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The Successor Agency is additionally obligated to semiannually pay an amount equal to 20% of the School District's share of taxes allocated to the Successor Agency for the corresponding semiannual period, pursuant to Section 33670(b) of the Redevelopment Law, provided however, that such payment obligation does not begin until the aggregate amount of such tax increment received by the Successor Agency under such Section reaches $209,900,000, which amount has been reached and provided further that the amount payable under the 20% computation shall be offset by the amount of payment made by the Successor Agency to the School District for School District Debt Service for the same semiannual period. Santa Ana Unified School District — Bristol Corridor Redevelopment Project. The Fortner Agency and the School District entered into an agreement dated April 18, 1989 in which the Successor Agency allocates the School District's full share of annual tax increment derived from the growth in assessed value generated by the Proposition 13 annual inflationary increase. Rancho Santiago Community College District — South Harbor Boulevard/Fairview Street Redevelopment Project. An agreement was entered into with the Rancho Santiago Community College District (the "College District") on January 19, 1993. The payment provisions set forth by the agreement require that the Successor Agency commence payments equal to the annual gross tax increment multiplied by the greater of either 3.6% or the percentage share paid to the School District under its agreement with the Successor Agency. The payment was to commence when the aggregate tax increment received by the Successor Agency since the adoption of the redevelopment plan reaches $109,875,000, which limit was reached in fiscal year 2005/06. Rancho Santiago Community College District — Bristol Corridor Redevelopment Project. An agreement was entered into with the College District on April 18, 1989. The agreement requires that the Successor Agency allocate the College District's full share of annual tax increment. Orange County Water District — Inter -City Commuter Station Redevelopment Project, North Harbor Boulevard Redevelopment Project, South Harbor Boulevard/Fairview Street Redevelopment Project, and South Main Street Redevelopment Project. An agreement was entered into with the Orange County Water District (the "Water District") on November 17, 1982. The Successor Agency's obligation to the Water District under the terms of the agreement requires that the Successor Agency will pay an amount equal to I% of the basic one percent gross tax increment levy. Orange County Water District — Bristol Corridor Redevelopment Project. An agreement was entered into with the Water District on April 18, 1989 to allocate 100% of the Water District's share of gross tax increment to the District. 33 SA -3-47