Laserfiche WebLink
12/19/2005 <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 />WHEREAS, by becoming a member of HEART, a Member Agency can earn <br />economic benefits not realized when operating individually in connection with workforce <br />and affordable housing programs; and <br />WHEREAS, to become a Member Agency of HEART, the City will need to make <br />a monetary contribution to HEART's Administrative budget (the "Administrative Fee "); <br />and <br />WHEREAS, the Agency desires to pay the aforementioned Administrative Fee <br />on behalf of the City from its Redevelopment Housing Set -Aside Funds; and <br />WHEREAS, although there is no guaranty that HEART will assist projects <br />located within the Agency's Project Area, all projects will be limited to San Mateo <br />County; and <br />WHEREAS, Section 33334.2(g) of the Health & Safety Code authorizes the use <br />of the Agency's Redevelopment Housing Set -Aside Funds to assist affordable housing <br />outside of a project area if the Agency and the City Council determine that the use will <br />be of benefit to the Agency's Project Area. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF REDWOOD CITY AS FOLLOWS: <br />1. The City Council hereby finds and determines that Agency's use of <br />Redevelopment Housing Set -Aside Funds for the payment of the Administrative Fee will <br />Atty /Reso.1579 2 <br />120205 <br />