HomeMy WebLinkAboutMINUTES - 07242007 - C.46 TO: BOARD OF SUPERVISORS •;
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FROM: John Cullen County Administrator 0vs
County
DATE: July 24, 2007 �S>�� ���n��
C. . %tl.
SUBJECT: Second Amendment to Master Property Tax Exchange Agreement Between Contra
Costa County and the City of San Ramon
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
1. APPROVE attached Resolution 2007/370 amending the Master Property Tax Exchange
Agreement between the County of Contra Costa and the City of San Ramon, and;
2. AUTHORIZE and APPROVE the Chair, Board of Supervisors, to execute the attached
Amendment for Allocation of Tax Revenues Between the County of Contra Costa and the '
City of San Ramon for the City Center Project.
FISCAL IMPACT:
This second amendment to Resolution 86/305 will aid in constructing parking structures that are
necessary to serve proposed residential/retail/office/government properties in the proposed City
Center project. The City Center Project will result in an increase in assessed value and Contra Costa
County's ad-valorem property tax revenue of approximately $718,000 annually over current revenue
for a 25 year period and approximately $1.45 million thereafter.
BACKGROUND:
The City of San Ramon is requesting to amend the property, sales, and transient occupancy tax
agreement on three parcels in the Bishop Ranch Area in order to finance four to five parking
structures. The three parcels are APN 213-133-086; 213-120-013, and; 213-133-063 and involve
approximately 40 acres. The City anticipates the City Center Project will include 600,000 square feet
of retail; 400-450 residential units; a 100-200 room hotel, and; 700 square feet of office space. In
addition, a new City Hall and Library will be built.
CONTINUED ON ATTACHMENT: x YES SIGNATU '
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF MMITTEE
APPROVE OTHER
SIGNATURES : /
A"
ACTION OF B06/0 N Q 'tel{ /b – APPROVED AS RECOMMENDED _ L<, OTHER
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT
COPY OF AN ACTION TAKEN AND ENTERED ON MINUTES OF
THE BOARD OF SUPERVISORS ON THE DATE SHOWN.
UNANIMOUS(ABSENT )
AYES: NOES:
ABSENT: ABSTAIN:
Contact: Rich Seithel(335-1024) —y
cc: Auditor-Controller ATTESTED
County Administration JOHN CULLEN,CLERK OF THE BOARD OFSUPERVISORS
City of San Ramon
County Counsel
B DEPUTY
Currently, the City share of property tax is approximately $23,000 and the County's share is
approximately $23,000. The City's ad-valorem property tax share is approximately 10.2% and the
County's is 10.4%. According to the existing agreement, the County may receive up to 100% of the
City's share of property taxes through an agreed upon sales and transient occupancy tax exchange.
The amendment will suspend this transfer. The County will continue receiving the current transfer of
approximately $23,000 with annual 2% adjustments. In addition to the $23,000 plus 2% annually, the
County will also benefit from the increased assessed valuation that will result in projected property tax
revenue of approximately $718,000 (the County's 10.4% ad-valorem share). After 25 years, the
suspension will be lifted and the County will receive up to 100% of both the City and County share of
ad-valorem property tax.
The need to amend the current agreement stems from the lack of parking space. Due to this lack of
space, the City needs to finance four to five parking garages. The amendment will help the City
finance these parking structures. Basically, the proposed amendment's intention is that the County
will continue to receive its share of the property tax while allowing the City to leverage their share of
the property tax for a 25 year period. The City adopted Resolution Number 2007-128 agreeing to the
second amendment to the Master Property Tax Exchange on July 10, 2007. Attached are:
A. Contra Costa County Resolution 2007/370;
B. Copy of City of San Ramon's Resolution Number 2007-128, and;
C. Second Amendment Agreement with City of San Ramon's signatures (including as exhibits in
the Second Amendment are: the original Master Agreement 86/305; the first Amendment
Agreement, and a map of the three parcels).
