HomeMy WebLinkAbout02352 - PSUSD PA8 TAX INCREMENT PASSTHRU P.S. Unified School District
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AGREEMENT #2352 (CRA #162)
R16012 & CRA R445, 9-17-86
AMENDMENT TO THE AMENDMENT #1
AGREEMENT FOR COOPERATION BETWEEN
THE PALM SPRINGS UNIFIED SCHOOL DISTRICT
THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS AND
THE CITY OF PALM SPRINGS
3 . 15 The per unit developer-paid school impact fee shall be
reduced for residential developments within the Project Area to reflect,
on a dollar for dollar basis , the funds . provided by this agreement for
the benefit of the district. The per unit developer-paid school impact
fee shall be reduced outside the Project Area for residential develop-
ments to reflect, on a dollar for two dollars basis , the funds pro-
vided by this agreement for the benefit of the District. These calcu-
lations shall be made based upon the revenue estimates for each fiscal
year derived for the equalized tax roles available in August of same
fiscal year. Fee reductions shall become effective January 1st of same
fiscal year. Reductions shall occur in the first year revenues are
provided by this agreement for the benefit of the District.
Exhibit "B" attached is a sample of the calculation referenced
in 3 . 15 and is made part of this agreement for interpretive purpose.
3 . 16 The agency agrees to issue redevelopment bonds, certi-
ficates of participation or other financial obligations to assist the
District for the construction, reconstruction or rehabilitation of the
Palm Springs High School.
The extent of such bonded indebtedness will be determined by the
amount of tax increment provided by the Baristo Farrell and other agency
projects to which the district is entitled. Additional funding for this
purpose may be allocated from other district resources including loans
from the developer fee fund.
EXHIBIT B
PALM SPRINGS UNIFIED SCHOOL DISTRICT
AND THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS
EXAMPLES OF DEVELOPER FEE REDUCTION CALCULATIONS
1 . Within Project Area
Given;
a) Amount distributed to District (From Exhibit "A" ) $720 . 00
b) Amount distributed to District per unit ($720 : 80*) $ 9 . 00
c) Resultant fee ($636 - $9) $627 . 00
* Projected average annual residential construction in Project Area.
2 . Outside Project Area
Given;
a) Amount distributed to District (from Exhibit "A") $720 . 00
b) Amount distributed to District per unit ($720 : 500**) $ 1 . 44
c) Resultant fee ($636 - $1 . 44) $634 . 56
** Projected average annual residential construction outside of
Project Area.
COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS
DATED CHAIRMAN
ATTEST :
ASSISTANT, \� A'PPRO°rn BY" FFdE COMMUNBTY RFDJ Nr,
SECRETARY /- ^'�- t.vErNrl E 'a ?.[S.
-
PALM SPRINGS UNIFIED SCHOOL DISTRICT
DATED PRESIDENT
ATTEST :
CLERF&� r c�
CITY OF PALM SPRINGS
DATED /G CITY MANAGER
ATTEST :
CITY f� APPROVED BY THE CITY COUNCIL
�41PROVC ;L�
O FORM
sL1aYDd (o
• P.S. Unified School District
passthru agr for tx incr rev
from Baristo-Farrell , PA8
AGREEMENT #2352 (CRA #162)
R16012 & CRA R445, 9-17-86
AGREEMENT FOR COOPERATION BETE
THE PALM SPRINGS UNIFIED SCHOOL DISTRICT,
THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS AND
THE CITY OF PALM SPRINGS
1 . PARTIES AND DATE
1 . 1 THIS AGREEMENT ENTERED INTO IN THE CITY OF PALM SPRINGS ,
COUNTY OF RIVERSIDE , STATE OF CALIFORNIA , THIS 18TH DAY OF SEPTEMBER,
1986 BETWEEN THE PALM SPRINGS UNIFIED SCHOOL DISTRICT, A PUBLIC AGENCY
(DISTRICT) , THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM
SPRINGS , A PUBLIC BODY ( AGENCY ) AND THE CITY OF PALM SPRINGS (CITY ) .
