HomeMy WebLinkAbout00073C - COUNTY CRA CITY REIMB TAX INCREMENT PASSTHRU • Riverside County, CRA & City
Co-op agr re Tax Increment
Revenue-S. Palm Canyon PA#3
AGR #73, original 2-1-84
1 COOPERATION AGREEMENT Res 198, 2-1-84
BETWEEN THE RIVERSIDE COUNTY FLOOD RCFCD PA3 - Pass-thru Tax
2 AND WATER CONSERVATION DISTR AGREEMENT #2029
THE CITY OF PALM SPRING R14933, 12-21-83
3 AND CRA Agr #73
PALM SPRINGS REDEVELOPMENT AG
4
5 THIS AGREEMENT is entered into on the day of
6 1984 , by and between the RIVERSIDE COUNTY FLOOD
7 CONTROL AND WATER CONSERVATION DISTRICT, a public agency
8 ( "District") , and the PALM SPRINGS REDEVELOPMENT AGENCY, a public
9 body ( "Agency") , and THE CITY OF PALM SPRINGS, a municipal corpora-
10 tion ( "City") .
11 WHEREAS, City and Agency have adopted the Redevelopment Plan
12 for the South 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 property
17 taxes levied on its behalf by Riverside County' s Assessor on all
18 of the property located in the proposed project area in fiscal
19 year 1983-84 ;
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, differences
26 or disputes, both real and potential, arising against Agency and
1/31/84 27 City in relation to the Project and the Plan;
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28
GERALD J.GEERLINGS
COUNTY COUNSEL
SUITE 300
3535-1OTH STREET
RIVERSIDE,CALIFORNIA /1/
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
4 of 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
8 of the City. This Agreement is a compromise and settlement of
9 claims and liabilities alleged by District in relationship to
10 the Project.
11 NOW, THEREFORE, in consideration of the foregoing and the
12 mutual promises and covenants contained herein, the parties
13 hereto 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 Agency.
21 (d) "Project" and "Project Area" shall mean the specific
22 geographical area and redevelopment activities as set forth in
23 the Redevelopment Plan for the South Palm Springs Canyon Redevelop-
24 ment Project.
25 (e) "Project Improvements" shall mean the specific improve-
26 ments as set forth in the "Revised Master Drainage Plan for the
27 Palm Springs Area" and identified in Exhibit A which is attached
28 hereto and by this reference is incorporated herein.
GERALD J.GEERLINGS
COUNTY COUNSEL
SUITE 300
3535-LOTH STREET
RIVERSIDE,CALIFORNIA /2/
1 (f) "Tax Increment" shall mean that portion of property
2 taxes resulting from the increase and assessed evaluation in the
3 Project Area over the base year assessed evaluations in the
4 Project Area, as defined in Section 33670 of the Health and Safety
5 Code. "Tax Increment" shall refer to those taxes raised as a
6 result of the 1% levy allowed under ARTICLE XIIIA of the Constitu-
7 tion of the State of California. "Tax Increment, " as referred
8 to in this Agreement, shall not include those taxes levied in
9 excess of the 1% general levy.
10 (g) "District Share" shall mean that portion of "Tax
11 Increment" as computed by the County Auditor-Controller in
12 accordance with the applicable provisions of the Revenue and
13 Taxation Code of the State of California.
14 Section 2 . Distribution of Tax Increment
15 Tax Increment shall be allocated by Riverside County Auditor-
16 Controller as follows , subject to the limits of Section 33675 (d)
17 of the Health and Safety Code :
18 (a) For the initial six (6) years following the date of
19 adoption of the Redevelopment Plan the Agency is to receive
20 one hundred percent (100%) of the District ' s Share.
21 (b) Commencing in the seventh year following the date of
22 adoption of the Plan, the Agency is to receive fifty percent (50%)
23 of the District' s Share, the balance is to be paid to the
24 District.
25 (c) In no event is the District ' s Share of accumulated
26 Tax Increment to be distributed to the Agency to exceed the
27 actual cost for the engineering, administration and construction
28 of the Project Improvements. The District will prepare annually
GERALD J.GEERLINGS
COUNTY COUNSEL
SUITE300
3535-10TH STREET
RIVERSIDE,CALIFORNIA /3/
1 a statement that will set forth the projected and actual cost
2 for engineering, administration and construction of the Project
3 Improvements that will be distributed to both the Agency and
4 the Auditor-Controller.
5 (d) District may augment the Agency' s funds for completion
6 of the Project Improvements with Zone 6 ad valorem taxes, Zone
7 6 benefit assessment revenues, developer fees or other sources
8 that may be made available to construct the Project Improvements .
9 Should District make such an augmentation, an equivalent amount
10 will be credited toward to the District ' s Share of accumulated
11 Tax Increment that is to be distributed to the Agency.
12 (e) District is to receive one hundred percent (1000) of
13 its share when any of the following occurs :
14 1. The expiration or termination of the
15 Redevelopment Plan;
16 2 . Agency has received an amount equivalent
17 to that set forth in subsection (c) above.
