HomeMy WebLinkAbout- - 2nd Reading of RDA Plan Limits - 12/7/2010CITY COUNCIL AGENDA REPORT
MEETING DATE: DECEMBER 7, 2010
ITEM NUMBER:
SUBJECT: SECOND READING OF ORDINANCE 10-16 EXTENDING THE REDEVELOPMENT
PLAN LIMITS OF THE DOWNTOWN REDEVELOPMENT PROJECT
DATE: NOVEMBER 22, 2010
FROM: DEVELOPMENT SERVICES DEPARTMENT
PRESENTATION KIMBERLY BRANDT, DEVELOPMENT SERVICES DIRECTOR AND
BY: REDEVELOPMENT AGENCY EXECUTIVE DIRECTOR
FOR FURTHER INFORMATION CONTACT: KIMBERLY BRANDT (714) 754-5270
RECOMMENDED ACTION
Give second reading to Ordinance No. 10-16, read by title only, and waive further reading.
BACKGROUND
Following recent mandatory ERAF payments by the Costa Mesa Redevelopment
Agency, City Council on November 16, 2010, approved Ordinance No. 10-16. The
ordinance amends the redevelopment plan for the Agency's Downtown Redevelopment
Project extending the time limit of the effectiveness of the Redevelopment Plan, and
extending the time limit that the Agency is authorized to collect tax increment and repay
Agency indebtedness by two years.
CONCLUSION
The attached ordinance is recommended for second reading.
KIMBERLY BRANDT
Development Services Director
And Redevelopment Agency Executive Director
Attachments: 1. Ordinance No. 10-16
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