City of Culver City, California
Agenda Item Report
Meeting Date: 07/11/11 Item Number: J-1
JOINT CITY COUNCIL AND REDEVELOPMENT AGENCY BOARD AGENDA ITEM: (1)
City Council Introduction of an Ordinance Opting-in to an Alternative
Redevelopment Program, (2) Agency Board Approval of a Resolution Reducing the
Fiscal Year 2011/2012 Affordable Housing Allocation, and (3) City Council and
Agency Board Approval of an Agreement between the City of Culver City and the
Culver City Redevelopment Agency Providing Funding for the Required Payments.
Contact Person/Dept.:
Sol Blumenfeld, CDD
Todd Tipton, CDD
Phone Number:
(310) 253-5760
Fiscal Impact: Yes [X] No [] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [] Attachments: [X]
Commission Action Required: Yes [] No [X] Date: _______________
Public Notification: (E-Mail) Meetings and Agendas – Redevelopment Agency and City
Council (07/08/11)
Department Approval:
Sol Blumenfeld: (07/06/11)
City Attorney Approval:
Carol Schwab (by H. Baker) (07/07/11)
Agency General Counsel Approval:
Murray Kane: (07/06/11)
Chief Financial Officer Approval:
Jeff Muir /07/07/11)
City Manager/Executive Director Approval:
John M. Nachbar (07/07/11)
RECOMMENDATION:
Staff recommends that the City Council introduce an ordinance to opt-in to an
alternative redevelopment program, that the Agency Board adopt a resolution
reducing the Fiscal Year 2011/2012 Affordable Housing Allocation, and the City
Council and Agency Board approve an agreement between the City of Culver City
and the Culver City Redevelopment Agency to provide funding for the required $12.1
million Opt-In Payment in Fiscal Year 2011/2012.
BACKGROUND:
On June 29, 2011, the Governor signed ABX1 26 and ABX1 27 (collectively the
Bills). ABX1 26 immediately suspends redevelopment agencies’ operations and
effectively dissolves redevelopment agencies statewide. ABX1 27 allows agencies
whose legislative bodies (in the City’s case, the City Council) that are willing to
comply with "voluntary" payments to the State (via the County Auditor-Controller) to
be exempted from the elimination provisions in ABX1 26. The California
Redevelopment Association (CRA) and League of California Cities (League) have
indicated their intent to file lawsuits in either the State Appellate Court or the State
Supreme Court challenging the constitutionality of the Bills.
City of Culver City, California
Agenda Item Report
DISCUSSION:
Agency General Counsel has opined that ABX1 26 and ABX1 27 are unconstitutional
under a number of different theories. Pending action by a Court declaring the contrary
(or the issuance of a stay), the Bills are now law. To best position the City and the
Agency pending resolution of the proposed lawsuit (or the issuance of a stay), Agency
Counsel and the City Attorney have the following recommendations:
To protect the options of the City and Redevelopment Agency going forward and to
guard against possible future actions by the State, Agency General Counsel has
recommended the following actions be taken:
1. CITY COUNCIL: Under the terms of ABX1 27, enact an ordinance to “Opt in” to
make the “voluntary” payments and authorize the City to participate in the
“alternative voluntary redevelopment program”; and,
2. AGENCY BOARD: Adopt a resolution reducing the allocation to the Low and
Moderate Income Housing Fund (Housing Fund) for Fiscal Year 2011/2012 to
facilitate the State payment; and
3. BOTH THE CITY COUNCIL AND AGENCY BOARD: Approve a remittance
agreement between the City and the Agency to establish funding the Opt-In
Payments by the City.
The Opt-In Ordinance, if enacted by the City Council, exempts the Agency from the
immediate suspension of powers it would otherwise be subject to under ABX1 26
(except for existing obligations) as well as avoiding the successor agency and
oversight committees that are part of ABX1 26.
