ("Redevelopment Plan") for Redevelopment Project Area No. 9 was adopted on December 29, 1988,by City Council Ordinance No. 1321. The Redevelopment Project has been amended once, on December 21, 1994 by Ordinance No. 1496. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to December 29,2028 and to incur indebtedness to December 29,2008(except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). This proposed amendment is the second amendment("Second Amendment")to the Redevelopment Plan for the Redevelopment Project Area No. 9(`!Project"). The purpose of this proposed Second Amendment is to merge the Project with the Central Business District Project,the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project , the Oasis Project , the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project,Project Area No. 9, and the Canyon Redevelopment Project (collectively, the "Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE REDEVELOPMENT PROJECT AREA NO. 9 The Redevelopment Project Area No. 9 shall be merged with the Central Business District Project, the Tahquitz-Andreas Project,the Ramon-Bogie Project,the South Palm Canyon Project,the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b)of the Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose of paying the principal of, and interest on, indebtedness incurred by the Agency to finance or refinance, in whole or in part, the Merged Redevelopment Project; except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in with the terms of any bond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above, tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law, the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area." a _ � - 3y SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE CANYON REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS.CUMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS,CALIFORNIA PREFACE The Redevelopment Plan ("Redevelopment Plan") for the Canyon Redevelopment Project was adopted on July 19, 1991, by City Council Ordinance No. 1388. The Redevelopment Project has been amended once, on December 21, 1994 by Ordinance No. 1492. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to May 7, 2041 and to incur indebtedness to July 19, 2011 (except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). This proposed amendment is the second amendment("Second Amendment")to the Redevelopment Plan for the Canyon Redevelopment Project ("Project"). The purpose of this proposed Second Amendment is to merge the Project with the Central Business District Project,the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project , the Oasis Project , the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project,Project Area No. 9, and the Canyon Redevelopment Project (collectively, the "Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. a _4 -U SECOND AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE CANYON REDEVELOPMENT PROJECT The Canyon Redevelopment Project shall be merged with the Central Business District Project,the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project,the North Palm Canyon Project,the Frighland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project, so that taxes attributable to each constituent project area are allocated to the Agency pursuant to Section 33670(b)of the Community Redevelopment Law are to be allocated to the entire Merged Redevelopment Project Area for the purpose of paying the principal of, and interest on, indebtedness incurred by the Agency to finance or refinance, in whole or in part, the Merged Redevelopment Project; except that any such taxes attributable to any constituent project area shall first be used to pay indebtedness in compliance with the terms of any bond resolution or other agreement pledging such taxes from the constituent project area, which resolution or other agreement was adopted or approved by the Agency prior to the merging of these ten projects. Except as noted above, tax increment revenue attributed to each constituent project may be used for any lawful purpose in any constituent project. For financing purposes and for any other purposes permitted or required by law, the ten constituent projects together and collectively, shall be called the "Merged Redevelopment Project", and the constituent project areas together and collectively, shall be called the "Merged Redevelopment Project Area." FOURTH AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS,COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS, CALIFORNIA a _a ev a _ a - is8' PREFACE The Redevelopment Plan("Redevelopment Plan")for the Central Business District Redevelopment Project was adopted on July 11, 1973, by City Council Ordinance No. 959. The Redevelopment Project has been amended three times: on November 11, 1986 by Ordinance 1276; on December 21, 1994 by Ordinance No. 1489; and, on , 1999 by Ordinance No._. The 1986 amendment added limitations required by SB 690 including limiting the total amount of dollars to be allocated to the Redevelopment Project to$150 million in constant 1986 dollars. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to July 19, 2023 and to incur indebtedness to January 1,2004 (except in the case of refunding debt or debt for low and moderate income housing purposes)in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). The 1999 Amendment merged the Project with the Central Business District Project,the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project,the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project,Project Area No. 9, and the Canyon Redevelopment Project(collectively, the"Merged Redevelopment Project")pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. This proposed amendment is the fourth amendment("Fourth Amendment")to the Redevelopment Plan for the Central Business District Redevelopment Project("Project"). The purpose of this proposed Fourth Amendment is to extend the time limit to collect tax increment to July 11, 2023 in conformity with the new Community Redevelopment Law maximums established by AB 1342 (Chapter 635, 1998 Statutes). FOURTH AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT SECTION 1. The time limitations applicable to the Redevelopment Plan pertaining to (i) establishment of loans, advances, and indebtedness, (ii) plan effectiveness, and (iii) payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670, are hereby established,determined,extended in duration where applicable,and confirmed in conformity with the authorization set forth in Health and Safety Code Section 33333.6(f)(2) pursuant to AB 1342, as follows: 1.1 The time limit on the establishment of loans, advances, and indebtedness of January 1,2004,was previously incorporated into the Redevelopment Plan by OrdinanceNo. 1497 and is conformity with AB1290 [Health and Safety Code Sections 33333.6(a)(1)] and thus no further amendment to the Redevelopment Plan is necessary with respect to this time limitation. 1.2 The time limit on plan effectiveness shall be July 11, 2013, a date that is forty(40) years from the effective date of Ordinance 959, the applicable time limit pursuant to Health and Safety Code Section 33333.6(b), as established by AB 1290, and Health and Safety Code Section 33333.6(f)(2), as established by AB1342. 1.3 The time limit on payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670 shall be July 11,2023, a date that is ten(10) years following the time limit on plan effectiveness(i.e.,fifty(50)years following the effective date of Ordinance No. 959),the applicable time limit pursuant to Health and Safety Code Section 3333.6(c), as established by AB1290, and Health and Safety .Code Section 33333.6(f)(2), as established by AB 1342. SECTION 2. To incorporate the foregoing time limitations into the Redevelopment Plan, the Redevelopment Plan is hereby amended in pertinent part as follows: 2.1 Article VI, [§610]Tax Increment, is hereby amended to read as follows: [§610.2] All taxes levied upon taxable property within the Project Areas each year by or for the benefit of the State of California, the County of Riverside, the City of Palm Springs, any district or any other public corporation (hereinafter sometimes called "taxing agencies") after the effective date of Ordinance 959 approving this Plan, shall be divided as follows: A. That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Redevelopment a - a - 3y a -440 Project as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency, last equalized prior to the effective date of such ordinance,shall be allocated to and when collected shall be paid into the funds of the respective taxing agencies as taxes by or for said taxing agencies on all other property are paid(for the purpose of allocating taxes levied by or for any taxing agency or agencies which did not include the territory of the Project on the effective date of such ordinance but to which such territory is annexed or otherwise included after such effective date, the assessment roll of the County ofRiverside last equalized on the effective date of said ordinance shall be used in determining the assessed valuation of the taxable property in the Project on said effective date); and B. That portion of said levied taxes each year in excess of such amount shall be allocated to and when collected shall be paid into a special fund of the Agency to pay the principal of and interest on loans, monies advanced to, or indebtedness(whether funded,refunded, assumed,or otherwise)incurred by the Agency to finance or refinance, in whole or in part, this Project for a period not to exceed fifty(50)years from July 11, 1973,the effective date of Ordinance 959 approving this Plan(i.e.,to and including July 11,2023). This time limit shall not be applied to the allocation oftaxes to the extent required by the Agency to implement the low and moderate income housing program. Unless and until the total assessed valuation of the taxable property in the Project exceeds the total assessed value of the taxable properties in the Project as shown by the last equalized assessment role referred to in paragraph (A) hereof, all of the taxes levied and collected upon the taxable property in the Project shall be paid into the funds of the respective taxing agency. When said loans, advances, and indebtedness, if any, and interest thereon, have been paid, all monies thereafter received from taxes upon the taxable property in the Project shall be paid into the funds of the respective taxing agencies as taxes on all other properties are paid. [§610.5](New Section.) The Agency shall not establish or incur loans,advances,or indebtedness to finance, in whole or in part, the Project beyond January 1, 2004. Loans, advances or indebtedness may be prepaid over a period of time beyond said time limit. This limit shall not prevent incurring debt or repaying debt to the Low and Moderate Income Housing Fund or for other Agency housing obligations,or shall this limitation prevent the Agency from refinancing, refunding, or restructuring indebtedness after this time limit if the indebtedness is not increased and the time during which the indebtedness is to be repaid does not exceed the date on which the indebtedness would have been paid. 2.2 Section VM, [§900]DurStion of This Plan,is hereby amended to read as follows: ARTICLE IX. [§900.1] DURATION OF THIS PLAN .d 900.1. Except forthe nondiscrimination and nonsegregation provisions which shall run in perpetuity, the provisions of this Plan shall be effective and the provisions of other documents pursuant to this Plan shall be effective until July 11, 2013, the date that is forty (40) years from the effective date of Ordinance 959 approving this Plan. 900.2 The time limitation established by this section shall not be applied to limit allocation of taxes to the extent required to implement the low and moderate income housing program or to pay previously incurred indebtedness or enforce then-existing covenants, contracts, and other obligations. a _� owy/ a4WA -�►� THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE TAHQUITZ-ANDREAS REDEVELOPMENT PROJECT Adopted . 