R-7847
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RESOLUTION NUMBER 7847
(CCS)
(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 pol icy of this local i ty to assure an
adequate supply of standard housing affordable to low and
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moderate income persons and families; and
WHEREAS, the Downtown Redevelopment Proj ect has been
established in the City of Santa Monica in the area bordered by
Broadway, Fourth Street, Colorado Avenue, 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
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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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 (RAS) establishing the Downtown
Redevelopment Project Low and Moderate Income Housing Trust Fund
(the "Housing Trust FundU); and
WHEREAS, on December l3, 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, 1989, the Redevelopment Agency adopted
Resolution Number 426 (RAS) allocating $98,866 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
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:
(Wi,.w't ~ ~
ROBERT M. MYERS
City Attorney
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Adopted and approved this 25th day of July, 1989.
'On
I hereby certify that the foregoing Resolution No. 7847(CCS)
was duly adopted by the City council of the City of Santa Monica
at a meeting thereof held on July 25, 1989 by the following
council vote:
Ayes: Councilmembers: Abdo, Finkel, Genser, Jennings,
Katz, Reed, Mayor Zane
Noes: Councilmembers: None
Abstain: Councilmembers: None
Absent: Councilmembers: None
ATTEST:
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