2 . RECITALS
2 . 1 AGENCY IS PROPOSING TO UNDERTAKE A PROGRAM UNDER THE
CALIFORNIA COMMUNITY REDEVELOPMENT LAW ( HEALTH AND SAFETY CODE SECTION
33000 ET SEQ) KNOWN AS THE BARISTO—FARRELL REDEVELOPMENT PROJECT
( PROJECT) FOR THE REDEVELOPMENT, DEVELOPMENT, REPLANNING AND REDESIGN
OF BLIGHTED AREAS WITHIN THE CITY WHICH ARE STAGNANT, IMPROPERLY
UTILIZED , AND UNPRODUCTIVE BECAUSE OF DEFECTIVE OR INADEQUATE STREET
LAYOUT, FAULTY LOT LAYOUT IN RELATION TO SIZE , SHAPE , ACCESSIBILITY,
OR USEFULNESS , OR FOR OTHER CAUSES AND BECAUSE THE AREA REQUIRES
REPLANNING FOR RECLAMATION OR DEVELOPMENT IN THE INTEREST OF THE
GENERAL WELFARE BECAUSE OF VARIOUS REASONS .
2 . 2 THE DISTRICT IS IN RECEIPT OF ORDINANCE NO . 1264
ADOPTED BY THE CITY COUNCIL OF THE CITY OF PALM SPRINGS , CALIFORNIA,
ON JUNE 6 , 1986 AUTHORIZING THE REDEVELOPMENT OF AN AREA WITHIN THE
TERRITORIAL LIMITS OF THE CITY OF PALM SPRINGS BY THE AGENCY .
2 . 3 THE AGENCY HAS FOUND AND DECLARED THAT THERE EXISTS IN
THE CITY BLIGHT AREAS WHICH ARE CHARACTERIZED BY ONE OR MORE OF THOSE
CONDITIONS SET FORTH IN SECTIONS 33031 AND 33032, CAUSING A REDUCTION
OF , OR LACK OF, PROPER UTILIZATION OF THE AREA TO SUCH AN EXTENT THAT
IT CONSTITUTES A SERIOUS PHYSICAL , SOCIAL, AND ECONOMIC BURDEN ON THE
COMMUNITY WHICH CANNOT REASONABLY BE EXPECTED TO BE REVERSED OR
ALLEVIATED BY PRIVATE ENTERPRISE ACTING ALONE .
2 . 4 AS DEFINED IN SECTION 33353 . 2 , 'THE DISTRICT IS AN
AFFECTED TAXING ENTITY WHICH HAD BONDED INDEBTEDNESS AND GENERAL
PURPOSE PROPERTY TAXES LEVIED ON ITS BEHALF BY THE COUNTY OF RIVERSIDE
ON ALL OF THE PROPERTY LOCATED IN THE PROPOSED REDEVELOPMENT PROJECT
AREA IN FISCAL YEAR 1985-1986 .
2 . 5 THE CALIFORNIA COMMUNITY REDEVELOPMENT LAW AUTHORIZED
REDEVELOPMENT AGENCIES TO PAY TO ANY TAXING AGENCY WITH TERRITORY
LOCATED WITHIN A PROJECT AREA OTHER THAN THE COMMUNITY WHICH HAS
ADOPTED THE PROJECT, ANY AMOUNTS OF MONEY WHICH IN THE AGENCY
DETERMINATION IS APPROPRIATE TO ALLEVIATE ANY FINANCIAL BURDEN OR
DETRIMENT CAUSED TO ANY TAXING AGENCY BY A REDEVELOPMENT PROJECT.
2 . 6 DISTRICT HAS SUBMITTED OBJECTIONS AND HAS SUBSTANTIATED
BY DATA AND INFORMATION SUBMITTED TO THE AGENCY THE EXTENT AND SCOPE
OF THE PROJECT' S FINANCIAL IMPACT ON THE DISTRICT.
