HomeMy WebLinkAbout369 RDA_CCv0001.pdf RESOLUTION NO. 369
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT
AGENCY OF THE CITY OF REDLANDS AUTHORIZING THE USE AND LOW- AND
MODERATE-INCOME HOUSING FUNDS OUTSIDE THE REDLANDS PROJECT AREA
WHEREAS,to effectuate the provisions of the Redevelopment Plan for the Redlands Project
for the development of new and improved low-and moderate-income housing,the Redevelopment
Agency of the City of Redlands (the "Agency") proposes to authorize the allocation of low- and
moderate-income set-aside funds through the First Time Home Buyer's Program; and
WHEREAS, the Agency has determined that the use of low-and moderate-income housing
funds from the Redlands Project Area to assist in the refinancing of affordable housing units is
consistent with and in furtherance of the Redevelopment Plan for the City of Redlands and will be
of benefit to the citizens of the community as a whole and the Redlands Redevelopment Project
Area;
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE
REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS AS FOLLOWS:
Section 1. The Agency hereby finds that the use of low-and moderate-income housing funds
from the Redlands Redevelopment Project Area to assist in the refinancing of affordable housing
units located outside the project area is consistent with, and in furtherance of, the Redevelopment
Plan for the City of Redlands and will be a benefit to the community as a whole and the Redlands
Redevelopment Project Area.
Section 2. This Resolution shall take effect upon adoption.
ADOPTED, SIGNED AND APPROVED this 1 Sth day of November, 2003.
Chairman
ATTEST:
S retary
369 RDA.upd