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HomeMy WebLinkAbout4/21/2004 - STAFF REPORTS (16) DATE: APRIL 21, 2004 TO: CITY COUNCIL FROM: DIRECTOR OF COMMUNITY& ECONOMIC DEVELOPMENT CONSIDERATION OF TIME EXTENSIONS FOR EFFECTIVENESS OF REDEVELOPMENT PLANS, EXTENDING THE TIME LIMITS FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF PROPERTY TAXES UNDER THE REDEVELOPMENT PLANS, AND ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS, ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE REDEVELOPMENT PLANS RECOMMENDATION: That the City Council introduce and conduct the first reading of: 1) Ordinance No. to extend the existing time limits for redevelopment activities, for payment of indebtedness and receipt of tax increment revenues forthe Merged Redevelopment Plan for Merged Redevelopment Project No. 1 pursuant to Health and Safety Code Sections 33333.6(e)(2)(C) and 33333.2(c); and 2) Ordinance No._to extend the existing time limits for redevelopment activities, for payment of indebtedness and receipt of tax increment revenues for the Merged Redevelopment Plan for Merged Redevelopment Project No.2 pursuant to Health and Safety Code Sections 33333.6(e)(2)(C) and 33333.2(c); and 3) Ordinance No. to eliminate the time limit on establishment of loans, advances and indebtedness with respect to the Merged Redevelopment Plan for Merged Redevelopment Project No. 1 pursuant to Health and Safety Code Section 33333.6(e)(2); and 4) Ordinance No. to eliminate the time limit on establishment of loans, advances and indebtedness with respect to the Merged Redevelopment Plan for Merged Redevelopment Project No.2 pursuant to Health and Safety Code Section 33333.6(e)(2). SUMMARY: The two proposed ordinances for the extension of time limits for redevelopment activities, for payment of indebtedness and receipt of tax increment revenues for the Redevelopment Plans for Merged Redevelopment Project No. 1 and Merged Redevelopment Project No. 2, are in keeping with the provisions of Senate Bill 1045 which became effective on September 2, 2003. The two proposed ordinances to eliminate time limits on establishment of loans, advances and indebtedness with respect to these two Project Areas are in accordance with the provisions of California Community Redevelopment Law Section 33333.6(e)(2) as amended by Senate Bill 211 which became effective on January 1, 2002. The combined effect of these four ordinances would allow for the future refinancing of Community Redevelopment Agency bonds to take advantage of lower interest rates currently available in the financial markets. BACKGROUND: Assembly Bill 1290 which became effective in 1994 imposed certain time limits on redevelopment plans including time limits on incurring debt, receipt of tax increment and effectiveness of the plan. ,, The State Legislature passed Senate Bill 1045 on August 19, 2003, which became effective September 2, 2003. SB 1045 requires redevelopment agencies to make certain payments to the county auditor for deposit into the county's Educational Revenue Augmentation Fund, but also permits redevelopment agencies which make such payments to amend their redevelopment plans by extending the time limits contained in such redevelopment plans by one year for redevelopment activities and for receipt of tax increment revenues. Such an amendment simply requires the adoption of an ordinance by the city council without any noticing, hearing, or documentation requirements normally applicable to a redevelopment plan amendment, although standard ordinance adoption procedures must be followed. Health and Safety Code Section 33681.9 requires the Agency to make an ERAF payment of $277,000 to Riverside County Auditor on May 10, 2004. The ultimate beneficiary of this payment is the State of California. Accordingly, the City is authorized to adopt the Ordinances extending the time limits for redevelopment activities and receipt of tax increment revenues with respect to the Merged Redevelopment Plans for Merged Redevelopment Project No. 1 and Merged Redevelopment Project No. 2. The City is also authorized to adopt Ordinances eliminating the time limits on establishment of loans, advances and indebtedness with respect to these two Project Areas in accordance with the provisions of California Community Redevelopment Law Section 33333.6(e)(2) as amended by Senate Bill 211 which became effective on January 1, 2002. The combined effect of these four ordinances would allow for the future refinancing of Community Redevelopment Agency bonds to take advantage of lower interest rates currently available in the financial markets. Most redevelopment plan amendments will trigger statutory pass-through payments to all taxing entities with whom the agency does not already have a pass-through agreement. This will not be the case for an amendment adopted pursuant to SB 1045. However, SB 211 does contain provisions that provide for statutory pass- through increases in the 11th and 21st year if the Agency does not have an existing pass-through agreement with the taxing agency. The impact overall on the Agency is that the net tax increment would be reduced by a projected amount of 5% to 9% over the life of the project area; however,this decrease is more than offset by the projected increases in increment due to future growth from the assisted projects, as well as the ability of the Agency to continue to collect tax increment past the current expiration dates of today's bonds in 22 years. A letter explaining the financial impact of the SB 211 Amendment from the Agency's financial advisor, Suzanne Harr Il, is attached to provide more detail. JOHNS RAYMO DiKqEto of Comm ty& Economic Development APPROVED City Manager �<5 ATTACHMENTS: 1. Letter dated April 4, 2004 from Suzanne Harrell, Agency Financial Advisor 2. Resolutions 1 b i�Jy'r April 4,2004 John Raymond City of Palm Springs 3200 E.Tahquita Canyon Way Palm Springs, CA 92262 RE: SB 211 Ordinance Dear John: I have prepared an analysis of the financial impact of the statutory tax sharing that would be payable by the Redevelopment Agency if it adopts an ordinance to eliminate the current January 1, 2004 limitation on incurring debt (commonly referred to as the "SB 211 Ordinance'. There are two redevelopment projects (Citywide and Canyon) that have a limit other than January 1, 2004, but the same methodology described below would apply to those projects once their limit had been reached. SB 211 Mechanics: The payments that would be paid under the statutory provisions are calculated by establishing 2004 as a "base year" and measuring future tax increment revenues against the 2004 tax increment revenues. Any increase in tax increment revenues above the amount of 2004 tax increment is referred to as "First Tier" increment. Under SB 211, the Agency would be required to distribute 25% of the First Tier increment to all affected taxing entities, after setting aside 20% for housing. This formula makes the First Tier statutory passthrough the equivalent of 20% of gross First Tier increment. Any taxing agencies that already have a passthrough agreement with the Agency continue to receive payments under their existing agreement and are excluded from statutory passthoughs. In addition to the First Tier statutory passthrough, the Agency would be subject to additional statutory payments beginning in the eleventh year, or 2015. The calculation method is the same as the First Tier with the exception of the percentage. These payments are calculated by establishing 2014 as a "base year" and measuring future tax increment revenues against the 2014 