HomeMy WebLinkAboutCC Resolution 6923 (Tax Increment Financing)RESOLUTION NO. 6923
A RESOLUTION AUTHORIZING THE SIGNING OF A
CONTRACT, LEASE OR AGREEMENT
THE CITY COUNCIL OF THE CITY OF SAN RAFAEL RESOLVES as follows:
The MAYOR and CITY CLERK are authorized to execute, on behalf of
the City of San Rafael, a contract, lease or agreement with
FISCAL AGREEMENT between
the San Rafael Redevelopment Agency, County of Marin, San Rafael
Elementary School District, San Rafael High School District and
Marin Community College District Re: Tax Increment Financing for the
San Rafael Redevelopment Agency
a copy of which is hereby attached and by this reference made a part
hereof.
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael, hereby
certify that the foregoing resolution was duly and regularly intro-
duced and adopted at a regular meeting of the City Council of said
City held on Tuesday the fourth
19 84, by the following vote, to wit:
day of September
AYES: COUNCILMEr.!BERS: Breiner, Frugoli, Nave,`Russom & Mulryan
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEIIBERS: None
JEkAE M. LEONCINI, City Clerk
ORIGINAL 69a3
I
FISCAL AGREEMENT
This Agreement is made this 11th day of September , 1984,
by and between the San Rafael Redevelopment Agency ("Agency") and the
following parties (collectively "Taxing Agencies"):
County of Marin ("County")
City of San Rafael ("City")
San Rafael Elementary School District
("Elementary School District")
San Rafael High School District
("High School District")
Marin Community College District
("College District")
with reference to the following facts:
1. On or about April 16, 1973, Agency entered into an agreement
with the County providing for limits on the amount of tax increment
the Agency could receive pursuant to the Central San Rafael Redevelop-
ment Plan and Health and Safety Code Section 33670. On or about
January 16, 1973, Agency entered into a similar agreement with the
High School District and the Elementary School District. On or about
July 17, 1973, the Agency entered into a similar agreement with the
College District. Those agreements and all amendments thereto are re-
ferred to herein as "Previous Agreement".
2. The parties to this Agreement who were not parties to the
Previous Agreement benefitted from the provision of the Previous Agree-
ments.
3. The parties desire to revise the provisions of the Previous
Agreement to reflect changed conditions and the need of the Agency to
raise additional funds to make improvements in the project area.
THEREFORE, the parties agree as follows:
1. Previous Agreements. This Agreement shall supersede the
Previous Agreements and all amendments thereto, and, upon execution of
this Agreement, the Previous Agreements and all amendments thereto
shall be null and void and of no force or effect.
2. Claim of Increment. In any year, the Agency shall claim and
receive tax increment from the Central San Rafael Redevelopment Project
project area an amount not in excess of the following:
(a) The amount necessary to pay the debt service on the
Agency tax allocation bonds issued prior to the date
of this Agreement. For the purpose of this sub-
paragraph (a) and subparagraph (b) below, the term
"debt service" shall mean any amount of principal,
P Y
interest, or other payment the Agency is obligated
to pay to the trustee for the bondholders, the bond-
holders or any other person or entity under the terms
of the agreements and resolutions regarding the bonds;
plus
(b) The sum of $1,440,000, provided however, that except
as is necessary to pay debt service on tax allocation
bonds issued after the elate of this Agreement, the
Agency shall not claim or receive tax increment pur-
suant to this subparagraph (b) for any fiscal year
which begins following the expiration of eight years
from the date of this Agreement; plus
(c) Any amount necessary to make payments to the County
pursuant to subparagraph 1(a) of the agreement which is
attached hereto as Exhibit A.
(d) Any amount necessary to make payments to the School
District reserve fund described in the agreement which
is attached hereto as Exhibit B; plus
(e) Any amount necessary to make payments to the County
pursuant to subparagraph 1(b) of the agreement which is
attached hereto as Exhibit A.
3. Revisions to Agreement. If during the term of this Agreement,
fiscal burden is placed upon a party to this Agreement, as a result of
litigation, legislation or other event relating to the tax increment
provisions of the Redevelopment Plan for the Central San Rafael
Redevelopment Project, the parties agree to meet and negotiate in good
faith in order to find ways to ameliorate such fiscal burden.
