Loading...
ARA1990-12RESOLUTION NO. ARA90-12 A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY ESTABLISHING AN INDEBTEDNESS OF PROJECT ALPHA FOR THE 1987--1988 FISCAL YEAR CONCERNING THE LOW AND MODERATE INCOME HOUSING FUND; AND FINDING AND DETERMINING THAT LESS THAN TWENTY PERCENT (20%) OF THE TAXES ALLOCATED TO THE AGENCY PURSUANT TO HEALTH AND SAFETY CODE SECTION 33670 IS THE AMOUNT OF THE INDEBTEDNESS HEREBY ESTABLISHED BECAUSE THE REQUIREMENTS OF HEALTH AND SAFETY CODE SECTION 33334.2(a)(3) HAVE BEEN MET WHEREAS, the Anaheim Redevelopment Agency is a community redevelopment agency organized and existing under the Community Redevelopment Law, Health and Safety Code Section 33000 et seq. (the "Act"); and WHEREAS, the City Council of the City of Anaheim adopted the Redevelopment Plan for the Alpha Redevelopment Project on July 19, 1973 by Ordinance No. 3190, and as said plan was first amended by the City Council on July 20, 1976 by Ordinance No. 3567, and as said plan was second amended by the City Council on November 30, 1976 by Ordinance No. 3631, and as said plan was third amended by the City Council on January 5, 1982 by Ordinance No. 4300; and WHEREAS, the Anaheim Redevelopment Agency is engaged in activities necessary and appropriate to carry out such redevelopment plan for Project Alpha; and WHEREAS, pursuant to Section 33334.6 of the Act, the Agency was required to establish a Low and Moderate Income Housing Fund ("Housing Fund") for such redevelopment Project Alpha for the Fiscal Year 1985-1986 and for each fiscal year thereafter, and to deposit into said Housing Fund not less than twenty percent (20%) of the tax increment funds allocated to the Agency for the Project Alpha in the applicable fiscal year, except as necessary to make payments under existing obligations of-amounts due or required to be committed,.set aside, or reserved by the Agency during that fiscal year in order to provide for the orderly and timely completion of public and private projects, programs or activities approved by the Agency prior to January 1, 1986; and WHEREAS, the Agency has previously by Resolution No. 86-22 duly adopted its Statement of Existing Obligations and Statement of Existing Programs for Redevelopment Project Alpha pursuant to subdivision (f) of SecEion 33334.6; and WHEREAS, the Agency determined by Resolution 88-18 that it is necessary to deposit into the Housing Fund for Redevelopment Project Alpha in Fiscal Year 1987-1988, less than the amount otherwise required by subsection (c) of Section 33334.6, in order to permit the Agency to make payments under existing obligations contained on the Agency's Statement of Existing Obligations and to provide for the orderly and timely completion of the public and private projects, programs or activities contained on the Agency's Statement of Existing Programs; and WHEREAS, pursuant to subsection (g) of Section 33334.6, if pursuant to subdivision (d) or (e) of said section, the Agency deposited less than twenty percent (20%) of the taxes allocated to the Agency pursuant to Section 33670 in any fiscal year in the Housing Fund, the amount equal to the difference between the percentage of taxes required to be set aside and the amount deposited that year shall constitute a deficit of the Project and be established as an indebtedness of the Redevelopment Agency: and WHEREAS, pursuant to subsection (c) of Section 33334.6 and subsection (a)(3) of Section 33334.2, an Agency may deposit less than twenty percent (20%) of the taxes which are allocated to the Agency pursuant to Section 33670 for the purposes of increasing, improving and preserving the community's supply of low and moderate income housing available at affordable housing cost as defined by Section 50052.5, to persons or families of low or moderate income as defined in Section 50093, and very low income households as defined as Section 50105, if it is found that the community is making a substantial effort to meet its existing and projected housing needs, including its share of regional housing needs, with respect to persons and families of low and moderate income, particularly very low income households, as identified in the Housing Element of the Community's General Plan required by Article 10.6 (commencing with Section 65580) of Chapter 3 of Division 1, of Title 7 of the Government Code, and that this effort, consisting of direct financial contributions of local funds used to increase, improve and preserve the supply of housing affordable to persons and families of low or moderate income and very low households, is equivalent in impact to the funds otherwise required to be set aside pursuant to Section 33334.2 and Section 