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COUNTY OF SAN MATEO
Inter-Departmental Correspondence
County Manager’s Office
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DATE:
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May 26, 2011
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BOARD MEETING DATE:
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June 7, 2011
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SPECIAL NOTICE/HEARING:
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None
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VOTE REQUIRED:
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Majority
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TO:
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Honorable Board of Supervisors
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FROM:
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David S. Boesch, County Manager
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SUBJECT:
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Property tax revenue exchange between the County of San Mateo and the City of Redwood City for the proposed annexation of properties located at 1250, 1252 and 1254 Edgewood Road
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RECOMMENDATION:
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Adopt a resolution authorizing and agreeing to accept the exchange of property tax revenues between the County of San Mateo and the City of Redwood City for the proposed annexation of the properties located at 1250, 1252 and 1254 Edgewood Road.
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BACKGROUND:
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Revenue and Taxation Code Section 99 requires participating jurisdictions to agree to the amount of property tax transferred as a result of and condition of the Local Agency Formation Commission’s (LAFCo) approval of annexation of property from one jurisdiction to another.
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DISCUSSION:
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LAFCo has sent the County a letter announcing the proposed annexation of the lands at 1250, 1252 and 1254 Edgewood Road to the City of Redwood City. A negotiated agreement has been reached with the City of Redwood City on the transfer of tax dollars. The agreement complies with the Board’s policy of granting a city an amount of property tax that approximates the current average share of property tax of the city receiving the annexed lands. This annexation includes the transfer of fire responsibility to Redwood City from the County and transfer of the Free Library property tax to the City also.
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The property tax increment transfers for tax rate area (073-041) associated with this annexation include:
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From
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To
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Tax Increment
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Free Library
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Redwood City
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0.0396223826
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County Fire District
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Redwood City
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0.0736672198
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County of San Mateo
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Redwood City
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0.0792594363
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This resolution has been reviewed and approved by County Counsel.
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This action contributes to the Shared Vision 2025 of a Collaborative Community by formalizing a land transfer between the County and a city.
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FISCAL IMPACT:
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The total amount of taxes available for exchange (before the ERAF shift) is $7,593.97. Redwood City will receive about $2,400. The amount both jurisdictions will receive is expected to increase with the anticipated development of the subject properties.
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