4. Use of Tax Increment and Bond Proceeds. The Agency shall use
the proceeds of tax allocation bonds secured by the tax increment
funds received pursuant to subparagraph 2(b) above, and any tax incre-
ment funds received pursuant to subparagraph 2(b) above not necessary
to pay debt service on such tax allocation bonds for the projects and
purposes set forth in the attached Exhibit C. The parties recognize
that the dollar amounts set forth in the attached Exhibit C with
respect to each specific project__or purpose are estimates and that the
Agency may expend more or less than the amounts set forth in the
attached Exhibit C for a particular project or purpose, provided, how-
ever, that the Agency shall not expend more than $150,000 per year for
an eight year period following the date of this Agreement to provide
an administrative fund to cover operational and administrational costs.
5. Termination. This Agreement shall terminate on December 31, 2019:
or upon the maturity of the bonds, whichever occurs first.
ATTEST: SAN RAFAEL REDEVELOPMENT AGENCY
ncy secreEary Chairman
AP ROVES TO FORM:
BY V" Y � � -2-
ATTEST:
By
VS
City Clerk
ATTEST:
By
Clerk
ATTEST:
It
ATTEST:
By
ATTEST:
By
CITY OF SAN RAFAEL
COUNTY OF MARIN
By •
Chairman, Board of Supervisors
SAN RAFAEL ELEMENTARY SCHOOL DISTRICT
BY
SAN RAFAEL HIGH SCHOOL DISTRICT
By 9U eA
MARIN COMMUNITY COLLEGE DISTRICT
—3—
'ECTION 33401 AGREEAi NT
/ ( COUNTY )
This agreement is made this 1 1 th day of September
by and between the San Rafael Redevelopment Agency (1Agency")9
84
and the County of Mai -in ("County") with reference to the follow-
ing facts:
1. The Agency's Central Sari IIafael Itedevelopncent Project
has and will continue to cause a financial burden of detriment
to the County.
2. The Agency and County desire to Pru idea for Agency
payments to the County from tax increment received by the Agency
pursuant to Health and Safety Code Section 33670 which payments
are necessary to alleviate the financial burden or detriment to
the County.
THEREFORE, Agenc.; and Count, aE,. ee as follows:
1. Annual Payment.From the to>: increment bald to the
Agency pursuant to Health and' Safety Code Section 33670, the
Agency shall pav County on an ar7nua2 basis thefollowing amounts:
a. An amount equal tO th- annual increment allocation
factor for the County multiplied t,;* the amount paid to the
Agency pursuant to subparagraph 2(b) of the Fiscal Agreement of
even date herewith between the Agenc%, , County and otter pal -ties
("Fiscal Agreernent"); plug
b. An amount equal ,e, the annual increment allocation
factor for the County multiplieci i>y the amour;t paid into the
reserve fund pursuant to the Schoc,] I)i:;trict Agreement of even
date herewith between the !'Lgerlcy, the San Rafael Elementary
School District, the San Rafael iliE;l, School District and the
Marin Community College Dict.•ict ("School District Agreement").
2. Priority, and Claim,;. The Agcr,_•y shall claim the amount
owing; to Count.,• in a particular,c,al•
above as indebtedness to be paidwitilitaxuincremennt. Theant tohamounts
the Agency is to pay County pursuant To paragraph 1 shall be
paid only from tax increment received by the Agency and shall
only be paid to the extent the Agenc•, receives tax increments in
eNcess of the amounts sl:ecified ir, subl:cLragraphs 2(d) and (b) of
t1 e Fiscal Agreement.
3. Payment o; Funds. The Ai,ency shall amount
Tax Trust pec., from the Agency's
meat in sem-annual Fund—any ou•in�. to the' County under ttcis agree-
il instn11r7e;lts, �t•'ic•n the tax incremr�nt is
received by the A� ency pursu;�n t to 11e•:c] th and Safety Code Section
33670. Upon making a pavr,ent , the Agency shall provide the
County with a statement Sc't t i nf- forth they an;Uc;nts paid to the
�:oPY
County in the manner in xhich such amounts were calculated.
