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<br />. <br /> <br />. <br /> <br />. <br /> <br />of authority to issue mortgage credit certificates and elects to <br /> <br />transfer to the county pursuant to section 8869.85(d) of the <br /> <br />Government Code, the total amount, if any, of authority allocated <br /> <br />to the Agency; and <br /> <br />WHEREAS, one percent of the amount of the allocation to be <br /> <br />requested on behalf of the Agency is to be held in an account <br /> <br />established by the Agency pursuant to section 8869,84 of the <br /> <br />Government Code and the regulation of the CDLAC; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY <br /> <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: <br /> <br />section 1. <br /> <br />Each of the foregoing recitals is true and <br /> <br />correct. <br /> <br />section 2. <br /> <br />The Agency hereby adopts the Program for the <br /> <br />purpose of increasing the housing supply in the County and in the <br /> <br />city and consents to the operation of the Program by the County <br /> <br />with respect to all property located within the geographic <br /> <br />boundaries of the city, including the payment to the County of <br /> <br />the Agency's proportionate share (based upon the number of <br />participants in the Program) of administration costs applicable <br /> <br />to each allocation received from CDLAC, which share is estimated <br /> <br />not to exceed $15,000. <br /> <br />section 3. <br /> <br />The Executive Director, or his designee, is <br /> <br />authorized, on behalf of the Agency, to take such steps and <br /> <br />execute such documents as necessary for the submission of an <br /> <br />application to CDLAC on behalf of the Agency for an allocation in <br /> <br />the amount of $5,000,000 for application to the issuance of <br /> <br />mortgage credit certificates by the County. <br />