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12/03/2012 <br /> ORIGINAL <br /> RESOLUTION NO. 15234 <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br /> CITY ELECTING TO RECEIVE A PORTION OF THE TAX INCREMENTS <br /> PURSUANT TO HEALTH AND SAFETY CODE SECTIONS 33607.7 <br /> AND 33607.5 <br /> WHEREAS, the City Council of the City of Redwood City, has previously adopted <br /> a Redevelopment Plan (the "Redevelopment Plan") for the Redwood City <br /> Redevelopment Project Area No. 2, which Redevelopment Plans have been amended <br /> numerous times in the past; and <br /> WHEREAS, the Redevelopment Agency of the City of Redwood City (the <br /> "Agency") was vested with the responsibility to carry out the Redevelopment Plans in <br /> the City of Redwood; and <br /> ' WHEREAS, Section 33333.6 of the California Community Redevelopment Law <br /> (Health and Safety Code Section 33000 et seq.) provides, in part, that on or after <br /> January 1, 2002, a redevelopment plan adopted on or before December 31, 1993, may <br /> be amended to eliminate the time limit on the establishment of loans, advances, and <br /> indebtedness that was previously required by that section prior to January 1, 2002; and <br /> WHEREAS, by Ordinance No. 2240 adopted on December 2, 2002, the City <br /> Council amended the Redevelopment Plan to eliminate the time limit on the <br /> establishment of loans, advances and indebtedness that was previously required by <br /> Health and Safety Code Section 33333.6 prior to January 1, 2002; and <br /> WHEREAS, Section 33607.7 of the Health and Safety Code provides, in part, <br /> that if a redevelopment plan adopted prior to January 1, 1994, is amended to increase <br /> or eliminate the time limit on the establishing of loans, advances, and indebtedness <br /> established pursuant to Section 33333.6, and an agreement was not entered into by the <br /> agency and the taxing entity prior to January 1, 1994, that requires payments to the <br /> taxing entity, the agency shall pay to such affected taxing entity the amounts required <br /> pursuant to subdivisions (b), (c), (d), and (e) of Section 33607.5; and <br /> WHEREAS, Section 33607.5(b) of the Health and Safety Code provides that in <br /> any fiscal year in which a redevelopment agency receives tax increments, the <br /> community that has adopted the redevelopment project area may elect to receive, and <br /> the agency shall pay to it, an amount equal to 25 percent of its proportionate share of <br /> ATTY/DOCS-RESO/RES0.2808/RWC ELECTING TO RECEIVE RESO.#15234 <br /> A PORTION OF THE TAX INCREMENTS MUFF#454 <br /> REV: 11-27-12 VR <br /> Page 1 of 3 <br />