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HomeMy WebLinkAboutMINUTES - 09201988 - 1.65 THE REDEVELOPMENT AGENCY OF CONTRA COSTA COUNTY, CALIFORNIA Adopted. this order on September 20, 1988, by the following vote: AYES: Commissioners Powers, Fanden, McPeak, Torlakson and Schroder NOES: None ABSENT: None ABSTAIN: None Resolution No. RA-88- 15 SUBJECT: Authorization of Execution of Fiscal Agreement with the Contra Costa County Superintendent of Schools The Contra Costa County Redevelopment Agency RESOLVES THAT: By Ordinance No. 84-30 dated July 10, 1984, the Board of Supervisors of the County of Contra Costa adopted the Redevelopment Plan for Pleasant Hill BART Station Area Redevelopment Project establishing an initial project area (hereinafter, the "Initial Project Area" ) . By Ordinance No. 88-58 dated July 19, 1988, the Board of Supervisors of the County of Contra Costa adopted an Amended and .Restated Redevelopment Plan for the Pleasant Hill BART Station Area Redevelopment Project (hereinafter, the "Amended Plan" ) , .which, among other matters, added territory to the Initial Project Area ( such additional territory is hereinafter referred to as the Amendment Area) . The Amended Plan provides for a continuing program of redevelopment (the "Project" ) within the overall . Project Area (containing both the Initial Project Area and the Amendment Area) . The Amended Plan calls for the division and allocation of tax increment revenue to the Agency pursuant to Health and Safety Code Section 33670. The Contra Costa County Superintendent of Schools (hereinafter the "Superintendent" ) is an "affected taxing entity" within the meaning of Health and Safety Code Section 33353 . 2 in that the Superintendent receives tax revenue upon property located within the Amendment Area. Health and Safety Code Section 33401 and Part VII of the Amended Plan authorize the Agency to make certain payments to any affected taxing agency. Agency staff has prepared a fiscal agreement (hereinafter "Agreement" ) with the Superintendent, which is attached hereto as Attachment 1 and by this reference incorporated herein. The Agreement calls for the Agency to pay to the Superintendent, the portion of tax increment revenue which would have been received by the Superintendent if all of the property tax revenues from the Amendment Area had been allocated to all the affected taxing agencies without regard to the division of taxes pursuant to Health and Safety Code Section 33670 . NOT, THEREFORE, BE IT RESOLVED that the Agency hereby approves the Agreement in substantially the form attached hereto as Attachment 1 and the payments contemplated by the Agreement, -1- RA 88-15 o J and authorizes and directs the Executive Director to execute the Agreement on behalf of the Agency, with such changes therein as the Executive Director may approve, _such approval to be conclusively evidenced by the execution and delivery of the Agreement by the Executive Director. I hereby certify that this Is a true and correct copy of an action taken and entered on the minutes of the Redevefop�ent gency on the date shown. ATTESTED: -J, PH L A'TOHELOR,agency Secretary V By LIDeputy 09/14/88 RES/CSS/B32001' cc: Redevelopment Agency All other distribution via Redevelopment Agency -2- RA 88-15 a ATTACHMENT 1 FISCAL AGREEMENT FOR AMENDED PLEASANT HILL BART STATION AREA REDEVELOPMENT PROJECT (Superintendent of Schools) , This is an Agreement between the Contra Costa County Redevelopment Agency (the "Agency" ), and the Contra Costa County Superintendent of Schools (the "Superintendent" ) , executed as of this day of 1988. RECITALS Each of the parties enters this Agreement . in awareness of the following facts: (a) By Ordinance No. 84-30 dated July 10, 1984, the Board of Supervisors of the County of Contra. Costa adopted the Redevelopment Plan for Pleasant Hill BART Station Area Redevelopment Project (the "Initial Plan" ) establishing an initial project area (the "I`nitial Project Area" ) . (b) By Ordinance No. 88-58 dated July 19, 1988, the Board of Supervisors adopted an .Amended and Restated Redevelopment Plan for the. Pleasant' Hill BART Station Area Redevelopment Project .(the "Amended Plan" ) , which, among other matters, added _1_ territory to the Initial Project Area. The territory added to the Initial Project Area by the Amended Plan is referred to in this Agreement as the "Amendment Area" , and is more specifically described in the attached Exhibit A which is incorporated in this Agreement by this reference. As used in this Agreement, the. term "Project Area" . or "overall Project- Area" means both the. Initial Project Area and the Amendment Area together. (c) The Amended Plan provides for the implementation of a project of redevelopment (the "Project" ) within the Project Area. (d) The Amended Plan provides for "tax increment financing" in that ad valorem taxes . levied on the taxable property within the Amendment Area are to be allocated pursuant to California . Constitution Article XVI , .Section 16 and Health and Safety Code Section 33670. (e) The •Superintendent is a taxing agency with territory located within the Amendment