HomeMy WebLinkAboutResolution No. 93-R210 0
RESOLUTION NO. 93-R21
A RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF AZUSA APPROVING AN OWNER
PARTICIPATION AGREEMENT WITH ARV HOUSING,
INC. FOR THE REHABILITATION OF THE HERMITAGE
PARK II RESIDENTIAL PROJECT
THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1. The Redevelopment Agency of the City of Azusa does hereby find,
determine and declare as follows:
A. The subject of this Agreement is an existing 147 unit multiple family
residential project restricted for occupancy to elderly households 55 years of age and
older.
B. The Site was originally developed in 1979 and evidences
deterioration due to poor maintenance.
C. Current occupancy rates are depressed due to the deteriorated
condition of the project and neighborhood decay.
D. ARV Housing Inc. intends to purchase the subject Site and
rehabilitate all of the dwelling units in accord with a Scope of Development approved
by the Agency.
E. The Agency proposes to commit low and moderate income housing
funds for the cost of rehabilitating the project and providing affordable housing to very
low income senior citizens.
F. ARV Housing Inc. is required as a condition of the financial
assistance to restrict thirty (30) of the units for occupancy by very low income elderly
households for a period of thirty (30) years.
G. The assistance provided herein increases and improves upon the
supply of low and moderate income housing in the community and is a permitted use
of the Agency's low and moderate income housing set-aside fund.
H. The project benefits the project area and furthers the health, safety,
and welfare of the residents of Azusa.
I. In taking this action, the Agency has considered the environmental
impacts of its decision, and after careful study, has determined that this project is
categorically exempt of the provisions of the California Environmental Quality Act and
the City of Azusa's environmental procedures. The Agency therefore finds that this
project will not have a significant impact upon the environment.
SECTION 2. Based on the foregoing, the Redevelopment Agency of the City of
Azusa hereby approves that certain Owner Participation Agreement with ARV Housing,
Inc. for the rehabilitation of the Hermitage Park II project and the reservation of thirty
units for occupancy by very low income elderly households for a period of thirty years.
The Agreement shall be executed in substantially the same form as attached hereto as
Exhibit A.
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SECTION 3. The Secretary shall certify to the adoption of this Resolution.
PASSED, ADOPTED AND APPROVED THIS 3rd DAY OF
May '1993.
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the
Community Redevelopment Agency of the City of Azusa at a regular meeting thereof
held on the 3rd day of May 1993 by the following
vote, to wit:
AYES: DIRECTORS: DANGLEIS, MADRID, NARNAJO, ALEXANDER, MOSES
NOES: DIRECTORS: NONE
ABSENT: DIRECTORS: NONE
ABSTAIN: ,DIRECTORS: NONE i
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Secretary