HomeMy WebLinkAbout00077C - DWA REIMBURSEMENT TAX INCREMENT PASSTHRU �� �SERT WAT,�R AGEN_ CY
A PUBLIC AGENCY
1200 SOUTH SOME ROAD, P.O.DRAWER 1707 • PALM SPRINGS, CALIFORNIA 9=3-1707
TPI PPMANF JAJQl 37.,Ug7i
WALTER H.HUTCHINSON Desert Water Agency - tax PAUL G.PAYNE
Pn.i"nt increment pass-thru agreement G.n..1M.n.W
F.GILLAR ROM,JR Pro] Area ��] BEST.BEST f KRIEGER
Wcs PnMINnt .. Gmml Cam.a
ROBERTE.HIRD AGREEMENT #77, orig 2-2-84 KRIEGER AND STEWART
S.cniny Tr...Um Res 193-B, 2-1-84 Conwtttnp Enpm..n
EOUN A.SPTTZER S.R.SHARP AND COMPAI
Gnlb.0 PUbhC ACC.Yn=
WALTER E.COLGLAZIER -November-3,-19b3- -- AU011M
Mr. Norm King, Executive Director
P.S. Redevelopment Agency
P. 0. Box 1786
Palm Springs, Ca. 92263
r
Re: Palm 5 rip s Redevelopment Aeency Pro'ects : (South Palm Canyon, Ramon-Bogie,
North Palm Canyon, Oasis, Highland-Gateway
Dear Mr. King:
Based on earlier Fiscal Review Committee meetings, it was this Agency's
understanding that the "Future Tax Increments" loss to us was limited to the
1% tax increment.
The question was raised at the October 21, 1983 meeting that perhaps our
tax loss could extend into the tax revenues that this Agency depends upon to
pay our contractual obligations to the State of California for the State Water
Project.
We must insist that the redevelopment agency funds be limited to remain
within the l% tax increment.
We understand that this limitation is agreeable to the Palm Springs Re-
development Agency.
We request that you sign your concurrence to this limitation as it applies
to Desert L7ater Agency.
Very truly yours,
DEST' WATER AG
Paul G. Payne
General Manager
PGP/lj w
The City of Palm Springs Redevelopment Agency agrees to the above st ed 1' itation.
cc: Mr. Ken Feenstra Signed: -
P.S. Redevelopment Agency
Mr. Boward D. Stephen- , Auditor Title: Chairman
Chairman, Fiscal Review Committee 2-84
County of Riverside Dzy ••r 2-2- ...._
4080 Lemon Street gg Y Yr
�� 4I1GEINIZ [Ai r 6S:,f. IJ
Piverside, Ca. 9_001 Y
ASSURED WATER FOR THE FUTURE OF PALM SPRINGS.CATHEEOORnALnCIT'Y AND DESERT HOT SPRINGS