Area. The territory of the Superintendent within the- Amendment Area is subject to the tax increment financing provisions 'of 'the Amended Plan. (f) Health and Safety Code Section 33401(b) provides that the Agency may make payments to an affected taxing agency. (g) In consideration of this Agreement setting forth the obligations of the Agency, the Superintendent is foregoing the right to contest the adoption of the Amended Plan and the addition of the Amendment Area to the overall Project Area. NOW, THEREFORE., . the parties do agree as follows: -2- . , .Section 1 . Definitions. In addition to the terms defined in the Recitals to this Agreement, the terms set forth in this section shall have the following meanings: (a) "Approved Units" means the total number of residential units approved for development in the Amendment Area, from .time to time, by appropriate action of the County of Contra Costa. (b) "Certificate of Occupancy" means a certificate of occupancy issued by the County of Contra Costa with respect to one or more of the Approved Units in accordance with the County' s standards and procedures for the issuance of such certificates. (c) "Fiscal Year" means the period commencing on July 1 and ending on the succeeding June 30. (d) "Occupied Units" means the . total number of Approved Units which have received a Certificate of Occupancy. (e) "Superintendent Pass-Through Amount" means seventy-five. percent (75%) of the .Superintendent Share. (f) "Superintendent Share" means the proportionate amount. of Tax Increment Revenue that the Superintendent would have received if there were no provision in the, Amended Plan for the allocation of Tax Increment Revenue to the Agency. (g) "Tax Increment Revenue" means the property tax revenue allocated to and received by the Agency pursuant to Health and Safety Code Section 33670(b) and Part VII . D. of the Amended Plan attributable to increases in the assessed value of the property .within the Amendment Area above the assessed value of -3 property within the Amendment Area' as shown on the 1987-88 assessment roll (the base year roll for the Amendment Area) . It is expressly understood and agreed that Tax Increment Revenue does not include any amounts payable directly to the affected taxing agencies, including the Superintendent, with respect to the, Amendment_ Area, pursuant to Part VII . D. 3 ) (b) of the Amended Plan.. ._ .; Section 2 . Payments to Superintendent. The Agency shall pay to the _ Superintendent a portion of the Tax Increment Revenue received. by the. Agency as follows: The Approved Units are expected to be constructed in several phases, with Certificates of Occupancy issued for all the Approved Units included within a phase when each phase is completed. Beginning in the Fiscal Year following the Fiscal Year in which a Certificate of Occupancy is issued for the first of the Approved Units and in each succeeding Fiscal Year thereafter until the expiration of the Amended Plan, the Agency shall pay to the Superintendent an amount equal to the Superintendent Pass-Through Amount multiplied by a fraction the numerator of which is the number of Occupied Units and the denominator of which 'is the number of Approved Units. Section 3 . Indebtedness of Agency; •Methodof Payment. The Agency agrees that it will claim the amounts it is obligated to pay to the Superintendent pursuant -to ' Section 2 on its Statement of Indebtedness filed with the County Auditor-Controller pursuant .to Health and Safety Code Section -4- 33675 . To facilitate administration of payments pursuant to this Agreement, the Agency, and the Superintendent agree that in lieu of the County Auditor-Controller making payments to the Agency pursuant to Health and Safety Code Section 33670 and the Agency then making payments pursuant to this Agreement to the Superintendent, the County Auditor-Controller may withhold from the amount to be paid to the Agency pursuant to: Health and Safety Code Section 33670 the amounts to be paid to the Superintendent pursuant to .this Agreement and pay such amounts to the Superintendent directly. At the request of the Agency, the County Auditor=Controller shall send the Agency the supporting information and calculations used to determine the amounts paid to the Superintendent. Beginning in the Fiscal Year in which a Certificate of Occupancy has been issued for one or more Approved Units, and continuing for each Fiscal Year until Certificates of Occupancy have been issued for all Approved Units, the Agency shall each year submit to the County Auditor-Controller a statement: (a) referencing this Agreement;' (b) stating the number of Approved Units; (c) stating the number of Certificates of Occupancy for Approved Units which have been issued; and (d) directing the County Auditor-Controller to make payments to the Superintendent pursuant to Section 2 in the succeeding Fiscal Year. The County Auditor-Controller shall make no payments to. the Superintendent until it has received such statement from the. Agency. -5- Following issuance of Certificates of Occupancy for all Approved Units, the Agency shall so notify the County Auditor Controller