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6/12/07 LES RESOLUTION NO. eRA 2007-003 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA ADOPTING THE FISCAL YEAR 2007-2008 BUDGET BE IT RESOLVED BY THE MEMBERS OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: Section 1. 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 2007-2008 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 Agency hereby finds and determines that the planning and administrative expenses to be paid from the Low and Moderate Income Housing Fund for each redevelopment project are necessary for the production, improvement, or preservation of low- and moderate-income housing pursuant to Health and Safety Code S 33334.3(d) and are not disproportionate to the amounts budgeted for the costs of production, improvement or preservation of that housing. Such costs are necessary and proportionate to the amount proposed for actual housing assistance activities for the year. E. The Agency hereby finds that the planning and administrative expenses budgeted last fiscal year from the Low and Moderate Income Housing Fund were necessary and appropriate for the production, improvement, or preservation of low- and moderate-income housing pursuant to Health and Safety Code S 33334.3(d) and were not disproportionate to the amounts actually spent last year for the costs of production, improvement or preservation of that housing. F. 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 Resolution No. eRA 2007-003 Page 1 of 3