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ARA1998-04RESOLUTION NO. ARA98-4 A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY HNDING THAT THE PROVISION OF LOW- AND MODERATE-INCOME HOUSING OUTSIDE THE BOUNDARIES OF THE WEST ANAHEIM COMMERCIAL CORRIDORS REDEVELOPMENT PROJECT WILL BE OF BENEFIT TO THE PROJECT WHEREAS, the Anaheim Redevelopment Agency (the "Agency") is proposing to add terntory to the existing Brookhurst Commercial Coredors Redevelopment Project and change said project name to the West Anaheim Commercial Corridors Redevelopment Project (the "Project"); and WHEREAS, in accordance with Section 33334.2(a) of the Community Redevelopment Law (the "CRL"), not less than twenty percent (20%) of all tax increment that is allocated to the Agency from the Project shall be used for the purposes of increasing, improving, and preserving the community's supply of low- and moderate-income housing; and V~IEREAS, CRL Section 33334.2(g) provides that the Agency may use such funds outside the Project upon adoption of resolutions by the Agency and City Council finding that the provision of low- and mederate-income housing outside the Project Area is of benefit to the Project; and WHEREAS, the exact extent of low- and moderate-income housing needs and the future locations of such needs cannot be fully determined at this time; and WHEREAS, the Project Area may not contain sufficient or feasible !and and improvements to accommodate the Project's full provision of low- and moderate-income housing; and WHEREAS, housing which impacts the Project and is suitable for rehabilitavlon for low- and moderate-income families exists outside the Project Area. NOW, THEREFORE, it is hereby resolved by the Anaheim Redevelopment Agency as follows: SECTION 1:. Pursuant to CRL Section 33334.2(g), the Agency hereby finds that the provision of low- and modem[e-income housing outside the boundaries of the Project will be of benefit to the Project. SECTION 2: Pursuant to CRL Section 33334.2(g), the Agency hereby authorizes the use of low- and moderate-income housing funds outside the boundaries of the Project. APPROVED AND ADOPTED this 5th SECRETARY dayof Apr~, 1998. FNDOC:S'~EVSVC~'~a.~OL~8424C. DOC