HomeMy WebLinkAboutAgenda Statement Amended EOPSCITY OF NATIONAL CITY, CALIFORNIA
COMMUNITY DEVELOPMENT COMMISSION AGENDA STATEMENT
MEETING DATE: September 27, 2011
AGENDA ITEM NO. I
ITEM TITLE:
resolution of the Community Development Commission of the City of National City adopting an
amended Enforceable Obligations Payment Schedule.
PREPARED BY: Patricia Beard V(
PHONE: 4255 C�
EXPLANATION:
[The 2011 California Redevelopment Legislation (AB X1 26 & 27) were approved by the State
Legislature on June 15, 2011 and signed into law by the Governor on June 28, 2011. This Legislation,
which provides for the statewide dissolution of redevelopment agencies, requires all agencies, including
the CDC, to file and Enforceable Obligations Payment Schedule showing required payments through
the end of calendar year 2011. The CDC approved its Enforceable Obligations Payment Schedule on
August 24, 2011. Subsequently, consistent with the 2011 Tax Allocation Bond issuance and
Cooperation Agreement between the City and CDC, two contracts related to the National City Aquatic
Center (a bond project) were approved. The proposed amendment adds these contractual obligations
to the Enforceable Obligations Payment Schedule. Additionally, administrative costs shown only as a
lump sum in the August 24 schedule have been broken down into monthly payments. In keeping with
state law, the proposed amendment has been posted on the City website for three days prior to Board
consideration.
DEPARTMENT: Re• - - - op nt/Special P ojects
APPROVED BY:
FINANCIAL STATEMENT: APPROVED:
ACCOUNT NO. Not applicable. Multiple accounts are impacted by this matter.
ENVIRONMENTAL REVIEW: Not applicable,
ORDINANCE: INTRODUCTION:
FINAL ADOPTION:
1
Finance
STAFF RECOMMENDATION: Adopt the resolution
BOARD / COMMISSION RECOMMENDATION:
ATTACHMENTS:
1. Proposed Amended Enforceable Obligations Payment Schedule