R-9341
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f'\atty\munI\laws\lbc\houslng res
City Council Meeting 11-24-98
Santa MOnica, California
RESOLUTION NUMBER 9341 CCS
(City Council Senes)
A RESOLUTION OF THE CITY OF SANTA MONICA
AFFIRMING THE INTENT TO USE REDEVELOPMENT HOUSING
TRUST FUND PROPERTY FOR AFFORDABLE HOUSING
WHEREAS, the City of Santa MOnica and the Redevelopment Agency of the City
of Santa Monica provide financial assistance to support the acqUisition and rehabilitation
of properties to preserve and Increase affordable housing opportunities for low and
moderate Income households, and
WHEREAS, the Consolidated Rental Housing Trust Fund GUidelines require that
prOjects ehgible for funding With tax increment revenue from the Redevelopment Housing
Trust Fund shall be occupied by persons earning no more than 100% of median Income,
and
WHEREAS, otherwise eligible projects intending to proVide affordable hOUSing to
persons and families of low and moderate Income could be rendered ineligible by non-
conforming tenancies
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NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1 That the City of Santa MOnica affirms the Intention that property
acquired or otherwIse assisted with Redevelopment Housing Trust Funds be used for the
development of housmg affordable to persons and families of low and moderate Income.
SECTION 2. That If eXIsting tenants at the time of acquIsition or funding of an
otherwise eligible project have mcome above the required level, the City hereby defers the
requirements as to those Units If the mtent IS to use the project for affordable housmg.
SECTION 3. That such deferred units shall be required by appropriate covenants
to be converted to affordable Units when the eXisting tenants vacate those Units
SECTION 4 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:
MARSHA .(oNES MOUTRIE
City Attorney
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Adopted and approved thIs 24th of November, 1998
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Robert Holbrook, Mayor
I, Marla M Stewart, City Clerk of the City of Santa MOnica, do hereby certify that
the foregoing ResolutIon 9341 (CCS) was duly adopted at a meetmg of the Santa
MOnica City Council held on the 24th of November, 1998 by the follOWing vote
Ayes Councllmembers
Feinstein, Genser, O'Connor, Rosenstein
Noes Councllmembers
None
Abstain Councllmembers
None
Absent Councllmembers
Ebner, Holbrook
ATTEST
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Marla M Stewart, C\ty Clerk