HomeMy WebLinkAboutMINUTES - 07081986 - 1.79 1-079
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TO: BOARD OF SUPERVISORS
FROM: Phil Batchelor
SUBJECT: Agreement regarding Downtown Danville Redevelopment Project
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SPECIFIC REQUEST(S) OR RECOMMENDATIONS) & BACKGROUND AND JUSTIFICATION
RECOMMENDED ACTION
A. Action of Contra Costa County - Approve and Authorize the Chairman of the
Board of Supervisors to execute on behalf of the County and the County
Library an Agreement with (FCD) Flood Control District and the Danville
Community Development Agency for allocation of tax increment funds in
connection with the proposed Downtown Danville Redevelopment Project.
B. Action of the Board of Supervisors acting as the ex-officio governing body
of the Contra Costa - County Flood Control and Water Conservation District
(FCD) - Approve and Authorize the Chief Engineer to execute an Agreement
with the County, County Library and the Danville Community Development
Agency for allocation of tax increment funds in connection with the
proposed Downtown Danville Redevelopment project.
FINANCIAL IMPACT
The agreement is intended to alleviate financial burden and detriment to the
County, County Library and Flood Control District caused by the proposed
Redevelopment Project. Under the Agreement the County will receive tax
increments equivalent to what it would have received had no project been
adopted. However, there is a temporary deferral of revenues until the project
gets underway.
REASONS FOR RECOMMENDATION/BACKGROUND
The agreement is recommended as being in compliance with California Community
Redevelopment Law. It allows the proposed project go forward without depriving
the County of revenues it would have received had there been no project.
Basic provisions are as follows:
1. The County will defer receipt of the first $1.67 million of net tax
increments to the Agency.
2. The County (also Library and FCD) will the receive it normal
increase in increment based on the annual 2, adjust nt iproperty
tax allowed by Prop. 13.
CONTINUED ON ATTACHMENT: x YES SIGNATURE: .
f
_RECOMMENDATION OF COUNTY ADMINISTRATOR _RECOMM-ENDATIONiDFARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON f APPROVED AS RECOMMENDED_2L_OTHER
VOTE OF SUPERVISORS
�/ I HEREBY CERTIFY THAT THIS IS A TRUE
. UNANIMOUS (ABSENT 713r-_) AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
cc: Community Development ATTESTED y�
PHIL/rPATOELOR, CLERK OF THE
BOARD OF SUPERVISORS AND
COUNTY ADMINISTRATOR
BY DEPUTY
v
BOARD OF SUPERVISORS AGENDA
' , t
AGREEMENT REGARDING DOWNTOWN DANVILLE REDEVELOPMENT PROJECT
JULY 8, 1986
PAGE 2
3. The County will also recieve 10% of all increment generated by the
project except from the Charlotte Wood School site.
4. The Agency will prioritize the development of a new County Library in
Danville.
5. The Agency will assume the cost of construction up to $2.5 million,
with the proceeds of sale of the old library to be contributed to the
new facility.
6. The Agency will limit the total increment to be collected and the
time within which to Agency can incur debt.
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