HomeMy WebLinkAboutA208C - RIVERSIDE County - TAX INCREMENT PASSTHRU PA9 County City CRA
• Pass-Thru Agr Amend 1
AGREEMENT #208C
RI194, 10-16-02
AMENDMENT TO AGREEMENT FOR COOPERATION
THIS AMENDMENT TO AGREEMENT ("Amendment") is entered into on the
day of f�'''�: �t�n- i` 2002 by and between the COUNTY OF RIVERSIDE (the
"County") and the CITY OF PALM SPRINGS, (the "City") and the PALM SPRINGS
REDEVELOPMENT AGENCY (the "Agency").
RECITALS
A. On April 18, 1989, County, City and Agency entered into that certain Agreement for
Cooperation("Agreement") to provide that the County shall receive a portion of the tax
revenues generated within the Redevelopment Project No. 9 Area to alleviate any
financial burden or detriment caused to the County by the implementation of the
Redevelopment Plans.
B. The parties have a disagreement regarding the methodology used in the annual
calculation of tax revenues to be retained by the County under the terms of the
Agreement. Based upon the County's interpretation of the methodology to be used, the
revenues retained by the County for the period beginning with the effective date of the
Agreement through fiscal year 2001-02 are approximately$349,000 greater than under
the City's interpretation for the same period.
C. The parties wish to resolve this disagreement by amending the Agreement to clarify the
methodology to be used in future calculations of the allocation of tax revenues and
allowing the County to retain those tax revenues previously reserved by the County and
thereby alleviate all ambiguities related to future allocations.
COVENANTS
NOW, THEREFORE, in consideration of the mutual promises and covenants set forth
herein, the parties hereto now amend the following sections of the Agreement as follows:
Section 2.01. Allocation of Tax Revenues shall be amended as follows:
1) Effective July 1, 2002 (i.e. the start of Fiscal Year 2002-03), the word "cumulative"
shall be changed to "annual" in each instance in which it appears in Sub-Sections
2.01.a., 2.Ol.b., and 2.Ol.c.
2) The following paragraph shall be inserted immediately following Sub-Section
2.Ol.d.:
For example, in Fiscal Year 2002-03 or any subsequent Fiscal Year, subject to the
repayment provisions and limitation provided in subsequent paragraphs of this
Section 2.01, if the annual Total Tax Increment were $3,200,000 and the County's
general tax levy were 27.62 the appropriate calculation and payment to the County
would be:
$1,000,000 X 0.2762 X 10%= $ 27,620
$1,000,000 X 0.2762 X 25% _ $ 69,050
$1,000,OOOX0.2762X 50% = $138,100
$ 200,000 X 0.2762 X 100% = 55,240
$290,010
Section 2.04. Agreement on Prior Payments to County shall be added to read as follows:
The parties hereto agree that the attached Schedule A accurately reflects prior payments
received by the County from the Agency under the terms of this Agreement beginning
with Fiscal Year 1990-91 and continuing through Fiscal Year 2001-02 and furthermore,
that the County will be keeping the funds it has already reserved in accordance with this
Schedule.
THIS AMENDMENT fully resolves the previous disagreement between the parties
regarding the methodology used in the annual calculation of tax revenues to be retained by the
County and the amounts previously reserved by the County. While the City and Agency do not
agree with the County's prior methodology, the City and Agency are willing to release any claim
for reimbursement in exchange for the County's approval of this Amendment and future
application of the provisions hereof.
FULL FORCE AND EFFECT. Except as specifically provided in this Amendment, all
terms and conditions in the Agreement shall remain unmodified and in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed the Amendment the day and
year first written above.
COUNTY OF RIVERSIDE
ATTEST By: �& l&A&
\�,, CSairman Board of Supervisors
APPROVED AS TO FORM:
By: Lw A•�. n<,e,9.�,�
County Counsel
CITY OF PALM SPRINGS, a municipal
corporation
By: r r'_✓
4 David a Ready
City Manager
City Clerk �(/J��
APPROVED AS TO FORM: l
By: ,' ' c�,b
City Attorney
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS,
CALIFORNIA
ST l By:
Chairman
Assistant Secretary
APPROVED AS TO FORM:
'� ��' ,w�J� - %Jwwii"w'391fy IYbwV.
