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E. Part 1.8 of the CRL ("Part 1.8") provides for the restriction of activities and authority of <br />the Agency in the interim period prior to dissolution to certain "enforceable obligations" <br />and provides for actions required for the general winding up of affairs, preservation of <br />assets, and certain other goals delineated in Part 1.8. <br />F. Part 1.9 of the CRL ("Part 1.9") provides that an Agency may continue in operation if a <br />city or county that includes a redevelopment agency adopts an ordinance agreeing to <br />comply with and participate in the Alternative Voluntary Redevelopment Program <br />established in Part 1.9 ("Program"). The City Council has enacted or concurrently with <br />this Conditional Agreement is enacting, an ordinance to comply with Part 1.9 <br />G. Those cities or counties electing to participate in the Program, as a condition of its <br />redevelopment agency's continued existence and operation, are required to make certain <br />annual remittances ("Program Remittances") to the county auditor-controller pursuant to <br />Chapter 3 of Part 1.9, beginning with an larger upfront remittance for the 2011-2012 <br />fiscal year ("First Remittance"), to be paid in two equal installments on January 15, 2012 <br />and May 15, 2012. <br />H. The Agency will have sufficient funds and revenues to fund an amount equal to the <br />City's payment of the First Remittance and expects to have funds and revenues sufficient <br />to fund amounts equal to the subsequent annual remittances required by Part 1.9. <br />The City and Agency desire to enter into this Agreement pursuant to CRL Section <br />34194.2 whereby the Agency shall transfer portions of Tax Increment to the City in an <br />amount equal to the First Remittance, and thereafter to transfer amounts of Tax Increment <br />equal to any subsequent remittance which the City is required to make to the county <br />auditor-controller pursuant to the City's participation in the Program. <br />AGREEMENTS <br />The Agency shall be liable to City for the payment of the Program Remittances in <br />connection with the City's participation in the Program. The Agency agrees that no later <br />than fifteen (15) days prior to the date upon which the City shall be statutorily required to <br />make any full or partial payment of a Program Remittance, the Agency shall transfer <br />2 <br />EXHIBIT 1 <br />25B-4