SR-407-009
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· (!e/NA-i2
Ljo 1-- 000/ JUl 25 1989
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C/ED:JISG:JG:wp
Redevelopment Agency Meeting: 7/25/89
City Council Meeting
santa Monica, California
TO:
Chairperson and Redevelopment Agency
Mayor and City Council
SUBJECT:
City staff
Recommendations to (I) Adopt Resolutions Allocating
Funds to the Downtown and Ocean Park 1 (a) and 1 (b)
Redevelopment Project Low and Moderate Income Housing
Trust Fund, (2) Approve Earnest Money Agreements with
Community Corporation of Santa Monica for the
City-wide Housing Acquisition and Rehabilitation
Program. (CHARP) and the Pico Neighborhood Housing
Trust Fund (PNHTF), (3) Approve an Agreement with the
Pico Neighborhood Association for the Operation of
PNHTF, and (4) Approve Revisions to the Program
Guidelines for CHARP and PNHTF.
FROM:
INTRODUCTION
This report transmits for adoption resolutions allocating funds
to the Downtown and Ocean Park lea) and l(b) Redevelopment
project Low and Moderate Income Housing Trust Fund for use in the
City-wide Housing Acquisition and Rehabilitation Program as
approved in the Fiscal Year 1989-90 Budget.
The report
recommends approval of standard Agreements with Community
Corporation of Santa Monica for the use of CHARP and PNHTF
"earnest money" funds, and a standard Agreement with the Pico
Neighborhood Association (PNA) for PNHTF program operation. The
report also recommends that revisions be made to the Program
Guidelines for both the City-wide Housing Acquisition and
Rehabilitation Program (CHARP) and the pico Neighborhood Housing
Trust Fund (PNHTF) to ensure the efficient operation of the
programs.
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JUL 2 5 1989
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BACKGROUND
The City-wide Housing Acquisition and Rehabilitation Program
(CHARP) and Pico Neighborhood Housing Trust Fund (PNHTF) were
created in 1983 to preserve and expand the stock of affordable
housing in Santa Monica for low and moderate income households.
Since Fiscal Year 1983-84, a total of one hundred fourteen (114)
uni ts have been assisted with CHARP funds, and a total of one
hundred thirty two (132) units have been assisted with PNHTF
funds. The Redevelopment Agency and Ci ty Council have
appropriated $525,412 for CHARP and $510,624 for PNHTF in the
approved Fiscal Year 1989-90 Budget.
In order to utilize redevelopment tax-increment funds for
affordable housing development, resolutions finding such
development to be of benefit to the redevelopment projects must
be adopted by the Agency and the Ci ty Council at the start of
each fiscal year. It is also necessary at this time to execute
an Agreement with Community Corporation of Santa Monica (CCSM)
for the use of $75,000 from CHARP as earnest money deposits.
No resolutions of benefit are necessary for the PNHTF Program, as
it is funded with federal Community Development Block Grant
(CDBG) and Rental Rehabilitation Program funds. However, at the
start of each fiscal year it is necessary to execute (1) an
Agreement with CCSM for the use of $25,000 from PNHTF as earnest
money deposits, and (2) an Agreement with the Pico Neighborhood
Association (PNA) defining its role in the PNHTF Program's
operation.
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The Agency and City first adopted Program Guidelines for the
CHARP and PNHTF Programs in 1983, and have revised them
periodically since then to both account for changing market
condi tions and to ensure the efficient implementation of the
programs and the City's housing policies. Further revision of
the Guidel ines is necessary at this time to ensure continued
participation in the programs by non-profit housing developers,
and to comply with new federal regulations relating to lead-based
paint hazard abatement and disabled accessibility.
DISCUSSION
Resolutions of Benefit
California redevelopment law allows local Redevelopment Agencies
to use tax-increment funds outside of the redevelopment project
area which generated them if the expenditure of such funds will
be of benefit to the project. Under the provisions of this law,
increasing and improving the supply of affordable housing for low
and moderate income households outside the project area is
considered to be of benefit to the redevelopment projects. state
law requires that the Redevelopment Agency adopt resolutions each
year formally determining that the use of tax-increment funds in
this manner will benefit the redevelopment projects. In
addition, the City council must concur in this determination.
