HomeMy Public PortalAbout82-148 (09-21-82)l
RESOLUTION NO. 82 -148
A RESOLUTION OF THE CITY COUNCIL OF
CITY OF LYNWOOD REGARDING AN AGREEMENT FOR
REIMBURSEMENT OF TAX INCREMENT FUNDS
WHEREAS, the City Council and the Lynwood Redevelopment
Agency held a joint public hearing on November 18, 1980, for the
purpose of considering the approval and adoption of the Amendment
to the Redevelopment Plan for Lynwood Redevelopment Project Area
A (hereinafter referred to as the Redevelopment Plan); and
WHEREAS, the City adopted Ordinance No. 1111 on December
16, 1980, approving and adopting the amended Redevelopment Plan;
and
WHEREAS, Fiscal Review Committee meetings have been
held at which representatives of the County and other affected
taxing entities have expressed concern over the fiscal impact of
the Redevelopment Plan as amended and the anticipated allocation
of tax increment money to implement the Plan as amended; and
WHEREAS, the diversion of tax increments to the Agency
as a result of the implementation of the Amendment as proposed
could cause financial burden or detriment to the County and
other affected taxing entities; and
WHEREAS, an Agreement has been prepared which seeks to
amicably resolve any differences regarding the Amendment;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of
the City of Lynwood as follows:
SECTI 1. That the Agreement attached as Exhibit 1
is hereby approved.
SECTION 2 . That the Mayor is hereby authorized to
execute said Agreement.
PASSED, APPROVED AND ADOPTED this 21St day of
Septamhar 1982.
LOUIS A. THOMPSON, May r
City of Lynwood
ATTEST:.-
/'J 4
ANDREA L. HOOPER, City Clerk
City of Lynwood I —
APPRO AS TO FORM:
DAVE MC
kN
City Attorney
APPROVED AS TO CONTENT:
A D
- RA M. READ, Director
Community Development
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned, Citv Clerk of the Citv of
Lynwood, do hereby certify that the foregoing resolution
was passed and adopted by the City Council of the City of
Lynwood at a regular meetinq held on the
21st day of September , 1982.
AYES: Councilmen Byork, Green, Morris, Rowe, Thompson
NOES: None
ABSENT: None
City Clerk, City of Lynwood