R-6906
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Attachm~ E
RESOLUTION NUMBER 6906(CCS)
(Clty Councll Serles)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA MONICA APPROVING 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, 1t 1S the P011CY of this locality to assure an ade-
quate supply of standard hous1ng affordable to low and moderate
income persons and fam1lles; and
WHEREAS, the Downtown Redevelopment Project has been es-
tab11shed 1n the C1ty of Santa Monica In the area bordered by
Broadway, Fourth Street, Colorado, and Second Street; and
WHEREAS, the Downtown Redevelopment Project has been fully
developed with a commerc1al fac111ty; and
WHEREAS, the Redevelopment Agency of the C1ty of Santa Monl-
ca 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 1ncreaslng and 1mproving
the supply of low and moderate income houslng avallable at af-
fordable costs with1n the City of Santa Mon1ca; and
WHEREAS, Health and Safety Code Sect10n 33334.2 requires
that the C1ty CounC11 concur with the Redevelopment Agency's
f1nd1ng that the use of the funds w11l be of benef1t to the re-
development project area when the funds w1ll be expended outside
the boundaries of the redevelopment project area; and
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WHEREAS, the Redevelopment Agency has investIgated the hous-
ing needs of project area employees and has determIned that in-
creas1ng 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 w1thIn a reasonable distance from the proJect; and
WHEREAS, on December 13, 1983 the Redevelopment Agency adop-
ted Resolut1on Number 378 establishing the Downtown Redevelopmnt
Project Low and Moderate Income 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 September 4, 1984 the Redevelopment Agency adop-
ted ResolutIon Number 388 (RAS) allocating $1,000,000 to the
Housing Trust Fund,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1. The C1ty Council finds and determines that the
Downtown Redevelopment Project w111 benefit by the use of funds
in the Downtown Redevelopment Project Low and Moderate Income
Housing Trust fund in accordance with Health and Safety Code Sec-
tion 33334.2.
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SECTION 2. The C1ty Clerk shall cert1fy 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. MYer~
CIty Attorney
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Adopted and approved this 4th day of September, 1984.
~\~V
..tLav~ ~~..
- Mayor.
I hereby certify that the foregoing Resolutlon No. 6906(CCS)
was duly adopted by the City Council of the City of Santa Monica
at a meetlng thereof held on September 4, 1984 by the following
Council vote:
Ayes: Councilmembers: Epstein, Jennings, Press, Reed,
Zane and Mayor Edwards
Noes: Councllmembers: None
Absent: Councilmembers: Conn
Abstaln: Councilmembers: None
ATTEST:
~.t0.~..
.City Clerk