Given the opinion of Agency General Counsel and the City Attorney regarding the
illegality of the Bills, even with enaction of the Opt-In Ordinance, the Opt-In Payment
will be made under protest with a full reservation of rights of the City and Agency.
Additionally, the City retains the options of repealing the Opt-In Ordinance or not
making any future payment (starting with the January 15, 2012 payment); however,
either action would subject the Agency to immediate termination. Thus, Agency
General Counsel concludes that there is no apparent downside to rapid enaction of
the Opt-In Ordinance.
Absent an action by a Court to stay enforcement of the Bills, the City will need to
make a one-time payment to the State of approximately $12.1 million in Fiscal Year
2011-2012 (with one half of the payment due on January 15, 2012 and the other half
on May 15, 2012) and $3 million in payments in Fiscal Year 2012/2013 in addition to
the payment in the on-going years that includes 80 percent of the school district’s
share of any post November 1, 2011 new indebtedness. Thus, staff has assumed City of Culver City, California
Agenda Item Report
the $3 million payments will continue indefinitely. The attached Cash Flow reflects
these payments.
To assist cities that intend to make the Opt-In Payment utilizing Agency funds, the
resolution presented for Agency Board consideration allows a one-time withholding
of the normally required 20% set aside to the Housing Fund. The total amount of the
normal set-aside payment is estimated at $7.6 million in Fiscal Year 2011/2012.
Since existing housing funds cannot be used to make the Opt-In Payment, the
proposed resolution authorizes staff to withhold an amount up to 100% of the normal
set-aside payment ($7.6 million) for Fiscal Year 2011/2012. . Staff has determined
that approximately $3.1 million are required in Fiscal Year 2011/2012 for Housing
operations, administrative and staff costs. Because the 80% funds are less
restricted than 20% set aside funds, staff proposes to use 100% of the withheld
funds as part of the Opt-In Payment and fund the $3.1 million for the Housing
operations from existing 80% funds.
The Agency will use additional unencumbered tax increment proceeds to fund the
remaining portion of the initial payment and subsequent payments.
Staff is presenting a proposed Remittance Agreement to the City Council and
Agency Board for recommended approval. The Remittance Agreement provides the
vehicle by which the City would receive Agency funds for payment of the Opt-In
Payment.
FISCAL ANALYSIS:
Should the City Council decide to make the $12.1 million Opt-In Payment, staff
proposes it will be funded as follows:
§ Withheld Funds $ 7,600,000
§ Existing 80% Tax Increment Funds $ 4,500,000
Total $12,100,000
With the “voluntary” breakdown as indicated above the Agency will be able to fund
all of its proposed Redevelopment and Housing programming this fiscal year and
may allow for the potential to fund other projects related to the cooperation
agreement, and/or new project opportunities that may arise as the development
market continues to improve.
During the budget presentation for Fiscal Year 2011/2012, staff recommended
phasing in the elimination of certain Agency reimbursements to the General Fund
over a four year period starting in Fiscal Year 2012/2013. Funding the Opt-In
Payment in future years requires this assumption to be implemented. Agency
reimbursements to the General Fund would be decreased by an additional $800,000
per year in each year beginning in Fiscal Year 2012/2013, reaching a total of $3.2
million in Fiscal Year 2015/2016. City of Culver City, California
Agenda Item Report
ATTACHMENTS:
1. Proposed Resolution
2. Proposed Ordinance
3. Draft Remittance Agreement
MOTION:
That the City Council:
1. Introduce an ordinance which authorizes the City to (a) participate in the
“alternative voluntary redevelopment program” and (b) make the $12.1 million
“voluntary” Opt-In Payment; and,
2. Approve a Remittance Agreement between the City and the Agency to establish
Agency funding of the “voluntary” Opt-In Payment by the City; and,
3. Authorize the City Attorney to review/prepare the necessary documents; and,
4. Authorize the City Manager to execute such documents on behalf of the City.
That the Redevelopment Agency:
1. Adopt a resolution reducing the allocation to the low moderate income housing
fund by 100% of the amount otherwise required to be deposited into the Low and
Moderate Income Housing Fund (currently estimated at $7.6 million) for Fiscal
Year 2011/2012 to facilitate the payment; and,
2. Approve a Remittance Agreement between the City and the Agency to establish
Agency funding of the “voluntary” Opt-In Payment by the City; and,
3. Authorize the Agency General Counsel to review/prepare the necessary
documents; and,
4. Authorize the Executive Director to execute such documents on behalf of the
Agency.