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Resolution on July 24, 2007 by the following vote: ss L
AYES: at o I A , (,t 1 LK G^A , -gul l lLLLLA trTLOl.1�l�$ ►°[EYf!O
NOES: x - —;;rYE ?z
ABSENT: — '`'
STS`COUK
ABSTAIN: —
SUBJECT: Second Amendment to Master Property Tax Resolution No. 2007/370
Exchange Agreement for Allocation of Property
Tax between the County of Contra Costa and
City of San Ramon Upon Annexations
WHEREAS, effective June 3, 1986, pursuant to County Resolution 86/305 and City of San
Ramon Resolution 86-57, County and City entered into the Master Property Tax Exchange Agreement
for Allocation of Property Tax Between the County of Contra Costa and City of San Ramon Upon
Annexations (as amended by the first amendment thereto, the "Master Agreement"), which governs
the administration of property, sales, and transient occupancy taxes for the Bishop Ranch annexation-,
and
WHEREAS, City and County have agreed to amend the Master Agreement for a period of
twenty-five years in order to aid City in the development of parking structures that will serve its City
Center Project to be constructed in Bishop Ranch.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF CONTRA
COSTA COUNTY that City's portion of property taxes for Assessor Parcel Nos. 213-133-086; 213-
120-013, and 213-133-063 shall not be reduced as set forth in the Master Agreement but shall be
apportioned pursuant to the Second Amendment to Master Property Tax Exchange Agreement For
Allocation Of Property Tax Between The County of Contra Costa and The City of San Ramon Upon
Annexations.
I hereby certify that.this is a true and correct copy of an action taken
and entered on the minutes of the Board of Supervisors on the date
shown
ATTESTED: ptI 2007
John Cullen, Clerk of the Board of Supervisors
And County2A strator
By Deputy
Contact: Rich Seithel, CAO
cc: Auditor-Controller—Attn: Sue Turner
County Counsel
RESOLUTION 2007/370 �' t
RESOLUTION NO. 2007-128
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON
AUTHORIZING THE MAYOR TO APPROVE THE SECOND AMENDMENT TO
THE MASTER PROPERTY TAX EXCHANGE AGREEMENT FOR
ALLOCATION OF PROPERTY TAX BETWEEN THE
COUNTY OF CONTRA COSTA AND THE CITY OF SAN RAMON UPON
ANNEXATIONS (APNs: 213-133-086, 213-133-063, and 213-120-013)
WHEREAS, on June 3, 1986, in connection with City's annexation of what is now
known as Bishop Ranch (LAFCO Nos. 87-58 and 87-60), County and City entered into
that certain Master Property Tax Exchange Agreement for Allocation of Property Tax
between the County Of Contra Costa and the City of San Ramon Upon Annexations
pursuant to duly adopted resolutions, and
WHEREAS, effective December 1, 1987, County and City entered into that certain
Amendment to Master Property Tax Exchange Agreement for Allocation of Property Tax
between the County Of Contra Costa and the City of San Ramon Upon Annexations (the
"First Amendment"), amending the Master Agreement, pursuant to duly adopted
resolutions, and
WHEREAS, City now desires to promote the development of a City Center project
in Bishop Ranch which will include approximately 650,000 square feet of retail space,
450-500 residential units, a 170 room hotel, 700,000 square feet of office space and a San
Ramon City Hall and library (the "City Center Project"), on the Excluded Parcels (as
such term is defined below). In order to finance the four or five parking structures
necessitated by the City Center Project, City requires additional financing, and
WHEREAS, the development of the City Center Project will result in two tax
exempt parcels currently owned by City (Assessor Parcel Nos. 213-133-086 and 213-120-
013), being returned to the tax roll and a substantial increase in the assessed value of a
third parcel (APN 213-133-063), and
WHEREAS, City has proposed and County has agreed to a Second Amendment to
the Master Agreement temporarily revise the Master Agreement in order to facilitate the
development of the City Center Project parking structures.
NOW, THEREFORE BE IT RESOLVED, that the City Council of the City of
San Ramon approves the Second Amendment to the Master Agreement and authorizes the
Mayor to execute the Second Amendment (attached hereto as Exhibit 1).
