City of Riverside
Redevelopment Agency of the City of
Riverside City of Riverside
2. Date the tax revenue sharing
agreement was executed 7/24/2001 12/4/2002 11/27/2012 1/4/2005 4/21/1998
3. Date the tax revenue sharing
agreement terminated or will
terminate, absent any renewal
Indefinite until terminated by either
party. 6/30/2026
The earlier of: (1) total cumulative
sales and property tax rebate of $4.5
million; or (2) 6/30/2028 11/1/2036 9/2/2024
4. Total Dollar amount of rebated
sales and use tax revenues by each
party to the tax revenue sharing
agreement on or after the date of
execution of the agreement through
and including June 30 of the fiscal
year for which information is being
reported. $1,304,495.54 $6,832,172.69 $208,787.39 $0.00 $11,027,483.36 -
5. Total dollar amount of rebated
sales and use revenues received by
each party to the agreement during
the fiscal year for which information
is being reported $40,855.67 $705,214.00 $52,664.00 $0.00 $394,625.00
6. Percentage of a retailer's sales
and use taxes, if any, used to
calculate or otherwise determine the
rebated sales and use tax revenues
received by each party to the
agreement
15% of all new Sales and or Use Tax
revenue received by the City as a result
of audit and recovery work performed.
This applies to fund transfers received
for back quarter reallocations and
monies received in the first eight
consecutive reporting quarters
following completion of the audit.
For quarters 1-20, 75% of sales tax
received above the base year total; for
quarters 21-40, 62.5% of sales tax
received above the base year; for
quarters 41-80, 50% of sales tax
received above the base year. Base
year amount is $434,108
100% of sales tax received above the
base year total of $11,848
50% of sales tax received above the
base year total of $3,360,000, less any
cumulative shortfall offset below the
base year amount
50% of the incremental local sales tax
revenue above the base year total of
$3,151,148 generated within the
assessment district
7. Percentage of a retailer's sales
and use taxes, if any, used to
calculate or otherwise determine the
rebated sales and use tax revenues
received by any other person that is
not a party to the agreement 00 0
50% of sales tax received above the
base year total of $3,360,000, less any
cumulative shortfall offset below the
base year amount 0
1 Reported payments are indirect and support debt service on bonds issued by the City’s Auto Center Assessment District, including the most recent refunding of the 1999 bonds. The original financing funded public infrastructure improvements within the District, including roadway, water, landscape and irrigation, wall rehabilitation, street and display lighting, and storm drain facilities, along with related appurtenant work within public rights-of-way and easements.
1. Name or names of parties to the
tax revenue sharing agreement
City of Riverside City of Riverside City of Riverside
Hinderliter, DeLlamas & Associates Westminster Central, LLC Riverside Healthcare System, L.P. Tyler Mall Limited Partnership Auto D ealers Association1 Assembly Bill 2854 Report
Fiscal Year 2024-25
Jurisdiction Code: 33050