HomeMy WebLinkAboutRedevelopment Agency - 355 RESOLUTION NO. 355
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON
BEACH ELECTING TO REMIT TO THE CITY OF HUNTINGTON BEACH TRANSIENT
OCCUPANCY TAX REVENUES FOR THE HYATT REGENCY HUNTINGTON BEACH
ALLOCATED TO THE REDEVELOPMENT AGENCY PURSUANT TO
REDEVELOPMENT AGENCY ORDINANCE NOS. I AND 2
WHEREAS, California Revenue and Taxation Code Section 7280.5 permits the
redevelopment agency of any city that has levied a transient occupancy tax pursuant to Section
7280 to adopt an ordinance levying a transient occupancy tax if the city's ordinance entitles any
person subject to the tax under the city's ordinance to credit the amount of taxes due to the
agency against the payment of taxes due under the city's ordinance; and
The City Council of the City of Huntington Beach ("City") has adopted a transient
occupancy tax ordinance consistent with the provisions of Revenue and Taxation Code Sections
7280 and 2780.5; and
The Redevelopment Agency of the City of Huntington Beach (the "Agency") adopted
Ordinance Nos. I and 2 levying a transient occupancy tax pursuant to Revenue and Taxation
Code Section 7280 applicable to the privilege of occupying a room or rooms in a hotel, inn,
tourist home or house, motel, or other lodging located within the entire Main-Pier subarea of the
Huntington Beach Redevelopment Project area; and
The Agency has now determined that the transient occupancy taxes for the Hyatt
Regency Huntington Beach, which is located within the Main-Pier Redevelopment subarea, are
not required to enable the Agency to timely make payments to any developer pursuant to any
outstanding Disposition and Development Agreements and/or Owner Participation Agreements
by and between the Agency relating to redevelopment projects within the Main-Pier
Redevelopment subarea, as the same may be amended from time to time;
Commencing fiscal year 2004/2005, the Agency desires to remit to the City the transient
occupancy tax revenues collected on the occupancy of a room or rooms at the Hyatt Regency
Huntington Beach allocated to the Agency pursuant to Agency Ordinance Nos. l and 2.
NOW, THEREFORE, the Redevelopment Agency of the City of Huntington Beach does
resolve as follows:
SECTION 1. That the transient occupancy taxes applicable to the privilege of occupying
a room or rooms at the Hyatt Regency Huntington Beach are not required to enable the Agency
to timely make payments to any developer pursuant to any outstanding Disposition and
Development Agreements and/or Owner Participation Agreements by and between the Agency
relating to redevelopment projects within the Main-Pier Redevelopment subarea, as the same
may be amended from time to time.
g/05reso/TOT Agency-Hyatt
Resolution No. 355
SECTION 2. That the transient occupancy tax revenues collected on the occupancy of a
room or rooms at the Hyatt Regency Huntington Beach and allocated to the Agency pursuant to
Agency Ordinance Nos. 1 and 2 shall be remitted to the City of Huntington Beach commencing
in fiscal year 2004/2005 and shall continue to be remitted to the City of Huntington Beach until
this Resolution is rescinded.
SECTION 3. This Resolution may be rescinded at any time by the Agency but such
rescission shall not become effective until the first day of the fiscal year commencing after any
such rescission.
PASSED AND ADOPTED by the Redevelopment Agency of the City of Huntington
Beach at a regular meeting thereof held on the Znd day of February 2005.
e
REVIEWED AND APPROVED: APPROVED AS TO FORM:
E cutive Director rA ency Attorney
INITIATED AND APPROVED:
Director of Economic Development
g/05re5o/TOT Agency-FCyatt 2
Res. No. 355
STATE OF CALIFORNIA
COUNTY OF ORANGE ss
CITY OF HUNTINGTON BEACH
1, JOAN FLYNN, Clerk of the Redevelopment Agency of the
City of Huntington Beach, California, DO HEREBY CERTIFY that the
foregoing resolution was duly adopted by the Redevelopment Agency of
the City of Huntington Beach at a regular meeting of said Redevelopment
Agency held on the 22nd day of February 2005 and that it was so
adopted by the following vote:
AYES: Hansen, Coerper, Sullivan, Hardy, Green, Bohr, Cook
NOES: None
ABSENT: None
ABSTAIN: None
CI U of the Redevelopme6fAgency
of the City of Huntington Beach, CA