Signatures on tlae following page
PASSED, APPROVED, AND ADOPTED on this 101h day of July 2007 by the
following vote:
AYES: ,,rvySOJ
NOES:
ABSENT:
ABSTAIN:
H. Abram Wilson, Mayor
ATTEST:
Patricia Edwards, City Clerk
Exhibit 1: Second Amendment to the Master Property Tax Exchange Agreement for
Allocation of Property Tax Between the County of Contra Costa and
the City of San Ramon Upon Annexations
Page 2 of 2
SECOND AMENDMENT TO THE
MASTER PROPERTY TAX EXCHANGE AGREEMENT FOR
ALLOCATION OF PROPERTY TAX BETWEEN THE
COUNTY OF CONTRA COSTA AND THE
CITY OF SAN RAMON UPON ANNEXATIONS
This Second Amendment to Master Property Tax Exchange Agreement for
Allocation of Property Tax between the County Of Contra Costa and the City of San
Ramon Upon Annexations (this "Second Amendment") is entered into as of this 24th day
of July, 2007, by and between Contra Costa County ("County") and the City of San
Ramon ("City"), pursuant to Resolution No. 2007/370, adopted by the Board of
Supervisors of County and Resolution No. 2007-128, adopted by the City Council of City.
WHEREAS, on June 3, 1986, in connection with City's annexation of what is now
known as Bishop Ranch (LAFCO Nos. 87-58 and 87-60), County and City entered into
that certain Master Property Tax Exchange Agreement for Allocation.of Property Tax
between the County Of Contra Costa and the City of San Ramon Upon Annexations
(attached hereto as Exhibit A, as amended by the First Amendment, the "Master
Agreement"), pursuant to duly adopted resolutions, and
WHEREAS, effective December 1, 1987, County and City entered into that certain
Amendment to Master Property Tax Exchange Agreement for Allocation of Property Tax
between the County Of Contra Costa and the City of San Ramon Upon Annexations (the
"First Amendment"), amending the Master Agreement, pursuant to duly adopted
resolutions, and
WHEREAS, City now desires to promote the development of.a City Center project
in Bishop Ranch which will include approximately 650,000 square feet of retail space,
450-500 residential units, a 170 room hotel, 700,000 square feet of office space and a San
Ramon City Hall and library (the "City Center Project"), on the Excluded Parcels (as
such term is defined below). In order to finance the four or five parking structures
necessitated by the City Center Project, City requires additional financing, and
WHEREAS, the development of the City Center Project will result in two tax
exempt parcels currently owned by City (Assessor Parcel Nos. 213-133-086 and 213-120-
013), being returned to the tax roll and a substantial increase in the assessed value of a
third parcel(APN 213-133-063), and
WHEREAS, City has proposed and County has agreed to temporarily revise the
Master Agreement in order to facilitate the development of the City Center Project parking
structures.
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, County and City hereby agree as follows:
A. Property Tax Revenues.
The following sections shall be added to the Master Aareement immediately
following Section 4(j):
1. "k. (i) For a temporary period of time commencing no earlier than
County fiscal year 2010-2011 and no later than County fiscal
year 2011-2012, and ending on June 30 of the County fiscal year
that is twenty-five (25) years thereafter, which shall in no event
be later than County fiscal year 2036-2037 (such period of time,
the "Modification Period"), Assessor Parcel Nos. 213-133-086,
213-120-013 and 21.3-133-063 (as described in Exhibit B
attached hereto, the "Excluded Parcels"), shall be excluded
from the provisions of Sections 4(g) and 4(h) hereof and the
property tax revenues received by City that are derived from the
Excluded Parcels shall not be subject to reduction as provided in
Sections 4(g) and 4(h).
(ii) It is intended that the Modification Period begin in County fiscal
year 2010-2011 and end in County fiscal year 2035-2036.
