Laserfiche WebLink
has found are necessary and appropriate to <br /> alleviate any financial burden or detriment caused <br /> to such affected taxing agency by a redevelopment <br /> project; and <br /> <br />WHEREAS, the City Council has reviewed and considered the <br /> Report of the Fiscal Review Committee, dated <br /> November 23, 1988, which concludes that the Project <br /> will cause a financial burden on the County, the <br /> Park District and the Superintendent as identified <br /> therein, together with the Agency's analysis <br /> thereof in the Addendum to the Report to the City <br /> Council, dated December 6, 1988; and <br /> <br />WHEREAS, the City Council acknowledges that it is the <br /> intention of the Agency to pay to the County, the <br /> Park District and the Superintendent, individually, <br /> such amounts of money which the Agency finds are <br /> necessary and appropriate to alleviate the <br /> financial burden or detriment caused to such <br /> entities, and the Agency is presently negotiating <br /> agreements with them for such purpose; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section 1: The City Council hereby recommends that the <br /> Agency enter into agreements to alleviate the <br /> financial burden or detriment caused to the County, <br /> the Park District and the Superintendent <br /> substantially in the manner set forth and described <br /> as "Mitigation Measures" in the Addendum to the <br /> Report to the City Council (pp.5-6), such <br /> agreements to also contain the following: <br /> <br /> a. Appropriate language subordinating the <br /> payments to the particular taxing entity to <br /> any bonds, notes or any other borrowing <br /> instruments which will enable the Agency to <br /> borrow monies which are secured by the tax <br /> increments not required to be paid to such <br /> entity under the agreement. <br /> <br /> b. An agreement by such entity to not file <br /> litigation challenging the validity of the <br /> establishment of the Project Area and/or the <br /> adoption of the Redevelopment Plan and a <br /> provision that if any such litigation is filed <br /> by the entity, the agreement will become null <br /> and void. <br /> <br /> c. Any other provisions approve by the Executive <br /> Director which are either appropriate or <br /> required by law. <br /> <br /> -2- <br /> <br /> <br />