CC - Item II.E - Resolution 2000-334
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RESOLUTION NO. 2000 -33
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD
ELECTING TO RECEIVE A SHARE OF TAX INCREMENT ALLOCATED
PURSUANT TO THE REDEVELOPMENT PLAN FOR THE ROSEMEAD
REDEVELOPMENT PROJECT AREA NO. 2
WHEREAS, the - Rosemead. Redevelopment Agency (the "Agency ") has proposed the
adoption of a Redevelopment Plan for Rosemead Redevelopment Project Area No. 2 (the
"Plan "); and
WHEREAS, the City Council and Agency have held a joint public hearing on the proposed
Plan to consider comments and testimony on the Plan and on the Report prepared by the
Agency; and-
WHEREAS, the City Council can, by resolution, elect to receive a share of the tax
increment for the first ten years of the Plan as authorized by Health & Safety Code Section
33607.5 (b) equal to 20% of the amount it would have received on the growth in assessed value
in the Project Area.
_ __ NOW,. - THEREFORE, IT IS. HEREBY RESOLVED -by the City Council of the City of
Rosemead as follows:. - - -
Section 1: The City Council elects to receive its prorated share of the tax increment as
authorized by Health & Safety Code Section 33607.5 (b).
- -,--.- ----- Section_2c -T.he- City -Clerk shall. certify -to- the - adoption -of- this - resolution----------- ° - ---- -__v.
_ - PASSED; APPROVED - AND •ADOPTED - this 13th day d June 2000.
- - _ - Mayor.
ATTEST: City of Rosemead
City Clerk
City of Rosemead
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