However, if and only if County receives notice from City no
later than November 1, 2009 that the City Center Project has
been delayed and that it is thereby requesting that the
Modification Period begin in County fiscal year 2011-2012 (the
"Extension Notice"), then upon County's receipt of the
Extension Notice, the Modification Period shall begin in County
fiscal year 2011-2012 and end in County fiscal year 2036-2037.
(iii) City shall provide the Extension Notice to each of the County
departments set forth below via registered mail, return receipt
requested or via. a nationally recognized overnight courier.
Failure to comply with the notice procedures set forth herein
shall render the Extension Notice ineffective.
Contra Costa County Auditor-Controller
Attn: Auditor Controller
625 Court Street
Martinez, CA 94553
Contra Costa County Administrator's Office
Attn: County Administrator
651 Pine Street, 101h Floor
Martinez, CA 94553
Contra Costa County Counsel's Office
651 Pine Street, 91h Floor
Martinez, CA 94553"
PaL,e 2 of 6
2. 'T Notwithstanding anything in this Agreement to the contrary, on an
annual basis during the Modification Period, the total amount of
property tax revenues City is to receive from County in any tax year
pursuant to the foregoing provisions from the Excluded Parcels shall
be reduced by Twenty-Four Thousand Seven Hundred Forty-Five
Dollars and No/100ths ($24,745.00). The foregoing amount of
property taxes that is to be retained by County shall be increased by
two-percent (2%) annually during the Modification Period."
3. "m. As set forth in Sections 4(k) and 4(1), the provisions therein are
temporary and only effective during the Modification Period. Upon
the termination of the Modification Period, the Excluded Parcels shall
be subject to the provisions of Sections 4(g) and 4(h) and Sections
4(k) and 4(l) shall no longer be operative or effective."
B. Automatic Termination.
1. As set forth in the recitals above, the purpose of this Second Amendment
is to assist in the development of the City Center Project and not for any other
purpose. Accordingly, this Second Amendment shall automatically terminate
as set forth below unless City provides notice to County that either:
a. In the event County has not received the Extension Notice pursuant
to Section A(1) above, then City shall provide notice to County no later than
November 1, 2009 that the Excluded Parcels are owned by Sunset Development
Company and that the City Center Project is under construction or will begin
construction within six months of the date of the notice (the "Project
Commencement Notice"). In the event County has not received either- the
Extension Notice or the Project Commencement Notice by November 1, 2009,
this Second Amendment shall automatically terminate on November 2, 2009
pursuant to this section and Sections 4(k), (1) and (m) shall be automatically
deleted from the Master Agreement in their entirety and the amendments made
to the Master Agreement by this Second Amendment will be considered null
and void ab initio; or
b. In the event County has received the Extension Notice as required
by Section A(1) above, then City shall provide the Project Commencement
Notice to County no later than November 1, 201.0. In the event County does
not receive the Project Commencement Notice by November 1, 2010, this
Second Amendment shall automatically terminate on November 2, 2010
pursuant to this section and Sections 4(k), (1) and (m) shall be automatically
deleted from the Master Agreement in their entirety and the amendments made
to the Master- Agreement by this Second Amendment will be considered null
and void ab uriti.o.
Page 3 of 6
2. The Project Commencement Notice shall be provided to County by City
in the same manner and to the same County addressees as set forth in Section
A(1) above and such notice shall be ineffective if otherwise provided.
C. Miscellaneous.
1. Exhibits A and B attached hereto and referenced herein are deemed
incorporated herein and are made a part hereof. To the extent any provision of this Second
Amendment conflicts with any provision set forth in the Master Agreement, this Second
Amendment shall control.
2. This Second Amendment and the attachments constitute the entire
agreement between the parties hereto relating to the subject matter of this Second
Amendment.
IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment
to be executed as of the date first set forth above.
COUNTY C TRA COSTA, a political Approved as to Form:
Subdivisi of th tate of California Silvano B. Marchesi, County Counsel
y. B y. �..