,ram•.
By: N11 AGENCY BY RE& DM. fV /z!7 /1v—G% 72
AgeAeytounsel 14 a E
[END OF SIGNATURES]
SCHEDULE A
PALM SPRINGS REDEVELOPMENT PROJECT NO. 9
Cumulative Pass Thru Cumulative
Annual Total Total Tax County's Pass County Share Payment to Share Retained
Fiscal Year Tax Increment Increment Thru Percent Of Increment County By Agency
1990-91 445,284 445,284 10% 120,747 12,075 108.672
1991-92 444,482 889,766 10% 118,728 12,053 215,347
1992-93 485,438 1,375,204 10%-25% 129,684 28,081 316,950
1993-94 427,046 1,802,250 25% 114,102 28,525 402,527
1994-95 262,656 2,064,906 25%-50% 70,177 22,112 450,592
1995-96 192,927 2,257,833 50% 51,564 25,782 476,374
1996-97 158,289 2,416,122 50% 42,291 21,145 497,520
1997-98 217,211 2,633,333 50% 58,033 29,017 526,536
1998-99 134,487 2,767,820 50% 35,914 17,957 544,493
1999-00 275,238 3,043,058 50%-100% 73,516 42,528 575,481
2000-01 389,523 3,432,581 100% 104,046 104,046 575,481
2001-02 553,080 3,985,661 100% 147,766 147,766 575,481
• County of Riverside PA9 Pass-
thru re tax increment
AGREEMENT #208 (CITY A#2714)
R612 and R16778 5-17-89
AGREEMENT FOR COOPERATION ----
Between
THE COUNTY OF RIVERSIDE
and
THE CITY OF PALM SPRINGS
and
THE PALM SPRINGS REDEVELOPMENT AGENCY
THIS AGREEMENT is entered into on the day of APR 1 8 " by and
between the County of Riverside (the "County ') and th�of Palm Springs
(the "City") and the Palm Springs Redevelopment Agency (the "Agency") .
RECITALS
WHEREAS, the City and Agency propose to undertake certain redevelopment
activities in the Redevelopment Project No. 9 Area pursuant to the Community
Redevelopment Law, in the interests of health, safety, and general welfare of
the people of the City of Palm Springs.
WHEREAS, the Community Redevelopment Law authorized redevelopment agencies
to provide that any taxing agency with territory located within a project
area, other than the community which has adopted the project, may receive an
amount of money which in the Agency's determination is appropriate to
alleviate any financial burden or detriment caused to any taxing agency by a
redevelopment project;
WHEREAS, the parties wish to enter into a cooperative agreement to provide
mutual aid and assistance in the redevelopment of the Redevelopment Project
No. 9 Area and to alleviate any financial burden or detriment caused to the
County by such redevelopment activities; and
WHEREAS, in considering this Agreement, the Agency and City have found and
determined that it would be appropriate to alleviate any financial burden or
detriment caused to the County by the redevelopment activities by providing
that the County shall receive a portion of the tax revenues generated within
the Redevelopment Project No. 9 Area:
COVENANTS
NOW, THEREFORE, in consideration of the mutual promises and covenants set
forth herein, the parties agree as follows:
APR i B I9M
.20
ARTICLE I. =FINITIONS
Section 1.01. Definitions. The words and terms in this Agreement, unless a
different meaning clear Ty appears from the context, shall have the meanings
set forth as follows:
a. "Agency" shall mean the Palm Springs Redevelopment Agency, a redevelopment
agency.
b. "Base Year" shall mean the tax year in which the assessment roll of the
County was last equalized prior to the effective date of the Ordinance
adopting the Redevelopment Plan for the Redevelopment Project No. 9 Area,
as defined in Section 33670 of the Health and Safety Code.
c. "Bonds" shall mean any bonds, notes, interim certificates, debentures or
other obligations issued by the Agency, pursuant to Article V of Part 1 of
Division 24 of the Health and Safety Code (commencing with Section 33640) .
d. "City" shall mean the City of Palm Springs, a municipal corporation.
e. "City Council" shall mean the City Council of City.
f. "County" shall mean the County of Riverside, a political subdivision of
the State of California.
