HomeMy WebLinkAboutA200CITY OF NATIONAL CITY, CALIFORNIA
COMMUNITY DEVELOPMENT COMMISSION AGENDA STATEMENT
MEETING DATE: February 15, 2011
AGENDA ITEM NO.
ITEM TITLE:
kA resolution of the Community Development Commission of the City of National City authorizing the
Chairman to execute a Reimbursement Agreement by and between the City of National City and the
Community Development Commission of the City of National City . (Tax Increment Fund and Low -
Mod Housing Fund).
PREPARED BY: Patricia Beard DEPARTMENT: Redevelopment
PHONE: 4255
APPROVED BY:
EXPLANATION:
In order to provide the City reimbursement for its administrative expenses incurred in administering the
Redevelopment Plan for the National City Redevelopment Project areas, staff proposes the attached
Reimbursement Agreement. The Agreement would cover all expenses incurred at Fiscal Year 2011
levels throughout the longest expected time of the Redevelopment Project's ability to collect Tax
Increment (2052). Attachment 1 to this staff report details the expenses to be reimbursed.
FINANCIAL STATEMENT: APPROVED:
Finance
ACCOUNT NO. This Agreement would reimburse the City not to exceed $5,442,827.14 annually for
staff charges incurred in implementing the Redevelopment Plan. These payments
would be made after all other CDC obligations, such as pass through payments to
other taxing entities, have been made by June 30 of each fiscal year until 2052.
ENVIRONMENTAL REVIEW: Not applicable,
ORDINANCE: INTRODUCTION:
1
FINAL ADOPTION:
STAFF RECOMMENDATION: Adopt the resolution.
BOARD / COMMISSION RECOMMENDATION:
ATTACHMENTS: Attachment 1 — Staff charges to implement the Redevelopment Plan for the National
City Redevelopment Project areas (taken from actual expenses for Fiscal Year 2010).