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HomeMy WebLinkAboutResolution - RDA 11-13 STATE OF CALIFORNIA ) RESOLUTION NO. RDA11-13 COUNTY OF RIVERSIDE ) ss CITY OF SAN JACINTO } %ftr A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JACINTO CONDITIONALLY APPROVING AND AUTHORIZING THE EXECUTION OF A COMMUNITY REMITTANCE FUNDING AGREEMENT BY AND BETWEEN THE CITY OF SAN JACINTO AND THE REDEVELOPMENT AGENCY PROVIDING FOR THE TRANSFER OF TAX INCREMENT REVENUE TO THE CITY IN AN AMOUNT NOT TO EXCEED THE AMOUNT OF THE COMMUNITY REMITTANCE REQUIRED UNDER AB 1X 27 WHEREAS, -pursuant to the Community Redevelopment Law (Health and Safety Code sections 33000 et seq.) ("CRL"), the City Council of the City of San Jacinto ("City") created the Redevelopment Agency of the City of San Jacinto ("Agency") to serve as the redevelopment agency within the City; and WHEREAS,the Agency has been responsible for implementing the Redevelopment Plans for the San Jacinto and Soboba Springs Redevelopment Projects covering certain properties within the City (collectively, "Project Areas"); and WHEREAS, as part of the 2011-2012 State budget bill, companion bills AB 1X 26 and AB 1 X 27 require that each agency formed under the CRL be dissolved unless the community that created it enacts an ordinance committing it to participate in an "Alternative Voluntary Redevelopment Program," in order to enable a redevelopment agencywithin that community to remain in existence and carry out the provisions of the CRL; and WHEREAS, the City adopted an urgency version of the Continuation Ordinance (Ordinance No. 11-10) on July 19, 2011 . The City also held a first reading of a regular version of the Continuation Ordinance (Ordinance No. 11-11 ) on July 19, 2011 and a second reading on August 16, 2011 ; and WHEREAS, the California Director of Finance has notified the City that its Community Remittance for Fiscal Year 2011-2012 is Two Million Two Hundred Thirty-One Thousand Six Hundred Fifty Dollars ($2,231 ,650); and WHEREAS, a Petition for Writ of Mandate was filed in the Supreme Court of the State of California on July 18, 2011 (California Redevelopment Association, et al. v. Ana Matosantos, et at., Case No. 5194861), challenging the constitutionality of AB 1X 26 and AB 1 X 27 on behalf of cities, counties and redevelopment agencies and requesting a stay of enforcement of AB 1 X 26 and AB 1 X 27 pending the Supreme Court's determination of the constitutionality of AB 1 X 26 and AB 1 X 27; and 244M 34)WO 68723bi. 5 1 WHEREAS, on August 11, 2011 , the Supreme Court agreed to take the case and issued an order for the immediate stay of enforcement of AB 1X 26 in part, which suspended all new redevelopment activity, and AB 1 X 27 in its entirety, such that the City and the Agency cannot currently pursue new redevelopment activity under the Alternative Voluntary Redevelopment Program; and WHEREAS, on August 17, 2011 ,the Supreme Court modified its order to clarify that Health and Safety Code Sections 34161 through 34169.5, enacted by AB 1X 26, and Health and Safety Code Section 34194(b)(2), enacted by AB 1X 27, are not stayed ("Court's Stay"); and WHEREAS, California Health and Safety Code Section 34194.2, which is currently not effective as a result of the Court's Stay, provides that the City may enter into an agreement with the Agency, whereby the Agency will annually transfer tax increment revenue to the City, in an amount not to exceed the amount of the Community Remittance for such fiscal year, for the purpose of financing activities within the Project Areas related to the Agency's goals ("Agreement"); and WHEREAS, because California Health and Safety Code Section 34194.2 is stayed by the Court's Stay, the City and the Agency desire to enter into this Agreement, effective on the condition that the Supreme Court orders that the Court's Stay be lifted or modified in a manner that permits the Agency and the City to enter into the Agreement to establish a yearly obligation of the Agency to transfer tax increment revenue to the City on the condition that the Agency's transferof tax increment revenue and the City's payment of the -- Community Remittance will be made only if there is a final determination that AB 1X 26 and AB 1 X 27 are constitutional and the Ordinance electing to participate in the Alternative Voluntary Redevelopment Program is valid and effective for such purpose or later ratification or re-adoption of such Ordinance by the City or adoption of a new ordinance by the City and, in each case, such action is effective to allow the City and the Agency to proceed pursuant to the Alternative Voluntary