HomeMy WebLinkAbout02690 - RIVERSIDE COUNTY FLOOD CONTROL DISTRICT PA9 PASSTHRU TAX INCREMENT AGR Riv Co Fld Contrl Oistr - PA9
Pass-t"ru tax- increment
- CRA AGR #206 - CITY AGR #2690
R606, R16727, 4-5-89
1 COOPERATION AGREEMENT
BETWEEN THE RIVERSIDE COUNTY FLOI.--
2 AND WATER CONSERVATIONi ➢ISTRICT,
THE CITY OF PALM SPRINGS
3 AND
PALM SPRINGS REDEVELOPMENT AGENCY
4
THIS AGREEMENT is entered into on the CLAY 213D day of
5
, 1989, by and between the RIVERSIDE COUNTY FLOOD
6
7 CONTROL AND WATER CONSERVATION DISTRICT, a public agency
8 ( "District" ) , and the PALM SPRINGS REDEVELOPMENT AGENCY, a public
9 body ( "Agency" ) , and THE CITY OF PALM SPRINGS, a municipal
corporation ( "City" ) .
10
11 WHEREAS, City and Agency have adopted the Redevelopment Plan
12 for the Palm Springs Redevelopment Project Area No. 9 ( "Project" )
13 pursuant to the California Community Redevelopment Law (Health
14 and Safety Code Section 33000, et seq. ) ;
7.5 WHEREAS, District is an affected taxing entity which has
16 general purpose and special bonded indebtedness ad valorem
17 property taxes levied on its behalf by Riverside County ' s
1$ Assessor on all of the property located in the proposed project
area in Fiscal Year 1988--89;
19
20 WHEREAS, District has submitted to the Agency objections
21 regarding the detrimental financial impact the Project will have
on the District;
_ 22
23 WHEREAS, City and Agency have found and determined that there
24 is substantial evidence to support their finding of detrimental
25 financial impact for the District and it would be appropriate to
26 alleviate any financial burden or detriment caused to District by
27 the Project by authorizing payment to District of certain monies;
28
1 _ MAY 2 1989 ? /
1 WIiEREAS, Agency and City desire to resolve and settle once
2 and for all times, all present, past and future controversies,
g claims, causes of action or purported causes of action,
4 differences or disputes, both real and potential, arising against
5 Agency and City in relation to the Project and the Plan; and
6 WHEREAS, District, City and Agency, in consideration of the
7 mutual undertaking, desire to settle their differences and
s cooperatively provide for the redevelopment of certain areas of
9 the City. This Agreement is a compromise and settlement of
1D claims and liabilities alleged by District in relationship to the
11 Project.
12 NOW, THEREFORE, in consideration of the foregoing and the
13 mutual promises and covenants contained herein, the parties
14 hereto agree as follows:
15 Section 1 . Definition
16 (a) "District" shall mean the Riverside County Flood Control
17 and Water Conservation District, a ,political subdivision of the
18 State of California.
19 (b) "City" shall mean the City of Palm Springs, a municipal
20 corporation.
21 (C) "Agency" shall mean the Palm Springs Redevelopment
22 Agency•
23 (d) "Project" and "Project Area" shall mean the specific
24 geographical area and redevelopment activities as set forth in
25 the Redevelopment Plan for the Palm Springs Redevelopment Project
26 Area No. 9.
27
28
- 2 -
1
(e) "Project Improvements" shall mean the specific
2
improvements as set forth in the "Revised Master Drainage Plan
3
for the Palm Springs Area" and identified in Exhibit A which is
4
attached hereto and by this reference is incorporated herein.
5
( f) "Tax Increment" shall mean that portion of property
6
taxes resulting from the increase in assessed evaluation in the
7
Project Area over the base year assessed evaluations in the
8
Project Area, as defined in Section 33670 of the Health and
9
Safety Code. "Tax Increment" shall refer to those taxes raised
10
as a result of the 1% levy allowed under ARTICLE XIIIA of the
11
Constitution of the State of California. "Tax Increment" as
12
referred to in this Agreement, shall not include those taxes
13
levied in excess of the 1% general levy.
14
(g) "District Share" shall mean that portion of "Tax
15
Increment" as computed by the County Auditor-Controller in
16
accordance with the applicable provisions of the Revenue and
17
Taxation Code of the State of California.
18
Section 2 . Distribution of Tax Increment
19
Tax Increment shall be allocated by Riverside County
20
Auditor-Controller as follows, subject to the limits of Section
21
33675 (d) of the Health and Safety Code_
22
(a) For the initial six (6) years following the date of
23
adoption of the Redevelopment Plan, the Agency is to receive one
24
hundred percent (100% ) of the District' s Share.
25
26
27
28
- 3 -
(b) Commencing in the seventh year following the date of
1
adoption of the Plan, the Agency is to receive fifty percent
2
(50% ) of the District' s Share, the balance is to be paid to the
3
District.
4
(c) In no event is the District' s Share of Accumulated Tax
5
Increment to be distributed to the Agency to exceed the actual
6
cost for the engineering, administration and construction of the
7
Project Improvements. The District will prepare annually a
8
statement that will set forth the projected and actual cost for
9
engineering, administration and construction of the Project
10
improvements that will be distributed to both the Agency and the
11
Auditor--Controller.