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS.COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS, CALIFORNIA i • PREFACE The Redevelopment Plan("Redevelopment Plan")for the Tahquitz-Andreas Redevelopment Project was adopted on July 19, 1983, by City Council Ordinance No. 1187. The Redevelopment Project has been amended two times: on December 21, 1994 by Ordinance No. 1489 and on . 1999 by Ordinance No. _. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to July 19, 2023 and to incur indebtedness to January 1, 2004 (except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290 (Chapter 942, 1993 Statutes). The 1999 Amendment merged the Project with the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project,the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project,Project Area No:9, and the Canyon Redevelopment Project(collectively,*the"Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. This proposed amendment is the third amendment ("Third Amendment")to the Redevelopment Plan for the Tahquitz-Andreas Redevelopment Project ("Project"). The purpose of this proposed Third Amendment is to extend the time limit to collect tax increment to July 19, 2033 in conformity with the new Community Redevelopment Law maximums established by AB 1342 (Chapter 635, 1998 Statutes). a -4aw • a -a •yy THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE TAHQUTPL-ANDREAS REDEVELOPMENT PROJECT SECTION I. The time limitations applicable to the Redevelopment Plan pertaining to(i) establishment of loans, advances, and indebtedness, (ii) plan effectiveness, and (iii) payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section33670, are hereby established,determined,extended in duration where applicable,and confirmed in conformity with the authorization set forth in Health and Safety Code Section 33333.6(f)(2) pursuant to AB1342, as follows: 1.1 The time limit on the establishment of loans, advances, and indebtedness of January 1,2004,was previously incorporated into the Redevelopment Plan by Ordinance No. 1489 and is conformity with ABI290 [Health and Safety Code Sections 33333.6(a)(1)] and thus no further amendment to the Redevelopment Plan is necessary with respect to-this time limitation. 1.2 The time limit on plan effectiveness shall be July 19, 2023, a date that is forty(40) years from the effective date of Ordinance 1187,the applicable time limit pursuant to Health and Safety Code Section 33333.6(b), as established by A131290, and Health and Safety Code Section 33333.6(f)(2), as established by AB 1342. 1.3 The time limit on payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670 shall be July 19, 2033, a date that is ten(10) years following the time limit on plan effectiveness(i.e.,fifty(50)years following the effective date of Ordinance No. 1187), the applicable time limit pursuant to Health and Safety Code Section 3333.6(c),as established by AB 1290,and Health and Safety Code Section 33333.6(t)(2), as established by AB 1342. SECTION 2. To incorporate the foregoing time limitations into the Redevelopment Plan, the Redevelopment Plan is hereby amended in pertinent part as follows: 2.1 Section V, [§502] Tax Increment Funds, is hereby amended to read as follows: [§610.2] All taxes levied upon taxable property within the Project Areas each year by or for the benefit of the State of California,the County of Riverside,the City of Palm Springs, any district or any other public corporation (hereinafter sometimes called "taxing agencies") after the effective date of Ordinance 1187 approving this Plan, shall be divided as follows: I. That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Redevelopment Project as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency, last equalized prior to the effective date of such ordinance,shall be allocated to and when collected shall be paid into the funds of the respective taxing agencies as taxes by or for said taxing agencies on all other property are paid (for the purpose of allocating taxes levied by or for any taxing agency or agencies which did not include the territory of the Project on the effective date of such ordinance but to which such territory is annexed or otherwise included after such effective date, the assessment roll ofthe County ofRiverside last equalized on the effective date of said ordinance shall be used in determining the assessed valuation of the taxable property in the Project on said effective date); and 2. That portion of said levied taxes each year in excess of such amount shall be allocated to and when collected shall be paid into a special fund of the Agency to pay the principal of and interest on loans, monies advanced to, or indebtedness(whether funded,refunded,assumed, or otherwise)incurred by the Agency to finance or refinance, in whole or in part, this Project for a period not to exceed fifty(50)years from July 19, 1983, the effective date of Ordinance 1187 approving this Plan (i.e., to and including July 19, 2023). This time limit shall not be applied to the allocation of taxes to the extent required by the Agency to implement the low and moderate income housing program. Unless and until the total assessed valuation of the taxable property in the Project exceeds the total assessed value of the taxable properties in the Project as shown by the last equalized assessment role referred to in paragraph (A) hereof, all of the taxes levied and collected upon the taxable property in the Project shall be paid into the funds of the respective taxing agency. When said loans, advances, and indebtedness, if any, and interest thereon, have been paid, all monies thereafter received from taxes upon the taxable property in the Project shall be paid into the funds of the respective taxing agencies as taxes on all other properties are paid. The portion oftaxes mentioned in subdivision 2 above are hereby irrevocably pledged for the payment of the principal of and interest on the advance of monies, or making of loans or the incurring of any indebtedness(whether funded,refunded,assumed,or otherwise)by the Agency to finance or refinance the Project,in whole or in part. The Agency is authorized to make such pledges as to specific advances, loans and indebtedness as appropriate in carrying out the Project. The portion of taxes divided and allocated to the Agency pursuant to subdivision 2 ofthis Section 502 shall not exceed a cumulative total of$90,000,000 or,ifbonds are issued or reimbursement agreements are entered into with other public agencies, a cumulative total of$90,000,000. The Agency is authorized to issue bonds from time to time,if it deems appropriate to do so, in order to finance all or any part of the Project. Neither the members of the a -a - y5 a _it Agency nor any person executing the bonds are liable personally on the bonds by reason of their issuance. The bonds and other obligations of the Agency are not a debt ofthe City or the State, nor are any of its political subdivisions Gable for them,nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the Agency, and such bonds and other obligations shall be so stated on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. The amount of bonded indebtedness to be repaid in whole or in part from the allocation of taxes described in subdivision 2 above which can be outstanding at any one time shall not exceed$90,000,000. The Agency shall not establish or incur loans, advances, or indebtedness to finance, in whole or in part, the Project beyond January 1, 2004. Loans, advances or indebtedness may be prepaid over a period of time beyond said time limit. This limit shall not prevent incurring debt or repaying debt to the Low and Moderate Income Housing Fund or for other Agency housing obligations,or shall this limitation prevent the Agency from refinancing,refunding,or restructuring indebtedness after this time limit if the indebtedness is not increased and the time during which the indebtedness is to be repaid does not exceed the date on which the indebtedness would have been paid. 2.2 Section VIII, [§800] Duration of This Plan, is hereby amended to read as follows: VIII. [§800] DURATION OF THIS PLAN Except for the nondiscrimination and nonsegregation provisions which shall run in perpetuity, the provisions of this Plan shall be effective and the provisions of other documents pursuant to this Plan shall be effective until July 19, 2023, the date that is forty (40) years from the effective date of Ordinance No. 1187 approving this Plan. THIRD AMENDMENT TO IRE REDEVELOPMENT PLAN FOR THE SOUTH PALM CANYON REDEVELOPMENT PROJECT Adopted . 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS,CALIFORNIA a -� - y7 PREFACE The Redevelopment Plan("Redevelopment Plan")for the South Palm Canyon Redevelopment Project was adopted on November 30, 1983, by City Council Ordinance No. 1203. The Redevelopment Project has been amended two times: on December 21, 1994 by Ordinance No. 1494 and on . 1999 by Ordinance No. _. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to November 30,2023 and to incur indebtedness to January 1, 2004(except in the case of refunding debt or debt for low and moderate income housing purposes)in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). The 1999 Amendment merged the Project with the Central Business District Project, the Tahquitz Andreas Project,the Ramon- Bogie Project,the South Palm Canyon Project, the Oasis Project,the North Palm Carryon Project, the Highland-Gateway Project, the Baristo-Farrell Project,Project Area No. 9, and the Canyon Redevelopment Project(collectively, the"Merged Redevelopment Project")pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. This proposed amendment is the third amendment("Third Amendment')to the Redevelopment Plan for the South Palm Canyon Redevelopment Project("Project"). The purpose of this proposed Third Amendment is to extend the time limit to collect tax increment to November 30, 2033 in conformity with the new Community Redevelopment Law maximums established by AB 1342(Chapter 635, 1998 Statutes). THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE SOUTH PALM CANYON REDEVELOPMENT PROJECT ES CTIQN 1. The time limitations applicable to the Redevelopment Plan pertaining to (i) establishment of loans, advances, and indebtedness, (ii) plan effectiveness, and (iii) payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670, are hereby established,determined,extended in duration where applicable,and confirmed in conformity with the authorization set forth in Health and Safety Code Section 33333.6(f)(2) pursuant to AB1342, as follows: 1.1 The time limit on the establishment of loans, advances, and indebtedness of January 1,2004,was previously incorporated into the Redevelopment Plan by Ordinance No. 1494 and is conformity with AB1290 [Health and Safety Code Sections 33333.6(a)(1)] and thus no further amendment to the Redevelopment Plan is necessary with respect to this time limitation. 1.2 The time limit on plan effectiveness shall be November 30, 2023, a date that is forty (40) years from the effective date of Ordinance 1203, the applicable time limit pursuant to Health and Safety Code Section 33333.6(b), as established by AB 1290, and Health and Safety Code Section 33333.6(f)(2), as established by AB1342. 1.3 The time limit on payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670 shall be November 30,2033,a date that is ten (10)years following the time limit on plan effectiveness(i.e.,fifty(50)years following the effective date ofOrdinance No. 1203),the applicable time limit pursuant to Health and Safety Code Section 3333.6(c),as established by AB 1290,and Health and Safety Code Section 33333.6(f)(2), as established by AB1342. SECTION 2. To incorporate the foregoing time limitations into the Redevelopment Plan, the Redevelopment Plan is hereby amended in pertinent part as follows: 2.1 Section V, [§502] Tax Increment Funds, is hereby amended to read as follows: [§502] All taxes levied upon taxable property within the Project Areas each year by or for the benefit of the State of California,the County of Riverside,the City of Palm Springs, any district or any other public corporation (hereinafter sometimes called "taxing agencies")after the effective date ofOrdinance No. 1203 approving this Plan, shall be divided as follows: 1. That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Redevelopment a _ � - yf Project as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency, last equalized prior to the effective date of such ordinance,shall be allocated to and when collected shall be paid into the funds of the respective taxing agencies as taxes by or for said taxing agencies on all other property are paid (for the purpose of allocating taxes levied by or for any taxing agency or agencies which did not include the territory of the Project on the effective date of such ordinance but to which such territory is annexed or otherwise included after such effective date, the assessment roll ofthe County ofRiverside last equalized on the effective date of said ordinance shall be used in determining the assessed valuation of the taxable property in the Project on said effective date); and 2. That portion of said levied taxes each year in excess of such amount shall be allocated to and when collected shall be paid into a special fund of the Agency to pay the principal of and interest on loans, monies advanced to, or indebtedness(whether funded,refunded, assumed,or otherwise)incurred by the Agency to finance or refinance, in whole or in part, this Project for a period not to exceed fifty(50)years from November 30, 1983, the effective date of Ordinance 1203 approving this Plan(i.e.,to and including November 30,2033). This time limit shall not be applied to the allocation of taxes to the extent required by the Agency to implement the low and moderate income housing program. Unless and until the total assessed valuation of the taxable property in the Project exceeds the total assessed value of the taxable properties in the Project as shown by the last equalized assessment role referred to in paragraph(A)hereof,all of the taxes levied and collected upon the taxable property in the Project shall be paid ipto the funds of the respective taxing agency. When said loans, advances, and indebtedness, if any,and interest thereon,have been paid,all monies thereafter received from taxes upon the taxable property in the Project shall be paid into the funds of the respective taxing agencies as taxes on all other properties are paid. The portion of taxes mentioned in subdivision 2 above are hereby irrevocably pledged for the payment of the principal of and interest on the advance of monies, or making of loans or the incurring of any indebtedness(whether funded,refunded,assumed,or otherwise)by the Agency to finance or refinance the Project,in whole or in part. The Agency is authorized to make such pledges as to specific advances, loans and indebtedness as appropriate in carrying out the Project. The portion of taxes divided and allocated to the Agency pursuant to subdivision 2 ofthis Section 502 shall not exceed a cumulative total of$80,000,000 or,ifbonds are issued or reimbursement agreements are entered into with other public agencies, a cumulative total of$80,000,000. The Agency is authorized to issue bonds from time to time,if it deems appropriate to do so, in order to finance all or any part of the Project. Neither the members of the Agency nor any person executing the bonds'are liable personally on the bonds by reason of their issuance. The bonds and other obligations of the Agency are not a debt of the City or the State, nor are any of its political subdivisions liable for them,nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the Agency, and such bonds and other obligations shall be so stated on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. The amount of bonded indebtedness to be repaid in whole or in part from the allocation of taxes described in subdivision 2 above which can be outstanding at any one time shall not exceed $80,000,000. The Agency shall not establish or incur loans, advances, or indebtedness to finance, in whole or in part, the Project beyond January 1, 2004. Loans, advances or indebtedness may be prepaid over a period of time beyond said time limit. This limit shall not prevent incurring debt or repaying debt to the Low and Moderate Income Housing Fund or for other Agency housing obligations,or shall this limitation prevent the Agency from refinancing,refunding,or restructuring indebtedness after this time limit if the indebtedness is not increased and the time during which the indebtedness is to be repaid does not exceed the date on which the indebtedness would have been paid. 2.2 Section VIII, [§800] Duration of This Plan, is hereby amended to read as follows: VIII. [§800] DURATION OF THIS PLAN Except for the nondiscrimination and nonsegregation provisions which shall run in perpetuity, the provisions of this Plan shall be effective and the provisions of other documents pursuant to this Plan shall be effective until November 30, 2023, the date that is forty(40) years from the effective date of Ordinance No. 1203 approving this Plan. a.4• s;L TEURD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE RAMON-BOGIE REDEVELOPMENT PROJECT Adopted $ 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS.COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS,CALIFORNIA PREFACE The Redevelopment Plan ("Redevelopment Plan")for the Ramon-Bogie Redevelopment Project was adopted on November 30, 1983, by City Council Ordinance No. 1202. The Redevelopment Project has been amended two times: on December 21, 1994 by Ordinance No. 1490 and on , 1999 by Ordinance No. — The 1994 amendment added and revised the plan's financial time limits to collect tax increment to November 30, 2023 and to incur indebtedness to January 1, 2004(except in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). The 1999 Amendment merged the Project with the Central Business District Project, the Tahquitz-Andreas Project, the Ramon- Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project(collectively, the"Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. This proposed amendment is the third amendment ("Third Amendment")to the Redevelopment Plan for the Ramon-Bogie Redevelopment Project("Project"). The purpose of this proposed Third Amendment is to extend the time limit to collect tax increment to November 30, 2033 in conformity with the new Community Redevelopment Law maximums established by AB 1342 (Chapter 635, 1998 Statutes). C; up a -aw4y THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE RAMON-BOGIE REDEVELOPMENT PROJECT SECTION 1. The time limitations applicable to the Redevelopment Plan pertaining to(i) establishment of loans, advances, and indebtedness, (ii) plan effectiveness, and (iii) payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670, are hereby established,determined,extended in duration where applicable,and confirmed in conformity with the authorization set forth in Health and Safety Code Section 33333.6(f)(2) pursuant to AB1342, as follows: 1.1 The time-limit on the establishment of loans, advances, and indebtedness of January 1,2004,was previously incorporated into the Redevelopment Plan by Ordinance No. 1495 and is conformity with AB1290 [Health and Safety Code Sections 33333.6(axl)] and thus no further amendment to the Redevelopment Plan is necessary with respect to this time limitation. 1.2 The time limit on plan effectiveness shall be July 10, 2024, a date that is forty(40) years from the effective date of Ordinance 1224,the applicable time limit pursuant to Health and Safety Code Section 33333.6(b), as established by AB 1290, and Health and Safety Code Section 33333.6(f)(2), as established by AB 1342. 