MEETING DATE: 07.11.11
AGENDA ITEM: Introduction of an Ordinance Opting-in to an Alternative
Redevelopment Program, Approval of a Resolution
Reducing the FY 2011-2012 Affordable Housing
Allocation and Approval of an Agreement between the
City of Culver City and the Culver City Redevelopment
Agency Providing Funding for the Required Payments.
ATTACHMENTS
Pages
1. Ordinance 1-4
2. Resolution 5-7
3. Funding Agreement 8-12
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ORDINANCE NO. 2011-____
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CULVER CITY,
CALIFORNIA, AUTHORIZING THE CITY OF CULVER CITY TO
PARTICIPATE IN THE ALTERNATIVE VOLUNTARY REDEVELOPMENT
PROGRAM, SUBJECT TO CERTAIN CONDITIONS AND RESERVATIONS
WHEREAS, Assembly Bill X1 26 and Assembly Bill X1 27 (collectively, “AB
26/AB 27”) were passed by the State Legislature on June 15, 2011 and signed by the
Governor on June 29, 2011;
WHEREAS, AB 27 is to be codified as Part 1.9 of Division 24 of the California
Health and Safety Code (“Part 1.9”); and
WHEREAS, AB 27 establishes a voluntary alternative redevelopment
program whereby the Culver City Redevelopment Agency (“Agency”) would be authorized
to continue to exist upon the enactment of an ordinance by the City to comply with the
provisions of Part 1.9; and
WHEREAS, AB 27 requires the City to notify the County Auditor-Controller
(“County”), the State Controller, and the State Department of Finance on or before
November 1, 2011, that the City will comply with Part 1.9; and
WHEREAS, AB 27 requires the City to make specified remittances to the
County in order to continue the existence of the Agency, as prescribed in Part 1.9; and
WHEREAS, AB 27 authorizes the City to enter into an agreement with the
Agency, whereby the Agency would transfer a portion of its tax increment to the City for the
purpose of financing certain activities within the Redevelopment Project Areas, as specified
in Part 1.9; and
WHEREAS, AB 27 imposes specified sanctions on the City in the event that
the City fails to make the required remittances, as determined by the State’s Director of
Finance; and
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WHEREAS, AB 27 authorizes the County to charge a fee that does not
exceed the reasonable costs to the County Auditor-Controller to implement the provisions
of Part 1.9; and
WHEREAS, AB 27 authorizes the City to establish a new redevelopment
agency if its former Agency has been dissolved pursuant to AB 26 only after the debt
obligations of the Agency have been retired and the City satisfies the provisions of Part 1.9;
and
WHEREAS, it is hereby acknowledged by the City Council that the League of
California Cities, the California Redevelopment Association, the City Attorney and special
counsel for the City have respectively opined that certain or all provisions of AB 26/AB 27,
including but not limited to the effective date, violate the State Constitution and other laws
(collectively, the “Laws”), and are invalid and unenforceable; and
WHEREAS, the City Council does not intend, by enactment of this Ordinance,
to waive any constitutional and/or legal rights and, therefore, reserves all of its rights under
the Laws to challenge the validity of any or all provisions of AB 26/AB 27 in any
administrative or judicial proceeding and/or repeal this Ordinance, without prejudice to the
City’s right to recover any amounts remitted under Part 1.9; and
WHEREAS, the City Council does not intend, by enactment of this Ordinance,
to pledge any of the City’s assets, general fund or otherwise, to make the remittance
payments contemplated by Part 1.9, it being understood by the City Council that any
remittance payments will be funded solely from Agency funds and/or assets transferred to
the City in accordance with Part 1.9; and
WHEREAS, the City Council does not intend, by enactment of this Ordinance
to waive any rights of appeal regarding the amount of any remittance established by the
State Department of Finance, as provided in Part 1.9.