12
(d) District may augment the Agency' s funds for completion
13
of the Project Improvements with Zone 6 ad valorem taxes, Zone 6
14
benefit assessment revenues, developer fees, assessment district
15
revenues or other sources that may be made available to construct
16
the Project Improvements. Should such augmentations be made, an
17
equivalent amount will be credited toward to the District' s Share
18
of Accumulated Tax Increment that is to be distributed to the
19
Agency as set forth in subsection (c) above.
20
(e) District is to receive one hundred percent (100% ) of its
21
share when any of the following occurs:
22
1 . The expiration or termination of the Redevelopment
23
Plan;
24
2 . Agency has received an amount equivalent to that set
25
forth in subsection (c) above.
26
27
26
4 -
I The determination of the amounts allocable pursuant to this
2 Section 2 shall accommodate the following three principles, which
3 shall control in the event of any conflict between the principles
4 and any other provision of this Agreement. The principles are as
5 follows: First, the parties intend that the calculation of the
6 Agency' s share of increments assumes that the provisions of
7 Section 33334. 2 will be applied only to those funds ultimately
8 received by the Agency, and not those passed-through by the
9 Agency to the District or any other public agency. In the event
10 that the set-aside provision is found to be applicable to all Tax
11 Increments generated by the Project, the District and the Agency
12 agree to adopt appropriate amendments to this Agreement so that
13 the Agency will receive as its share of increments an amount
14 calculated as if the set-aside were not applicable to passed-
15 through funds. Second, under no circumstances is the District to
16 receive for any year (by virtue of this Agreement) payments in
17 excess of the amount of property tax revenues which would have
18 been received by the District if all the property tax revenues
19 from the Project Area had been allocated to all the affected
20 taxing agencies without regard to any division of taxes pursuant
21 to Health and Safety Code Section 33670. Third, the District
22 shall not be allocated funds where the effect would be to violate
23 the District' s expenditure limitation under ARTICLE XIII .B of the
24 California Constitution.
25 Section 3 . Scheduling of Project Improvements
26 (a) Sy the conclusion of the tenth year following the date
27 of the adoption of the Redevelopment Plan, the Agency is to have
28
5 -
1 expended 15% of the District- Share accumulated by the Agency
2 toward the engineering, administration, and construction of the
3 Project Improvements.
4 (b) By the conclusion of the twentieth year following the
5 date of the adoption of the Redevelopment Plan, the Agency is to
6 have expended 75% of the District Share accumulated by the Agency
7 toward the engineering, administration, and construction of the
6 Project Improvements.
g (c) By the conclusion of the thirtieth year following the
10 date of the adoption of the Redevelopment Plan, and for each five
11 year anniversary thereafter, the Agency will have expended 100%
12 of the District Share accumulated by the Agency toward the
13 engineering, administration, and construction of the Project
14 Improvements.
15 (d) At the conclusion of the tenth, twentieth and thirtieth
16 years following the date of adoption of the Redevelopment Plan,
17 and for each five year anniversary thereafter, the Agency shall
],8 demonstrate to the District, compliance with Section 3 (a) , (b) ,
19 and (c) above.
20 Section 4. Construction of Project Improvements
21 The District shall supervise and approve the design and
22 construction of the Project Improvements and, upon completion of
23 said Project Improvements, shall assume responsibility for
24 maintenance of the Project Improvements.
25 Section 5 . Modification and Termination
26 If, after this Agreement is executed, State enacts laws or
27 policies in conflict with all or any portion of this Agreement,
28
1 Agency and District may mutually agree to excuse performance of
2 all or any portion of this Agreement by Agency or District. In
3 the event any section or portion of this Agreement shall be held,
4 found or determined to be unenforceable or invalid for any reason
5 whatsoever, the remaining provisions shall remain in effect, and
6 the parties thereto shall take further actions as may be
7 reasonably necessary and available to them to effectuate the
8 intent of the parties as to all provisions set forth in this
9 Agreement.
10 Section 6. Effective Date and Term
11 This Agreement shall become effective upon the date of
12 execution of this Agreement and shall remain in effect during the
13 term of the Redevelopment Plan.
14 Section 7 . Entire Agreement
1.5 This Agreement constitutes the entire, complete and final
16 expression of agreements between the parties.
17
1s
19
20
21
22
23
24
25
26
27
28
7
1 IN WITNESS WI3EREOF, the parties have executed this Agreement
2 on the day and year first written above.
3
RIVERSIDE COUNTY FLOOD CONTROL
4 _ - AND WATER CONSERVATION DISTRICT
ATTEST; I (
5
GERALD --A_._ MALONEY, Clerk
6 =
�- BY
7 - chair an, Board of Supervisors
8 neput '
By� Facslmi!e Signature
i affixed by Clerk per
Sec. 25103 Gov, Q)d9)
CITY OF PALM SPRINGS
10 ATTEST:
11
BY � �� � _�� By d
12 JUD_ITH SUMICK NORMAN R. KING
City Clerk City Manager
13
14
PALM SPRINGS REDEVELOPMENT.' AGENCY
15 ATTEST:
16
j By
17 A, t. Secretary Ch man REDLY.
7.i3 1-' 9_' -" IJhJ 'LG9L" L.`G3' i1G4t4dvG�IY .
19 Attachment 4 t4""i BY RnEs.
2� AGRMT391 .AGRMT FORM APPROVED
eounrr COUNSEL
21 AFP VED AS TO FORMA MAR 14 1TW9
22 BY . V L'Q
23 a y��A��tto__rney
24 1aI1w �.J9�LN�_
25
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