RES-ORA-0309 Tax Allocation from Third Amendment to Southwest Redevelopment Project AreaRESOLUTION NO. ORA-
0309 A RESOLUTION OF THE ORANGE
REDEVELOPMENT AGENCY MAKING CERTAIN FINDINGS THAT THE
USE OF TAXES ALLOCATED FROM THE
THIRD AMENDMENT TO THE SOUTHWEST
REDEVELOPMENT PROJECT AREA OUTSIDE OF THE THIRD
AMENDMENT AREA FOR THE PURPOSE OF LOW- AND
MODERATE-INCOME HOUSING WILL BE OF BENEFIT TO
THE
PROJECT WHEREAS, the Orange Redevelopment Agency (hereinafter referred to as
the Agency") has undertaken the required steps to amend the Southwest Redevelopment
Project the "Project") to add territory (the "Third Amendment"). As proposed, adoption of
the Third Amendment would add the three parcels located at the northwest comer -of La
VetaA venU(~ and Main Street and the ten parcels along the east side of Alpin~ Road between
Culver and La Veta Avenues to the existing Southwest Redevelopment Project Area (the "
third Amendment Area");
and WHEREAS, a draft Third Amendment has been prepared in accordance with
the provisions of the California Community Redevelopment Law, Health and Safety Code
Section 33000, et seq. (the "Redevelopment Law");
and WHEREAS, the Third Amendment provides for the allocation of taxes from the
Third Amendment Area;
and WHEREAS, Section 33334.2 of the Redevelopment Law requires that not less
than twenty percent (20%) of all taxes allocated to the Agency pursuant to Section 33670 of
the Redevelopment Law be used for the purpose of increasing, improving, and preserving
the community's supply of low- and moderate-income housing available at
affordable housing
cost; and WHEREAS, Section 33334.2(g) of the Redevelopment Law provides that
such funds may be used outside the Third Amendment Area if a finding is made by resolution
of the Agency and the City Council that such use will be of benefit to
the Project.NOW, THEREFORE, BE IT RESOLVED, by the Orange
Redevelopment Agency,
as follows:Section 1. The Orange Redevelopment Agency finds and determines that
it may desire to expend taxes allocated from the Third Amendment Area for the
purpose of increasing, improving, and preserving the Community's supply of low-
and moderate-income housing outside the
Section 2. The Orange Redevelopment Agency hereby finds and determines that the
use of taxes allocated from the Third Amendment Area for the purpose of increasing,
improving, and preserving the community's supply of low- and moderate- income housing
available at affordable housing cost outside the Third Amendment Area and within the City of
Orange will be of benefit to the Project.
ADOPTED this 23rd day of Apx:p , 1996._
I' .'~ /. /
C ~rI -'-t._,' I " .../
A /...._-? 7,f-L i. ~.
I ..,... -.......C.'.-c;" ... .Ch(lifman of
theOrange RedeveloEgent Agency ATTEST:I herehy
certify
that the foregoing Resolution was duly and regularly adopted by the Orange Redevelopment Agency at
a regular meeting thereof held on the 23rd day of April 1996 by the
following vote:A YES: DIRECTORS:
MURPHY BARRERA COONTZ SPURGEON SLATER NOES: DIRECTORS: NONE
ABSENT: DIRECTORS: NONE
ABSTAIN : DIRECTORS: NONE
1c/sharefreso/0309