Therefore, in order to utilize the new redevelopment
tax-increment funds appropriated to CHARP in the FY89-90 budget,
the attached resolutions must be adopted by the Redevelopment
Agency and City council.
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California redevelopment law also requires that 20% of all
tax-increment funds received by the Agency annually be used to
assist low and moderate income housing activities. This
allocation to the CHARP Program, in addition to the Agency IS
lease payment for the public housing development at 175 Ocean
Park Boulevard and other approve housing-related expenditures for
FY89-90, will satisfy the "20% set-Aside" requirement for this
fiscal year.
Agreement for CHARP "Earnest Moneyn Funds
In addition to adopting resolutions of benefit for the CHARP
Program, it is necessary at this time to approve and execute an
Agreement with Community Corporation of Santa Monica (CCSM) for
the use of the $75,000 "Earnest Money" component of CHARP. These
funds are to be used (1) for deposits on properties to be
purchased for affordable housing projects, and (2) as a revolving
fund for reimbursable development expenses which cannot be
obtained on a contingency basis.
The proposed "Earnest Money" Agreement is in the standard grantee
contract form used in the Community Development Program. It is
the same Agreement used in previous years, and it includes all
appropriate provisions of State law applicable to redevelopment
agency activities, as well as the usual City requirements
relating to accounting procedures, political activities, and
equal employment opportunity.
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Agreement for PNHTF tlEarnest Money" Funds
Similar to the CHARP Program, it is necessary at this time to
approve and execute an Agreement with CCSM for the use of the
$25,000 "Earnest Honey" component of PNHTF. These funds are to
be used only for deposi ts on properties to be purchased for
affordable housing projects.
The proposed "Earnest Money" Agreement for PNHTF, like the
Agreement proposed for CHARP, is in the standard grantee contract
form used in the Community Development Program. It is the same
Agreement used in previous years, and it includes all appropriate
provisions of Federal law applicable to the use of CDBG funds, as
well as the usual city requirements relating to accounting
procedures, political activities, and equal employment
opportunity.
Agreement with Pico Neighborhood Association
Along with the Agreement for PNHTF Earnest Money funds, it is
necessary at the beginning of each fiscal year to execute an
Agreement with the Pico Neighborhood Association (PNA) detailing
PNA's role in the operation of the PNHTF Program. The proposed
Agreement is the same as that used in previous years. PNAts role
in the operation of the PNHTF Program includes reviewing each
loan application submitted, meeting with city staff on a regular
basis, and annually assessing the housing needs of the pico
Neighborhood. Both the Agreement for Program operation and the
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PNHTF Earnest Money Agreement were reviewed by the PNA Board on
July 13, 1989.
Revision of CHARP and PNHTF Program Guidelines
Both the CHARP and PNHTF Programs provide thirty-five (35) year
deferred payment loans to eligible borrowers for the acquisition,
rehabilitation, and/or new construction of affordable housing
uni ts for low and moderate income households in Santa Monica.
PNHTF funds may only be used within the Pico Neighborhood of
Santa Monica. A Regulatory Agreement restricting the rent
levels, occupancy, management, and disposition of each assisted
property is recorded to secure each Program loan.
The proposed revisions to the Guidelines would increase the
development fees allowed project sponsors from one and one-half
percent (1. 5%) to three percent (3 %) of the total development
cost of the assisted project, and increase the maximum per unit
loan amount under the PNHTF Program from $35,000 to $40,000.
These revisions would not affect any of the proj ect review and
approval processes currently in place, and the Program Guidelines
would remain unchanged in all other respects.
1. Increase in Allowable Development Fee
Increasing the development fee allowed by the Programs is
necessary at this time to (1) more adequately reimburse project
sponsors for the costs involved in developing affordable housing
projects, and (2) make the Programs comparable to similar
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affordable housing programs in California and throughout the
nation.
