HomeMy WebLinkAboutResolution No. 4404 RESOLUTION NO. 44o4
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF DOWNEY FINDING THAT THE USE OF
TAXES ALLOCATED FROM THE DOWNEY
REDEVELOPMENT PROJECT FOR THE PURPOSE OF
HOUSING OUTSIDE THE PROJECT AREA WILL BE
OF BENEFIT TO THE PROJECT
WHEREAS, the Community Development Commission of the
City of Downey (the "Commission ") has prepared a proposed
Amendment No. 3 to the Redevelopment Plan (the "Redevelopment
Plan ") for the Downey Redevelopment Project (the "Project ")
which would expand the existing Project Area; and
WHEREAS, the Redevelopment Plan as now constituted and
as would be in effect should the proposed Amendment No. 3 be
approved provides for the allocation of taxes from the Project
Area; and
WHEREAS, Section. 33334.2 of the California Community
Redevelopment Law (Health and Safety Code Section 33000 et
seq.) requires that not less than twenty percent (20 %) of all
taxes so allocated be used for the purpose of improving and
increasing the community's supply of low- and moderate - income
housing available at affordable housing cost; and
WHEREAS, Section 33334.2(g) of the Health and Safety
Code provides that such funds may be used outside the Project
Area if a finding is made by resolution of the Commission and
the City Council that such use will be of benefit to the
Project;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY
DOES HEREBY FIND AND RESOLVE that the use of taxes allocated
from the Project Area for the purpose of improving and
increasing the community's supply of low- and moderate - income
housing available at affordable housing cost outside the
Project Area and within the City of Downey will be of benefit
to the Project.
APPROVED AND ADOPTED this 29th day of May , 1984.
AA I ° f ir e I dr /////
411 'obert G. o inack, Mayer
Resolution No. 4404
Page 2
ATTEST:
'4 1 /
Robert L. Shan City Clerk
I HEREBY CERTIFY that the foregoing resolution was
adopted by the Downey City Council at a regular meeting thereof
held on the 29th day of May , 1984, by the following vote:
AYES: 5 Council Members: Jackman, Barb, Davila, Quinn, Cormack
NOES: 0 Council Members: None
ABSENT: 0 Council Members: None
ABSTAIN: 0 Council Members: None
Robert L. Shand, City Clerk