AgdaPkt 2009-12-14 - Laserfiche WebLink

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7C age 1 December 14, 2009 SUB.�EC�r Five-Year tmpiementation Plan 2010-2014 for the Redwood City Redeveiopment Projec# No. 2. REC(?MMENDATiON 1, 1n accordance with Article 16.5 of the California Redevelopmen# taw, Section 33490, conduct a Public Hearing to receive testimony on the propa for . Implementation Pian for the period January 20'i 0 through December 2014 Redwood City �edevelopment Pro�ect No. 2. 2. Adapt, by motion, the Zo�o-2014 [mplementation Plan for Redwood City Redevelopment Project Area No. 2. �3ACKGROUND The Impiementation Plan has been prepared pursuant to the requirements o� Section 33490 of the California Redevelopment Law (CRL). lncluded in the regula#ion �$�ve requirement thafi an implementation plan be prepared for all pro�ect areas every years. This plan is intended to fulfili tha# requirement, to serve as a multi-year planning vehicle for projects in Redwood City .Redevelopment Project No. 2 (refer to attacne�d map), and to articulate the iink befi+veen the projects undertaken and the al1eviat�a blight in the Project Area. Pursuant to Section 33490, the Agency must adopt an Implementation Plan for the period of January 1, 2Q10 through December 3'i, 2014 by no later than December 31, 2009. The key requirements, which this Implementation P�an addresses, are: • A description of the Agency's specific housing and non-housing related goals and objectives for the project area, including specific programs, possible proje�ts and, expenditures for the next five years, • A description of how these goals, objectives, programs and expenditures will alleviate blight. • • A description of how these goals, objectives, programs and expenditures will implement the CRL's requirements regarding the deposit of funds into #he Low and Moderate income Housing Fund, the production of deed-restricted affvrdable housing units, and targeting the expenditures of the �ow/Moderate Housing F�nd proportionate to the Gity's regionai housing needs. . Proposed locations suitable for replacemen# housing units in instances where plan acti�ities firigger the need for such units. Summary The Implementation Plan demonst�ates that the Redwood City Redevelopment Project No. 2 is in full compliance with all of the regulations of Section 33490 of the CRL.