HomeMy WebLinkAboutCC RESO 2009-17RESOLUTION NO. 2009 -17
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF NATIONAL CITY
PURSUANT TO SECTION 33607.5 (B) OF
THE CALIFORNIA HEALTH AND SAFETY CODE,
ELECTING THAT THE CITY OF NATIONAL CITY
RECEIVE ITS SHARE OF TIER 1 TAX INCREMENT
REVENUE FROM THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF NATIONAL CITY,
RETROACTIVE FROM FISCAL YEAR 2004-2005
TO FISCAL YEAR 2007-2008, IN THE ESTIMATED
AMOUNT OF $742,217
WHEREAS, Section 33607.5 (b) of the California Health and Safety Code
provides that commencing with the first fiscal year in which an agency receives tax increments
and continuing through the last fiscal year in which the agency receives tax increments, a
redevelopment agency shall pay to the affected taxing entities, including a city, if the city elects
to receive a payment, an amount equal to 25 percent of the tax increments received by the
agency after the amount required to be deposited in the Low and Moderate Income Housing
Fund has been deducted. In any fiscal year in which the agency receives tax increments, a city
that has adopted a redevelopment project area may elect to receive the amount authorized by
Section 33607.5 (b); and
WHEREAS, National City's share of this tax increment revenue, commonly
referred to as "Tier 1" revenue, is estimated to be in the amount of $742,217.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
National, pursuant to Section 33607.5 (b) of the California Health and Safety Code, does hereby
elect that the City of National City receive its share of Tier 1 tax increment revenue from the
Community Development Commission of the City of National City, Retroactive from Fiscal Year
2004-2005 to Fiscal Year 2007-2008, in the estimated amount of $742,217.
PASSED and ADOPTED this 20th day of January,
n Morrison, Mayor
ATTEST:
Michael R. Dalla, City Clerk
APPROVED AS TO FORM:
George H. Eiser, III
City Attorney
Passed and adopted by the Council of the City of National City, California, on January
20, 2009 by the following vote, to -wit:
Ayes: Councilmembers Morrison, Parra, Sotelo-Solis, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Mayor of the City of National City, California
City C of the City of Naonal City, California
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2009-17 of the City of National City, California, passed and adopted
by the Council of said City on January 20, 2009.
City Clerk of the City of National City, California
By:
Deputy