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HomeMy WebLinkAbout1989-09 CRA "" . . . . . < r" REL:mb(14) 5/31/88 Rev. 7/20/89 RESOLUTION NO. 89-09 A RESOLUTION OF THE COMMUNITY REDEVELOP- MENT AGENCY OF THE CITY OF SANTA ANA MAKING CERTAIN FINDINGS PURSUANT TO SECTION 33334.2 OF THE COMMUNITY RE- DEVELOPMENT LAW FOR FISCAL YEAR 1989-90. WHEREAS, section 33334.6 was added to the Community Redevelopment Law (Health and Safety Code Sections 33000 et ~.) by Chapter 1135 of the Statutes of 1985 of the State of Cali- fornia (Assembly Bill No. 265); and WHEREAS, said section 33334.6 has the effect of re- quiring, subject to certain exceptions, that the Community Redevelopment Agency of the City of Santa Ana (the "Agency") deposit at least 20 percent of the tax increment revenues from its original ("Central City") redevelopment project area (as established by the Santa Ana Redevelopment Plan as amended by Ordinance No. NS-1258 on June 2, 1975) into said Agency's "Low and Moderate Income Housing Fund;" and WHEREAS, among the exceptions to said requirement is the exception set forth in paragraph (3) of subdivision (a) of section 33334.2 of the Community Redevelopment Law, to the effect that the Agency may, in lieu of providing such deposit into the "Low and Moderate Income Housing Fund" from its tax increment revenues from the "Central City" project area, pro- vide an equivalent deposit of funds derived from other sources; and WHEREAS, the City of Santa Ana has created four redevelopment project areas in addition to the "Central City. redevelopment project area, and the Agency has, in three of these additional project areas, allocated tax increment revenues well in excess of the 20 percent minimum allocation to its "Low and Moderate Income Housing Fund;" and WHEREAS, the total of such excess allocations exceeds 20 percent of the tax increment revenues derived from the "Central City Project Area" for fiscal year 1989-1990: NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: 1. Pursuant to paragraph (3) of subdivision (a) of section 33334.2 of the Community Redevelopment Law, the Community Re- development Agency of the City of Santa Ana hereby finds and determines as follows: 4A 7 . 18 . . . " . RESOLUTION NO. 89-09 PAGE TWO (a) The City of Santa Ana is making a substantial effort to meet its existing and projected housing needs, including its share of regional housing needs, with respect to persons and families of lOW and moderate income, particularly very low income households, as identified in the housing element of the City of Santa Ana's general plan, and this effort, con- sisting of direct financial contributions of local funds used to increase and improve the supply of housing affordable to persons of low or moderate income and very low income house- holds, is equivalent in impact to the funds otherwise required to be set aside from the "Central City" project area by section 33334.2 of the Community Redevelopment Law. (b) The abovesaid effort consists of the allocation to the "Low and Moderate Income Housing Fund" of the Agency of more than the legally required proportion (20%) of the tax increment revenues from three redevelopment project areas, to wit: the "Santa Ana Inter-City Commuter Station" project area, the "Santa Ana North Harbor Boulevard" project area, and the "Santa Ana South Harbor Boulevard" project area (hereinafter referred to collectively as the "other project areas"). In fis- cal year 1989-90: (1) Tax increment revenues from the "Central City" project area are projected to be $7,314,000.00. Twenty percent of said tax increment revenue total is $1,462,800.00. (2) Total tax increment revenues from the other project areas are projected to be $7,223,000.00. The pro- portion of said tax increment revenues which is legally required to be allocated to the "Low and Moderate Income Housing Fund" (20%) is $1,444,600.00. The amount of said revenues which will actually be allocated to the "Low and Moderate Income Housing Fund" is projected to be $3,427,500.00, an excess of $1,982,900.00 over the legally required pro- portion (the "excess allocation"). (3) The excess allocation of tax increment revenues from the other project areas will be greater than 20 percent of the tax increment revenues of the "Centfal City" project area. Therefore, the effort to meet the lOW and moderate income housing needs of the City of Santa Ana from revenue sources other than tax increment revenue from the "Central City" project area is more than equivalent in 4A ð .' .. ., " . 'e . . . . RESOLUTION NO. 89- 09 PAGE THREE impact to the funds that would otherwise be required to be allocated from the "Central City" project area tax increment revenues. 2. The Executive Director is directed to send a copy of this resolution, together with the factual information supporting the findings herein made, to the Department of Housing and Com- munity Development of the State of California within ten (10) days after the date of adoption of this resolution. ADOPTED THIS by the following vote: day of October , 1989, 17th AYES: MEMBE RS: ACOSTA, MAY, NORTON, PULIDO, YOUNG NOES: MEMBE RS : ABSENT: MEMBE RS: GRISET, MCGUIGAN ATTEST: ~:~ Cynt ia J. e son Executive Director/Recording Secretary APPROVED AS TO FORM: er ounsel q 4A