33334.6; and WHEREAS, in ~ddition to-any other local funds, the direct financial contributions heretofore described may include federal or state grants paid directly to a community in which the community has the discretion of using for the purposes for which moneys in the Housing Fund may be used; and WHEREAS, the Agency intends by this Resolution to find that in the 1987-1988 Fiscal Year the community made such a substantial effort to meet its existing and projected housing 1/3/90 7715n/2621/07 needs, including its share of regional housing needs with respect to persons and families of low and moderate income through direct financial contributions of local funds used to increase and improve the supply of housing affordable to persons and families of low and moderate income such that for purposes of establishing the heretofore described deficit of the Agency, a percentage less than twenty percent (20%) of all taxes which were allocated to the Agency pursuant to Section 33670 may be determined; and WHEREAS, for the fiscal year 1987-1988, the Agency expended $2,882,177.00 of direct contributions of local funds to increase and improve the supply of housing affordable to persons and families of low and moderate income in equivalent impact to the funds otherwise required to be set aside pursuant to Section 33334.2 and Section 33334.6 for the purposes and in the amounts described in Exhibit "A" to this Resolution; and WHEREAS, the programs and expenditures described in Exhibit "A" to this Resolution are hereby incorporated by this reference as if fully set forth in this Resolution; and WHEREAS, the programs and expenditures described in Exhibit "A" to this Resolution evidence the expenditure of $2,882,177.00 of local funds to increase and improve the supply of housing affordable to persons and families of low and moderate income; and WHEREAS, twenty percent (20%) of the taxes allocated to the Agency pursuant to Section 33670 for the Fiscal Year 1987-1988 is the amount of $3,514,000.00; and WHEREAS, the Agency desires by this Resolution to establish for the Fiscal Year 1987-1988 the amount of $631,823.00 as a deficit of the Agency and an indebtedness thereof which deficit shall be funded and thereafter used by the Agency for purposes of increasing, improving and preserving the community's supply of low and moderate income housing available at affordable housing cost; and WHEREAS, the indebtedness created by this Resolution shall constitute an indebtedness of the Agency with respect to the Redevelopment ~oject Alpha until paid'in full; and WHEREAS, the Agency intends by this Resolution after establishing said indebtedness to authorize the Agency Treasurer and Executive Director to take the steps necessary to establish the amount of the indebtedness for the 1987-1988 Fiscal Year and all other steps necessary to carry out the requirements of Section 33334.6. 1/3/90 7715n/2621/07 NOW, THEREFORE BE IT RESOLVED by the Anaheim Redevelopment Agency as follows: 1. As determined by Agency Resolution No. 88-18 due to existing programs and existing obligations, the Agency has deposited less than twenty percent (20%) of the taxes allocated to the Agency pursuant to Section 33670 for the 1987-1988 Fiscal Year into the Low and Moderate Income Housing Fund; and 2. The Agency has made a substantial effort to meet its existing and projected housing needs, including its share of regional needs, with respect to persons and families of low and moderate income, particularly very low income households, as identified in the Housing Element of the Community's General Plan required by Article 10.6 (commencing with Section 65580) of Chapter 3 of Division 1, of Title 7 of the Government Code, and that this effort consisted of direct financial contributions of $2,882,177.00 of local funds which were used to increase and improve the supply of the housing affordable to persons and families of low or moderate income and very low income households in equivalent impact to the fund otherwise required to be set aside pursuant to Section 33334.2 and Section 33334.6 for the programs described and the expenditures listed in Exhibit "A" to this Resolution; and the Agency finds that an amount of $2,882,177.00, as more fully described in Exhibit "A" to this Resolution, shall be deducted from $3,514,000.00, an amount equivalent to twenty percent (20%) of all taxes which were allocated to the Agency pursuant to Section 33670 for the 1987-1988 Fiscal Year, and the balance after such deduction, $631,823.00, shall be established as a deficit of the Agency and an indebtedness of Project Alpha pursuant to Section 33334.6 and when funded by the Agency shall be used for the purposes of increasing, improving and preserving the community's supply of low and moderate income housing available at affordable housing cost as defined by Section 50052.5, to persons and families of low and moderate income as defined in Section 50093, and very low income households as defined in Section 50105.; and 3. The Agency hereby authorizes and directs the Agency Treasurer and the Agency Executive Director (or their designees) to take the steps necessary to evidence the indebtedness of Project Alpha created by this Resolution; and said indebtedness of the redevelopment Project Alpha will be repaid from taxes allocated to the Agency pursuant to Section 33670 through a plan to be established by the Agency; and said indebtedness shall 1/3/90 7715n/2621/07 constitute an indebtedness of the Redevelopment Agency with respect to the redevelopment Project Alpha until paid in full. The foregoing Resolution was regularly introduced and adopted at a meeting of the Anaheim Redevelopment Agency, duly held on the 20thday of March , 19 9~ PASSED, APPROVED AND ADOPTED ON THIS 20thday of March , 1990 STAT~ O~ C~L~O~I~ CO~TY o~ o~~~ ss c~ o~ ~~ I, ~,0F'~,~~ , Secretary of the ~aheim Redevelopment Agency ~ereby certify that the above and foregoing Resolution No.~was duly and regularly passed and adopted by the ~gency. at a regular meeting thereof, held on the a/5~day of -~CA , 19~. IN WIT~SS ~E~OF, I have hereunto set my .hand and affixed the Seal of the Agency this ~/5~day of ~~~ ' 19~O. Secretary of the Agency 1/3/90 7715n/2621/07 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) CITY OF ANAHEIM ) I, LEONORA N. SOHL, Secretary of the Anaheim Redevelopment Agency, do hereby certify that the foregoing Resolution No. ARAgO-12 was passed and adopted at a regular meeting of the Anaheim Redevelopment Agency held on the 20th day of March, 1990, by the following vote of the members thereof- AYES' AGENCY MEMBERS' Daly, Ehrle, Kaywood and Hunter NOES' AGENCY MEMBERS' None ABSENT' AGENCY MEMBERS' Pickler AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment Agency signed said Resolution on the 21st day of March, 1990. IN WITNESS WHEREOF, I have hereunto set my hand and seal this 21st day of March, 1990. SECRETARY OF THE ANAHEIM REDEVELOPMENT AGENCY (SE^L) EXHIBIT "A" 20% SET ASIDE EXPENDITURES - RECAP: 1987-88 · · · Loan Program Relocation Affordable Homeownership Total: $1,918,206 586,248 377,723 $2,882,177 PROGRAM DESCRIPTIONS AND EXPENDITURES OF EOUIVAI.ENT IMPACT FUNDS FOR 20% SET ASIDE OFFSET The following are program descriptions and expenditures funded out of City of Anaheim and Anaheim Housing Authority discretionary funds used to improve and increase housing for persons and families of low and moderate income. A. LOAN PROGRAMS: Loans are available to income eligible an~ qualified property owners who are making needed improvements to their property or homes. The program is administered by the Neighborhood Preservation Office staff who provide counseling, financial assistance, and project coordination during the construction period. Direct Loans: Direct loans are available to income eligible borrowers to finance the repair and improvement of properties with substandard housing conditions. Through this program, the City makes funding available for residential rehabilitation financing at below-market rate costs. This loan program is open to both single family property owners and multi-family property owners. These direct loans are available citywide with interest rates dependent upon income, area, and family size. Loan packaging and contractor payments are administered by the Neighborhood Preservation Office staff. 2. Rehab Loans (Pay Back): Funds which have been provided to property owners in the form of direct loans that are subsequently repaid are "recycled" and again made available to eligible applicants to rehabilitate residential property. The eligibility criteria used is the same as for other Neighborhood Preservation Office loans. 3. Deferred Loans: This is a loan made by the City to an income eligible and qualified applicant to remedy uniform code deficiencies in the applicant's residential structure. The loan is due and payable at the end of a five (5) year term unless the applicant is unable to refinance it through market lenders. In such cases the City will renew the loan for another five (5) year 02/26/90 8424n/2621/07 2 period. Loans to heads of households sixty (60) years of age or older may be deferred until the property is sold or title of ownership is transferred. 4. Tool Bank: Under the Tool Rental Assistance Program tools are made available to income eligible homeowners in specific target areas. 