The costs involved in initiating and carrying-out affordable
housing developments have increased dramatically in recent years
as projects have become more complex, often including multiple
public and private funding sources and the syndication of low
income housing tax credits. The actual cost of sponsoring an
affordable housing project is currently between 10% and 15% of
the total development cost of a proj ect. While the proposed
three percent (3%) development fee would still not actually cover
the cost of packaging and developing a project, it would come
significantly closer to doing so.
In recognition of the substantial costs involved in packaging and
developing affordable housing projects, other public agencies
allow much higher development fees to the sponsors of projects
which they assist. For example, 5-10% development fees are
allowed in the City of Chicago and in Saint Paul, Minnesota, a
4-5% fee ($5,000 per unit) is allowed by the national Local
Initiatives Support Corporation (LISe), and a 4-6% fee is allowed
by the City of San Francisco. These public agencies also provide
operating support to local non-profit corporations, as the city
of Santa Monica does, but allow higher development fees to both
(1) more adequately cover the cost of developing affordable
units, and (2) provide an incentive to local non-profit
developers to develop as many affordable units as possible.
Staff is proposing that the development fees allowed by both the
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CHARP and PNHTF Programs be increased to three percent (3%) for
these reasons.
2. Increase in PNHTF Maximum Per unit Loan Amount
Increasing the maximum per unit loan amount under the PNHTF
Program is necessary at this time to compensate for increased
project costs resulting from new federal regulations relating to
(1) lead-based paint hazard abatement, and (2) accessibility for
disabled households.
The u.s. Department of Housing and Urban Development (HUD) has
recently adopted extensive regulations regarding the inspection,
testing, and abatement of lead-based paint hazards in housing
rehabilitation projects assisted with federal CDBG funds. These
regulations have significantly increased the cost of acquisition
and rehabilitation projects assisted by the PNHTF Program, as
extensive inspection and abatement procedures are now required to
mitigate the hazardous effects of lead-based paint used in
buildings constructed prior to 1978. For example, the cost of a
thirty-two (32) unit acquisition and rehabilitation project
currently being carried-out by CCSM at 2020 Cloverfield Boulevard
has been increased by approximately $80,000 by these regulations,
or $2,500 per unit.
In addition, recent revisions to section 504 of of the federal
Rehabilitation Act of 1973 have increased the number of
accessibility modifications required in rehabilitation projects
assisted by the PNHTF program. Staff estimates that these new
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$3,000 per unit.
requirements will increase project costs between $2,000 and
The PNHTF Program Guidelines specify a maximum project loan
amount of $35,000 per unit. In order for non-profit development
corporations to comply with the regulations described above in
their development of affordable housing units in the Pico
neighborhood, staff is recommending that the maximum per unit
loan amount be increased to $40,000 at this time.
FINANCIAL/BUDGETARY IMPACTS
The Fiscal Year 1989-90 budget includes an appropriation of
$525,412 for the city-wide Housing Acquisition and Rehabilitation
Program.
This appropriation is reflected in the following
accounts:
Funds Requiring Resolutions of Benefit
16-720-264-000-942
18-720-264-128-942
18-720-264-129-942
Downtown Fund
Ocean Park l(a) Fund
Ocean Park l(b) Fund
Subtotal
Funds Not Requiring Resolutions of Benefit
16-720-264-731-942
16-720-264-000-942
16-720-264-128-942
16-720-264-129-942
vitale Gilpin Fund
Earnest Fund Repayment
Earnest Fund Repayment
Earnest Fund Repayment
Subtotal
TOTAL
$98,866
$164,400
$60,806
$324,072
$126,340
$37,500
$27,375
$10,125
$201,340
$525,412
The approval of the CHARP Earnest Money Agreement with CCSM will
result in the expenditure of $75,000 from the following accounts:
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TOTAL
$37,500
$27,375
$10,125
$75,000
16-720-264-000-942
18-720-264-128-942
18-720-264-129-942
The Fiscal Year 1989-90 budget includes an appropriation of
$510,624 for the Pico Neighborhood Housing Trust Fund.
appropriation is reflected in the following accounts:
This
TOTAL
$364,624
$146,000
$510,624
19-720-264-000-930
19-720-264-134-930
CDBG
Rental Rehab
The approval of the PNHTF Earnest Money Agreement with CCSM will
result in the expenditure of $25,000 from account number
19-720-264-000-930. No further financial or budgetary impacts
are anticipated as a result of the actions recommended in this
report.
