2009-008 CRA - Laserfiche WebLink

Home Browse Search

RESOLUTION 2009-008 ~.. 5!15109 les A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING THE OPERATION OF A MORTGAGE CREDIT CERTIFICATE PROGRAM BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA OUTSIDE THE MERGED PROJECT AREA OF THE AGENCY, BUT WITHIN CITY BOUNDARIES 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 finds, determines and declares as follows: A. The Community Redevelopment Agency of the City of Santa Ana (the "Agency") and the City of Santa Ana ("City") have determined the importance of participation in a Mortgage Credit Certificate Program (the "Program") for the benefit of first-time homebuyers to be administered by the County of Orange (the "County") pursuant to the provisions of Part 5 of Division 31 of the Health and Safety Code of the state of California (the "Act") and the Internal Revenue Code of 1986 (the "Code"). B. The Program will be operated both within the merged project area of the Agency and outside such area, but within the boundaries of the City of Santa Ana. C. The Agency and the County will enter into a Cooperative Agreement ("Agreement") for the County to administer the Program. Under the terms of the Agreement, the Agency will be required to pay a proportionate share of the administrative costs of the Program. D. The Agency finds and declares that such expenditures will be of benefit to the entire merged project area, and to all residents of the City. This finding is made pursuant to Health & Safety Code § 33334.2(g)(1). E. The County of Orange will apply for an allocation from the California Debt Limit Allocation Committee ("CDLAC") for authority to issue mortgage credit certificates, which allocation, when and if received, will be made available to the Agency and other participating cities. NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: Section 2. The Community Redevelopment Agency finds that each of the foregoing recitals is true and correct.