HomeMy WebLinkAboutReso. 1990-518 - Finding that use of Taxes Allocated from Proposed Amendment to the Canby-Hilltop-Cypress Redevelopment Project be of Benefit to the Project . � � .
RESOLUTION N0. 9p_S/$
A RESOLUTION OF T}�E CITY COUNCIL OF THE CITY OF REDDING FINDING THAT THE
USE OF TAiSES ALLOCATED FROM THE ADDED }1REA OF THE PROPOSED AMENDMENT TO
THE CANBY-HiLLTOP-CYPRESS REDEVELOPMENT PROJECT FOR THE PURPOSE OF
IMPROVING AND INCREASTNG THE COMMUNITY' S SUPPLY OF LOW- AND MODERATE-
INCOME HOi1SING OUTSIDE THE PROJECT AREA WILL BE OF BENEFZT TO THE
PROJECT.
WHEREAS, the Redding Redevelopment Agency (the "Agency") has prepared a
proposed Amendment to the Redevelopment Plan ( the "Amendment") for the Canby-
Hill.top-Cypress 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 Amendment ( the "Added Area") to the Agency for the purposes of
redevelopment; and
WHEREAS, Section 3333�i .2 of the California Community Redevelopment Law
(Health and Safety Code Section 33000 et se�c . ) requires that not less than
twenty percent (20�) of all taxes so allocated be used by the Agency for the
purpose of improving and increasing the cort¢nunity'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
RESOLVE that the use of taxes allocated from the Added Area of the Project
Area for the purpose of improving and increasing the coaununity's s�pply of
low- and moderate-income housing available at affordable housing cost outside
the Project Area and within the City of Redding w:i.11 be of benefit to the i"
Project. �
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I HEREBY CERTIFY that the foregoing resolution was introduced and read at
a regular meeting of the City Co�ncil oE the City of Redding on the 16th day
of OCtober , 1990, and was duly adopted at said meeting by the following
vote:
AYES: COUNCIL MEMBERS: Al^t1e55 , Dahl , Fulton, htoss & Buffum
NOES: COUNCIL MEMBERS: NOne
ABSENT: COUNCIL MEMBERS: NOtle
ABSTAIN: COUNCIL MEMBERS: NOf12
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Y UFF M, Mayo /
City of� edding
ATTEST:
c�Q �.�.c.�[.
ETHEL A. NICHOLS, City C1erk
FORM APPROVED:
/VIu�✓!� � .f�6vv
RAN ALL A. HAYS, ity ttorney
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