HomeMy WebLinkAboutReso 2005-152 - Stillwater Business Park
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. RESOLUTION NO. 2005-152 .
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
PROVIDING FOR THE TRANSFER OF TAX REVENUES
FOR A REORGANIZATION PROPOSAL AND ADDRESSING OTHER
ANCILLARY ISSUES ALL RELATING TO:
STILLWATER BUSINESS PARK ANNEXATION
WHEREAS:
A. Revenue & Taxation Code Section 99, as amended, provides for the City of Redding and
the County of Shasta to determine an appropriate property tax transfer for all jurisdictional changes
or organization occurring within Shasta County prior to the proposal being considered by the Local
Agency Formation Commission (LAFCO).
B. The current distribution of property taxes for the affected properties within the
boundaries of the jurisdictional change or organization identified as Stillwater Business Park
Annexation (shaded portion on Exhibit A) has been determined and provided to each affected
agency.
C. Government Code Section 56842, as amended, requires that non-affected local agencies'
percentage share will remain constant.
D. The affected local agencies' combined tax apportionment factor subject to negotiation
for a tax exchange as a result of the identified reorganization proposal has been determined and
provided to each affected agency. .
E. The City of Redding and the County of Shasta wish to agree to a fair-share distribution"
of property tax revenues.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Redding
does hereby agree to the following distribution of property taxes within the affected area after the
effective date of the identified reorganization:
1. Base Year Property Tax Revenue, as dermed in the Revenue & Taxation Code, shall be
distributed as folllows:
a. To the County of Shasta, 100 percent of the base year property tax allocated to the
County in the fiscal year of the reorganization.
b. To the City of Redding, 0 percent of the base year property tax allocated to the County
of Shasta in the fiscal year of the reorganization.
c. The base year property tax revenue of any dependent special district governed by the
Board of Supervisors for which service responsibilities are being transferred from the
special district to the City of Redding as a result of the organization shaJll be distributed
to the City of Redding.
2 Annual Property tax increment reve~ue, as dermed in the Revenue & Taxation Code,
shall be distributed as follows:
a. To the County of Shasta, 50 percent of the annual property tax increment revenue
allocated to the County in the fiscal year of the reorganization.
b. To the City of Redding, 50 percent of the annual property tax increment revenue
allocated to the County of Shasta in the fiscal year of the reorganization.
c. The annual property tax increment revenue of any dependent special district governed
by the Board of Supervisors for which service responsibilities are being transferred from
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the special dilt to the City of Redding as a result Ae reorganization shall be
distributed to the City of Redding.
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3.
Other Special District Revenues: In recognition of the debt incurred by County Service
Area No. I-Fire Protection for fIre protection and suppression equipment purchased on
behalf of the territory being transferred by the reorganization, the County of Shasta will
continue to receive, until the existing debt is retired, the "Measure B" parcel charge currently
billed to the improved parcels in the reorganization area.
NOW, THEREFORE, BE IT FURTHER RESOLVED that on the following ancillary
issues related to Stillwater Business Park Annexation, the City Council of the City of Redding
supports in concept and states its intention to pursue the following actions:
1. Amending the boundaries of the SHASTEC Redevelopment Project Area (SHASTEC) to
add the area identified in cross-hatching on Exhibit A.
2. For the portion of the area identified on Exhibit A that will be included in SHASTEC, City
intends to forego pass-through property tax increment revenue through fiscal year ending
2041.
3. City intends for proceeds from bond fmancing secured by tax increment from the SHASTEC
Redevelopment Area to be used in support of developing infrastructure for Stillwater
Business Park. Further, ifSHASTEC bonded indebtedness cannot, at any time, be covered
through adequate tax increment, the City of Redding agrees to fund any shortfall necessary
to prohibit negative fmancial impact to the General Fund of the County.
I HEREBY CERTIFY that the foregoing resolution was introduced, read and adopted at
a regular meeting of the City Council of the City of Redding, County of Shasta, State of California,
on the 15th day of November, 2005, by the following vote:
A YES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS: Pohlmeyer, Stegall, and Dickerson
COUNCIL MEMBERS: None
COUNCIL MEMBERS: Murray and Mathena
COUNCIL MEMBERS: None
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DICK DICKERSON, MaYlOIr Pro Tern
Attest:
Form Approved:
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p:\specprojects\stlllwater\shastecannexationarea. mxd
PROPOSED ANNEXATION AREA