HomeMy WebLinkAboutResolution 2001-083D N.C.S. 04/16/2001Resolution No. 2001-083D N.C.S.
of the City of Petaluma, California
ELECTING TO RECEIVE A TAX INCREMENT ALLOCATION
PURSUANT TO HEALTH AND SAFETY CODE SECTION 33607.5
WHEREAS, the City Council of the City of Petaluma is in the process of adopting a Second
Amendment to the Central Business District Redevelopment Plan for the Central Business
District Redevelopment Project Area (the "Project Area"); and
WHEREAS, the City of Petaluma, as an affected taxing agency, may elect to receive apass-
through of its proportionate share of gross tax increment in an amount and for a time set forth in
the California Redevelopment Law, Section 33607.5.
NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Petaluma
hereby elects to receive twenty percent (20%) of gross tax increment for a ten (10) year period
pursuant to California Redevelopment Law, Section 33607.5.
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to
Council of the City of Petaluma at a Regular meeting on April 16, 2001, o f~
by the following voter C•~`
Ci Attorney
AYES: O'Brien, Maguire, Vice Mayor Cader-Thompson
NOES: Moynihan
ABSENT: None ABSTAIN: Healy, rliatt, Mayor Thompson
ATTEST: ~
City~~p~~ d~ ~~~ Mayor