The provisions of this paragraph 3 shall not preclude the
County from disputing the amounts paid by the Agency or the
manner in which said amounts were calculated in the event the
amounts paid or manner of calculation: are in violation of this
agreement.
ATTEST:
By
Agency Secre ry
ATTEST:
' /
Clerk of the Board
SAN itAI,AEL REDEVELOPME2dT AGENCY
B �.
Chairman
COUNTY Or MARI N
i
Chairman, Board of Supervisors
U
EXHIBIT B
SECTION 33401 AGREEMENT
(SCHOOL DISTRICT)
This agreement is made this 4th of September
1984, by and between the San Rafael Redevelopment Agency
("Agency") and the San Rafael Elementary School District, San
Rafael High School District and the Marin Community College
District (collectively "Districts") with reference to the
following facts:
1. The Agency's Central San Rafael Redevelopment Project
has and will continue to cause a financial burden or detriment to
the Districts.
2. The Agency and the Districts desire to provide for
Agency contingent payments to the District from tax increment
received by the Agency pursuant to Health & Safety Code Section
33670 which payments are necessary to alleviate the financial
burden to the Districts.
THEREFORE, Agency and Districts agree as follows:
1. Establishment and Funding of Reserve Fund. From the
tax increment payable to the Agency pursuant to Health 6
Safety Code Section 33670, the Agency shall each fiscal year pay
into a reserve fund an annual amount equal to the total amount
of tax increment generated from the Central San Rafael
Redevelopment Project project area for that particular fiscal
year less the sum of the payments made pursuant to subparagraphs
2(a), 2(b) and 2(c) of the Fiscal Agreement of even date herewith
between the Agency, Districts and otter parties ("Fiscal
Agreement") and the result of that subtraction divided by 1. lu
the annual increment allocation factor- for Marin County; providedp,s
however, that the total am,_un tl of pavmeiits into the reserve fund shall
not exceed $965,844 less iriter ust earned on the reserve fund.
2. Payments fron Reserve Fund. In any year in which
a District suffers a revenue loss as a result of a statutory
change in the formula for determining state subventions to the
District a:hich statutory change in subvention formula causes the
District to lose revenue due directly to the existence of the
Central San Rafael Redevelopment Project and the use of tax
increment financing authorized by the Agency's redevelopment plan
_l_
COPY
now,
for the Project ("Revenue Loss"), such District shall be entitled
to receive a payment from the reserve fund equal to the lesser of
the amount of the Revenue Loss or an amcunt equal to the amount
paid to the Agency pursuant to subparagraph 2(b) of the Fiscal
Agreement multiplied by the District Percentage. The District
Percentage for a particular district in a particular year shall
be the percentage of the real property taxes generated from the
Central San Rafael Redevelopment Project project area that would
have been paid to the particular District had the Agency not
adopted the redevelopment plan for the Central San Rafael
Redevelopment Project. In the event that in a particular year
the reserve fund contains insufficient funds to make the payments
to Districts otherwise entitled to such payments, the amount in
the reserve fund shall be allocated and paid to a particular
District otherwise entitled to a payment on the basis of the
percentage calculated by dividing that District's District
Percentage by the sum of the District Percentage of all Districts
otherwise entitled to a payment.
3. Disposition of Reserve Fund. If, prior to two years
of the maturity-otthe Lonas, there are funds remaining
in the reserve fund , the reserve shall be distributed to the
Agency for use by the Agency to pay Agency indebtedness including
redemption of Agency bonds then outstanding.
4. Priority and Claims. The Agency shall claim the amount
owing to the reserve fund pursuant to paragraph 1 above as
indebtedness to be paid with tax increment. The amounts the
Agency is to pay to the reserve fund pursuant to paragraph 1
shall be paid only from tax increment received by the Agency and
shall only be paid to the reserve fund to the extent the Agency
receives tai: increments in excess of the amounts specified in
subparagraphs 2(a), W, and (c.) of the Fiscal Agreement. The
Agency's obligation to make payments to a District or Districts
pursuant to this agreement stall bo limited to funds in the
reserve fund.