RECOMMENDATIONS
It is recommended that the Redevelopment Agency:
(1) Adopt the attached Resolution of the Redevelopment
Agency of the city of Santa Monica allocating $98,866
into the Downtown Redevelopment Project Low and
Moderate Income Housing Trust Fund to provide funds
for CHARP, and finding the provision of affordable
housing
to be
of
benefit
to
the
Downtown
Redevelopment Project.
(2) Adopt the attached Resolution of the Redevelopment
Agency of the City of Santa Monica allocating
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$164,400 into the Ocean Park Redevelopment Project
1 (a) Low and Moderate Income Housing Trust Fund to
provide funds for CHARP, and finding the provision of
affordable housing to be of benefit to the Ocean Park
Redevelopment Project lea).
(3) Adopt the attached Resolution of the Redevelopment
Agency of the City of Santa Monica allocating $60,806
into the Ocean Park Redevelopment Project 1 (b) Low
and Moderate Income Housing Trust Fund to provide
funds for CHARP, and finding the provision of
affordable housing to be of benefit to the Ocean Park
Redevelopment Project l(b).
(4) Approve the execution of an Agreement by and between
the Redevelopment Agency of the city of Santa Monica
and Community Corporation of Santa Monica for $75,000
in CHARP Earnest Money funds.
(5) Approve the revision to the Program Guidelines for
the City-wide Housing Acquisition and Rehabilitation
Program as described in this report.
It is recommended that the City Council:
(6) Adopt the attached Resolution of the City Council of
the City of Santa Monica finding the use of funds in
the Downtown Redevelopment Project Low and Moderate
Income Housing Trust Fund to be of benefit to the
Downtown Redevelopment Project.
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(7) Adopt the attached Resolution of the City Council of
the City of Santa Monica finding the use of funds in
the Ocean Park 1 (a) Redevelopment Project Low and
Moderate Income Housing Trust Fund to be of benefit
to the Ocean Park lea) Redevelopment Project.
(8) Adopt the attached Resolution of the City Council of
the city of Santa Monica finding the use of funds in
the Ocean Park 1 (b) Redevelopment Project Low and
Moderate Income Housing Trust Fund to be of benefit
to the Ocean Park l(b) Redevelopment Project.
(9) Approve the execution of an Agreement by and between
the City of Santa Monica and Community Corporation of
Santa Monica for $25,000 in PNHTF Earnest Money
funds.
(10) Approve the execution of an Agreement by and between
the City of Santa Monica and the pico Neighborhood
Association for the implementation of the Pico
Neighborhood Housing Trust Fund.
(11) Approve the revisions to the Program Guidelines for
the Pico Neighborhood Housing Trust Fund as described
in this report.
Prepared by: Jack Gardner, Senior Development Analyst
Candy Rupp, Housing Program Manager
Department of Community and Economic Development
:benefit
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(RAS)
RESOLUTION NUMBER
(Redevelopment Agency series)
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SANTA MONICA ALLOCATING $98,866 INTO THE DOWN-
TOWN REDEVELOPMENT PROJECT LOW AND MODERATE INCOME
HOUSING TRUST FUND TO PROVIDE FINANCING FOR THE CITY
WIDE HOUSING ACQUISITION AND REHABILITATION PROGRAM
AND FINDING THE PROVISION OF SUCH HOUSING TO BE OF
BENEFIT TO THE DOWNTOWN REDEVELOPMENT PROJECT.
WHEREAS, the Redevelopment Agency has adopted Resolution
Number 378 (RAS) establishing the Downtown Redevelopment Project
Low and Moderate Income Housing Trust Fund (the "Housing Trust
Fund"); and
WHEREAS, in accordance with Resolution Number 378 (RAS),
the Redevelopment Agency desires to allocate money to the Hous-
ing Trust Fund,
NOW THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
SANTA MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1.
