HomeMy WebLinkAbout00099C - PA2B6 REIMBURSEMENT TAX INCREMENT PASSTHRU iverside County, CRA & City
0 o-op agr re Tax Increment
Revenue-NPC Redev PA#6
1 COOPERATION AGREEM AGR #99, 9-20-84 (original )
BET19EEN THE RIVERSIDE COUNTY Res 252, 9-19-84
2 AND WATER CONSERVATION Riverside County, CRA & City
THE CITY OF PALM SPF Co-op agr re Tax Increment
3 AND Revenue-NPC Redev PA#6
PALM SPRINGS REDEVELOPME AGR #2133, 9-20-84
(original )
4 Res 15244, 9-19-84
5 THIS AGREEMENT is entered into on the day of
6 � �� "-r >>, -', , 1984 , by and between the RIVERSIDE COUNTY
7 FLOOD CONTROL AND WATER CONSERVATION DISTRICT, a public agency
8 ( "District" ) , and the PALM SPRINGS REDEVELOPMENT AGENCY, a public
9 body ( "Agency" ) , and THE CITY OF PALM SPRINGS, a municipal. corn
10 poration ( "City" ) .
11 WHEREAS, City and Agency have adopted the Redevelopment Plan
12 for the North Palm Canyon Redevelopment Project (the "Project" )
13 pursuant to the California Community Redevelopment Law (Health
14 and Safety Code Section 33000 , et seq. ) ;
15 WHEREAS , District is an affected taxing entity which has
16 general purpose and special bonded indebtedness ad valorem prop-
17 erty taxes levied on its behalf by Riverside County ' s Assessor on
18 all of the property located in the proposed project area in Fis-
19 cal Year 1984-85 ;
20 WHEREAS, District has submitted objections to the Project ' s
21 financial impact and has determined that the Project could cause
22 a financial burden or detriment;
23 WHEREAS , Agency and City desire to resolve and settle once
24 and for all times , all present , past and future controversies ,
25 claims , causes of action or purported causes of action , differen-
26 ces or disputes , both real and potential , arising against Agency
27 and City in relation to the Project and the Plan ;
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1 WHEREAS, Agency has found and determined that it would be
2 appropriate to alleviate any financial burden or detriment caused
3 to District by the Project by authorizing payment to District of
4 certain monies; and
5 WHEREAS, District , City and Agency, in consideration of the
6 mutual undertaking , desire to settle their differences and
7 cooperatively provide for the redevelopment of certain areas of
8 the City. This Agreement is a compromise and settlement of
9 claims and liabilities alleged by District in relationship to the
10 Project.
11 NOW, THEREFORE, in consideration of the foregoing and the
12 mutual promises and covenants contained herein , the parties here-
13 to agree as follows:
14 Section 1 . Definition
15 (a) "District" shall mean the Riverside County Flood Control
16 and Water Conservation District , a political subdivision of the
17 State of California .
18 (b) "City" shall mean the City of Palm Springs , a municipal
19 corporation .
20 (c) "Agency" shall mean the Palm Springs Redevelopment
21 Agency.
22 (d) "Project" and "Project Area" shall mean the specific
23 geographical area and redevelopment activities as set forth in
24 the Redevelopment Plan for the North Palm Canyon Redevelopment
25 Project .
26 (e) "Project Improvements" shall mean the specific improve-
27 ments as set forth in the "Revised Master Drainage Plan for the
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1 Palm Springs Area" and identified in Exhibit A which is attached
2 hereto and by this reference is incorporated herein.
3 ( f) "Tax Increment" shall mean that portion of property tax-
4 es resulting from the increase in assessed evaluation in the
5 Project Area over the base year assessed evaluations in the Proj--
6 ect Area, as defined in Section 33670 of the Health and Safety
7 Code. "Tax Increment" shall refer to those taxes raised as a
8 result of the 1% levy allowed under ARTICLE XIIIA of the Con-
9 stitution of the State of California. "Tax Increment , " as re-
10 ferred to in this Agreement, shall not include those taxes levied
11 in excess of the 1% general levy.
12 (g) "District Share" shall mean that portion of "Tax Incre-
13 ment" as computed by the County Auditor-Controller in accordance
14 with the applicable provisions of the Revenue and Taxation Code
15 of the State of California .
16 Section 2 . Distribution of Tax Increment
17 Tax Increment shall be allocated by Riverside County Auditor
18 Controller as follows , subject to the limits of Section 33675(d)
19 of the Health and Safety Code:
20 (a) For the initial six (6) years following the date of
21 adoption of the Redevelopment Plan the Agency is to receive one
22 hundred percent ( 100%) of the District ' s Share.
