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6.3.A. - Page 10 COMMUNITY REMITTANCE FUNDING AGREEMENT (HEALTH AND SAFETY CODE SECTION 34194.2) This COMMUNITY REMITTANCE FUNDING AGREEMENT ( "Agreement "), is dated for reference purposes as of September , 2011, by and between the CITY OF REDWOOD CITY, a charter city and California municipal corporation ( "City "), and the REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY, a public body, corporate and politic ( "Agency "). The City and the Agency are sometimes, individually, referred to in this Agreement as a "Party" or are sometimes, collectively, referred to in this Agreement as the "Parties." The Parties enter into this Agreement with reference to the following recited facts: RECITALS A. Pursuant to the Community Redevelopment Law (Health and Safety Code Sections 33000, et seq.) ( "CRL "), the City Council of the City created the Agency to serve as the redevelopment agency within the City; and B. The Agency has been responsible for implementing the Redevelopment Plan for the Redwood City Redevelopment Project covering certain properties within the City ( "Project Area "); and C. As part of the 2011 -2012 State budget bill, the California Legislature enacted, and the Governor signed, companion bills AB 1X 26 and AB 1X 27, requiring that each redevelopment agency be dissolved unless the community that created it enacts an ordinance committing it to making certain payments; and D. Specifically, AB 1X 26 prohibits agencies from taking numerous actions, effective immediately and purportedly retroactively, and additionally provides that agencies are deemed to be dissolved as of October 1, 2011; and E. AB 1X 27 provides that a community may participate in an "Alternative Voluntary Redevelopment Program," in order to enable a redevelopment agency within that community to remain in existence and carry out the provisions of the CRL, by enacting an ordinance agreeing to comply with Part 1.9 of Division 24 of the Health and Safety Code; and F. On September 12, 2011, the City adopted Ordinance No. , stating the City's election to participate in the Alternative Voluntary Redevelopment Program, subject to certain terms and conditions, and has notified the San Mateo County Auditor - Controller, the Controller of the State of California, and the California Department of Finance of such election ( "Ordinance "); and G. Participation in the Alternative Voluntary Redevelopment Program requires the City to remit specified annual amounts to the county auditor - controller ( "Community Remittance "); and ATTY /AGR/2011.076 /CITY- AGENCY COMMUNITY REMITTANCE AGREEMENT 082611 1