g. "County Tax Revenues" shall mean the portion of total tax increment
revenues allocated to the County for general fund purposes which amount is
determined by multiplying the County's general tax levy which is currently
27.12 by the amount of total tax increment revenue.
h. "Community Redevelopment Law" shall mean Part 1 of Division 24 of the
Health and Safety Code (commencing with Section 33000).
i. "Fiscal Year" shall mean the period from July 1 to and including the
following June 30.
j. "Indebtedness" shall mean any principal of and interest on loans, moneys
advanced to, or other indebtedness (whether funded, refunded, assumed or
otherwise) incurred by the Agency to finance or refinance, in whole or in
part, any redevelopment projects identified in the Redevelopment Plan.
k. "Ordinance" shall mean the Ordinance enacted by the City Council adopting
the Redevelopment Plan for the Redevelopment Project No. 9 Area.
1 . "Redevelopment Project No. 9 Area" shall mean an area within the City
which is a blighted area, the redevelopment of which is necessary to
effectuate the public purposes specified in the Redevelopment Plan, as
shown on a map on file in the office of the Secretary of the Agency.
m. "Redevelopment Plan" shall mean the plan entitled "Redevelopment Plan,
Redevelopment Project No. 9" prepared by the Agency and adopted by the
City for the Redevelopment Project No. 9 Area, pursuant to Sections 33330
et, seq. of the Health and Safety Code.
n. "Redevelopment Projects" shall mean those projects identified in the
Redevelopment Plan or Plans.
o. "Redevelopment Activities" shall mean redevelopment set forth in the
Redevelopment Plan or Plans which meets the criteria set forth in Section
33678(b) of the Health and Safety Code.
p. "Total Tax Increment Revenue" shall mean those taxes generated from
increases in the assessed valuation of property within the Redevelopment
Project Area No. 9 Area from and after the effective date of the
Ordinance, pursuant to Section 33670 of the Health and Safety Code, prior
to fulfilling legally binding obligations to alleviate any financial
burden or detriment caused to any taxing agency and prior to allocating a
portion of total tax increment revenue to the Low and Moderate Income
Housing Fund required by Sections 33334.2 and 33334.3 of the California
Health and Safety Code.
ARTICLE II. ALLOCATION OF TAX REVENUES
Section 2.01. Allocation of Tax Revenues. From the total tax increment
revenues generated from the e eve opment Project No. 9 Area each year, the
County shall receive a percentage of the County Tax Revenues in the amounts
specified as follows:
a. Ten percent ( 10%) of the County Tax Revenue for the first one million
dollars of cumulative Total Tax Increment.
b. Twenty-five percent (25%) of the County Tax Revenue for the second million
dollars of cumulative Total Tax Increment ($1,000,001-$2,000,000).
c. Fifty percent (50%) of the County Tax Revenue for the third million
dollars of cumulative Total Tax Increment ($2,000,001-$3,000,000).
d. One hundred percent (100%) of the County Tax Revenue thereafter.
Any remaining portion of County property tax revenue not allocated to the
County by paragraphs (a) through (d) above shall be allocated to the Agency;
provided, that Agency shall repay to County said remaining portion of County
property tax revenue allocated to the Agency once the total annual increment
reaches three million dollars ($3,000,000) . The Agency repayment to County by
this paragraph shall be in seven even annual installments and shall begin in
the third year following the year when the annual increment reaches three
million dollars ($3,000,000).
The parties agree that there shall be a limitation upon the total County
Tax Revenues which shall be divided and allocated to the Agency under this
Agreement. The County Tax Revenues shall not be divided and shall not be
allocated to the Agency in excess of $4,200,000. Upon the Agency receiving
$4,200,000 of County Tax Revenues, the County shall thereinafter receive all
County Tax Revenues and a repayment over seven year (in seven even annual
installments) of the County's taxes deferred. Such repayments will start in
the third year after the total tax allocation of $4,200,000 has been reached.
Section 2.02. Commencement of Pa nut. The obligation of the Agency that the
County shall rece ve paym—e s under thlS Agreement shall commence in the first
fiscal year in which tax revenues are allocated to the Agency.
