HomeMy WebLinkAbout196 RDA_CCv0001.pdf RESOLUTION NO. 196
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF REDLANDS MAEING A FINDING RELATING TO THE
REDLANDS DOWNTOWN REDEVELOPMENT PROJECT LOW AND
MODERATE INCOME HOUSING FUND DEPOSITS PURSUANT
TO SECTION 33334.6 OF THE COMMUNITY REDEVELOPMENT
LAW
WHEREAS, the Redevelopment Plan ("Redevelopment Plan") for the
Redlands Downtown Redevelopment Project ("Project") in the City of
Redlands was approved by the Redevelopment Agency and the City Council
of the City of Redlands on September 26, 1972 and amended on February 17,
1986; and
WHEREAS, Section 33334.6(c) of the California Community
Redevelopment Law (Health and Safety Code, Section 33000 et seq.) provides
that unless the Redevelopment Agency by resolution makes----one of the
findings described in paragraphs (1) to (3), inclusive, of subdivision (a) of
Section 33334.2, not less than 20 percent of the Project tax increment
revenues allocated to the Agency pursuant to Section 33670 of the 1985-86
fiscal year and each succeeding fiscal year shall be deposited into a Low
and Moderate Income Housing Fund for the Project established pursuant to
Section 33334.3 to be used for the purposes set forth in Section 33334.2,
except that:
A) In any fiscal year, the Agency may deposit less than 20
percent of such Project tax increment revenues into the Project Low and
Moderate Income Housing Fund if the Agency finds that the difference
between the amount deposited, or to be deposited, and the amount required
to be deposited (20 percent of Project tax increment revenues) is necessary
to make payments of amounts due or required to be committed, set aside, or
reserved by the Agency to finance or refinance, in whole or in part, the
Project ("Existing Obligations") which Existing Obligations are contained in a
statement of Existing Obligations adopted by resolution of the Agency prior
to September 1, 1986; and
B) In each fiscal year prior to July 1, 1996, the Agency may
deposit less than the amount required to be deposited (20 percent of Project
tax increment revenues, less payments of amounts due or required to be
committed, set aside, or reserved during the fiscal year under Existing
Obligations) into the Low and Moderate Income Housing Fund if the Agency
finds that the deposit of such less amount is necessary in order to provide
for the orderly and timely completion of public and private projects,
programs, or activities approved by the Agency prior to January 1, 1986
and which are contained in a Statement of Existing Programs adopted by
resolution of the Agency prior to September 1, 1986; and
WHEREAS, the Agency adopted Resolution No. 195 on
1986 which adopted the Statement of Existing Obligations or Programs or
Both of the Redlands Downtown Redevelopment Project listing obligations
incurred and programs approved prior to January 1, 1986; and
I
WHEREAS, the payments required for the obligations adopted in
the Statement of Existing Obligations or Programs or Both in Resolution
No. 19.5_ is $6,824,996 during fiscal year 1985-86; and
WHEREAS, 1985-86 revenues allocated or to be allocated to the
Redlands Downtown Redevelopment Project pursuant to Section 33670 of the
Health and Safety Code are estimated to be $2,059,000; and
WHEREAS, of the taxes allocated for the Project pursuant to
Section 33670 of the CRL for the 1985-86 fiscal year an estimated minimum of
$411,800 is to be deposited into the Low and Moderate Income Housing Fund
pursuant to Section 33334.6(c) of the Community Redevelopment Law except
as otherwise permitted by subdivisions (d) and (e) of said Section.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
SIGNAL HILL does hereby resolve as follows:
SECTION 1. The Agency hereby finds that the difference
between tfie"..........amount--' -- -' deposited, or to be deposited into the Low and Moderate
Income Housing Fund of the Redlands Downtown Redevelopment Project for
the 1985-86 fiscal year and the amount required to be deposited pursuant to
Section 33334.6(e) of the CRL is $411,800, and further finds that such
amount is necessary to make payments of amounts due or required to be
committed, set aside, or reserved by the Agency during the 1985-86 fiscal
year under existing obligations and programs incurred and adopted by the
Agency to finance or refinance, in whole or in part, the Project and to
provide for the orderly and timely completion of the programs, which
existing obligations and programs are contained in the Statement of Existing
Obligations or Programs or Both adopted by Resolution No. 195 of the
Agency on 8/26 , 1986.
SECTION 2. The Agency directs that pursuant to the above
finding no deposits are to be made to the Low and Moderate Income Housing
Fund for the Redlands Downtown Redevelopment Project for the 1985-86
fiscal year.
PASSED, "PROVED AND ADOPTED THIS 26th DAY OF Au . 1986.
APFROVED:
Ze,
.............................................
CHAIRMAN
ATTEST:
I, Lorrie Poyzer, Secretary of the Redevelopment Agency of
the City of Redlands, hereby certify that the foregoing
resolution was adopted by the Board of Directors of the
Redevelopment Agency of the City of Redlands at a special
meeting thereof held on the 26th day of August, 1986, by the
following vote:
AYES: Members Larsen, DeMirjyn, Johnson, Wormser;
Chairman Beswick
NOES: None
ABSENT: None
Lorrie , e r tart'
ary
Poyser, y 0
Redev lopmen y of the
City of Redlands, California