Resolution No. 6719RESOLUTION NO. 6719
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS EXTENDING
THE DEVELOPMENT PERIOD FOR THE PROPERTY AT 5732 LINCOLN AVENUE
ACQUIRED BY THE FORMER CYPRESS REDEVELOPMENT AGENCY WITH
LOW AND MODERATE INCOME HOUSING FUNDS TO BE USED FOR THE
DEVELOPMENT OF LOW AND MODERATE INCOME HOUSING
WHEREAS, the City of Cypress is a municipal corporation and charter city under
the Constitution of the State of California ("City"); and
WHEREAS, under state law 33334.2 et seq., a certain portion of tax increment
funds received by the former Cypress Redevelopment Agency (Agency) under Health
and Safety Code Section 33670 was required to be set-aside in a Low and Moderate
Income Housing Fund to be used by the Agency to improve, increase, and preserve the
community's supply of low- and moderate -income housing, ("Low and Moderate Income
Housing Funds"); and
WHEREAS, on December 30, 2003, the Agency acquired that certain real property
known as Assessor Parcel No. 244-472-09, which is located at 5732 Lincoln Avenue with
Low and Moderate Income Housing Funds as the site was identified for future housing
for low- and moderate -income persons; and
WHEREAS, in February 2013, the property was transferred from the State to the
City's Successor Agency.
WHEREAS, pursuant to Public Health and Safety Code Sections 34176 and
34176.1 the City Council, as the Housing Successor Agency is authorized to take this
action to ensure that the property is used for the development of housing affordable to
persons and families of low and moderate income;
NOW, THEREFORE, the City Council of the City of Cypress resolves as follows:
Section 1. The City Council finds and determines as follows:
a. The foregoing Recitals are true and correct and are incorporated
herein.
b. Due to economic and market factors, development of the property for
housing affordable to persons and families of low- and moderate -income has not been
able to be accomplished and an extension is warranted so that the site is preserved for
future affordable housing.
c. Pursuant to Health and Safety Code Section 33334.6, the City
Council affirms its intention that the property be used for the development of housing
affordable to persons and families of low and moderate income.
d. The time period for development of Property is hereby extended for
a period of five years to January 28, 2024.
Section 2. The City Manager and authorized designees are hereby authorized
and directed to take such other and further actions, and sign such other and further
documents, as is necessary and proper in order to implement this Resolution on behalf
of the City.
PASSED AND ADOPTED by the City Council of the City of Cypress at a regular
meeting held on the 28th day of January, 2019.
MAYOR OF HE CITY(OF CYPRESS
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ATTEST:
CITY CLERK OF THE CITY OF CYPRESS
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
I, DENISE BASHAM, 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 28th day of January, 2019, by the following roll call vote:
AYES: 5 COUNCIL MEMBERS: Morales, Peat, Yarc, Johnson and Berry
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
CITY CLERK OF THE CITY OF CYPRESS
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