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10/10/2011 requiring that each redevelopment agency be dissolved unless the community that created it enacts an ordinance committing it to making certain payments; and WHEREAS, specifically, AB 1 X 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 WHEREAS, AB 1 X 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 WHEREAS, the Alternative Voluntary Redevelopment Program requires that the community agree by ordinance to remit specified annual amounts to the county auditor- controller; and WHEREAS, under the threat of dissolution pursuant to AB 1X 26, and upon the contingencies and reservations set forth herein, the City shall make the Fiscal Year 2011- 2012 community remittance, currently estimated to be Four Million, Nine Hundred and Twelve Thousand, Six Hundred Forty Six Dollars ($4,912,646), as well as the subsequent annual community remittances as set forth in the CRL. The City will not be utilizing the City's General Fund monies as the remittances will be made through the Agency's tax increment revenues; and WHEREAS, the City reserves the right to appeal the California Director of Finance's determination of the Fiscal Year 2011-12 community remittance, as provided in Health and Safety Code Section 34194; and ATY/ORD.352A2DA Continuation Ordinance ORD. # 2368 a 815 > > MUFF # 401 2