Mary o,Chairperson of Eric S. elston.
oard of Supervisors Deputy County Counsel
ATTEST: Clerk of the Board of Supervisors
Depu
CITY OF SAN RAMON,
a Municipal Corporation Approved as to Form:
B Jlw�- B L � L"
Abram Wilson, Mayor of the �Byr n Athan, Attorney for
City of San Ramon Cit of San Ramon
Attest:
B
Patricia Edwards, Clerk of
the City of San Ramon
Paae 4 of 6
EXHIBIT A-
Master Agreement
i
i
5 of 6
f i`MSTER PROPERTY TAX EXCHANGE AGREEMEN'!' FOR ALLOCATION OF
PROPERTY TAX BETIYEEN `HE COUNTY OF CONTRA COSTA AND
CITY OF SAN RANION UPON ANNEXATIONS
(R.&T.C. 599 ( d ) )
i3y Resolution 86 /305__ , adopted by the Board of Supervisors of
the County of Contra Costa , and by Resolution _86_57_-, adopted by
the City Council of the City of San Ramon , the (;ou of Contra
Costa (County ) and the City of San Ramon (City ) agree as follows :
1 . The parties hereto wish to avoid the expense and delay of
negotiating a property tax exchange agreement for each annexation
to the City and to avoid the uncertai nt i es of whether agreements
can be reached in time to allow order 1y , planned development .
Accordingly , the parties intend that., notwithstanding any future
changes in the law governing property tax exchange agreements , this
master property tax exchange agreement , . under authority of Revenue
and Taxation Code 599 (d ) , shall bind the County and the City for
the purpose of specifying the allocation of property tax revenues
between the County and the City for all annexations to the City
which are completed from the effective date of this Agreement
until termination as set forth in Paragraph 2 herein .
2 . This Agreement shall continue until terminated by mutual
consent of the parties ; provided , however., than any annexations
completed prior to termination of this Agreement small continue to
be subject to the allocation of property taxes established by this
Agreement .
3 . The definitions of California Revenue & Taxation Code 595
and Government Code 5556010-56081 shnII apply Herein . The
following additional definitions shall apply :
a . "Base tax" shall mean the total amount of property
tax revenues subject to allocation under it.&T.C .
5597 (a ) and (b ) , which are generated in the territory
to be annexed . Notwithstanding the foregoing, base
tax shall not include any property tai: revenues
al located to any County free I ibra ry or any amoun is
generated by the increased assessments under Chapter
3 . 5 of Part 0. 5 of Division 1 of the Revenue and
Taxa t i on Code (coarnenc i ng wi th 575 ) .
b . "Annua I tax increment " sha l 1 meati the tote I amoun t of
property tax revenues subject to allocation under
R .&T.C . 5597 ( c ) and 98 , wKich are generated in the
territory to be annexed .
c . "Tax year " shall mean the annual period from July I
through the succeeding June 30 .
d . "Dissolved County Service Area " shall menn the pact
of a County Service Area whinh is dissolved upon
annexation of territory of the Service Area to the
City .
e . Bishop Ranch Development means the territory
described on the map attached as Exhibit A leer e to ,
being approximately 585 acres .
4 . For each tax, year of ter the--ca I War year i n w.11_i- h an
annexation of t e r r i tory ofli^l :pl�w;_ n D eqopnetyt s
completed , the City shall receive a total of l ) n I I the Base Tai:
to which any dissolved County Service Areas would be entitled and
13 . 8`k; of the Base Tar, to which the County would be c n t i tied , wi t11
the County receiving I he remainder and 2 ) cell the Annum Ax
svIncrement to which any dissolved County .Service Areas would be
c-
entitled and 29 . 8% of the Annual Tax increment to which the County
would be entitled , with the County receiving the remainder ; pro-
vided , however , that such totiil amount to be received by City
shall be reduced by an amount equal to 50% of the sum of the sales
tax revenue and transient occupancy tax revenue received by t he
City during the preceding tax year from the territory to be
annexed . Any such reduction , however , shall not result in a
" negative transfer" , i .e . , a net transfer from City to County ..
