HomeMy WebLinkAboutResolution No. 4900 RESOLUTION NO. 4900
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
FINDING THAT THE PROVISION OF LOW- AND MODERATE- INCOME
HOUSING OUTSIDE THE DOWNEY REDEVELOPMENT PROJECT
WILL BE OF BENEFIT TO THE REDEVELOPMENT PROJECT
WHEREAS, the Downey City Council (the `City Council ") has undertaken
Amendment No. 4 to the Downey Redevelopment Project; and
WHEREAS, in accordance with Section 33334.2(a) of Community
Redevelopment Law, not less than twenty percent (20%) of all taxes which are
allocated to the Agency from a redevelopment project area shall be used for the
purposes of increasing and improving the community's supply of low- and moderate -
income housing; and
WHEREAS, Section 33334.2(g) of Community Redevelopment Law provides
that the Agency may use such funds outside a project area upon adoption of a
resolution by the legislative body finding that the provision of low - and moderate -
income housing outside a project area is of benefit to the project; and
WHEREAS, there is relatively little land available for residential development
within the Project Area, and suitable locations for such housing are available outside
of the Project area.
WHEREAS, the Commission has adopted a resolution declaring that the use of
such funds outsid, the Downey Redevelopment Project will be of benefit to the
redevelopment project area.
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CITY
COUNCIL OF THE CITY OF DOWNEY AS FOLLOWS:
SECTION 1. Pursuant to Section 33334.2(g) of Community Redevelopment
Law, the City Council hereby finds that the provision of low- and moderate - income
housing outside the Downey Redevelopment Project will be of benefit to the
redevelopment project.
APPROVED AND ADOPTED this _ day of July ,1987.
`
Mayor, Pro Tem
• City of Downey
ATTEST:
Ci 1 e
Ci of Downey
I HEREBY CERTIFY that the foregoing Resolution was adopted by the City
Council of the City of Downey at a regular meeting thereof held on
the ot, day of July , 1987, by the following vote:
AYES: 4 Council Members: Boggs, Cormack, Barb, Paul
NOES: o Council Members: None
ABSENT: 1 Council Members: Santangelo
ABSTAIN: o Council Members: None,
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