and instruct the County Auditor Controller to Y continue to make payments each year pursuant to Section 2 . Section 4. Limitations on. Payments. Notwithstanding any other provision in, this Agreement, no payments shall be made to the Superintendent by the Agency: (a) Which would exceed the amount, annually, that the Superintendent would have otherwise received from property taxes from the Amendment Area had the Amended Plan not been adopted; or (b) The -receipt -of which would cause. the Superintendent to . violate its expenditure limitations under Article XIII-B of the California Constitution; or (c) Which would be contrary to the provisions of Health and Safety Code Section 33401 or violate any other provision of' the Community Redevelopment Law or the laws of the State of California. Any excess amounts under subsections (a) , (b) , or (c) above shall be retained by the Agency for distribution, in the Agency' s sole discretion, to other taxing: entities or for the purposes of paying indebtedness incurred by the Agency in carrying out the Amended Plan. Section 5 . No Payments with Respect to Initial Project Area. Nothing in this Agreement shall be construed to require, and the Agency, shall have no obligation to make, any payments to the Superintendent with respect to any amount of- -tax revenue -6 allocated and paid to the Agency at any time attributable to increases in assessed value of property in the Initial Project Area. Section 6. Subordination. (a) The Agency .may request the Superintendent to subordinate its rights to payment under this Agreement to allow the Agency to pledge all . or any portion of the Tax Increment Revenue otherwise payable to the Superintendent under this Agreement in order to secure repayment of Agency long-term indebtedness incurred for the Project. For the purposes of this Agreement, "long-term" shall mean in excess of five years. The Superintendent agrees to comply with such requests to subordinate and to execute all documents necessary to effectuate such subordination, provided that the Agency first demonstrates, to the reasonable satisfaction of the Superintendent, the Agency' s anticipated ability to : repay such indebtedness incurred for the Project without demand being made on the' payment due the . Superintendent under the terms of this Agreement. Such demonstration by Agency shall show that the subordinate funds will be used in the cash-flow of the financing only for additional security _ (debt service coverage) and that Agency tax , increment funds will be adequate, over the term 'of the indebtedness, to pay 100% of actual debt service on the indebtedness, to pay the Agency' s obligations under this Agreement, and to pay any other obligations of the Agency whether statutory or contractual which are or would be superior -7- to the Agency' s obligations. under this Agreement. Any such demonstration shall include, without limitation, revenue forecasts and debt service schedules. (b) In the event that, as a result of the provisions of this Section 6, the '.payments to "the Superintendent are reduced below the amount otherwise payable to it pursuant to this Agreement, then such reductions shall be treated . as an advance by the Superintendent which shall be repaid by the Agency. The unpaid principal balance thereof shall bear, interest at the rate paid by the State of Califoarnia Local Agency Investment Fund or its successor entity. The advances and accrued interest shall be repaid as promptly as possible, and in any event Agency shall use--all Tax Increment Revenue available to it to repay such advances and accrued interest, . after .payment of principal and interest on the indebtedness to which the subordination applies and payment of any other obligations which are superior, to the Agency' s obligations under this Agreement ( such as the Health and Safety Code Section 33334.2 Housing Set Aside requirement) . Section 7. Increases in Share. (a) The parties recognize that the. Superintendent Share could' be increased by amendment to existing State law. Therefore, it is agreed that, in the event the Agency desires to incur long-term indebtedness to be secured by Tax Increment Revenue, the Agency may project its Tax Increment Revenue and incur such long-term indebtedness based upon the pro rata amount payable to the Superintendent pursuant to this Agreement based -8- upon, State ' law in existence at the time such long-term indebtedness is incurred. (b) In the event State law is amended after the Agency has incurred such long-term indebtedness to increase the amount of the Tax Increment Revenue that would be payable to the Superintendent in accordance with this Agreement, then such additional amount shall be payable to the Superintendent in accordance with this Agreement unless the Agency needs such additional amount to avoid a default or condition of default on such long-term indebtedness or to discharge its statutorily created obligations (such as the Health and Safety Code Section 33334. 