5. Administration: of Funds. The reserve fund shall be
held and administered by the Auditor -Controller of the
County of Marin c:r any other person or entity acceptable to the
parties. The funs in the reserve fund shall be invested upon
the instructions of the Agency and any interest or other return
earned on such investment shall become part of the reserve fund.
The Auditor-Contrcller or ether administrator of the reserve fund
shall make payments from the fund to a party entitled thereto no
earlier than 30 days following receipt of a certified statement
from such party. The statement shall set forth the amount to be
paid, the manner in which such amounts were calculated, and the
circumstances that give rise to the right to a payment. The
-2-
party submitting such a statement s}:all E:lso provide copies to
the other parties to this agreement. Tlie prop•:sicns of this
paragraph shall not preclude any party to this agreement from
disputing a payment trade or the mariner in which the amount of
such payment was calculated in the. cvcr�t the Fc,mnnt or manner of
calculation is ill violation, of this agreement.
ATTEST:
SAN RAFAL:-
AGENCY
By
UAgency Secret ry `
ScliooI,
DISTRICT
By
Dy
h
MARIN COMMUNITY COLLEGE
DISTRICT
SAN R;,FAIEL ELEMFNTi�,R?Y SCHOOL
DISTRICT
r
. `• _ .._ �. �'� tel,
LI S' F PROPOSED REDEVELOP,�,E� ROJECTS
This is a list of activities contemplated b
h
Redevelopment Agency to be undertaken pursuanttoSth Rafael
tion of the second major phase of the Central San RafaelpReme
ment Project Plan. devveloelo
p-
1. Creation of an East Fourth Street beau-
tification project between Lincoln and
Mary; some improvements to include land-
scaping and beautification, removal of
some on -street parking, and special
street and sidewalk surface treatment
Est. Cost $ 330,000
2. Drainage and signal imProvenents on
Fourth Street at Lincoln ($83,00000) and
Tamalpais ($57,000).
Est. Cost $ 140,000
3. Facilitation of further develop--ent in
the S'est Francisco area to impro;e
drainage facilities by co-pletion of
Phase II of the Storm Drainage 'e=ster
Plan.
Est. Cost
4. Re -location of the Rossi c �,,-p staL$ 70,000
.ion
- include land accuisiticn to
and drainage construction
5• Construction Or riscell?r.�o�s
improvements in the test Francisco
Est. Cost $1,000,000
Boulevard area.
Est- Cost $ 450,0()0
6. Drainage improve -.encs a -c �eet to 5-ctio
ccnstruction at Lindaro Str n
include installation o: e-ergency
generator.
7- To extend West
Est. Cost $ 525,000
Francisco Boulevard
frog Second Street to Third Street
adjacent to the transpe= tation c -�
e. t e.r
.
Est- Cost $1,500,000
b. Signalization o` Second and Th_=a
Streets at Fr
extension. ancisco Bo:levarc uest
Est- Cost $ 200,000
9. To extend A.nderse- Drive frcn, B�'1:a,T
Boulevard to A Street -o7. clu,d- ri gr,t-
of-way acquisition, des_c- _
construction. `'nd
1
Est- Cost $5,000,000 G Acti"_sition and
d_ ve1GL:-��it O`
ing lot on :•rest r reuth S - _ a r�arf;-
reet
Est Cost300, 000
1 1 • F'ro'•'i do � de v 10 '., e t� - fc,1e $
�� :L fr
moderate incor,.e }iousinc.
Cost S SU�, 000
• r--- - �VW.L Uj�ment assistance
fund in the nount of 6800,000 to
acquire pr: tely owned parcels for
assemblage purposes as well as to
acquire parcels individually for future
private development. Said funds would
also be provided for the demolition of
existing structures for site prepara-
tion in accordance with disposition
agreements to sell the land to a private
developer, as well as Funds to provide
the necessary on and Off-site require-
ments to make the specific project
feasible
13. To provide an administrative fund to
cover operational and administrative
costs for an eight-year period in the
amount of $150,000 annually.
