R-8767
RESOLUTION NO. 8767 (CCS)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA FINDING THAT THE USE OF TAXES
ALLOCATED FROM THE SANTA MONICA EARTHQUAKE
RECOVERY REDEVELOPMENT PROJECT AREA FOR THE
PURPOSE OF IMPROVING, INCREASING AND PRESERVING
THE COMMUNITY'S SUPPLY OF LOW AND MODERATE
INCOME HOUSING OUTSIDE THE PROJECT AREA WILL BE
OF BENEFIT TO THE PROJECT
WHEREAS, the Redevelopment Agency of the City of Santa Monica (the "Agency")
has prepared a proposed Redevelopment Plan for the Santa Monica Earthquake
Recovery Redevelopment Project which would result in the allocation of taxes from the
Project Area to the Agency for the purposes of redevelopment; and
WHEREAS, Section 33334.2(a) of the California Community Redevelopment Law
(Health and Safety Code Sections 33000 et seq.) requires that not less than 20 percent
of all taxes so allocated be used by the Agency for the purposes of improving, increasing
and preserving the community's supply of low and moderate income housing available
at affordable housing cost, unless certain findings are made; and
WHEREAS, Section 33334.2(g) of the Community Redevelopment Law provides
that the Agency may use such funds outside the Project Area if a finding is made by
resolution of the Agency and the City Council that such use will be of benefit to the
Project.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES HEREBY RESOLVE AS FOllOWS:
SECTION 1. The City Council hereby finds that the use of taxes allocated from
the Santa Monica Earthquake Recovery Redevelopment Project Area for the purposes
authorized in the California Community Redevelopment Law and related to improving,
increasing and preserving the community's supply of low and moderate income housing
available at affordable costs outside the Project Area within the City of Santa Monica will
be of benefit to the Project.
SECTION 2. The City Clerk shall certify to the adoption of this Resolution and
thereupon and thereafter the same shall be in full force and effect.
APPROVED AS TO FORM:
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MARSHA JONES MOUTRIE
City Attorney
Adopted and approved this 21st of June, 1994.
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I hereby certify that the foregoing Resolution 8767 (CCS) was duly adopted at a
meeting of the City Council held on the 21st of June, 1994 by the following vote:
Ayes: Councilmembers: Abdo, Genser, Greenberg, Holbrook, Olsen, Rosenstein
Noes: Councilmembers: None
Abstain: Councilmembers: None
Absent: Councilmembers: Vazquez
ATTEST:
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