HomeMy WebLinkAboutResolution No. 91-R33RESOLUTION NO. 91-R33_;
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF AZUSA FINDING THAT A SUBSTANTIAL
EFFORT IS BEING MADE TO MEET THE NEED FOR LOW
AND MODERATE INCOME HOUSING IN THE RANCH
CENTER REDEVELOPMENT PROJECT, AND THAT THIS
EFFORT CONSISTS OF SUCH AN EXTENSIVE
EXPENDITURE THAT THE NEED TO SET ASIDE LOW AND
MODERATE HOUSING FUNDS IN THIS PROJECT WILL
BE MET FOR SEVERAL YEARS INTO THE FUTURE.
WHEREAS, the Redevelopment Agency of the City of Azusa
("Agency") adopted the Ranch Center Redevelopment Plan on July
17, 1989 subsequent to the enactment by the Legislature of the
provisions of Section 33334.2 of the Health and Safety Code; and
WHEREAS, the Tax Increment revenues allocated to the Agency
from said project area are subject to the provisions of the
California Health and Safety Code Section 33334.2 for low and
moderate income housing purposes; and
WHEREAS, the Agency has received and considered a staff
report, attached hereto as "Exhibit All and incorporated herein by
reference, wherein it has been noted that a 1991-92 CDBG
expenditure of $273,300 for the purpose of making low and
moderate income housing rehab loans will meet the low and
moderate income housing set aside requirements for the Ranch
Center Project Area for several years; and
WHEREAS, the above referenced staff report demonstrates that
a substantial effort is currently being made by the City and the
Agency to meet the need for low and moderate income housing in
the City of Azusa, and that such effort will exceed the housing
set aside requirement for the Ranch Center Project for several
years; and
WHEREAS, on June 19, 1989, the Agency adopted Resolution No.
583, which made findings that the provision of low and moderate
income housing outside the Ranch Center Redevelopment Project
Area would be of benefit to said project area; and
WHEREAS, the 1991-92 CDBG expenditure for low and moderate
income housing rehabilitation will greatly exceed the 20 percent
housing set aside requirement in the Ranch Center Project for
many years if discounted in future years to account for present
value of the expended funds.
NOW, THEREFORE, the Redevelopment Agency of the City of
Azusa does hereby resolve as follows:
SECTION 1: The Board of Directors of the Redevelopment
Agency of the City of Azusa hereby finds, determines and declares
that:
A. The Redevelopment Agency of the City of Azusa and the
City of Azusa are making substantial efforts to meet low and
moderate income housing needs in the community, and that this
effort, including the obligation of funds currently available for
the benefit of the community from state, local and federal
sources for low and moderate income housing alone is
substantially greater in impact than the funds otherwise required
to be set aside pursuant to California Health and Safety Code
Section 33334.2.
B. The CDBG funds to be expended in 1991-92 will exceed the
housing set aside requirement for the Ranch Center Project for
several years. However, since it is not possible to accurately
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predict the actual tax increment that will be generated by this
project in future years, it is impossible at this time to make
findings for a specific number of future years. And since current
law requires the findings contained in this Resolution to be made
on an annual basis, the Agency hereby resolves to consider
similar Resolutions in future years, annually deducting from the
CDBG funds expended in 1991-92 the actual amount of the housing
set aside requirement in future years, discounted to 1991-92
dollars, until all of the 1991-92 expenditure has been credited
toward the Ranch Center housing set aside requirements.
C. There are no present plans or plans in the foreseeable
future to displace families of very low, low or moderate income
from within or adjacent to the project area due to any cause
whatsoever.
D. Due to the large pool of already -housed unemployed and
underemployed workers in the area, the increased housing needs
that can reasonably be foreseen for low and moderate income
households because of additional employment opportunities
resulting from implementation of the Redevelopment Plan will be
minimal and can be satified by already existing Agency and City
programs.
SECTION 2: Nothing herein shall be deemed to preclude the
Agency from using taxes set aside pursuant to the Community
Redevdelopment Law, or otherwise, for meeting low and moderate
income housing needs of the City of Azusa.
SECTION 3: The Agency Secretary shall certify the adoption
of this Resolution.
PASSED, APPROVED AND ADOPTED THIS 25thDAY OF June, 1991.
E ene F. Moses, Chairman
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Board of Directors of the Redevelopment Agency of
the City of Azusa, at a regular meeting thereof, held on the
day of , 1991 by the following vote of the Directors:
AYES: DIRECTORS: DANGLEIS, STEMRICH, NARANJO, ALEXANDER, MOSES
NOES: DIRECTORS: NONE
ABSENT: DIRECTORS: NONE
ABSTAIN: DIRECTORS: NONE
Secretary