Resolution No. 5866RESOLUTION NO. 5866
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS FINDING
THAT THE USE OF LOW AND MODERATE INCOME HOUSING FUNDS FROM THE
MERGED PROJECT AREA FOR THE PURPOSE OF INCREASING, IMPROVING,
AND PRESERVING THE COMMUNITY'S SUPPLY OF LOW AND MODERATE
INCOME HOUSING OUTSIDE THE MERGED PROJECT AREA, IS OF BENEFIT TO
THE MERGED PROJECT AREA
WHEREAS, the City Council of the City of Cypress ( "City Council ") and the Cypress
Redevelopment Agency ( "Agency ") have taken steps to merge the Civic Center (Original and
Amendment Area), Lincoln Avenue (Original and Proposed Added Area) and Los Alamitos Race
Track and Golf Course Redevelopment Project Areas ( "Merged Project Area ") for financial
reasons pursuant to Section 33485 -33489 of the California Health and Safety Code, make
certain other amendments to the Redevelopment Plans for the foregoing described Project
Areas including adding territory (the "Added Area ") to the Lincoln Avenue Project Area, and
adopt a Merged, Amended, and Restated Redevelopment Plan as a consolidated plan for the
Merged Project Areas including the Added Area (collectively, the "Merged Project Area "); and
WHEREAS, Health & Safety Code Section 33334.2 requires that the Agency deposit
into its Low and Moderate Income Housing Fund not less than twenty percent (20 %) of all tax
increment revenues so allocated to the Agency to be used by the Agency for the purpose of
increasing, improving, and preserving the community's supply of low- and moderate - income
housing available at affordable housing costs; and
WHEREAS, the foregoing described portion of the taxes so allocated to the Agency to
be used by the Agency for affordable housing purposes is hereinafter referred to as the "Low
and Moderate Income Housing Funds "; and
WHEREAS, Health & Safety Code Section 33334.2(g) further provides that the Agency
may use Low and Moderate Income Housing Funds outside of the Project Area if a finding is
made by resolutions of the Agency and the City Council that such use will be of benefit to the
Project Area.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CYPRESS, DOES
HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS:
SECTION 1. The use of Low and Moderate Income Housing Funds from the Merged
Project Area for the purpose of increasing, improving, and preserving the community's supply of
low- and moderate - income housing available at affordable housing costs outside the Merged
Project Area is of benefit to the Merged Project Area.
PASSED AND ADOPTED by the City Council of the City of Cypress at a regular
meeting held on the 13th day of June, 2005.
ATTEST:
Y CLERK OF THE CITY OF CYPRESS
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MAYOR OF THE CITY OF CYPRESS
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STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
I, JILL R. GUERTIN, 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 13th day of June, 2005, by the following roll call vote:
AYES: 4 COUNCIL MEMBERS: Luebben, McCoy, Seymore and McGiII
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
ABSTAIN: 1 COUNCIL MEMBERS: Sandhi
CLERK
F THE CITY OF CYPRESS
Mayor Pro Tem Sondhi did not participate in this action due to her ownership of property in
proximity to the project area.