tax increment revenues. Any increase in tax increment revenues above the amount of 2014 tax increment is referred to as "Second Tier" increment. Under SB 211, the Agency would be required to distribute 21% of the Second Tier increment to all affected taxing entities, after setting aside 20% for housing. This formula makes the Second Tier statutory passthrough the equivalent of 16.8% of gross Second Tier increment. John Raymond April 4,2004 Page 2 Tax Increment Projections: To assess the financial impact of an SB 211 Ordinance, I prepared a projection of your existing tax increment revenue and passthroughs before and after the adoption of the ordinance to eliminate the time limit. The tax increment shown in Table Nos. 1 and 2 on the follwing pages is based on the existing assessed value increased by annual 2%growth. You will see a relative minor impact on net tax increment in the early years, growing over time. Based on Table No. 1, the total impact would be a net reduction in Merged Project No. 1 tax increment to the Agency of$9,155,000 from a total tax increment of $157,094,000 over the remaining life of the Redevelopment Project, or 5.8% of gross tax increment. Based on Table No. 2, the total impact would be a net reduction in Merged Project No. 2 tax increment to the Agency of$5,028,000 from a total tax increment of$112,851,000 over the remaining life of the Redevelopment Project,or 4.5% of gross tax increment. Because there is the potential for growth above 2% inflation, I prepared a second projection that includes 4% growth for 10 years and 2% thereafter. Using the same format, Table No. 3 shows a net reduction in Merged Project No. 1 tax increment to the Agency of$14,242,000 from a total tax increment of$199,974,000 over the remaining life of the Redevelopment Project, or 7.1% of gross tax increment. Table No. 4 shows a net reduction in Merged Project No. 2 tax increment to the Agency of $7,711,000 from a total tax increment of $140,018,000 over the remaining life of the Redevelopment Project,or 5.5% of gross tax increment. Although the reductions may seem like a significant number and a possible reason not to adopt an SB 211 Ordinance,you may consider that the Agency can only collect tax increment in any event to the extent that it has debt. The Agency's 1994 Bonds will be paid in full in 2022. The Agency currently has its City Loan, a reimbursement agreement for a portion of the convention center from the Tahquitz-Andreas project area and a few owner participation agreements as its only other debt. If the Agency were not to incur any additional debt, the 1994 Bonds and the other debt would be paid off well before the end of the Agency's authority to collect tax increment and the Agency would not receive tax increment it would otherwise be entitled to under the tax increment limits. Eliminating the January 1, 2004 limit on incurring debt will provide you will an opportunity to enter into DDA's and other obligations and allow you to capture at least 12 years of increment you might otherwise forfeit based on the Agency's pre January 1, 2004 debt burden. This is as much as a net $52 million in Merged Project No. 1 and$33 million in Merged Project No. 2, based on a 2%annual growth in assessed value. I� John Raymond AprIl 4,2004 Page 3 TABLE NO. 1 MERGED PROJECT NO. 1 TAX SHARING BASED ON 2% GROWTH IN ASSESSED VALUE Gross Tax 33607.7 %of Increment %of Increment Tax Sharing Tax Paid Pre- Paid Post- Increment Agreements Sharing SB 211 1 SB 211 Increase 2004 3,510,000 316,000 - 9.0% 9.0% 0.00/. 2005 3,634,000 375,000 13,000 10.3% 10.7% 0.40A 2006 3,759,000 391,000 25,000 10.4% 11.1% 0.70/a 2007 3,888,000 407,000 38,000 10.5% 11.4°/u 1.00/ 2008 4,018,000 505,000 51,000 12.6% 13.8% 1.30/a 2009 4,152,000 525,000 64,000 12.6% 14.2% 1.50/a 2010 4,286,000 559,000 84,000 13.0% 15.0% 2.0% 2011 4,423,000 581,000 99,000 13.1% 15.40/. 2.20/u 2012 4,566,000 602,000 117,000 13.2% 15.7% 2.6% 2013 4,709,000 626,000 135,000 13.3% 16.2% 2 9% 2014 4,856,000 648,000 154,000 13.3% 16.5% 3.20/u 2015 5,004,000 671,000 186,000 13.4% 17.1% 3.70/u 2016 5,158,000 694,000 218,000 13.5% 17.7% 4.2% 2017 5,314,000 718,000 252,000 13.5% 18.3% 4.70/u 2018 5,474,000 743,000 286,000 13.6% 18.8% 5.2% 2019 5,634,000 767,000 320,000 13.6% 19.3% 5.7% 2020 5,800,000 794,000 357,000 13.7% 19.8% 6.2% 2021 5,968,000 819,000 397,000 13.7% 20.4% 6.7°/a 2022 6,140,000 847,000 437,000 13.8% 20.9% 7.1°/a 2023 6,315,000 1,007,000 478,000 15.9% 23.5% 7.60A 2024 6,496,000 1,039,000 520,000 16.0% 24.0% 8.00A 2025 4,716,000 1,066,000 355,000 22.6% 30.1% 7.50/. 2026 4,860,000 1,101,000 383,000 22.7% 30.5% 7.90/. 2027 5,007,000 1,134,000 411,000 22.6% 30.9% 8.20/. 2028 5,157,000 1,169,000 442,000 22.7% 31.2% 8.60/. 2029 5,308,000 1,203,000 470,000 22.7% 31.5% 8.90A 2030 5,463,000 1,240,000 500,000 22.7% 31.9% 9.20/. 2031 5,624,000 1,275,000 532,000 22.7% 32.1% 9.50/. 2032 5,785,000 1,313,000 565,000 22.7% 32.5% 9.80/. 2033 5,950,000 1,350,000 596,000 22.7% 32.7% 10.0% 2034 6,120.000 1 389 000 630A00 22.7% 33.0% 10.3% 157,094,000 25,874,000 9,115,000 (1)Several Agreements have increases in the%paid after certain benchmark John Raymond April 4, 2004 Page 4 TABLE NO. 2 MERGED PROJECT NO. 2 TAX SHARING BASED ON 2% GROWTH IN ASSESSED VALUE Gross Tax 33607.7 %of Increment °/n of Increment Tax Sharing Tax Paid Pre- Paid Post- Increment Agreements Sharing SB 211(1) SB 211 Increase 2004 2,361,000 623,000 - 26.4% 26.40/u 0.0% 2005 2,430,000 641,000 6,000 26.4% 26.6% 0.2% 2006 2,502,000 660,000 11,000 26.4% 26.8% 0.4% 2007 2,574,000 679,000 18,000 26.4% 27.1% 0.7% 2008 2,648,000 719,000 24,000 27.2% 28.1% 0.9% 2009 2,723,000 740,000 31,000 27.2% 28.3% 1.1% 2010 2,801,000 761,000 37,000 27.2% 28.5% 1.3% 2011 2,878,000 781,000 44,000 27.1% 28.7% 1.5% 2012 2,958,000 808,000 50,000 27.3% 29.0% 1.7% 2013 3,040,000 831,000 58,000 27.3% 29.2% 1.9% 2014 3,124,000 894,000 65,000 28.6% 30.7% 2.1% 2015 3,209,000 918,000 79,000 28.6% 31.1% 2.5% 2016 3,296,000 944,000 94,000 28.6% 31.5% 2.9% 2017 3,384,000 968,000 107,000 28.6% 31.8% 3.2% 2018 3,474,000 994,000 123,000 28.6% 32.2% 3.5% 2019 3,566,000 1,021,000 137,000 28.6% 32.5% 3.8% 2020 3,660,000 1,125,000 153,000 30.7% 34.9% 4.2% 2021 3,757,000 1,155,000 169,000 307% 35.2% 4.5% 2022 3,854,000 1,457,000 184,000 37.8% 42.6% 4.8% 2023 3,953,000 1,494,000 201,000 37.8% 42.9% 5.1% 2024 4,055,000 1,533,000 219,000 37.8% 43.2% 5.4% 2025 4,159,000 1,573,000 237,000 37.8% 43.5% 5 7% 2026 4,264,000 1,612,000 254,000 37.8% 43.8% 6.0% 2027 4,372,000 1,653,000 273,000 37.8% 44.1% 6.2% 2028 4,482,000 1,696,000 292,000 37.8% 44.4% 6.5% 2029 4,594,000 1,738,000 310,000 37.8% 44.6% 6.7% 2030 4,708,000 1,781,000 330,000 37.8% 44.8% 7.0% 2031 4,825,000 1,826,000 350,000 37.8% 45.1% 7.3% 2032 4,944,000 1,871,000 370,000 37 8% 45.3% 7.5% 2033 5,066,000 1,917,000 391,000 37.8% 45.6% 7.7% 2034 5,190,000 1.965.000 411,000 37.9% 45.8% 7.9% 112,851,000 37,378,000 5,028,000 (1)Several Agreements have increases in the%paid after certain benchmark 1 John Raymond Apn14,2004 Page 5 TABLE NO.3 MERGED PROJECT NO. 1 TAX SHARING BASED ON 4% GROWTH IN ASSESSED VALUE Gross Tax 33607.7 %of Increment %of Increment Tax Sharing Tax Paid Pre- Paid Post- Increment Agreements Sharing SI3211(1) SB 211 Increase 2004 3,510,000 316,000 - 9 0% 9.0% 0.0% 2005 3,757,000 390,000 24,000 10.4% 11.0% 0.6% 2006 4,013,000 422,000 50,000 10.5% 11.8% 1.2% 2007 4,277,000 454,000 78,000 10.6% 12.4% 1.8% 2008 4,553,000 582,000 104,000 12.8% 15.1% 2.3% 2009 4,842,000 624,000 134,000 12.9% 153% 2 8% 2010 5,139,000 688,000 172,000 13.4% 163 3 3% 2011 5,452,000 734,000 211,000 13.5% 17.3% 3.9% 2012 5,773,000 781,000 252,000 13.5% 17.9% 4.4% 2013 6,110,000 833,000 296,000 13.6% 18.5% 4 8% 2014 6,460,000 886,000 339,000 13.7% 19.0% 5.2% 2015 6,641,000 912,000 377,000 13.7% 19.4% 5.7% 2016 6,826,000 942,000 417,000 13.8% 19.9% 6.1% 2017 7,015,000 971,000 458,000 13.8% 20.4% 6.5% 2018 7,208,000 1,000,000 499,000 13.9% 20.8% 6.9% 2019 7,404,000 1,029,000 541,000 13.9% 21.2% 7.3% 2020 7,606,000 1,060,000 587,000 13.9% 21.7% 7.7% 2021 7,810,000 1,091,000 634,000 14.0% 22.1% 8.1% 2022 8,018,000 1,125,000 683,000 14.0°% 22.5% 8.5% 2023 8,232,000 1,337,000 734,000 16.2% 25.2% 8.9% 2024 8,449,000 1,376,000 784,000 16.3% 25.6% 9.3% 2025 6,258,000 1,409,000 524,000 22.5% 30.9% 8.40/6 2026 6,432,000 1,450,000 558,000 22.5% 31.2% 8.7% 2027 6,611,000 1,490,000 593,000 22.5% 31.5% 9.0% 2028 6,792,000 1,531,000 627,000 22.5% 31.8% 9.2% 2029 6,979,000 1,575,000 665,000 22.6% 32.1% 9.5% 2030 7,168,000 1,618,000 702,000 22.6% 32.4% 9.8% 2031 7,361,000 1,661,000 742,000 22.6% 32.6% 10.1% 2032 7,557,000 1,705,000 779,000 22.6% 32.9% 10.3% 2033 7,757,000 1,752,000 818,000 22.6% 33.1% 10.5% 2034 7X4,000 1,797.000 860 000 22.6% 33.4% 10.8% 199,974,000 33,541,000 14,242,000 (1)Several Agteements have increases in the%paid after certain benchmark John Raymond April 4, 2004 Page 6 TABLE NO. 4 MERGED PROJECT NO. 2 TAX SHARING BASED ON 4% GROWTH IN ASSESSED VALUE Gross Tax 33607.7 %of Increment %of Increment Tax Sharing Tax Paid Pre- Paid Post- Inerement Agreements Sharing SB 211 1 B 211 Increase 2004 2,361,000 623,000 - 26.4% 26.4% 0.0% 2005 2,500,000 658,000 11,000 26.3% 26.8% 0.4/a 2006 2,646,000 696,000 24,000 26.3% 27.2% 0.9% 2007 2,795,000 734,000 37,000 26.3% 27.6% 1.3% 2008 2,952,000 799,000 50,000 27.1°% 28.8% 1.7% 2009 3,116,000 843,000 64,000 27.1% 29.1% 2.1% 2010 3,285,000 887,000 77,000 27.0% 29.3% 2.3% 2011 3,462,000 935,000 93,000 27.0% 29.7% 2.7% 2012 3,646,000 991,000 108,000 27.2% 30.1% 3.0% 2013 3,837,000 1,042,600 126,000 27.2°% 30.4% 3.3% 2014 4,035,000 1,147,000 144,000 28.4% 32.0% 3.6% 2015 4,138,000 1,176,000 161,000 28.4% 32.3% 3.9% 2016 4,244,000 1,206,000 179,000 28.4% 32.6% 4.2% 2017 4,351,000 1,237,000 196,000 28.4% 32.9% 4.5% 2018 4,460,000 1,267,000 214,000 28.4% 33.2% 4.8% 2019 4,572,000 1,301,000 232,000 28.5% 33.5% 5.1% 2020 4,685,000 1,435,000 250,000 30.6% 36.0% 5.3% 2021 4,802,000 1,471,000 269,000 30.6% 36.2% 5.6% 2022 4,920,000 1,853,000 288,000 37.7% 43.5% 5.9% 2023 5,042,000 1,898,000 309,000 37.6% 43.8% 6.1% 2024 5,165,000 1,945,000 330,000 37.7% 44.0% 6.4% 2025 5,291,000 1,994,000 351,000 37.7% 44.3% 6.6% 2026 5,419,000 2,041,000_ 373,000 37.7% 44.5% 6.9% 2027 5,550,000 2,091,000 395,000 37.7% 44.8% 7.1% 2028 5,683,000 2,141,000 419,000 37.7% 45.0% 7.4% 2029 5,820,000 2,194,000 441,000 37.7% 45.3% 7.6% 2030 5,959,000 2,246,000 465,000 37.7% 45.5% 7.8% 2031 6,101,000 2,300,000 489,000 37.7% 45.7% 8.0% 2032 6,245,000 2,354,000 513,000 37.7% 45.9°% 8.2% 2033 6,393,000 2,410,000 539,000 37.7% 46.1% 8.4% 2034 6 443 000 2,466000 564.000 37.7% 46.3% 8.6°% 140,018,000 46,381,000 7,711,000 (1)Several Agreements have increases in the%paid after certain benchmark �3 � John Raymond April 4,2004 Page 7 Housing: The Redevelopment Law requires agencies to extend their time and financial limits if necessary to meet an Agency's affordable housing obligations. Because the Agency is funding its Housing Set- Aside and the obligations related to such fund are mandated to be fully carried out by the Agency, eliminating the January 1, 2004 time limit to incur debt will allow the Agency to continue to encumber its Housing Set-Aside money and carry out its affordable housing obligations. Recommendation: In conclusion,given the Agency's need to incur additional debt to assure that it will collect the most possible tax increment revenue over the next 30 years, I recommend that the Agency proceed with the adoption of an SB 211 Ordinance, The SB 211 payments are less than the potential loss of the last years of tax increment when the Agency has paid its current obligations in full. I am happy to answer any questions you may have concerning this information. Very truly yours, Suzanne Harrell ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS, CALIFORNIA EXTENDING THE TIME LIMITS FOR THE EFFECTIVENESS OF THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; EXTENDING THE TIME LIMIT FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF TAX INCREMENT UNDER THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Central Business District, the South Palm Canyon Project, the Ramon-Bogie Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, and Project Area No. 9 (collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1584 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan") for Merged Redevelopment Project No. 1 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1623 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes time limits on the effectiveness of the Amended and Restated Plan and time limits on the period for payment of indebtedness and receipt of property taxes under the Amended and Restated Plan for each of the Constituent Areas; and WHEREAS, by and through Senate Bill 1045, enrolled on August 19,2003 and chaptered on September 2,2003("SB 1045%)CRL Section 33333.6 was amended to provide that as to redevelopment plans originally adopted before January 1, 1994, and when such redevelopment agency is required to make a payment to the Educational Revenue Augmentation Fund in fiscal year 2003-2004 pursuant to CRL 33681.9, the City Council, as the legislative body of the Agency, may enact an ordinance to extend by one year the time limit on the effectiveness of the redevelopment plan and the time limit for payment of indebtedness and receipt of property taxes under the redevelopment plan, each and respectively; and WHEREAS, SB 1045 further provides that such ordinance may be adopted without compliance with the normal procedures for redevelopment plan amendments; and Z b WHEREAS,the City Council desires to adopt this ordinance to amend and extend certain time limitations of the Amended and Restated Plan, as more particularly set forth below, in accordance with Section 33333.6, as amended by SB 1045; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000 et seq.)("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment; and NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRING DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The current time limit on the effectiveness of the Amended and Restated Redevelopment Plan for each of the Constituent Areas is hereby extended by one year as follows: From To Central Business District 07/11/2013 07/11/2014 South Palm Canyon 11/30/2023 11/30/2024 Ramon-Bogie 11/30/2023 11/30/2024 Oasis 07/10/2024 07/10/2025 North Palm Canyon 09/19/2024 09/19/2025 Highland-Gateway 11/20/2024 11/20/2025 Project No. 9 12/29/2028 12/29/2029 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect to the Redevelopment Plan at any time during which the Redevelopment Plan is effective. SECTION 2. The current time limit on paying indebtedness or the receipt of tax increment pursuant to the Amended and Restated Redevelopment Plan and California Community Redevelopment Law for each of the Constituent Areas is hereby extended by one year as follows: From To Central Business District 07/11/2023 07/11/2024 South Palm Canyon 11/30/2033 11/30/2034 Ramon-Bogie 11/30/2033 11/30/2034 Oasis 07/10/2034 07/10/2035 North Palm Canyon 09/19/2034 09/19/2035 Highland-Gateway 11/20/2034 11/20/2035 Project No. 9 12/29/2038 12/29/2039 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect thereto during such extended period. SECTION 3. Except with respect to the amendments set forth herein,the Amended and Restated Redevelopment Plan,as amended herein, is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15094. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED 1 ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS, CALIFORNIA EXTENDING THE TIME LIMITS FOR THE EFFECTIVENESS OF THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; EXTENDING THE TIME LIMIT FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF TAX INCREMENT UNDER THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Central Business District, the South Palm Canyon Project, the Ramon-Bogie Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, and Project Area No. 9 (collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1584 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan") for Merged Redevelopment Project No. 1 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1623 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes time limits on the effectiveness of the Amended and Restated Plan and time limits on the period for payment of indebtedness and receipt of property taxes under the Amended and Restated Plan for each of the Constituent Areas; and WHEREAS, by and through Senate Bill 1045, enrolled on August 19,2003 and chaptered on September 2,2003 ("SB 1045%)CRL Section 33333.6 was amended to provide that as to redevelopment plans originally adopted before January 1, 1994, and when such redevelopment agency is required to make a payment to the Educational Revenue Augmentation Fund in fiscal year 2003-2004 pursuant to CRL 33681.9, the City Council, as the legislative body of the Agency, may enact an ordinance to extend by one year the time limit on the effectiveness of the redevelopment plan and the time limit for payment of indebtedness and receipt of property taxes under the redevelopment plan, each and respectively; and WHEREAS, SB 1045 further provides that such ordinance may be adopted without compliance with the normal procedures for redevelopment plan amendments; and WHEREAS,the City Council desires to adopt this ordinance to amend and extend certain time limitations of the Amended and Restated Plan, as more particularly setforth below, in accordance with Section 33333.6, as amended by SB 1045; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000 et seq.)("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment; and NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRING DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The current time limit on the effectiveness of the Amended and Restated Redevelopment Plan for each of the Constituent Areas is hereby extended by one year as follows: From To Central Business District 07/11/2013 07/11/2014 South Palm Canyon 11/30/2023 11/30/2024 Ramon-Bogie 11/30/2023 11/30/2024 Oasis 07/10/2024 07/10/2025 North Palm Canyon 09/19/2024 09/19/2025 Highland-Gateway 11/20/2024 11/20/2025 Project No. 9 12/29/2028 12/29/2029 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect to the Redevelopment Plan at any time during which the Redevelopment Plan is effective. SECTION 2. The current time limit on paying indebtedness or the receipt of tax increment pursuant to the Amended and Restated Redevelopment Plan and California Community Redevelopment Lawfor each of the Constituent Areas is hereby extended by one year as follows: From To Central Business District 07/11/2023 07/11/2024 South Palm Canyon 11/30/2033 11/30/2034 Ramon-Bogie 11/30/2033 11/30/2034 Oasis 07/10/2034 07/10/2035 North Palm Canyon 09/19/2034 09/19/2035 Highland-Gateway 11/20/2034 11/20/2035 Project No. 9 12/29/2038 12/29/2039 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect thereto during such extended period. SECTION 3. Except with respect to the amendments set forth herein,the Amended and Restated Redevelopment Plan,as amended herein, is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15062. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS, CALIFORNIA EXTENDING THE TIME LIMITS FOR THE EFFECTIVENESS OF THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; EXTENDING THE TIME LIMIT FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF TAX INCREMENT UNDER THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Central Business District, the South Palm Canyon Project, the Ramon-Bogie Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, and Project Area No. 9 (collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1584 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan") for Merged Redevelopment Project No. 1 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carryout the Redevelopment Plan which was amended by Ordinance No. 1623 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes time limits on the effectiveness of the Amended and Restated Plan and time limits on the period for payment of indebtedness and receipt of property taxes under the Amended and Restated Plan for each of the Constituent Areas; and WHEREAS, by and through Senate Bill 1045, enrolled on August 19,2003 and chaptered on September 2, 2003("SB 1045%)CRL Section 33333.6 was amended to provide that as to redevelopment plans originally adopted before January 1, 1994, and when such redevelopment agency is required to make a payment to the Educational Revenue Augmentation Fund in fiscal year 2003-2004 pursuant to CRL 33681.9, the City Council, as the legislative body of the Agency, may enact an ordinance to extend by one year the time limit on the effectiveness of the redevelopment plan and the time limit for payment of indebtedness and receipt of property taxes under the redevelopment plan, each and respectively; and WHEREAS, SIB 1045 further provides that such ordinance may be adopted without compliance with the normal procedures for redevelopment plan amendments; and WHEREAS,the City Council desires to adopt this ordinance to amend and extend certain time limitations of the Amended and Restated Plan, as more particularly set forth below,in accordance with Section 33333.6, as amended by SB 1045; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000 et seq.)("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment; and NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRING DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The current time limit on the effectiveness of the Amended and Restated Redevelopment Plan for each of the Constituent Areas is hereby extended byone year as follows: From To Central Business District 07/11/2013 07/11/2014 South Palm Canyon 11/30/2023 11/30/2024 Ramon-Bogie 11/30/2023 11/30/2024 Oasis 07/10/2024 07/10/2025 North Palm Canyon 09/19/2024 09/19/2025 Highland-Gateway 11/20/2024 11/20/2025 Project No. 9 12/29/2028 12/29/2029 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect to the Redevelopment Plan at any time during which the Redevelopment Plan is effective. SECTION 2. The current time limit on paying indebtedness or the receipt of tax increment pursuant to the Amended and Restated Redevelopment Plan and California Community Redevelopment Law for each of the Constituent Areas is hereby extended by one year as follows: From To Central Business District 07/11/2023 07/11/2024 South Palm Canyon 11/30/2033 11/30/2034 Ramon-Bogie 11/30/2033 11/30/2034 Oasis 07/10/2034 07/10/2035 North Palm Canyon 09/19/2034 09/19/2035 Highland-Gateway 11/20/2034 11/20/2035 Project No. 9 12/29/2038 12/29/2039 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect thereto during such extended period. SECTION 3. Except with respect to the amendments set forth herein, the Amended and Restated Redevelopment Plan,as amended herein, is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15062. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30) days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS, CALIFORNIA EXTENDING THE TIME LIMITS FOR THE EFFECTIVENESS OF THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; EXTENDING THE TIME LIMIT FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF TAX INCREMENT UNDER THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency") is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Tahquitz-Andreas Project, Baristo-Farrell Project and Canyon Project(collectively, the "Constituent Areas")were amended by the Agency's legislative body,the City Council of the City of Palm Springs("City Council") by Ordinance 1583 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan")for Merged Redevelopment Project No. 2 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1624 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes time limits on the effectiveness of the Amended and Restated Plan and time limits on the period for payment of indebtedness and receipt of property taxes under the Amended and Restated Plan for each of the Constituent Areas; and WHEREAS, by and through Senate Bill 1045, enrolled on August 19,2003 and chaptered on September 2,2003("SB 1046%)CRL Section 33333.6 was amended to provide that as to redevelopment plans originally adopted before January 1, 1994, and when such redevelopment agency is required to make a payment to the Educational Revenue Augmentation Fund in fiscal year 2003-2004 pursuant to CRL 33681.9, the City Council, as the legislative body of the Agency, may enact an ordinance to extend by one year the time limit on the effectiveness of the redevelopment plan and the time limit for payment of indebtedness and receipt of property taxes under the redevelopment plan, each and respectively; and WHEREAS, SB 1045 further provides that such ordinance may be adopted without compliance with the normal procedures for redevelopment plan amendments; and WHEREAS,the City Council desires to adopt this ordinance to amend and extend certain time limitations of the Amended and Restated Plan, as more particularly set forth below, in accordance with Section 33333.6, as amended by SB 1045; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000 et seq.) ("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment; and NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRING DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The current time limit on the effectiveness of the Amended and Restated Redevelopment Plan for each of the Constituent Areas is hereby extended by one year as follows: From To Tahquitz-Andreas 07/19/2023 07/19/2024 Baristo-Farrell 05/07/2026 05/07/2027 Canyon 07/19/2031 07/19/2032 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect to the Amended and Restated Redevelopment Plan at any time during which the Redevelopment Plan is effective. SECTION 2. The current time limit on paying indebtedness or the receipt of tax increment pursuant to the Amended and Restated Redevelopment Plan and California Community Redevelopment Law for each of the Constituent Areas is hereby extended by one year as follows: From To Tahquitz-Andreas 07/19/2033 07/19/2034 Baristo-Farrell 05/07/2036 05/07/2037 Canyon 07/19/2041 07/19/2042 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect thereto during such extended period. SECTION 3. Except with respect to the amendments set forth herein,the Amended and Restated Redevelopment Plan,as amended herein, is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15062. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30) days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS,ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Central Business District, the South Palm Canyon Project, the Ramon-Bogie Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, and Project Area No. 9 (collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council') by Ordinance 1584 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan") for Merged Redevelopment Project No. 1 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1623 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes deadlines for incurring indebtedness for each of the Constituent Areas as adopted previously by Ordinances of the City Council on December 21, 1994, which among other actions, added certain provisions and limitations to the Redevelopment Plan as required by CRL Section 33333.6,that, among such limitations, set the following deadlines after which the Agency may not incur debt in conjunction with implementation of the Redevelopment Plan for the Project: Deadline Ordinance No. Central Business District 01/01/2004 1497 South Palm Canyon 01101/2004. 1494 Ramon-Bogie 01/01/2004. 1490 Oasis 07/10/2004. 1495 North Palm Canyon 09/19/2004 1498 Highland-Gateway 11/20/2004 1491 Project No. 9 12/29/2008 1496 WHEREAS, CRL Section 33333.6(e)(2) was amended by the California legislature in 2001, effective January 1, 2002, to provide that as to redevelopment plans originally adopted pre-January 1, 1994 the legislative body of an agency(City Council) may enact an ordinance eliminating the deadline on incurring indebtedness formerly required by CRL Section 33333.6, and to further provide that such ordinance may be adopted without �f f S1� compliance with CRL Section 33354.6 or Article 12 of the CRL, except that the redevelopment agency must begin making certain payments of portions of the Agency's tax increment to affected taxing entities required by CRL Section 33607.7 commencing from the date the applicable redevelopment plan reaches the previously existing deadline to incur debt; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000, et seq.)("CEQA")pursuant to CEQA Guidelines Section 15378(b)(4) (California Code of Regulations Section 15378(b)(4)) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. NOW THEREFORE, the City Council of the City of Palm Springs hereby ordains as follows: SECTION 1. The time limits to incur debt set forth in the Amended and Restated Redevelopment Plan and the implementation thereof is hereby eliminated. SECTION 2. The Community Redevelopment Agency is hereby authorized to incur indebtedness and any other obligations with respect to the Amended and Restated Redevelopment Plan in accordance with all remaining provisions of such Plan at anytime during which the Plan is effective. SECTION 3. Except with respect to the amendment set forth herein, the Amended and Restated Redevelopment Plan is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized and directed to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15062. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS,ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO.2; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Tahquitz-Andreas Project, Baristo-Farrell Project, and Canyon Project(collectively, the"Constituent Areas")were amended by the Agency's legislative body,the City Council of the City of Palm Springs("City Council") by Ordinance 1583 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan")for Merged Redevelopment Project No. 2 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1624 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes deadlines for incurring indebtedness for each of the Constituent Areas as adopted previously by Ordinances of the City Council on December 21, 1994, which among other actions, added certain provisions and limitations to the Redevelopment Plan as required by CRL Section 33333.6,that, among such limitations, set the following deadlines after which the Agency may not incur debt in conjunction with implementation of the Redevelopment Plan for the Project: Deadline Ordinance No. Tahqu itz-Andreas 01/01/2004 1489 Baristo-Farrell 01/01/2004. 