RES 89085 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 89-85 RESOLUTION FINDING THAT THE USE OF TAXES AT~OCATED FROM THE DOWNTOWN REDEVELOPMENT PROJECT FORT HE PURPOSE OF IMPROVING AND INCREASING THE COMMUNITY'S SUPPLY OF LOW- AND MODERATE-INCOME HOUSING OUTSIDE THE PROJECT AREA WII2. BE OF BENEFIT TO THE PROJECT WHEREAS, the Pleasanton Community Development Agency (the "Agency") has prepared a proposed Redevelopment Plan (the "Redevelopment Plan") which would result in the allocation of taxes from the Project Area to the Agency for the purposes of redevelopment; and WHEREAS, Section 33334.2 of the California Community Redevelopment Law (Health and Safety Code Section 33000 et seq.) requires that not less than twenty percent (20%) of all taxes so allocated be used by the Agency for the purpose of improving and increasing the community's supply of low- and moderate-income housing available at affordable housing costs; and WHEREAS, Section 33334.2(g) of the Health and Safety Code provides that the Agency may use such funds outside the Project Area if a finding is made by resolution of the Agency and the City Council that such use will be of benefit to the Project; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: The City Council finds that the use of taxes allocated from the Project Area for the purpose of improving and increasing the community's supply of low- and moderate-income housing available at affordable housing cost outside the Project Area and within the City of Pleasanton will be of benefit to the Project. Section 2: This resolution shall become effective immediately upon its passage and adoption.