HomeMy WebLinkAbout2009-008 CRARESOLUTION 2009-008
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A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF SANTA ANA APPROVING THE OPERATION OF A
MORTGAGE CREDIT CERTIFICATE PROGRAM BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA OUTSIDE
THE MERGED PROJECT AREA OF THE AGENCY, BUT WITHIN
CITY BOUNDARIES
BE IT RESOLVED BY THE MEMBERS OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS:
Section 1. The Community Redevelopment Agency of the City of Santa Ana
finds, determines and declares as follows:
A. The Community Redevelopment Agency of the City of Santa Ana (the "Agency")
and the City of Santa Ana ("City") have determined the importance of
participation in a Mortgage Credit Certificate Program (the "Program") for the
benefit of first-time homebuyers to be administered by the County of Orange (the
"County") pursuant to the provisions of Part 5 of Division 31 of the Health and
Safety Code of the state of California (the "Act") and the Internal Revenue Code
of 1986 (the "Code").
B. The Program will be operated both within the merged project area of the Agency
and outside such area, but within the boundaries of the City of Santa Ana.
C. The Agency and the County will enter into a Cooperative Agreement
("Agreement") for the County to administer the Program. Under the terms of the
Agreement, the Agency will be required to pay a proportionate share of the
administrative costs of the Program.
D. The Agency finds and declares that such expenditures will be of benefit to the
entire merged project area, and to all residents of the City. This finding is made
pursuant to Health & Safety Code § 33334.2(g)(1).
E. The County of Orange will apply for an allocation from the California Debt Limit
Allocation Committee ("CDLAC") for authority to issue mortgage credit
certificates, which allocation, when and if received, will be made available to the
Agency and other participating cities.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS:
Section 2. The Community Redevelopment Agency finds that each of the
foregoing recitals is true and correct.
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Section 3. The Community Redevelopment Agency hereby approves the filing of
an application with CDLAC on its behalf for an allocation of authority to issue mortgage
credit certificates by the County of Orange, for the operation of the Program by the
Agency.
Section 4. The Community Redevelopment Agency hereby finds and determines
that the merged project area of the Agency will benefit by the operation of the Program
both within and outside the merged project area, but within the boundaries of the City.
Section 5. This Resolution shall take effect immediately upon its adoption by the
Community Redevelopment Agency, and the Recording Secretary shall certify the vote
adopting this Resolution.
ADOPTED this 1 Sc day of June, 2009.
APPROVED AS TO FORM:
Joseph W. Fletcher, General Counsel
By:,~ ~ ~. ,~k-2---
Lisa E. Storck
Assistant Counsel
AYES: Boardmembers: Alvarez, Benavides, Bustamante, Martinez,
Sarmiento Tinalero, Pulido (7)
NOES: Boardmembers: None (0)
ABSTAIN: Boardmembers: None (0)
NOT PRESENT: Boardmembers: None (0)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, PATRICIA E. HEALY, Recording Secretary fo
Agency, do hereby attest to and certify the attached
original resolution adopted by the Community Red
Santa Ana on June 1, 2009. I
Date: ~ b, ~U1 ~"~~
Recording Secret~/
Community RedeJe
r the Community Redevelopment
Resolution No. 2009-008 to be the
evelopment Agency of the City of
ment Agency
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