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NOW, THEREFORE, the City Council of the City of Culver City, California
DOES HEREBY ORDAIN as follows:
SECTION 1. Authorization to Continue Agency. Subject to Sections 3 and 4,
herein, the City hereby commits to comply with and make the remittances required by Part
1.9, and authorize the continuation of the Agency. Any remittance payments required to be
paid by the City pursuant to Part 1.9 shall be paid solely from Agency funds and/or assets
transferred to the City in accordance with Part 1.9.
SECTION 2. Reservation of Rights. It is the position of the City that certain or
all provisions of AB 26 and AB 27 violate the Laws, as referenced in the recitals, above,
and are invalid and unenforceable. Neither the enactment of this Ordinance, nor the
acknowledgment of or references to any provisions of AB 26/AB 27, nor the City’s payment
of any remittances contemplated by AB 27 shall be deemed to be, nor are they intended
as, an acknowledgment of the validity of AB 26/AB 27, and the City reserves all rights in its
sole discretion to challenge the validity of any or all provisions of AB 26/AB 27 in any
administrative or judicial proceeding and/or repeal this Ordinance, without prejudice to the
City’s right to recover any amounts remitted under Part 1.9.
SECTION 3. Enactment. This Ordinance shall be deemed as “enacted”
within the meaning of Part 1.9 upon the adoption of this Ordinance.
SECTION 4. Authorization of Implementing Actions. The City Manager is
hereby authorized to take any actions necessary to implement this Ordinance and comply
with Part 1.9, including without limitation, providing required notices to the County Auditor-
Controller, the State Controller, and the State’s Department of Finance; entering into any
agreements with the Agency to make the remittance payments; or making any remittance
payments.
SECTION 5. The City Council hereby declares that, if any provision, section,
subsection, paragraph, sentence, phrase or word of this Ordinance is rendered or declared
invalid or unconstitutional by any final action in a court of competent jurisdiction or by
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reason of any preemptive legislation, then the City Council would have independently
adopted the remaining provisions, sections, subsections, paragraphs, sentences, phrases
or words of this ordinance and as such they shall remain in full force and effect.
SECTION 6. Pursuant to Section 619 of the City Charter, this Ordinance
shall take effect thirty (30) days after the date of its adoption. Pursuant to Sections 616 and
621 of the City Charter, prior to the expiration of fifteen (15) days after the adoption, the
City Clerk shall cause this Ordinance, or a summary thereof, to be published in the Culver
City News and shall post this Ordinance or a summary thereof in at least three places
within the City.
APPROVED and ADOPTED this day of 2011.
MICHEÁL O’LEARY, MAYOR
City of Culver City, California
ATTEST: APPROVED AS TO FORM:
MARTIN R. COLE, City Clerk CAROL A. SCHWAB, City Attorney
A11-00344
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RESOLUTION NO. 2011-A____
A RESOLUTION OF THE CULVER CITY REDEVELOPMENT
AGENCY BOARD REDUCING ITS ALLOCATION TO THE
LOW AND MODERATE INCOME HOUSING FUND FOR THE
2011/2012 FISCAL YEAR AND MAKING CERTAIN FINDINGS
AND DETERMINATIONS.
THE CULVER CITY REDEVELOPMENT AGENCY BOARD HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. Health & Safety Code Sections 33334.2 and 33334.3 of
California’s Community Redevelopment Law [Health & Safety Code §§33000, et seq.]
(“CRL”) require the Culver City Redevelopment Agency (“Agency”) to use 20 percent of
taxes allocated to the Agency pursuant to Section 33670 of the CRL (“Tax Increment”) for
the purpose of increasing, improving, and preserving the community’s supply of low and
moderate income housing and to hold such funds in a separate Low and Moderate Income
Housing Fund until used for such purposes (“Low and Moderate Income Housing Fund”).
