HomeMy WebLinkAboutRDA Reso No 2010-002RESOLUTION NO. 2010-02 RDA
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY
OF LAKE ELSINORE, CALIFORNIA, ADOPTING THE
REDEVELOPMENT AGENCY OPERATING BUDGET FOR THE FISCAL
YEAR 2010-11
WHEREAS, the Redevelopment Agency of the City of Lake Elsinore ("Agency")
is a community redevelopment agency duly created, established and authorized to
transact business and exercise its powers, all under and pursuant to the California
Community Redevelopment Law (Part 1 of Division 24, commencing with Section
33000, of the Health and Safety Code of the State of California ("CRL"); and
WHEREAS, the Agency is engaged in activities necessary and appropriate to
carry out the Redevelopment Plans ("Redevelopment Plans") for the Lake Elsinore
Rancho Laguna Redevelopment Project Areas No. I, No. II, and No. III ("Project
Areas"); and
WHEREAS, the Agency annually deposits twenty percent (20%) of the tax
increment allocated to it into a separate Low and Moderate Income Housing Fund
("Housing Fund") to be used for the purpose of increasing, improving and preserving the
community's supply of affordable housing; and
WHEREAS, the Agency has adopted the 2005-2009 Amended and Restated
Redevelopment and Housing Implementation Plan (the "Implementation Plan") that
contains a work program, including the goals and objectives of the Agency for each
Project Area and with respect to the Housing Fund; and
WHEREAS, the Agency desires to adopt its operating budget for the 2010-11
fiscal year (FY 2010-11 Budget); and
WHEREAS, the FY 2010-11 Budget identifies for each Project Area and the
Housing Fund the following information: the proposed expenditures of the Agency, the
proposed indebtedness to be incurred by the Agency, the anticipated revenues of the
Agency, and a proposed work program, all in accordance with applicable provisions of
the CRL
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
LAKE ELSINORE DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The Agency finds and determines that the FY 2010-11 Budget is
consistent with the Agency's Implementation Plan and applicable provisions of the CRL.
SECTION 2. The Agency hereby finds and determines that the planning and
administrative expenses provided in the FY 2010-11 Budget to be made from the
Housing Fund are necessary for the production, improvement or preservation of low-
and moderate-income housing.
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Resolution No. 2010-02 RDA
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SECTION 3. The FY 2010-11 Budget is hereby adopted and a copy of the FY
2010-11 Budget shall be certified by the Agency Secretary and filed with the Executive
Director or a designated representative, and a further copy so certified shall be placed
and shall remain on file in the Office of the Agency Secretary where it shall be available
for inspection.
SECTION 3. This Resolution shall take effect from and after the date of its
passage and adoption.
PASSED, APPROVED, AND ADOPTED, at a regular meeting of the
Redevelopment Agency of the City of Lake Elsinore, California, on this 22nd day of
June 2010.
ROBERT MAGEEAIRMAN
LAKE ELSINORE DEVELOPMENTAGENCY
APPROVED AS TO FORM:
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B BARA L (BOLD, AGENCY COUNSEL
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Resolution No. 2010-02 RDA
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )ss.
CITY OF LAKE ELSINORE )
I, CAROL COWLEY, Agency Secretary, hereby certify that Resolution No. 2010-
02 RDA was adopted by the Redevelopment Agency, at their regular meeting held on
the 22nd day of June 2010, and that the same was adopted by the following vote:
AYES: BOARD MEMBERS: BHUTTA, HICKMAN, MELENDEZ, VICE-CHAIR
BUCKLEY AND CHAIRMAN MAGEE
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
AGENCY S
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