HomeMy WebLinkAboutReso 2011-064 - Market Street Redevelopment Project Area
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RESOLUTION NO. 2011 - 64
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
FINDING THAT THE USE OF TAXES ALLOCATED FROM THE MARKET
STREET REDEVELOPMENT PROJECT AREA FOR THE PURPOSE OF
IMPROVING, PRESERVING, AND INCREASING THE COMMUNITY'S SUPPLY
OF LOW- AND MODERATE-INCOME HOUSING OUTSIDE THE PROJECT
AREA WILL BE OF BENEFIT TO THE PROJECT
WHEREAS, the City of Redding adopted Ordinance No. 974 on July 3, 1968, as amended by
Ordinance No. 1173 on August 5, 1974, Ordinance No. 1295 on November 29, 1976, and Ordinance No.
1299 on December 20, 1976, approving and adopting the Redevelopment Plan for Midtown Project No. I,
Calif. R-20; and
WHEREAS, on July 3, 1990, City of Redding Ordinance No. 1923 was introduced for first reading
and subsequently adopted on July 17, 1990, amending Ordinance No. 974, as amended by Ordinance Nos.
1173, 1295, and 1299, thereby adopting the Amended Redevelopment Plan for the Market Street
Redevelopment Project adding additional territory; and
WHEREAS, on July 3, 1990, the Agency adopted Resolution No. 90-17 finding that the use oftaxes
allocated from the Market Street Project Area's added area for the purpose of improving and increasing the
community's supply oflow- and moderate-income housing outside the Market Street Project Area will be
of benefit to the Market Street Project Area; and
WHEREAS, Section 33334.2 ofthe California Community Redevelopment Law [Health and Safety
(H&S) Code Section 33000 et seq.] requires that not less than twenty percent (20%) of all taxes allocated
to the Agency be used by the Agency for the purpose of improving, preserving, and increasing the
community's supply oflow- and moderate-income housing available at affordable housing cost; and
WHEREAS, the Agency each year, in accordance with H&S Code Section 33334.2 allocates no less
than twenty percent (20%) of all taxes allocated to the Agency for the purpose of improving, preserving, and
increasing the community's supply oflow- and moderate-income housing available at an affordable housing
cost; and
WHEREAS, Section 33334.2(g) of the H&S Code provides that an agency may use such funds
outside the project area if a finding is made by resolution of the agency and the legislative body that such I
use will be of benefit to the project; and
WHEREAS, the Agency desires to utilize funds from the Market Street Project Area's Low- and
Moderate-Income Housing Fund (LMIHF) to assist in the financing of housing activities, both inside and
outside the Project Area, for the purpose of meeting its regulatory obligations as set forth in H&S Code
Sections 33334.4, 33413(a), and 33413(b); and
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WHEREAS, pursuant to H&S Code Section 33334.6, the Legislature has found and declared that
the provision and improvement of affordable housing, as provided in H&S Code Section 33334.2, outside
of redevelopment project areas, can be of direct benefit to those projects in assisting the accomplishment
of project objectives whether or not those redevelopment projects provide for housing within the project
area. The Legislature further found and determined that the provision of affordable housing by
redevelopment agencies and the use of taxes allocated to the agency pursuant to subdivision (b) of H&S
Code Section 33670 is of statewide benefit and of particular benefit and assistance to all local governmental
agencies in the areas where the housing is provided.
NOW, THEREFORE, THE CITY COUNCIL OFTHE CITY OF REDDING DOES HEREBY
FIND AND RESOLVE the following:
1. That the foregoing recitals are true and correct.
2. That the use oftaxes allocated from the Market Street Project Area's LMIHF, both inside and
outside the Project Area, will be of benefit to the Market Street Project Area by: (1) assisting the Agency
to meet regulatory obligations contained in H&S Code Sections 33334.4, 33413(a) and (b) through the
financing of affordable housing activities, including, but not limited to, property acquisition, new
construction, rehabilitation, and direct loan and grant programs to homebuyers and property owners, i.e.,
Paint Voucher Program, Homebuyer Program and Homeowner Incentive Program; (2) assisting in the
accomplishment of the Market Street Project Area's objectives; and (3) improving, preserving, and
increasing the community's affordable housing stock.
I HEREBY CERTIFY that the foregoing resolution was introduced and read at a special meeting
of the City Council of the City of Redding on the 20th day of June, 2011, and was duly adopted at said
meeting by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN :
COUNCIL MEMBER:
COUNCIL MEMBER:
COUNCIL MEMBER:
COUNCIL MEMBER:
Bosetti, Dickerson, Jones, Sullivan, and McArthur
None
None
None
ATTEST; ,
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APPROVED AS TO FORM:
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