HomeMy WebLinkAboutCC RES 96-104 1 RESOLUTION NO. 96-104
2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUSTIN ADOPTING A MULTI-FAMILY HOUSING FINANCE
3 PROGRAM IN COOPERATION WITH THE COUNTY OF ORANGE
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WHEREAS, there is a shortage in the County of Orange
5 (the "County"). and ~n the.City of Tustin (the "City") of
decent, safe and sanitary housing, particularly of housing
6 affordable by persons in the lower end of the income
spectrum, and a~ consequent' need to encourage the
7 acquisition, construction and rehabilitation of rental
units affordable to such persons; and
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WHEREAS, the Board of Supervisors of the County has
9 resolved to engage, in collaboration with other Southern
California counties, as a member of the Southern California
10 Home Financing Authority, a joint powers authority (the
"Authority"), in a multifamily rental housing finance
11 program (the "Program") pursuant to Chapter 7 of Part 5 of
Division 31 of the Health and Safety Code of the State of
12 California (the "Act") for persons and families within the
income limits established by the Act, and to issue, through
13 the Authority, revenue bonds pursuant to the Act to provide
funds for the Program; and
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WHEREAS, this City Council finds and determines that
15 it iS in the best interest of the City to adopt the Program
and to consent to the implementation of the Program by the
16 County and ~he Authority within the geographic boundaries
of the City pursuant to the Act;
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NOW, THEREFORE, BE IT RESOLVED by the City Council of
18 the City of Tustin. as follows:·
19 SECTION 1. The City hereby adopts the Program for
the purpose of preserving or maintaining the housing supply
20 in the County and in the City and consents to the
implementation of the Program by the County and the
21 ·Authority pursuant to the. Act With respect to: (1) the sale
of the Hampton Square 350-unit'apartment complex from Shea
22 Business Properties to Fairfield Holding Company, the
rehabilitation of the same and imposition of covenant
23 restrictions on no more than 60% of the total units to
limit rents to 60% of the Orange County median income, and
24 (2) such other properties located within 'the geographic
boundaries of the City as may be approved in writing by the
25 City manager. The City hereby authorizes the City Manager
to. approve, from time to time, other properties located
26 within the geographic boundaries of the City, to be subject
to 'th~ program and the Cooperative Agreement described in
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1 Section 2, below.
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SECTION 2. The agreement between the County and
3 the City (the "Cooperative Agreement"), in substantially
the form submitted to this meeting, is hereby approved; and
4 the City Manager is hereby authorized and directed to
execute and deliver the same, for and in the name and on
5 behalf of the City, and to approve any additions to or
changes in the form of the Cooperative Agreement which he
6 deems necessary or advisable, his approval of such
additions or changes to be conclusively evidenced by his
7 execution of the Cooperative Agreement as so added to or
changed. The City Manager is further authorized to enter
8 into such additional agreements with the County or the
Authority, execute such other documents and take such other
9 actions as he may deem necessary or appropriate to carry
out the purpose and the intent of the Cooperative Agreement'
10 or to cooperate in the implementation of the Program.
11 SECTION 3. This resolution shall take effect
immediately upon its adoption.
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13 PASSED AND ADOPTED by the City Council of the City of
Tustin at a regular meeting held on the 7th day of October
14 1996.
16 1
17 Mayor
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19 ~~
20
City Clerk
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22 STATE OF CALIFORNIA )
COUNTY OF ORANGE )
23 CITY OF TUSTIN )
24
I, Pamela Stoker, City Clerk and ex-officio Clerk of the
'25 City Council of the City of Tustin, California, do hereby
certify that the whole number of the members of the City
26 Council of the City of Tustin is five; that the above and
foregoing Resolution No. 96-104 was duly passed and adopted
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1 at a regular meeting of the Tustin City Council, held on
the 7th day of October, 1996, by the following vote:
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3 COUNCILMEMBER AYES: Worley, Doyle~ Ports, Saltarelli
COUNCILMEMBER NOES: None
4 COUNCILMEMBER ABSTAINED: None
COUNCILMEMBER ABSENT: Thomas
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7 PA~ STD~ER
CITY CLERK
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