2 .7 DISTRICT AND AGENCY WISH TO ENTER INTO A COOPERATIVE
AGREEMENT BETWEEN THEMSELVES TO PROVIDE MUTUAL AID AND ASSISTANCE IN
THE REDEVELOPMENT, DEVELOPMENT AND PHYSICAL IMPROVEMENTS OF CERTAIN
AREAS OF THE PROJECT AREA THROUGH THE CONSTRUCTION AND INSTALLATION OF
PUBLIC SCHOOL FACILITIES , BUILDINGS AND STRUCTURES OR OTHER
IMPROVEMENTS INCLUDING PLANNING AND ENGINEERING COSTS DIRECTLY RELATED
TO SUCH CONSTRUCTION AND INSTALLATION, HEREINAFTER COLLECTIVELY
REFERRED TO AS "PUBLIC SCHOOL FACILITIES" , AND AGENCY AND DISTRICT
HAVE A COMMON INTEREST IN AND WISH TO FACILITATE REDEVELOPMENT AND TO
PROVIDE FOR THE COOPERATION OF DISTRICT AND AGENCY IN CARRYING OUT THE
REDEVELOPMENT ACTIVITIES , GOALS AND OBJECTIVES SET FORTH IN THE
REDEVELOPMENT PLAN .
9 0
2 . 8 DISTRICT AND AGENCY RECOGNIZE THE NEED TO PROVIDE
ADEQUATE PUBLIC SCHOOL FACILITIES TO SERVE THE PROJECT OR THE
IMMEDIATE NEIGHBORHOOD IN WHICH THE PROJECT IS LOCATED IN ORDER TO
ASSIST IN ELIMINATING BLIGHTING CONDITIONS AND HAVE DETERMINED THAT
SUCH FACILITIES , BOTH IN AND OUT OF THE PROJECT AREA, ARE OF PRIMARY
BENEFIT TO THE PROJECT AREA OR THE IMMEDIATE NEIGHBORHOOD IN WHICH THE
PROJECT IS LOCATED AND THAT REDEVELOPMENT FINANCING IS THE ONLY MEANS
OF FINANCING ALL OR A PORTION OF THE REHABILITATION, CONSTRUCTION, AND
RECONSTRUCTION OF SUCH PUBLIC SCHOOL FACILITIES IN CONJUNCTION WITH
OTHER AVAILABLE DISTRICT FINANCING ,
2 . 9 AGENCY HAS FOUND AND DETERMINED THAT IT WOULD BE IN THE
BEST INTEREST OF THE AGENCY TO PARTICIPATE WITH THE DISTRICT BY
PLEDGING A PORTION OF ITS TAX INCREMENT REVENUE TO THE DISTRICT AS ,
PROVIDED IN SECTIONS 33401 AND 33445 TO BE USED FOR THE
REHABILITATION, CONSTRUCTION AND RECONSTRUCTION OF PUBLIC SCHOOL
FACILITIES AND BY OTHERWISE EXPANDING AND IMPROVING THE COMMUNITY ' S
PUBLIC SCHOOL FACILITIES .
2 . 10 IT IS THE INTENT AND DESIRE OF THE DISTRICT AND AGENCY
TO EXPEDITE AND FACILITATE THE IMPLEMENTATION OF ELIGIBLE PROJECTS BY
THE DISTRICT WHICH ARE INSIDE OR OUTSIDE THE BARISTO-FARRELL
REDEVELOPMENT PROJECT AND WHICH PRIMARILY BENEFIT SAID PROJECT AND THE
GOALS AND OBJECTIVES OF THE REDEVELOPMENT PLAN. TO THIS END AND IN
ACCORDANCE WITH ITS POLICIES , RULES , AND REGULATIONS , THE DISTRICT
WILL EXPEND THE REVENUES PAID TO IT PURSUANT TO THIS AGREEMENT FOR THE
EFFECTIVE IMPLEMENTATION OF THE REDEVELOPMENT PLAN, ITS GOALS AND
OBJECTIVES .
