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early 2003 as the Cinema and the Courthouse Plaza move towards implementation. <br /> <br />Whatever action you take in the next 3-6 months on funding is not likely to be the last <br />action that the City may want to take. Passage of this Ordinance preserves the City's <br />flexibility with regard to funding plans that it may develop after 2004. <br /> <br />This action is taken by the City Council as the legislative body that established the <br />Redevelopment Agency. This ordinance preserves your flexibility with regard to financing. <br />If you decide to approve a particular funding structure in the future, this will be by separate <br />action. Nothing involved in this Ordinance will in anyway change the amounts of property <br />tax paid by owners within the Redevelopment Area. <br /> <br />Michael Church ett ' <br />Executive Director City Manager <br /> <br />Attachments 1. Other Redevelopment time limits <br /> 2. Ordinance <br /> <br /> Attachment 1 <br /> <br />Other Redevelopment Time Limits <br />The Redevelopment Plan has a time limit for effectiveness that is not changed by this proposed action. <br />Currently the effectiveness of the plan terminates on: <br /> <br /> · August 19, 2022 for the area added in 1982. <br /> · June 20, 2025 for the area added in 1985. <br /> January 18, 2028 for the area added in 1990. <br /> <br />Unless the Agency has debt that it is still repaying, the Agency will cease to receive property tax increment <br />after ten years from the respective termination dates of the effectiveness of the redevelopment plan. <br /> <br /> <br />