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12/24/03 LES <br /> <br />ORDINANCE NO. NS-2641 <br /> <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY <br />OF SANTA ANA AMENDING THE NORTH HARBOR, <br />SOUTH HARBOR, AND SOUTH MAIN REDEVELOPMENT <br />PLANS OF THE CITY OF SANTA ANA TO EXTEND THE <br />TIME LIMIT IN EACH PLAN FOR THE INCURRENCE OF <br />DEBT TO COINCIDE WITH THE EFFECTIVENESS OF <br />SAID PLANS <br /> <br />THE CITY COUNCIL OF THE CiTY OF SANTA ANA DOES ORDAIN AS <br />FOLLOWS: <br /> <br /> SECTION 1: The City Council of the City of Santa Ana hereby, finds, <br />determines and declares as follows: <br /> <br /> A. California Health & Safety Code Section 33333.6(a) & (b), part <br />of the Community Redevelopment Law, was amended by Assembly Bill <br />1290 in 1993 to impose time limits on incurring debt, receipt of tax <br />increment and effectiveness of the plan. The outside time limit for <br />incurring debt under AB 1290 for plans adopted prior to 1994 was the later <br />of 20 years after plan adoption or January 1, 2004, <br /> <br /> B, Senate Bill 211 (effective January 2002) permits the <br />amendment of a pre-1994 plan to completely delete the debt incurrence <br />deadline, with the result that an agency can incur debt under such a plan <br />up to the deadline for the effectiveness of the plan. <br /> <br /> C. The City of Santa Ana wishes to utilize the procedure set forth <br />in California Health and Safety Code section 33333.6(e)(2) to extend the <br />date that debt can be incurred in three of its six redevelopment plans so <br />that the Redevelopment Agency can incur new debt until the end of the <br />active life of the each of these three project areas so that the Agency can <br />continue to meet its long term goals and objectives. <br /> <br /> D, The City of Santa Ana is cognizant that under Health and Safety <br />Code section 33607.7, by adopting this ordinance amending the <br />redeveloPment plans in order to eliminate the debt incurrence time limit, <br />the Redevelopment Agency will be required to pay the statutory pass- <br />through payments to each affected taxing entity with which the Agency <br />does not already have a pre-1994 pass-through agreement. <br /> <br />Page1 11 .A. <br /> <br /> <br />