The total . amount of transient occupancy tax and sales tax revenue
received by the City during the preceding tax year rran each
territory annexed during the preceding calendar year shall be
reported to the County Auditor-Control ler by August 1 of each
year , and the Auditor-Controller shall have the right to audit the
City ' s books to verify such amount .
5 . For each tax year after the calendar year in which all
annexation of t rritor y of thele 'F-'^'
: " ?pr V':e is o'''ir`J y
e
other territory in [he present sphere of iiiTTAO h i h P r' itY i �
i cuiupluted , the City shall receive a total of 1 ) all the Unse Tax
to whi h any dissolved County Service Areas would be entitled and
13 . 40 of the Base Tax to which the County would be entitled , with
'the County 'receiving the remainder and 2 ) all the Annual Tax
Increment to which any dissolved County Service Areas would be
entitled and 33 . 8` of the Annual Tax Increment to which the County
would be entitled , with the County receiving the remainder .
G . This Agreement is intended to govern only annexations of
territory in the present sphere of influence of the city , res shown
on the map attached as Exhibit _ B hereto-
7 .
ereto-.7 . The parties intend that each annexntion luted on Exhibit
A he initiated by the owner or the property at approximately the
tune set forth in i;xhibit A .
8 . The effective date of . this Agreement is June 3 , 198 G .
9If any clause , sentence or pnrngrnph of this Agreement is
held void or unenforceable by a court of law , the parties intend
I
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I
that the remai-nder of this Agreement shall continue to have full
operative effect .
Dated :_ Lt��t�— � Doted : June 3, 1986
City of San Ramon County of Contra Costa
i
Lam/
1�1a�or Cthairman , Board of
Supervisors
Attest :
City Clerk
I he-zeby eext.i6.y that .tile attached is a butt,
tiY(LF_ acid accuA-ate copy o6 a Ma3te.,c PxopeAty
Tax. AgAeement 60A Attoeat-ion 06 PAope/7ty Tax
Between -tile County o6 Contha Co,5-ta and City
06 San Ramon Upon Annexat�on,5 adopted by
the City Co91114L-r,�
9-it 06 the City o//6 Safi Ramon
o f i �b
Deju•ty Ct y C'Le v
AMENDMENT TO MASTER PROPERTY TAX EXCHANGE AGREEMENT.. . -
FOR ALLOCATION OF PROPERTY TAX BETWEEN THE COUNTY
OF CONTRA COSTA AND THE CITY OF SAN RAMON
UPON ANNEXATIONS
The County of Contra Costa ("County") and City of San Ramon
.("City") hereby agree that the Master Property Tax Exchange
Agreement for Allocation of Property Tax Between the County, of
Contra Costa and City of San Ramon Upon Annexations, adopted by
Resolution 86/305 of the Board of Supervisors of Contra Costa
County and Resolution 86/57 of the City Council of the City of
San Ramon, (hereafter the "Agreement") is amended as follows:
1. Paragraphs 3, 4 and 7 of the Agreement are hereby
deleted in their entirety.
2. The annexation of the Bishop Ranch Development to the
City, along with the annexation of such other territory as has
been included in the Central San Ramon I and II Boundary
Reorganization (LAFC 87-57 & 58) (hereafter the "Reorganization")
and the Central San Ramon III Boundary Reorganization
(LAFC87-60) , shall not be opposed by the County.
3 . The definitions of the California Revenue & Taxation
Code S 95 and Government Code SS 56010-56081 -shall apply herein.
The following additional definitions shall apply:
a. "Base tax" shall mean the total amount of property
tax revenues subject to allocation under R. &T. C. SS
97 (a) and (b) , which are generated in the
identified territory. Notwithstanding the
foregoing, base tax shall not include any property
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tax revenues allocated to any County free library
or any amounts generated by the increased
assessments .under Chapter 3.5 of Part 0.5 of
Division 1 of the Revenue and Taxation Code
(commencing with S 75) .
b. "Annual tax increment" shall mean the total amount
of property tax revenues subject to allocation
under R. & T.C. S 97 (c) and 98, which are generated
in the identified territory.