Redevelopment Program; and WHEREAS, the City reserves the right, whether any Community Remittance has been paid, to challenge the legality of AB 1 X 26 and AB 1X 27; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW,THEREFORE, BE IT RESOLVED, determined and ordered by the Governing Board of the San Jacinto Redevelopment Agency ("Governing Board") as follows: Section 1. Recitals. The Recitals set forth above are true and correct and incorporated herein by reference. Section 2. Finding. Upon consideration of the facts set forth in the staff report accompanying this Resolution and -other written and oral evidence presented to the Governing Board, the Governing Board finds that the transfer of tax increment revenue from the Agency to the City for the funding of the Community Remittance payment by the 24438.30000 bU72365. 5 2 City will: (1) allow the Agency to remain in existence and continue to act to accomplish the Agency's goals in the Project Areas and is in the best interests of the health, safety and welfare of the City's residents; and (2)free the City from committing general fund revenues or other City assets to pay the Community Remittance for any fiscal year. Section 3. Approval of Agreement. The Governing Board hereby conditionally approves the Agreement in substantially the form attached hereto as Exhibit A and incorporated herein by reference. The Agreement shall be effective upon the Court's Stay being lifted or modified in a manner that permits the Agency and the City to enter into this Agreement and the Ordinance electing to participate in the Alternative Voluntary Redevelopment Program is valid and effective for such purpose, or later ratification or re- adoption of such Ordinance by the City or adoption of a new Ordinance by the City and, in each case, such action is effective to allow the City and the Agency to proceed pursuant to the Alternative Voluntary Redevelopment Program, The Agreement provides that the Agency's obligation to transfer tax increment revenues to the City and the City's payment of the Community Remittance will be conditioned upon: (1)a final determination that AB 1 X 26 and AB 1X 27 are constitutional; and (2) the Ordinance being valid and effective for such purpose or later ratification or re-adoption of such Ordinance by the City or adoption of a new Ordinance by the City and, in each case, such action is effective to allow the City and the Agency to proceed pursuant to the Alternative Voluntary Redevelopment Program. The Governing Board authorizes and directs the Executive Director to execute the Agreement on behalf of the Agency, subject to any minor clarifying, conforming and technical changes as may be approved by Agency Counsel. The Executive Director is further authorized and directed to take such actions and execute such documents as may low be necessary to carry out the obligations of the Agency under the Agreement. Section 4. CEQA. The Governing Board finds, under Title 14 of the California Code of Regulations, Section 15378(b)(4), that this Resolution is exempt from the requirements of the California Environmental Quality Act ("CEQA") in that it is not a "project," but instead consists of the creation and continuation of a governmental funding mechanism for potential future projects and programs, and does not commit funds to any specific project or program. The Governing Board, therefore, directs that a Notice of Exemption be filed with the County Clerk of the County of Riverside in accordance with CEQA Guidelines. Section 5. Severability. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Agency hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. Section 6. Certification. The Agency Secretary shall certify to the adoption of this Resolution. 24413.31rtYUu'6R7?Sbi, i 3 Section 7. Effective Date. This Resolution shall become effective upon its adoption. PASSED, APPROVED AND ADOPTED this 20'' day of September, 2011 , by the following vote: Ayes: Bartel, Di Memmo, Kotyuk, Ledezma, Miller Nays: None Absent: None Abstain: None City of San Jaci r Redevelopment Agency l 14 a Scott Miller, Chairman ATTEST: ichard Miller, Agency Secretary APPROVED AS TO FORM: Best Best & Krieger, LLP r ,-� effr y S. Ball ingar?Agency Counsel 2W8.31.1000'68723,t. 5 4 CERTIFICATION I, Richard Miller, Secretary of the Redevelopment Agency of the City of San Jacinto, do hereby certify that the foregoing Resolution RDA 11-113 was regularly introduced and adopted by the Governing Board of the Redevelopment Agency of the City of San Jacinto, at a regular meeting thereof held on the 20�" day of September, 2011, IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of