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Department
City Clerk
General - Type
Resolutions
General 2 - Date
6/22/2010
Number
R-919
Description
plan & admin expense low moderate inc housing 2010-11 nec for production, improve, preserve housing
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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. 919 <br />A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br />RIVERSIDE, CALIFORNIA, FINDING THAT PLANNING AND <br />ADMINISTRATIVE EXPENSES FROM THE AGENCY'S LOW AND <br />MODERATE INCOME HOUSING FUNDS FOR THE 2010-2011 FISCAL <br />YEAR ARE NECESSARY FOR THE PRODUCTION, IMPROVEMENT OR <br />PRESERVATION OF LOW AND MODERATE INCOME HOUSING. <br />WHEREAS, pursuant to California Redevelopment Law (Health & Safe. Code § 33000 et. <br />seq.) the Redevelopment Agency of the City of Riverside California ("Agency") is required to <br />establish a fund for the purpose of increasing and improving the community's supply of low- and <br />moderate- income housing ("Low and Moderate Income Housing Fund"); and <br />WHEREAS, the Agency has established a Low and Moderate Income Housing Fund for the <br />purpose of increasing and improving the community's supply of low- and moderate- income <br />housing in the community; and <br />WHEREAS, Health & Safety Code section 33334.3(d) allows the Agency to use monies <br />contained in the Low and Moderate Income Housing Fund for planning and general administrative <br />activities associated with the development, improvement and preservation of low- and moderate- <br />income housing so long as the amount spent on such activities is not disproportionate to the <br />amounts budgeted for the costs of production, improvement or preservation of that housing; and <br />WHEREAS, Health & Safety Code section 33334.3(d) requires that the Agency annually <br />determine that the planning and administrative expenses are necessary for the actual production, <br />improvement or preservation of low- and moderate- income housing in the City of Riverside. <br />NOW, THEREFORE, IT IS HEREBY RESOLVED by the Board of the Redevelopment <br />Agency of the City of Riverside as follows: <br />Section 1: That the above recitals are all true and correct. <br />Section 2: The Agency hereby finds and determines that the planning and administrative <br />expenses to be paid from the Low and Moderate Income Housing Fund for each redevelopment <br />
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