Section 2. Assembly Bill X1 26 and Assembly Bill X1 27 (collectively, “AB
26./AB 27”) were passed by the State Legislature on June 15, 2011 and signed by the
Governor on June 29, 2011.
Section 3. AB 27 is to be codified as Part 1.9 of Division 24 of the
California Health and Safety Code (“Part 1.9”).
Section 4. AB 26/AB 27 establish a voluntary alternative redevelopment
program whereby the Agency would be authorized to continue to exist upon the enactment
of an ordinance by the City of Culver City (“City”) to comply with the provisions of Part 1.9,
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including payment of an annual remittance to the County Auditor-Controller (“Opt-In
Ordinance”).
Section 5. AB 26/AB 27 authorize the Agency to enter into an agreement
with the City whereby the Agency would transfer a portion of its Tax Increment to the City in
an amount not to exceed the amount of the City’s annual remittance to the County Auditor-
Controller (“Remittance Agreement”).
Section 6. AB 26/AB 27 authorize the Agency to reduce its allocation of
Tax Increment to the Low and Moderate Income Housing Fund for the 2011/2012 Fiscal
Year if the City complies with the provisions of Part 1.9 and the Agency finds that there are
insufficient other moneys to meet its debt and other obligations, current priority program
needs or its obligations under the Remittance Agreement.
Section 7. The Agency Board has reviewed and duly considered the Staff
Report, documents and other written evidence presented at its July 11, 2011 meeting and
hereby determines that it will be in the best interests of the City and the health, safety,
morals and welfare of its residents, and in accord with the public purposes and provisions
of applicable state and local law and requirements, to reduce its allocation of Tax Increment
to the Low and Moderate Income Housing Fund for the 2011/2012 Fiscal Year in an
amount equal to 100% of the amount that would otherwise be placed in the Low and
Moderate Income Housing Fund {currently estimated to be $7,600,000 (“Allocation
Reduction”)}.
Section 8. All other legal prerequisites to the adoption of this Resolution
have occurred.
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Section 9. The Agency Board has received and heard all oral and written
objections pertaining to this matter, and all such oral and written objections are hereby
overruled.
Section 10. The Agency Board hereby finds and determines that the
foregoing recitals are true and correct.
Section 11. Based upon evidence in the record, the Agency Board finds that
there are insufficient other moneys to meet its debt and other obligations, current priority
program needs or its obligations under the Remittance Agreement.
Section 12. The Agency Board finds and determines that it is necessary to
implement the Allocation Reduction for the 2011/2012 Fiscal Year.
Section 13. The Agency Executive Director, or designee, is hereby
authorized to take such actions as are necessary and appropriate to carry out and
implement the Allocation Reduction for the 2011/2012 Fiscal Year upon the City’s
enactment of the Opt-In Ordinance.
This Resolution shall take effect immediately upon its adoption.
APPROVED AND ADOPTED, this day of , 2011.
D. SCOTT MALSIN, Chair
Culver City Redevelopment Agency
ATTEST: APPROVED AS TO FORM:
ALICE PRASAD, Agency Secretary MURRAY KANE, Agency General Counsel
A11-00343
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REMITTANCE AGREEMENT
PURSUANT TO
CALIFORNIA HEALTH AND SAFETY CODE SECTION 34194.2
THIS REMITTANCE AGREEMENT (this “Agreement”) is entered into this 11
th
day of July, 2011, by and between the CITY OF CULVER CITY, a municipal corporation
(the “City”) and the CULVER CITY REDEVELOPMENT AGENCY, a public body,
corporate and politic (the “Agency”), with reference to the following facts:
A. Assembly Bill No. X1 26 and Assembly Bill No. X1 27 (collectively, “AB 26/AB
27”) were passed by the State Legislature on June 15, 2011 and signed by the
Governor on June 29, 2011.
