CRA - 59RESOLUTION NO. CRA-59
A RESOLUTION OF THE CYPRESS REDEVELOPMENT AGENCY FINDING THAT THE
PROVISION OF LOW AND MODERATE INCOME HOUSING OUTSIDE LINCOLN
AVENUE REDEVELOPMENT PROJECT WILL BE OF BENEFIT TO THE PROJECT
AREA.
WHEREAS, the Cypress Redevelopment Agency (the "Agency") has
undertaken the formation of the Lincoln Avenue 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 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 Lincoln
Avenue Project Area, while suitable locations for such housing
are available in other parts of the community.
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CYPRESS
REDEVELOPMENT AGENCY AS FOLLOWS:
SECTION 1. Pursuant to Section 33334.2(g) of Community
Redevelopment Law, the Agency hereby finds that the provision of
low and moderate income housing outside the Redevelopment Project
will be of benefit to the Project Area.
PASSED AND ADOPTED by the governing body of the Cypress
Redevelopment Agency this 14th day of May 1990.
CYPRESS REDEVELOPMENT AGENCY
ATTEST:
CYPRESS REDEVELOPMENT AGENCY
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
I, DARRELL ESSEX, Secretary of the Cypress Redevelopment
Agency, DO HEREBY CERTIFY that the foregoing Resolution was duly
adopted at a regular meeting of said Agency, held on the 14th day
of May 1990; by the following roll call vote:
AYES: 5
NOES: 0
ABSENT: 0
AGENCY MEMBERS:
AGENCY MEMBERS:
AGENCY MEMBERS:
Arnold, Bowman, Kanel, Kerry
and Age
None
None
SECRETARy/
CYPRESS REDEVELOPMENT AGENCY