My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1994-03 CRA
Clerk
>
Resolutions
>
COMMUNITY REDEVELOPMENT AGENCY (1974-2012)
>
1990-1999
>
1994
>
1994-03 CRA
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/3/2012 12:21:15 PM
Creation date
3/3/2005 9:50:03 AM
Metadata
Fields
Template:
City Clerk
Doc Type
Resolution
Doc #
CRA 1994-03
Date
8/15/1994
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
3
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 94-3 <br /> <br />A RESOLUTION OF THE COMMUNITY REDE- <br />VELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA MAKING CERTAIN FINDINGS <br />PURSUANT TO SECTION 33334.2 OF THE <br />COMMUNITY REDEVELOPMENT LAW FOR <br />FISCAL YEAR 1994-95. <br /> <br />WHEREAS, section 33334.6 was added to the Community <br />Redevelopment Law (Health and Safety Code sections 33000 et seq.) <br />by Chapter 1135 of the Statutes of 1985 of the State of California <br />(Assembly Bill No. 265); and <br /> <br />WHEREAS, said section 33334.6 has the effect of requir- <br />ing, subject to certain exceptions, that the Community Redevelop- <br />ment Agency of the city of Santa Ana (the "Agency") deposit at <br />least twenty percent of the tax increment revenues from its <br />original ("Central City") redevelopment project area (as estab- <br />lished by the Santa Ana Redevelopment Plan as amended by Ordinance <br />No. NS-1258 on June 2, 1975) into said Agency's "Low and Moderate <br />Income Housing Fund"; and <br /> <br />WHEREAS, among the exceptions to said requirement is the <br />exception set forth in paragraph (3) of subdivision (a) of section <br />33334.2 of the Community Redevelopment Law, to the effect that the <br />Agency may, in lieu of providing such deposit into the "Low and <br />Moderate Income Housing Fund" from its tax increment revenue from <br />the "Central City" project area, provide an equivalent deposit of <br />funds derived from other sources; and <br /> <br />WHEREAS, the City of Santa Ana has created five redevel- <br />opment project areas in addition to the "Central city" redevelop- <br />ment project area, and the Agency has, in three of these additional <br />project areas, allocated tax increment revenues well in excess of <br />the twenty percent minimum allocation to its "Low and Moderate <br />Income Housing Fund"; and <br /> <br />WHEREAS, the total of such excess allocations exceeds <br />twenty percent of the tax increment revenues derived from the <br />"Central City" project area for fiscal year 1994-95; and <br /> <br />WHEREAS, the Agency has entered into contractual <br />obligations to bondholders prior to 1991 with regard to the <br />"Central city" project area in reliance on the ability of the <br />Agency to provide deposits into the "Low and Moderate Income Fund" <br />equivalent to twenty percent of the tax increment revenue from that <br />project area from other sources, which obligations would be <br />impaired if the Agency were not able to do so; <br />
The URL can be used to link to this page
Your browser does not support the video tag.