HomeMy WebLinkAboutR-10885 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 SAN LUIS RANCH ANNEXATIONRESOLUTION NO. 10885 (2018 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 SAN LUIS RANCH ANNEXATION AREA, AS REPRESENTED
IN THE STAFF REPORT AND ATTACHMENTS DATED MAY 1, 2018
WHEREAS, the City of San Luis Obispo, a charter city and municipal corporation, wishes
to move forward with the annexation of the San Luis 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. 80 to the
City of San Luis Obispo (San Luis 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.
Resolution No. 10885 (2018 Series) Page 2
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:
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 2019-20 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 Chair Christianson, seconded by Council Member Pease, and on the
following roll call vote:
AYES: Council Members Gomez, Pease and Rivoire,
Vice Mayor Christianson and Mayor Harmon
NOES: None
ABSENT: None
The foregoing resolution was adopted this 1St day of May 2018.
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May r H di Harmon
ATTEST:
Teresa Purrington
City Clerk
R 10885
Resolution No. 10885 (2018 Series) Page 3
APPROVED AS TO FORM:
istinc 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, this 104--- day of .
Teresa Purrington
City Clerk
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