B. AB 27 will be codified as Part 1.9 of Division 24 of the California Health and
Safety Code, commencing with Section 34192 (“Part 1.9”).
C. AB 26 /AB 27 establish a voluntary alternative redevelopment program whereby
the City may choose to continue redevelopment pursuant to Part 1.9, upon the
enactment of an ordinance by the City to comply with the provisions of Part 1.9 and
make certain remittances described in Health and Safety Code Section 34194 to the
County Auditor-Controller.
D. The City Council of the City of Culver City (the “City Council”) has enacted or,
concurrently with this Agreement is enacting,, an ordinance to comply with Part 1.9 (the
“Opt-In Ordinance”); and the effective date of this Agreement shall be contingent upon
the enactment of the Opt-In Ordinance.
E. Pursuant to the Opt-In Ordinance, the City Council has committed to comply with
and make the remittances required by Part 1.9 and authorize the continuation of the
Agency pursuant to AB 26/AB 27.
F. Pursuant to Section 34194.1, in making remittances to the County Auditor-
Controller pursuant to Section 34194 or 34194.5, the City may use any available funds
not otherwise obligated for other uses.
G. Pursuant to Section 34194.2, the City may enter into an agreement with the
Agency, whereby the Agency will transfer a portion of its tax increment to the City, in an
amount not to exceed the annual remittance required that year pursuant to Chapter 3 of
Part 1.9, for the purpose of financing activities within the Redevelopment Project Area
that are related to accomplishing the Agency project goals.
H. The purpose of this Agreement is to provide for the transfer of funds by the
Agency to the City in an amount sufficient for the City to make the remittances required
by Part 1.9 with net available tax increment in this current fiscal year 2011-2012 and
future fiscal years, if such payments are required.
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I. For purposes of this Agreement, the term “Net Available Tax Increment” is
defined as any tax increment funds allocated to the Agency, net of existing debt service
payments and existing third-party contractual obligations, not including any funds on
deposit in the Agency’s Low and Moderate Income Housing Fund, and also not
including any portion of tax increment funds to be allocated to the Low and Moderate
Income Housing Fund pursuant to Health and Safety Code Section 33334.2, 33334.4
and 33334.6 for the 2011/2012 fiscal year only, to the extent the Agency makes a
finding that there are insufficient other moneys to meet its debt and other obligations,
current priority program needs, or its obligation to transfer funds to the City under
Section 34194.2 as provided in this Agreement.
J. The obligations of the Agency under this Agreement shall constitute an
indebtedness of the Agency for the purpose of carrying out the Redevelopment Plan for
each of the Agency’s Redevelopment Project Areas.
NOW, THEREFORE, the parties hereto do mutually agree as follows:
I. INTRODUCTORY PROVISIONS
The recitals above are an integral part of this Agreement and set forth the
intentions of the parties and the premises on which the parties have decided to enter
into this Agreement.
II. OBLIGATIONS OF THE PARTIES
1. The Agency shall transfer to the City in a timely manner Net Tax
Increment or other funds in an amount sufficient for the City to make the remittance
payments required by Part 1.9. The amounts to be transferred to the City shall be
sufficient for the City to pay the remittance amount determined by the State Director of
Finance pursuant to Part 1.9, subject to the City’s right to appeal the amount of
remittance to the Director pursuant to Part 1.9.
2. Subject to receipt of sufficient Net Tax Increment or other funds from the
Agency, the City shall timely remit to the County Auditor-Controller the payments
required by Part 1.9 as provided in the Opt-In Ordinance. The City’s obligation to make
such remittances shall be a special limited obligation of the City payable solely from Net
Available Tax Increment or any other funds made available to the City by the Agency,
including but not limited to amounts previously or subsequently pledged to the City for
payment of Agency expenses that remain unencumbered. Nothing contained in this
Agreement shall be deemed to be a pledge of the City’s general fund revenues or other
assets to make the remittance payments contemplated by Part 1.9, it being understood
that any remittance payments shall be funded solely from Agency funds and/or assets.