-2-
Est. Cost $ 800,000
Est. Cost $1,200,0C.0
TOTAL COST $12,015.000
MARIN COMMUNITY COLLEGE DISTRICT
BOARD OF DIRECTORS
RESOLUTION NO. 84/85-57
WHEREAS, the District has previously entered into an
agreement with the San Rafael Redevelopment Agency ("Agency")
limiting the amount of tax increment funds the Agency may
receive pursuant to Health and Safety Code Section 33670; and
WHEREAS, the Agency has proposed certain changes to that
previous agreement which would permit the Agency to receive
additional tax increment funds in order to undertake certain
activities which would benefit the citizens of Marin County
and increase the assessed valuation of property within Marin
County and which would establish a reserve fund which would
provide funds to the District in the event state legislation
were enacted causing a revenue loss to the District because of
the Agency's receipt of tax increment funds; and
WHEREAS, the Agency has proposed that such changes be
accomplished by entering into the Fiscal Agreement which is
attached to this resolution and made a part of this resolution
by this reference and the Section 33401 Agreement (School
District) which also is attached to this resolution and made a
part of this resolution by this reference; and
WHEREAS, the Board has determined that it is in the best
interests of the District to enter into the Fiscal Agreement
and the Section 33401 Agreement (School District);
THEREFORE, the Board of Directors hereby resolves:
1. The Board approves the attached Fiscal Agreement and
PSCD-C!'T°y c5ection 33401 Agreement (School District) .
2. The Board President is authorized to execute such
12 X! J 65 1; : agreements on behalf of the District.
Passed on this day of , 1985 by the
following vote:
Ayes
Noes
Abstain —
LR/3166 TXTTW
5/22/85
I, Al M. Curtis, Clerk of the Board of Trustees of the Marin Community College
District of Marin County, California, do hereby certify that the foregoing is a
true and correct copy of a Resolution adopted by said Board at a regular meeting
thereof, held at its regular place of meeting at the time and by the vote above
stated. --_-
Clerk
This Agreement
by and between the
following parties
NOTE: THIS DOCUMENT
WAS ONLY EXECUTED BY
MARIN COMMUNITY
COLLEGE DISTRICT.
FISCAL AGREEMENT WAS
SUBSEQUENTLY REVISED
BEFORE SUBMITTAL TO
AGENCY/COUNCIL
9/9/84 NOTE:
FISCAL AGREE-1ENT Signed "Copy" by
Etta Allen given to
C/M to discuss
is made this 14th day of AU, w/Phyllis Metcalf,
San Rafael Redevelopment Agency ( "A: Marin Community
(collectively "Taxing Agencies"):
College District
County of Marin ("County")
City of San Rafael ("City")
San Rafael Elementary School District
("Elementary School District")
San Rafael High School District
("High School District")
Marin Community College District
("College District")
with reference to the following facts:
NOTE: 3/13/85
Spoke w/Claudia Lewey,
Secretary, MARIN COM-
MUNITY COLLEGE DIST.
BD. OF TRUSTEES, who
indicated Board ap-
proved FISCAL AGREE-
MENT 8/14/84 J.M.L.
1. On or about April 16, 1973, Agency entered into an agreement
with the County providing for limits on the amount of tax increment
the Agency could receive pursuant to the Central San Rafael Redevelop-
ment Plan and Health and Safety Code Section 33670. On or about
January 16, 1973, Agency entered into a similar agreement with the
High School District and the Elementary School District. On or about
July 17, 1973, the Agency entered into a similar agreement with the
College District. Those agreements and all amendments thereto are re-
ferred to herein as "Previous Agreement".
2. The parties to this Agreement who were not parties to the
Previous Agreement benefitted from the provision of the Previous Agree-
ments.
3. The parties desire to revise the provisions of the Previous
Agreement to reflect changed conditions and the need of the Agency to
raise additional funds to make improvements in the project area.
THEREFORE, the parties agree as follows:
1. Previous Agreements. This Agreement shall supersede the
Previous Agreements and all amendments thereto, and, upon execution of
this Agreement, the Previous Agreements and all amendments thereto
shall be null and void and of no force or effect.
2. Claim of Increment. In any year, the Agency shall claim and
receive tax increment from the Central San Rafael Redevelopment Project
project area an amount not in excess of the following:
(a) The amount necessary to pay the debt service on the
Agency tax allocation bonds issued prior to the date
of this Agreement. For the purpose of this sub-
paragraph (a) and subparagraph (b) below, the term
Copy, "debt service" shall mean any amounT -f nrinr.ina7.
