Res 12-040RESOLUTION NO. 12 -040
A RESOLUTION OF THE CITY OF POWAY, CALIFORNIA
AS SUCCESSOR AGENCY TO THE POWAY REDEVELOPMENT AGENCY
APPROPRIATING FUNDS MANDATED BY CALIFORNIA HEALTH AND SAFETY
CODE SECTION 34183.5 (AB 1484)
WHEREAS, the California Supreme Court's decision of December 29, 2011
upheld ABX1 26, while moving its implementation date from October 1, 2011 to
February 1, 2012; and
WHEREAS, on January 13, 2012 the City of Poway elected to serve as the
Successor Agency to the Poway Redevelopment Agency; and
WHEREAS, on June 27, 2012 the Governor signed AB 1484 which, among other
actions, reinstated the October 1, 2011 implementation date for ABX1 26; and
WHEREAS, AB 1484 requires successor agencies to return to the counties by
July 12, 2012 the "residual" tax increment received between October 1, 2011 and
February 1, 2012; and
WHEREAS, in accordance with AB 1484, the San Diego County Auditor
Controller issued a demand on July 9, 2012 requiring the City of Poway as Successor
Agency to return "residual" property tax increment received for the period between
October 1, 2011 and February 1, 2012, in the amount of $3,386,234.71; and
WHEREAS, the amount to be remitted may be revised by the Auditor Controller if
the State Department of Finance revises its estimates; and
WHEREAS, the City of Poway as Successor Agency must remit the amount due
by July 12, 2012 or, in accordance with Health and Safety Code Section
34183.5(b)(2)(C), it will be subject to civil penalties and prohibited from making
payments for obligations other than bond debt service, and the City will not receive its
distribution of sales and use tax beginning July 18, 2012.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Poway
as Successor Agency to the Poway Redevelopment Agency as follows:
Section 1. The City Council of the City of Poway as Successor Agency finds
and determines that the foregoing recitals are true and correct.
Section 2. Without waiving or limiting its rights under the law, the City of
Poway as Successor Agency hereby appropriates an amount sufficient to meet
the County Auditor Controller's demand, not -to- exceed $4.2 million, from
available funds currently on deposit with the City of Poway as Successor Agency
for the purpose of meeting the requirements of AB 1484; and
Resolution No. 12 -040
Page 2
Section 3. Without limiting the reservation of rights provided in Section 2
above, the City Manager, or designee, is hereby authorized to take such actions
as are necessary and appropriate to comply with the requirements of AB 1484,
including payment of "residual" property tax increment to the County upon
demand by the San Diego County Auditor Controller.
PASSED, ADOPTED, AND APPROVED by the City Council of the City of Poway
as Successor Agency to the Poway Redevelopment Agency at an adjourned special
meeting this 11th day of July 2012.
ATTEST:
i 7Troyan, da MMC, City Clerk
Resolution No. 12 -040
Page 3
STATE OF CALIFORNIA )
) SS
COUNTY OF SAN DIEGO)
I, Linda A. Troyan, MMC, City Clerk of the City of Poway, do hereby certify under
penalty of perjury that the foregoing Resolution No. 12 -040 was duly adopted by the
City Council at an adjourned special meeting of said City Council held on the 11th day of
July 2012, and that it was so adopted by the following vote:
AYES: BOYACK, MULLIN, GROSCH
NOES: NONE
ABSENT: CUNNINGHAM, HIGGINSON
DISQUALIFIED: NONE