ARA-2006-013RESOLUTION NO. ARA 2006 -013
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY
APPROVING A COOPERATION AGREEMENT BETWEEN THE
ANAHEIM REDEVELOPMENT AGENCY AND ANAHEIM
HOUSING AUTHORITY; CONSENTING TO THE AFFORDABLE
HOUSING AGREEMENT BETWEEN THE HOUSING AUTHORITY
AND ELM STREET COMMONS, A CALIFORNIA LIMITED
PARTNERSHIP; AND MAKING CERTAIN OTHER FINDINGS
WHEREAS, the City of Anaheim ( "City ") is a California municipal corporation; and
WHEREAS, the Anaheim Housing Authority ( "Authority ") is a public body, corporate and
politic and is duly organized and validly existing under the Housing Authorities Act, California
Health & Safety Code Section 34240, et seq., and all successor statutes and implementing regulations
thereto ( "Act "); and
WHEREAS, the Anaheim Redevelopment Agency ( "Agency ") is a community
redevelopment agency duly organized and existing under the California Community Redevelopment
Law, Health and Safety Code Section 33000, et seq., ( " Act ") and has been authorized to transact
business and exercise the power of a redevelopment agency pursuant to action of the City Council
( "City Council ") of the City of Anaheim; and
WHEREAS, the Amended and Restated Redevelopment Plan for the Anaheim Merged
Redevelopment Project was adopted by the City Council of the City of Anaheim by Ordinance Nos.
5913, 5914, 5915, 5916, 5917, 5918, and 6034; and
WHEREAS, Agency receives tax increment revenues pursuant to Section 33670(b) of the
Act and is required to deposit not less than thirty percent (30 %) of the tax increment revenues
allocated to Agency into Agency's Low and Moderate - Income Housing Fund ( "Housing Fund ")
pursuant to Sections 33333.10, 33333.11, 33334.2 and 33334.6 of the Act and to use such funds in
order to increase, improve, and preserve the community's supply of low and moderate - income
housing available at an affordable housing cost; and
WHEREAS, Agency is authorized and empowered under the Act to provide funding for the
production, improvement, or preservation of affordable housing including the construction of new
privately owned apartments and appurtenant improvements with tax increment revenues from the
Agency's Housing Fund; and
WHEREAS, in furtherance of Agency's and Authority's objective to expand and improve
the supply of affordable housing for Very Low Income Households and Low Income Households, to
develop viable urban communities by providing decent housing and a suitable living environment,
and to expand economic opportunities for persons of Low and Very Low Income, Authority will be
allocated funds from the Housing Fund pursuant to the Cooperation Agreement between Authority
and Agency (attached to this resolution) and desires to expend these funds for the Project and the
implementation of the Agreement described herein; and
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WHEREAS, Authority is empowered to enter into agreements and to carry out affordable
housing projects and programs benefiting Very Low Income and Low Income persons, families, and
households; and
WHEREAS, the City and Authority is currently implementing a coordinated multi -year
strategy for affordable housing as approved in the 2005 -2009 City of Anaheim Consolidated Plan
( "Consolidated Plan "), and a program of acquisition and rehabilitation of existing multi - family rental
housing, including senior housing, in certain target areas in the community ( "Program "); and
WHEREAS, Authority and Elm Street Commons, a California Limited Partnership
( "Developer ") previously entered into certain Exclusive Negotiating Agreement relating to the
acquisition and construction of a 52 -unit multi - family affordable housing development called Elm
Street Commons ( "Project "); and
WHEREAS, the Project is proposed to be constructed and developed on certain real property
located at I I1 -125 West Elm Street, Anaheim, California ( "Site "), which Site is also located within
the Commercial /Industrial constituent project area of the Anaheim Merged Project Area; and
WHEREAS, Authority staff and the Developer have negotiated the terms and conditions for
the construction and development and long term operation of a 52 -unit multi - family affordable
housing project ( "Project ") as set forth in the Affordable Housing Agreement ( "Agreement "); and
WHEREAS, capitalized terms in this Resolution are defined in the Agreement, unless
otherwise defined in this Resolution; and
WHEREAS, pursuant to the Agreement Authority (and Agency through the Cooperation
Agreement) will provide financial assistance to Developer for the Project through a residual receipts
