HomeMy WebLinkAbout12/01/1992, C-11 - CITY ACCEPTANCE OF AN AGREEMENT WITH THE COUNTY OF SAN LUIS OBISPO REGARDING THE PROPERTY TAX REVENUES AND ANNUAL TAX INCREMENT FOR THE STONERIDGE II ANNEXATION. Ill�iul�glll�llllllllllllpi�l II� f MEETING DATE:
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COUNCIL AGENDA REPORT ITEM NUMBER:
FROM: Arnold B. Jonas, Community Development Director; o
By: Pam Ricci, Associate Planner
SUBJECT:
City acceptance of an agreement with the County of San Luis Obispo
regarding the property tax revenues and annual tax increment for
the Stoneridge II Annexation.
CAO RECOMMENDATION:
Adopt a resolution accepting the negotiated exchange of property
tax revenues and annual tax increment that is required as a
prerequisite to any jurisdictional change, pursuant to the Revenue
and Tax Code Section 99.
DISCUSSION
Situation/Previous Review
On July 21, 1992, the City Council approved a general plan
amendment, prezoning and preliminary development plan for the
Stoneridge II Annexation and Subdivision. The Council at the same
meeting adopted a resolution initiating processing of the
annexation with the Local Agency Formation Commission (LAFCo) .
On November 3, 1992, the San Luis Obispo County Board of
Supervisors initiated a 30-day period for negotiation of exchange
of property tax revenues and annual tax increment for the
Stoneridge II Annexation. Prior to final LAFCo action on the
Stoneridge II Annexation, the City Council needs to adopt a similar
resolution acknowledging the negotiated agreements between the City
and the County related to property tax revenues and annual tax
increment.
The terms of the proposed agreement will result in the City
receiving incremental property tax revenues from the Stoneridge II
area at a rate of 17.120965 percent, identical to the percentage
amount we receive throughout the rest of the incorporated area.
This is the County's standard tax sharing policy regarding newly
annexed areas.
ALTERNATIVES
Continue and direct the staff to further negotiate with the County
over desired terms of the property tax revenue distribution
associated with the annexation.
Attached: Draft Resolution
RESOLUTION NO. (1992 Series)
A RESOLUTION OF THE COUNCIL OF THE. CITY OF SAN LUIS
OBISPO ACCEPTING NEGOTIATED EXCHANGE OF PROPERTY TAX
REVENUE AND ANNUAL TAX INCREMENT BETWEEN THE COUNTY OF
SAN LUIS OBISPO AND THE CITY OF SAN LUIS OBISPO FOR THE
STONERIDGE II ANNEXATION (SLO COUNTY ANNEXATION #39)
BE IT RESOLVED by the Council of the City of San Luis
Obispo, that:
WHEREAS, in the case of a jurisdictional change which
will alter the service area or responsibility of a local agency,
Revenue and Taxation Code Section 99 (b) requires that the amount
of property 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, when a city is involved, the negotiations are
conducted between the City Council and the Board of Supervisors
of the County; and
WHEREAS, Revenue and Taxation Code Section 99 (b)
requires that each local agency, upon completion of negotiations,
adopt resolutions whereby said local agencies agree to accept the
negotiated exchange or 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 property tax
revenues by transmitting a copy of said resolution to him and the
Resolution No. (1992 Series)
Page 2
County Auditor shall therefore make the appropriate adjustments
as required by law; and
WHEREAS, the negotiations have taken place concerning
the transfer of property tax revenues and annual tax increment
between the County of San Luis Obispo and the City of San Luis
Obispo pursuant to Section 99 (b) for the jurisdictional change
designated as Annexation No. 39 to the City of San Luis Obispo
(Stoneridge II) ; and
WHEREAS, the negotiating parties, to wit: Paul Hood,
Principal Administrative Analyst, County of San Luis Obispo, and
Ken Hampian, Assistant City Administrative Officer, have
negotiated the exchange of property tax revenue and annual tax
increment between such entities as hereinafter set forth; and
WHEREAS, it is in the public interest that such
negotiated exchange of property tax revenues and annual tax
increment be consummated.
NOW, THEREFORE, BE IT RESOLVED by the Council of the
City of San Luis Obispo, as follows:
1. That the recitals set forth above are true,
correct, and valid.
2. That the City of San Luis Obispo agrees to accept
the following negotiated exchange of property tax revenues and
annual tax increment:
C'�/3
Resolution No. (1992 Series)
Page 3
(a) Property tax revenues in the amount of
$ 0 shall be transferred from the County of San Luis Obispo
to the City of San Luis Obispo in the fiscal year 1993-94.
(b) Annual tax increment in an amount to be
determined by the County Auditor, based upon the following
percentage agreed to by the negotiating parties, 17 . 120965
percent, shall be transferred from the County of San Luis Obispo
to the City of San Luis Obispo in the fiscal year 1993-94 and
each fiscal year thereafter.
3. Upon receipt of a certified copy of this
resolution and a copy of the recorded certificate of completion,
the County Auditor shall make the appropriate adjustments .to
property tax revenues and annual tax increments as set forth
above.
4. That 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.
On motion of ,
seconded by and on
the following roll call vote.:
AYES:
NOES:
ABSENT:
Resolution No. (1992 Series)
Page 4
the foregoing resolution was passed and adopted this day
of 1992.
Mayor
ATTEST:
City Clerk
APPROVED:
City A inistrative Officer
*Atme
Fin nce irector
Community Develo ment Director
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