HomeMy WebLinkAbout86-36 - Tax RevenuesRESOLUTION NO., 86-36
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH ELECTING TO RECEIVE ALL OR ANY
PORTION OF THE TAX REVENUES PURSUANT TO HEALTH
& SAFETY CODE SECTION 33676
• WHEREAS, the Planning Commission of the County of Orange
and the Orange County Development Agency have selected and
designated the boundaries of the project area (the "Project
Area ") for the proposed Santa Ana Heights Redevelopment Project
(the "Project "); and
WHEREAS, pursuant to an Agreement between the County of
Orange (the "County ") and the City of Newport Beach (the "City "),
the City authorized redevelopment by the County of portions of
the Project Area which are within the territorial limits of the
City; and
WHEREAS, portions of the designated Project Area are
within the territorial limits of the City and within the City's
sphere of influence which may be annexed to the territorial
limits of the City; and
WHEREAS, the Orange County Development Agency is
preparing a proposed redevelopment plan (the "Redevelopment
Plan ") for the Project; and
WHEREAS, Section 33676 of the Health & Safety Code
provides that prior to the adoption of a redevelopment plan an
affected taxing agency may elect to receive, in addition to the
portion of taxes allocated to the affected taxing agency pursuant
to Health & Safety Code Section 33670(a), all or any portion of
the tax revenues allocated to the Agency pursuant to Health &
Safety Code Section 33670(b) which are attributable to (a) the
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tax rate increases imposed for the benefit of the taxing agency
after the tax year in which the ordinance adopting the rede-
velopment plan becomes effective; and /or (b) the increases in the
annual assessed value of the taxable property in the Project
Area, as the assessed value is established by the assessment roll
• last equalized prior to the effective date of the ordinance
adopting the Redevelopment Plan, calculated under Revenue and
Taxation Code Section 110.1 (collectively, the "Increase "); and
WHEREAS, the City of Newport Beach desires to receive
all such Increases.
NOW, THEREFORE, the City Council of the City of Newport
Beach does resolve as follows:
Section 1. The City of Newport Beach hereby elects to
receive all Increases as herein defined from areas now within the
territorial limits or hereinafter annexed to the City of Newport
Beach.
Section 2. The City Clerk is hereby directed and
authorized to transmit a copy of this Resolution to the Orange
County Board of Supervisors, Executive Director of the Orange
County Development Agency, and to the Tax Collector of Orange
County.
ADOPTED this 12th �
ATTEST:
City Clerk
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