loan of up to Three Million Seven Hundred Fifty Thousand Dollars ($3,750,000), all of which will be
funded from the Agency's Housing Fund, or as much as is disbursed in accordance with the
Agreement; and
WHEREAS, all fifty -two (52) Housing Units will be covenanted for and occupied by Very
Low and Low Income Households at an Affordable Rent for the fifty five year Affordability Period;
and
WHEREAS, Agency desires pursuant to a Cooperation Agreement between Agency and
Authority to transfer Housing Fund monies to Authority for the Project ( "Cooperation Agreement ");
and
WHEREAS, in addition to and concurrent with its action consenting to the Agreement,
Agency desires to approve the Cooperation Agreement by this Resolution; and
WHEREAS, Agency's financial participation in the Project will be in the public interest in
that it will increase affordable housing and implement the Agency's Implementation Plan and
Inclusionary Plan and will meet goals and objectives of the City's Consolidated Plan; and
WHEREAS, the Agency has duly considered all terms and conditions of the proposed
Cooperation Agreement and has reviewed the Affordable Housing Agreement and believes the
Project and these agreements are in the best interests of the City and the health, safety, and welfare of
its residents, and in accord with the public purposes and provisions of applicable federal, state and
local law requirements; and
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NOW, THEREFORE, BE IT RESOLVED by the Governing Board of the Anaheim
Redevelopment Agency as follows:
Section 1. Pursuant to Resolution No. PC2006 -52 the findings relating to the Project
required by and pursuant to the California Environmental Quality Act, California Public Resources
Code Section 21000, et seq. ( " CEQA ") were made as set forth in said resolution. The Agreement
and Cooperation Agreement are financing agreements under CEQA and such agreements will
facilitate implementation of the Project approved by Resolution No. PC2006 -52 and were
contemplated as a part of the Project considered and approved by Resolution No. PC2006 -52,
including all necessary CEQA findings.
Section 2. Agency approves the Cooperation Agreement between the Agency and
Authority, with such changes mutually agreed upon by the Authority Executive Director
(or designee) and the Agency Executive Director (and/or the City Manager (or designee)), and legal
counsel as are minor and in substantial conformance with the form of the Cooperation Agreement
that has been submitted with this Resolution. The Chairman and Secretary are authorized to execute
and attest the Cooperation Agreement, including implementing documents, on behalf of Agency. In
such regard, the Agency Executive Director (or designee) is authorized to cause the Chairman and
Secretary to sign the final version of the Cooperation Agreement after completion of such
non - substantive, minor revisions, if any. Copies of the final form of the Cooperation Agreement,
when duly executed and attested, shall be placed on file in the office of the City Clerk. Further, the
Agency Executive Director (or designee) is authorized to implement the Cooperation Agreement and
take all further actions necessary to carry out the Cooperation Agreement. The Agency Executive
Director (or designee) is authorized to the extent necessary during the implementation of the
Cooperation Agreement to make technical or minor changes after execution, as necessary to properly
implement and carry out the Cooperation Agreement, provided the changes shall not in any manner
materially affect the rights and obligations of the Agency.
Section 3. Agency consents to the Affordable Housing Agreement between the Anaheim
Housing Authority and Elm Street Commons, a California Limited Partnership.
Section 4. The Agency Secretary shall certify to the adoption of this Resolution.
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APPROVED AND ADOPTED this 12"' day of December June, 2006 by the following roll
call vote:
AYES: 4
NOES: 0
ABSENT: 0
ABSTAIN: 1
AUTHORITY MEMBERS: Chairman Pringle, Authority Members
Sidhu, Hernandez, Galloway
AUTHORITY MEMBERS:
AUTHORITY MEMBERS:
AUTHORITY MEMBERS: Authority Member Kring
AN IM REDEVEJA 4ENT AGENCY
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APPROVED AS TO FORM:
JACK
ATTORNEY
John dheaJ
Assistant City Attorney
APPROVED AS TO FORM:
STRADLING YOCCA CARLSON & RAUTH
Special Counsel
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ATTACHMENTS TO RESOLUTION
ATTACH COPIES OF
FINAL AFFORDABLE HOUSING AGREEMENT
AND FINAL COOPERATION AGREEMENT
DOCSOCn20002sv1 /022621 -o12c