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WHEREAS, County is a taxing agency with territory located !'� <br /> within the Redevelopment Plan area and has concern over a pos- <br /> sible negative impact of tax increment financing on its financial <br /> situation; and <br /> WHEREAS, the Agency in exchange for the mutual covenants and <br /> agreements contained herein is willing to waive and relinquish <br /> certain rights it may otherwise have to the County's portion of <br /> the tax increment as more fully set forth below; and <br /> WHEREAS, the Health and Safety Code.fnrther and additionally <br /> provides that a redevelopment agency may pay to any taxing agency <br /> with territory located within a redevelopment project.area any <br /> amounts of money which in the Agency'� determination are appropriate <br /> to alleviate any financial burden or detriment caused to any <br /> taxing agency by a redevelopment project; and � <br /> WHEREAS, the Agency has determined that the waiver of and/or <br /> payments of tax increment revenue to the County as set forth <br /> below are necessary to alleviate the 6urden and detriment caused <br /> to the County by the redevelopment plan; and <br /> WHEREAS, in consideration of this Agreement determining the <br /> obligations of the Agency, the County is foregoing the right to • <br /> contest the establishment of the redevelopment plan; <br /> NOW� THER�FORE, IT IS HEREBY AGREED AS FOLLOWS: <br /> 1. In the event the proposed Redevelopment plan with tax <br /> increment financing is adopted by Aqency, the Agency shall receive <br /> the Eull tax increment to which it is otherwise entitled until � <br /> • Z <br />