Section 2.03. Alleviation of Financial Burden. The parties agree that the
amount received by the County pursuant to this Agreement is appropriate to
alleviate any financial burden or detriment caused to the County by the
implementation of the Redevelopment Plans.
ARTICLE III. COSTS AND EXPENSES
Section 3.01 . Operation and Maintenance Costs. The Agency shall not use tax
revenues allocated to the Agency for payment-of operation and/or maintenance
costs incident to any Redevelopment Project.
•
ARTICLE IV. GENERAL PROVISIONS
Section 4.01. Mutual Assistance. The County will assist Agency in the
planning, financing, acqu s t on, construction, and operation of redevelopment
activities undertaken by Agency, in accordance with applicable State and
Federal law.
Section 4.02. Effective Date and Term. This Agreement shall become effective
upon the date of execution o this Agreement and shall remain in effect during
the term of the Redevelopment Plan.
Section 4.03. Severabilit Each paragraph and provision of this Agreement
is severable fray eac of er provision, and if any provision or part thereof
is declared invalid, the remaining provision shall nevertheless remain in full
force and effect.
Section 4.04. Modification. This Agreement shall not be modified except by
written agreement 5 f�ties.
Section 4.05. Entire A reement. This Agreement constitutes the entire,
complete and fine expression of the agreement of the parties.
•
IN WITNESS THEREOF, the parties have executed this Agreement on the day and
year first above-written.
COUNTY OF RIVERSIDE
e By:
ATTEST: y�1-'pq aiBoaril Ot npervisors
GERALD A. MALONEY, I
Clerk of the Board
PALM SPRINGS REDEVELOPMENT AGENCY
By:
hairman
ATTEST: R 9� ���'E�-3 �t t-L- CC) s'iii!U7 , AY KEIItV
hl,_; _)i'/7,
CITY OF PALM SPRINGS
e
By:
Norman R. King
City Manager
ATTEST:
AP �`TT"�"i_('3G nn°'.I€H
OL
1rQ 7/
�, i.ty�Clerk
�..� Cq"j i4��.OP536
1 1 IN'N11 W'NI Ilt'll 11['lll'I fl{'lls,[ Ill'li['tll Its,Mills 12111CLU`I its-ltl't(1'I tat I llt'oll'ill It
/ 1 111'1121 MINI I141" U111011; 1119111!'t lil'IS1Y11 it1't!1'11 S11111111'1 fll'itf'SSt'11N'I 141113I it
1 I NI'W't W'NI 611'10 SI1111l't IIs'lll'l Uf'lll'111 llI'fit'll led.$$(.oil'] UVItIVILt'1 lit'I 111'ff1'i[I 1[
1 1 "1'M/'t W'"[ Z11%; 111'itl's 11I'9611 ItP11L'111 lSI'ill'11 I(t'SIYIIPI 011"s,961'1 III I IIC61'611 it
1 1 Nt'Nl'l UI'NI 111'I6 SIl'IS11 tlt'11111 [ll'IS1,111 I11'0I116 1I1'"I'tii 911'111'etl'1 NI I Ilt'01'1111 11-11111J It
I 1 IN'1"'1 W'NI 11VIS llPlll'! III'ttt'i t"1/1'/11 f11'111'f 111'/11'IU 111'ISFUI'I IN"! 111'011'Itl 911-1101 If It
!U'Ut'i 1"'N1 U['{l Sls,ltl's 1"'tit't III'ill'NI ISCM(I's tU111Vtll (lf'l1V(li'I I t 1 tWItL'itl U-I144 11 It