1493 Canyon 01/01/2004. 1492 WHEREAS, CRL Section 33333.6(e)(2) was amended by the California legislature in 2001, effective January 1, 2002, to provide that as to redevelopment plans originally adopted pre-January 1, 1994 the legislative body of an agency(City Council) may enact an ordinance eliminating the deadline on incurring indebtedness formerly required by CRL Section 33333.6, and to further provide that such ordinance may be adopted without compliance with CRL Section 33354.6 or Article 12 of the CRL, except that the redevelopment agency must begin making certain payments of portions of the Agency's tax increment to affected taxing entities required by CRL Section 33607.7 commencing from the date the applicable redevelopment plan reaches the previously existing deadline to incur debt; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000, et seq.)("CEQA")pursuant to CEQA Guidelines Section 15378(b)(4) (California Code of Regulations Section 15378(b)(4)) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. NOW THEREFORE, the City Council of the City of Palm Springs hereby ordains as follows: SECTION 1. The time limits to incur debt set forth in the Amended and Restated Redevelopment Plan and the implementation thereof is hereby eliminated. SECTION 2. The Community Redevelopment Agency is hereby authorized to incur indebtedness and any other obligations with respect to the Amended and Restated Redevelopment Plan in accordance with all remaining provisions of such Plan at anytime during which the Plan is effective. SECTION 3. Except with respect to the amendment set forth herein, the Amended and Restated Redevelopment Plan is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized and directed to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15062. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30) days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 12004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS, CALIFORNIA EXTENDING THE TIME LIMITS FOR THE EFFECTIVENESS OF THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; EXTENDING THE TIME LIMIT FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF TAX INCREMENT UNDER THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency") is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Tahquitz-Andreas Project, Baristo-Farrell Project and Canyon Project (collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1583 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan") for Merged Redevelopment Project No. 2 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1624 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes time limits on the effectiveness of the Amended and Restated Plan and time limits on the period for payment of indebtedness and receipt of property taxes under the Amended and Restated Plan for each of the Constituent Areas; and WHEREAS, by and through Senate Bill 1045, enrolled on August 19,2003 and chaptered on September 2, 2003 ("SB 1046%)CRL Section 33333.6 was amended to provide that as to redevelopment plans originally adopted before January 1, 1994, and when such redevelopment agency is required to make a payment to the Educational Revenue Augmentation Fund in fiscal year 2003-2004 pursuant to CRL 33681.9, the City Council, as the legislative body of the Agency, may enact an ordinance to extend by one year the time limit on the effectiveness of the redevelopment plan and the time limit for payment of indebtedness and receipt of property taxes under the redevelopment plan, each and respectively; and WHEREAS, SB 1045 further provides that such ordinance may be adopted without compliance with the normal procedures for redevelopment plan amendments; and WHEREAS,the City Council desires to adopt this ordinance to amend and extend certain time limitations of the Amended and Restated Plan, as more particularly set forth below, in accordance with Section 33333.6, as amended by SB 1045; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000 et seq.) ("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment; and NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRING DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The current time limit on the effectiveness of the Amended and Restated Redevelopment Plan for each of the Constituent Areas is hereby extended by one year as follows: From To Tahquitz-Andreas 07/19/2023 07/19/2024 Baristo-Farrell 05/07/2026 05/07/2027 Canyon 07/19/2031 07/19/2032 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect to the Amended and Restated Redevelopment Plan at any time during which the Redevelopment Plan is effective. SECTION 2. The current time limit on paying indebtedness or the receipt of tax increment pursuant to the Amended and Restated Redevelopment Plan and California Community Redevelopment Lawfor each of the Constituent Areas is hereby extended by one year as follows: From To Tahquitz-Andreas 07/19/2033 07/19/2034 Baristo-Farrell 05/07/2036 05/07/2037 Canyon 07/19/2041 07/19/2042 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect thereto during such extended period. SECTION 3. Except with respect to the amendments set forth herein,the Amended and Restated Redevelopment Plan,as amended herein, is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15062. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 , 2004. AYES: NOES: ABSENT: ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS,ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Central Business District, the South Palm Canyon Project, the Ramon-Bogie Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, and Project Area No. 9 (collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1584 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan") for Merged Redevelopment Project No. 1 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1623 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes deadlines for incurring indebtedness for each of the Constituent Areas as adopted previously by Ordinances of the City Council on December 21, 1994, which among other actions, added certain provisions and limitations to the Redevelopment Plan as required by CRL Section 33333.6,that, among such limitations, set the following deadlines after which the Agency may not incur debt in conjunction with implementation of the Redevelopment Plan for the Project: Deadline Ordinance No. Central Business District 01/01/2004 1497 South Palm Canyon 01/01/2004. 1494 Ramon-Bogie 01/01/2004. 1490 Oasis 07/10/2004. 1495 North Palm Canyon 09/19/2004 1498 Highland-Gateway 11/20/2004 1491 Project No. 9 12/29/2008 1496 WHEREAS, CRL Section 33333.6(e)(2) was amended by the California legislature in 2001, effective January 1, 2002, to provide that as to redevelopment plans originally adopted pre-January 1, 1994 the legislative body of an agency(City Council) may enact an ordinance eliminating the deadline on incurring indebtedness formerly required by CRL Section 33333.6, and to further provide that such ordinance may be adopted without compliance with CRL Section 33354.6 or Article 12 of the CRL, except that the redevelopment agency must begin making certain payments of portions of the Agency's tax increment to affected taxing entities required by CRL Section 33607.7 commencing from the date the applicable redevelopment plan reaches the previously existing deadline to incur debt; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000, et seq.)