HomeMy WebLinkAboutRDA 93-11RESOLUTION NO. RDA 93-11
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF TUSTIN, CALIFORNIA, FINDING THAT
THE USE OF TAXES ALLOCATED FROM THE SOUTH
CENTRAL PROJECT AREA AND FROM THE TOWN CENTER
PROJECT AREA FOR THE MORTGAGE CREDIT
CERTIFICATE PROGRAM OUTSIDE THE PROJECT AREAS
WILL BE OF BENEFIT TO BOTH PROJECT AREAS
The Redevelopment Agency of the City of Tustin does
hereby resolve as follows:
WHEREAS, the Community Redevelopment Agency of the
City of Tustin (the "Agency") has adopted a Redevelopment
Plan (the "Redevelopment Plan") for the South Central
Project Area and has also adopted a Redevelopment Plan
for the Town Center Project Area; and
WHEREAS, both Redevelopment Plans provide for the
allocation of taxes from their respective Project Areas;
and
WHEREAS, Section 33334.2 of the California Community
Redevelopment Law (Health and Safety Code Section 33000
et seq.) requires that not less than twenty percent (20%)
of all taxes so allocated be used for the purpose of
increasing, improving and preserving the community's
supply of low and moderate income housing available at
affordable housing cost; and
WHEREAS, Section 33334.2(g) of the Health and Safety
Code provides that such funds may be used outside of a
project area if a finding is made by resolution of the
Agency and the City Council that such use will be of
benefit to the Project; and
WHEREAS, the Project Areas comprise only a limited
portion of the low to moderate income housing supply in
the City of Tustin and the overall low to moderate income
housing supply is dispersed throughout the City; and
WHEREAS, City of Tustin is proposing to establish a
Mortgage Credit Certificate Program to assist low to
moderate income first time homebuyers throughout the
City; and
WHEREAS, the use of tax increment funds for
implementation of the City's Mortgage Credit Certificate
Program outside of the Project Area will directly promote
the increase, improvement and preservation of the
community's supply of low to moderate income housing
available at affordable prices both inside and outside
the South Central and Town Center Project Areas.
Resolution No. RDA 93-11
Page 2
NOW, THEREFORE, the Community Redevelopment Agency of the
City of Tustin does hereby find and resolve as follows:
Section 1: The Agency hereby finds that the use of
taxes allocated from the South Central Project Area and
from the Town Center Project Area for the purpose of
increasing, improving and preserving the community's
supply of low and moderate income housing available at
affordable housing cost outside the Project Areas and
within the City of Tustin will be of benefit to both the
South Central and Town Center Project Areas.
Section 2: The Agency finds that the use of these
funds is of primary benefit to both the South Central and
Town Center Project Areas, and constitutes redevelopment
activity as described in Sections 33020 and 33021 of the
Health and Safety Code.
PASSED AND ADOPTED at a regular meeting of the Tustin Community
Redevelopment Agency of the City of Tustin held on the 16th day
of August, 1993. ~.~.~, ')~~//
Jim Pot~/s-''" ~ '' --
Redeve//opment Chairperson
Mary E. ~ynn
City Clerk
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF TUSTIN )
SS
CERTIFICATION FOR RDA RESOLUTION NO. 93-11
MARY E. WYNN, City Clerk and ex-officio Clerk of the
Redevelopment Agency of the City of Tustin, California
does hereby certify that the whole number of the numbers
of the Redevelopment Agency of the City of Tustin is 5;
that the above and foregoing RDA Resolution No. 93-11 was
duly and regularly introduced, passed and adopted at a
regular meeting of the Redevelopment Agency held on the
16th day of August, 1993, by the following vote:
COUNCILMEMMERS AYES:
COUNCILMEMBERS NOES: None
COUNCILMEMBERS ABSTAINED: None
COUNCILMEMBERS ABSENT: None
Potts, Saltarelli, Pontious, Puckett, Thomas
Mary E. W~n, C. ity Cl~rk-