3. The obligations of the Agency under this Agreement shall be payable out
of Net Available Tax Increment, as defined in the above recitals and/or as defined or
provided for in any applicable constitutional provision, statute or other provision of law
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|1010|now existing or adopted in the future, levied by or for the benefit of taxing agencies in
the Agency’s Redevelopment Project Area(s), and allocated to the Agency and/or any
lawful successor entity of the Agency and/or any entity established by law to carry out
the redevelopment plan for the Redevelopment Project Area(s) and/or expend tax
increment or pay indebtedness of the Agency to be repaid with tax increment, pursuant
to Health and Safety Code Section 33670 or any applicable constitutional provision,
statute or other provision of law now existing or adopted in the future. In the event that
additional funds are required in order to make the Agency payments to the City required
by this Agreement, the Agency shall make such payments from income received by the
Agency from its projects and programs or any other additional funds available to it.
III. LIABILITY AND INDEMNIFICATION
In contemplation of the provisions of California Government Code Section 895.2
imposing certain tort liability jointly upon public entities solely by reason of such entities
being parties to an agreement as defined by Government Code Section 895, the parties
hereto, as between themselves, pursuant to the authorization contained in Government
Code Sections 895.4 and 895.6, shall each assume the full liability imposed upon it, or
any of its officers, agents or employees, by law for injury caused by negligent or
wrongful acts or omissions occurring in the performance of this Agreement to the same
extent that such liability would be imposed in the absence of Government Code Section
895.2. To achieve the above-stated purpose, each party indemnifies, defends and
holds harmless the other party for any liability, losses, cost or expenses that may be
incurred by such other party solely by reason of Government Code Section 895.2.
IV. ENTIRE AGREEMENT; WAIVERS; AND AMENDMENTS
1. This Agreement shall be executed in duplicate originals, each of which is
deemed to be an original. This Agreement consists of five (5) pages which constitute
the entire understanding and agreement of the parties.
2. This Agreement integrates all of the terms and conditions mentioned
herein or incidental hereto, and supersedes all negotiations or previous agreements
between the parties with respect to the subject matter of this Agreement.
3. This Agreement is intended solely for the benefit of the City and the
Agency. Notwithstanding any reference in this Agreement to persons or entities other
than the City and the Agency, there shall be no third party beneficiaries under this
Agreement.
4. Any waiver or amendment of the provisions of this Agreement must be in
writing and signed by the authorized representatives of the parties.
V. SEVERABILITY
If any term, provisions, covenant or condition of this Agreement is held by a court
of competent jurisdiction to be invalid, void or unenforceable, the remainder of the
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|1010|provisions shall continue in full force and effect unless the rights and obligations of the
parties have been materially altered or abridged by such invalidation, voiding or
unenforceability.
VI. BINDING ON SUCCESSORS
This Agreement shall be binding on and shall inure to the benefit of all
successors and assigns of the parties, whether by agreement or operation of law. This
Agreement shall survive any full or partial merger of the City and the Agency and shall
remain in effect and be fully enforceable according to its terms.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first set forth above.
CITY OF CULVER CITY
By: ________________________
Micheál O’ Leary, Mayor
Attest:
By: ________________________
Martin Cole, City Clerk
Approved as to form:
CAROL SCHWAB
CITY ATTORNEY
By: ____________________________
Carol Schwab, City Attorney
Approved as to form:
KANE, BALLMER & BERKMAN
Special Counsel to the City
By: ____________________________
ATTACHMENT 3
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|1010|CULVER CITY REDEVELOPMENT AGENCY
By: ________________________
D. Scott Malsin, Chair
Attest:
By:____________________________
Alice Prasad, Agency Secretary
Approved as to form:
KANE, BALLMER & BERKMAN
Agency General Counsel
By: ____________________________
ATTACHMENT 3
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