c-. "Tax year" or "fiscal year" shall mean the annual
period from July 1 through the succeeding June 30.
d. "Dissolved County Service Area" shall mean the part
of a County Service Area which is dissolved upon
annexation of territory of the Service Area to the
City. For purposes of this Agreement, a
County-Service Area shall be deemed a local agency
different than the County and having a property tax
allocation separate from the County. Base tax and
annual tax increment entitlements from Dissolved
County Service Areas shall be separate from any
entitlements due from the County.
e. Bishop Ranch Development means the territory
described on the map attached as Exhibit A to the
original Agreement, being approximately 585 acres,
except that the area known as BR4 and identified on
said Exhibit A as "Hotel/Retail/Health Club" shall
not be deemed a part of the Bishop Ranch.
Development for purposes of this Agreement until it
2
e�
is annexed to the City. Upon annexation, said BR4
area shall be deemed a part of the Bishop Ranch
Development for purposes of this Agreement. If the
annexation of said BR4 area is not completed in
1987, the provisions of this Agreement relating to
specific tax years (e.g. , the first tax year after
the calendar year of annexation) shall apply at
such later times as are appropriate.
f. "Phasing Plan Property" shall mean the properties,
including land and all existing and currently
planned improvements, for the areas known as BR15
.and BR17 and for the areas covered by the
Development Plan Approvals specified in Paragraph
2.4 of the .February 27, 1987 Bishop Ranch
Development Agreement By and Between The County Of
Contra Costa and Granada Sales, Inc. , Annabel
Investment Company, and Alexander Properties
Company Relative To The Development Known As Bishop
Ranch (hereafter the "Development Agreement") ,
except for the areas shown as BR2, BR11, BR12 and
BR6 on Exhibit A to the original property tax
exchange Agreement. Phasing Plan Property shall
include, but not be limited to, all existing and
currently planned improvements in the areas known
as BR 5, 7., 9; 15, and 17, which areas are
designated as "Future BR Development" on the
Phasing Plan of Exhibit A to the original property
tax exchange Agreement. For purposes of this
Agreement, "currently planned improvements" shall
3 -
mean 1) those improvements shown on any preliminary
development plan that has been approved by the
County and specified in Par. 2.4 of the Development
Agreement and 2) those improvements shown on any
preliminary development plan that has been approved
by the City, as of the end of 1987, for the areas
of the Bishop Ranch Development known as BR15 and
BR17.
g. "Other Property" shall mean all existing and future
property in the Bishop Ranch Development except
property defined as Phasing Plan Property.
h. "County AT1 Entitlement" shall mean the amount of
annual tax increment revenues which the County
would receive if no transfer of taxes to the City
occurred for the tax year in question.
i. "Completed Portion" shall mean all parts of Phasing
Plan Property for which, by the end of the tax year
one year prior to the tax year for which allocation -
is being made (e.g. , by the June 30, 1988 and of
the tax year 1987-8 for the allocation tax year
beginning July 1, 1989) :
1) Construction has been completed, as evidenced
by the City's issuance of a certificate of
occupancy or comparable document evidencing
completion issued by the County,
and 2) The County Assessor has enrolled a new base
year value as a result of the completed new
construction.
4 -
4 . For the Bishop Ranch Development, the transfer of property
tax revenues from the County to the City shall be as follows:
a. In the first tax year after the calendar year in
which the Reorganization is completed, the City shall
receive from the County an amount equal to 13.8 of
the County's total property tax revenues from all
property in the Bishop Ranch Development for the prior
tax year, which shall be known as the City's initial
base tax entitlement. As part of its total base tax
entitlement (specified in Paragraph 4f. below) in each
of the tax years succeeding the first tax year after
the calendar year in which the Reorganization is
completed, the City shall receive from the County the
dollar amount of the City's initial base tax
entitlement.
b. In addition to the amount received by the City from
the County each year pursuant to Paragraph 4a, the
City shall receive all base tax to which all Dissolved
County Service Areas would have been entitled for the
tax year.