1.3 The time limit on payment of indebtedness and receipt pf property taxes pursuant to Health and Safety Code Section 33670 shall be July 10,2034, a date that is ten(10) years following the time limit on plan effectiveness(i.e.,fifty(50)years following the effective date of Ordinance No. 1224), the applicable time limit pursuant to Health and Safety Code Section 3333.6(c),as established by AB 1290,and Health and Safety Code Section 33333.6(f)(2), as established by A131342. SECTION 2. To incorporate the foregoing time limitations into the Redevelopment Plan, the Redevelopment Plan is hereby amended in pertinent part as follows: 2.1 Section V, [§502] Tax Increment Funds, is hereby amended to read as follows: [§502] All taxes levied upon taxable property within the Project Areas each year by or for the benefit of the State of California,the County of Riverside,the City of Palm Springs, any district or any other public corporation (hereinafter sometimes called "taxing agencies")after the effective date ofOrdinance No. 1224 approving this Plan, shall be divided as follows: 1. That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Redevelopment Project as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency, last equalized prior to the effective date of such ordinance,shall be allocated to and when collected shall be paid into the funds of the respective taxing agencies as taxes by or for said taxing agencies on all other property are paid (for the purpose of allocating taxes levied by or for any taxing agency or agencies which did not include the territory of the Project on the effective date of such ordinance but to which such territory is annexed or otherwise included after such effective date, the assessment roll of the County ofRiverside last equalized on the effective date of said ordinance shall be used in determining the assessed valuation of the taxable property in the Project on said effective date); and 2. That portion of said levied taxes each year in excess of such amount shall be allocated to and when collected shall be paid into a special fund of the Agency to pay the principal of and interest on loans, monies advanced to, or indebtedness(whether funded,refunded,assumed,or otherwise)incurred by the Agency to finance or refinance, in whole or in part, this Project for a period not to exceed fifty(50)years from July 10, 1984,the effective date of Ordinance 1224 approving this Plan (i.e., to and including July 10, 2034). This time limit shall not be applied to the allocation of taxes to the extent required by the Agency to implement the low and moderate income housing program. Unless and until the total assessed valuation of the taxable property in the Project exceeds the total assessed value of the taxable properties in the Project as shown by the last equalized assessment role referred to in paragraph (A) hereof, all of the taxes levied and collected upon the taxable property in the Project shall be paid into the funds of the respective taxing agency. When said loans, advances, and indebtedness, if any, and interest thereon, have been paid, all monies thereafter received from taxes upon the taxable property in the Project shall be paid into the funds of the respective taxing agencies as taxes on all other properties are paid. The portion of taxes mentioned in subdivision 2 above are hereby irrevocably pledged for the payment of the principal of and interest on the advance of monies, or making of loans or the incurring of any indebtedness(whether funded,refunded,assumed,or otherwise)by the Agency to finance or refinance the Project,in whole or in part. The Agency is authorized to make such pledges as to specific advances, loans and indebtedness as appropriate in carrying out the Project. The portion of taxes divided and allocated to the Agency pursuant to subdivision 2 ofthis Section 502 shall not exceed a cumulative total of$30,000,000 or,ifbonds are issued or reimbursement agreements are entered into with other public agencies, a cumulative total of$30,000,000. The Agency is authorized to issue bonds from time to time,if it deems appropriate to do so, in order to finance all or any part of the Project. Neither the members of the a - 44 - 55 a.4 •s& Agency nor any person executing the bonds are liable personally on the bonds by reason of their issuance. The bonds and other obligations of the Agency are not a debt of the City or the State, nor are any of its political subdivisions liable for them,nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the Agency, and such bonds and other obligations shall be so stated on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. The amount of bonded indebtedness to be repaid in whole or in part from the allocation of taxes described in subdivision 2 above which can be outstanding at any one time shall not exceed$30,000,000. The Agency shall not establish or incur loans, advances, or indebtedness to finance, in whole or in part, the Project beyond January 1, 2004. Loans, advances or indebtedness may be prepaid over a period of time beyond said time limit. This limit shall not prevent incurring debt or repaying debt to the Low and Moderate Income Housing Fund or for other Agency housing obligations,or shall this limitation prevent the Agency from refinancing,refunding,or restructuring indebtedness after this time limit if the indebtedness is not increased and the time during which the indebtedness is to be repaid does not exceed the date on which the indebtedness would have been paid. 2.2 Section VIII, [§800] Duration of This Plan, is hereby amended to read as follows: c VIII. [§800] DURATION OF THIS PLAN Except for the nondiscrimination and nonsegregation provisions which shall run in perpetuity, the provisions of this Plan shall be effective and the provisions of other documents pursuant to this Plan shall be effective until July 10, 2024; the date that is forty (40) years from the effective date of Ordinance No. 1224 approving this Plan. THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE OASIS REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS,COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS, CALIFORNIA a -a- 58 PREFACE The Redevelopment Plan("Redevelopment Plan")for the Oasis Redevelopment Project was adopted on July 10, 1984, by City Council Ordinance No. 1224. The Redevelopment Project has been amended two times: on December 21, 1994 by Ordinance No. 1495 and on . 1999 by Ordinance No. • . The 1994 amendment added and revised the plan's financial time limits to collect tax increment to July 10, 2024 and to incur indebtedness to July 10, 2004(except in the case of refunding debt or debt for low and moderate income housing purposes)in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). The 1999 Amendment merged the Project with the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project (collectively, the"Merged Redevelopment Project")pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. This proposed amendment is the third amendment("Third Amendment")to the.Redevelopment Plan for the Oasis Redevelopment Project("Project"). The purpose of this proposed Third Amendment is to extend the time limit to collect tax increment to July 10, 2034 in conformity with the new Community Redevelopment Law maximums established by AB 1342 (Chapter 635, 1998 Statutes). THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE OASIS REDEVELOPMENT PROJECT SECTION 1. The time limitations applicable to the Redevelopment Plan pertaining to (i) establishment of loans, advances, and indebtedness, (ii) plan effectiveness, and (iii) payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670, are hereby established,determined,extended in duration where applicable, and confirmed in conformity with the authorization set forth in Health and Safety Code Section 33333 6(f)(2) pursuant to AB1342, as follows: 1.1 The time limit on the establishment of loans, advances, and indebtedness of January 1,2004,was previously incorporated into the Redevelopment Plan by Ordinance No. 1495 and is conformity with AB 1290 [Health and Safety Code Sections 33333.6(a)(1)] and thus no further amendment to the Redevelopment Plan is necessary with respect to this time limitation. 1.2 The time limit on plan effectiveness shall be July 10, 2024, a date that is forty(40) years from the effective date of Ordinance 1224,the applicable time limit pursuant to Health and Safety Code Section 33333.6(b), as established by AB1290, and Health and Safety Code Section 33333.6(f)(2), as established by AB1342. 1.3 The time limit on payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670 shall be July 10, 2034, a date that is ten(10) years following the time limit on plan effectiveness(i.e.,fifty(50)years following the effective date of Ordinance No. 1224), the applicable time limit pursuant to Health and Safety Code Section 3333.6(c),as established by AB 1290,and Health and Safety Code Section 33333.6(f)(2), as established by AB 1342. SECTION 2. To incorporate the foregoing time limitations into the Redevelopment Plan, the Redevelopment Plan is hereby amended in pertinent part as follows: 2.1 Section V, [§502] Tax Increment Funds, is hereby amended to read as follows: [§502] All taxes levied upon taxable property within the Project Areas each year by or for the benefit of the State of California,the County of Riverside,the City of Palm Springs, any district or any other public corporation (hereinafter sometimes called "taxing agencies")after the effective date of Ordinance No. 1224 approving this Plan, shall be divided as follows: 1. That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Redevelopment Q %W 14 ova" Project as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency, last equalized prior to the effective date of such ordinance,shall be allocated to and when collected shall be paid into the funds ofthe respective taxing agencies as taxes by or for said taxing agencies on all other property are paid (for the purpose of allocating taxes levied by or for any taxing agencyor agencies which did not include the territory of the Project on the effective date of such ordinance but to which such territory is annexed or otherwise included after such effective date, the assessment roll ofthe County ofRiverside last equalized on the effective date of said ordinance shall be used in determining the assessed valuation of the taxable property in the Project on said effective date); and 2. That portion of said levied taxes each year in excess of such amount shall be allocated to and when collected shall be paid into a special fund of the Agency to pay the principal of and interest on loans, monies advanced to, or indebtedness(whether funded,refunded,assumed,or otherwise)incurred by the Agency to finance or refinance, in whole or in part, this Project for a period not to exceed fifty(50)years from July 10, 1984,the effective date of Ordinance 1224 approving this Plan (i.e., to and including July 10, 2034). This time limit shall not be applied to the allocation of taxes to the extent required by the Agency to implement the low and moderate income housing