HomeMy WebLinkAboutResolution - 3311 STATE OF CALIFORNIA ) RESOLUTION NO. 3311
COUNTY OF RIVERSIDE)ss
_ CITY OF SAN JACINTO )
A RESOLUTION OF THE CITY OF SAN JACINTO, CALIFORNIA
AUTHORIZING A REPORT TO THE RIVERSIDE COUNTY AUDITOR
OF THE REDEVELOPMENT AGENCY'S INTENT TO USE
ACCUMULATED TAX INCREMENT TO MAKE THE FISCAL YEAR
2009-10 SUPPLEMENTAL EDUCATIONAL REVENUE
AUGMENTATION FUND PAYMENT
WHEREAS, pursuant to the California Community Redevelopment Law (Health
& Safety Code Sections 33000, et seq.) ("CRL"), the City Council of the City of San
Jacinto ("City') approved and adopted a Redevelopment Plan ("Redevelopment Plan")
for the redevelopment Project Areas known as the San Jacinto Redevelopment Project
and Soboba Springs Project Area ("Project Areas"); and
WHEREAS, the Governing Board of the San Jacinto Redevelopment Agency
("Agency') is engaged in activities to implement the Redevelopment Plan for the Project
Areas pursuant to the provisions of the CRL; and
WHEREAS, the State legislature passed AB 26 4x, as amended by Senate Bill
68, as a budget balancing measure, which requires redevelopment agencies statewide
to make payments totaling $1,700,000,000 to county Supplemental Educational
Revenue Augmentation Funds ("SERAF") during Fiscal Year 2009-10; and
WHEREAS, by March 1, 2010, the legislative body, City Council, must report to
the County Auditor how the Agency intends to fund the required SERAF payment for
Fiscal Year 2009-10; and
WHEREAS, the Agency's required SERAF contribution for Fiscal Year 2009-10
is $1,887,430, which, unless the SERAF obligation is overturned by pending litigation,
the Agency must pay to the County Auditor for deposit in the County's SERAF fund prior
to May 10, 2010; and
WHEREAS, the Agency has sufficient accumulated non-housing tax increment
funds to make the SERAF payment.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San
Jacinto as follows:
Section 1. The facts set forth in the recitals above are true and correct and
hereby incorporated into the City' Council's findings and determinations.
Section 2. The City Council hereby authorizes and approves reporting to the
`— County Auditor the Agency's intention to use accumulated non-housing tax increment
funds in order to pay the Agency's SERAF payment.
1