HomeMy WebLinkAboutRDA Reso No 2010-006RESOLUTION NO. 2010-006 RDA
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
LAKE ELSINORE MAKING VARIOUS FINDINGS RELATED TO THE
AGENCY'S LOW AND MODERATE INCOME HOUSING FUND
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. 11, and No. III ( "Project Areas ")
which were adopted by the Agency's legislative body, the City Council of the City of
Lake Elsinore ( "City Council "), by Ordinance No. 607 on September 23, 1980 and
thereafter amended by Ordinance No. 624 on July 20, 1981, Ordinance No. 987 on
November 22, 1994, Ordinance No. 1249 on February 26, 2008 and Ordinance No.
1260 on April 28, 2009 (Project Area No. 1), by Ordinance 671 on July 18, 1983 and
thereafter amended by Ordinance No. 987 on November 8, 1994, Ordinance No. 1249
on February 26, 2008 and Ordinance No. 1261 on April 28, 2009 (Project Area No. II),
and by Ordinance No. 815 on September 8, 1987 and thereafter amended by
Ordinance No. 987 on November 8, 1994, Ordinance No. 1249 on February 26, 2008
and Ordinance No. 1262 on April 28, 2009 (Project Area No. III); and
WHEREAS, pursuant to Section 33334.2(a) of the CRL, not less than twenty
percent (20 %) of all taxes which are allocated to the Agency shall be set aside by the
Agency in a Low and Moderate Income Housing Fund ( "Housing Fund ") and used by
the Agency for the purpose of increasing, improving and preserving the community's
supply of low and moderate income housing available at affordable housing costs to
persons and families of low and moderate income; and
WHEREAS, pursuant to Section 33334.3 of the CRL, agencies are required to
maintain a separate accounting of the Agency's Housing Fund; and
WHEREAS, pursuant to Section 33334.3(d) of the CRL, it is the intent of the
California State Legislature that the amount of money spent for planning and general
administration from the Housing Fund not be disproportionate to the amount actually
spent for the cost of production, improvement or preservation of low- and moderate -
income housing; and
WHEREAS, pursuant to Section 33334.3(1) of the CRL, agencies that have more
than one project area may satisfy the 20% housing set aside requirement by allocating,
in any fiscal year, less than 20 percent in one project area, if the difference between the
amount allocated and the 20 percent required is instead allocated, in that same fiscal
year, to the Housing Fund from tax increment revenues from other project areas; and
Resolution No. 2010 -006 RDA
Page 2 of 4
WHEREAS, the Agency desires to make certain findings in connection with its
Housing Fund and the accounting required by Section 33334.3 of the CRL.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
SECTION 1. In accordance with to Section 33334.3(a) of the CRL, the Agency
hereby finds, declares and determines that it has established a separate and distinct
Housing Fund to account for twenty percent (20 %) of the tax increment that was
allocated to it for the purpose of increasing, improving and preserving the community's
supply of low and moderate income housing available at affordable housing costs to
persons and families of low and moderate income.
SECTION 2. Pursuant to Section 33334.2(a) of the CRL, the Agency has
annually deposited not less than twenty percent (20 %) of the total tax increment
revenues allocated to it (before deductions for pass- through payments to taxing entities
or other balance transfers) into the Housing Fund and the Agency has expended
monies from the Housing Fund for the purpose of increasing, improving and preserving
the community's supply of low and moderate income housing available at affordable
housing costs to persons and families of low and moderate income.
SECTION 3. The Agency further finds, declares and determines that any interest
earned by the Housing Fund, and any repayments or other income to the Agency for
loans, advances, or grants, of any kind from the Housing Fund, accrued to and was
deposited into the Housing Fund.
SECTION 4. The Agency hereby finds, declares and determines that for Fiscal
Year 2009/2010 the expenditure of Housing Fund monies on planning and general
administrative costs was necessary for the production, improvement, and preservation
of low- and moderate- income housing. The Agency further finds, declares and
determines that the planning and general administrative costs that were paid for by the
Housing Fund included costs incurred for salaries, wages, and related costs of the
Agency's staff or for services provided through agreements with contractors, including
usual direct costs related thereto.
SECTION 5. The Agency hereby finds, declares and determines that the
expenditure of Housing Funds outside of the Project Areas, including the aggregation of
the Housing Fund pursuant to Section 33334.3(1) of the CRL, is a benefit to the Project
Areas and contributes to the community's supply of affordable housing.
SECTION 6. The Agency hereby finds that its commitment of Housing Fund
revenues to the Pottery Court and Lakeview Apartments projects will increase, improve
and preserve the community's supply of affordable housing and that both the beginning
and ending Housing Fund balance for the 2009/10 Fiscal Year demonstrate no excess
surplus within the meaning of Sections 33334.10 and 33334.12 of the CRL.
Resolution No. 2010 -006 RDA
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SECTION 7. The effective date of this Resolution shall be the date of its
adoption.
PASSED, APPROVED AND ADOPTED by the Board of Directors of the
Redevelopment Agency of the City of Lake Elsinore this 1411 ,day of December, 2010.
ROBERT E. MAGEE, C AIRMAN
REDEVELOPMENT NCY OF THE CITY
OF LAKE ELSINOR
ATTEST:
CAROL OWLEY, IN RIM AGE CY SECRETARY
Il . ' 4 4 1-0
:' �' :• PIN •
Resolution No. 2010 -006 RDA
Page 4 of 4
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Carol Cowley, Interim Agency Secretary of the Redevelopment Agency of the City of
Lake Elsinore, California, hereby certify that Resolution No. 2010 -006 RDA was
adopted by the Redevelopment Agency Board of the Redevelopment Agency of the City
of Lake Elsinore at a regular meeting held on the 14th day of December 2010, and that
the same was adopted by the following vote:
AYES: BOARD MEMBERS:
CHAIRMAN MAGEE
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
BHUTTA, HICKMAN, MELENDEZ, TISDALE AND
CAROL cowl -EY, INTERIM AGgWCY SECRETARY,
REDEVELOPMENT AGENCY OP THE
CITY OF LAKE ELSINORE