Title
Approve the execution of an Agreement for Taxing Entity Compensation with the City of Soledad, pursuant to Health and Safety code section 34180(f).
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors approve an Agreement for Taxing Entity Compensation with the City of Soledad, pursuant to Health and Safety code section 34180(f) and authorize the County Administrative Officer, or Assistant Administrative Officer, to execute the Agreement.
SUMMARY:
Pursuant to Assembly Bill 26 from the first 2011-12 Extraordinary Session of the California Legislature, the City of Soledad Redevelopment Agency was dissolved and the City of Soledad Successor Agency became its successor in interest. The City of Soledad Successor Agency, as required by state law, prepared a Long-Range Property Management Plan (LRPMP) which addresses the disposition of property held by the city's former Redevelopment Agency; the LRPMP has been approved by the California Department of Finance. Pursuant to the approved LRPMP, the City of Soledad Successor Agency has conveyed specified real property in the former redevelopment plan area to the City of Soledad for future development.
The City of Soledad is currently in escrow to sell one particular 13.63 acre site (the property) to Richard Scagliotti for private commercial development. The property is located at the southeast corner of Nestles Road and Los Coches Drive; it is being sold for purposes of building a movie theater and associated retail uses. To facilitate the sale of this former redevelopment property, the City of Soledad requests the Board of Supervisors' approval of an Agreement for Taxing Entity Compensation pursuant to Health and Safety Code section 34180(f).
The Agreement addresses the County's pro rata share of prospective revenues from sale the property, both on behalf of the County as a whole and on behalf of Monterey County Free Libraries (MCFL). Under the Agreement, within 30 days after the City of So...
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