HomeMy WebLinkAboutReso 1990-340 - Taxes allocated from the added area of the proposed amended market street redevelopment •
RESOLUTION NO. 967'...44k7
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING FINDING THAT THE
USE OF TAXES ALLOCATED FROM THE ADDED AREA OF THE PROPOSED AMENDED MARKET
STREET REDEVELOPMENT PROJECT FOR THE PURPOSE OF IMPROVING AND INCREASING
I' THE COMMUNITY'S SUPPLY OF LOW- AND MODERATE-INCOME HOUSING OUTSIDE THE
11 PROJECT AREA WILL BE OF BENEFIT TO THE PROJECT.
WHEREAS, the Redding Redevelopment Agency (the "Agency") has prepared a
proposed Amended Redevelopment Plan (the "Amended Plan") for the Market Street
Redevelopment Project (the "Project") , which would result in the allocation of
taxes from certain area proposed to be added to the Project Area by the
Amended Plan (the "Added Area") to the Agency for the purposes of
redevelopment; and
WHEREAS, Section 33334.2 of the California Community Redevelopment Law
(Health and Safety Code Section 33000 et seq. ) requires that not less than
Ir twenty percent (20%) of all taxes so allocated be used by the Agency for the
purpose of improving and increasing the community's supply of low- and
moderate-income housing available at affordable housing cost; and
WHEREAS, Section 33334.2(g) of the Health and Safety Code provides that
the Agency may use such funds outside the Project Area if a finding is made by
resolution of the Agency and the City Council that such use will be of benefit
to the Project;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDDING DOES HEREBY
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RESOLVE that the use of taxes allocated from the Added Area of the Project
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Area for the purpose of improving and increasing the community' s supply of
low- and moderate-income housing available at affordable housing cost outside
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the Project Area and within the City of Redding will be of benefit to the
Project.
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I HEREBY CERTIFY that the foregoing resolution was introduced and read at
a regular meeting of the City Council of the City of Redding on the 3rd day
of July , 1990, and was duly adopted at said meeting by the following
vote:
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AYES: COUNCIL MEMBERS: Arness, Fulton, Moss, Dahl
NOES: COUNCIL MEMBERS: None
;: ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: Buffum
--A111
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MIKE DAHL, Vice Mayor
City of Redding
ATTEST:
ETHEL A. NICHOL , City Clerk
FORM APPROVED:
,
, DALL A. HAYS, Ci' y A/orney
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