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RESOLUTION NO., 86-36 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />NEWPORT BEACH ELECTING TO RECEIVE ALL OR ANY <br />PORTION OF THE TAX REVENUES PURSUANT TO HEALTH <br />& SAFETY CODE SECTION 33676 <br />• WHEREAS, the Planning Commission of the County of Orange <br />and the Orange County Development Agency have selected and <br />designated the boundaries of the project area (the "Project <br />Area ") for the proposed Santa Ana Heights Redevelopment Project <br />(the "Project "); and <br />WHEREAS, pursuant to an Agreement between the County of <br />Orange (the "County ") and the City of Newport Beach (the "City "), <br />the City authorized redevelopment by the County of portions of <br />the Project Area which are within the territorial limits of the <br />City; and <br />WHEREAS, portions of the designated Project Area are <br />within the territorial limits of the City and within the City's <br />sphere of influence which may be annexed to the territorial <br />limits of the City; and <br />WHEREAS, the Orange County Development Agency is <br />preparing a proposed redevelopment plan (the "Redevelopment <br />Plan ") for the Project; and <br />WHEREAS, Section 33676 of the Health & Safety Code <br />provides that prior to the adoption of a redevelopment plan an <br />affected taxing agency may elect to receive, in addition to the <br />portion of taxes allocated to the affected taxing agency pursuant <br />to Health & Safety Code Section 33670(a), all or any portion of <br />the tax revenues allocated to the Agency pursuant to Health & <br />Safety Code Section 33670(b) which are attributable to (a) the <br />-1- <br />