JOINT CITY COUNCIL/REDEVELOPMENT AGENCY BOARD AGENDA ITEM: Approval of an Implementing Agreement between the City of Culver City the Culver City Redevelopment Agency and the Culver City Unified School District Relating to Pass Through Payments Authorized by the Third Amended Agreement for Redevelopment Project No. 2. City of Culver City California Agenda Item Report Item Number: J 3 Meeting Date: 02/22/2011 JOINT CITY COUNCIL/REDEVELOPMENT AGENCY BOARD AGENDA ITEM: Approval of an Implementing Agreement between the City of Culver City the Culver City Redevelopment Agency and the Culver City Unified School District Relating to Pass Through Payments Authorized by the Third Amended Agreement for Redevelopment Project No. 2. Contact Person/Dept.: Glenn Heald Community Development Todd Tipton Community Development Fiscal Impact: Yes X No Phone Number: (310) 253 5752 (310) 253 5783 General Fund: Yes No X Public Hearing: Action Item: X Attachments: X Commission Action Required: Yes No X Date: _______________ Public Notification: Meetings and Agendas City Council (02/18/11); Meetings and Agendas Redevelopment Agency (02/18/11); (E Mail) Organizations Culver City Unified School District (02/18/11). Department Approval: Sol Blumenfeld: (02/16/11) City Attorney Approval: Carol Schwab (by H. Baker) (02/18/11) Agency General Counsel Approval: Murray Kane: (02/16/11) City Manager/Executive Director Approval: John M. Nachbar (02/18/11) Chief Financial Officer Approval: Jeff Muir (by N. Kimball) (02/18/11) RECOMMENDATION: Staff recommends the City Council (City Council) and the Redevelopment Agency Board (Agency Board) approve an Implementing Agreement extending specified payments by the Agency to the Culver City Unified School District (District) through July 26 2024. BACKGROUND/DISCUSSION: The formation of Redevelopment Project No. 2 (Project) in 1971 created a condition whereby future increases in property tax revenue collections would not automatically increase the share of such...
Click here for full text