program. Unless and until the total assessed valuation ofthe taxable property in the Project exceeds the total assessed value ofthe taxable properties in the Project as shown by the last equalized assessment role referred to in paragraph (A)hereof, all of the taxes levied and collected upon the taxable property in the Project shall be paid into the funds of the respective taxing agency. When said loans, advances, and indebtedness, if any, and interest thereon, have been paid, all monies thereafter received from taxes upon the taxable property in the Project shall be paid into the funds of the respective taxing agencies as taxes on all other properties are paid. The portion of taxes mentioned in subdivision 2 above are hereby irrevocably pledged for the payment of the principal of and interest on the advance of monies, or making of loans or the incurring ofany indebtedness(whether funded,refunded,assumed,or otherwise)by the Agency to finance or refinance the Project,in whole or in part. The Agency is authorized to make such pledges as to specific advances, loans and indebtedness as appropriate in carrying out the Project. The portion of taxes divided and allocated to the Agency pursuant to subdivision 2 ofthis Section 502 shall not exceed a cumulative total of$30,000,000 or,if bonds are issued or reimbursement agreements are entered into with other public agencies, a cumulative total of$30,000,000. The Agency is authorized to issue bonds from time to time,if it deems appropriate to do so, in order to finance all or any part of the Project. Neither the members of the Agency nor any person executing the bonds are liable personally on the bonds by reason of their issuance. The bonds and other obligations of the Agency are not a debt of the City or the State, nor are any of its political subdivisions liable for them,nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the Agency, and such bonds and other obligations shall be so stated on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. The amount of bonded indebtedness to be repaid in whole or in part from the allocation of taxes described in subdivision 2 above which can be outstanding at any one time shall not exceed $30,000,000. The Agency shall not establish or incur loans, advances, or indebtedness to finance, in whole or in part, the Project beyond January 1, 2004. Loans, advances or indebtedness may be prepaid over a period of time beyond said time limit. This limit shall not prevent incurring debt or repaying debt to the Low and Moderate Income Housing Fund or for other Agency housing obligations,or shall this limitation prevent the Agency from refinancing, refunding,or restructuring indebtedness after this time limit if the indebtedness is not increased and the time during which the indebtedness is to be repaid does not exceed the date on which the indebtedness would have been paid. 2.2 Section VIII, [§800] Duration of This Plan, is hereby amended to read as follows: VIII. [§800] DURATION OF THIS PLAN Except for the nondiscrimination and nonsegregation provisions which shall run in perpetuity, the provisions of this Plan shall be effective and the provisions of other documents pursuant to this Plan shall be effective until July 10, 2024, the date that is forty (40) years from the effective date of Ordinance No 1224 approving this Plan. Ig THMD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE NORTH PALM CANYON REDEVELOPMENT PROJECT Adopted . 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS.COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS,CALIFORNIA PREFACE The Redevelopment Plan("Redevelopment Plan")for the North Palm Canyon Redevelopment Project was adopted on September 19, 1984, by City Council Ordinance No. 1227. The Redevelopment Project has been amended two times: on December 21, 1994 by Ordinance No. 1499 and on , 1999 by Ordinance No. _. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to September 19, 2024 and to incur indebtedness to September 19, 2004 (except in the case of refunding debt or debt for low and moderate income housing purposes)in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). The 1999 Amendment merged the Project with the Central Business District Project, the Tahquitz-Andreas Project, the Ramon- Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project, Project Area No. 9, and the Canyon Redevelopment Project(collectively,the"Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. This proposed amendment is the third amendment("Third Amendment")to the Redevelopment Plan for the North Palm Canyon Redevelopment Project ("Project"). The purpose of this proposed Third Amendment is to extend the time limit to collect tax increment to September 19, 2034 in conformity with the new Community Redevelopment Law maximums established by AB 1342 (Chapter 635, 1998 Statutes). a THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE NORTH PALM CANYON REDEVELOPMENT PROJECT SECTION 1. The time limitations applicable to the Redevelopment Plan pertaining to(i) establishment of loans, advances, and indebtedness, (ii) plan effectiveness, and (iii) payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670, are hereby established,determined,extended in duration where applicable,and confirmed in conformity with the authorization set forth in Health and Safety Code Section 33333.6(f)(2) pursuant to AB1342, as follows: 1.1 The time limit on the establishment ofloans,advances,and indebtedness of September 19, 2004, was previously incorporated into the Redevelopment Plan by Ordinance No. 1498 and is conformity with AB1290 [Health and Safety Code Sections 33333.6(a)(1)] and thus no further amendment to the Redevelopment Plan is necessary with respect to this time limitation. 1.2 The time limit on plan effectiveness shall be September 14, 2024, a date that is forty (40) years from the effective date of Ordinance 1227, the applicable time limit pursuant to Health and Safety Code Section 33333.6(b), as established by AB1290, and Health and Safety Code Section 33333.6(f)(2), as established by AB 1342. 1.3 The time limit on payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670 shall be September 19,2034,a date that is ten (10)years following the time limit on plan effectiveness(i.e.,fifty(50)years following t the effective date ofOrdinance No. 1227),the applicable time limit pursuant to Health and Safety Code Section 3333.6(c),as established by AB 1290,and Health and Safety Code Section 33333.6(f)(2), as established by AB1342. SECTQN 2. To incorporate the foregoing time limitations into the Redevelopment Plan, the Redevelopment Plan is hereby amended in pertinent part as follows: 2.1 Section V, [§502] Tax Increment Funds, is hereby amended to read as follows: [§502] All taxes levied upon taxable property within the Project Areas each year by or for the benefit of the State of California,the County of Riverside,the City of Palm Springs, any district or any other public corporation (hereinafter sometimes called "taxing agencies")after the effective date ofOrdinance No. 1227 approving this Plan, shall be divided as follows: 1. That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Redevelopment Project as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency, last equalized prior to the effective date of such ordinance,shall be allocated to and when collected shall be paid into the funds of the respective taxing agencies as taxes by or for said taxing agencies on all other property are paid (for the purpose of allocating taxes levied by or for any taxing agency or agencies which did not include the territory of the Project on the effective date of such ordinance but to which such territory is annexed or otherwise included after such effective date, the assessment roll ofthe County of Riverside last equalized on the effective date of said ordinance shall be used in determining the assessed valuation of the taxable property in the Project on said effective date); and 2. That portion of said levied taxes each year in excess of such amount shall be allocated to and when collected shall be paid into a special fund of the Agency to pay the principal of and interest on loans, monies advanced to, or indebtedness(whether funded,refunded, assumed,or otherwise)incurred by the Agency to finance or refinance, in whole or in part, this Project for a period not to exceed fifty(50)years from September 19, 1984, the effective date of Ordinance 1227 approving this Plan(i.e.,to and including September 19,2034). This time limit shall not be applied to the allocation of taxes to the extent required by the Agency to implement the low and moderate income housing program. Unless and until the total assessed valuation of the taxable property in the Project exceeds the total assessed value of the taxable properties in the Project as shown by the last equalized assessment role referred to in paragraph(A)hereof,all of the taxes levied and collected upon the taxable property in the Project shall be paid into the funds of the respective taxing agency. When said loans, advances, and indebtedness, if any,and interest thereon, have been paid,all monies thereafter received from taxes upon the taxable property in the Project shall be paid into the funds of the respective taxing agencies as taxes on all other properties are paid. The portion of taxes mentioned in subdivision 2 above are hereby irrevocably pledged for the payment of the principal of and interest on the advance of monies, or making of loans or the incurring of any indebtedness(whether funded,refunded,assumed,or otherwise)by the Agency to finance or refinance the Project,in whole or in part. The Agency is authorized to make such pledges as to specific advances, loans and indebtedness as appropriate in carrying out the Project. The portion of taxes divided and allocated to the Agency pursuant to subdivision 2 of this Section 502 shall not exceed a cumulative total of$65,000,000 in constant 1984 dollars or, if bonds are issued or reimbursement agreements are entered into with other public agenci8N-a cumulative total of$65,000,000 in constant 1984 dollars. The Agency is authorized to issue bonds from time to time,if it deems appropriate to a _4 - ` s a_a• GG do so, in order to finance all or any part of the Project. Neither the members of the Agency nor any person executing the bonds are liable personally on the bonds by reason of their issuance. The bonds and other obligations of the Agency are not a debt ofthe City or the State, nor are any of its political subdivisions liable for them,nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the Agency, and such bonds and other obligations shall be so stated on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. The amount of bonded indebtedness