HomeMy WebLinkAboutResolution No. 92-R410 0
RESOLUTION NO. 92-R41
A RESOLUTION OF THE BOARD OF DIRECTORS OF
THE CITY OF AZUSA REDEVELOPMENT AGENCY
MAKING A FINDING THAT THE PLANNING AND
ADMINISTRATIVE EXPENSES TO BE FUNDED FROM
THE LOW AND MODERATE INCOME HOUSING FUND
ARE NECESSARY FOR THE PRODUCTION,
IMPROVEMENT OR PRESERVATION OF THE
COMMUNITY'S SUPPLY OF LOW AND MODERATE
INCOME HOUSING.
Whereas, the Redevelopment Agency of the City of Azusa is authorized by
Section 33334.3 of the Health and Safety Code to use a portion of its low and moderate
income housing funds to pay for planning and general administrative costs which are
directly related to the provision of housing assistance in accord with Section 33334.2 of
the Health and Safety Code; and
Whereas, the Agency has engaged in a number of projects consistent with said
Section 33334.2 to either rehabilitate or constuct new low and moderate income housing
and the Agency reasonably expects to continue such activity in accord with the proposed
budget for 1992-93; and
Whereas, the Agency expects to expend considerable staff time and resources to
carry out the projects and programs listed in Exhibit A attached hereto; and
Whereas, Section 33334.3 requires the Agency to make an annual finding that the
planning and administrative expenses are reasonable given the expected level of activity
for low and moderate income housing projects;
NOW THEREFORE BE IT RESOLVED by the Board of Directors of the City of
Azusa Redevelopment Agency that:
Section 1. Pursuant to the requirements of Section 33334.2 of the Health and
Safety Code, the Board hereby finds and determines that the reasonable allocation of
Agency staff expenses directly related to the production, rehabilitation, or preservation
of low and moderate income housing in accord with Exhibit A attached is as follows:
For Fiscal Year 1991-92 25% of Administrative Costs
For Fiscal Year 1992-93 50% of Administrative Costs
Section 2. The Agency asserts that, in the event of substantial changes in project
activity, it will reevaluate the allocations and only assess the low and moderate income
housing fund for that portion of administrative expenses which are reasonably related
to the purposes allowable under law.
Section 3. The Agency Secretary shall certify the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED THIS 15th DAY OF June 1992
0 0
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 15th day of June 1992 by the following vote of the
Board:
AYES: BOARDMEMBERS: DANGLEIS, MADRID, ALEXANDER, MOSES
NOES: BOARDMEMBERS: NONE
ABSENT: BOARDMEMBERS: NARANJO