HomeMy WebLinkAboutResolutionRESOLUTION NO. 2011 — 45
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF NATIONAL CITY AUTHORIZING
THE CHAIRMAN TO EXECUTE A REIMBURSEMENT AGREEMENT
BY AND BETWEEN CITY OF NATIONAL CITY AND THE COMMUNITY
DEVELOPMENT COMMISSION OF THE CITY OF NATIONAL CITY
WHEREAS, Chapter 6, Article 1 of Section 33220 of the California Community
Redevelopment Law (Health and Safety Code Section 33000 et seq.) (the "CRL") authorizes the
Community Development Commission of the City of National City ("CDC") to accept financial
assistance from any public agency, including but not limited to the City, to assist the CDC in the
fulfillment, generally, of the CDC's duties under the CRL; and
WHEREAS, since the inception of the CDC, the City has been advancing, is
currently advancing, and desires to continue advancing in the future, the CDC's annual
Administrative Costs to the CDC at the beginning of each Fiscal Year in accordance with this
Agreement; and
WHEREAS, in consideration for the City's advancement of the CDC's annual
Administrative Costs, the CDC desires to reimburse the City in accordance with this Agreement,
beginning in Fiscal Year 2012 and ending July 17, 2052; and
WHEREAS, the CDC reimbursement to the City, for the City advances, shall
not exceed $5,442,827.14 annually, as set forth in the Agreement.
PASSED and ADOPTED this 15th day of February, 2011.
Ron Morrison, Chairman
ATTEST:
Brad Raulston, Secretary
APPROVED AS TO FORM:
Claudia G. Silva
CDC General Counsel