to be repaid in whole or in part from the allocation of taxes described in subdivision 2 above which can be outstanding at any one time shall not exceed $65,000,000 in constant 1984 dollars. The Agency shall not establish or incur loans, advances, or indebtedness to finance, in whole or in part, the Project beyond September 19, 2004. Loans, advances or indebtedness may be prepaid over a period of time beyond said time limit. This limit shall not prevent incurring debt or repaying debt to the Low and Moderate Income Housing Fund of for other Agency housing obligations,or shall this limitation prevent the Agency from refinancing,refunding,or restructuring indebtedness after this time limit if the indebtedness is not increased and the time during which the indebtedness is to be repaid does not exceed the date on which the indebtedness would have been paid. 2.2 Section VM, [§800] Duration of This Plan, is hereby amended to read as follows: VIII. [§800] DURATION OF THIS PLAN Except for the nondiscrimination and nonsegregation provisions which shall run in perpetuity, the provisions of this Plan shall be effective and the provisions of other documents pursuant to this Plan shall be effective until September 19, 2024,the date that is forty(40)years from the effective date of Ordinance No. 1227 approving this Plan. THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE HIGHLAND-GATEWAY REDEVELOPMENT PROJECT Adopted , 1999 Ordinance No. Prepared by CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY PALM SPRINGS, CALIFORNIA a _� -47 a _a_`g PREFACE The Redevelopment Plan ("Redevelopment Plan")for the Highland-Gateway Redevelopment Project was adopted on November 20, 1984, by City Council Ordinance No. 1231. The Redevelopment Project has been amended two times: on December 21, 1994 by Ordinance No. 1491 and on ' 1999 by Ordinance No. _. The 1994 amendment added and revised the plan's financial time limits to collect tax increment to November 20, 2024 and to incur indebtedness to November 20, 2004 (except in the case of refunding debt or debt for low and moderate income housing purposes)in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). The 1999 Amendment merged the Project with the Central Business District Project, the Tahquitz-Andreas Project, the Ramon- Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project , Project Area No. 9, and the Canyon Redevelopment Project(collectively, the"Merged Redevelopment Project")pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. This proposed amendment is the third amendment("Third Amendment") to the Redevelopment Plan for the Highland-Gateway Redevelopment Project("Project'). The purpose of this proposed Third Amendment is to extend the time limit to collect tax increment to 2034 in conformity with the new Community Redevelopment Law maximums established by AB 1342(Chapter 635, 1998 Statutes). s. r THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE HIGHLAND-GATEWAY REDEVELOPMENT PROJECT SECTION 1. The time limitations applicable to the Redevelopment Plan pertaining to (i) establishment of loans, advances, and indebtedness, (ii) plan effectiveness, and (iii) payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670, are hereby established,determined,extended in duration where applicable, and confirmed in conformity with the authorization set forth in Health and Safety Code Section 33333.6(f)(2) pursuant to AB1342, as follows: 1.1 The time limit on the establishment ofloans,advances,and indebtedness of November 20, 2004, was previously incorporated into the Redevelopment Plan by Ordinance No. 1491 and is conformity with AB1290 [Health and Safety Code Sections 33333.6(a)(1)] and thus no further amendment to the Redevelopment Plan is necessary with respect to this time limitation. 1.2 The time limit on plan effectiveness shall be November 20, 2024, a date that is forty (40) years from the effective date of Ordinance 1231, the applicable time limit pursuant to Health and Safety Code Section 33333.6(b), as established by AB1290, and Health and Safety Code Section 33333.6(f)(2), as established by AB1342. 1.3 The time limit on payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670 shall be November 20,2034,a date that is ten (10)years following the time limit on plan effectiveness(i e.,fifty(50)years following the effective date of Ordinance No. 1231),the applicable time limit pursuant to Health and Safety Code Section 3333.6(c),as established by AB 1290,and Health and Safety Code Section 33333.6(f)(2), as established by AB 1342. SECTION 2. To incorporate the foregoing time limitations into the Redevelopment Plan, the Redevelopment Plan is hereby amended in pertinent part as follows: 2.1 Section V, [§502] Tax Increment Funds, is hereby amended to read as follows: [§502] All taxes levied upon taxable property within the Project Areas each year by or for the benefit of the State of California,the County ofRiverside,the City of Palm Springs, any district or any other public corporation (hereinafter sometimes called "taxing agencies")after the effective date of Ordinance No. 1231 approving this Plan, shall be divided as follows: 1. That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Redevelopment a _6tuvio Project as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency, last equalized prior to the effective date of such ordinance,shall be allocated to and when collected shall be paid into the funds ofthe respective taxing agencies as taxes by or for said taxing agencies on all other property are paid (for the purpose of allocating taxes levied by or for any taxing agency or agencies which did not include the territory of the Project on the effective date of such ordinance but to which such territory is annexed or otherwise included after such effective date, the assessment roll ofthe County ofRiverside last equalized on the effective date of said ordinance shall be used in determining the assessed valuation of the taxable property in the Project on said effective date); and 2. That portion of said levied taxes each year in excess of such amount shall be allocated to and when collected shall be paid into a special fund ofthe Agency to pay the principal of and interest on loans, monies advanced to, or indebtedness(whether funded, refunded,assumed,or otherwise)incurred by the Agency to finance or refinance, in whole or in part, this Project for a period not to exceed fifty(50)years from November 20, 1984, the effective date of Ordinance 1231 approving this Plan(i.e.,to and including November 20,2034). This time limit shall not be applied to the allocation of taxes to the extent required by the Agency to implement the low and moderate income housing program. Unless and until the total assessed valuation ofthe taxable property in the Project exceeds the total assessed value of the taxable properties in the Project as shown by the last equalized assessment role referred to in*subdivision 1 hereof,all of the taxes levied and collected upon the taxable property in the Project shall be paid into the funds of the respective taxing agency. When said loans, advances, and indebtedness, if any,and interest thereon, have been paid,all monies thereafter received from taxes upon the taxable property in the Project shall be paid into the funds of the respective taxing agencies as taxes on all other properties are paid. The portion of taxes mentioned in subdivision 2 above are hereby irrevocably pledged for the payment of the principal of and interest on the advance of monies, or making of loans or the incurring of any indebtedness (whether funded, refunded, assumed, or otherwise) by the Agency to finance or refinance the Project,in whole or in part. The Agency is authorized to make such pledges as to specific advances, loans and indebtedness as appropriate in carrying out the Project. The portion of taxes divided and allocated to the Agency pursuant to subdivision 2 of this Section 502 shall not exceed a cumulative total of$30,000,000 in constant 1984 dollars or, if bonds are issued or reimbursement agreements are entered into with other•public agencies, a cumulative total of $30,000,000 in constant 1984 dollars. The Agency is authorized to issue bonds from time to time,if it deems appropriate to do so, in order to finance all or any part of the Project. Neither the members of the Agency nor any person executing the bonds are liable personally on the bonds by reason of their issuance. The bonds and other obligations of the Agency are not a debt of the City or the State, nor are any of its political subdivisions liable for them,nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the Agency, and such bonds and other obligations shall be so stated on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction The amount of bonded indebtedness to be repaid in whole or in part from the allocation of taxes described in subdivision 2 above which can be outstanding at any one time shall not exceed $30,000,000 in constant 1984 dollars. The Agency shall not establish or incur loans, advances, or indebtedness to finance, in whole or in part, the Project beyond November 20, 2004. Loans, advances or indebtedness may be prepaid over a period of time beyond said time limit. This limit shall not prevent incurring debt or repaying debt to the Low and Moderate Income Housing Fund or for other Agency housing obligations,or shall this limitation prevent the Agency from refinancing, refunding,or restructuring indebtedness after this time limit if the indebtedness is not increased and the time during which the indebtedness is to be repaid does not exceed the date on which the indebtedness would have been paid. 2.2 Section Vill, [§800] Duration of This Plan, is hereby amended to read as follows: VIII. [§800] DURATION OF THIS PLAN Except for the nondiscrimination and nonsegregation provisions which shall run in perpetuity, the provisions of this Plan shall be effective and the provisions of other documents pursuant to this Plan shall be effective until November 20, 2024, the date that is forty (40)years from the effective date of Ordinance No. 1231 approving this Plan. a -a -7;- THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE . BARISTO-FARRELL REDEVELOPMENT PROJECT Adopted $ 1999 Ordinance No. j . p Prepared by CITY OF PALM SPRING9.C6MMUNI TY REDEVELOPMENT AGENCY PALM SPRINGS,CALIFORNIA PREFACE The Redevelopment Plan("Redevelopment Plan")for the Baristo-Farrell Redevelopment Project was adopted on May 7, 1996, by City Council Ordinance No. 1264. The Redevelopment Project has been amended two times: on December 21, 1994 by Ordinance No. 1491 and on , 1999 by Ordinance No. — The 1994 amendment added and revised the plan's financial time limits to collect tax increment to May 7, 2026 and to