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HomeMy WebLinkAboutRDA 2 EXP HSNG FUNDS 03-21-05 803;°"'. ':\, AGENDA REPORT Agenda Item --RDA.2... Reviewed: ~ City Manager Finance Director ~ MEETING DATE: MARCH 21. 2005 FROM: WilLIAM A. HUSTON, EXECUTIVE DIRECTOR REDEVELOPMENT AGENCY STAFF TO: SUBJECT: FINDING OF BENEFIT FOR EXPENDITURE OF HOUSING SET-ASIDE FUNDS OUTSIDE SOUTH CENTRAL AND THE TOWN CENTER REDEVELOPMENT PROJECT AREAS SUMMARY The Tustin Community Redevelopment Agency ("Agency") is being requested to adopt resolutions approving the expenditures from the low and moderate income housing set- aside funds outside the South Central Redevelopment Project Area and the Town Center Redevelopment Project Areas for the purpose of expanding, improving and preserving affordable housing units within the territorial jurisdiction of the Tustin Community Redevelopment Agency. RECOMMENDATION Adopt Resolution RDA 05-01 making a Finding of Benefit and approving the expenditure of housing set-aside funds outside the South Central Redevelopment Project Area. Adopt Resolution RDA 05-02 making a Finding of Benefit and approving the expenditure of housing set-aside funds outside the Town Center Redevelopment Project Area. FISCAL IMPACT There is no fiscal impact at this time related to the approval of the Finding of Benefit for the expenditure of set-aside funds outside the Project Areas. If funding is requested for a specific project in the future, staff will identify the fiscal impact, if any. at the time of such request. William Huston, Executive Director Finding of Benefit Resolutions March 21, 2005 Page 2 BACKGROUND California Redevelopment Law (the "CRL") Section 33334.2 requires that no less than twenty percent (20%) of all taxes which are allocated to the Agency pursuant to CRL Section 33670 shall be used by the Agency for purposes of increasing, improving and preserving the community's supply of low and moderate income housing at an affordable housing cost to persons and families of low or moderate incomes as defined under the CRL ("Low and Moderate Income Housing Fund"). The California Legislature has declared that the provision of housing is itself a fundamental purpose of the CRL (Section 33334.6(a)) and has also declared that the provision and improvement of affordable housing outside of redevelopment project areas can be of direct benefit to those projects in assisting the accomplishments of project objectives whether or not those projects. The Legislature has further determined that the provision of affordable housing by redevelopment agencies, and the use of taxes allocated to the agency is of statewide benefit and of particular benefit and assistance to all local governmental agencies in areas where housing is provided. Accordingly, Subsection (g) of CRL Section 33334.2 authorizes the Agency to use monies from the Low and Moderate Income Housing Fund inside or outside the Project Area but authorizes the Agency to use the funds outside the Project Area only upon resolutions of the Agency and the City Council finding that such use will be of benefit to the project. Agency approval of Resolution RDA 05-01 and RDA 05-02 making findings of benefit for the South Central and Town Center Redevelopment Project Areas respectively will allow the Agency to expend monies outside of the project areas as may be needed and appropriate from the respective low and moderate housing set-aside funds to provide affordable housing opportunities city-wide. The expenditures may be made for affordable housing purposes anywhere within the jurisdictional territory of the Agency including the MCAS Tustin Legacy Redevelopment Project Area. Agency staff is available to answer any questions from the Council. ~ ~~ am A. Draughon ~ Redevelopment Program Manager RDAlAgency Reports\Mar 21,2005 Agency Housing Finding of Benefit Resolutions Attachments RESOLUTION NO. RDA 05-01 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF TUSTIN, CALIFORNIA, FINDING AND DETERMINING THAT THE USE OF MONIES FROM THE LOW AND MODERATE INCOME HOUSING FUND OUTSIDE THE BOUNDARIES OF THE SOUTH CENTRAL REDEVELOPMENT PROJECT AREA, WILL BENEFIT THE PROJECT AREA AND AUTHORIZING THE EXPENDITURE OF SUCH FUNDS The Tustin Community Redevelopment Agency DOES HEREBY RESOLVE as follows: I. The