Pursuant to Resolution Number 378 (RAS), the
Redevelopment Agency does hereby allocate the sum of $98,866
into the Housing Trust Fund to be paid into the Housing Trust
Fund from property taxes allocated to the Redevelopment Agency
pursuant to Health and Safety Code Section 33670 and the
Redevelopment Plan for the Downtown Redevelopment Project.
SECTION 2.
The funds so allocated shall be held in the
Housing Trust Fund until expended by the Agency for the purposes
set forth in Resolution Number 378 (RAS).
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SECTION 3. The Redevelopment Agency hereby elects to make
the requirements of Health and Safety Code section 33334.2 ap-
plicable to the Downtown Redevelopment proj ect to the extent
provided for in Sections 4 and 5 of this Resolution.
SECTION 4. The payment of funds into the Housing Trust
Fund as required by the Resolution pursuant to said Health and
Safety Code Section 33334.2 shall constitute an obligation and
indebtedness of the Redevelopment Agency for the Downtown Re-
development Project.
SECTION 5. Pursuant to Resolution Number 378 (RAS), the
Redevelopment Agency hereby finds, determines and resolves that
the use of Housing Trust Funds outside of the Downtown Re-
development Project is of benefit to the Downtown Redevelopment
Project.
SECTION 6. The Controller of the Redevelopment Agency is
hereby authorized to retain or pay all interest income earned on
this allocation into the Housing Trust Fund. The controller of
the Redevelopment Agency is further authorized to pay all other
income or loan repayments or revenues received by the
Redevelopment Agency arising from the expenditure of the funds
allocated by this Resolution into the Housing Trust Fund and to
use those funds to the extent available to supplement Downtown
Redevelopment Project Funds needed to fund the allocation
described in section 1.
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SECTION 7 .
The Agency secretary shall certify to the
adoption of this Resolution, and thenceforth and thereafter the
same shall be in full force and effect.
Approved as to Form:
ROBERT M. MYERS
Agency Counsel
:radown
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RESOLUTION NUMBER
(RAS)
(Redevelop~ent Agency Series)
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SANTA MONICA ALLOCATING $164,400 INTO THE
OCEAN PARK REDEVELOPMENT PROJECT 1 (a) LOW AND MODERATE
INCOME HOUSING TRUST FUND TO PROVIDE FINANCING FOR THE
CITY WIDE HOUSING ACQUISITION AND REHABILITATION
PROGRAM AND FINDING THE PROVISION OF SUCH HOUSING TO
BE OF BENEFIT TO THE OCEAN PARK REDEVELOPMENT PROJECT
lea) .
WHEREAS, the Redevelopment Agency has adopted Resol ution
Number 389 (RAS) establishing the Ocean Park Redevelopment lea)
Low and Moderate Income Housing Trust Fund (the "Housing Trust
Fund"); and
WHEREAS, the Redevelopment Agency has adopted Resol ution
Number 380 (RAS) making part of the requirements of Health and
Safety
Code
Section
33334.2
concerning
tax
increment
expenditures for low and moderate income housing applicable to
the Ocean Park Redevelopment Project lea); and
WHEREAS, in accordance with Resolution Number 380 (RAS),
the Redevelopment Agency desires to allocate money to the city-
wide Housing Trust Fund to provide housing at affordable cost
for persons and families of low and moderate income.
NOW THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
SANTA MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1. Pursuant to Resolution Number 380 (RAS), the
Redevelopment Agency does hereby allocate the sum of $164,400
into the Housing Trust Fund to be paid into the Housing Trust
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Fund from property taxes allocated to the Redevelopment Agency
pursuant to Health and Safety Code Section 33670 and the
Redevelopment Plan for the Ocean Park Redevelopment Project
1 (a) .
SECTION 2. The funds so allocated shall be held in the
Housing Trust Fund until expended by the Agency for the purposes
set forth in Resolution Numher 380 (RAS).
SECTION 3. The Redevelopment Agency hereby elects to make
the requirements of Health and Safety Code Section 33334. 2 ap-
plicable to the Ocean Park Redevelopment project 1 (a) to the
extent provided for in Sections 4 and 5 of this Resolution.