2 . 11 AGENCY AND DISTRICT, IN CONSIDERATION OF THESE MUTUAL
UNDERTAKINGS , DESIRE TO COOPERATIVELY PROVIDE FOR THE REDEVELOPMENT OF
CERTAIN AREAS OF THE CITY .
NOW THEREFORE IN CONSIDERATION OF THE FOREGOING AND THE MUTUAL
PROMISES AND COVENANTS CONTAINED HEREIN, THE PARTIES HERETO AGREE AS
FOLLOWS
3 . TERMS
3 . 1 FIFTY PERCENT ( 50% ) OF ALL TAXES ATTRIBUTABLE TO THAT
AREA WITHIN THE TERRITORIAL LIMITS OF THE DISTRICT RESULTING FROM AN
INCREASE IN THE ASSESSED VALUATION OF THE PROJECT AREA OVER THE BASE
YEAR WHICH WOULD HAVE OTHERWISE BEEN LEVIED UPON TAXABLE PROPERTY IN
THE PROJECT AREA BY OR FOR THE BENEFIT OF THE DISTRICT AND WHICH ARE
ALLOCATED TO AGENCY PURSUANT TO SECTION 33670 (b ) (TAX INCREMENT )
SHALL BE PAID BY AGENCY INTO A TRUST FUND TO BE ADMINISTERED FOR THE
EXCLUSIVE BENEFIT OF THE DISTRICT AND DESIGNATED AS THE "PALM SPRINGS
UNIFIED SCHOOL DISTRICT TRUST FUND" HEREINAFTER CALLED "FUND" .
PAYMENTS INTO THE FUND SHALL BE SUBJECT TO THE PROVISIONS OF SECTION
3 . 8 OF THIS AGREEMENT WHEREBY AN AMOUNT NOT TO EXCEED 20 % OF THE
DISTRICT FUND MAY BE USED BY THE AGENCY TO SATISFY THE REQUIREMENTS OF
HEALTH AND SAFETY CODE SECTION 33334 . 2 FOR LOW AND MODERATE INCOME
HOUSING .
EXHIBIT "A" ATTACHED IS A SAMPLE OF THE CALCULATION
REFERENCED IN 3 . 1 AND 3 . 8 AND IS MADE A PART OF THIS AGREEMENT FOR
INTERPRETIVE PURPOSES .
3 . 2 THE PROCEEDS OF THE "FUND" INCLUDING ACCRUED INTEREST
SHALL BE TO PAY THE PRINCIPAL OF AND INTEREST ON LOANS , MONEY ADVANCED
TO, OR INDEBTEDNESS, (WHETHER FUNDED , REFUNDED, ASSUMED OR OTHERWISE)
INCURRED BY DISTRICT TO FINANCE OR REFINANCE, IN WHOLE OR IN PART, THE
REHABILITATION, CONSTRUCTION OR RECONSTRUCTION OF NEW OR EXISTING
PUBLIC SCHOOL FACILITIES AND FOR ANY OTHER PURPOSE ENUMERATED IN
SECTION 3 . 3 . 1 . WHEN THE ANNUAL DEBT SERVICE FOR SUCH LOANS , ADVANCES
AND INTEREST THEREOF, HAVE BEEN PAID IN ANY ONE YEAR, ALL MONIES
THEREAFTER RECEIVED FROM TAXES IN THAT YEAR IN ACCORDANCE WITH SECTION
3 . 1 OR ANY LESSER PORTION THEREOF AGREED TO BY THE PARTIES ,
ATTRIBUTABLE TO DISTRICT, UPON THE TAXABLE PROPERTY WITHIN THAT
PORTION OF SUCH REDEVELOPMENT PROJECT INCLUDED WITHIN THE TERRITORIAL
LIMITS OF DISTRICT SHALL CONTINUE TO BE PAID TO "FUND" PURSUANT TO
THIS AGREEMENT.
