Laserfiche WebLink
ti <br /> TRANSFER AGREEMENT <br /> This TRANSFER AGREEMENT (this "Agreement") is dated as of the effective <br /> date below, by and between the Rancho Palos Verdes Redevelopment Agency, a public <br /> body, corporate and politic (the "Agency"), and the City of Rancho Palos Verdes, a <br /> municipal corporation (the "City"). <br /> RECITALS <br /> A. The Agency (the "Agency") is a redevelopment agency in the City, created <br /> pursuant to the Community Redevelopment Law (Part 1 (commencing with Section <br /> 33000) of Division 24 of the California Health and Safety Code) (the "Redevelopment <br /> Law"). <br /> B. The City Council of the City (the "City,Council") adopted Ordinance No. <br /> 190, approving and adopting the redevelopment plan for Project Area No. 1, and from <br /> time to time, the City Council has amended such redevelopment plan. The Agency is <br /> undertaking a program to redevelop the Project Area. <br /> C. AB X1 26 was signed by the Governor of California on June, 29, 2011, <br /> making certain changes to the Redevelopment Law, including adding Part 1.8 <br /> (commencing with Section 34161) and Part 1.85 (commencing with Section 34170) to <br /> Division 24 of the California Health and Safety Code. Commencing upon the <br /> effectiveness of AB X1 26, AB X1 26 suspends most redevelopment agency activities <br /> and, among other things, prohibits redevelopment agencies from incurring indebtedness <br /> or entering into or modifying contracts. Effective October 1, 2011, AB X1 26 dissolves <br /> all existing redevelopment agencies and redevelopment agency components of <br /> community development agencies, designates successor agencies to the former <br /> redevelopment agencies, and imposes numerous requirements on the successor <br /> agencies and subjects successor agency actions to the review of oversight boards <br /> established pursuant to the provisions of Part 1.85. <br /> D. AB X1 27 was signed by the Governor of California on June 29, 2011, <br /> adding Part 1.9 (commencing with Section 34192) to Division 24 of the California Health <br /> and Safety Code. Part 1.9 establishes an Alternative Voluntary Redevelopment <br /> Program (the "AVRP")whereby, notwithstanding the provisions of Part 1.8 and Part <br /> 1.85, a redevelopment agency will be authorized to continue to exist and carry out the <br /> provisions of the Redevelopment Law upon the enactment, prior to the applicable <br /> deadline established in Part 1.9, by the city council of the city which includes that <br /> redevelopment agency (the "Participating City"), of an ordinance to comply with Part <br /> 1.9. <br /> E. Part 1.9 requires a Participating City to make specified annual remittances <br /> to the applicable county auditor-controller, who shall allocate the remittances for deposit <br /> into a Special District Allocation Fund, for allocation to specified special districts, and <br /> into the county Educational Revenue Augmentation Fund, for allocation to educational <br /> entities. <br />