2 Housing Set Aside requirement) . The Agency' s obligation to pay such additional amount to the Superintendent shall be subordinate to the Agency' s obligation to pay debt service on its long-term indebtedness and. its statutorily created obligations. (c) In the event .that in any Fiscal Year the subordination provided for in this Section 7 results in a reduction in the amount otherwise payable to the Superintendent pursuant to this Agreement, then such reduction shall be treated as an advance by the Superintendent which shall be repaid by the -Agency. The unpaid principal balance thereof shall bear interest at the rate paid by the State of. California Local Agency Investment Fund or its successor entity. The advances and accrued interest shall be repaid as promptly as possible, and in any event the Agency -9- shall use all Tax Increment Revenue legally available to repay .such advances and accrued interest. Section B. Decrease in Tax Increment Revenue. In the . event that in any Fiscal Year the amount consisting of the total of a) the amount of the Agency' s debt service on long-term indebtedness, plus b) amounts necessary to, discharge the Agency' s statutorily -created- obligations ( such as the Health and 4 . Safety Code Section 33334.2 Housing Set Aside requirement) , plus c) the amounts due under this Agreement exceed the actual amount of Tax Increment Revenue payable to the Agency pursuant to Health and Safety Code Section 33670, then the amount the Agency pays the Superintendent pursuant to this Agreement for that Fiscal Year may be reduced by the amount necessary to pay in full such debt service and such statutorily created obligations. Any such reduction shall be treated as an advance by the Superintendent which shall be repaid by the Agency. The unpaid principal balance thereof shall bear interest at the rate paid by the State of California Local Agency Investment Fund or its successor entity. The advances and accrued interest shall be repaid as promptly as possible, and in any event the Agency shall use all Tax Increment Revenue legally available to repay such advances and accrued interest. -10- Section 9., Planned. Validity. In the event, litigation is initiated attacking the validity of the proposed Amended Plan, the Project or the ordinance adopting the Amended Plan, the provisions of thisAgreement shall remain in full force and effect unless a judgement becomes final which declares the Amended Plan, the Project or the ordinance invalid, in which case this Agreement shall become null and void. Section 10. Elimination of Financial Burden;' No Contest of Plan. The Superintendent acknowledges and agrees that the payments to be made to the superintendent and the actions to be undertaken by the Agency pursuant to this Agreement will effective- ly eliminate any financial burden or detriment that would other- wise be caused by the adoption of the Amended Plan and implements- tion of the Project. In consideration , of such payments and actions, the Superintendent agrees to forego any right or remedy it may have 'in law or equity to contest the preparation, adop- tion, or validity. of the Amended Plan and the implementation of the Project contemplated to be undertaken pursuant to the Amended Plan. The Superintendent further declares its support for the efforts of the Agency. and the County of Contra Costa in connec- tion with the preparation, adoption and implementation of the Amended Plan. Section 11 . Litigation Regarding Agreement. In the event litigation is initiated attacking the validity of this -11- Agreement, each party shall in good faith defend and seek to uphold the Agreement. Section 12 . Entire' Agreement. This Agreement constitutes the entire agreement of the parties with respect- to the subjects covered herein. IN WITNESS WHEREOF, this Agreement is executed as of the date first above written. DISTRICT AGENCY CONTRA COSTA COUNTY CONTRA COSTA COUNTY SUPERINTENDENT OF SCHOOLS REDEVELOPMENT AGENCY By: By: Its: Its: Approved as to form: Victor J. Westman County Counsel By: Deputy 09/15/88 #011C/B32001 -12- EXHIBIT A First Addition to Project. Area Pleasant Hill BART Redevelopment Project All that real property situate in an unincorporated area of Contra Costa County, California, described as follows: References are to Subdivision, Maps filed at the Recorder's Office of said County. All of that portion of "Estrella Rancho" ' reco,rded June 17, 1953 in Map Book 50 at page 48, that lies outside of "Pleasant Hill BART Redevelopment Project" boundary adopted January '31, 1984 by County Board of Supervisors' Resolution # 84/74. And all of Tract No. 539-2 "Estrella Rancho Unit No. 2" filed March 12, 1954 in Map Book 53 at page 15. Beginning at the northeast corner of Lot ,5 (50 M 48); thence along the east line of Lots 5, 4, and 3 (50 M 48) , South. 060 38' ' 56 West 277 feet, to the southeast corner of Lot 3; thence along the south 1ine of Lot 3 and its westerly prolongation; North 830 21' 04" West . 175.37 feet, to the west line of Elena Drive (50 M 48); thence along said west line in a general southerly direction 71 feet, more or less , to. the southeast corner of Lot 6 (50 M 48) being a point on the boundary of "Estrella Rancho thence along said boundary South 850 38' 56" West 37.2 feet, North. 