Meeting Date:   12/12/2016 - 7:00 PM
Category:   Consent Agenda
Type:   Action
Subject:   16.12 (Item #12) Adoption of Resolution No. 16/17-19: Approving Compensation Agreement with the City of Concord
Strategic Plan
Strategic Initiative 5.2 Optimal Operations and Infrastructure
Ensure Fiscal stability and accountability through effective stewardship of financial assets and funding sources.
Policy:  
Enclosure Resolution No. 16/17-19
Proposed Compensation Agreement with the City of Concord
File Attachment:  
Proposed Compensation Agreement City of Concord.pdf
Affected Taxing Entities' Average Increment Allocation Factor.pdf
Resolution 1617-19.pdf
Summary The Proposed Agreement requires the City of Concord to distribute the net proceeds of the sale of each of the four properties to the, “Contra Costa County Auditor-Controller for distribution to the Taxing Entities in accordance with each Taxing Entity’s pro rata share of the Tax Base.” This provision satisfies the Dissolution Law by ensuring that Mt. Diablo Unified School District will receive the percentage of the net proceeds of each sale that corresponds to its percentage share of the tax base, as required by Health and Safety Code section 34188.

The compensation agreement must be approved by each taxing entity so it may need additional approval if another taxing entity requests a change.
Funding N/A
Fiscal Impact N/A
Recommendation Adopt a resolution approving the compensation agreement among Mt. Diablo Unified School District, the other taxing entities, and the City of Concord.
Approvals:  
Recommended By:
Signed By:  
Nance Juner - Director of Fiscal Services
Signed By:  
Wayne Oetken - Business Services
Signed By:  
Larry Schoenke - Legal Counsel
Signed By:  
Dr. Nellie Meyer - Superintendent
Vote Results:  

Original Motion
Member Linda Mayo Moved, Member Brian Lawrence seconded to approve the Original motion 'Adopt a resolution approving the compensation agreement among Mt. Diablo Unified School District, the other taxing entities, and the City of Concord.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0.
The motion CARRIED 5 - 0
   
Linda Mayo     Yes
Joanne Durkee     Yes
Cheryl Hansen     Yes
Brian Lawrence     Yes
Debra Mason     Yes