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HomeMy WebLinkAboutReso 96-129 - Finding that the Use of Tax Allocated from the Shastec Redevelopment Project for the purpose of Improving & Increasing the Community's Supply of Low & Moderate Income Housing � � COUNCIL RESOLUTION NO.�—�Z� RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING FINDING THAT THE USE OF TAXES ALLOCATED FROM THE SHASTEC REDEVELOPMENT PROJECT FOR THE PURPOSE OF IMPROVING AND INCREASING THE COMMUNITY'S SUPPLY OF LOW- AND MODERATE- INCOME HOUSING OUTSIDE THE PROjECT AREt�WILL BE OF BENEFIT TO THE PROjECT WHEREAS,the Reclevelopment A�ency of the City of Reddin� (the"A�ency") has preparec� a proposed Redevelopment Plan �the ��Redevelopment Plan�� {or tlie SHASTEC Redevelopment Project �the ��Project°� w�ich would resu.lt in t�e allocation o{ taxes from t�e Project l�rea �or the �ency �or tlie purposes of redevelopment; and WIIEI�A�, .5ection 33334.2 0�t�e C'a�i�ornia C.'ommunity Redevelopment I.aw(Healt�and�Sa�ety Code Section 33000 et seq.� requires tliat not less t�an twenty percent (20%� o�all taxes so allocated be used by the�eney{or t�e purpose o�improvu�and increasin�t�e community�s supply of low- and moderate-income housin� available at a��orclable�ousin� cost; and �HE�s, Section 33334.2��� o�t�e Health and Sa�eiy Coc�e provicles that t�e f�ency may use suc� �uncls outsic�e tlie Project l�rea i�a�indin� is made by resolution o�t�e�ency and the City Council t�at suc� use will be o�bene�it to the Project; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDDING DOES �S�I.� t�at the use o{taxes allocated�rom t�e Project Area�or t�e purpose o�improving and increasin� t�e community's supply o�low- and moderate-income�ousin� available at a{{orclable�ousin� cost outside t�e Project Area and�thin the City o{Rec�in$ will be o�bene{it to t�e Project. PASSED AND ADOPTED this 18th c�ay o� June , 1996, by t�e followin�vote: AYES: P. Anderson, R. Anderson, Kehoe, Murray and McGeorge NOES: None ABSENT: None ABSTAIN: None . ` AVID L. c GE, yor A'TTEST: CONNIE STR HMAYER, C er� � � APPROVED: � � � ����� . . �\ ��' `tJ ' W. LEONARD WIN , City Attorney