5. Rebates: Qualified applicants for this Program may be reimbursed up to fifty percent (50%) of home repair costs spent by a low to moderate income owner for home improvements in specific target areas. Funding Source: Community Development Block Grant (CDBG) Expenditures: _ Source Fiscal Yr YTD Total Benefit!/ CDBG 87/88 $1,918,206 120% and below median B. RELOCATION ADVISORY ASSISTANCE: The City of Anaheim contracts with one or more professional consultants to provide advisory assistance to individuals and families who are impacted or displaced due to an activity that is assisted with federal funds and such impact or displacement triggers the provisions of the Uniform Relocation Act and Section 570.606 of the CDBG regulations. Fundinq Sources: CDBG and Housing Authority Administrative Reserve l/ Very Low Income - 50% or below of median income Low Income - 80% or below of median income Moderate Income - 120% or below of median income 03/12/90 8424n/2621/07 -3- Program: Chevy Chase/Park Vista: Public-Private Rehabilitation Project of three hundred eighty-four (384) rental units located on ninety-four (94) contiguous parcels which reguired acguisition, rehabilitation and relocation by Developer. Relocation of tenants reguired due to severe overcrowding. Services provided by Consultants included assistance in locating replacement housing, assistance in applying for Section 8 Housing Program, translation services and transportation needs in selecting replacement unit. The completed development project created ninety-eight (98) affordable units which are restricted for thirty (30) years. Expenditures: .Source Fiscal Yr YTD Total Benefit CDBG 87/88 $ 67,930 80% and below C. RELOCATION PAYMENT BENEFITS: Relocation payment benefits are provided to eligible individuals and families as required by the Federal Uniform Relocation Act of 1970, as amended. Funding Sources: CDBG and Housing Authority Administrative Reserve Program: Chevy Chase/Park Vista: Public-Private Rehabilitation Project of three hundred eighty-four (384) rental units located on ninety-four (94) contiguous parcels which required acquisition, rehabilitation and relocation by Developer. The Housing Authority and the City used their discretionary Administrative Reserve funds and CDBG funds in the form of a loan to the Developer, to make available and provide the following relocation benefits to impacted and displaced tenants. As required by the Federal Uniform Relocation Act of 1970, as amended, relocation benefits were provided to all displaced families and individuals residing in buildings subject to the Uniform Act.~/ Although legislation did ~/ Buildings controlled by the Developer were not subject to the requirements of the Uniform Act. 02/26/90 8424n/2621/07 -4- not mandate specific benefits for people displaced from privately controlled housing, at the start of the project, the City, Housing Authority and the Developer agreed to pay comparable relocation benefits to all those who qualified as displacees. This program created ninety-eight (98) units of housing available to low income persons at an affordable housing cost for a thirty (30) year term. Relocation Benefits included: Actual Moving Expenses or'a Fixed Moying Allowance of up to $500. Individually determined Rental Assistance Payments (RAPs) for a period of forty-eight (48) months, based on the difference between current rent and the lesser of market rent or new rent. RAPs are paid on a monthly basis, over a forty-eight (48) month period, not in lump sums, due to project cost constraints and preference of community groups. Section 8 Certificate or Voucher assistance for eligible households. An allowance of up to $4,000 to assist relocating families to purchase a home, when they meet external financing criteria, and have a minimum of $2,000 to invest. Preference to dlsplacees with respect to all affordable units, for sale or rent, in the City of Anaheim. Resident families with the appropriate household size, if income eligible, were eligible to remain in the project and receive Section 8 assistance. Expenditures: Source Fiscal Yr YTD Total Benefit AHA-Reserves 87/88 $518,318 Tenants - 80% and below D. AFFORDABLE HOMEOWNERSHIP PROGRAM: Patt Street Construction: The Housing Authority purchased land for the development and implementation of an Affordable Homeownership Program. The Housing Authority assists low to moderate income applicants with the purchase of an affordable unit who are first-time home buyers. 02/26/90 8424n/2621/07 -5- Funding Source: Housing Authority Administrative Reserve Expenditures: Source Fiscal Yr YTD Total AHA 87/88 $377,723 Benefit Homeownership - 120% and below 02/26/90 8424n/2621/07 6