230 20' 34" West 58.51 feet, _North 490 .49' 12" West 64.45. feet; North 590 20' -55" West 211 .3 feet, North 880 09' 35" ' West 94.87 feet, north 840 01' 10 West 99.88 feet, North 730 51' West 49.0.9 feet, North 180 20' 17 West 71 .93 feet, and North 060 37' 20" East 177.48 feet, to the northwest corner of "Estrella Rancho" , being also the southwest corner of "Estrella Rancho - Unit No. 2 (53 M 15)" ; , thence along the boundary of "Estrella Rancho Unit No. 2" , North 060 37- 20" East 268.02 feet, South 890 20' 19 East 753.54 feet, and South 060 38' .56" West 406 feet, to the southwest corner (53 M 15) , being also the point of beginning. Containing 10.37 acres , more or less . LB:sj LB::Uesc .BART 8/04/87 THE REDEVELOPMENT AGENCY OF CONTRA COSTA COUNTY, CALIFORNIA Adopted this order on September 20 1988, by the following vote: AYES: Commissioners Powers, Fanden, McPeak, Torlakson and Schroder NOES: None ABSENT: None ABSTAIN: None Resolution No. RA-88- 4 SUBJECT: Authorization of Execution of Fiscal Agreement , with the Contra Costa County Mosquito Abatement District The Contra Costa County Redevelopment Agency RESOLVES THAT: By Ordinance No. 84-30 dated July 10, 1984, the Board of Supervisors of the County of Contra Costa adopted the Redevelopment Plan for Pleasant Hill BART Station Area Redevelopment Project establishing an initial project area (hereinafter, the "Initial Project Area" ) . By Ordinance No. 88-58 dated July 19, ,11988, the Board =of Supervisors of .the County of Contra Costa adopted an Amended and Restated Redevelopment Plan for the Pleasant Hill BART Station Area Redevelopment Project (hereinafter, the "Amended Plan" ) , which, among other matters, added territory to the Initial Project Area ( such additional territory is hereinafter referred to as the Amendment_Area) . The Amended Plan provides for a continuing program of redevelopment (the "Project" ) within the overall Project Area (containing both the Initial Project Area and the Amendment Area) . The Amended Plan calls for the division and allocation of tax increment revenue to the Agency pursuant to Health and Safety Code Section 33670. The Contra Costa County Mosquito Abatement District (hereinafter the "District" ) is an "affected taxing entity" within the meaning of Health and Safety Code Section 33353 . 2 in that the District receives tax revenue upon property located within the Amendment Area. Health and Safety Code Section 33401 and Part VII of the Amended Plan authorize the Agency to make certain payments to any affected taxing agency. Agency staff has prepared a fiscal agreement (hereinafter "Agreement" ) with the District, which is attached hereto as Attachment 1 and by this reference incorporated herein. The Agreement calls for the Agency to pay to the District the portion of tax increment revenue which would have been received by the District if all of the property tax revenues from the Amendment Area had been allocated to all the affected taxing agencies without regard to the division of taxes pursuant to Health and Safety Code Section 33670. NOT, THEREFORE,, BE IT RESOLVED that the Agency hereby approves the Agreement in substantially the form attached hereto as Attachment 1 and the payments contemplated by the Agreement, and authorizes and directs ..,the Executive Director to execute -1- RA 88-114, V' the Agreement on behalf of the Agency, with such changes therein as the Executive Director may approve, such approval to be conclusively evidenced by the execution and delivery of the Agreement by the Executive Director. I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Redevelopment Agency on the date shown.C� ATTESTED: ig /-r- "'�`- PHIL CHEL®R,Agency Secretary 0 By Deputy 09/14/88 RES/MOS/B32001 cc: Redevelopment Agency Distribution via Redevelopment Agency -2- RA 88-14 ATTACHMENT 1 FISCAL AGREEMENT FOR AMENDED PLEASANT HILL BART STATION AREA REDEVELOPMENT PROJECT (Mosquito Abatement District) This is an Agreement between the Contra Costa County Redevelopment Agency (the "Agency" ) , and the Contra Costa County Mosquito Abatement District (the "District" ) , executed as of this day. of ,. 1988. RECITALS Each of -the parties enters this Agreement in awareness of .the following facts: (a) By Ordinance No. 84-30 dated July 10, 1984, the Board of Supervisors of the County of Contra Costa adopted the Redevelopment Plan for Pleasant Hill BART Station Area Redevelopment Project (the "Initial Plan" ) establishing an initial project area (the "Initial Project Area" ) . (b) By Ordinance No. 88-58 dated July 12, 1988, the Board of Supervisors adopted an Amended and Restated Redevelopment Plan for Pleasant- Hill BART Station Area Redevelopment Project (the "Amended Plan" ) , which, among other matters, added territory to the Initial Project Area. The territory added to -1- the Initial Project Area by the Amended Plan is referred to in this Agreement as the "Amendment ,Area" , and is more specifically described in the attached Exhibit A which is incorporated in this Agreement by- this reference. As used in this Agreement, the term "Project. Area" or "overall Project Area" means both the Initial Project Area and. the