Laserfiche WebLink
1 <br /> <br />2 <br /> <br />3 <br /> <br />4 <br /> <br />5 <br /> <br /> 6 <br /> <br /> 7 <br /> <br /> 8 <br /> <br /> 9 <br /> <br />10 <br /> <br />ll <br /> <br />12 <br /> <br />13 <br /> <br />14 <br /> <br />15 <br /> <br />16 <br /> <br />17 <br /> <br />18 <br /> <br />19 <br /> <br />20 <br /> <br />")l <br /> <br />22 <br /> <br />23 <br /> <br />24 <br /> <br />25 <br /> <br />26 <br /> <br />27 <br /> <br /> RESOLUTION NO. 668 <br /> <br /> A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br /> RIVERSIDE, CALIFORNIA, FINDING THAT PLANNING AND ADMINISTRATIVE <br /> EXPENSES FROM THE AGENCY'S LOW AND MODERATE INCOME HOUSING <br /> FUNDS ARE NECESSARY FOR THE PRODUCTION, IMPROVEMENT OR <br /> PRESERVATION OF LOW AND MODERATE INCOME HOUSING. <br /> <br /> WHEREAS, pursuant to California Redevelopinent Law (Health & Safety Code Section <br />33000 et. seq. ) the Redevelopment Agency of the City of Riverside Calilbrnia C~Agency'') is <br />required to establish a fund for the purpose of increasing and improving the community' s supply of <br />low- and moderate- income housing CLow and Moderate Income Housing Fund"); and <br /> <br /> WHEREAS, the Agency has established Low and Moderate Income Housing Funds for <br />the purpose of increasing and improving the community's supply of low- and moderate- income <br />housing in each of the City's five project areas: and <br /> <br /> WHEREAS, Health & Satbty Code section 33334.3 (d) allows the Agency to use moneys <br />contained in the Low and Moderate Income Housing Funds tbr 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 amount <br />actually spent for the costs of production, improvement or preservation of that housing: and <br /> <br /> WHEREAS. Health & Safety Code section 33334.3 (d) requires that the Age~ntcy annually <br />determine that the planning and administrative expenses are necessary fbr the actual production, <br />improvement or preservation of low- and moderate- income housing in the City of Riverside. <br /> <br /> NOW, THEREFORE, IT IS HEREBY RESOLVED by the Board of the Redevelopment <br />Agency of the City of Riverside as follows: <br /> <br /> Section 1: That the above recitals are all true and correct. <br /> <br /> Section 2: That the plam~ing and administrative expenses fbr the 1998-1999 Fiscal Year <br />were necessary tbr the production, in~provement and preservation of low'- and moderate- income <br />housing in the City of Riverside. <br /> <br />('it> Aliorney's ()ffice <br />39(tl} Main Street <br />I{ixcrsitle, CA 92522 <br />19119} 782-5567 <br /> <br /> <br />