HomeMy WebLinkAboutRDA Reso No 2011-011RESOLUTION NO. 2011 -011 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. II, 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. 2011 -011 RDA
Page 3 of 4
-- that affordability covenants were recorded in accordance with applicable CRL
requirements, including annual certification and reporting obligations.
SECTION 7. The Agency hereby finds, declares and determines that Housing
Funds were expended for on- or off -site improvements only as an integral part of the
Pottery Court and Lakeview Apartments projects that will provide approximately 261
affordable units and that no other Housing Funds were expended for on- or off -site
improvements.
SECTION 7. The Agency hereby finds, declares and determines that both the
beginning and ending Housing Fund balance for the 2010111 Fiscal Year demonstrate
no excess surplus within the meaning of Sections 33334.10 and 33334.12 of the CRL.
SECTION 9. 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 13th day of December, 2011.
Melis a Melendez, Chairwoman
Redevelopment Agency of the City
of Lake Elsinore
r
APP VED AS TO ORM:
A'At
Ba ara Leibold, Agency Counsel
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Virginia J. Bloom, City Clerk of the City of Lake Elsinore, California, and
Agency Secretary of the Redevelopment Agency hereby certify that Resolution No.
2011 -011 RDA was adopted by the Redevelopment Agency Board of the City of Lake
Elsinore, California, at a regular meeting held on the 13th day of December 2011, and
that the same was adopted by the following vote:
AYES: Agency Vice -Chair Tisdale, Agency Member Magee, Agency
Member Hickman, Agency Member Weber and Chairwoman
Melendez
NOES: None
ABSENT: None
ABSTAIN: None / — _ 4
Virgino V. Bloq�rf
Agen ecre ry
Redevelopment Agency _ -
City of Lake Elsinore