Resolution - 9029RESOLUTION NO. 9029
• RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WEST COVINA FINDING THAT THE USE OF TAXES
ALLOCATED FROM THE CENTRAL BUSINESS
DISTRICT REDEVELOPMENT PROJECT AND
EASTLAND REDEVELOPMENT PROJECT
MERGER/AMENDMENT FOR THE PURPOSE OF
HOUSING OUTSIDE THE PROJECT AREA WILL BE OF
BENEFIT TO THE PROJECT
WHEREAS, the Redevelopment Agency of the City of West Covina (the "Agency")
has prepared a proposed Redevelopment Plan (the "Plan") for the Central Business District
Redevelopment Project and Eastland Redevelopment Project Amendment/Merger (the
"Project"); and
WHEREAS, the Plan provides for the allocation of taxes from the Project Area (the
"Project Area") to the Agency pursuant to Section 33670(b) of the California Community
Redevelopment Law (California Health and Safety Code Section 33000, et seq.); and
WHEREAS, Sections 33334.2 and 33487 of the Community Redevelopment Law
require that no less than twenty percent (20%) of all taxes so allocated be used for the
purpose of improving and increasing the community's supply of low- and moderate -income
housing available at affordable housing cost; and
WHEREAS, Sections 33334.2(g)and 33487(b) of the Community Redevelopment Law
provide that such funds may be used outside a 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, BE IT RESOLVED by the City Council of the City of West
Covina as follows:
1. 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 costs outside the Project Area and within the City of West Covina will be
of benefit to the Project.
2. The City Clerk of the City of West Covina shall certify to the adoption of this
resolution.
• ATTEST:
ADOPTED on this 19th day of October , 1993.
City Cler
Resolution No. 9029
October 19, 1993
Page Two
I HEREBY CERTIFY that the foregoing Resolution No. 902q was duly
adopted by the City Council of the City of West Covina at a regular meeting thereof held on
the 19th day of October , 1993 by the following vote:
AYES: Herfert, Manners, McFadden, Jennings
NOES: None
ABSENT: None
ABSTAIN: Wong
APPROVED AS TO FORM:
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