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HomeMy WebLinkAbout2184 ORDINANCE NO. 2184 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, EXTENDING FOR ONE YEAR THE TIME LIMIT ON THE EFFECTIVENESS OF THE CENTRAL REDEVELOPMENT PLAN AND THE TIME LIMIT ON THE AGENCY'S RECEIPT OF TAX INCREMENT WHEREAS, the State of California Legislature has passed and the Governor has signed SB 1045; and WHEREAS, SB ] 045 requires the Arcadia Redevelopment Agency to pay a percentage of its FY 2003-4 tax increment revenue to the Los Angeles County Auditor Education Revenue Augmentation Fund (ERAF) by May 10,2004, and the Agency has been advised by the State Department of Finance that this amount is $155,085; and WHEREAS, SB ] 045 pennits the legislative body of the City to extend for one year the time limit on the effectiveness of the Central Redevelopment Plan and the time limit on the Agency's receipt of tax increment, and such can be done by the adoption of an ordinance without the procedural requirernents otherwise applicable to the adoption of a redevelopment plan amendment, as set forth in the California Health & Safety Code Section 33000 et seq.; and WHEREAS, the City Attorney has prepared this Ordinance in compliance with the provisions of SB 1045 (Chapter 260, Statutes of 2003). 2184 NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA DOES ORDAIN AS FOLLOWS: SECTION I. The recitals above are true and correct. SECTION 2. In Part I, B (Section 102) of the Central Redevelopment Plan entitled "Term of Redevelopment Plan", the date "January 25, 20] 4" shall be amended to read "January 25, 20]5". SECTION 3. In Part V, A (Section 501) of the Central Redevelopment Plan entitled "General Description of the Proposed Financial Methods", in the seventh paragraph thereof, the date "January 25, 2024" shall be amended to read "January 25, 2025". SECTION 4. This Ordinance shall be called "Arnendrnent Number 7 to the Central Redevelopment P]an." SECTION 5. The City Clerk shall certify to the adoption of this Ordinance and shall cause a copy of same to be published in the official newspaper of said City within fifteen (15) days after its adoption. This Ordinance shall take effect on the thirty-first (3151) day after its adoption. [SIGNATURES ON NEXT PAGE] 2 2184 Passed, approved and adopted this 18th day of November ATTEST: ~~4 ~~~ c ify Clerk APPROVED AS TO FORM: ~~ (? /~ City Attorney 3 ,2003. M yor of the City of Arcadia / I I 2184 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) SS: CITY OF ARCADIA ) I, JUNE D. ALFORD, City Clerk of the City of Arcadia, hereby certifies that the foregoing Ordinance No. 2184 was passed and adopted by the City Council of the City of Arcadia, signed by the Mayor and attested to by the City Clerk at a regular meeting of said Council held on the 18th day of Novernber, 2003 and that said Ordinance was adopted by the following vote, to wit: A YES: Councilmembers Chang, Kovacic, Marshall, Segal and Wuo NOES: None ABSENT: None (.', /;)' "v.~ iry"Clerk of the ....- I I . Ity of Arcadia 4 2184