3 . 3 DISTRICT SHALL ANNUALLY ADOPT A BUDGET AND A CAPITAL
IMPROVEMENT PROGRAM SETTING FORTH THE REHABILITATION, CONSTRUCTION,
RECONSTRUCTION OR OTHER ACTIVITIES BEING UNDERTAKEN. THE DISTRICT
SHALL SUBMIT ITS BUDGET PLAN TO THE AGENCY IN ACCORDANCE WITH THE
"CRITERIA FOR USE OF FUND" ENUMERATED IN SECTION 3 . 3 . 1 AND THE AGENCY
SHALL APPROVE OF THE BUDGET AS LONG AS THE BUDGET PLAN ADHERES TO THE
CRITERIA ESTABLISHED IN SECTION 3 . 3 . 1 AND IS IN CONFORMANCE WITH THE
REDEVELOPMENT PLAN. SUCH APPROVAL PROCESS SHALL INCLUDE FINDINGS THAT
THE BUDGET AND PROJECTS ARE IN CONFORMANCE WITH THE GOALS , OBJECTIVES
AND INTENT OF THE REDEVELOPMENT PLAN AND THIS AGREEMENT .
THE DISTRICT AGREES TO CONSTRUCT, INSIDE OR OUTSIDE THE
PROJECT AREA, FACILITIES NECESSARY TO HOUSE STUDENTS AT SUCH TIME AS
ENROLLMENT PROJECTIONS INDICATE THAT SUCH FACILITIES ARE NECESSARY AND
AT SUCH TIME AS BOND FUNDS OR OTHER FUNDING FOR SUCH CONSTRUCTION IS
PROVIDED BY PLEDGING TAX INCREMENT FOR PAYMENT OF BONDED OR OTHER
INDEBTEDNESS .
3 . 3 . 1 CRITERIA FOR USE OF FUND
THE PROCEEDS OF THE FUND SHALL BE UTILIZED FOR THE
FOLLOWING PURPOSES , OR AS HEREINAFTER MAY BE AGREED UPON BETWEEN THE
DISTRICT AND THE AGENCY:
1 . REHABILITATION, CONSTRUCTION AND/OR RECONSTRUCTION
OF :
A. PERMANENT OR TEMPORARY CLASSROOMS ,
B . GYMS , ATHLETIC OR RECREATIONAL FACILITIES ,
AND POOLS ,
C . LIBRARY, AUDITORIUM AND SCHOOL SITE
ADMINISTRATION FACILITIES ,
D . DISTRICT ADMINISTRATIVE OFFICE, MAINTENANCE AND
WAREHOUSING FACILITIES ,
s �
E. ON SITE PUBLIC IMPROVEMENTS SUCH AS SIDEWALKS
CROSSWALKS , LIGHTS , CURBS , GUTTERS AND STREETS ,
F . LANDSCAPING, IRRIGATION AND LIGHTING AND
G . OTHER ANCILLARY FACILITIES AND EQUIPMENT
APPURTENANT TO A SCHOOL OR DISTRICT FACILITY TO MAKE
SUCH
FACILITIES OPERABLE .
2 . ACQUISITION OF PROPERTY FOR PUBLIC SCHOOL
FACILITIES , DISTRICT ADMINISTRATIVE AND OTHER
SUPPORT SERVICES
3 . DESIGN , PLANNING AND ENGINEERING COSTS EQUAL
TO NOT MORE THAN 20% OF THE ACQUISITION,
REHABILITATION, CONSTRUCTION OR RECONSTRUCTION COST
OF THE SPECIFICALLY DESIGNATED PROJECT .
3 . 4 THE MONIES REQUIRED TO BE PAID INTO THE FUND BY THIS
AGREEMENT SHALL BE PAID TO FUND NOTWITHSTANDING ANY AGENCY BOND
RESOLUTION OR INDENTURE PROVIDING FOR THE ISSUANCE TO TAX ALLOCATION
BONDS , OR OTHER FORMS OF INDEBTEDNESS INCURRED BY AGENCY UNDER THE
COMMUNITY REDEVELOPMENT LAW INCLUDING REVENUES TO BE DISTRIBUTED TO
OTHER AFFECTED TAXING ENTITIES TO ALLEVIATE ANY FINANCIAL BURDEN OR
DETRIMENT CAUSED BY AGENCY ' S PROJECT, EXCEPT AS MAY THEREAFTER BE
MUTUALLY AGREED UPON.
