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HomeMy WebLinkAboutResolution 1999-040 RESOLUTION NO. 1999-040 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ATASCADERO ELECTING TO RECEIVE A PROPORTIONATE SHARE OF PASS-THROUGH TAXES FOR THE ATASCADERO REDEVELOPMENT PROJECT AREA WHEREAS, the Atascadero Redevelopment Agency (the "Agency") has prepared a proposed Redevelopment Plan (the "Redevelopment Plan") for the Atascadero Redevelopment Project (the "Project") which would result in the allocation of taxes from the Project Area to the Agency for the purposes of redevelopment; and, WHEREAS, Section 33607.5 of the California Community Redevelopment Law (Health and Safety Code Section 33300, et seq.) provides that the community which has adopted the redevelopment project may elect to receive a portion of the tax increments received by the agency after the amount required to be deposited in the low and moderate income housing fund has been deducted; and, WHEREAS,the City of Atascadero has prepared a Redevelopment Plan for the Atascadero Redevelopment Project at its meeting on July 6, 1999; and, NOW, THEREFORE,THE CITY COUNCIL OF THE CITY OF ATASCADERO DOES HEREBY RESOLVE to receive twenty-five percent (25%) of all tax increments received by the Atascadero Redevelopment Agency from the Atascadero Redevelopment Project Area or a greater amount as may be permitted by California Community Redevelopment Law. PASSED AND ADOPTED by the Atascadero City Council this sixth day of July, 1999 by the following vote: AYES: Council Members Arrambide, Luna and Mayor Johnson NOES: None ABSENT: Council Member Lerno ABSTAIN: Council Member Clay CITY O TAS ADERO Ray Jo sotil Mayor ATTEST: Marcia McClure Torgerson, City erk Approved as to fo Ro Vlanley, City Atto ey