1 1 f OV$ W'NI flt'1f tU'111's 131'9111 101N'Is 191119111 S11'I11'lll lil't11'0I 1/1'1 11!'Ift'1[I It-1111 1f It
t 1 Ill'UI'/ "1'NI as'II I11'fsl'1 IIS'!N'f IIS'111'fl Itl'llI'1 01'116'191 111Y11'I46 tie's I I C Oil'I(1 1116111 If it
1 1 Ili'lll'I W'Nl 111'It IiviN'1 Ill'M'1 111'111'il I111NI'l 1fS'tlf'111 Ill'111'1S1 In IIVIsI1911 11-1111 If If
0 1 IIS'1!!'1 W'NI suit IIS'Ul'l Ill'U1'l IICS1131 Its,lil'! 10'161'19f ltl'ils'ill 1101 "C111311 11-Oli " It
1 1 111'111'I W'NI 111'91 111'611'1 III'111'! 06I'115'11 N!'tl I'! ill'IIt'111 1tS'161'01 In I Ill'11l'111 0-11/t U "
IUf'llf) 1111111 11l still[ 111'91f'I 111119S'I 11VILI'U S11114.1 tSl'als,hi 0114ti Yll tli I 111'/il'Itl 11 slat If 11
11'I69 114'I10 fll'lll't Ill $Iris 11116111 Itl'lll'1 06,11I'I1 1f1'l11'S 1111111IS Itf'811'11I IN I 111'fi1'Itl SI till 1f It
Sil'si1'1 1111'"fl tif'llf'1 W'N1 /I11'I1 "I'olt'I so,Slt'1 fit,lit'IS Its'its'/ I he'05 1.0 Ili'oil,SO Zia / I I F lit'itI )I OIt of It
ItSIlit 1 II11111 11V its'I W'Ni I14111 I0s,1114 1ts'13911 CU'Ist'll tfl'siI'1 "t's11'iSl sll'lll-16 Ito UL'1t1'itl U-tllf N U
N94611 I{II'NSI 111'1(1'I W'lls 111'(t (ft't111 019'56111 14V Ili'I1 1111111 11f'lll'![1 1U'I111h tai'I 11 L,O 'i(I I1-I Iof 11 Is
1[o'IN'l 1111'Ilf) Ifs,Ito'I W'NI tlt'll [MI'IN'1 sii'W11 1161111/1 [ls,01111 I1('111'161 t it'19C I E S too I11'f11'1l1 11-4101Is I
111'lfi'f Illl'lit) 11111111 Novi 1(1'll NI'IN 111'"$ IIS'1ii'(1 1"'t[l't Iil'11Cbt 11 F IIS-Its tit 1 11 C lit'6(1 11-60t U at
11i'1U'/ 1 111'111 W'NI UI'II !ills" Nt'W IM"s,U 1"'ISI't /tl'tlt'S(t 11130'Stl In lit'I11111 N-IN[ U It
Ui'Ii1'1 1 tll'ill W"NI 111'/1 111'ill Ill'111 111'{(6'11 ISs,tll't IIl'S{['llt Ifl'111'111 bl I II1'l11*111 11-1441 If of
i"'I11'1 111'II9 111'I11 W'If f6116I f1111/ Ill'1" SU'til'[I Itl'I[1's I11'1t1'flt 1N'1f1'1U on I 111'fil'611 ta-INI U 11
111'SII'1 111'I11 11011 W'Is If1'II UI'lll 111'tol 111'[il'N /01I61 I11'611I'IS[ fsl'ltl'1i( tat I 111'fll'it1 Is-seit U 11
III41111t 11t'111 111'Ilt W'" !11'11 UI'/1/ 101IN Iti'itl'tl I111111'1 111'11S'I11 S/i'tit'll[ 101 Itl'1tt111 lt-IN1 If 11
"I'ltl'S IN'1" tl/'tit W'N IL!'li SU't/S "fist Ut'LN'tl (U'til't Us Its /11 !If'ISf'15l Ni I 1WRL'Ut IPINt 11 11
111/111/ /Ii'NI "Pita W'if sells] Itl'llf 111'It! NI'!If'11 ilt'1"1 111Y11'UI lll'111'Itt lol'I lIC11/'I11 11.1NI U it
111'lll'1 111'lll 110'111 W'SS lis'1 Is1'111 W'lil 111'tls'll 41I'11{'l fN'lll'I11 111'06,51t 10's 11/'U/'f(I t1-INf 11 11
111'Ifl't filial 111'111 W'U 0131 U11fl 119'10111 all'IN'1 911'I161 I1911s,lS1 ISCL"'IS[ W's 111'I1C111 It-1Ni 11 tl
Us*%if,1 1111111. 111'11 Us'U title W'Sit I"'IIt 1ls,llt'1 "111111 111111'Itl UVISVI" 114115 111'11L'itl "-sill If it
NI'[tt'1 "III" W'" W'It Ill'/ U11it "flit W'Ns,l ttl'iit'I (If'.111'itl 111'tlt'S!t W'I lll'f11'11l 11-Isis 1f II
