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CRA - 135RESOLUTION NO. CRA -135 A RESOLUTION OF THE CYPRESS REDEVELOPMENT AGENCY OPPOSING THE GOVERNOR'S PROPOSAL TO ABOLISH REDEVELOPMENT AGENCIES IN CALIFORNIA WHEREAS, as part of his 2011 -12 budget proposal, the Governor has proposed to permanently abolish California's 425 local redevelopment agencies; and WHEREAS, the Governor's proposal represents a continuation of the same misguided and illegal State budget raids of local government funds that voters have repeatedly sought to end, including most recently in November 2010 when an overwhelming 61 of voters approved Proposition 22 and thereby elected to stop State raids of local government funds, including redevelopment funds; and WHEREAS, this proposal will bring very little financial benefit to the State, in that according to the State Controller's Office, redevelopment agencies have more than $87 billion in bond and other contractual obligations that legally must be repaid before revenues are available for any other purpose, and that according to the State Department of Finance's own budget documents, there will be zero State savings in out years from shutting down redevelopment; and WHEREAS, the Governor's proposal to eliminate redevelopment agencies will destroy local economic development, including hundreds of thousands of jobs and billions of dollars in local economic activity throughout California; and WHEREAS, in Cypress abolishing redevelopment would prevent and /or substantially impact the following projects: Habitat for Humanity Project (Impact —loss of 15 affordable housing units) Motel Reuse /Replacement (Impact —loss of 50+ affordable housing units or ±50,000 sq. ft. retail complex) 1 acre Agency property by post office (Impact —loss of potential retail development) LART 13 acre Agency site (Impact loss of construction jobs associated with the development of a 150,000 sq. ft. retail complex; loss of permanent retail /service jobs following project completion) LART Project Area Development (Impact hindrance of future mixed use development of the 300 acre Los Alamitos Race Track property); and WHEREAS, throughout California, redevelopment agency activities support 304,000 jobs annually including 170,600 construction jobs, contribute over $40 billion annually to California's economy in the generation of goods and services, and generate more than $2 billion in state and local taxes in a typical year; and WHEREAS, eliminating redevelopment will take away the most significant tool local governments have to comply with state requirements to plan for more compact urban development supported by transit oriented development, housing, jobs and infrastructure; and WHEREAS, eliminating redevelopment will destroy the development of affordable housing in California because redevelopment agencies are the second largest funder of affordable housing in California, behind only the federal government, and are responsible for the development and preservation of over 98,000 units of affordable housing since 1993; and WHEREAS, the proposal to eliminate redevelopment agencies violates multiple State and Federal constitutional provisions. herein. NOW, THEREFORE, the Cypress Redevelopment Agency resolves as follows: Section 1. The Agency Board finds and determines as follows: A. The foregoing Recitals are true and correct and are incorporated B. The Cypress Redevelopment Agency formally opposes the Governor's proposal to eliminate local redevelopment agencies in California. Section 2. The Agency Board, Executive Director, and authorized staff designees are hereby authorized to communicate the Agency's opposition to this budget proposal to the Governor, the Legislature, business groups, and local citizens. PASSED AND ADOPTED by the governing body of the Cypress Redevelopment Agency, at a regular meeting held on the 28 day of Fry 2 ATTEST: SECRETARY OF THE CYPRESS REDEVELOPMENT AGENCY STATE OF CALIFORNIA COUNTY OF ORANGE SS 2 CHAIRPE ,RSON OF THE CYPRESS DEVELOPMENT AGENCY I, DENISE BASHAM, Secretary of the Cypress Redevelopment Agency, DO HEREBY CERTIFY that the foregoing Resolution was duly adopted at a regular meeting of the said Agency held on the 28 day of February 2011; by the following roll call vote: AYES: 4 AGENCY MEMBERS: Bailey, Narain, Seymore, and Mills NOES: 1 AGENCY MEMBERS: Luebben ABSENT: 0 AGENCY MEMBERS: None SECRETARY OF THE CYPRESS REDEVELOPMENT AGENCY