Before an agency commits to use the portion of taxes to be allocated and paid to an agency pursuant to subdivision (b) of Section 33670 for the purpose of paying all or part of the value of the land for, and the cost of the installation and construction of, any publicly owned building, other than parking facilities, the legislative body shall hold a public hearing.
Notice of the time and place of the public hearing shall be published in a newspaper of general circulation in the community for at least two successive weeks prior to the public hearing. There shall be available for public inspection and copying, at a cost not to exceed the cost of duplication, a summary that includes all of the following:
(a) Estimates of the amount of the taxes proposed to be used to pay for the land and construction of any publicly owned building, including interest payments.
(b) Sets forth the facts supporting the determinations required to be made by the legislative body pursuant to Section 33445 or the findings required to be made by the legislative body pursuant to Section 33445.1.
(c) Sets forth the redevelopment purpose for which the taxes are being used to pay for the land and construction of the publicly owned building.
The summary shall be made available to the public for inspection and copying no later than the time of the first publication of the notice of the public hearing.
(Amended by Stats. 2009, Ch. 555, Sec. 4. (SB 93) Effective January 1, 2010.)