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Home My WebLink About1986-49 CRA . . . . . . REL:adg-24 7/29/86 RESOLUTION NO. 86-49 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA MAKING CERTAIN FINDINGS PURSUANT TO SECTION 33334.2 OF THE COMMUNITY REDEVELOPMENT LAW 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 Califor- nia (Assembly Bill No. 265); and WHEREAS, said section 33334.6 has the effect of re- quiring, subject to certain exceptions, that the Community Re- development Agency of the City of Santa Ana (the "Agency") deposit at least 20 percent of the tax increment revenues from its original ("Downtown") 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 "Downtown" project area, provide an equivalent deposit of funds derived from other sources; and WHEREAS, the City of Santa Ana has created four re- development project areas in addition to the "Downtown" re- development 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 "Down- town Project Area" both for fiscal year 1985-1986 and 1986-1987; 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 Com- munity Redevelopment Agency of the City of Santa Ana hereby finds and determines as follows: . . . . . . RESOLUTION NO. 86- 49 PAGE TWO (a) The Agency has made in fiscal year 1985-86 and is continuing to make in fiscal year 1986-87, a substantial effort to meet the low and moderate income housing needs in the City of Santa Ana. As part of this effort, the Agency allocates to its "Low and Moderate Income Housing Fund" more than the legally required proportion (20%) of the tax increment revenues derived from three of its 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"). (b) In fiscal year 1985-86: (1) Tax increment revenues from the "Downtown" project area were $3,739,969.00. Twenty percent of said tax increment revenue total is $747,993.80. (2) Total tax increment revenues from the other project areas were $3,963,678.00. The proportion of said tax increment revenues which is legally required to be allocated to the "Low and Moderate Income Housing Fund" (20%) is $792,735.60. The amount of said tax increment revenues actually allocated to the "Low and Moderate Income Housing Fund" was $1,985,519.00, an excess of $1,192,783.40 over the legally required proportion (the "excess allocation"). (3) The excess allocation of tax increment revenues from the other project areas is greater than 20 percent of the tax increment revenues of the "Down- town" project area. Therefore, the effort of the Agency 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 "Downtown" project area is more than equivalent in impact to the funds that would otherwise be required to be allocated from the "Down- town" project area tax increment revenues. (c) In fiscal year 1986-87: (1) Tax increment revenues from the "Down- town" project area are projected to be $4,314,389.00. Twenty percent of said tax increment revenue total is $862,877.00. . . . . . . RESOLUTION NO. 86- 49 PAGE THREE (2) Total tax increment revenues from the other project areas are projected to be $4,435,618.00. The proportion of said tax increment revenues which is legally required to be allocated to the "Low and Moderate Income Housing Fund" (20%) is $887,123.60. The amount of said revenues which will actually be allocated to the "Low and Moderate Income Housing Fund" is projected to be $2,251,373.00, an excess of $1,364,249.40 over the legally required proportion (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 "Downtown" project area. Therefore, the effort of the Agency 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 "Downtown" project area is more than equivalent in impact to the funds that would otherwise be required to be allocated from the "Downtown" 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: 19th August ,1986, day of AYES: MEMBE RS : Acosta, Griset, Hart, Johnson Luxembourger, McGuigan, and Young None None NOES: MEMBERS: ABSENT: MEMBE RS : ~ Daniel E. Griset Chairman Rex S nson, Executive Director/Recording Secretary . . . . . , -. REL:adg-24 7/29/86 RESOLUTION NO. 86-49 . A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA MAKING CERTAIN FINDINGS PURSUANT TO SECTION 33334.2 OF THE COMMUNITY REDEVELOPMENT LAW WHEREAS, section 33334.6 was added to the Community Redevelopment Law (Health and Safety Code Sections 33000 ~~) by Chapter 1135 of the Statutes of 1985 of the State of Califor- nia (Assembly Bill No. 265); and WHEREAS, said section 33334.6 has the effect of re- quiring, subject to certain exceptions, that the Community Re- development Agency of the City of Santa Ana (the "Agency") deposit at least 20 percent of the tax increment revenues from its original ("Downtown") 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 Fund1" 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 "Downtown" project area, provide an equivalent deposit of funds derived from other sources; and WHEREAS, the City of Santa Ana has created four re- development project areas in addition to the "Downtown" re- development 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 "Down- town Project Area" both for fiscal year 1985-1986 and 1986-1987; 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 Com- munity Redevelopment Agency of the City of Santa Ana hereby finds and determines as follows: . . . . , RESOLUTION NO. 86-49 PAGE TWO (a) The Agency has made in fiscal year 1985-86 and is continuing to make in fiscal year 1986-87, a substantial effort to meet the low and moderate income housing needs in the City of Santa Ana. As part of this effort, the Agency allocates to its "Low and Moderate Income Housing Fund" more than the legally required proportion (20%) of the tax increment revenues derived from three of its 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"). (b) In fiscal year 1985-86: (1) Tax increment revenues from the "Downtown" project area were $3,739,969.00. Twenty percent of said tax increment revenue total is $747,993.80. (2) Total tax increment revenues from the other project areas were $3,963,678.00. The proportion of said tax increment revenues which is legally required to be allocated to the "Low and Moderate Income Housing Fund" (20%) is $792,735.60. The amount of said tax increment revenues actually allocated to the "Low and Moderate Income Housing Fund" was $1,985,519.00, an excess of $1,192,783.40 over the legally required proportion (the "excess allocation"). (3) The excess allocation of tax increment revenues from the other project areas is greater than 20 percent of the tax increment revenues of the "Down- town" project area. Therefore, the effort of the Agency to meet the low and moderate income housing needs of the City of Santa Ana from revenue sources other than tax increment revenue fran the "Downtown" project area is more than equivalent in impact to the funds that would otherwise be required to be allocated from the "Down- town" project area tax increment revenues. (c) In fiscal year 1986-87: (1) Tax increment revenues from the "Down- town" project area are projected to be $4,314,389.00. Twenty percent of said tax increment revenue total is $862,877.00. . . . . . RESOLUTION NO. 86-49 PAGE THREE (2) Total tax increment revenues from the other project areas are projected to be $4,435,618.00. The proportion of said tax increment revenues which is legally required to be allocated to the "Low and Moderate Income Housing Fund" (20%) is $887,123.60. The amount of said revenues which will actually be allocated to the "Low and Moderate Income Housing Fund" is projected to be $2,251,373.00, an excess of $1,364,249.40 over the legally required proportion (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 "Downtown" project area. Therefore, the effort of the Agency 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 "Downtown" project area is more than equivalent in impact to the funds that would otherwise be required to be allocated from the "Downtown" 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: 19th day of ,1986, Auqust AYES: MEMBERS: Acosta, Griset, Hart, Johnson, Luxembourger, McGuigan & MEMBERS: None NOES: ABSENT: MEMBE RS: None ~ M~ Rex Swanson, Executive Director/Recording secretary Daniel E. Griset Chairman