18 The determination of the amounts allocable pursuant to this Section
19 2 shall accommodate the following three principles , which shall
20 control in the event of any conflict between the principles and
21 any other provision of this Agreement. The principles are as
22 follows : First, the parties intend that the calculation of the
23 Agency' s share of increments assumes that the provisions of
24 Section 33334 . 2 will be applied only to those funds ultimately
25 received by the Agency, and not those passed-through by the
26 Agency to the District or any other public agency. In the event
27 that the set-aside provision is found to be applicable to all
28 Tax Increments generated by the Project, the District and the
GERALD J.GEERLINGS
COUNTY COUNSEL
SUITE 300
3535-10TH STREET
RIVERSIDE,CALIFORNIA
/4/
1 Agency agree to adopt appropriate amendments to this Agreement
2 so that the Agency will receive as its share of increments an
3 amount calculated as if the set-aside were not applicable to
4 passed-through funds . Second, under no circumstances is the
5 District to receive for any year (by virtue of this Agreement)
6 payments in excess of the amount of property tax revenues which
7 would have been received by the District if all the property tax
8 revenues from the Project Area had been allocated to all the
g affected taxing agencies without regard to any division of
10 taxes pursuant to Health and Safety Code Section 33670 . Third,
11 the District shall not be allocated funds where the effect would
12 be to violate the District ' s expenditure limitation under
13 ARTICLE XIII .B of the California Constitution.
14 Section 3 . Scheduling of Project Improvements
15 (a) By the conclusion of the tenth year following the date
16 of the adoption of the Redevelopment Plan, the Agency is to have
17 expended 50% of the amount stated in the annual statement
18 prepared by the District pursuant to Section 2 (c) of this Agree-
19 ment toward the engineering, administration, and construction
20 of the Project Improvements.
21 (b) By the conclusion of the twentieth year following the
22 date of the adoption of the Redevelopment Plan, the Agency is
23 to have expended 75% of the amount stated in the annual statement
24 prepared by the District pursuant to Section 2 (c) of this Agree-
25 ment toward the engineering, administration, and construction
26 of the Project Improvements.
27 (c) By the conclusion of the thirtieth year following the
28 date of the adoption of the Redevelopment Plan, the Agency will
GERALD J.GEERLINGS
COUNTY COUNSEL
SUITE 300
3535-IOTH STREET
RIVERSIDE,CALIFORNIA /5/
1 have caused the Project Improvements to be fully completed.
2 Section 4 . Construction of Project Improvements
3 The District shall supervise and approve the design and
4 construction of the Project Improvements and, upon completion
5 of said Project Improvements, shall assume responsibility for
6 maintenance of the Project Improvements.
7 Section 5 . Allocation of Special Taxes
8 District shall be allocated, in addition to portions of
9 taxes allocated pursuant to Subdivision (a) of Section 33670 of
10 the Health and Safety Code and Section 2 of the Agreement, all
11 or any portion of the tax revenue allocated to Agency pursuant
12 to Subdivision (b) of Section 33670 attributable to increases
13 in the rate of tax imposed for the benefit of District which
14 levy occurs after the tax year in which the ordinance adopting
15 the Redevelopment Plan becomes effective.
16 Section 6. Modification and Termination
17 If, after this Agreement is executed, State enacts laws or
18 policies in conflict with all or any portion of this Agreement,
19 Agency and District may mutually agree to excuse performance
20 of all or any portion of this Agreement by Agency or District.
21 In the event any section or portion of this Agreement shall be
22 held, found or determined to be unenforceable or invalLd for
23 any reason whatsoever, the remaining provisions shall remain in
24 effect, and the parties thereto shall take further actions as
25 may be reasonably necessary and available to them to effectuate
26 the intent of the parties as to all provisions set forth in this
27 Agreement.
28
GERALD J.GEERIJNGS
COUNTY COUNSEL
SUITE 300
3535-1OTH STREET
RIVERSIDE,CALIFORNIA /6/
1 Section 7 . Effective Date and Term
2 This Agreement shall become effective upon the date of
3 execution of this Agreement and shall remain in effect during
4 the term of the Redevelopment Plan.
5 Section 8 . Entire Agreement
6 This Agreement constitutes the entire, complete and final
7 expression of agreements between the parties.
8 IN WITNESS WHEREOF, the parties have executed this Agreement
9 on the day and year first written above.
10 RIVERSIDE COUNTY FLOOD CONTROL
AND WATER CONSERVATION DISTRICT
11 ATTEST: a
1,
12
By
13 Cle`rk o the Boa d hairman, Board of Supervisors
14 CITY OF PALM SPRINGS
ATTEST:
15
16 wee !- P• By / ✓Y' 1 /L�
R. KING
17 :Ew cl st:r: CITY MANAGER
18 PALM SPRINGS REDEVELOPMENT AGENCY
ATTEST:
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APPROVED AS TO FORM
28
GERALD J.GEERLINGS
COUNTY COUNSEL (,'!t AL1CI'llB
SUITE3E0 y Y
3535-10TH STREET �/�
RIVERSIDE.CALIFORNIA
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