3 . 5 THAT PORTION OF TAXES WHICH ARE TO BE ALLOCATED TO
AGENCY PURSUANT TO SECTION 33670 (b ) AND WHICH ARE TO BE PAID TO THE
FUND PURSUANT TO SECTION 3 . 1 SHALL BE ALLOCATED AND PAID TO THE FUND
NO LATER THAN THIRTY ( 30 ) DAYS AFTER TAXES ARE ALLOCATED AND PAID TO
AGENCY BY THE RIVERSIDE COUNTY AUDITOR OR OFFICER RESPONSIBLE FOR THE
DISBURSEMENT OF TAXES .
3 . 6 DISTRICT SHALL BE ALLOCATED , IN ADDITION TO THE PORTION
OF TAXES ALLOCATED PURSUANT TO SUBDIVISION (a ) OF SECTION 33670 AND
SECTION 3 . 1 OF THIS eGRSEMENT, ALL OR ANY PORTION OF THE TAX REVENUES
ALLOCATED TO AGENCY PURSUANT TO SUBDIVISION (b) OF SECTION 33670
ATTRIBUTABLE TO INCREASES IN THE RATE OF TAX IMPOSED FOR THE BENEFIT
OF THE DISTRICT WHICH LEVY OCCURS AFTER THE TAX YEAR IN WHICH THE
ORDINANCE ADOPTING THE REDEVELOPMENT PLAN BECOMES EFFECTIVE.
3 .7 SPECIAL BONDED INDEBTEDNESS TAXES FOR EXISTING DEBT
SERVICE ATTRIBUTABLE TO THAT AREA WITHIN THE TERRITORIAL LIMITS OF THE
DISTRICT WHICH WOULD HAVE OTHERWISE BEEN LEVIED UPON TAXABLE PROPERTY
IN THE PROJECT AREA BY OR FOR THE BENEFIT OF THE DISTRICT AFTER THE
EFFECTIVE DATE OF ORDINANCE NO. 1264 WHICH WOULD HAVE BEEN ALLOCATED
TO AGENCY PURSUANT TO SECTION 33670 (b ) SHALL CONTINUE TO BE COLLECTED
BY THE COUNTY OF RIVERSIDE AND WHEN SO COLLECTED SHALL BE ALLOCATED
AND PAID TO THE DISTRICT AND SHALL BE USED TO PAY THE PRINCIPAL OF AND
INTEREST OF EXISTING BONDED INDEBTEDNESS. WHEN SUCH INDEBTEDNESS, IF
ANY , AND INTEREST THEREOF, HAS BEEN PAID , ALL MONIES THEREAFTER
RECEIVED FROM TAXES ATTRIBUTABLE TO THE DISTRICT UPON THE TAXABLE
PROPERTY WITHIN THAT PORTION OF SUCH REDEVELOPMENT PROJECT INCLUDED
WITH THE TERRITORIAL LIMITS OF PROJECT SHALL BE ALLOCATED PURSUANT TO
SECTION 33670 .
3 . 8 TAX INCREMENT ALLOCATED TO DISTRICT BY AGENCY UNDER
THIS AGREEMENT SHALL INCLUDE ALL ALLOCATIONS OF SUCH TAX INCREMENT
EXCEPT THAT AN AMOUNT NOT TO EXCEED 20% OF FUNDS COLLECTED PURSUANT TO
SECTION 3 . 1 WILL BE DEDUCTED FROM THE FUND FOR THE PURPOSE OF
SATISFYING THE REQUIREMENTS OF HEALTH AND SAFETY CODE SECTION 33334. 2 .
