Resolution Number CRA 93-12-7-1109
RESOLUTION NO. CRA 93-12-7-1
13NDINGS REGARDING THE AGENCY S ABILITY TO MEET
THE PROPERTY TAX SHIFT UNDER SENATE BILL 1135
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT
AGENCY, MAILING CERTAIN FINDINGS REGARDING THE AGENCY'S ABILITY TO MEET
ITS REQUIRED PROPERTY TAX SHIFT UNDER SENATE BILL 1135
WHEREAS, a Redevelopment Plan for the City of San Juan Capistrano Redevelopment Agency
("Project Area") was approved and adopted by the City Council of the City of San Juan Capistrano ("City") on
July 12, 1983, by Ordinance No. 488, as amended by Ordinance Nos. 509, 547, and 582; and,
WHEREAS, the Community Redevelopment Agency ("Agency") is engaged in activities
necessary and appropriate to carry out such Redevelopment Plan; and,
WHEREAS, the State of California adopted the 1993 Budget Act and related legislation
including Senate Bill 1135 requiring the Agency to shift $107,809 of its tax increment to the Educational Revenue
Allocation Fund by May 15, 1994; and,
WHEREAS, pursuant to Senate Bill 1135, if the Agency is unable to meet its full allocation it
must enter into an agreement with the legislative body for payment of the difference between the full amount
required and the amount available for allocation by the Agency.
NOW, THEREFORE, BE IT RESOLVED, by the San Juan Capistrano Community
Redevelopment Agency Board of Directors, City of San Juan Capistrano, California, as follows:
SECTION L
The Community Redevelopment Agency hereby demonstrates (Exhibit "A") that all tax
increment revenue available for payment of debt service will be necessary to make all required debt service
payments.
SECITON 2
The Agency's Low- and Moderate -Income Housing fund will have $107,809 available to assist
in the payment of the required allocation.
SECTION 3.
The Agency Finance Officer certifies that the Agency is unable to make its allocation from
available tax increment.
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110
The Agency Finance Officer is authorized to loan funds from the Agency's Low- and Moderate -
Income Housing Fund to the Agency's Debt Service Fund for a period not to exceed ten (10) years. This loan
shall be used to make the Agency's allocation payment to the Educational Revenue Allocation Fund.
1993.
PASSED, APPROVED, AND ADOPTED this 7th day of December
CAROLYN NA911, CHAIRMAN
ATTEST:
0—Ow1i �1
+e ,
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, Agency Secretary of the San Juan Capistrano Community
Redevelopment Agency, DO HEREBY CERTIFY that the foregoing is a true and correct copy of Resolution
No. CRA 93-12-7-1 adopted by the San Juan Capistrano Community Redevelopment Agency Board
of Directors at a regular meeting thereof held on the 7th day of December 1993, by the
following vote:
AYES: Directors Jones, Carapbell and Chairman Nash
NOES: None
ABSTAIN: None
ABSENT: Directors Hausdorfer and Vasquez
(SEAL)
CHERYL JOHNSON, AGENCYSECR ARY
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111
Exhibit A
SAN 3UAN CAPISTRANO
COMMUNITY REDEVELOPMENT AGENCY
Statement of Findings
Total Indebtedness As of September 16, 1993
Debt
Funding Sources - 1993-94:
Sale of Land Held for Resale
Amount
Interest
Service
Description
Outstanding
Rate
1993-94
Note Payable
$800,000
9.00%
$72,000
OPA
852,565
0.00%
275,000
Note Payble
817,706
12.00%
-0-
Note Payable
759,360
5.68%
55,813
Note Payable
72,467
12.00%
42,878
Tax Allocation Notes
6,250,000
6.3-6.875%
423,686
Notes Payable
251,441
5.50%
13,829
Notes Payable
5,107,517
8.25%
300,000
Notes Payable
2,710,329
9.00%
180,000
Notes Payable
1,000,000
10.00%
100,000
Agreement Payable
5,804,020
0.00%
-0-
Notes Payable
3,177,959
8.50%
227,224
Notes Payable
1,075,648
8.50%
76,909
Notes Payable
2,983,206
8.50%
213,299
Notes Payable
717,098
8.50%
51,272
Notes Payable
21,393
8.50%
1,530
Notes Payable
21,393
8.50%
1,530
Notes Payable
553,302
8.50%
39,561
Notes Payable
700,000
8.50%
50,050
T2—,12 581
Funding Sources - 1993-94:
Sale of Land Held for Resale
$64,474
Interest Income
22,904
Other Agency Participation
535,813
Rental Income
72,000
Tax Increment
1,4- 2-9, 390
2 124 581
112
Tax Increment Available
Projected Increment $2,272,480
Less: Pass-Thru Agreement - County of Orange (17.196) (388,594)
20% Set -Aside Funds (454,496)
Tax increment Available1 429390
Total Allocation Due $107,809.00
Less: Amount Available from Low and Moderate
Set Aside funds (107,809.00)
Estimated Amount the Agency is unable to fund $ 0=
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss AFFIDAVIT OF POSTING
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, declare as follows:
That I am the duly appointed and qualified Secretary of the San Juan Capistrano Community
Redevelopment Agency;
That in compliance with State laws of the State of California and in further compliance with
CRA Resolution No. CRA 83-12-20-1 and on the 10th day of December 1993, 1 caused to
be posted:
RESOLUTION NO. CRA 93-12-7-1 , being
FINDINGS REGARDING THE AGENCYS ABILITY TO MEET
THE PROPERTY TAX SHIFT UNDER SENATE BILL 1135
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT
AGENCY, MAKING CERTAIN FINDINGS REGARDING THE AGENCY'S ABILITY TO MEET
ITS REQUIRED PROPERTY TAX SHIFT UNDER SENATE BILL 1135
in three (3) public places in the City of San Juan Capistrano, to wit: City Hall; Old Fire Station Recreation Complefq
Orange County Public Library.
CHECK LIST
RES. NO. CRA 15-:a-1_ /
/,Chairman has signed
t,�ecretary has signed
,/figgency Seal stamped
All blanks typed
"Absent" WV ✓
"Noes"
"Abstain"
Copies sent to post 3
file Jl�
mail cer ified
>ci �L cIy
Legal Publication ordered to be published
(da te)
No. Printed copies required ,$
Remarks
Cheryl Johnso ,Aga cY Secretary
San Juan Capistrano Community
Redevelopment Agency
San Juan Capistrano, California
113