San Jacinto, California this 20'' day of September, 2011 . Richard Miller, Agency Secretary 2443,910000'68721(Si 5 S Exhibit A Conditional Community Remittance Funding Agreement v wr. ..r 24439.1011006M7236) 5 (} COMMUNITY REMITTANCE FUNDING AGREEMENT This COMMUNITY REMITTANCE FUNDING AGREEMENT ("Agreement"), is dated as of September, 20, 2011, by and between the CITY OF SAN JACINTO, a California municipal corporation ("City"), and the REDEVELOPMENT AGENCY OF THE; CITY OF SAN JACINTO, a public body, corporate and politic ("Agency"). The City and the Agency are sometimes, individually, referred to in this Agreement as a "Party" or are sometimes, collectively, referred to in this Agreement as the "Parties." The Parties enter into this Agreement with reference to the following recited facts: RECITALS A. Pursuant to the Community Redevelopment Law (Health and Safety Code sections 33000 et seq.), the City Council of the City created the Agency to serve as the redevelopment agency within the City; and B. The Agency has been responsible for implementing the redevelopment plans for the San Jacinto and Soboba Springs Redevelopment Projects covering certain properties within the City (collectively, "Project Areas"),- and C. Continued redevelopment of the Project Areas to eliminate blight, improve public facilities and infrastructure, renovate and construct affordable housing, and enter into partnerships with private industries to create jobs and expand the local economy is vital to the health, safety and welfare of the City; and D. On June 28, 2011, the State of California enacted Califomia Health and Safety Code Section 34161 et seq. as part of the State's enactment of Assembly Bill IX 26 ("AB IX 26"), immediately prohibiting further redevelopment activity by redevelopment agencies and dissolving all redevelopment agencies in the State of California on October I, 201 l; and E. On June 28, 2011, the State of California also enacted California Health and Safety Code Section 34192 et seq. under Assembly Bill l X 27 ("AB IX 27") , providing communities the opportunity to continue redevelopment activity through their local redevelopment agencies by electing to participate in the "Alternative Voluntary Redevelopment Program"; and F. On July 18, 2011, a Petition for Writ of Mandate was filed in the Supreme Court of the State of Califomia in the matter of California Redevelopment Association, cat al. ,:. Ana Matosantos, et al., Case No. 5194861 ("Legal Action"), challenging the constitutionality of AB IX 26 and AB I X 27, on behalf of cities, counties and redevelopment agencies and requesting a stay of enforcement of A13 1X 26 and AB 1 X 27, pending the Supreme Court's determination of the constitutionality of AB 1 X 26 and AB 1 X 27; and G. On August 11, 2011, the Supreme Court issued an order in the Legal Action granting a partial stay of California Health and Safety Code Section 34161 et seq., exclusive of California Health and Safety Code Sections 34161 through 34167 (which prohibit all new redevelopment activity), and a complete stay of California Health and Safety Code Section 34192 et seq., such that the City and the Agency cannot currently pursue new redevelopment activity under the Alternative Voluntary Redevelopment Program (eollcctively, "Stay"), and H. On August 17, 201 L, the Supreme Court modified the Stay such that the Stay no longer affects California Health and Safety Code Sections 34167.5 through 34169.5, in addition to California Health and Safety Code Sections 34161 through 34167, or California Health and Safety Code Section 34194(b)(2); and 1. If upheld by the Supreme Court, the Alternative Voluntary Rcdevelopment Program would allow the Agency to continue put-suing redevelopment within the City, rather than being dissolved pursuant to California Health and Safety Code Section 34161 e1 seq.; and J. On July 19, 2011, the City elected to participate in the Alternative Voluntary Redevelopment Program by adoption of Ordinance Nos I 1-10 and Il-II ("Ordinances"), stating the City's election to participate in the program; and K. The City intends to participate in the Alternative Voluntary Redevelopment Program under the provisions of California Health and Safety Code Section 34161 et seq., and California Health and Safety Code Section 34192 et seq., as they existed prior to imposition of the Stay, because such laws prohibited all new redevelopment activity within the City, would dissolve the Agency and threaten the future health, safety and weltare of the City; and L. The City does not intend to participate in the Alternative Voluntary Redevelopment Program, if all