Resolution No. 3745RESOLUTION NO. 3745
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
FINDING THAT THE PROVISION OF LOW AND MODERATE INCOME
HOUSING OUTSIDE THE LOS ALAMITOS RACE TRACK AND GOLF
COURSE REDEVELOPMENT PROJECT WILL BE OF BENEFIT
TO THE PROJECT AREA.
WHEREAS, the City Council of the City of Cypress (the
"Agency ") has undertaken the formation of the Los Alamitos Race
Track and Golf Course 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 Agency 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;
and
WHEREAS, the General Plan of the City of Cypress does not
designate land for residential development within the Los Alamitos
Race Track and Golf Course Redevelopment Project while suitable
locations for such housing are available in other parts of the
community.
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CITY COUNCIL OF
THE CITY OF CYPRESS 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 Los Alamitos Race
Track and Golf Course Redevelopment Project will be of benefit to
the Project Area.
PASSED AND ADOPTED by the City Council of the City of Cypress
at a regular meeting held on the 14th day of May 1990.
M YOR OF THE CITY OF C ESS
ATTEST:
(is ACITY CLERK OF V IT X'OF CYPRESS
STATE OF CALIFORNIA ) SS
COUNTY OF ORANGE )
I, DARRELL ESSEX, City Clerk of the City of Cypress, DO HEREBY
CERTIFY that the foregoing Resolution was duly adopted at a regular
meeting of the said City Council held on the 14th day of May 1990;
by the following roll call vote:
AYES: 5 COUNCIL MEMBERS: Arnold, Bowman, Kanel, Kerry and Age
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
CITY LERK OF HE CIT�j/OF CYPRESS