Or
intere: or other payment the AF, y is obligated
to pa} Lo the trustee for the bondholders, the bond-
holders or any other person or entity under the terms
of the agreements and resolutions regarding the bonds;
plus
(b) The sum of $2,102,000, provided however, that except
as is necessary to pay debt service on tax sllocat;on
bonds issued after the elate of this Agreement, the
Agency shall not claim or receive tax increment pur-
suant to this subparagraph (b) for any fiscal year
which begins following the expiration of eight years
from the date of this Agreement; plus
(c) Any amount necessary to make payments to the County
pursuant to subparagraph 1(a) of the agreement which is
attached hereto as Exhibit A.
(d) Any amount necessary to make payments to the School
District reserve fund described in the agreement which
is attached hereto as Exhibit B; plus
(e) Any amount necessary to make payments to the County
pursuant to subparagraph 1(b) of the agreement which is
attached hereto as Exhibit A.
3. Revisions to Agreement. If during the term of this Agreement,
fiscal burden is placed upon a party to this Agreement, as a result of
litigation, legislation or other event relating to the tax increment
provisions of the Redevelopment Plan for the Central San Rafael
Redevelopment Project, the parties agree to meet and negotiate in good
faith in order to find ways to ameliorate such fiscal burden.
4. Use of Tax Increment and Bond Proceeds. The Agency shall use
the proceeds of tax allocation bonds secured by the tax increment
funds received pursuant to subparagraph 2(b) above, and any tax incre-
ment funds received pursuant to subparagraph 2(b) above not necessary
to pay debt service on such tax allocation bonds for the projects and
purposes set forth in the attached Exhibit C. The parties recognize
that the dollar amounts set forth in the attached Exhibit C with
respect to each specific project or�ur�ose are estimates and that the
Agency may expend more or less than the amounts set forth in the
attached Exhibit C for a particular project or purpose, provided, how-
ever, that the Agency shall not expend more than $150,000 per year for
an eight year period following the date of this Agreement to provide
an administrative fund to cover operational and administrational costs.
5. Termination. This Agreement shall terminate on December 31, 209.
ATTEST:
APPROVED AS TO FORM:
SAN RAFAEL REDENTLOPMENT AGENCY
1WM
ATTEST:
By
ATTEST:
By
ATTEST:
By
ATTEST:
By
CITY OF SAN RAFAEL
By
COUNTY OF MARIN
By
SAN RAFAEL ELEMENTARY SCHOOL DISTRICT
Um
SAN RAFAEL HIGH SCHOOL DISTRICT
By
ATTEST: MARIN COMMUNITY COLLEGE DISTRICT
By BYE//�-tom%
-3-
i EXHIBIT A
SECTI N 33401 AGREEMEN"I
(COUNTY)
This agreement is made this day of 9 1984
by and between the San Rafael Redevelopment Agency ("Agency")
and the County of Marin ("County") with reference to the follow-
ing facts:
1. The Agency's Central San Rafael Redevelopment Project
has and will continue to cause a financial burden of detriment
to the County.
2. The Agency and County desire to provide for Agency
payments to the County from tax increment received by the Agency
pursuant to Health and Safety Code Section 33670 which payments
are necessary to alleviate the financial burden or detriment to
the County.
THEREFORE, Agency and County agree as follows:
1. Annual Payment. From the tax increment paid to the
Agency pursuant to Health and Safety Code Section 33670, the
Agency shall pay County on an annual basis the following amounts:
a. An amount equal to the annual increment allocation
factor for the County multiplied by the amount paid to the
Agency pursuant to subparagraph 2(b) of the Fiscal Agreement of
even date herewith between the Agency, County and other parties
("Fiscal Agreement"); plus
b. An amount equal to the annual increment allocation
factor for the County multiplied by the amount paid into the
reserve fund pursuant to the School District Agreement of even
date herewith between the Agency, the San Rafael Elementary
School District, the San Rafael High School District and the
Marin Community College District ("School District Agreement").
