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06/11/02LS RESOLUTION NO. 2002-03 A RESOLUTION OF THE REDEVELOPMENT AGENCY OF SANTA ANA ADOPTING THE 2002-2003 BUDGET COMMUNITY THE CITY OF FISCAL YEAR BE IT RESOLVED BY THE MEMBERS OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: 1. Findinqs. The Community Redevelopment Agency of the City of Santa Ana conclusively finds, determines and declares as follows: a. Pursuant to Health & Safety Code S 33606, the Community Redevelopment Agency of the City of Santa Ana ("Agency") must adopt an annual budget b. The draft budget for fiscal year 2002-2003 presented to the Agency is designed to further implement the Agency's mandate to reduce or eliminate the physical and economic conditions that cause blight within the City of Santa Ana. The Projects are consistent with the 5-Year Implementation Plan, the Redevelopment Plans (as amended) and the reduction and/or elimination of blight c. The Legislature has concluded that the term "redevelopment" includes provision for open-space types of use, such as streets and other public grounds and space, and the replanning or redesign of stagnant or improperly utilized areas which exist because of defective or inadequate street layout d. The planning and administrative expenses included in the Agency budget are reasonable and necessary costs for the production, improvement, or preservation of low- and moderate-income housing pursuant to Health and Safety Code S 33334.3(d). Such costs are necessary and proportionate to the amount proposed for actual housing assistance activities for the year; e. The Agency has retained certain interests in real property acquired using moneys from the Low and Moderate Income Housing Fund, and has not initiated activities consistent with the development of the property for the development of housing affordable to persons and families of low and moderate income within the statutory five (5) year period. The addresses of said properties include the following: 807 E. Santa Ana Boulevard; 1402 S. Parton; 814 N. Garfield; 714 E. Santa Ana Boulevard; 322 E. Adams; 612,614, 622 E. Santa Ana Boulevard; 217-219 S. Birch Street; and 818 N. Garfield. The Agency intends that said properties shall be used for the development of housing affordable to persons and families of low and moderate income, and hereby requests a five (5) year extension in furtherance of said purpose pursuant to Health and Safety Code S 33334.16. f. The Agency will satisfy the ten (10) year Education Revenue Augmentation Fund ("ERAF") debt obligation this fiscal year with the final annual payment of One Million Dollars ($1,000,000);