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i <br />AGENCY B®ARD MEETING DATE: <br />AGENCY SECRETARY USE ®NLY: <br />SEPTEMBER 19, 2011 <br />TITLE <br />COOPERATIVE AGREEMENT BETWEEN <br />THE CITY OF SANTA ANA AND THE <br />COMMUNITY REDEVELOPMENT AGENCY <br />PURSUANT TO ABX1 27 <br />FILE NUMBER <br />INTERI EXECUTIVE DIRECT®R <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 15` Reading <br />^ Ordinance on 2"d Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For <br />CONTINUED TO <br />C E I <br />Authorize the Executive Director and Agency Secretary to execute the attached Cooperative <br />Agreement with the City of Santa Ana (City), subject to non-substantive changes approved by the <br />Executive Director and Agency General Counsel. <br />DISCUSSION <br />On September 6, 2011, the City Council approved a Continuation Ordinance to allow the City the <br />option to "opt in" to the Voluntary Redevelopment Program pursuant to recently passed legislation. <br />In furtherance of the actions the City and Agency have taken to implement the provisions of the <br />legislation (ABX1 27), it is recommended by legal counsel that the proposed Cooperative <br />Agreement between the City and Agency be conditionally approved. This agreement will protect <br />the Agency's interests by allowing the required remittances to the state to be included in the <br />Statement of Indebtedness which is due October 1, 2011. This agreement will only become <br />operational if the Calfornia Supreme Court determines that ABX1 27 is constitutional. <br />Given that Santa Ana's redevelopment efforts significantly contribute to much-needed economic <br />and physical community revitalization, affordable housing development, and the general <br />enhancement of our city, it is recommended that the City and Agency continue to take the <br />necessary steps to implement ABX1 27. <br />3-1 <br />