Amendment Area together. (c) The Amended Plan provides for the implementation of a project of redevelopment. (the "Project" ) within the Project Area. (d)- The Amended Plan provides for "tax increment financing" in that ad valorem taxes levied on the taxable property within the Amendment Area are tolbe allocated pursuant to California Constitution Article XVI, Section 16 .and Health and Safety Code Section 33670. (e) The District is a taxing agency with. territory located within the Amendment Area. The territory of the District within the Amendment Area . is subject to the tax increment financing provisions of the Amended Plan. (f) Health and Safety Code Section 33401(b) provides that the Agency may make certain payments to an affected taxing agency. (g) In consideration of this Agreement setting forth the obligations of the Agency, the District is foregoing the right to contest the adoption of the Amended Plan and .the addition of the Amendment Area to the overall Project Area. NOW, THEREFORE, the parties do agree as follows: -2 Section 1. Definitions. In addition to the terms defined in the Recitals to this Agreement, the terms set forth in this section shall have the following meanings: (a) "Tax Increment Revenue" means .the property tax revenue allocated to and received by the' Agency"`pursuant to Health and Safety Code Section 33670(b) and Part VII : D. of the Amended Plan attributable to increases in the assessed value of the property within the Amendment Area above the assessed value of property within the Amendment Area as shown on the 1987-88 assessment roll . (,the base year roll for the Amendment Area) . It is ,expressly understood and agreed that Tax Increment Revenue does not include any amounts payable directly to the affected taxing agencies, including the District, with respect to the Amendment`Area pursuant to Part VII . D. 3) (b) of the Amended Plana (b) "District Share" means the proportionate amount of Tax _ . Increment Revenue that the District would have received if there were no provision an the Amended Plan for the allocation of Tax Increment Revenue to the Agency. (c) "Fiscal Year" means the period commencing on July 1 and ending on the succeeding June 30. Section 2 . Payments to District. The Agency shall pay to the District a portion of the Tax Increment Revenue received by the Agency as follows:, -3- Beginning in Fiscal _•Year 1989-90 and continuing until• the expiration of the Amended Plan, the Agency shall pay to the District the District Share. Section 3 . Indebtedness of Agency; Method of Payment. The Agency agrees that it. will claim the amounts it is obligated to pay to the District pursuant to Section 2 on its Statement of Indebtedness filed with -the -County Auditor-Controller pursuant to Health and Safety Code Section 33675 . To .facilitate administration of payments pursuant to this Agreement, the Agency and the District agree that in lieu of the County Auditor-Controller making payments: to the -Agency pursuant to Health and Safety Code Section 33670 and the Agency then making payments pursuant to. this Agreement to the District, the County Auditor-Controller may withhold from the amount to be paid to the Agency pursuant to Health and Safety Code Section 33670 the amounts to be paid to the District pursuant to this Agreement and pay such amounts to the District directly. At the: •; request of the Agency, the County Auditor-Controller shall send the Agency the supporting information . and calculations used to determine the amounts paid to the District. Section 4. Limitations on Payments. Notwithstanding any other provision in this Agreement, no payments shall be made to the District by the Agency: (a) Which would exceed the amount, annually, that the District would 'have otherwise received from property taxes from the Amendment Area had the Amended Plan not been adopted; or -4- i (b) The receipt of which would cause the District to violate its expenditure limitations under *Article XIII-B of the California Constitution; or (c). Which would be contrary to the. provisions of Health and Safety Code Section 33401 or violate any other provision of the Community Redevelopment Law or the laws .of. the State of California: Any excess amounts undersubsections (a) , (b) , or (c) above shall be retained by the Agency for distribution, . in the Agency' s sole discretion, to- other taxing entities or for the purposes of paying indebtedness incurred by the Agency in carrying out the Amended Plan. Section 5 . No Payments with Respect to Initial Project Area. Nothing in. this Agreement shall be construed to require, and the Agency shall have no obligation to make, any payments to the District with respect to any amount of tax revenue allocated and paid to the Agency at any time attributable to . increases in assessed value of 'property in the Initial Project Area. Section 6. Subordination. (a) The Agency may" request the District to subordinate its rights to .payment under this Agreement to allow the Agency to pledge all or any portion of the Tax Increment Revenue otherwise payable to the District under this Agreement in order to secure repayment of