Nf'tll'I 1N'"1 111'11 W'f[ Ili's "list 1111441 111'"f's 611411611 11111S'111 ISi'If1'tft UI'I 111'f[1111 If-1141 If 11
W'fNll 1111111 W'U N1'll still 1N'Iis 111'IN NI'lll'1 Nf'iN 111'It1'N U1,116'111 IN11 111 A Ill'it1 /6-111114 1
11111191 IIIINI til'U W'll I"1 liS'Nt itl'111 Ito'III't 1/1'"1 IIY11i'tl UI'tol'111 sell! 111'!il'i[I it sits U 1
MI'1(1 "CNI 11441111 W'/I tail( I9I'111 111'NI 11t'I1s,t "flit NfYlt'It Ils,lN'slt 1f11'1 111'UL'iti U-Hit it 1
1611111 111'1t1 stilts W'll all'[ I111561 f1I'Iss IN'!ll'1 111'115 1611111/1 I11'SIs'NI Us I 111'It1'f11 111611 11 f
ill'SU f11't11 W'tl Willi [fill Millis 111'111 Ill'III'1 1611111 111'IS1'li "1't1i'N! W'f IIL'Itl'Itl (l-till If 1
itl'sll "I'll lolls W'ol $$111 111'16 U116 111114I al'Ilt 811111'!1 twise'lll Sol'! 11CIL111 U-lltl ll 1
"slat [tilts W'1 W'ol sift 6111 [It'll stl'Ut W9ot I0'445'19 111'f11911 Ns'1 IICfU'III It sill if t
IIs,l$ 11('ll NI'1 W'll Its "I'll I11'11 11011 sI{'III IU1ll'll Iti'Iil'Iii too 111'11l'itl 11-f"1 Is I
till" IN'N 1114 W'11 fit 1"'11 stilts Itl'll 1t1'ls t1/'(I['1 III.111'IN IIl-I IIL'IZI'oil 11-161114 1
............ " --------- ------------ ------------ ............ ----- ------ ............ ----------- ------...-.. -------- ------------ .------.---. ......
lilt —tits III) loll Ill) toll 11) 111 Ill III Its D) Its Ill ill
/sosryat osq ( let's Us'It lit'li 1sNosat 1t 1W`Jm1 ltasual asps I +s P1 A 'I i941
Now Noll us" Nstt "g1 oiofl NNI sit WIiN ill Wfiaf "Pi NsN"1 11••i5 1.1641ol Iuul
Ituq It" flssat I15os3 Ip"a 111"2 lit"] L111NU fossils Poway polls,Jsl Is Pu is] ...1 m1
l
SIM _ _
ACMINUTES OF THE BOARD OF SU& RVISORS
TY OF RIVERSIDE, STATE OW-ALIFORNIA
IV
3 .20
On motion of Supervisor Dunlap, seconded by Supervisor Larson
and duly carried by unanimous vote, IT WAS ORDERED that the
Administrative Office ' s recommendation for approval of the Agreemet
for Cooperation between the County of Riverside, the Redevelopment
Agency of the City of Palm Springs and the City of Palm Springs fo.
Project No. 9 is approved.
Roll Call resulted as follows:
Ayes: Dunlap, Larson, Abraham and Younglove
Noes: None
Absent: Ceniceros
------------
When the attached documents are
fully executed, please forward
the copy marked "Clerks" to
the office of the Clerk of the
Board of Supervisors.
Thank You. MAKIE ".27 0`0
I hereby certify that the foregoing is a full, true and correct copy of an order made and entered on
April 18 , 19R9 of Supervisors Minutes.
WITNESS my hand and the seal of the Board of Supervisors
Dated: April 18 , 1989
Gerald A. Maloney, Clerk of the Boary bf Supervisors, in and
(seal) for the County of Riverside, StatF (C fifornia.
By: l Deputy
AGENDA NO.
3 . 20
xc: A.O. , CO.CO. , Auditor
FORM I I D 16,831