HomeMy WebLinkAboutResolution No. 4902 RESOLUTION NO. 4an2
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DOWNEY FINDING THAT THE PROVISION OF LOW -
AND MODERATE - INCOME HOUSING OUTSIDE THE WOODRUFF INDUSTRIAL PROJECT
WILL BE OF BENEFIT TO THE REDEVELOPMENT PROJECT
WHEREAS, the Downey City Council (the "City Council ") has undertaken the
formation of the Woodruff Industrial 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 Commission from a 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 Commission may use such funds outside a project area upon adoption of a
resolution by the Commission and by the legislative body finding that the
provision of low- and moderate - income housing outside a project area is of
benefit to the redevelopment project.
WHEREAS, there is no land available for residential development within the
Project Area is limited, and suitable locations for such housing are
available outside the Project Are.
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 Woodruff Industrial Project will be of benefit to the
Project.
APPROVED AND ADOPTED this 8th day of July 19 87.
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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 8th day of July , 1987, by the following vote:
AYES: 4 Council Members: Barb, Cormack, Paul, Boggs
NOES: 0 Council Members: None
ABSENT: 1 Council Members: Santangelo
ABSTAIN: 0 Council Members:
None
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