Title
Final Passage of Ordinance Conveying Approximately 20 Acres of Property from the City of Alameda to the City of Alameda Housing Authority at the Former Naval Air Station Alameda (Alameda Point). (City Manager/City Attorney)
Body
CITY OF ALAMEDA ORDINANCE NO. _____
New Series
APPROVING CONVEYANCE OF APPROXIMATELY 20 ACRES OF PROPERTY FROM THE CITY OF ALAMEDA TO HOUSING AUTHORITY OF THE CITY OF ALAMEDA AT THE FORMER NAVAL AIR STATION (ALAMEDA POINT)
WHEREAS, the City of Alameda is party to an agreement with the Alameda Unified School District ("District") dated March 28, 2000, relating to closure of the Alameda Naval Air Station and Fleet Industrial Supply Center (the "Mastick Agreement"); and
WHEREAS, the City and Housing Authority of the City of Alameda ("Authority") together as successors to the Community Improvement Commission of the City of Alameda ("Redevelopment Agency"), and the District are parties to an agreement pursuant to Health and Safety Code Section 33401 dated November 12, 1991, relating to redevelopment tax increment pass-through payments (the "Pass-Through Agreement") to mitigate the financial impact to the District resulting from the diversion of certain real property tax revenues (commonly known as "Tax Increment Revenues") to the City's Redevelopment Agency; and
WHEREAS, ABx1 26 and AB1484 ended redevelopment in California and set in place a complex process for dissolving redevelopment agencies and terminating tax increment revenues as a result of which, continued implementation of the Pass-Through Agreement is uncertain and within the control of the State of California Department of Finance ("DOF"); and
WHEREAS, the DOF has determined that an account accumulated pursuant to the Pass-Through Agreement totaling approximately $4.6 Million (the "Housing Asset Fund") held by the Authority (as the successor housing agency)in trust for the District is a "housing asset" as defined...
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