or any portion of California Health and Safety Code Section 34 16 1 et seq., or California Health and Safety Code Section 34192 et seq., are determined by a court of competent jurisdiction to be unconstitutional, illegal, invalid or otherwise unenforceable or inapplicable, for any reason or in any manner that allows the Agency to continue its operations and redevelopment activities in a manner acceptable to the City Council, without the City's participation in the Alternative Voluntary Redevelopment Program, and all appeals of such court determination are exhausted or unsuccessful, or the time for filing an appeal of such court determination has lapsed; and M. Participation in the Alternative Voluntary Redevelopment Program requires the City to pay certain dollar amounts annually, based on formulas set forth in California Health and Safety Code Section 34194 ("Community Remittance"), to the County of Riverside Auditor- Controller; and N. For Fiscal Year 2011-2012 the State of California Director of Finance was required to notify the City by August 1, 2011. of the dollar amount of the Community Remittance payable by the City to participate in the Alternative Voluntary Redevelopment Program for such fiscal year; and 2 O. The State of California Director of Finance notified the City, as of August 1. 2011, that the dollar amount of the Community Remittance payable by the City to participate in the Alternative Voluntary Redevelopment Program for Fiscal Year 2011-2012 is Two Million Two Hundred Thirty-One Thousand Six Hundred Fifty Dollars ($2,231,650); and P. California Health and Safety Code Section 34194.2, which is currently not effective as a result of the Stay, provides that the City may enter into an agreement with the Agency, whereby the Agency will transfer to the City a portion of the tad valorem property tax revenues allocated and actually paid by the County of Riverside ("County") to the Agency in each fiscal year, beginning with the 201 1-2012 fiscal year, pursuant to the redevelopment plans for each of the Project Areas and Health and Safety Code Section 33670 ("Tax Increment"), in an amount not to exceed the amount of the Community Remittance for such fiscal year, for the purpose of financing activities within the Project Areas related to the Agency's goals, and Q. The City and the Agency desire to enter into this Agreement, with the effectiveness of this Agreement conditioned on the Supreme Court ordering the Stay lifted or modified in a manner that permits the Agency and the City to enter into this Agreement; and IZ. The City reserves the right, whether or not any Community Remittance has been paid, to challenge the legality of California Health and Safety Code Section 34161, cat seq., andr`or California Health and Safety Code Section 34192, et seq. AGREEMENT NOW, 'THEREFORE, in consideration of the promises of the City and the Agency contained in this Agreement and other good and valuable consideration, the City and the Agency agree as follows: 1. Conditions to Effectiveness of Agreement. This Agreement shall only become effective if and when the Supreme Court orders the Stay lifted or modified in a manner that permits the Agency and the City to enter into this Agreement and the City's Ordinance electing to participate in the Alternative Voluntary Redevelopment Program is valid and effective for such purpose or later ratification or re-adoption of such Ordinance by the City or adoption of a new Ordinance by the City and, in each case, such action is effective to allow the City and the Agency to proceed pursuant to the Alternative Voluntary Redevelopment Program. 2. Agency_ Pa rMents to City to Fund Communit�Rcmittance Each Fiscal Year. 'f he Agency's obligation to make payments to the City pursuant to this Agreement is expressly conditioned upon ("Condition"): (1) a final determination by the California Supreme Court that California Health and Safety Code Section 34161, et seq., and California Health and Safety Code Section 34102, et seq„ are constitutional; and (2) the City's ordinance electing to participate in the Alternative Voluntary Redevelopment Program is valid and effective for such purpose or the City's later ratification or re-adoption of such ordinance or City adoption of a new ordinance and, in each case, such City action is effective to allow the City and the Agency to proceed pursuant to the Alternative Voluntary Redevelopment Program. Subject to the prior occurrence of the Condition, on or before each January 10 and May 10 of each fiscal year while this Agreement is in effect, the Agency shall pay to the City an amount of Tax Increment or other 3 