incur indebtedness to May 7, 2006(kept in the case of refunding debt or debt for low and moderate income housing purposes) in conformity with new Community Redevelopment Law maximums established by AB 1290(Chapter 942, 1993 Statutes). The 1999 Amendment merged the Project with the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project,the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project; the Baristo-Farrell Project,Project Area No. 9, and the Canyon Redevelopment Project (collectively, the"Merged Redevelopment Project") pursuant to Article 16, Section 33485 et seq. of the Health and Safety Code. This proposed amendment is the third amendment("Third Amendment")to the Redevelopment Plan for the Baristo Farrell Redevelopment Project ("Project"). The purpose of this proposed Third Amendment is to extend the time limit to collect tax increment to May 7, 2036 in conformity with the new Community Redevelopment Law maximums established by AB 1342 (Chapter 635, 1998 Statutes). a twig -1 3 a � •471 THIRD AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE BARISTO-FARRELL REDEVELOPMENT PROJECT SECTION 1. The time limitations applicable to the Redevelopment Plan pertaining to(i) establishment of loans, advances, and indebtedness, (ii) plan effectiveness, and (iii) payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670, are hereby established,determined,extended in duration where applicable,and confirmed in conformity with the authorization set forth in Health and Safety Code Section 33333.6(f)(2) pursuant to A131342, as follows: 1.1 The time limit on the establishment of loans, advances, and indebtedness of May 7, 2006,was previously incorporated into the Redevelopment Plan by Ordinance No. 1493 and is conformity with AB1290 [Health and Safety Code Sections 33333.6(axl)] and thus no further amendment to the Redevelopment Plan is necessary with respect to this time limitation. 1.2 The time limit on plan effectiveness shall be May 7, 2026, a date that is forty(40) , years from the effective date of Ordinance 1264,the applicable time limit pursuant to Health and Safety Code Section 33333.6(b), as established by AB 1290, and Health and Safety Code Section 33333.6(f)(2),as established by AB 1342. 1.3 The time limit on payment of indebtedness and receipt of property taxes pursuant to Health and Safety Code Section 33670 shall be May 7, 2036, a date that is ten(10) years following the time limit on plan effectiveness(i.e.,fifty(50)years following the a. effective date of Ordinance No. 1264),the applicable time limit pursuant to Health and Safety Code Section 3333.6(c),as established by AB 1290,and Health and Safety Code Section 33333.6(f)(2), as established by AB1342. SECTION 2. To incorporate the foregoing time limitations into the Redevelopment Plan, the Redevelopment Plan is hereby amended in pertinent part as follows: 2.1 Section V, [§510]Tax Increments, is hereby amended to read as follows: [§510]Pursuant to Section 33670 ofthe California Health and Safety Code,all taxes levied upon taxable property within the Project Areas each year by or for the benefit of the State of California, the County of Riverside, the City of Palm Springs, any district or any other public corporation (hereinafter sometimes called "taxing agencies")after the effective date of Ordinance No. 1264 approving this Plan, shall be divided as follows: That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Redevelopment Project as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency, last equalized prior to the effective date of such ordinance,shall be allocated to and when collected shall be paid into the fimds of the respective taxing agencies as taxes by or for said taxing agencies on all other property are paid(for the purpose of allocating taxes levied by or for any taxing agency or agencies which did not include the territory of the Project on the effective date of such ordinance but to which such territory is annexed or otherwise included after such effective date, the assessment roll of the County of Riverside last equalized on the effective date of said ordinance shall be used in determining the assessed valuation of the taxable property in the Project on said effective date), and That portion of said levied taxes each year in excess of such amount shall be allocated to and when collected shall be paid into a special fund ofthe Agency to pay the principal of and interest on loans, monies advanced to, or indebtedness(whether funded,refunded,assumed,or otherwise)incurred by the Agency to finance or refinance, in whole or in part, this Project for a period not to exceed fifty(50)years from May 7, 1986,the effective date of Ordinance 1264 approving this Plan(i.e.,to and including May 7,2036). This time limit shall not be applied to the allocation oftaxes to the extent required by the Agency to implement the low and moderate income housing program. Unless and until the total assessed valuation of the taxable property in the Project exceeds the total assessed value of the taxable properties in the Project as shown by the last equalized assessment role referred to in subdivision 1 hereof, all of the taxes levied and collected upon the taxable property in the Project shall be paid into the funds of the respective taxing s. agencies. When said loans, advances, and indebtedness, if any, and interest thereon, have been paid, all monies thereafter received from taxes upon the taxable property in the Project shall be paid into the funds of the respective taxing agencies as taxes on all other property are paid. The portion of taxes mentioned in subdivision 2 above are hereby irrevocably pledged for the payment of the principal of and interest on the advance of monies, or making of loans or the incurring of any indebtedness (whether funded, refunded, assumed, or otherwise) by the Agency to finance or refinance in whole or in part the Baristo-Farrell Redevelopment Project. The Agency is authorized to make such pledges as to specific advances, loans and indebtedness as appropriate in carrying out the Project. Taxes levied in a Project Area and allocated to the Agency as provided in Section 33670. df the California Health and Safety Code may be used anywhere within the territorial jurisdiction of the Agency to finance the construction or acquisition of public improvements which will enhance the a _a•7g a � a.gl& environment of a residential neighborhood containing housing for persons and families of low or moderate income, and public improvements which will be of benefit to the Project Area. 2.2 Section VI, [§800]Duration ofThis Plan's Development Controls,is hereby amended to read as follows: VI. [§610] DURATION OF THIS PLAN'S DEVELOPMENT CONTROLS Except for the nondiscrimination and nonsegregation provisions which shall run in-perpetuity, the land use and development provisions of this Plan shall be effective, and the provisions of other documents formulated pursuant to this Plan shall be effective until May 7,2026,the date that is forty(40)years from the effective date of Ordinance No. 1264 approving this Plan. s. ORDINANCE NO. AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS AMENDING THE CENTRAL BUSINESS DISTRICT PROJECT, THE TAHQUITZ-ANDREAS PROJECT, THE RAMON-BOGIE PROJECT,THE SOUTH PALM CANYON PROJECT,THE OASIS PROJECT,THE NORTHPALM CANYON PROJECT, THE HIGHLAND-GATEWAY PROJECT, THE BARISTO-FARRELL PROJECT, PROJECT AREA NO. 9 AND THE CANYON PROJECT WHEREAS, The Central Business District Redevelopment Project was established on July 11, 1973 by Ordinance No. 959 and amended by Ordinance No. 1276 on November 11, 1986 and Ordinance No. 1497 on December 21, 1994; and WHEREAS,The Tahquitz-Andreas Redevelopment Project was established on July 19,1983 by Ordinance No. 1187 and amended by Ordinance No. 1489 on December 21, 1994;and WHEREAS,The South Palm Canyon Redevelopment Project was established on November 30, 1983 by Ordinance No. 1203 and amended by Ordinance No. 1494 on December 21, 1994;and WHEREAS,The Ramon-Bogie Project was established on November30, 1983 by Ordinance No. 1202 and amended by Ordinance No. 1490 on December 21, 1994; and WHEREAS, The Oasis Redevelopment Project was established on July 10, 1984 by Ordinance No. 1224 and amended by Ordinance No. 1495 on December 21, 1994; and WHEREAS,The North Palm Canyon Redevelopment Project was established on September 19, 1984 by Ordinance No.1227 and amended by Ordinance No. 1498 on December 21, 1994; and WHEREAS,The Highland-Gateway Redevelopment Project was established on November 20, 1984 by Ordinance No. 1231 and amended by Ordinance No. 1491 on December 21, 1994;and WHEREAS,The Baristo-Farrell Redevelopment Project was established on May 7, 1986 by Ordinance No. 1267 and amended by Ordinance No. 1493 on December 21, 1994; and WHEREAS, Project Area No. 9 was established on December 29, 1988 by Ordinance No. 1321 and amended by Ordinance No. 1496 on December 21, 1994; and WHEREAS, The Canyon Redevelopment Project was established on July 19, 1991 by Ordinance No. 1388 and amended by Ordinance No.1492 on December 21, 1994; and WHEREAS,the Redevelopment Agency ofthe City ofPalm Springs(the"Agency")has and continues to conduct redevelopment activities in each of the above listed redevelopment projects, pursuant to the Community Redevelopment Law,Health&Safety Code section 33000, et seq.;and WHEREAS, this Ordinance amends the Central Business District Project, the Tahquitz- Andreas Project, the Ramon-Bogie Project,the South Palm Canyon Project,the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project,Project Area No. 9, and the Canyon Project; and WHEREAS,the purpose ofthe merger ofthe Central Business District Project,the Tahquitz- Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project,the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project,Project Area No. 9, and the Canyon Project will be for efficiency in administration and financing of all redevelopment projects; and 1 b WHEREAS, after providing notice in accordance with all applicable laws, the City Council and the Agency held a joint public hearing on July 21, 1999(the"Public Hearing"), to consider the adoption of this Ordinance; and WHEREAS,at the Public Hearing,the City Council and the Agency received oral testimony from all persons wishing to be heard, and in addition incorporated into the record of the Public Hearing the following documents, each of which is incorporated by reference into this Ordinance as though set forth fully herein, as are the minutes of the Public Hearing- A. The affidavit of publication of Notice of the Public Hearing. B. The certificate of mailing of Notice of Public Hearing to each property owner and tenant in each of the Projects to persons,firms or corporations which have