SECTION 4. The payment of funds into the Housing Trust
Fund as required by the Resolution pursuant to said Health and
Safety Code Section 33334.2 shall constitute an obligation and
indebtedness of the Redevelopment Agency for the Ocean Park Re-
development Project l(a).
SECTION 5. Pursuant to Resolution Number 380 (RAS), the
Redevelopment Agency hereby finds, determines and resolves that
the use of Housing Trust Funds outside of the Ocean Park
Redevelopment Project lea) is of benefit to the Ocean Park
Redevelopment project l(a).
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SECTION 6. The Controller of the Redevelopment Agency is
hereby authorized to retain or pay all interest income earned on
this allocation into the Housing Trust Fund. The Controller of
the Redevelopment Agency is further authorized to pay all other
income or loan repayments or revenues received by the
Redevelopment Agency arising from the expenditure of the funds
allocated by this Resolution into the Housing Trust Fund and to
use those funds to the extent available to supplement Ocean Park
Redevelopment Project 1 (a) Funds needed to fund the allocation
described in section 1.
SECTION 7 .
The Agency secretary shall certify to the
adoption of this Resolution, and thenceforth and thereafter the
same shall be in full force and effect.
Approved as to Form:
ROBERT M. MYERS
Agency Counsel
:rala
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RESOLUTION NUMBER
(RAS)
(Redevelopment Agency Series)
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SANTA MONICA ALLOCATING $60,806 INTO THE OCEAN
PARK REDEVELOPMENT PROJECT 1 (b) LOW AND MODERATE IN-
COME HOUSING TRUST FUND TO PROVIDE FINANCING FOR THE
CITY WIDE HOUSING ACQUISITION AND REHABILITATION
PROGRAM AND FINDING THE PROVISION OF SUCH HOUSING TO
BE OF BENEFIT TO THE OCEAN PARK REDEVELOPMENT PROJECT
1 (b) .
WHEREAS, the Redevelopment Agency has adopted Resolution
Number 390 (RAS) establishing the Ocean Park Redevelopment l(b)
Low and Moderate Income Housing Trust Fund (the "Housing Trust
Fund"); and
WHEREAS, the Redevelopment Agency has adopted Resolution
NUmber 381 (RAS) making part of the requirements of Health and
Safety
Code
Section
33334.2
concerning
tax
increment
expenditures for low and moderate income housing applicable to
the Ocean Park Redevelopment Project l(b): and
WHEREAS, in accordance with Resolution Number 381 (RAS),
the Redevelopment Agency desires to allocate money to the City-
wide Housing Trust Fund to provide housing at affordable cost
for persons and families of low and moderate income.
NOW THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF
SANTA MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1.
Pursuant to Resolution Number 381 eRAS), the
Redevelopment Agency does hereby allocate the sum of $60,806
into the Housing Trust Fund to be paid into the Housing Trust
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Fund from property taxes allocated to the Redevelopment Agency
pursuant to Health and Safety Code section 33670 and the Re-
development Plan for the Ocean Park Redevelopment Project 1(b).
SECTION 2. The funds so allocated shall be held in the
Housing Trust Fund until expended by the Agency for the purposes
set forth in Resolution Number 381 (RAS).
SECTION 3. The Redevelopment Agency hereby elects to make
the requirements of Health and Safety Code section 33334.2 ap-
plicable to the Ocean Park Redevelopment Project l(b) to the
extent provided for in sections 4 and 5 of this Resolution.
SECTION 4. The payment of funds into the Housing Trust
Fund as required by the Resolution pursuant to said Health and
Safety Code section 33334.2 shall constitute an obligation and
indebtedness of the Redevelopment Agency for the Ocean Park Re-
development Project 1(b).
SECTION 5. Pursuant to Resolution Number 381 (RAS), the
Redevelopment Agency hereby finds, determines and resolves that
the use of Housing Trust Funds outside of the Ocean Park
Redevelopment Project l(b) is of benefit to the Ocean Park
Redevelopment Project l(b).
