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� � <br /> RESOLUTION NO. <br /> RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br /> REDWOOD CITY AUTHORIZING THE EXPENDITURE OF HOUSING <br /> SET-ASIDE FUNDS FOR CONTRIBUTION TO THE ADMINISTRATIVE <br /> BUDGET OF THE HOUSING ENDOWMENT AND REGIONAL TRUST <br /> OF SAN MATEO COUNTY <br /> WHEREAS, the Redevelopment Agency of the City of Redwood City (the <br /> "Agency") has prepared a Redevelopment Plan (the "Redevelopment Plan") which <br /> allocates taxes from its Project Area to the Agency pursuant to Health & Safety Code <br /> Section 33670, for the purposes of Redevelopment; and <br /> WHEREAS, Sections 33334.2 and 33334.3 of the Health & Safety Code require <br /> the Agency to use twenty percent (20%) of the taxes allocated from its Project Area to <br /> the Agency for the purpose of increasing, improving, and preserving the community <br /> supply of low and moderate income housing ("Redevelopment Housing Set-Aside <br /> Fund"); and <br /> WHEREAS, the City of Redwood City (the "City") is seeking to become a <br /> Member Agency to the joint powers authority known as the Housing Endowment and <br /> Trust of San Mateo County ("HEART"); and <br /> WHEREAS, HEART was established to support and generate programs and <br /> funding resulting in permanent additions to the workforce and affordable housing stock <br /> within San Mateo County; and <br /> WHERAS, among its activities, HEART facilitates the acquisition, construction, <br /> financing, operation and maintenance of housing programs, projects and facilities by its <br /> Member Agencies; and <br /> Atty/Reso.1580 1 <br /> 120205 <br />