R-6787
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RESOLUTION NUMBER
6787
(CIty CouncIl SerIes)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA MONICA
APPROVING THE ESTABLI SHMENT OF THE DOWNTOWN REDEVELOPMENT
PROJECT LOW AND MODERATE INCOME HOUSING TRUST FUND AND
FINDING THAT SUCH EXPENDITURE 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 Down town Redevelopment ProJ ect 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 ProJect has been fully
developed WIth a commercIal facilIty; and
WHEREAS, the Redevelopment Agency of the CIty of Santa
MonIca seeks to establIsh 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;
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WHEREAS, the Redevelopment Agency has determ1ned that
1ncreas1ng and 1mproving the supply of low and moderate 1ncome
housing available at affordable costs outsIde of the proJect area
will benefit the Downtown Redevelopment ProJect by expanding
hou~inry o?portunities for the Downtown Redevelopment Project
labor force wIthin a reasonable distance from the proJect,
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 WIll benefit by the establishment
of the Downtown Redevelopment Project Low and Moderate Income
Housing Trust Fund in accordance with Health and Safety Code
Sect10n 33334.2.
SECTION 2.
The CIty Clerk shall certIfy to the adoption of
thIS resolution, and thenceforth and thereafter the same shall be
1n full force and effect.
Approved as to form:
Robert M. Myers
City Attorney
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ADOPTED AND APPROVED THIS
13th
DAY
OF
December
. 198:!.
of'
r
MAYOR
I HEREBY CERTIFY THAT THE FOREGOING RESOLUTION
NO. 6787(CCS)..WAS DULY ADOPTED BY THE CITY COUNCIL OF THE
CITY OF SANTA MONICA flT A MEETING THEREOF HELD ON
December ,13
" . 1983 BY THE FOLLOWING COUNCIL VOTE:
AYES:
COUNcrLMEMBERS: Conn, Jennings, Press, Reed, Zane
and Mayor Edwards
NOES:
COUNCILMEMBERS: Epstein
ABSENT:
COUNC r LMEM8ERS: ..\lone
ABSTAIN:
COUNer LMEMBERS: Kone
ATTEST:
,I n
'/ Fj
{~L,' ,cif/UVr..p "
--
C ITV CLERK
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