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SECTION 6. The Controller of the Redevelopment Agency is
hereby authorized to retain or pay all interest income earned on
this allocation into the Housing Trust Fund. The Controller of
the Redevelopment Agency is further authorized to pay all other
income or loan repayments or revenues recei ved by the
Redevelopment Agency arising from the expenditure of the funds
allocated by this Resolution into the Housing Trust Fund and to
use those funds to the extent available to supplement Ocean Park
Redevelopment Project 1 (b) Funds needed to fund the allocation
described in section 1.
SECTION 7.
The Agency secretary shall certify to the
adoption of this Resolution, and thenceforth and thereafter the
same shall be in full force and effect.
Approved as to Form:
ROBERT M. MYERS
Agency Counsel
:ralb
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(CCS)
RESOLUTION NUMBER
(CITY COUNCIL SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA FINDING AND DETERMINING THAT THE USE OF
FUNDS IN THE DOWNTOWN REDEVELOPMENT PROJECT LOW AND
MODERATE INCOME HOUSING TRUST FUND WILL BE OF
BENEFIT TO THE DOWNTOWN REDEVELOPMENT PROJECT.
WHEREAS, it is the policy of this locality to assure an
adequate supply of standard housing affordable to low and
moderate income persons and families; and
WHEREAS, the Downtown Redevelopment Project has been
established in the city of Santa Monica in the area bordered by
Broadway, Fourth Street, Colorado, and Second street; and
WHEREAS, the Downtown Redevelopment Proj ect has been fully
developed with a commercial facility; and
WHEREAS, the Redevelopment Agency of the City of Santa Monica
has established a Downtown Redevelopment Project Low and Moderate
Income Housing Trust Fund pursuant to Health and Safety Code
Section 33334.2 for the purpose of increasing and improving the
supply of low and moderate income housing available at affordable
costs within the City of Santa Monica; and
WHEREAS, Health and Safety Code Section 33334.2 requires that
~he City Council concur with the Redevelopment Agency's finding
that the use of the funds will be of benefit to the redevelopment
project area when the funds will be expended outside the
boundaries of the redevelopment project area; and
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WHEREAS, the Redevelopment Agency has investigated the
housing needs of project area employees and has determined that
increasing and improving the supply of low and moderate income
housing available at affordable costs outside of the project area
will benefit the Downtown Redevelopment Project by expanding
housing opportunities for the Downtown Redevelopment Project
labor force within a reasonable distance from the project; and
WHEREAS, on December 13, 1983 the Redevelopment Agency
adopted Resolution Number 378 establishing the Downtown
Redevelopment Project Low and Moderate Income Housing Trust Fund
(the "Housing Trust Fund"): and
WHEREAS, on December 13, 1983 the city Council adopted
Resolution Number 6787 (CCS) concurring in the establishment of
such fund and finding that it is of benefit to the project: and
WHEREAS, on July 25,
Resolution Number
Housing Trust Fund,
1989 the Redevelopment Agency adopted
(RAS) allocating $98,866 to the
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION L The city Council finds and determines that the
Downtown Redevelopment Project will benefit by the use of funds
in the Housing Trust Fund in accordance with Health and Safety
Code Section 33334.2
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SECTION 2. The City Clerk shall certify to the adoption of
this resolution, and thenceforth and thereafter the same shall be
in full force and effect.
Approved as to form:
ROBERT M. MYERS
City Attorney
:ccdown
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RESOLUTION NUMBER
(CCS)
(CITY COUNCIL SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA APPROVING THE PROVISION OF LOW AND
MODERATE INCOME REPLACEMENT HOUSING AND FINDING THAT
EXPENDITURE FOR SUCH HOUSING WILL BE OF BENEFIT TO
THE OCEAN PARK REDEVELOPMENT PROJECT lea).
WHEREAS, it is the policy of this locality to assure an
adequate supply of standard housing affordable to low and
moderate income persons and families; and
WHEREAS,
the
Ocean
Park
Redevelopment
Project
lea)
(hereinafter t1projecttl) has been established in the city of Santa
Monica; and
WHEREAS, the Ocean Park Redevelopment proj ect caused the
demolition of more than 700 units of housing; and
WHEREAS, the Redevelopment Agency of the city of Santa Monica
seeks to invoke the provisions of Health and Safety Code Section
33334.2 for the purpose of replacing the suppy of housing
demolished due to redevelopment activity; and
WHEREAS, Health and Safety Code Section 33334.2 requires that
the City Council concur with the Redevelopment Agency's finding
that the use of the funds will be of benefit to the redevelopment
project area when the funds will be expended outside the
boundaries of the redevelopment project area; and
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e
.
