HomeMy WebLinkAboutR-11246 accepting a negotiated exchange of Tax Revenue and Annual Tax Increment for the Froom Ranch Annexation AreaR 11246
RESOLUTION NO. 11246 (2021 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, ACCEPTING A NEGOTIATED EXCHANGE OF
TAX REVENUE AND ANNUAL TAX INCREMENT BETWEEN THE
COUNTY OF SAN LUIS OBISPO AND THE CITY OF SAN LUIS OBISPO
FOR THE FROOM RANCH ANNEXATION AREA, AS REPRESENTED IN
THE STAFF REPORT AND ATTACHMENTS DATED MAY 18, 2021
WHEREAS, the City of San Luis Obispo, a charter city and municipal corporation, wishes
to move forward with the annexation of the Froom Ranch area; and
WHEREAS, the Revenue and Taxation Code Section 99(a)(1) requires that the amount of
tax revenue to be exchanged, if any, and the amount of annual tax increment to be exchanged
among the affected local agencies shall be determined by negotiation; and
WHEREAS, the Revenue and Taxation Code Section 99(b)(6) requires that each local
agency, upon completion of negotiations, adopt resolutions whereby said local agencies agree to
accept the negotiated exchange of property tax revenues, if any, and annual tax increment and
requires that each local agency transmit a copy of each such resolution to the Executive Officer of
the Local Agency Formation Commission; and
WHEREAS, no later than the date on which the certificate of completion of the
jurisdictional change is recorded with the County Recorder, the Executive Officer shall notify the
County Auditor of the exchange of tax revenues by transmitting a copy of said resolutions to him
and the County Auditor shall thereafter make the appropriate adjustments as required by law; and
WHEREAS, the negotiations have taken place concerning the transfer of tax revenues and
annual tax increments between the County of San Luis Obispo and the City of San Luis Obispo
pursuant to Section 99(a)(1) for the jurisdictional change designated as Annexation No. 82 to the
City of San Luis Obispo (Froom Ranch); and
WHEREAS, the negotiating party, to wit: Emily Jackson, Division Manager, County of
San Luis Obispo, on behalf of the County and Michael Codron, Community Development
Director, City of San Luis Obispo, on behalf of the City have negotiated the exchange of tax
revenue and annual tax increments between such entities as hereinafter set forth; and
WHEREAS, it is in the public interest that such negotiated exchange of tax revenues and
annual tax increments be consummated.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of San Luis Obispo
as follows:
SECTION 1. Agreement. The City Council agrees to accept the following negotiated
exchange of base tax revenues and annual tax increment:
Resolution No. 11246 (2021 Series) Page 2
R 11246
1. No base tax revenue shall be transferred from the County of San Luis Obispo to the City
of San Luis Obispo.
2. Annual tax increments shall be transferred from the County of San Luis Obispo to the
City of San Luis Obispo in fiscal year 2022-2023 and each fiscal year thereafter in the
amount of one-third of the increment remaining after transfers to the Educational
Revenue Augmentation Fund (ERAF).
SECTION 2. Transmittal. The City Clerk is authorized and directed to transmit a certified
copy of the resolution to the Executive Officer of the San Luis Obispo Local Agency Formation
Commission, who shall then distribute copies in the manner prescribed by law:
Upon motion of Vice Mayor Stewart, seconded by Council Member Christianson, and on
the following roll call vote:
AYES: Council Member Christianson, Marx, Pease, Vice Mayor Stewart, and
Mayor Harmon
NOES: None
ABSENT: None
The foregoing resolution was adopted this 18th day of May 2021.
____________________________________
Mayor Heidi Harmon
ATTEST:
____________________________________
Teresa Purrington
City Clerk
APPROVED AS TO FORM:
_____________________________________
J. Christine Dietrick
City Attorney
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City
of San Luis Obispo, California, on ____________________________.
____________________________________
Teresa Purrington
City Clerk