HomeMy WebLinkAbout1987-20 CRA
"-
, . "..
.
.
.
.
.
REL:adg-24
7/29/86
Rev. 9/23/87(mb)
RESOLUTION NO. 87-20
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 FOR FISCAL
YEAR 1987-88,
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 ("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 Hous i ng 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, th lieu of providing such deposit
into the "Low and Moderate Income Housing Fund" from its tax
increment revenues from the "Central City" 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 addítion to the "Central City"
redevelopment project area, and the Agency has, in 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 1987-1988;
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. 87-
PAGE TWO
(a) The Agency is making a substantial effort
to meet the low and moderate income housing needs in the City
of Santa Ana in fiscal year 1987-88. As part of this effort,
the Agency is allocating 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, the "Santa Ana South Harbor
Boulevard" project area and the "Santa Ana South Main Street"
project area (hereinafter referred to collectively as the
"other project areas").
(b)
In fiscal year 1987-88:
(1) Tax increment revenues from the "Central
City" project area are projected to be $4,842,000.00.
Twenty percent of said tax increment revenue total is
$968,400.00.
(2) Total tax increment revenues from the
other project areas are projected to be $11,972,345.00.
The proportion of said tax increment revenues which is
legally required to be allocated to the "Low and Moderate
Income Housing Fund" (20%) is $2,394,469.00. The amount of
said revenues which will actually be allocated to the
"Low and Moderate Income Housing Fund" is projected to
be $4,337,805,00, an excess of $1,943,336,00 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
"Central City" 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 "Central City" project area
is more than equivalent in 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
.
.
.
.
.
RESOLUTION NO, 87- 20
PAGE THREE
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 17th
by the following vote:
AYES:
NOES:
ABSENT:
day of
November
, 1987,
ATTEST:
cYn~~~utive
Director/Recording Secretary
AGENCY MEMBERS:Acosta, Griset, Hart, May
McGuigan, Pulido, Young
AGENCY MEMBERS: None
AGENCY MEMBE RS : None
APPROVED AS TO FORM:
Oboper
Agency Legal Counsel