ARA1999-04RESOLUTION No. ARAcici__L___
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY AUTHORiZiNG
THE OFFSETTING OF VARIOUS INTERFUND LOANS AND OBLiGATiONS
INVOLVING THE HOUSING FUND AND NON-HOUSING FUND AND
THAT THE SUBSEQUENT BALANCE OWED TO THE HOUSING FUND BE PAID
ON OR BEFORE JUNE 30, 1999
WHEREAS, the Anaheim Redevelopment Agency ("Agency") is a pub:ic body
corporate and politic formed and exercising its powers pursuant to the Community
Redevelopment Law of California, Health and Safety Code Section 33000, et seq. (the
"Law"); and
WHEREAS, pursuant to Sections 33334.2 and 33334.6 et seq. of the Law (the
"Affordable ,'-toesing Requirements"), the Agency established the Low and Moderate ~r;ccm, e
Housing Fund ("Housing Fund") to improve, increase and preseNe housing for low and
rnoderate income persons and families available at an affordao!e housing cost (as thoss
terms are defined in the Law and Sections 50052.5 and 500,93 of the FteaF...h and Sa~eb'
Code); aad
WHEREAS, pursuant to the Law, the Agency has a!so est.'-:b!ished se~e:'.:~i fi;nds
separate and distinct from the Housing Fund (the "Non..Hoasir~9
WHEREAS, since the Agency initiaUy was unab!e to set c-b:ic:e the requh'ed amour:t OF
n~oney into the Housing Fund because of programs and 9bligat;c.!i;~ t!'i.~t existe,a
Housir~g Fund was established, pursuant to the Affordable Housing Req,jiremenis,
sF.'ecificaUy Section 33334.6 o1: the Law, the Agency estabSshed a defici.
Resoldtion Nos. 90-10, 90-11, and 90-! 2 so that the obligation cod!d be defer,'e,:l
funded over time; and
WHEREAS, the current amount due ti'~e Housing FL!nd on accoun', of ,'.ha D, efici~
Three Mi!!ion Eight Hundred Sixty Two Thousand Two Hundred Tvzenty Four
($3,862,224.); and
WHEREAS, the Educational Revenue Augmentation FL.!!'~d ,,',,;~s es!abI',si;ed emd
added to the Law, particularly Section 33680, et seq., which prov',sions p!'ovi..':o tibet dui'i,~5
the 1992-93, 1993-1994, and 1994.-1995 Fiscal Years each :edeve;opn~er!i ;~!;an.::y si'l:q~j
allocate to the Educational Revenue A',~grnentation F.jnd fi'orn Non-Fbus:.r!f~ '::ends ar,,
amount determined pursuant to .-7., fom:',.i;a contained ~he..';:4n (~.he "ER..'XF F>ayn-len'.."'): ar:c
WHEREAS, as permittad by He,,?,~tt: and Safety Cede Sec~;',>i", 33t,".,f:','! (b!( 1. ) anc as
suthcrized bV Resoiution ~;o. ARAx g3-3, ~, = Ac=c,~,r v borr~%,,ed 'D~;~ ~,,'1~;or: S~x HLm~FeC
Four l'ho~sand Se';sr~ t4undre~J FE~gh[y Four Do {;ors ($! ,604, "E;."~ )l;'o;n [h;L~ Lzous %' I:' .'.~:.I ts
fL,~C a portion of the ERAF PaymanE mandatsd for F~sc;:?~ ':'e~' i~52!9g.3 acd