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Res14 15379
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Res14 15379
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Last modified
10/11/2019 7:52:21 AM
Creation date
10/11/2019 7:52:20 AM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Successor Agency
Date
11/17/2014
Description
RESOLUTION APPROVING ASSOCIATE MEMBERSHIP BY THE CITY OF REDWOOD CITY IN THE CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY AND AUTHORIZING AND DIRECTING THE EXECUTION OF AN ASSOCIATE MEMBERSHIP AGREEMENT RELATING TO ASSOCIATE MEMBERSHIP OF THE CITY IN THE AUTHORITY AND AUTHORIZE CITY MANAGER TO EXECUTE ADDITIONAL IMPLEMENTING DOCUMENTS
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a) A map showing the boundaries of the territory within which contractual <br /> assessments are proposed to be offered,as set forth in Section 4 hereof. <br /> b) A draft contractual assessment contract (the "Contract") specifying the terms and <br /> conditions of the agreement between CEDA and a property owner within the City. <br /> c) A statement of CEDA's policies concerning contractual assessments including all <br /> of the following: <br /> (1) Identification of types of Authorized Improvements that may be financed <br /> through the use of contractual assessments. <br /> (2) Identification of the CEDA official authorized to enter into contractual <br /> assessments on behalf of CEDA. <br /> (3) A maximum aggregate dollar amount of contractual assessments. <br /> (4) A method for setting requests from properiy owners for financing through <br /> contractual assessments in priority order in the event that requests appear <br /> likely to exceed the authorization amount. <br /> d) A plan for raising a capital amount required to pay for work performed in <br /> connection with contractual assessments. The plan may include the sale of a bond <br /> or bonds or other financing relationship pursuant to Section 5898.28 of Chapter <br /> 29. The plan (i) shall include a statement of, or method for determining, the <br /> interest rate and time period during which contracting property owners would pay <br /> any assessment, (ii) shall provide for any reserve fund or funds, and (iii) shall <br /> provide for the apportionment of all or any portion of the costs incidental to <br /> financing, administration and collection of the contractual assessment program <br /> among the consenting property owners and CEDA. <br /> e) A report on the results of the discussions with the County Auditor-Controller <br /> described in Section 10 hereof, concerning the additional fees, if any, that will be <br /> charged to CEDA for inclusion of the proposed contractual assessments on the <br /> general property tax roll of the County, and a plan for fmancing the payment of <br /> those fees. <br /> Section 9. Nature of Assessments. Assessments levied pursuant to Chapter 29, and the <br /> interest and any penalties thereon, will constitute a lien against the lots and parcels of land on <br /> which they are made, until they are paid. Unless otherwise directed by CEDA, the assessments <br /> shall be collected in the same manner and at the same time as the general taxes of the County on <br /> real property are payable, and subject to the same penalties and remedies and lien priorities in the <br /> event of delinquency and default. <br /> SecNon 10. Consultations with County Auditor-Controller. CEDA hereby directs the <br /> Program Administrator to enter into discussions with the County Auditor-Controller in order to <br /> reach agreement on what additional fees, if any, will be chazged to CEDA for incorporating the <br /> proposed contractual assessments into the assessments of the general taxes of the County on real <br /> property. <br /> Section 11. Preparation of Current Roll of Assessment. Pursuant to Section <br /> 5898.24(c), CEDA hereby designates the Program Administrator as the responsible party for <br /> annually preparing the current roll of assessment obligations by assessor's parcel number on <br /> property subject to a voluntary contractual assessment. <br />
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