55B - RESO PROP 1C TOD - Laserfiche WebLink

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2/21!08 les RESOLUTION NO. 2008- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA AUTHORIZING THE SUBMITTAL OF AN APPLICATION TO THE CALIFORNIA STATE DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT FOR FUNDING UNDER THE TRANSIT ORIENTED DEVELOPMENT PROGRAM; THE EXECUTION OF A STANDARD AGREEMENT AND ANY AMENDMENTS THERETO, IF SELECTED FOR SUCH FUNDING; AND ANY RELATED DOCUMENTS NECESSARY TO PARTICIPATE IN THE TRANSIT ORIENTED DEVELOPMENT PROGRAM BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The City Council of the City of Santa Ana hereby finds, determines and declares as follows: A. The City of Santa Ana, a political subdivision of the State of California, wishes to apply for and receive an allocation of funds through the Transit Oriented Development Program (TOD). B. The California Department of Housing and Community Development (hereinafter referred to as "HCD") has announced the availability of $95 million through the TOD. The TOD Program is amulti-faceted housing program created by the State of California that utilizes funds made available by the passage of Proposition 1 C, the Housing and Emergency Shelter Trust Fund Act of 2006. C. TOD funds are available to local public agencies and private developers for a variety of activities that increase the supply of affordable housing, increase public transit ridership, and minimize automobile trips. D. Proposed activities must support the development of affordable housing located within a quarter mile of the transit center. In order to qualify, housing projects must have at least fifty dwelling units, and a minimum net density of forty dwelling units per acre. Additionally, at least 15% of the units must be restricted for low and moderate income households. E. Under the proposed application to HCD, the City is requesting an allocation of TOD funds for an infrastructure grant to support the development of a qualified housing project. 55B-4