HomeMy WebLinkAbout22589 - RESOLUTIONS - 9/2/2009 RESOLUTION NO. 22589
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, MAKING CERTAIN
FINDINGS WITH RESPECT TO THE 2009-10 DEPOSIT TO
THE LOW AND MODERATE INCOME HOUSING FUND
WHEREAS, the Community Redevelopment Agency of the City of Palm Springs (the
"Agency") has two project areas, namely, Merged Project Area No. 1 and Merged
Project Area No. 2, and the Redevelopment Plans for Merged Project Area No. 1 and
No. 2 recognize that the provision of low and moderate income housing outside of the
merged project areas will be of benefit to the merged,
WHEREAS, Section 33334.3(i) of the Health and Safety Code of the State of California
(the "Law") provides that redevelopment agencies with more than one project area may
satisfy the requirements of Sections 33334.2 and 33334.6 of the Law 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 Low and Moderate Income Housing Fund from tax increment revenues
from other project areas.-
WHEREAS, for the fiscal year 2009-10, the Agency desires to satisfy the requirement
to deposit 20 percent of tax increment funds from Merged Project Area No. 2 to the Low
and Moderate Income Housing Fund by depositing the required amount from tax
increment revenues from Merged Project Area No. 1;
WHEREAS, prior to allocating additional funds from Merged Project Area No. 1 to the
Low and Moderate Income Housing Fund to satisfy the requirement to deposit such
amount from Merged Project Area No. 2 tax increment revenues, the Agency shall
make the finding that the use of the additional funds deposited will be of benefit to
Merged Project Area No. 1;
WHEREAS, the Agency's Five-Year Implementation Plan described a need to create
458 affordable housing units between 2004-05 and 2013-14, including 142 very-low
income units;
WHEREAS, the Agency has assisted the Vista Sunrise Special Needs Apartments and
Coyote Run II Apartments, resulting in the creation of 146 affordable to low and very
low income units,
WHEREAS, additional affordable housing projects that have been proposed and will
require Agency assistance are the Garden Springs Apartments and Las Vegas Road
Apartments, both located in Merged Project Area No. 1, and Tahquitz Court Housing
and Sahara Mobile Home Park Improvements, both located outside either Merged
Project Area No. 1 or Merged Project Area No. 2;
Resolution No. 22589
Page 2
WHEREAS, together, these four projects, which are proposed to be funded in part with
an Agency subsidy from the Low and Moderate Income Housing Fund, will result in the
creation or preservation of 350 affordable units, and
WHEREAS, the creation or preservation of any of the 350 affordable units outside
Merged Project Area No. 1 will be of benefit to Merged Project Area No. 1 and the
community, and that tax increment revenue deposited in the Low and Moderate Income
Housing Fund from Merged Project Area No. 1, which may be spent outside the
boundaries of Merged Project Area No. 1, is of benefit to the Merged Project Area No.
I.-
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Palm
Springs, California as follows:
Section 1. Deposit. The City Council concurs and supports the Agency's decision to
not make a deposit of tax increment revenue to the Low and Moderate Income Housing
Fund for Fiscal Year 2009-10, Merged Project Area No. 2, and that such amounts will
be allocated to and deposited from Merged Project Area No. 1 tax increment revenue.
Section 2. Effective Date. This resolution shall take effect from and after the date of
approval and adoption thereof.
PASSED AND ADOPTED THIS 2nd DAY OF SEPTEMBER, 2009.
DAVID H. REA
City Manager
ATTEST:
?JMF-S THOMPSON, City Clerk
Resolution No. 22589
Page 3
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 22589 is a full, true and correct copy, and was duly adopted at a regular
meeting of the City Council of the City of Palm Springs on the 2nd day of September,
2009, by the following vote:
AYES: Councilmember Foat, Councilmember Hutcheson, Councilmember
Weigel, Mayor Pro Tern Mills, Mayor Pougnet.
NOES: None.
ABSENT: None.
ABSTAIN: None.
ames Thompson, City Clerk p�lE$�2oe�
City of Palm Springs, California r 9