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06/11/02LS <br />RESOLUTION NO. CRA 2004 -08 <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA ADOPTING THE FISCAL YEAR <br />2004 -2005 BUDGET <br />BE IT RESOLVED BY THE MEMBERS OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: <br />1. Findings. The Community Redevelopment Agency of the City of Santa Ana <br />conclusively finds, determines and declares as follows: <br />a. Pursuant to Health & Safety Code § 33606, the Community <br />Redevelopment Agency of the City of Santa Ana ( "Agency ") must adopt an annual budget. <br />b. The draft budget for fiscal year 2004 -2005 presented to the Agency is <br />designed to further implement the Agency's mandate to reduce or eliminate the physical and <br />economic conditions that cause blight within the City of Santa Ana. The Projects are consistent <br />with the 5 -Year Implementation Plan, the Redevelopment Plans (as amended) and the <br />reduction and /or elimination of blight. <br />C. The Legislature has concluded that the term "redevelopment" includes <br />provision for open -space types of use, such as streets and other public grounds and space, <br />and the replanning or redesign of stagnant or improperly utilized areas which exist because of <br />defective or inadequate street layout. <br />d. The Agency hereby finds and determines that the planning and <br />administrative expenses to be paid from the Low and Moderate Income Housing Fund for each <br />redevelopment project are necessary for the production, improvement, or preservation of low - <br />and moderate - income housing pursuant to Health and Safety Code § 33334.3(d) and are not <br />disproportionate to the amounts budgeted for the costs of production, improvement or <br />preservation of that housing. Such costs are necessary and proportionate to the amount <br />proposed for actual housing assistance activities for the year. <br />e. The Agency has retained certain interests in real property acquired using <br />moneys from the Low and Moderate Income Housing Fund, and has not initiated activities <br />consistent with the development of the property for the development of housing affordable to <br />persons and families of low and moderate income within the statutory five (5) year period. The <br />addresses of the two properties are as follows: 622 N. Lacy and 625 N. Garfield. The Agency <br />intends that these two properties shall be used for the development of housing affordable to <br />persons and families of low and moderate income, and hereby requests a five (5) year <br />extension in furtherance of said purpose pursuant to Health and Safety Code § 33334.16. <br />f. The Agency will satisfy the ten (10) year Education Revenue <br />Augmentation Fund ( "ERAF ") debt obligation this fiscal year with the final annual payment of <br />One Million Fifty Eight Thousand Thirteen Dollars ($1,058,013). <br />3 <br />