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general fund receives 8.715% of the annual gross tax increment and the County Flood Control District receives 2.97% of the annual gross tax increment. Orange County Department of Education (Superintendent of Schools) — Bristol Corridor Redevelopment Project. An agreement was entered into with the Orange County Department of Education (Superintendent of Schools) on April 18, 1989. The Successor Agency annually allocates 25% of such department's share of annual gross tax increment. Orange County Superintendent of Schools — South IIarbor Boulevard/Fairview Street Redevelopment Project and South Main Street Redevelopment Project. Agreements were entered into with the Orange County Superintendent of Schools on January 19, 1993 (South Harbor) and December 20, 1993 (South Main). The payment provisions set forth by the agreements require that the Successor Agency commence payments equal to a certain percentage of such superintendent's share of annual tax increment commencing when the aggregate tax increment received by the Successor Agency since the adoption of the respective redevelopment plans reaches certain cumulative thresholds. For South Harbor, the allocation will be 30% of the superintendent's share of annual gross tax increment after a cumulative collection of $109,875,000, which occurred in fiscal year 2005/06. For South Main, the allocation will be 25% of the superintendent's share of annual gross tax increment after a cumulative collection of $209,900,000. Rancho Santiago Community College District — South Main Street Redevelopment Project. An agreement was entered into with the College District on December 20, 1993. The payment provisions set forth by the agreement require that the Successor Agency commence payments equal to 25% of the College District's share of annual tax increment commencing when the aggregate tax increment received by the Successor Agency since the adoption of the Redevelopment Plan reaches $209,900,000, which amount has been reached. Saddleback [South Orange County] Community College District — South Main Street Redevelopment Project. An agreement was entered into with the Saddleback Community College District now identified on the County Auditor -Controller's records as the "South Orange County" Community College District on December 20, 1993. The payment provisions set forth by the agreement require that the Successor Agency commence payments equal to 80% of the District's Share of annual tax increment commencing when the aggregate tax increment received by the Successor Agency since the adoption of the Redevelopment Plan reaches $209,900,000, which amount has been reached. Election Under Fortner Health and Safety Code Section 33676. Pursuant to former Health and Safety Code Section 33676, Taxing Agencies were permitted (and in some cases directed) to elect to receive, in addition to the taxes allocated to them pursuant to Health and Safety Code Section 33670(a), the amount of taxes that would otherwise be allocated to the Successor Agency pursuant to Health and Safety Code Section 33670(b) attributable to (1) any increase in the Taxing Agency's tax rate and (2) the annual inflation adjustment in the assessed valuation of the property within a project area, as set forth in Revenue and Taxation Code section 110.1(£). This former provision applied to project areas adopted between 1984 to 1994, and, according to the County Auditor -Controller remittance records, applies to the Bristol Corridor Component Area. According to the County Auditor — Controller's records, $701,521 was apportioned to the Garden Grove Unified School District and Orange Unified School District in fiscal year 2017/18 pursuant to apportionments required pursuant to Section 33670 of the Redevelopment Code. Payments are projected to increase based on the cumulative 2% inflationary growth factor applied to the base year real property values of the Bristol Corridor Redevelopment Project in subsequent fiscal years. Statutory Tax Sharing Payments Certain provisions were added to the Redevelopment Law by the adoption of AB 1290 in 1994. If a new redevelopment project was formed by a redevelopment plan adopted on or after January 1, 1994 or if new territory was added to a redevelopment project on or after January 1, 1994, under Section 33607.5 of the Redevelopment Law, any affected taxing entity, including the City, would share in the Tax Revenues generated 35 SA -3-49