TAX INCREMENT PAYMENTS REDUCED TO DISTRICT UNDER THIS SECTION SHALL BE
INCREASED PROPORTIONALLY IN THE EVENT AGENCY REDUCES OR ELIMINATES THE
DEPOSIT OF TAX INCREMENT TO AGENCY ' S LOW AND MODERATE INCOME HOUSING
FUND.
3 . 9 MONIES INCLUDING INTEREST ACCRUED, OTHERWISE REQUIRED
BY THIS AGREEMENT TO BE PAID TO DISTRICT BY AGENCY MAY BE RETAINED IN
WHOLE OR PART BY AGENCY UPON REQUEST OF DISTRICT. SUCH FUNDS
INCLUDING INTEREST SHALL BE ALLOCATED BY AGENCY TO THE FUND AND SHALL
• i
BE USED TO PAY ON BEHALF OF THE DISTRICT THE PRINCIPAL OF AND INTEREST
ON LOANS , CONSTRUCTION PROJECTS , MONEY ADVANCED TO, OR INDEBTEDNESS
(WHETHER FUNDED , REFUNDED, ASSUMED OR OTHERWISE) INCURRED BY AGENCY TO
FINANCE OR REFINANCE IN WHOLE OR PART, THE PROJECTS SET FORTH IN
SECTION 3 . 3 OF THIS AGREEMENT.
4 . 0 IF AFTER THIS AGREEMENT IS EXECUTED , THE STATE OF
CALIFORNIA ENACTS LAWS OR POLICIES TO CONFLICT WITH ALL OR ANY PORTION
OF THIS AGREEMENT, THE AGENCY AND DISTRICT MAY MUTUALLY AGREE TO
EXCUSE PERFORMANCE OF ALL OR ANY PORTION OF THIS AGREEMENT . IN THE
EVENT ANY SECTION OR PORTION OF THIS AGREEMENT SHALL BE HELD, FOUND OR
DETERMINED TO BE UNENFORCEABLE OR INVALID FOR ANY REASON WHATSOEVER,
THE REMAINING PROVISIONS SHALL REMAIN IN EFFECT, AND THE PARTIES
HERETO SHALL TAKE FURTHER ACTIONS AS MAY BE NECESSARY AND AVAILABLE TO
THEM TO EFFECTUATE THE INTENT OF THE PARTIES TO ALL PROVISIONS SET
FORTH IN THIS AGREEMENT.
4 . 1 IF EITHER PARTY. COMMENCES LITIGATION AGAINST THE OTHER
FOR THE PURPOSE OF DETERMINING OR ENFORCING ITS RIGHT HEREUNDER OR FOR
MONEY DAMAGES FOR A BREACH HEREOF OR FOR OTHER EQUITABLE RELIEF
RELATED HERETO , THE PREVAILING PARTY SHALL BE ENTITLED TO RECEIVE FROM
THE LOSING PARTY, ATTORNEY FEES IN AN AMOUNT DETERMINED BY THE COURT,
TOGETHER WITH COSTS REASONABLY INCURRED IN PROSECUTING OR DEFENDING
SUCH ACTION.
4 . 2 DISTRICT AND AGENCY MUTUALLLY AGREE TO ASSIST EACH
OTHER IN THE IMPLEMENTATION OF THE REDEVELOPMENT PLAN IN ACCORDANCE
WITH APPLICABLE STATE AND FEDERAL LAWS . DISTRICT AND AGENCY SHALL
SUPPLY TO ONE ANOTHER SUCH INFORMATION AND REPORTS AS FROM TIME TO
TIME EITHER MAY REQUIRE TO UNDERTAKE THEIR RESPECTIVE OBLIGATIONS .
COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS
i
DATED .�>,�,p�, CHAIRMAN
ATTEST: APPi20VE
ASSISTANT EY —HE Ct�MMUMTY fZl!DLgr
i
SECRETARY AGENCY BY RES. No.
