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RES-9668 Acquisition & Predevelopment Grant AgreementRESOLUTION NO. 9668 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ORANGE APPROVING AN ACQUISITION AND PRE DEVELOPMENT GRANT AGREEMENT BY AND AMONG THE CITY OF ORANGE, THE ORANGE REDEVELOPMENT AGENCY AND ORANGE HOUSING DEVELOPMENT CORPORATION REGARDING PROPERTY LOCATED ON WEST CHAPMAN AVENUE BETWEEN LESTER STREET AND CITRUS STREET AND MAKING CERTAIN FINDINGS WHEREAS, pursuant to Sections 33334.2(a) and 33334.6(c) of the Community Redevelopment Law (commencing with Section 33000 of the Health and Safety Code and hereinafter referred to as the CRL) not less than 20% of all taxes which are allocated to the Orange Redevelopment Agency (Agency) are set aside by the Agency in its Low- and Moderate-Income Housing Fund (Housing Fund) and used by the Agency for the purpose of increasing, improving and preserving the community's supply of low- and moderate-income housing available at affordable housing costs to persons and families of low- and moderate-income, including very low income persons and families; and WHEREAS, pursuant to Section 33334.2(e) of the CRL, the Agency may exercise any and all of its powers to carry out this purpose; and WHEREAS, Orange' Housing Development Corporation, a California nonprofit corporation (OHDC), has entered into agreements for the acquisition of certain real property located on West Chapman Avenue, between Lester and Citrus (the Site), which is located within the boundaries of the Orange Merged and Amended Redevelopment Project Area ( the Site); and WHEREAS, OHDC proposes to assemble the Site and, subject to obtaining Low Income Housing Tax Credits, construct on the Site a multi-family residential development consisting of twenty-nine (29) apartment units, to be rented exclusively, at affordable rents, to Low Income and Very Low Income households (the Project); and WHEREAS, OHDC has requested the assistance of the Agency to make available to OHDC $916,750 in Housing Funds to be used to acquire the Site and pay certain predevelopment costs in preparation for the Project, as more fully set forth in an Acquisition and Predevelopment Grant Agreement (Agreement) by and <unong the City of Orange, the Agency and OHDC, substantially in the form presented to the Agency and the City Council; and WHEREAS, in addition to the Agency grant of Housing Funds, OHDC has requested the assistance of the City to make available to OHDC a grant in the amount of $1,085,686,consisting of $966,686 in funds made available to the City by the and Urban Development (HUD) under the HOME Investment Partnerships Act Program (the HOME Program) in accordance with the regulations issued by HUD set forth in 24 CFR Part 92 the HOME Regulations), and $119,000 in program income derived from HUD's Federal Rental Rehabilitation Program, the use of which is subject to HOME Program requirements (the Rental Rehabilitation Program Income); and WHEREAS, the City Council desires to mak(: available to OHDC a grant of HOME funds and Rental Rehabilitation Program Income in the combined amount of $1,085,686 in accordance with the terms and provisions of the agenda report presented to this City Council herewith; and WHEREAS, the Project will consist of privatdy-owned housing, not exempt from ad valorem taxation by reason of any public ownership and is not financed with direct long-term financing from a public body, and is not, therefore, a low rent housing project within the meaning of Article XXXIV of the California Constitution requiring voter approval at an election;and WHEREAS, the City Council and the governing board of the Agency have duly considered all terms and conditions of the Agreement as set forth in the agenda report presented to it and any testimony received at the meeting at which this matter was considered and believes that the activities described therein are in the best inter(:sts of the City and health, safety, morals and welfare of its residents, and in accord v,iththe pub.lic purposes and provisions of applicable State and local law requirements, a11d that such activities promote the affordable housing objectives of the California Community Redevelopment Law as well as the Amended and Restated Redevelopment Plan for the Orallge Merged and Amended Redevelopment Project Area.NOW, THEREFORE, the City Council of the City of Orange resolves, on the basis of the facts set forth in the agenda report presented to it and any testimony received at the meeting at which this matter was considered, as follows:Section I. The City Council hereby authorizes the expenditure of HOME funds in the form of a grant to OHDC in the amount of $966,686 and the expenditure of Rental Rehabilitation Program Income in the form of a grant to OHDC in the amount of $119,000 in accordance with the tenns and provisions set forth in the agenda report presented to the City Council and any testimony received at the meeting at which this matter was considered and in accordance with the Acquisition and Predevelopment Grant Agreement, substantially in the form presented to the Agency and the City Council; and Section 2. The City Council approves the Agreement with OHDC and the Agency in accordance with the terms and provisions- set forth in the agenda report presented to the City Council and any testimony received at the meeting at which this matter was considered and hereby authorizes and directs the Mayor, the City Manager or designee to execute the Agreement on behalf of the City and to take all steps and sign all documents and instruments to carry out the Agreement on behalf of the City.Reso No. 9668 2 - ADOPTED this 22nd day of October, 2002. ATTEST: 1fJ/.,az' ~ ~A'7' Cassandra J. Cath , CIty Clerk, CIty of Orange I hereby certify that the foregoing Resolution was duly and regularly adopted by the CityCounciloftheCityofOrangeataregularmeetingthereofheldonthe22nddayofOctober,2002, by the following vote: A YES: COUNCILMEMBERS: Alvarez, Murphy, Cavecche NOES: COUNCILMEMBERS: None ABSENT: COUNCILMEMBERS: Slater, Coontz ABSTAIN: COUNCILMEMBERS: None A~.aA<AAf Cassandra 1. Cat , CIty Clerk, CIty of Orange I hereby certify that the foregoing Resolution No. 9668 was ratified and adopted by theCityCounciloftheCityofOrangeataregularmeetingthereofheldontheIIthdayofMarch,2003 by the following vote: AYES: NOES: ABSENT: ABSTAIN: COUNCILMEMBERS: Murphy, Coontz, Cavecche COUNCILMEMBERS: None COUNCILMEMBERS: Alvarez COUNCILMEMBERS: Ambriz t-(J~./~d- Cassandra J. Cath , City Clerk, City of Orange Note: See March II, 2003 Minutes for clarification. Reso No. 9668 3 -