Agency funds equal to one-half of the amount of the Community Remittance for such fiscal year; provided, however, that for the 201 1-2012 fiscal year the Agency shall pay to the City an amount of Tax increment or other Agency funds equal to the amount of the Community Remittance for- such fiscal year in a time and manner that will allow the City to pay the Community Remittance to the County for the 201 1-2012 fiscal year, within the time required by law. The amount of the Community Remittance for each fiscal year shall he determined pursuant to California Health and Safety Code Section 34194. The City and the Agency agree that, if the Agency does not have sufficient Tax Increment available to pay the full Community Remittance in any fiscal year, the City shall have no obligation to use City funds for such purpose, in which case the Agency may be dissolved pursuant to California Health and Safety Code Section 34195. 3, City Payment of Community.Remittance Each Fiscal Year. Tile City's obligation to make payments of Community Remittances pursuant to this Section 3 is expressly conditioned upon the prior occurrence of the Condition. Subject to the prior occurrence of the Condition and receipt of Tax Increment or other,funds from the Agency in an amount equal to the amount of the Community Remittance pursuant to Section 2, the City shall pay to the County of Riverside Auditor-Controller, no later than January 15 and May 15 of each year, one-half of the amount of the Community Remittance due for such fiscal year while this Agreement is in effect; provided, however, that for the 2011-2012 fiscal year the City shall pay the Community Remittance for the 2011-2012 fiscal year, within the time required by law. The City's obligation to pay such Community Remittances shall be a special limited fund obligation of the City payable solely from Tax Increment or other funds paid to the City by the Agency pursuant to this Agreement for the purpose of paying the Community Remittance in a particular fiscal year. Nothing contained in this Agreement is intended to nor shall be deemed to be a pledge of the City's general fund revenues or other City assets to payment of the Community Remittance for any fiscal year. 4. Termination. This Agreement may be terminated by either the City or the Agency, if all or any portion of California Health and Safety Code Section 34161 et seq., or California Health and Safety Code Section 34192 et .seq„ are determined by a court of competent jurisdiction to be unconstitutional, illegal, invalid or otherwise unenforceable or inapplicable, for any reason or in any manner. Notwithstanding the foregoing or any other provision of this Agreement, either the City or the Agency may terminate this Agreement at any time, for any reason or no reason. 5. Remedies. 5.l Remedies. City and Agency shall have all remedies available to either of them at law or in equity under the laws of the State of California regarding any Event of Default by the other under this Agreement, subject to Section 5.3. 5.2 Rights and Remedies are Cumulative. Except as otherwise expressly stated in this Agreement, the rights and remedies of the Parties set forth in this Agreement are cumulative and the exercise by either Party of one or more of Stich rights or remedies shall not preclude the exercise by such Party, at the same or different tines, of any other rights or remedies for the same Default or Event of Default or the same rights or remedies for any other Default or Event of Default. 4 5.3 No Consequential Damages. Whenever either Party may seek or claim damages against the other Party, neither Party shall seek, nor shall there be awarded or granted by any court, arbitrator, or other adjudicator, any speculative, consequential, collateral, special, punitive, or indirect damages, whether such breach shall be willful, knowing, intentional, deliberate, or otherwise. The Parties intend that any damages awarded to either Party shall be limited to actual, direct damages sustained by the aggrieved Party. Neither Party shaII be liable for any loss of profits suffered or claimed to have been suffered by the other Party. 