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<br />. <br /> <br />I <br /> <br />. <br /> <br />RESOLUTION NO. 99-1 <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY <br />OF THE CITY OF SANTA ANA ADOPTING A <br />MORTGAGE CREDIT CERTIFICATE PROGRAM IN <br />COOPERATION WITH THE COUNTY OF ORANGE, AUTHORIZING <br />AN APPLICATION TO THE CALIFORNIA DEBT LIMIT <br />ALLOCATION COMMITTEE FOR AN ALLOCATION FOR THE <br />ISSUANCE OF MORTGAGE CREDIT CERTIFICATES AND <br />THE TRANSFER OF SUCH ALLOCATION TO THE COUNTY OF ORANGE <br /> <br />WHEREAS, there is a shortage in the County of Orange (the <br />"County") and in the City of Santa Ana (the "City") of decent, <br />safe, and sanitary housing, particularly of housing affordable by <br />first-time home buyers, and a consequent need to encourage the <br />availability of homes affordable by such persons and otherwise to <br />increase the housing supply in the City and in the County for <br />such persons; and <br /> <br />WHEREAS, the Board of Supervisors of the County has declared <br />its intent to engage in a mortgage credit certificate program <br />(the "Program") pursuant to Part 5 of Division 31 of the Health <br />and Safety Code of the State of California (the "Act") and to <br />issue mortgage credit certificates pursuant to the Act to provide <br />funds for the Program; and <br /> <br />WHEREAS, the Community Redevelopment Agency of the City of <br />Santa Ana (the "Agency") hereby finds and determines that the <br />project areas of the Agency will be benefited by the operation of <br />the Program both within and without the project areas of the <br />Agency, but within the boundaries of the City; and <br /> <br />WHEREAS, the City has found and determined that the project <br />areas of the Agency will be benefited by the operation of the <br />Program both within and outside the project areas of the Agency, <br />but within the boundaries of the City; and <br /> <br />WHEREAS, the Agency hereby finds and determines that it is <br />in the best interest of the Agency to participate in the Program <br />and to consent to the operation of the Program by the County <br />within the geographic boundaries of the project areas of the <br />Agency and within the boundaries of the City; and <br /> <br />WHEREAS, the Agency desires to enter into a Cooperative <br />Agreement with the County to permit the operation of the Program <br />within the boundaries of the City; and <br />