HomeMy WebLinkAboutReso RDA 02-2005RESOLUTION NO. 02-2005
REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO,
STATE OF CALIFORNIA
A RESOI,UTION DETERMINING THAT PLANNING AND
ADMINISTRATIVE EXPENSES FOR FISCAl, YEAR 2004-2005 ARE
NECESSARY FOR THE PRODUCTION, IMPROVEMENT, OR
PRESERVATION OF LOW AND MOI)ERATE INCOME HOUSING
PURSUANT TO SECTION 33334.3(d) OFTHE CALIFORNIA HEAIfFH AND
SAFETY CODE
WHEREAS, by Section 33334.3(c) of the California Health and Safety Code, the moneys in the
Agency' s Low and Moderate Income Housing Fund shall be used to increase, improve, and preserve the supply
of low and moderate income housing within the territorial jurisdiction of the Agency; and
WHEREAS, by Section 33334.3(d) of the Code, it is the intent of the California Legislature that the
Low and Moderate Income Housing Fund be used to the maximum extent possible to defray the costs of
production, improvement, and preservation of low and moderate income housing and that the amount of money
spent for planning and general administrative activities associated with the development, improvement, and
preservation of that housing not be disproportionate to the amount actually spent for the costs of production,
improvement, or preservation of that housing. The Agency shall determine annually that the planning and
administrative expenses are necessary for the production, improvement, or preservation of low and moderate
income housing; and
WHEREAS, the Agency has determined that the combined $372,592 budgeted in 2004-2005 for
planning and administrative expenses in the Low and Moderate Income Housing Fund are necessary for the
production, improvement, or preservation of low and moderate income housing and at 6.5% of the overall
Housing Fund budget, are not disproportionate to the direct costs spent on the production, improvement or
preservation of such housing.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency Board of the City of South
San Francisco that planning and administrative expenses for fiscal 2004-2005 are necessary for the production,
improvement, or preservation of low and moderate income housing, pursuant to Section 33334.3(d) of the
California Health and Safety Code.
I hereby certify that the foregoing Resolution was regularly introduced and adopted bt~ the
Redevelopment Agency of the City of South San Francisco at a regular meeting held on the 9 day of
February 2005 by the following vote:
AYES:
Boardmembers Richard A. Garbarino, Pedro Gonzalez, and Karyl Matsumoto,
Vice Chair Joseph A. Femekes and Chair Rawnond L. Green
NOES: None.
ABSTAiN: None.
ABSENT: None
ATTEST: