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8/1/2001 8:48:49 PM
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3/15/1999 10:33:27 PM
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General - Type
Resolutions
General 2 - Date
2/2/1999
Number
R-652
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RESOLUTION NO. 652 <br /> <br />A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY <br />OF RIVERSIDE FINDING THAT THE PROVISION OF LOW- AND <br />MODERATE-INCOME HOUSING OUTSIDE THE BOUNDARIES OF <br />THE PROPOSED AMENDED ARLINGTON REDEVELOPMENT <br />PROJECT WILL BE OF BENEFIT TO THE PROJECT <br /> <br /> WHEREAS, the Redevelopment Agency of the City of Riverside (the "Agency") has <br />initiated the expansion of the Arlington Redevelopment Project (the "Project"); and <br /> <br /> WHEREAS, the City Council of the City of Riverside (the "City Council") and the <br />Agency will hold a joint public hearing on the proposed Redevelopment Plan for the Project; and <br /> <br /> WHEREAS, in accordance with Section 33334.2(a) of Health and Safety Code, not less <br />than twenty percent (20%) of all tax increment that is allocated to the Agency from the Project <br />Area shall be used for the purposes of increasing, improving, and preserving the community's <br />supply of low- and moderate-income housing; and <br /> <br /> WHEREAS, Health and Safety Code Section 33334.2(g) provides that the Agency may <br />use such funds outside the Project Area upon adoption of resolutions by the Agency and the City <br />Council finding that the provision of low- and moderate-income housing outside the Project Area <br />is of benefit to the Project; and <br /> <br /> WHEREAS, future locations of housing for low- and moderate-income families cannot <br />be fully determined at this time. <br /> <br /> NOW, THEREFORE, it is hereby resolved by the Redevelopment Agency of the City <br />of Riverside as follows: <br /> <br /> SECTION 1:. Pursuant to Section 33334.2(g) of Health and Safety Code, the Agency <br />hereby finds that the provision of low- and moderate-income housing outside the boundaries of <br />the Project Area will be of benefit to the Project, because the exact extent of future low- and <br />moderate-income housing needs are not known, and may require more land than is available in <br />the Project Area. <br /> <br /> SECTION 2: Pursuant to Health and Safety Code Section 33334.2(g), the Agency <br />hereby authorizes the use of low- and moderate-income housing funds outside the boundaries of <br />the Project Area. <br /> <br /> <br />
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