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GENERAL <br />1. Approval by resolution of agreements with taxing entities concerning tax <br />increment from 2nd amendment of Redevelopment Plan. <br />Report: Joint Public Hearing Document Binder on Proposed Second Amend- <br />ment to the Redevelopment Plan - Redevelopment Project No. 2, <br />November 20, 1989 <br />Redevelopment Agency Executive Director Church presented staff report and <br />summary of Fiscal Review Committee and described agreement with the County of <br />San Mateo and conceptual agreements with remaining taxing agencies. <br />Tax Sharing Agreements <br />San Mateo County <br />1. Agency receives first $25,000,000 of County share of the assessed value <br />growth above the base year. <br />2. Agency agrees to commit $1,250,000 to a County Government center parking <br />structure from revenues derived from the County, at some time in the <br />future. <br />3. Agrees to meet in good faith to consider increasing the amount of funding <br />for the structure at some time in the future. <br />School Districts - Redwood City Elementary School District, Sequoia Union <br />High School District, San Mateo County Community College <br />District, San Mateo County Office of Education <br />1. Agency receives the School Districts shares of gross tax increment and <br />subtracts 20% for the Housing Fund. <br />2. Remaining 80% of the increment is divided 50:50 between the Agency and <br />Districts. <br />3. Agency agrees to meet in good faith to consider funding improvements to <br />Sequoia High School and Hoover School at some future date. <br />Mid Peninsula Open Space <br />Harbor District <br />Mosquito Abatement District <br />1. Agency receives each District's share of the gross tax increment and <br />subtracts 20% for the Housing Fund. <br />2. Remaining 80% of the increment is divided 50:50 between the Agency and <br />the Districts. <br />The following people addressed the Council and Agency on behalf of the Second <br />Amendment to the Redevelopment Plan and commended Agency Executive Director <br />Church and Agency Counsel James Hildebrand for their efforts and cooperation <br />MINUTE BOOK NO. 49 Joint Council /Redev.Minutes <br />Page No. 151 11/20/89 <br />Page 2 <br />