Resolution No. 6122 314
RESOLUTION NO. 6122
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
AFFIRMING THE INTENTION OF THE CITY COUNCIL THAT CERTAIN
PROPERTIES ACQUIRED BY THE CYPRESS REDEVELOPMENT AGENCY
WITH LOW AND MODERATE INCOME HOUSING FUNDS BE USED
FOR THE DEVELOPMENT OF LOW AND MODERATE INCOME HOUSING.
WHEREAS, the Cypress Redevelopment Agency ("Agency") is a public body,
corporate and politic, organized and existing under the California Community
Redevelopment Law (Health & Safety Code § 33000 et seq. ("CRL"); and
WHEREAS, the City of Cypress is a municipal corporation and charter city under
the Constitution of the State of California ("City"); and
WHEREAS, the City Council is the "legislative body," as that term is defined in
the CRL, for the jurisdiction in which the Agency operates; and
WHEREAS, under CRL, at Health and Safety Code Section 33334.2 et seq., a
certain portion of tax increment funds received by the Agency under Health and Safety
Code Section 33670 must 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, as defined in the CRL ("Low and Moderate Income
Housing Funds"); and
WHEREAS, on November 4, 2003, the Agency acquired that certain real
property known as Assessor Parcel Nos. 134-011-43 and 134-011-45, which is located
at 6122 Lincoln Avenue; ("Property #1"); 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; ("Property #2"); and
WHEREAS, Property #1 and Property #2 were both acquired by the Agency with
Low and Moderate Income Housing Funds as those sites were identified for future
housing for low- and moderate-income persons; and
WHEREAS, pursuant to the CRL, at Health and Safety Code Section 33334.16,
for each interest in real property acquired using Low and Moderate Income Housing
Funds, the Agency, within five years from the date of acquisition, is required to initiate
activities, such as zone changes or the entering into disposition and development
agreements, consistent with the development of the property for low- and moderate-
income housing; and
WHEREAS, for Property #1 the five year period expires as of November 4, 2008;
and
WHEREAS, for Property #2 the five year period expires as of December 30,
2008; and
WHEREAS, pursuant to Health and Safety Code Section 33334.16, the City
Council, as the legislative body as defined by the CRL, is authorized to extend the
foregoing described five year period for up to an additional five years upon the City
Council affirming its intention that the property be 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.
315
B. Due to economic and market factors, including the increased cost
of development, housing market decline, lack of access to credit markets, site
constraints, and related factors, development of Property #1 and Property #2 for
housing affordable to persons and families of low- and moderate-income has not been
able to be accomplished within the initial period under Health and Safety Code Section
33334.16 and an extension is warranted so that these two sites are preserved for future
affordable housing.
C. Pursuant to Health and Safety Code Section 33334.16, the City
Council affirms its intention that Property #1 and Property #2 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 #1 under Health and
Safety Code Section 33334.16 is hereby extended for a period of five years to
November 4, 2013.
E. The time period for development of Property #2 under Health and
Safety Code Section 33334.16 is hereby extended for a period of five years to
December 30, 2013.
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 27th day of October, 2008. '^ ,
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MAYOR OF THE C Y OF CYPRESS
ATTEST:
1 G2-e-Ok 1� dui
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 27th day of October, 2008, by the following roll call vote:
AYES: 4 COUNCIL MEMBERS: Bailey, Luebben, Narain, and Seymore
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 1 COUNCIL MEMBERS: Mills
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CITY CLERK OF THE CITY OF CYPRESS