Title
Resolution of the City Council of the City of San Leandro Electing to Receive Statutory Passthrough Payments with Respect to the West San Leandro/MacArthur Boulevard Redevelopment Project Area
Body
WHEREAS, the City Council of the City of San Leandro ("City Council") established the West San Leandro/MacArthur Boulevard Redevelopment Project Area (the "Project Area") and adopted the Redevelopment Plan for the Project Area by Ordinance No. 99-025 adopted June 21, 1999 (as subsequently amended, the "Redevelopment Plan");
WHEREAS, Health and Safety Code Section 33607.5(a) provides that with respect to redevelopment plans adopted on or after January 1, 1994, the redevelopment agency shall pay specified statutory passthrough payments to affected taxing entities, including the community that formed the redevelopment agency, if the community elects to receive such payments;
WHEREAS, Health and Safety Code Section 33607.5(b) provides that commencing with the first fiscal year in which a redevelopment agency receives tax increments and continuing through the last fiscal year in which the agency receives tax increments, the redevelopment agency shall pay to the affected taxing entities, including the community, if the community elects to receive a payment, an amount equal to each such entity's allocated share of 25% of the tax increment received by the agency after deduction of the amount required to be deposited into the Low and Moderate Income Housing Fund, and further provides that in any fiscal year in which the agency receives tax increments, the community that has adopted the redevelopment project area may elect to receive such passthrough payment;
WHEREAS, commencing with Fiscal Year 2011-2012, the City Council desires that the City receive its annual allocation of tax increment pursuant to Health and Safety Code Section 33607.5(b).
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San Leandro as follows:
1. The City of San Leandro hereby elects to be allocated statutory passthrough payments in accordance with Health and Safety Code Section 33607.5(b).
2. The City Clerk is directed to transmit a certified copy of this Resolution to the Alameda County Auditor-Controller.