Title
Recommend that the Monterey County Board of Supervisors approve the execution of a Master Taxing Entity Agreement with the City of Seaside, pursuant to Health and Safety code section 34180(f), and authorize the Assistant County Administrative Officer to execute the Agreement. (ADDED VIA ADDENDUM)
Report
RECOMMENDATION:
It is recommended that the Monterey County Board of Supervisors:
a. Approve the execution of a Master Taxing Entity Agreement with the City of Seaside, pursuant to Health and Safety code section 34180(f); and
b. Authorize the Assistant County Administrative Officer to execute the Agreement
SUMMARY/DISCUSSION:
The Successor Agency to the Redevelopment Agency of the City of Seaside (Successor Agency) seeks to enter into a Master Taxing Entity Agreement with the County of Monterey. Entry into this agreement will result in the County receiving a proportional share of tax revenue generated by the sale of specified property, as established by statute, of approximately 2 million dollars.
Seaside Resort Development LLC (the Developer) entered into a development and disposition agreement (DDA), dated July 7, 2005, with the former Seaside Redevelopment Agency (Former Agency). The DDA provides for the development of a hotel and residential project on property consisting of approximately 80-acres located at the northwest corner of General Jim Moore Boulevard and Coe Avenue in the City of Seaside (the site).
Pursuant to Assembly Bill X1 26, enacted in June 2011, the Former Agency was dissolved as of February 1, 2012. The Successor Agency to the Redevelopment Agency of the City of Seaside (Successor Agency) was established. Pursuant to California Health and Safety Code section 34175(b), properties of the Former Agency transferred to the Successor Agency by operation of law, including the site.
As required by state law, the Successor Agency prepared a Long-Range Property Management Plan (LRPMP), which was approved by the California Department of...
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