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01/28/2013 <br /> Exhibit A <br /> AGREEMENT FOR PAYMENT OF <br /> CALPERS PENSION AND RETIREE HEALTH BENEFIT <br /> UNFUNDED LIABILITITES <br /> This AGREEMENT ("Agreement") is made and entered into as of this day of , <br /> 2013 ("Effective Date") by and between the CITY OF REDWOOD CITY, a charter city and <br /> California municipal corporation ("City") and the SUCCESSOR AGENCY TO THE <br /> REDWOOD CITY REDEVELOPMENT AGENCY, ("Successor Agency"). The City and <br /> Successor Agency are hereinafter collectively referred to as "Parties." <br /> RECITALS <br /> A. Under AB Xl 26, a new Part 1.85 was added to Division 24 of the California <br /> Health and Safety Code (Health and Safety Code Section 34170 et seq., as amended by the <br /> December 29, 2011 decision of the California Supreme Court and AB 1484, enacted as part of <br /> the 2012-2013 state budget, the "Dissolution Act") and, in accordance therewith, all <br /> redevelopment agencies in the State of California, including the Redwood City Redevelopment <br /> Agency("Redevelopment Agency"), were dissolved as of February 1, 2012. <br /> B. In compliance with the Dissolution Act, the City determined it would serve as the <br /> Successor Agency effective February 1, 2012. <br /> C. Pursuant to the Dissolution Act, members making up the oversight board of the <br /> Successor Agency ("Oversight Board") have been duly appointed. <br /> D. The Dissolution Act tasks the Successor Agency and the Oversight Board with <br /> winding down the affairs of the former Redevelopment Agency, including payment of the former <br /> Redevelopment Agency's enforceable obligations. <br /> E. Pursuant to Section 34171(d)(1)(C) of the Dissolution Act, payments required in <br /> connection with the former Redevelopment Agency's employees, including but not limited to, <br /> pension payments, pension obligation debt service, unemployment payments, or other obligation <br /> conferred through a collective bargaining agreement are enforceable obligations. <br /> F. The Redevelopment Agency did not have any direct employees, but several <br /> employees performed work for the Redevelopment Agency and the Redevelopment Agency <br /> contributed toward their salaries. The accrued Ca1PERS pension and retiree health benefit <br /> obligations have historically been funded by the Redevelopment Agency in an amount directly <br /> proportionate to each employee's pro rata share of redevelopment work performed. The <br /> unfunded liabilities for pension benefits and retiree health benefits attributable to employees who <br /> provided services to the former Redevelopment Agency and payable to Ca1PERS as set forth in <br /> Exhibit A ("Unfunded Liabilities"), attached hereto and incorporated herein by this reference, are <br /> legacy costs of the former Redevelopment Agency that the Successor Agency is responsible for <br /> paying. <br /> ATTY/AGR/2012.103/RDA PERS UNFUNDED LIABILITIES AGREEMENT <br /> REV:01-17-13 VR <br /> Page 1 of 5 <br /> � RESO.#15242 <br /> MUFF#904 <br />