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ARA1999-05RESOLUTION NO. ARA 99-5 A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY APPROVING A COOPERATION AGREEMENT WITH THE CITY OF ANAHEIM AND THE ANAHEIM HOUSING AUTHORITY REGARDING THE JEFFREY- LYNNE NEIGHBORHOOD REVITALIZATION AND MAKING CERTAIN FINDINGS IN CONNECTION THEREWITH WHEREAS, the "Jeffrey-Lynne Neighborhood," bounded by 9th Street on the west, Cerritos Avenue on the north, Walnut Avenue on the east, and an Edison utility easement on the south, in the City of Anaheim, consists of approximately 31 acres of medium density housing; WHEREAS, there are approximately 725 dwelling units in the Jeffrey-Lynne Neighborhood, predominantly contained within eight-unit apartment buildings built in the late 1950s and early 1960s; WHEREAS, the Jeffrey-Lynne Neighborhood is physically blighted and suffers from severe overcrowding, a shortage of parking and usable open space, problems with traffic and security, unsanitary and unsafe dwelling units, and considerable deferred maintenance; WHEREAS, the predominant majority of the apartments in the Jeffrey-Lynne Neighborhood are one-bedroom units; WHEREAS, a survey of the residents of the Jeffrey-Lynne Neighborhood has found a substantial need for more family-units consisting of two-, three- and four- bedrooms; WHEREAS, the Anaheim Housing Authority (the "Authority"), the Anaheim Redevelopment Agency (the "Agency"), and the City of Anaheim (the "City") have also found a substantial need in the community for such family units to be available for the long-term at rents affordable to persons and families of very low- and low-income; WHEREAS, in order to address the needs of the Jeffrey-Lynne Neighborhood described above, the Authority is: (a) adopting the "Jeffrey-Lynne Neighborhood Revitalization Plan" (the "Plan"); and (b) entering into that certain Affordable Housing and Neighborhood Revitalization Agreement, dated as of June 15, 1999, with Anaheim Revitalization Partners, L.P. (the "Agreement"); WHEREAS, in order to assist the Authority with implementation of the Plan and Agreement, Agency and City proposes to enter into that certain Cooperation Agreement, dated as of June 15, 1999, with Authority (the "Cooperation Agreement"); F:~DOC SV~DMIN~GENERAL~BRG9608A. DOC