AgdaPkt 2004-12-13 - Laserfiche WebLink

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, ,2 ■ Replacement housing requirements (Section 33413) • Twenty percent (20%) housing fund requirements (Section 33334.2) ■ Housing fund expenditure targeting requirements (Section 33334.4) In 1991, the California State Legislature adopted Assembly Bill 315, which added Subsection 33413(b)(4) to the State Health and Safety Code. AB 315 requires each redevelopment agency to adopt a plan demonstrating how the agency will comply with the affordable housing production requirements of the Code. The plan is often referred to as an AB 315 Plan. In 1993, the Legislature adopted Assembly Bill 1290, a comprehensive redevelopment reform bill. One of the key provisions is the requirement that each agency prepare and adopt an overall Implementation Plan. The Implementation Plan incorporates the AB 315 requirements for the housing portion of redevelopment activities and establishes a time frame and process for the plan as a whole. AB 1290 also specifies additional requirements with respect to housing production compliance and expenditures of the Agency's Low- and Moderate-Income Housing Fund monies. As with existing law, AB 1290 also requires that the Plan be consistent with the City's Housing Element, which has its own time line for adoption and amendment. In 2002, two new pieces of legislation, Assembly Bill 637 and Senate Bill 211 were added to the Community Redevelopment Law. AB 637 changes the redevelopment agency affordable housing production, replacement housing, and Low- and Moderate-Income Housing Fund requirements. SB 211 established a simplified procedure to eliminate debt incurrence time limits for pre-1994 plans, allowed amendments to redevelopment plans to extend plan effectiveness/tax increment receipt deadlines for pre-1994 plans, and required that certain affordable housing obligations be met by the end of the redevelopment plans. Due to several inconsistencies created by these two pieces of new legislation in the Community Redevelopment Law, a third piece, Senate Bill 701, was adopted in 2003 to "clean up" and clarify many of the confusion created by AB 637 and SB 211, and to make some additional changes to the Redevelopment Law. This section, therefore, is the Redwood City Redevelopment Agency's AB 315 Plan as well as the housing portion of the Agency's AB 1290 Implementation Plan, updated with the changes required by the three pieces of newly-adopted legislation, AB 637, SB 211 and SB 701. Per AB 315 and as amended by SB 637, the Agency is required to meets it housing production requirements during each specific ten year period (from January 1, 2005 to December 31, 2014). Per SB 701, the Agency actually has an initial 13-year compliance period (from January 1, 2002 to December 31, 2014) to meet its first round of Housing Fund targeting requirements. Under the provision, 2014 becomes the ending date for compliance with both sets of requirements. Keyser Marston Associates, Inc. 18610.001\030-003; 12/6/2004; DRAFT �8