2. Priority and Claims. The Agency shall claim the amount
owing to County in a particular year pursuant to paragraph 1
above as indebtedness to be paid with tax increment. The amounts
the Agency is to pay County pursuant to paragraph 1 shall be
paid only from tax increment received by the Agency and shall
only be paid to the extent the Agency receives tax increments in
excess of the amounts specified in subparagraphs 2(a) and (b) of
the Fiscal Agreement.
3. Payment of Funds. The Agency shall pay from the Agency's
Tax Trust Fund any amount owing to the County under this agree-
ment in semi-annual installments, when the tax increment is
received by the Agency pursuant to Health and Safety Code Section
33670. Upon making a payment, the Agency shall provide the
County with a statement setting forth the amounts paid to the
County in the manner in which such amounts were calculated.
The provisions of this paragraph 3 shall not preclude the
County from disputing the amounts paid by the Agency or the
manner in which said amounts were calculated in the event the
amounts paid or manner of calculation are in violation of this
agreement.
SAN RAFAEL REDEVELOPMENT AGENCY
Lo
COUNTY OF MARIN
-2-
EXHIBIT B
SECTION 33401 AGREEMENT
(SCHOOL DISTRICT)
This agreement is made this of
1984, by and between the San Rafael Redevelopment Agency
("Agency") and the San Rafael Elementary School District, San
Rafael High School District and the Marin Community College
District (collectively "Districts") with reference to the
following facts:
1. The Agency's Central San Rafael Redevelopment Project
has and will continue to cause a financial burden or detriment to
the Districts.
2. The Agency and the Districts desire to provide for
Agency contingent payments to the District from tax increment
received by the Agency pursuant to Health & Safety Code Section
33670 which payments are necessary to alleviate the financial
burden to the Districts.
THEREFORE, Agency and Districts agree as follows:
1. Establishment and Funding of Reserve Fund. From the
tax increment payable to the Agency pursuant to Health &
Safety Code Section 33670, the Agency shall each fiscal year pay
into a reserve fund an annual amount equal to the total amount
of tax increment generated from the Central San Rafael
Redevelopment Project project area for that particular fiscal
year less the sum of the payments made pursuant to subparagraphs
2(a), 2(b) and 2(c) of the Fiscal Agreement of even date herewith
between the Agency, Districts and other parties ("Fiscal
Agreement") and the result of that subtraction divided by
1.31487015; provided, however, that the total amount of payments
into the reserve fund shall not exceed $965,844 less interest
earned on the reserve fund.
2. Payments from Reserve Fund. In any year in which
a District suffers a revenue loss as a result of a statutory
change in the formula for determining state subventions to the
District which statutory change in subvention formula causes the
District to lose revenue due directly to the existence of the
Central San Rafael Redevelopment Project and the use of tax
increment financing authorized by the Agency's redevelopment plan
sc
for the Project ("Revenue Loss"), such District shall be entitled
to receive a payment from the reserve fund equal to the lesser of
the amount of the Revenue Loss or an amount equal to the amount
paid to the Agency pursuant to subparagraph 2(b) of the Fiscal
Agreement multiplied by the District Percentage. The District
Percentage for a particular district in a particular year shall
be the percentage of the real property taxes generated from the
Central San Rafael Redevelopment Project project area that would
have been paid to the particular District had the Agency not
adopted the redevelopment plan for the Central San Rafael
Redevelopment Project. In the event that in a particular year
the reserve fund contains insufficient funds to make the payments
to Districts otherwise entitled to such payments, the amount in
the reserve fund shall be allocated and paid to a particular
District otherwise entitled to a payment on the basis of the
percentage calculated by dividing that District's District
Percentage by the sum of the District Percentage of all Districts
otherwise entitled to a payment.
3. Disposition of Reserve Fund. If, after the 18 years
from the date of this agreement, there are funds remaining
in the reserve fund , the reserve shall be distributed to the
Agency for use by the Agency to pay Agency indebtedness including
redemption of Agency bonds then outstanding.