Agency long-term indebtedness incurred for the , Project. For the purposes of this Agreement, "long-term" shall mean in excess of five years. The District agrees to comply -5- with such requeststo subordinate and to execute all documents necessary. to effectuate such subordination, provided that the Agency first demonstrates, to the reasonable satisfaction of the District, the Agency' s- anticipated ability to . repay such indebtedness incurred for the Project without demand being made on 'the payment due the District under the terms of this Agreement. Such demonstration by Agency shall show that the' subordinate funds will be used in the .cash-flow of the financing only for additional security (debt service .coverage) and that Agency tax increment funds- will be adequate, over the term of the indebtedness, to pay 100% of . actualidebt service on the indebtedness, to pay the Agency' s obligations under this Agreement, and to pay any other obligations of the Agency; whether statutory or contractual which are or would be superior to the Agency' s obligations under this .Agreement. Any such demonstration shall include, without limitation,- revenue forecasts and debt service schedules. . (b) In the event that, as a result of the provisions of this Section 6, the payments to the District are reduced below the amount otherwise payable to it pursuant to this Agreement, then such reductions shall be treated as an advance by the District which shall , be repaid by the Agency. The unpaid principal balance thereof shall bear interest at the rate paid by the State of California Local Agency Investment Fund or its successor entity. The advances and accrued interest shall be repaid as promptly as possible, and in any event Agency shall -6- t use all Tax Increment Revenue available to it to repay such advancesand accrued interest, after 'payment •of principal and interest on the indebtedness to which the subordination applies and payment of any other obligations which are superior to the Agency' s obligations under this Agreement (such as the Health and Safety Code Section 33334.2 Housing Set Aside requirement) . Section 7 . Increases in Share. (a) The parties recognize .that the District Share could be increased by amendment to existing State law. Therefore, it is,. agreed that, in the event the Agency desires to incur long-term indebtedness to be secured by Tax Increment Revenue, the Agency may project its Tax Increment Revenue and incur such long-term indebtedness based upon the pro rata amount payable to the District pursuant to this Agreement based upon State law in existence at the time such long-term indebtedness is incurred. (b) In the event State law is amended .after the Agency has incurred such long-term indebtedness to increase the amount of the Tax Increment Revenue that would be payable to the District in accordance with this. Agreement, then such additional amount shall be payable to the District in accordance with this Agreement. unless the Agency needs such additional amount to avoid a default or condition of default on such long-term indebtedness or to discharge its statutorily created obligations ( such as the Health and Safety Code Section 3.3334.2 Housing. Set Aside requirement) . The Agency' s obligation to, pay such additional amount .to the District shall be subordinate to the -7- j. . Agency' s obligation to pay debt service on its long-term indebtedness and its statutorily created obligations. (c) In the event that in any Fiscal Year the subordination provided for in this Section 7 results- in a reduction in the amount otherwise payable to the District pursuant to this Agreement, then such . reduction shall be treated as an advance by the District which shall be repaid by the Agency. The unpaid principal balance thereof shall bear interest at. the rate paid by the State of California Local Agency Investment Fund or its successor entity. The advances and accrued interest shall be repaid . as promptly as possible, and in any event the Agency shall use all Tax Increment Revenue legally available to repay such advances and accrued interest. Section 8. Decrease in Tax Increment Revenue. In the event that in any : Fiscal Year' the amount consisting of the total of a) .the amount of the Agency' s debt service 'on long-term indebtedness, plus b) amounts necessary to. discharge the Agency' s statutorily created obligations ( such as the Health and Safety Code Section 33334.2 Housing Set Aside requirement) , plus c) the amounts due under this Agreement exceed the actual amount of Tax Increment Revenue payable to the -Agency pursuant to Health and Safety Code Section 33670, then the amount the Agency pays the District pursuant to this Agreement for that Fiscal Year may be reduced by the amount necessary to pay in full such debt service and such statutorily created obligations. Any such reduction shall be treated as an advance by the District which -8- shall be repaid by the Agency. The unpaid principal balance thereof shall bear interest at the rate paid by the State of California Local Agency Investment Fund or its successor entity. The advances and accrued interest shall be repaid