Tustin Community Redevelopment Agency finds and determines as follows: A. The Redevelopment Agency of the City of Tustin ("Agency") is vested with the responsibility to carry out the South Central Redevelopment Plan in accordance with the Community Redevelopment Law (CRL), Health and Safety Code Section 33000, § §llil.; and B. CRL Section 33334,2 requires that no less than twenty percent (20%) of all taxes which are allocated to the Agency pursuant to CRL Section 33670 shall be used by the Agency for purposes of increasing, improving and preserving the community's supply of low and moderate income housing at an affordable housing cost to persons and families of low or moderate incomes as defined under the CRL ("Low and Moderate Income Housing Fund"); and C. Subsection (g) of CRL Section 33334.2 authorizes the Agency to use monies from the Low and Moderate Income Housing Fund inside or outside the Project Area but authorizes the Agency to use the funds outside the Project Area only upon resolutions of the Agency and the City Council finding that such use will be of benefit to the project; and D, Pursuant to CRL Section 33334.3 Low and Moderate Income Housing Fund shall be used to improve, increase and preserve the supply low and moderate income housing within the territorial jurisdiction of the agency; and E. Pursuant to CRL Section 33334,6 (a) the Legislature has declared that the provision of housing is itself a fundamental purpose of the Resolution No. RDA 05-01 March 21,2005 Page 2 CRL and further finds and declares that the provision and improvement of affordable housing outside of redevelopment project areas can be of direct benefit to those projects in assisting the accomplishments of project objectives whether or not those projects, and determined that the provision of affordable housing by redevelopment agencies, and the use of taxes allocated to the agency is of statewide benefit and of particular benefit and assistance to all local governmental agencies in areas where housing is provided; and F, The Agency desires by this Resolution to declare that the expenditure of monies from the Low and Moderate Income Housing Fund outside the South Central Redevelopment Project Area for purposes authorized under the CRL are and will be of benefit to the Project Area. NOW, THEREFORE, the Redevelopment Agency of the City of Tustin resolves as follows: Section 1, The Recitals above are fully incorporated into this resolution and finding. Section 2. The Agency finds and determines that the expenditure of monies from the Low and Moderate Income Housing Fund outside the South Central Redevelopment Project Area for purposes authorized under the CRL are and will be of benefit to the Project Area, in that it will be used to provide low and moderate income housing at an affordable housing cost to persons and families of low and moderate income within the territorial jurisdiction of the Agency, and for other purposes authorized by the CRL. Section 3. The Agency is authorized to expend monies from the Low and Moderate Income Housing Fund inside and/or outside the South Central Redevelopment Project Area for said authorized purposes. Resolution No, RDA 05-01 March 21,2005 Page 3 PASSED AND ADOPTED at a regular meeting of the Tustin Community Redevelopment Agency held on the 21st day of March 2005. LOU BONE, Chairperson PAMELA STOKER Recording Secretary STATE OF CALIFORNIA) COUNTY OF ORANGE) CITY OF TUSTIN ) ss I, Pamela Stoker, Recording Secretary and ex-officio Recording Secretary of the Community Redevelopment Agency of the City of Tustin, California, do hereby certify that the whole number of the members of the Community Redevelopment Agency of the City of Tustin is five; that the above and foregoing Resolution No. RDA 05-01 was duly passed and adopted at a regular meeting of the Tustin Community Redevelopment Agency, held on the 21st day of March 2005, by the following vote: AGENCYMEMBER AYES: AGENCYMEMBER NOES: AGENCYMEMBER ABSTAINED: AGENCYMEMBER ABSENT: PAMELA STOKER Recording Secretary RDA ResolRDA 05-01 South Central Hsg Fund Finding of Benefitdoc RESOLUTION NO. RDA 05-02 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF TUSTIN, CALIFORNIA, FINDING AND DETERMINING THAT THE USE OF MONIES FROM THE LOW AND MODERATE INCOME HOUSING FUND OUTSIDE THE