HomeMy WebLinkAboutReso RDA 15-1981-- RESOLUTION NO. ]5
RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF SOUTH SAN FRANCISCO
PROVIDING THAT THE USE OF TAX INCREMENT
FUNDS OUTSIDE THE PROJECT AREA FOR
LOW AND MODERATE INCOME HOUSING IS A
BENEFIT TO THE PROJECT
RESOLVED BY THE MEMBERS OF THE REDEVELOPMENT
AGENCY OF THE CITY OF SOUTH SAN FRANCISCO:
WHEREAS, in furtherance of the objectives of
the Community Redevelopment Law, the Agency has undertaken
a program for the clearance and reconstruction or rehabilita-
tion of slum and blighted areas in the City and in this
connection is engaged in carrying out a redevelopment pro-
- ject known as the Gateway Redevelopment Project (hereinafter
referred to as "Project"), in an area (hereinafter referred
to as "Project Area")~, located in the City; and
WHEREAS, in furtherance of the implementation of
Project the Agency has undertaken various redevelopment
activities and contemplates further redevelopment actiVities
consisting of, inter alia, the adoption of a final Redevelop-
ment Plan; and
WHEREAS, Article XVI, Section 16 of the Constitution
of the State of California and Article 6, Chapter 6 of the
Community Redevelopment Law, Division 24 of the California
Health and Safety Code (commencing with Section 33670) provide
a method of financing redevelopment activities through the
utilization by the Agency of increased tax revenues, if any,
referred to herein as "Tax Increment Financing"; and
WHEREAS, the provisions of Article XVI, Section 16
of the Constitution of the State of California and Article 6,
Chapter 6 of the Community Redevelopment Law, Division 24 of
the California Health and Safety Code are incorporated in the
proposed Gateway Redevelopment Plan which will be adopted by
the legislative body and the Agency of the City of South San
Francisco; and
-- WHEREAS, Article 6, Chapter 6 of the Community
Redevelopment Law, Division 24 of the California Health and
Safety Code Section 33334.2 provides that not less than 20%
of all taxes which are allocated to the Agency pursuant to
Section 33670 of the Health and Safety Code shall be used by
the Agency for the purposes of increasing and improving the
community supply of low and moderate income housing available
at affordable housing costs; and
WHEREAS, the Agency may use these funds either inside
or outside the Project Area upon a finding that the use of
such funds outside the Project Area will benefit the Project;
NOW, THEREFORE, it is found and determined as
follows:
1. The Agency finds and declares that the use of
tax increment funds to increase low and moderate income housing
pursuant to the requirements of the Health and Safety Code
Section 33334.2 is a benefit to the Project Area.
2. The Agency further finds and declares that the
provision of low and moderate housing outside the Project
Area w~ll be and is a benefit to the project.
ADOPTED, signed and approved this 2]stday of May ,
1~81,
Ch'airman,Redevelopment Agency
City of South San Francisco
ATTEST;
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