5.4 Definitions. For purposes of this Agreement, the following terms are defined as follows: (a) Dq#udt. Any Monetary Default or Non-Monetary Default. (b) Event o1'Def zult, The occurrence of any one or more of the following: (i) Monetary Default. A Monetary Default that continues for thirty (30) days after Notice from the non-defaulting Party, specifying in reasonable detail the amount of money not paid and the nature and calculation of each such payment; or (i i) Non-Monctary Default, Any Non-Monetary Default that is not cured within thirty (30) days after Notice to the Party alleged to be in Default describing the Non-Monetary Default in reasonable detail, or, in the case of a Non-Monetary Default that cannot with reasonable diligence be cured within thirty (30) days after such Notice, if the Party alleged to be in Default does not do all of the following: (i) within thirty (30) days after Notice of' such Non-Monetary Default, advise the other Party of the intention of the Party alleged to be in Default to take all reasonable steps to cure such Non-Monctary Default; and (ii) duly commence such cure, within such period, and then prosecute such cure to completion within a reasonable time under the circumstances. (c) Monetary Default. Any failure by either Party to pay or deposit, when and as this Agreement requires, any amount of money whether to or with a Party or a third person. (d) Non-Monetary Defauh. The occurrence of any of the following, except to the extent constituting a Monetary Default: (a) any failure of a Party to perform any of its obligations under this Agreement; (b) a Party's failure to comply with any material restriction or prohibition in this Agreement; or (c) any other event or circumstance that, with passage of time or giving of Notice, or both, or neither, would constitute a breach of this Agreement. 6. General Provisions. 6.1 Incorporation of Recitals. The Recitals of fact set forth preceding this Agreement are true and correct and are incorporated into this Agreement in their entirety by this reference. 6.2 Notices, Demands and Communications Between the Parties. Any and all notices submitted by either Party to the other Party pursuant to or as required by this Agreement shall be proper, if' in writing and transmitted to the address of the City or the Agency, as applicable, set forth below in this Section 6.2, by one or more of the following methods: (1) 5 messenger for immediate personal delivery, (2) a nationally recognized overnight (one business day) delivery service (i.e., federal Express, United Parcel Service, etc.); or (3) registered or certified United States mail, postage prepaid, return receipt requested. Such notices may be sent in the same manner to such other addresses as either Party may designate, from time to time, by notice. Any notice shall be deemed to be received by the addressee, regardless of whether or when any return receipt is received by the sender or the date set forth on such return receipt, on the day that the notice is delivered by personal delivery, on the date of delivery by a nationally recognized overnight Courier service (or when delivery has been attempted twice, as evidenced by the written report of the courier service) or four (4) calendar days alter the notice is deposited with the United States Postal Service for delivery, as provided in this Section 6.2. Rejection, other refusal to accept or the inability to deliver a notice because of a changed address of which no notice was given or other action by a person to whom notice is sent, shall be deemed receipt of the notice. The following are the authorized addresses for the submission of notices to the Parties, as of the date of this Agreement: To City: City of San Jacinto 595 S. San Jacinto Avenue San Jacinto, CA 92583 Attn: City Manager To Agency: Redevelopment Agency of the City of San Jacinto 595 S. San Jacinto Avenue San Jacinto, CA 92583 Attn: Executive Director 6.3 Relationship of Parties. The Parties each intend and agree that the City and the Agency are independent contracting entities and do not intend by this Agreement to create any partnership, joint venture, or similar business arrangement, relationship or association between thern. 6.4 Survival of Agreement. All of the provisions of this Agreement shall he applicable to any dispute between the Parties arising from this Agreement, whether prior to or following expiration or termination of this Agreement, until any such dispute is finally and completely resolved between the Parties, either by final written settlement, entry of a non- appealable judgment or expiration of all applicable statutory limitations periods and all terms and conditions of this Agreement relating to dispute resolution and limitations on damages or remedies shall survive any expiration or termination of this Agreement. 6.5 Calculation of Time Periods. Unless otherwise specified, all references to time periods in this Agreement measured in days shall be to consecutive calendar days, all references to time periods in this Agreement measured in months shall be to consecutive calendar months and all references to time periods in this Agreement measured in years shall be to consecutive calendar years. 6.6 Principles of Interpretation. No inference in favor of or against any Party shall be drawn from the fact that such Party has drafted any part of this Agreement. The Parties have 6 both participated substantially in the negotiation, drafting, and revision of this Agreement, with advice from legal and other counsel and advisers of their own selection. A word, tcf-m or phrase defined in the singular in this Agreement may be used in the plural, and vice versa, all in accordance with ordinary principles of English grammar, which shall govern all language in this Agreement. The words "include" and "including" in this Agreement shall be construed to be followed by the words: "without limitation." Each collective noun in this Agreement shall be interpreted as if followed by the words "(or any part of it)," except where the context clearly requires otherwise. Every reference to any document, including this Agreement, refers to such document, as modified from time to time (excepting any modification that violates this Agreement), and includes all exhibits, schedules, addenda and riders to such document. The word "or" in this Agreement includes the word "and." Every reference to a law, statute, regulation, order, form or similar governmental requirement refers to each such requirement as amended, modified, renumbered, superseded or succeeded, from time to time. 6.7 Governing Law. The substantive and procedural laws of the State of California shall govern the interpretation and enforcement of this Agreement, without application of conflicts or choice of laws principles. 6.8 Binding on Successors and Assigns. ']'his Agreement shall be binding upon and inure to the benefit of the Partics and their respective legal representatives, successors and assigns. 6.9 No Other Representations or Warranties. Except as expressly set forth in this Agreement, no Party makes any representation or warranty material to this Agreement to any other Party. 6.10 No Third-Party Beneficiaries. Nothing in this Agreement, express or implied, is intended to confer any rights or remedies under or by reason of this Agreement on any person other than the Parties and their respective permitted successors and assigns, nor is anything in this Agreement intended to relieve or discharge any obligation of any third person to any Party or give any third person any right of subrogation or action over or against any Party. 6.i 1 Signature in Counterparts. This Agreement may be signed by the authorized representatives of the Parties in multiple counterpatl originals, each of which shall be deemed to be an original, but all of which together shall constitute one and the same document. 6.12 Entire Agreement. This Agreement includes nine (9) pages that constitute the entire understanding and Agreement of the Partics regarding the subjects addressed in this Agreement. This Agreement integrates all of the terms and conditions mentioned in this Agreement or incidental to this Agreement, and supersedes all negotiations or previous agreements between the Parties with respect to the subjects addressed in this Agreement. 6.13 'Time Declared to be of the Essence. As to the performance of any obligation under this Agreement of which time is a component, the performance of such obligation within the time specified is ofthe essence. 6.14 No Implied or Continuing Waiver. Failure to insist on any one occasion upon strict compliance with any terns, covenant, condition, restriction or agreement contained in this 7 Agreement shall not be deetned a waiver of such term, covenant, condition, restriction or agreement, nor shall any waiver or relinquishment of any rights or powers under this Agreement, at any one time or more times, be deemed a waiver or relinquishment of such right or power at any other time or times. All waivers of the provisions of this Agreement and all amendments to this Agreement must be in writing and signed by the authorized representatives) of both the City and the Agency. [Signatures on the following page] 8 SIGNATURE PACE TO COMMUNITY REMITTANCE FUNDING AGREEMENT CITY OF SAN JACINTO, REDEVELOPMENT AGENCY OF THE a California municipal corporation CITY OF SAN JACINTO a public body, corporate and politic B 'wt C ,(�S t.. t Tim Hults Tim Hults City Manager Executive Director ATTEST: ATTFST: BY= BY: Richard Miller; City Clerk Ric and Miller, Agency Secretary APPROVED AS TO FORM: APPROVED AS TO FORM: Best Best & Krieger LLP Best Best & Krieger, LLP BY _ / ck a,, ---� _ By: i Jef rey S. Ballinger .eteffrey,Balling City Attorney Agency Counsel 9