C. In each tax year after the calendar year in which the
Reorganization is completed, the City shall receive
from the County an amount equal to 29.8% of the County
ATI Entitlement from other Property in the Bishop
Ranch Development and from the Completed Portion of
the Phasing Plan Property.
d. In each tax year after the calendar year in which the
Reorganization is completed, the City shall receive
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from the County an amount equal to 21.8% of the
County's ATI Entitlement . from Phasing Plan Property
that is not part of the Completed Portion. Notwith-
standing the foregoing, taxes resulting from any
assessed value increase attributable to any change of
ownership occurring in the tax year prior to the tax
year for which allocation is being made shall be
deemed taxes from the Completed Portion of the
Phasing Plan Property, so that the City shall receive
an amount equal to 29.8% of the County ATI Entitlement
thereon. Prior to July 15 of the tax year for which
allocation is being made, the City shall notify the
County Auditor of any such taxes attributable to such
changes of ownership.
e. In addition to the foregoing amounts received by the
City, for each ,tax year after the calendar year in
which the Reorganization is completed the City shall
receive all the annual tax increment to which any
Dissolved County Service Areas would have been
entitled for the tax year.
f. For tax years succeeding the tax year after the
calendar year in which the Reorganization is
effective, the City's total base tax entitlement from
the County for the Bishop Ranch Development shall be
the sum of the- City's initial base tax entitlement
(specified in Paragraph 4a, above) plus the total of
all annual tax increment amounts received by the City
from the County for all prior years pursuant to
6 -
Paragraphs 4c and 4d, above.
g. Notwithstanding anything in the foregoing to the
contrary, the Parties hereto agree that the total
amount of property tax revenues the city is to
receive. from the County in any tax year pursuant to
the foregoing provisions from the territory of the
Bishop Ranch Development annexed in the Central San
Ramon I and II Boundary Reorganization (LAFC 87-57
and 58) shall be reduced by an amount equal to 50%; of
the sum of the sales tax revenue and transient occu-
pancy tax revenue received by the City during the
preceding tax year throughout that area. Any such
reduction, however, shall not result in a "negative
transfer", i.e. , a net transfer from City to County.
h. Notwithstanding anything in the foregoing to the
contrary, the Parties hereto agree that the total
amount of property tax revenues the City is to receive
from the County in any tax year pursuant to the fore-
going provisions from the area annexed in the Central
San Ramon III Boundary Reorganization (LAFC 87-60)
shall be reduced by an amount equal to 50% of the sum
of the sales tax revenue and transient occupancy tax
revenue received by the City during the preceding tax
year throughout that area. Any such reduction,
however, shall not result in a "negative transfer", .
i.e. , a net transfer from City to County.
i. The total amount of transient occupancy tax and sales
tax revenue received by the City during the preceding
7 -
tax year, as specified in Paragraph 4g. and 4h. ,
above, shall be reported to the County Auditor-
Controller by August 1 of each year, and the Auditor-
Controller shall have the right to audit the City's
books to verify such amount.
j . Except as expressly so specified hereinabove, the
City shall receive no part of the property tax revenue
to which the County would be entitled from the Bishop
Ranch Development; provided, however, that this
provision shall not preclude the City from receiving
additional portions of the County's property tax
revenue as a result of other property tax exchange
agreements or legislation adopted after the effective
date of the annexations.
Dated: Dated:
County of Contra Costa City of San Ramon
By, �14-- By
Chair, Board of Supervisors Mayor
Pursuant to Resolution Pursuant to City Council
8717115- adopted__L2Z1ZEr7 Resolution 87/169
adoptedll/17/87
Approved as to Form: Approved as to Form:
' ounty Counsel City Att ney
- 8 -
EXHIBIT B
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CITY OF SAN RAMON
Vicinity Map
1 City Center N
APN: 213-133-063 2678 Bishop Dr. '' m
APN: 213-133-086 6200 Bollinger Canyon Rd. WS
San Ramon"'"^e1AAPN: 213-120-013 6201 Bollinger Canyon Rd.
A,ID
(Not to 3ceda>
EXHIBIT B