BOUNDARIES OF THE TOWN CENTER REDEVELOPMENT PROJECT AREA, WILL BENEFIT THE PROJECT AREA AND AUTHORIZING THE EXPENDITURE OF SUCH FUNDS The Tustin Community Redevelopment Agency DOES HEREBY RESOLVE as follows: I. The Tustin Community Redevelopment Agency finds and determines as follows: A. The Redevelopment Agency of the City of Tustin ("Agency") is vested with the responsibility to carry out the Town Center Redevelopment Plan in accordance with the Community Redevelopment Law (CRL), Health and Safety Code Section 33000, § §llil.; and B, CRL Section 33334,2 requires that no less than twenty percent (20%) of all taxes which are allocated to the Agency pursuant to CRL Section 33670 shall be used by the Agency for purposes of increasing, improving and preserving the community's supply of low and moderate income housing at an affordable housing cost to persons and families of low or moderate incomes as defined under the CRL ("Low and Moderate Income Housing Fund"); and C. Subsection (g) of CRL Section 33334.2 authorizes the Agency to use monies from the Low and Moderate Income Housing Fund inside or outside the Project Area but authorizes the Agency to use the funds outside the Project Area only upon resolutions of the Agency and the City Council finding that such use will be of benefit to the project; and D. Pursuant to CRL Section 33334,3 Low and Moderate Income Housing Fund shall be used to improve, increase and preserve the supply low and moderate income housing within the territorial jurisdiction of the agency; and Resolution No. RDA 05-02 March 21,2005 Page 2 E. Pursuant to CRL Section 33334.6 (a) the Legislature has declared that the provision of housing is itself a fundamental purpose of the CRL and further finds and declares that the provision and improvement of affordable housing outside of redevelopment project areas can be of direct benefit to those projects in assisting the accomplishments of project objectives whether or not those projects, and determined that the provision of affordable housing by redevelopment agencies, and the use of taxes allocated to the agency is of statewide benefit and of particular benefit and assistance to all local governmental agencies in areas where housing is provided; and F. The Agency desires by this Resolution to declare that the expenditure of monies from the Low and Moderate Income Housing Fund outside the Town Center Redevelopment Project Area for purposes authorized under the CRL are and will be of benefit to the Project Area. NOW, THEREFORE, the Redevelopment Agency of the City of Tustin resolves as follows: Section 1. The Recitals above are fully incorporated into this resolution and finding. Section 2. The Agency finds and determines that the expenditure of monies from the Low and Moderate Income Housing Fund outside the Town Center Redevelopment Project Area for purposes authorized under the CRL are and will be of benefit to the Project Area, in that it will be used to provide low and moderate income housing at an affordable housing cost to persons and families of low and moderate income within the territorial jurisdiction of the Agency, and for other purposes authorized by the CRL. Section 3. The Agency is authorized to expend monies from the Low and Moderate Income Housing Fund inside and/or outside the Town Center Redevelopment Project Area for said authorized purposes. Resolution No, RDA 05-02 March 21,2005 Page 3 PASSED AND ADOPTED at a regular meeting of the Tustin Community Redevelopment Agency held on the 21st day of March 2005. LOU BONE, Chairperson PAMELA STOKER Recording Secretary STATE OF CALIFORNIA) COUNTY OF ORANGE) CITY OF TUSTIN ) ss I, Pamela Stoker, Recording Secretary and ex-officio Recording Secretary of the Community Redevelopment Agency of the City of Tustin, California, do hereby certify that the whole number of the members of the Community Redevelopment Agency of the City of Tustin is five; that the above and foregoing Resolution No. RDA 05-02 was duly passed and adopted at a regular meeting of the Tustin Community Redevelopment Agency, held on the 21st day of March 2005, by the following vote: AGENCYMEMBER AYES: AGENCYMEMBER NOES: AGENCYMEMBER ABSTAINED: AGENCYMEMBER ABSENT: PAMELA STOKER Recording Secretary RDA ResolRDA 05-02 Town Center Hsg Fund Finding of Benefitdoc