PALM SPRINGS UNIFIED SCHOOL DISTRICT
DATED August 20 , 1986 PRESIDENT
ATTEST:
CLER
CITY OF PALM SPRINGS
DATED �G� �f CITY MANAGER
ATTEST:
CITY APPROVED BYTHECITYCOUNCIL
CLERK BY RES. NO.
1 .
,HFROV D S TO FORM
City AttOrhOY��,
Date �.I��-
{HI3IT A
PALM SPRINGS UNIFIED SCHOOL DISTRICT
AND THE CCMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS
EXAMPLE OF PASS—THROUGH CALCULATION
Civen ;
1 ) Current Year Assessed Valuation ; 1 , 100 , 000
2 ) Less : Base Year Assessed Valuation 500 , 000
3 ) Equals : Tax Growth from Base Year 0,00 , 000
4 ) Tax Increment Generated a 1% Levy 6 , 000
5 ) Amount Generated By District 0 30% 1 , 300
o' ) 40 % Distribution to District 720
7 ) 40 % Distribution. to Agency 720
3 20 % To Law/Moderate Income :Housing 3o'J
RESOLUTION NO. 445
OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING THE COOPERATIVE AGREEMENT
WITH THE PALM SPRINGS UNIFIED SCHOOL
DISTRICT REGARDING THE DISPOSITION
OF TAX INCREMENT REVENUE FROM THE
BARISTO-FARRELL REDEVELOPMENT PROJECT
AREA. (AREA #B)
WHEREAS the Agency proposes to undertake certain redevelopment activities
in the Baristo-Farrell Redevelopment Project Area pursuant to the Community
Redevelopment Law, in the interests of the health, safety, and general welfare
of the people of the City of Palm Springs; and
WHEREAS the Community Redevelopment Law authorizes redevelopment agencies
to provide that any taxing agencies 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; and
WHEREAS the parties wish to enter into a cooperative agreement to provide
mutual aid and assistance in the redevelopment of the Baristo-Farrell Redevel-
opment Project Area and to alleviate any financial burden or detriment caused
to the District by such redevelopment activities; and
WHEREAS the Agency has found and determined that it would be appropriate
to alleviate any financial burden or detriment caused to the District by
the redevelopment activities by providing that the District shall receive
a portion of the tax revenues generated within the Baristo-Farrell Redevelop-
ment Project Area:
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs as follows:
Section 1. Enter Into Agreement. Direct the Agency Chairman to enter into
agreement and first amendment thereto with the Palm Springs
Unified School District for the allocation of tax increment
from the Baristo-Farrell Redevelopment Project Area, incorporating
the terms set forth below, as on file with the City Clerk.
Section 2. Allocation of Tax Revenues. From the total tax increment revenues
generated from the Baristo-Farrell Redevelopment Project Area
each year, the portion attributable to the District shall receive
a percentage of the District Tax Revenues shall be allocated
as follows:
a. Fifty percent (50%) of the District Tax Revenue less
the twenty percent (20%) state-required housing setaside.
b. One hundred percent ( 100%) of the District' s Bonded
Indebtedness Tax Revenue.
RESOLUTION NO. 445
Section 3, Allocation of Tax Revenues from Project Areas. The parties
agree that the allocation of tax revenues under this Agreement
shall apply to the Baristo-Farrell Redevelopment Project Area
of the Redevelopment Plan commencing with the Base Year,
Section 4. Commencement of Payment. The obligation of the Agency that
payments be made under this Agreement shall commence in the
first fiscal year in which tax revenues are allocated to the
Agency.
Section 5. Allocation of Financial Burden, The parties agree that the
amount received by the District pursuant to this Agreement is
appropriate to alleviate any financial burden or detriment caused
to the District by the implementation of the Redevelopment Plan.
ADOPTED this 17th day of September 1986,
AYES: Members Apfelbaum, Birer, Foster, Smith and Chairman Bogert
NOES: None
ABSENT: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
By
Assistant Secretary Chairman
REVIEWED AND APPROVED