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. . . . . . REL:adg-24 7/29/86 RESOLUTION NO. 86-49 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA MAKING CERTAIN FINDINGS PURSUANT TO SECTION 33334.2 OF THE COMMUNITY REDEVELOPMENT LAW WHEREAS, section 33334.6 was added to the Community Redevelopment Law (Health and Safety Code Sections 33000 et~) by Chapter 1135 of the Statutes of 1985 of the State of Califor- nia (Assembly Bill No. 265); and WHEREAS, said section 33334.6 has the effect of re- quiring, subject to certain exceptions, that the Community Re- development Agency of the City of Santa Ana (the "Agency") deposit at least 20 percent of the tax increment revenues from its original ("Downtown") redevelopment project area (as established by the Santa Ana Redevelopment Plan as amended by Ordinance No. NS-1258 on June 2,1975) into said Agency's "Low and Moderate Income Housing Fund;" and WHEREAS, among the exceptions to said requirement is the exception set forth in paragraph (3) of subdivision (a) of section 33334.2 of the Community Redevelopment Law, to the effect that the Agency may, in lieu of providing such deposit into the "Low and Moderate Income Housing Fund" from its tax increment revenues from the "Downtown" project area, provide an equivalent deposit of funds derived from other sources; and WHEREAS, the City of Santa Ana has created four re- development project areas in addition to the "Downtown" re- development project area, and the Agency has, in three of these additional project areas, allocated tax increment revenues well in excess of the 20 percent minimum allocation to its "Low and Moderate Income Housing Fund;" and WHEREAS, the total of such excess allocations exceeds 20 percent of the tax increment revenues derived from the "Down- town Project Area" both for fiscal year 1985-1986 and 1986-1987; NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: 1. Pursuant to paragraph (3) of subdivision (a) of section 33334.2 of the Community Redevelopment Law, the Com- munity Redevelopment Agency of the City of Santa Ana hereby finds and determines as follows: