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Home My WebLink AboutResolution No. 5710 RESOLUTION NO. 571 0 A RESOLUTION OF THE CITY OF AZUSA REDEVELOPMENT AGENCY APPROVING THAT CERTAIN AGREEMENT ENTITLED "AN AGREEMENT FOR ALLOCATION OF TAX INCREMENT FUNDS" BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, THE CITY OF AZUSA, AND THE COUNTY OF LOS ANGELES WHEREAS, the Azusa Redevelopment Agency (the "Agency") has initiated the formation of the Ranch Center Redevelopment Project Area in compliance with the California Community Redevelopment Law [Health and Safety Code, Sections 33000, gt sec. (the "Code")]; and WHEREAS, the Agency has consulted with representatives of the County on behalf of the County General Fund, the Flood Control District, the Public Library (hereinafter referred to as "County Taxing Entities") pursuant to Health and Safety Code 33328 to determine the fiscal impact of the Ranch Center Project Area formation; and WHEREAS, the County intends that this Agreement, in substantially the form attached, shall serve as a solution to their concerns regarding possible fiscal impact and agrees to forebear any judicial remedies they may have to challenge the validity of:the project area formation. NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF AZUSA REDEVELOPMENT AGENCY AS FOLLOWS: SECTION 1. The Agency approves and adopts that certain Agreement entitled "An Agreement for Allocation of Tax Increment Funds", dated May 15, 1989, and authorizes the Chairman to execute said Agreement on behalf of the Agency in substantially the form attached hereto. SECTION 2. The Secretary and adoption of this resolution, effect and be in force. shall certify as to the passage and it shall thereupon take PASSED AND ADOPTED this 15th day of May , 1989. � Eugery F. Moses, Chairman I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Board of Directors of the City of Azusa Redevelopment Agency, at a regular meeting thereof held on the 15th day of May , 1989. AYES: BOARD MEMBERS: NOES: BOARD MEMBERS: ABSENT: BOARD MEMBERS: Z/Xi Secret AVILA, STEMRICH, NARANJO, LATTA, MOSES NONE NONE ✓� �j :