23 (b) Commencing in the seventh year following the date of
24 adoption of the Plan , the Agency is to receive fifty percent
25 (50%) of the District ' s Share, the balance is to be paid to the
26 District .
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1 (c) In no event is the District ' s Share of accumulated Tax
2 Increment to be distributed to the Agency to exceed the actual
3 cost for the engineering , administration and construction of the
4 Project Improvements. The District will prepare annually a
5 statement that will set forth the projected and actual cost for
6 engineering, administration and construction of the Project Im-
7 provements that will be distributed to both the Agency and the
8 Auditor-Controller .
9 (d) District may augment the Agency' s funds for completion
10 of the Project Improvements with Zone 6 ad valorem taxes , Zone 6
11 benefit assessment revenues , developer fees or other sources that
12 may be made available to construct the Project Improvements.
13 Should District make such an augmentation , an equivalent amount
14 will be credited toward to the District ' s Share of accumulated
15 Tax Increment that is to be distributed to the Agency.
16 1 (e) District is to receive one hundred percent ( 100%) of its
17 share when any of the following occurs:
18 1 . The expiration or termination of the Redevelopment
19 Plan;
20 2. Agency has received an amount equivalent to that set
21 forth in subsection (c) above,
22 The determination of the amounts allocable pursuant to this Sec-
23 tion 2 shall accommodate the following three principles, which
24 shall control in the event of any conflict between the principles
25 and any other provision of this Agreement . The principles are as
26 follows: First , the parties intend that the calculation of the
27
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1 Agency' s share of increments assumes that the provisions of Sec-
t tion 33334 .2 will be applied only to those funds ultimately
3 received by the Agency, and not those passed-through by the Agen-
4 cy to the District or any other public agency. In the event that
5 the set-aside provision is found to be applicable to all Tax In-
6 crements generated by the Project , the District and the Agency
7 agree to adopt appropriate amendments to this Agreement so that
8 the Agency will receive as its share of increments an amount cal-
9 culated as if the set-aside were not applicable to passed-through
10 funds . Second , under no circumstances is the District to receive
11 for any year (by virtue of this Agreement) payments in excess of
12 the amount of property tax revenues which would have been
13 received by the District if all the property tax revenues from
14 the Project Area had been allocated to all the affected taxing
15 agencies without regard to any division of taxes pursuant to
16 Health and Safety Code Section 33670 . Third , the District shall
17 not be allocated funds where the effect would be to violate the
18 District ' s expenditure limitation under ARTICLE XIII .B of the
19 California Constitution .
20 Section 3 . Construction of Project Improvements
21 The District shall supervise and approve the design and con-
22 struction of the Project Improvements and , upon completion of
23 said Project Improvements , shall assume responsibility for, main-
24 tenance of the Project Improvements .
25 Section 4 . Allocation of Special Taxes
26 District shall be allocated , in addition to portions of taxes
27 allocated pursuant to Subdivision (a) of Section 33670 of the
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1 Health and Safety Code and Section 2 of the Agreement, all or any
2 portion of the tax revenue allocated to Agency pursuant to Sub-
3 division (b) of Section 33670 attributable to increases in the
4 rate of tax imposed for the benefit of District which levy occurs
5 after the tax year in which the ordinance adopting the Redevelop-
6 ment Plan becomes effective.
7 Section 5 . Modification and Termination
8 If, after this Agreement is executed , State enacts laws or
9 policies in conflict with all or any portion of this Agreement,
10 Agency and District may mutually agree to excuse performance of
11 all or any portion of this Agreement by Agency or District. In
12 the event any section or portion of this Agreement shall be held ,
13 found or determined to be unenforceable or invalid for any reason
14 whatsoever , the remaining provisions shall remain in effect , and
15 the parties thereto shall take further actions as may be reason-
16 ably necessary and available to them to effectuate the intent of
17 the parties as to all provisions set forth in this Agreement.
18 Section 6 . Effective Date and Term
19 This Agreement shall become effective upon the date of execu-
20 tion of this Agreement and shall remain in effect during the term
21 of the Redevelopment Plan .
22 Section 7 . Entire Agreement
23 This Agreement constitutes the entire, complete and final
24 expression of agreements between the parties .
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I IN WITNESS WHEREOF, the parties have executed this Agreement
2 on the day and year first written above.
3 RIVERSIDE COUNTY FLOOD CONTROL
4 AND WATER CONSERVATION DISTRICT t
5
ATTEST:
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10 Clerk of the Board w Chairman, Board of Supervisors
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12
CITY OF PALM SPRINGS
13 �
14 ATTEST:
BY 1141(fr"„ /
i6 IA UDITH SUMICH NORMAN R. KING
City Clerk ' City Manager
17
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18 PALM SPRINGS REDEVELOPMENT AGENCY
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19 ATTEST:
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20 .-
21 By
�.,7 Asst. Secretary Chairman
22
23 APPRO ,EUr, 1S TO FORM
24 API F OVE D BY THE CITY COUNCIL
"City Attorney BY RES. NO. &-,� V q �c7
25
26 Dat
27 APPROVpD BY TW CQMMWW'f SAM&AP4140T BY RIM N&
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