FINAL REPORT - San Bernardino Superior Court

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Section 5: SCLAA Bond Expenditures Restrictions on Use of Tax Revenue Raised on GAFB Parcels As illustrated in Chart 5.1 below, the VVEDA JPA requires that all tax increment revenues from the GAFB parcels be allocated for use on GAFB with the understanding that Victorville, acting as the SCLAA Board, shall set aside 20 percent of these revenues for low and moderate-income housing purposes. Restrictions on Use of Tax Revenue Raised in Member Jurisdictions’ Territories As illustrated in Chart 5.2 below, the VVEDA JPA places several stipulations on the allocation of tax increment revenue that is raised within individual member jurisdictions’ territories of the VVEDA project area. The VVEDA JPA specifically states that: • The first 20 percent of participating jurisdictions’ tax increment revenues shall be set aside for low and moderate income housing purposes and will be allocated for use by each member jurisdiction in its own portion of the VVEDA project area. VVEDA JPA Stipulations on Use of “Net Revenues” As illustrated in Chart 5.2 below, the VVEDA JPA states that the tax revenues raised from within individual member jurisdictions’ territories, after the first 20 percent is allocated to low and moderate income housing, shall be referred to as the “net revenues.” The VVEDA JPA places the following stipulations on net revenues: • 40 percent of net revenues shall be allocated solely for use on the GAFB parcels; • 40 percent of net revenues shall be allocated for use in the originating member’s territory within the VVEDA project area; • 20 percent of net revenues shall be placed into a separate reimbursement fund of the VVEDA and shall be paid out annually at the commencement of each fiscal year for eligible reimbursements to each member in proportion to the outstanding balance of any prior contributions. After such reimbursements are made, such moneys may be used to reimburse member contributions. 5-3 Harvey M. Rose Associates, LLC
Section 5: SCLAA Bond Expenditures Chart 5.1 Allocation of VVEDA Tax Increment Revenue from GAFB (SCLA) Parcels TAX REVENUE FROM GAFB (SCLA) PARCELS 20% LMI Housing 80% GAFB Redevelopment (SCLA) Harvey M. Rose Associates, LLC 5-4
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FINAL REPORT COUNTY OF SAN BERNARDI
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EDITORIAL COMMITTEE From left to ri
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Honorable Ronald M. Christianson, P
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2011-2012 GRAND JURY SAN BERNARDINO
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TABLE OF CONTENTS 2011-2012 GRAND J
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CITIES/SPECIAL DISTRICTS COMMITTEE
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2011‐2012 San Bernardino County G
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May 15, 2012 Ted Burgnon, Foreman a
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Executive Summary Harvey M. Rose As
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Executive Summary year to prevent b
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Executive Summary never completed a
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Executive Summary purposes that dir
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Introduction Harvey M. Rose Associa
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Introduction Victorville was establ
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Introduction Exhibit 1 City of Vict
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Introduction boundaries of the Vict
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Introduction The SCLAA operated und
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Section 1: Financial Condition In t
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Section 1: Financial Condition Tabl
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Section 1: Financial Condition Cash
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RESPONSE ACCOUNTABILITY COUNTY OF S
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FINAL REPORT - San Bernardino Superior Court

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