09-28-2004 CC RPT 30 - Laserfiche WebLink

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"People Serving People" CITY OF RIVERSIDE City Council Memorandum Riverside 1998 HONORABLE MAYORAND CITY COUNCIL DATE: September 28, 2004 ITEM NO.: 30 SUBJECT: Annexation 96B - Lurin Avenue BACKGROUND: Annexation 96 originally included approximately 246 acres generally located southerly of Van Buren Boulevard between Chicago Avenue and Barton Street northerly of Lurin Avenue. The annexation was initiated by Sheffield Homes and the property owners to acquire City services for future development with single family dwellings, office and commercial uses (See Exhibit 1 ). On September 18, 2003, the Riverside County Local Agency Formation Commission (LAFCO) approved a portion of the annexation request containing approximately 161 acres. This area has now been annexed into the City as Annexation 96A (See Exhibit 2). LAFCO will consider Annexation 96B on October 28, 2004 (See Exhibit 2). As part of the approval process a resolution determining the amount of property tax revenue to be exchanged between the County of Riverside and the City of Riverside relating to the area within the boundaries of Annexation 96 was adopted by the City Council on April 1, 2003. Since the area of the original annexation has now been divided into Annexation 96A and 96B the Local Agency Formation Commission has determined that the City must adopt a new resolution for property tax revenue exchanged within the boundaries of Annexation 96B to be included as part of the submittal. FISCAL IMPACT: None ALTERNATIVES: The City Council could choose not to adopt the resolution and Annexation 96B will not be considered by LAFCO. RECOMMENDATION: That the City Council adopt the attached resolution (Exhibit 3) determining the amount of property tax revenue to be exchanged between the County of Riverside and the City for Annexation 96B - Lurin Avenue. 30-1