WHEREAS, the Redevelopment Agency has determined that
replacing the supply of low and moderate income housing available
at affordable costs outside of the project area will benefit the
Ocean Park Redevelopment Project; and
WHEREAS, on May 8, 1984, the Redevelopment Agency adopted
Resolution Number 380 (RAS) establishing the Ocean Park
Redevelopment Project lea) Low and Moderate Income Housing Trust
Fund (the "Housing Trust Fund"); and
WHEREAS, on May 8, 1984, the City council adopted Resolution
Number 6855 (CCS) concurring in the establishment of such fund
and finding that it is of benefit to the project; and
WHEREAS, on July 25, 1989, the Redevelopment Agency adopted
Resolution Number (RAS) allocating $63,058 to the
Housing Trust Fund,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION l. The city Council finds and determines that the
Ocean Park Redevelopment Project lea) will benefit by the use of
funds in the Housing Trust Fund in accordance with Health and
Safety Code Section 33334.2.
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.
.
SECTION 2. The City Clerk shall certify to the adoption of
this resolution, and thenceforth and thereafter the same shall be
in full force and effect.
Approved as to form:
ROBERT M. MYERS
City Attorney
:ccla
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.
.
RESOLUTION NUMBER
(CCS)
(CITY COUNCIL SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA APPROVING THE PROVISION OF LOW AND
MODERATE INCOME REPLACEMENT HOUSING AND FINDING THAT
EXPENDITURE FOR SUCH HOUSING WILL BE OF BENEFIT TO
THE OCEAN PARK REDEVELOPMENT PROJECT l(b).
WHEREAS, it is the policy of this locality to assure an
adequate supply of standard housing affordable to low and
moderate income persons and families; and
WHEREAS,
the Ocean Park Redevelopment
project
l(b)
(hereinafter 'lprojectU) has been established in the City of Santa
Monica; and
WHEREAS, the Ocean Park Redevelopment Project caused the
demolition of more than 700 units of housing; and
WHEREAS, the Redevelopment Agency of the City of Santa Monica
seeks to invoke the provisions of Health and safety Code Section
33334.2 for the purpose of replacing the suppy of housing
demolished due to redevelopment activity; and
WHEREAS, Health and Safety Code Section 33334.2 requires that
the city council concur with the Redevelopment Agency's finding
that the use of the funds will be of benefit to the redevelopment
project area when the funds will be expended outside the
boundaries of the redevelopment project area; and
- 1 -
.
.
WHEREAS, the Redevelopment Agency has determined that
replacing the supply of low and moderate income housing available
at affordable costs outside of the project area will benefit the
Ocean Park Redevelopment Project; and
WHEREAS, on May 8, 1984, the Redevelopment Agency adopted
Resolution Number 381 (RAS) establishing the Ocean Park
Redevelopment project l(b) Low and Moderate Income Housing Trust
Fund (the "Housing Trust Fund"); and
WHEREAS, on May 8, 1984, the City Council adopted Resolution
Number 6856 (CCS) concurring in the establishment of such fund
and finding that it is of benefit to the project; and
WHEREAS, on July 25, 1989, the Redevelopment Agency adopted
Resolution Number (RAS) allocating $162,148 to the
Housing Trust Fund,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1. The City council finds and determines that the
Ocean Park Redevelopment Project l(b) will benefit by the use of
funds in the Housing Trust Fund in accordance wi th Health and
Safety Code Section 33334.2.
- 2 -
.
.
.
SECTION 2. The City Clerk shall certify to the adoption of
this resolution, and thenceforth and thereafter the same shall be
in full force and effect.
Approved as to form:
ROBERT M. MYERS
City Attorney
:cclb
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