ARA1999-01RESOLUTION NO. ARA99-1
A RESOLUTION OF THE ANAHEIM REDEVELOPMENT AGENCY
AGREEING TO PARTICIPATE IN THE 1999 MORTGAGE CREDIT
CERTIFICATE PROGRAM OF THE COUNTY OF ORANGE,
AUTHORIZING THE COUNTY OF ORANGE TO APPLY, ON BEHALF
OF THE AGENCY, TO THE CALIFORNIA DEBT LIMIT ALLOCATION
COMMITTEE FOR AN ALLOCATION OF AUTHORITY TO ISSUE
MORTGAGE CREDIT CERTIFICATES, AUTHORIZING THE
TRANSFER OF SUCH ALLOCATION TO THE COUNTY OF ORANGE
AND AUTHORIZING AND TAKING CERTAIN OTHER ACTIONS IN
CONNECTION THEREWITH.
WHEREAS, there is a shortage in the County of Orange (the "County") and in the City
of Anaheim (the "City") of decent, safe and sanitary housing, particularly of housing affordable
to first-time home buyers, and a consequent need to encourage the availabilib' of homes
aftbrdable to such persons and otherwise to increase the housing supply in the Cib' and in the
County for such persons: and
WHEREAS, the Board of Supervisors of the County has established a mortgage credit
certificate program (the "Program") pursuant to Part 5 of Division 3 1 of the Health and Safety
Code of the State of California (the "Act") for the purpose of issuing mortgage credit certificates
pursuant to the Act to provide funds for the Program; and
WHEREAS, the Anaheim Redevelopment Agency (the "Agency") has previously found
and determined that the redevelopment project areas of the Agency will be benefited by the
operation of the Program both within and without the redevelopment project areas of the Agency,
but within the boundaries of the City; and
WHEREAS, the Agency has previously Ibund and determined that it is in the best
interest of the Agency to participate in the Program and to consent to the operation of the
Program by the County both within and without the boundaries of the redevelopment project
areas of the Agency. but within the boundaries of the City; and
WHEREAS, the Agency and the City have previously entered into a Cooperative
Agreement with the County to permit the operation by the County of the Program within the
boundaries of the City; and
WHEREAS, Section 146 of the Internal Revenue Code of 1986, as amended (the
"Code"), limits the amount of mortgage credit certificates that may be issued in any calendar year
by entities within a state and authorizes the governor or the legislature of such state to provide
the method of allocation within such state; and
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