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JAH:dj~ 11/27/89 (001/26) <br /> <br /> .... 0 4 989 0RIGINA <br /> RESOLUTION NO. RD-89-22 <br /> <br /> RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF <br /> REDWOOD CITY, FINDING THAT THE USE OF TAXES ALLOCATED <br /> FROM THE AMENDMENT AREA OF REDEVELOPMENT PROJECT NO. 2 <br /> FOR THE PURPOSE OF IMPROVING AND INCREASING THE <br /> COMMUNITY'S SUPPLY OF LOW AND MODERATE INCOME HOUSING <br /> OUTSIDE THE AMENDMENT AREA AND EXISTING PROJECT AREA <br /> WILL BE OF BENEFIT TO THE AMENDED PROJECT <br /> <br /> WHEREAS, the Redevelopment Agency of the City of Redwood <br />City has prepared a proposed Second Amendment to the <br />Redevelopment Plan for Redevelopment Project No. 2 (the "Second <br />Amendment") which would add area to the existing project area <br />(the "Amendment Area") and would result in the allocation of <br />taxes from the Amendment Area to the Redevelopment Agency of the <br />City of Redwood City for purposes of redevelopment; and <br /> <br /> WHEREAS, Section 33334.2 of the Health and Safety Code <br />requires that not less than 20 percent of all taxes so allocated <br />be used by the Agency for the purpose of improving and increasing <br />the community's supply of low and moderate income housing <br />available at affordable housing cost, unless certain findings are <br />made; and <br /> <br /> WHEREAS, Section 33334.2(g) of the Health and Safety Code <br />provides that the Agency may use such funds outside the Amendment <br />Area and Existing Project Area if a finding is made by resolution <br />of the Agency and the City Council that such use will be of <br /> <br />benefit to the amended Project; <br /> NOW, THEREFORE; <br /> <br /> BE IT RESOLVED BY THE REDEVELOPMENT AGENCY OF THE CITY OF <br />REDWOOD CITY, AS FOLLOWS: <br /> <br /> <br />