as promptly as .possible, and in any event the Agency shall use all Tax Increment Revenue legally available to repay such advances and accrued interest. Section 9. Plan Validity. In the event litigation is, initiated attacking the validity of the proposed Amended Plan, ., the Project or the ordinance adopting the Amended Plan, the provisions of this Agreement shall remain in full force and effect unless a., judgment becomes final which declares the Amended Plan, 'the Project or the ordinance invalid, in which case this Agreement shall become null and void. Section 10. Elimination of Financial Burden; No Contest of Plan. The District- acknowledges and agrees that the payments to be made to the District and the actions to be undertaken by the Agency pursuant to this Agreement will. effectively eliminate , any financial burden or detriment that would otherwise be caused by the adoption of the Amended Plan and implementation of the Project. In consideration of such payments and actions, the District agrees to forego any right or remedy it may have in law or equity to contest the preparation, adoption, or validity of the Amended Plan and the implementation of the Project contemplated to be undertaken pursuant to the Amended Plan. The District further declares its support for the efforts of the -9- Agency and the County of Contra Costs in connection with the preparation, adoption and implementation of the Amended Plan. Section 11 . Litigation Regarding Agreement. In the event litigation is initiated attacking the validity of this Agreement, each party .shall. in good faith defend and seek to uphold the Agreement. Section 12 . Entire Agreement. This Agreement constitutes the entire agreement of the parties with respect to the subjects covered herein. IN WITNESS WHEREOF, this Agreement is executed as of the date first above written. DISTRICT AGENCY CONTRA COSTA COUNTY MOSQUITO CONTRA COSTA COUNTY ABATEMENT DISTRICT REDEVELOPMENT AGENCY By. By: Its: Its: Approved as to form: Victor J. Westman County Counsel By: Deputy #011B/B32001 -10- ` \ EXHIBIT A First Addition to Project Area Pleasant Hill BART Redevelopment Project All thatreal property situato in an unincorporated area of Contra Costa County, California , described -as follows: References are to Subdivision Maps filed at the Recorder's Office of said County. All of that portion of "Estrella Rancho" recorded June 17, 1953 in Map Book 50 at page 48, that lies outside of "Pleasant Hill BART Redevelopment Project" boundary adopted January 31, 1984 by County Board of. Supervisors' Resolution # 84/74. And all of Tract No. 539-2 "Estrella Rancho - Unit No. 2" filed March 12, 1954 in Map Book 53 at page 15. Beginning at the northeast corner of Lot 5 . (50 M 48); thence along, the east line of Lots 5, 4, and 3 (50 M 48) , South 060 38' 56" West 277 feet, to the southeast corner of Lot 3; thence along the south line of Lot 3 and its westerly prolongation, North 830 21' 04" West 175.37 feet, to the west line of Elena Drive (50 M.48.); thence along said west line in a general southerly direction 71 feet, more or less,- to the southeast corner of Lot 6 (50 M 48) being a point on the boundary of "Estrella Rancho" ; thence along said boundary South 850 38' 56" West 37.2 feet, North 230 20' 34" 'Test 58.51 feet, North 490 49' 12" West 64.45 feet, North 590 20' 55"West 211 .3 feet, North 880 09' 35" West 94.87 feet, north 840 01' 10" West 99.88 feet, North 730 51' West 49.09 feet, North 180 20' 17" West 71 .93 feet, and North 060 37' 20" East 177.48 feet, to the northwest corner of "Estrella Ranchu" , being also the southwest corner. of "Estrella Rancho - Unit No. 2 (53 M Is)" - thence along the boundary of "Estrella Rancho - Unit No. 2" , North 060 37' 20" East 268.02 feet, South 890 20' 19" East 753.54 feet, and South 060 38' 56" West 406 feet, to the southwest corner (53 M 15) , being' also the point of beginning. Containing- 10.37 acres , more or less . LB:sj LB:Uesc.BART 8/04/87 O ORDINANCE NO. 88- 76 (Repealing Chapter 55-2 relating to Beverage Container Recycling) The Contra Costa County Board of Supervisors ordains as follows (omitting the parenthetical footnotes from the official text of the enacted or amended provisions of the County Ordinance Code): SECTION I: SUMMARY. This ordinance repeals Chapter 55-2 Wine and Spirit Cooler Containers of the County Ordinance Code effective as of January 1 , 1989, because the Chapter has been preempted by Chapter 170 of the Statutes of 1988. SECTION II : Chapter 55-2 of the County Ordinance Code is repealed effective January 1, 1989. (Ord. 88-17) SECTION III: EFFECTIVE DATE. This ordinance becomes effective 30 days after passage, and within 15 days of passage shall be published once with the names of the supervisors voting for and against it in the Contra Costa Times a newspaper published in this County. PASSED ON Sept. 20, 1988 by the following vote: AYES: Supervisors Powers, Fanden, McPeak, Torlakson, Schroder. NOES: None . ABSENT: None . ABSTAIN: None . ATTEST: PHIL BATCHELOR, Clerk of the Board and County Administrator By a"Zztl�� Board Chair [SEAL] VJW:E (August 24, 1988) ORDINANCE NO. 88- 76