Section 33333.13 Of Article 4. Preparation And Adoption Of Redevelopment Plans By The Agency From California Health And Safety Code >> Division 24. >> Part 1. >> Chapter 4. >> Article 4.
33333.13
. (a) The Legislature hereby finds and declares that the
Glendora Community Redevelopment Agency's Redevelopment Plan for
Glendora Project Area No. 3, as adopted on November 23, 1976,
contains an unrealistically low dollar limit on the receipt of tax
increment. The Legislature further finds and declares that this limit
severely restricts the ability of the Glendora Community
Redevelopment Agency to address conditions of blight which remain
within its Project Area No. 3.
(b) Notwithstanding any other law to the contrary or any
redevelopment plan previously adopted by the City of Glendora,
commencing in the 2008-09 fiscal year and in each fiscal year
thereafter until the expiration of the time limit on the receipt of
taxes and repayment of indebtedness set forth in a redevelopment plan
adopted by the City of Glendora for its Project Area No. 3 pursuant
to subdivision (b) of Section 33333.6 and other applicable statutes,
the Glendora Community Redevelopment Agency may receive tax increment
revenue from Project Area No. 3, as a separate project area or as
that area may be included in a merged or amended area, in an amount
of up to the greater of either of the following fiscal year:
(1) The sum of two million six hundred dollars ($2,600,000) in
each fiscal year.
(2) In each fiscal year, an amount equal to that amount received
by the agency as gross tax increment for the 2007-08 fiscal year.
(c) The limit on the amount of tax increment that may be received
by the Glendora Community Redevelopment Agency from Project Area No.
3 pursuant to subdivision (b) shall be increased each fiscal year by
the greater of either (1) 2 percent per year, or (2) the average
percentage increase, if any, in the number of dollars of tax
increment received by the Glendora Community Redevelopment Agency in
the fiscal year preceding the fiscal year for which the calculation
is made from each of its other redevelopment project areas with
respect to which tax increment revenues were received.