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HomeMy WebLinkAbout13 EXP HSNG FUNDS 03-21-05 . AGENDA REPORT Agenda Item ----.1L Reviewed: vfI.~ / City Manager ~ Finance Director N/A MEETING DATE: MARCH 21, 2005 TO: WilLIAM A. HUSTON. CITY MANAGER FROM: REDEVELOPMENT AGENCY STAFF SUBJECT: FINDING OF BENEFIT FOR EXPENDITURE OF HOUSING SET-ASIDE FUNDS OUTSIDE SOUTH CENTRAL AND THE TOWN CENTER REDEVELOPMENT PROJECT AREAS SUMMARY The City Council 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 05-48 making a Finding of Benefit and approving the expenditure of housing set-aside funds outside the South Central Redevelopment Project Area. Adopt Resolution 05-49 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. City Council Report 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. City Council approval of Resolution 05-48 and 05-49 making finding 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 low and moderate housing set-aside fund to provide affordable housing opportunities city-wide. The expenditures may be made 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. ~ ty¡;.. ~ ames A. Draugho \ Redevelopment Program Manager S:\RDAICC reportlMar 21 2005 Housing Fund Finding of Benefot Resolutions.doc Attachments RESOLUTION NO. 05-48 A RESOLUTION OF THE CITY COUNCIL 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 City Council DOES HEREBY RESOLVE as follows: I. The Tustin City Council 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, §~.;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 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, Resolution No. 05-48 March 21,2005 Page 2 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 City Council 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 City Council of the City of Tustin resolves as follows: Section 1. The Recitals above are fully incorporated into this resolution and finding. Section 2. The City Council 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. PASSED AND ADOPTED at a regular meeting of the Tustin City Council held on the 21st day of March 2005. LOU BONE, Mayor PAMELA STOKER Recording Secretary Resolution No. 05-48 March 21,2005 Page 3 STATE OF CALIFORNIA) COUNTY OF ORANGE) CITY OF TUSTIN ) ss I, Pamela Stoker, Recording Secretary and ex-officio Recording Secretary of the City Council of the City of Tustin, California, do hereby certify that the whole number of the members of the City Council of the City of Tustin is five; that the above and foregoing Resolution No. 05-48 was duly passed and adopted at a regular meeting of the Tustin City Council, held on the 21st day of March 2005, by the following vote: COUNCILMEMBER AYES: COUNCILMEMBER NOES: COUNCILMEMBER ABSTAINED: COUNCILMEMBER ABSENT: PAMELA STOKER Recording Secretary City Council Reso105-48 South Central Hsg Fund finding 01 Benefitdoc RESOLUTION NO. 05-49 A RESOLUTION OF THE CITY COUNCIL 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 City Council DOES HEREBY RESOLVE as follows: I. The Tustin City Council 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, § ~.; 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 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 Resolution No. 05-49 March 21,2005 Page 2 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 City Council 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 City Council of the City of Tustin resolves as follows: Section 1. The Recitals above are fully incorporated into this resolution and finding. Section 2. The City Council 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. 05-49 March 21,2005 Page 3 PASSED AND ADOPTED at a regular meeting of the Tustin City Council held on the 21st day of March 2005. LOU BONE, Mayor 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 City Council of the City of Tustin, California, do hereby certify that the whole number of the members of the City Council of the City of Tustin is five; that the above and foregoing Resolution No. 05-49 was duly passed and adopted at a regular meeting of the Tustin City Council, held on the 21st day of March 2005, by the following vote: COUNCILMEMBER AYES: COUNCILMEMBER NOES: COUNCILMEMBER ABSTAINED: COUNCILMEMBER ABSENT: PAMELA STOKER Recording Secretary City Council Reso105-49 Town Center Hsg Fund Finding of Benefitdoc