HomeMy WebLinkAboutRDA 01-02 I
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RESOLUTION NO. RDA 01-2
A RESOLUTION OF THE TUSTIN COMMUNITY
REDEVELOPMENT AGENCY, AUTHORIZING THE EXECUTIVE
DIRECTOR TO EXECUTE AN AGREEMENT WITH THE
CALIFORNIA HOUSING FINANCE AGENCY THE HOUSING
ENABLED BY LOCAL PARTNERSHIPS PROGRAM ("HELP")
FOR THE REHABILITATION, CONVERSION OR
CONSTRUCTION OF AFFORDABLE HOUSING UNITS AND TO
INCUR THE HELP PROGRAM LOAN INDEBTEDNESS.
The Tustin Community Redevelopment Agency DOES HEREBY RESOLVE as
follows:
I. The Tustin Community Redevelopment Agency finds and determines as follows:
Pursuant to the California Community Redevelopment Law (Health and
Safety code Section 33000 et seq.), the Tustin Community Redevelopment
Agency is engaged in activities necessary to execute and implement a
redevelopment plan; and
The California Housing Finance Agency ("CHFA") has initiated the Housing
Enabled by Local Partnerships Program ("HELP" Program) to provide
affordable housing opportunities through program partnerships with local
government entities consistent with affordable housing priorities of the
locality;
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The HELP Program provides funds to local government entities as an
unsecured loan from CHFA for up to ten (10) years at three percent (3%)
simple interest per annum with certain minimal restrictions and conditions;
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The HELP Program stipulates that the repayment of such loans is required
no later than ten (10) years from the date a commitment/loan agreement is
signed between CHFA and a government entity;
The HELP Program funds must be used by local government entities for
current unmet affordable housing needs and priorities as determined by each
participating locality through Housing Elements, Consolidated Plans and
other documentation as required by the HELP Program;
Participating local jurisdictions must have general housing elements that
conform with requirements of Article 10.6 of Chapter 3 of Division I of Title 7
of the Government Code (Government Code 65580 et seq.); and
The Tustin Community Redevelopment Agency was awarded an allocation of
$1,150,000 in loan funds through the HELP Program as a tool to facilitate
more comprehensive revitalization and construction efforts that includes
conversion and construction of family ownership housing and special needs
housing opportunities.
Resolution No. RDA 01-2
Page 2
NOW THEREFORE, BE IT RESOLVED that the Tustin Community Redevelopment
Agency:
1. Approve an agreement with the California Housing Finance Agency for
$1,150,000 in Housing Enabled by Local Partnerships Program (HELP) funds. The
Executive Director is authorized to execute the Agreement and related documents
necessary to meet the requirements of the HELP Program.
2. Authorize the Community Redevelopment Agency to incur the HELP Program
Loan indebtedness.
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2. The Community Redevelopment Agency agrees to use the HELP Program
funds for eligible activities in the manner presented in the application as approved by
CHFA, to commit resources to implement projects under the Program, and to take other
actions necessary to facilitate projects under the Program guidelines.
PASSED AND ADOPTED at a regular meeting of the Tustin Community
Redevelopment Agency held on the 20th day of February, 2001.
Tracy Will,CWorley, Chair /
Tustin C m~unity Redevelopment
Agfency
PAMELA STOKER
Recording Secretary
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STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF TUSTIN )
SS
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RESOLUTION NO. RDA 01-2
Pamela Stoker, Recording Secretary of the Tustin Community Redevelopment Agency
of the City of Tustin, California, does hereby certify that the whole number of the
members of the Tustin Community Redevelopment Agency is five; that the above and
foregoing resolution was passed and adopted at a regular meeting of the Tustin
Community Redevelopment Agency held on the 20th day of February, 2001, by the
following vote:
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AGENCY MEMBER AYES: Worley,
AGENCY MEMBER NOES: None
AGENCY MEMBER ABSTAINED: None
', ENCY MEM ER ABSEN : None
Pamela Stoker, Recordin~ Secretary
Thomas, Bone, Doyle, Kawashima