("CEQA')pursuant to CEQA Guidelines Section 15378(b)(4) (California Code of Regulations Section 15378(b)(4)) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. NOW THEREFORE, the City Council of the City of Palm Springs hereby ordains as follows: SECTION 1. The time limits to incur debt set forth in the Amended and Restated Redevelopment Plan and the implementation thereof is hereby eliminated. SECTION 2. The Community Redevelopment Agency is hereby authorized to incur indebtedness and any other obligations with respect to the Amended and Restated Redevelopment Plan in accordance with all remaining provisions of such Plan at anytime during which the Plan is effective. SECTION 3. Except with respect to the amendment set forth herein, the Amended and Restated Redevelopment Plan is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized and directed to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15062. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED & APPROVED ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS,ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency") is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Tahquitz-Andreas Project, Baristo-Farrell Project, and Canyon Project(collectively, the"Constituent Areas")were amended by the Agency's legislative body,the City Council of the City of Palm Springs("City Council") by Ordinance 1583 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan")for Merged Redevelopment Project No. 2 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1624 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes deadlines for incurring indebtedness for each of the Constituent Areas as adopted previously by Ordinances of the City Council on December 21, 1994, which among other actions, added certain provisions and limitations to the Redevelopment Plan as required by CRL Section 33333.6, that, among such limitations, set the following deadlines after which the Agency may not incur debt in conjunction with implementation of the Redevelopment Plan for the Project: Deadline Ordinance No. Tahquitz-Andreas 01/01/2004 1489 Baristo-Farrell 01/01/2004. 1493 Canyon 01/01/2004. 1492 WHEREAS, CRL Section 33333.6(e)(2) was amended by the California legislature in 2001, effective January 1, 2002, to provide that as to redevelopment plans originally adopted pre-January 1, 1994 the legislative body of an agency(City Council) may enact an ordinance eliminating the deadline on incurring indebtedness formerly required by CRL Section 33333.6, and to further provide that such ordinance may be adopted without compliance with CRL Section 33354.6 or Article 12 of the CRL, except that the redevelopment agency must begin making certain payments of portions of the Agency's tax increment to affected taxing entities required by CRL Section 33607.7 commencing from the date the applicable redevelopment plan reaches the previously existing deadline to incur debt; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000, etseq.)("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) (California Code of Regulations Section 15378(b)(4)) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. NOW THEREFORE, the City Council of the City of Palm Springs hereby ordains as follows: SECTION 1. The time limits to incur debt set forth in the Amended and Restated Redevelopment Plan and the implementation thereof is hereby eliminated. SECTION 2. The Community Redevelopment Agency is hereby authorized to incur indebtedness and any other obligations with respect to the Amended and Restated Redevelopment Plan in accordance with all remaining provisions of such Plan at anytime during which the Plan is effective. SECTION 3. Except with respect to the amendment set forth herein, the Amended and Restated Redevelopment Plan is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized and directed to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15062. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30) days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS, CALIFORNIA EXTENDING THE TIME LIMITS FOR THE EFFECTIVENESS OF THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; EXTENDING THE TIME LIMIT FOR PAYMENT OF INDEBTEDNESS AND RECEIPT OF TAX INCREMENT UNDER THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency") is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Tahquitz-Andreas Project, Baristo-Farrell Project and Canyon Project(collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs("City Council") by Ordinance 1583 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan")for Merged Redevelopment Project No. 2 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1624 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes time limits on the effectiveness of the Amended and Restated Plan and time limits on the period for payment of indebtedness and receipt of property taxes under the Amended and Restated Plan for each of the Constituent Areas; and WHEREAS, by and through Senate Bill 1045, enrolled on August 19,2003 and chaptered on September 2,2003("SB 1046%)CRL Section 33333.6 was amended to provide that as to redevelopment plans originally adopted before January 1, 1994, and when such redevelopment agency is required to make a payment to the Educational Revenue Augmentation Fund in fiscal year 2003-2004 pursuant to CRL 33681.9, the City Council, as the legislative body of the Agency, may enact an ordinance to extend by one year the time limit on the effectiveness of the redevelopment plan and the time limit for payment of indebtedness and receipt of property taxes under the redevelopment plan, each and respectively; and WHEREAS, SB 1045 further provides that such ordinance may be adopted without compliance with the normal procedures for redevelopment plan amendments; and WHEREAS,the City Council desires to adopt this ordinance to amend and extend certain time limitations of the Amended and Restated Plan, as more particularly set forth below, in accordance with Section 33333.6, as amended by SB 1045; and 1) V WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000 et seq.)("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment; and NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM SPRING DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The current time limit on the effectiveness of the Amended and Restated Redevelopment Plan for each of the Constituent Areas is hereby extended by one year as follows: From To Tahquitz-Andreas 07/19/2023 07/19/2024 Baristo-Farrell 05/07/2026 05/07/2027 Canyon 07/19/2031 07/19/2032 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect to the Amended and Restated Redevelopment Plan at any time during which the Redevelopment Plan is effective. SECTION 2. The current time limit on paying indebtedness or the receipt of tax increment pursuant to the Amended and Restated Redevelopment Plan and California Community Redevelopment Lawfor each of the Constituent Areas is hereby extended by one year as follows: From To Tahquitz-Andreas 07/19/2033 07/19/2034 Baristo-Farrell 05/07/2036 05/07/2037 Canyon 07/19/2041 07/19/2042 and the Community Redevelopment Agency of the City of Palm Springs is hereby authorized to act with respect thereto during such extended period. SECTION 3. Except with respect to the amendments set forth herein,the Amended and Restated Redevelopment Plan,as amended herein, is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15094. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS,ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 1; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Central Business District, the South Palm Canyon Project, the Ramon-Bogie Project, the Oasis Project, the North Palm Canyon Project, the Highland-Gateway Project, and Project Area No. 9 (collectively, the "Constituent Areas")were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council") by Ordinance 1584 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan (`Redevelopment Plan") for Merged Redevelopment Project No. 1 (the `Project'); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1623 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes deadlines for incurring indebtedness for each of the Constituent Areas as adopted previously by Ordinances of the City Council on December 21, 1994, which among other actions, added certain provisions and limitations to the Redevelopment Plan as required by CRL Section 33333.6, that, among such limitations, set the following deadlines after which the Agency may not incur debt in conjunction with implementation of the Redevelopment Plan for the Project: Deadline Ordinance No. Central Business District 01/01/2004 1497 South Palm Canyon 01/01/2004. 1494 Ramon-Bogie 01/01/2004. 1490 Oasis 07/10/2004. 1495 North Palm Canyon 09/19/2004 1498 Highland-Gateway 11/20/2004 1491 Project No. 9 12/29/2008 1496 WHEREAS, CRL Section 33333.6(e)(2) was amended by the California legislature in 2001, effective January 1, 2002, to provide that as to redevelopment plans originally 1� adopted pre-January 1, 1994 the legislative body of an agency(City Council) may enact an ordinance eliminating the deadline on incurring indebtedness formerly required by CRL Section 33333.6, and to further provide that such ordinance may be adopted without compliance with CRL Section 33354.6 or Article 12 of the CRL, except that the redevelopment agency must begin making certain payments of portions of the Agency's tax increment to affected taxing entities required by CRL Section 33607.7 commencing from the date the applicable redevelopment plan reaches the previously existing deadline to incur debt; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000, et seq.)("CEQX)pursuant to CEQA Guidelines Section 15378(b)(4) (California Code of Regulations Section 15378(b)(4)) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. NOW THEREFORE, the City Council of the City of Palm Springs hereby ordains as follows: SECTION 1. The time limits to incur debt set forth in the Amended and Restated Redevelopment Plan and the implementation thereof is hereby eliminated. SECTION 2. The Community Redevelopment Agency is hereby authorized to incur indebtedness and any other obligations with respect to the Amended and Restated Redevelopment Plan in accordance with all remaining provisions of such Plan at anytime during which the Plan is effective. SECTION 3. Except with respect to the amendment set forth herein, the Amended and Restated Redevelopment Plan is and shall remain unchanged and in full force and effect in accordance with its terms. SECTION 4. The City Clerk is hereby authorized and directed to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15094. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED &APPROVED OJI ORDINANCE NO. AN ORDINANCE OF THE CITY OF PALM SPRINGS ELIMINATING THE TIME LIMIT ON ESTABLISHMENT OF LOANS,ADVANCES AND INDEBTEDNESS WITH RESPECT TO THE MERGED REDEVELOPMENT PLAN FOR MERGED REDEVELOPMENT PROJECT NO. 2; AND MAKING OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, the Community Redevelopment Agency of the City of Palm Springs ("Agency') is a community redevelopment agency duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the California Community Redevelopment Law (Part 1 of Division 24, commencing with Section 33000, of the Health and Safety Code of the State of California) ("CRL"); and WHEREAS, the Redevelopment Plans for the Tahquitz-Andreas Project, Baristo-Farrell Project, and Canyon Project(collectively, the"Constituent Areas')were amended by the Agency's legislative body, the City Council of the City of Palm Springs ("City Council")by Ordinance 1583 adopted on May 31, 2000 resulting in the Merged Redevelopment Plan ("Redevelopment Plan")for Merged Redevelopment Project No. 2 (the "Project"); and WHEREAS,the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan which was amended by Ordinance No. 1624 on February 19, 2003 which, among other actions, resulted in an Amended and Restated Redevelopment Plan ("Amended and Restated Plan") for the Project which includes deadlines for incurring indebtedness for each of the Constituent Areas as adopted previously by Ordinances of the City Council on December 21, 1994, which among other actions, added certain provisions and limitations to the Redevelopment Plan as required by CRL Section 33333.6, that, among such limitations, set the following deadlines after which the Agency may not incur debt in conjunction with implementation of the Redevelopment Plan for the Project: Deadline Ordinance No. Tahquitz-Andreas 01/01/2004 1489 Baristo-Farrell 01/01/2004. 1493 Canyon 01/01/2004. 1492 WHEREAS, CRL Section 33333.6(e)(2) was amended by the California legislature in 2001, effective January 1, 2002, to provide that as to redevelopment plans originally adopted pre-January 1, 1994 the legislative body of an agency(City Council) may enact an ordinance eliminating the deadline on incurring indebtedness formerly required by CRL Section 33333.6, and to further provide that such ordinance may be adopted without compliance with CRL Section 33354.6 or Article 12 of the CRL, except that the redevelopment agency must begin making certain payments of portions of the Agency's tax increment to affected taxing entities required by CRL Section 33607.7 commencing ko V from the date the applicable redevelopment plan reaches the previously existing deadline to incur debt; and WHEREAS,the enactment of this Ordinance is exempt from the California Environmental Quality Act(Public Resources Code Section 21000, etseq.)("CEQA') pursuantto CEQA Guidelines Section 15378(b)(4) (California Code of Regulations Section 15378(b)(4)) because it is a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. NOW THEREFORE, the City Council of the City of Palm Springs hereby ordains as follows: SECTION 1. The time limits to incur debt set forth in the Amended and Restated Redevelopment Plan and the implementation thereof is hereby eliminated. SECTION 2. The Community Redevelopment Agency is hereby authorized to incur indebtedness and any other obligations with respect to the Amended and Restated Redevelopment Plan in accordance with all remaining provisions of such Plan at anytime during which the Plan is effective. SECTION 3. Except with respect to the amendment set forth herein, the Amended and Restated Redevelopment Plan is and shall remain unchanged and in full force and effect in accordance with its terms, SECTION 4. The City Clerk is hereby authorized and directed to file a Notice of Exemption with the County of Riverside pursuant to CEQA Guidelines Section 15094. SECTION 5. This Ordinance shall go into effect and be in full force and operation from and after thirty(30)days after its final passage and adoption. The City Clerk shall certify to the passage and adoption of this Ordinance and shall 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 2004. AYES: NOES: ABSENT: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA By: City Clerk Mayor REVIEWED & APPROVED