4. Priority and Claims. The Agency shall claim the amount
owing to the reserve fund pursuant to paragraph 1 above as
indebtedness to be paid with tax increment. The amounts the
Agency is to pay to the reserve fund pursuant to paragraph 1
shall be paid only from tax increment received by the Agency and
shall only be paid to the reserve fund to the extent the Agency
receives tax increments in excess of the amounts specified in
subparagraphs 2(a), (b), and (c) of the Fiscal Agreement. The
Agency's obligation to make payments to a District or Districts
pursuant to this agreement shall be limited to funds in the
reserve fund.
5. Administration of Funds. The reserve fund shall be
held and administered by the Auditor -Controller of the
County of Marin or any other person or entity acceptable to the
parties. The funds in the reserve fund shall be invested upon
the instructions of the Agency and any interest or other return
earned on such investment shall become part of the reserve fund.
The Auditor -Controller or other administrator of the reserve fund
shall make payments from the fund to a party entitled thereto no
earlier than 30 days following receipt of a certified statement
from such party. The statement shall set forth the amount to be
paid, the manner in which such amounts were calculated, and the
circumstances that give rise to the right to a payment. The
:WM
party submitting such a statement shall also provide copies to
the other parties to this agreement. The provisions of this
paragraph shall not preclude any party to this agreement from
disputing a payment made or the manner in which the amount of
such payment was calculated in the event the payment or manner of
calculation is in violation of this agreement.
SAN RAFAEL REDEVELOPMENT
AGENCY
By
SAN RAFAEL HIGH SCHOOL
DISTRICT
By
MARIN COMMUNITY COLLEGE
DISTRICT
By
SAN RAFAEL ELEMENTARY SCHOOL
DISTRICT
By
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� EXHIBIT C
LIS', JF PROPOSED REDEVELOPMENT PROJECTS
This is a list of activities contemplated by the San Rafael
Redevelopment Agency to be undertaken pursuant to the implementa-
tion of the second major phase of the Central San Rafael Redevelop-
ment Project Plan.
1. Creation of an East Fourth Street beau-
tification project between Lincoln and
Mary; some improvements to include land-
scaping and beautification, removal of
some on -street parking, and special
street and sidewalk surface treatment
2. Drainage and signal improvements on
Fourth Street at Lincoln ($83,000) and
Tamalpais ($57,000).
3. Facilitation of further develop-ent in
the V est Francisco area to improve
drainage facilities by co-pletion of
Phase II of the Storm Drainage Raster
Plan.
4. Re -location of the Rossi Luno station to
include land accuisition, constr;:ction
and drainage pipe.
5. Construction of m.iscell=-neons drainage
improvements in the West Francisco g
Boulevard area.
6. Drainage improve-er.ts End Fu -:p sration
construction at Lindaro Street to
include installation of e:-ergency
generator.
7. To extend West Francisco Boulevard
fror Second Street to Third Street
adjacent to the transportation center.
8• Signalization of Second and Th'_rd
Streets at Francisco Boulevard i•;est
extension.
9. To extend Andersen Drive from Bellar
Boulevard to A Street to include right-
of-way acquisition, des_c and
construction. r
10. ?-.cq,__sition and develop -ant of a park-
ing lot on West Frouth S`reet.
11 • Provice a development fund for lo',,; and
moderate income tiousinc.
Est. Cost $ 330,000
Est. Cost $ 140,000
Est. Cost $
70,000
Est. Cost $1,000,000
Est. Cost $ 450,000
Est. Cost $ 525,000
Est. Cost $1,500,000
Est. Cost $ 200,000
Est. Cost $5,000,000
Est. Cost $
Est. Cost $
300,000
500,000
lor
,
12. To provide -�veloprnent assistance
- fund in the junt of 5800,000 to
acquire privately owned parcels for
assemblage purposes as well as to
acquire parcels individually for future
private development. Said funds would
also be provided for the demolition of
existing structures for site prepara-
tion in accordance with disposition
agreements to sell the land to a private
developer, as well as funds to provide
the necessary on and off-site require-
ments to make the specific project
feasible
13. To provide an administrative fund to
cover operational and administrative
costs for an eight-year period in the
amount of $150,000 annually.
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Est. Cost $ 800,000
Est. Cost $1,200,000
TOTAL COST $12,015,000