acquired property within the Projects. C. The certificate ofmailing ofNotice ofPublic Hearing to the governing bodies of each taxing agency within the Projects. D. Agency Report to the City Council. E. The CEQA Review. F. The proposed Amendments to the Redevelopment Plans for the Central Business District Project,the Tahquitz-Andreas Project,the Ramon-Bogie Project,the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project, Project Area No. 9, and the Canyon Project; and G. Public Communications concerning the Amendment; and WHEREAS pursuant to section 33457.1 ofthe Health and Safety Code,which indicates that this Ordinance must contain the findings required by section 33367 of said Code, to the extent warranted, the City Council makes the following findings: "(I) It has been determined previously that the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9 and the Canyon Projects are blighted and that the redevelopment of each said Project is necessary to effectuate the public purposes of the Community Redevelopment Law, such conditions continuing to exist in the Projects; (2) The Redevelopment Plans for each of the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9 and the Canyon Projects, as described above, as amended by this Ordinance,will continue to cause redevelopment in the areas in conformity with the California Redevelopment Law, and in the interests of the public peace, health, safety and welfare; (3) The adoption and carrying out of all of the subject Redevelopment Plans,as amended, is economically sound and feasible; (4) - The Redevelopment Plans, as amended, conform to the General Plan of the City of Palm Springs,including,but not limited to,the City's Housing Element,which substantially complies with the requirements of Article 10.6 of Chapter 3 of Division 1 of Title 7 of the Government Code; 2 (5) The carrying out of the Redevelopment Plans, as amended, will continue to promote the public peace,health,safety and welfare of the City,and will continue to effectuate the purposes and policy of the California Redevelopment Law; (6) The execution of the time period in which to utilize the power of eminent domain is necessary to the execution of all redevelopment plans, and adequate provisions have been made for payment for property to be acquired as provided by law; (7) The Agency has a feasible method and plan for the relocation of families and persons who might be displaced, temporarily or permanently, from housing facilities in the Projects; (8) There are, or will be provided, within the Projects or other areas not generally less desirable in regard to public utilities and public and commercial facilities and at rents or prices within the financial means of the families and persons who might be displaced from the Project areas,decent, safe and sanitary dwellings equal in number to the number of and available to such displaced families and persons and reasonably accessible to their places of employment; (9) Families and persons shall not be displaced prior to the adoption of a relocation plan pursuant to sections 33411 and 33411.1 of the Health& Safety Code, and dwelling units housing persons and families of low or moderate income shall not be removed or destroyed prior to the adoption of a replacement housing plan pursuant to sections 33334.5, 33413 and 33413.5 of said Code; (10) Some areas remain blighted or are necessary for redevelopment,and are not included in this Ordinance for the purpose of obtaining the allocation of taxes from those areas pursuant to Section 33670 of the Health& Safety Code without substantial justification for their inclusion; (11) It has been determined previously that the inclusion of any lands, buildings, or improvements which are not detrimental to the public health, safety, or welfare is necessary for the effective redevelopment of the areas ofwhich they are a part,and that all areas included are necessary for effective redevelopment and are not included for the purpose of obtaining the allocation of tax increment revenues from such areas pursuant to section 33670 of the Health&Safety Code without substantial justification for their inclusion, such determination continues to be correct in all Project areas; (12) The elimination of blight and the redevelopment of all Projects could not reasonably be expected to be accomplished by private enterprise acting alone without the aid and assistance of the Agency; (13) All Projects are predominantly urbanized, as defined by subdivision (b) of section 33320.1 of the Health and Safety Code; (14) The City Council is satisfied that permanent housing facilities will be available within three years from the time occupants of the Projects are displaced and that, pending the development of the facilities, there will be available to the displaced occupants adequate temporary housing facilities at rents comparable to those in the community at the time of their displacements;and WHEREAS, the adoption of this Ordinance is in compliance with the requirements of the California Environmental Quality Act, Public Recourse Code, section 2100, et seq.; NOW,THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DOES ORDAIN AS FOLLOWS: Section 1: Any and all written and oral objections filed with or presented to the City Council in regard to the adoption of this Ordinance are hereby overruled. The written responses to those written objections are hereby adopted by the City Council, which responses are incorporated by reference as though set forth fully herein. 3 a b 3 Section : The City Council hereby approves and adopts the amendments to the Redevelopment Plans for the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project, Project Area No. 9 and the Canyon Project, as set forth in Exhibit "A", attached hereto, which Exhibit is incorporated by reference as though set forth fully herein. Section 3: The Redevelopment Plans, as amended, shall be known as the "Merged Redevelopment Plan' for the Merged Redevelopment Project, and each such Plan is hereby designated as the official Redevelopment Plan of each respective Redevelopment Project. Section 4: The applicable provisions of each of the Central Business District Project, the Tahquitz-Andreas Project, the Ramon-Bogie Project, the South Palm Canyon Project, the Oasis Project,the North Palm Canyon Project,the Highland-Gateway Project,the Baristo-Farrell Project, Project Area No. 9 and the Canyon Project Redevelopment Plans and the Ordinances adopting each Plan shall be deemed amended to provide that the shall be merged and designated the Merged Redevelopment Project. Section 5: It is found and declared that receipts and expenditures from and into each of the Project areas, and into areas of the City not within a Project, are of substantial benefit to each of the Redevelopment Projects and to the City, and, subject to the provisions contained in proceedings for the issuance of any bonded indebtedness of the Agency outstanding on the effective date of this Ordinance,tax increment from any of the Projects may be used in any other of such Projects or in the City for any lawful purpose. Section 6:The Agency has established the Low and Moderate Income Housing Fund and has made the findings required by Health and Safety Code §§33334.2 and 33334.3 as to the amount heretofore and hereafter to be deposited into such Fund, which findings are deemed to be applicable under the requirements of Health and Safety Code §33487(a). Section 7: The Agency is authorized to incur indebtedness by bond resolution(s) or other agreement(s)for the Central Business District Project, the Tahquitz-Andreas Project, the Ramon- Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project, Project Area No. 9 and the Canyon Project, or for such Redevelopment Projects as their respective areas are merged, pursuant to this Ordinance, pledging tax increment in such amount(s) as may be necessary(including reserve funds and costs)to finance or refinance indebtedness evidenced by resolutions or agreements pledging tax increment which are existing on the effective date of this Ordinance, and the amounts needed to service such indebtedness and the amounts paid under the Agreement referred to in the recitals hereof shall have a lien and claim upon the tax increment prior to the elimination of any deficit which may be created pursuant to Health and Safety Code§33487(d). The requirements of Health and Safety Code §33488 have been met. Section 8: Subject to applicable law, taxes attributable to each constituent Project area merged pursuant to the Ordinance which are allocated to the Agency pursuant to Section 33670 of the California Community Redevelopment Law, pursuant express action by the Agency, may be: A. Allocated by the Agency to the entire merged Project for the purpose of paying the principal of, and interest on, preexisting or future indebtedness incurred by the Agency to finance or refinance, in whole or in part, the merged Redevelopment Project; B. Allocated by the Agency expressly to one or more constituent Projects. Merger of the constituent projects itself is not deemed to be a cross-pledge of tax increment among the constituent Projects without specific future express action by the Agency. 4 I s • Section 9: The Central Business District Project, the Tahquitz-Andreas Project,the Ramon- Bogie Project, the South Palm Canyon Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, the Baristo-Farrell Project, Project Area No. 9 and the Canyon Project are hereby merged pursuant to the provisions of Health and Safety Code §33486. Section 10: If any section, subsection, sentence, clause, phrase, or portion of this Ordinance or the application thereof to any person, firm corporation, or circumstance is for any reason held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the remaining portions thereof. The City Council of the City of Palm Springs hereby declares that it would have adopted the Ordinance and each section, subsections, sentences,clauses, phrases,or portion hereof,irrespective ofthe fact that any one or more sections,subsection,sentence, clause, phrase, or portions be declared invalid or unconstitutional. Section 11: The City Clerk is hereby directed to transmit a copy of this Ordinance to the Agency, which shall be responsible for carrying out the Redevelopment Plans, as amended. Section l21 This Ordinance shall be in full force and effect thirty(30) days after passage. Section 1 : The City Clerk is hereby ordered and directed to certify to the passage of this Ordinance, and to cause the same or summary thereof, or a display advertisement, duly prepared according to law, to be published in accordance with law. ADOPTED this day of 1999. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED AND APPROVED AS TO FORM: 5