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HomeMy WebLinkAboutCC Resolution 12499 (Purchase BMR)RESOLUTION NO. 12499 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL APPROVING A $70,000 EXPENDITURE BY THE REDEVELOPMENT AGENCY OF THE CITY OF SAN RAFAEL TO MARIN HOUSING FOR THE ADMINISTRATION OF THE BELOW MARKET RATE OWNERSHIP PROGRAM AND MAKING FINDINGS AND APPROVALS PURSUANT TO THE CALIFORNIA REDEVELOPMENT LAW IN CONNECTION WITH THE UTILIZATION OF AGENCY LOW AND MODERATE INCOME HOUSING FUNDS OUTSIDE THE CENTRAL SAN RAFAEL REDEVELOPMENT PROJECT AREA WHEREAS, the City Council (the "City Council") of the City of San Rafael (the "City") has adopted and amended, from time to time, the Redevelopment Plan (the "Redevelopment Plan") for the Central San Rafael Redevelopment Project Area (the "Project Area"); and WHEREAS, the Redevelopment Agency of the City of San Rafael (the "Agency") is responsible for administering the Redevelopment Plan to cause redevelopment of the Project Area, including the provision of housing available at affordable housing cost to low and moderate income households; and WHEREAS, the City Council (the "City Council") of the City of San Rafael (the "City") has adopted and amended, from time to time, the Redevelopment Plan (the "Redevelopment Plan") for the Central San Rafael Redevelopment Project Area (the "Project Area"); and WHEREAS, the Redevelopment Agency of the City of San Rafael (the "Agency") is responsible for administering the Redevelopment Plan to cause redevelopment of the Project Area, including the provision of housing available at affordable housing cost to low and moderate income households; and WHEREAS, The City of San Rafael General Plan Policy H-19 requires at least 10% of the units in any residential project of ten units or more include a minimum of 10% of the units affordable to very low, low and moderate income households; and WHEREAS, such units provided by the Developer to meet the General Plan are known as the Below Market Rate Housing ("BMR") units; and WHEREAS, the City of San Rafael has entered into a Memorandum of Understanding with the Marin County Housing Authority ("Marin Housing") to administer the City's BMR Program for an annual cost of Seventy Thousand Dollars ($70,000); and WHEREAS, the Memorandum of Understanding requires Marin Housing to qualify eligible buyers based on income; and Wl IBREAS, each contract conveying a Below Market Rate unit to a buyer includes a Deed of Trust, resale restriction and an option to purchase constituting a right of first refusal to Marin Housing ("Resale Restriction") so the units remain affordable over time; and WHEREAS, it is proposed that the Agency fund the payment to Marin Housing with Seventy Thousand Dollars ($70,000) from the Agency's Low and Moderate Income Mousing Fund (the "Housing Fund"); and WIIEREAS, Health and Safety Code Section 33334.2(g) authorizes expenditure of Housing Fund monies outside the Project Area upon a finding by the Agency and the City Council that such use will be of benefit to the Project Area; and WHEREAS, the Below Market Rate ownership housing program will benefit the Project Area and serve major Redevelopment Plan goals and objectives by maintaining housing available at affordable cost in the community, thereby decreasing the market pressure on the supply of affordable housing in the community and the Project Area, by enhancing the economic viability of business within the Project Area by providing housing near the Project Area for people who will patronize businesses in the Project Area, and by alleviating blight in an area in close proximity to the Project Area; and WHEREAS, by staff report accompanying this Resolution and incorporated into this Resolution by this reference (the "Staff Report"), the City Council has been provided with additional information upon which the findings and actions set forth in this Resolution are based. NOW, THEREFORE, BE IT RESOLVED that the City Council hereby finds and determines that the above recitals are true and correct and have served as the basis, in part, for the findings and actions of the City Council set forth below. BE IT FURTI IER RESOLVED that, based on information and analysis set forth in the above Recitals and contained in the Staff Report accompanying this Resolution, the City Council hereby finds and determines pursuant to Health and Safety Code Section 33334.2(g) that the use of moneys from the Housing Fund to assist the Development will be of benefit to the Project Area and the program of redevelopment pursuant to the Redevelopment Plan. BE IT FURTHER RESOLVED that the City Council hereby approves allocation of Seventy Thousand Dollars ($70,000) of Housing Fund moneys to fund the payment to Marin Housing. BE IT FURTHER RESOLVED that this Resolution shall take immediate effect upon adoption. I, ESTHER C. BEIRNE, City Clerk of the City of San Rafael, hereby certify that the foregoing resolution was duly and regularly introduced and adopted at a regular meeting of the City Council held on the 2"d day of June, 2008, by the following vote, to wit: AYES: COUNCILMEMBERS: Brockbank, Connolly, Heller, Miller & Mayor Boro NOES: COUNCILMEMBERS: None ABSENT: COUNCILMEMBERS: None ESTHER C. BEIRNE , City Clerk CITY OF AGENDA ITEM NO.: SAN RAFAEL MEETING DATE: June 2, 2008 REPORT TO MAYOR AND CITY COUNCIL SUBJECT: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL APPROVING A $70,000 EXPENDITURE BY THE REDEVELOPMENT AGENCY OF THE CITY OF SAN RAFAEL TO MARIN HOUSING FOR THE ADMINISTRATION OF THE BELOW MARKET RATE OWNERSHIP PROGRAM AND MAKING FINDINGS AND APPROVALS PURSUANT TO THE CALIFORNIA REDEVELOPMENT LAW IN CONNECTION WITH THE UTILIZATION OF AGENCY LOW AND MODERATE INCOME HOUSING FUNDS O TSIDE THE CENTRAL SAN RAFAEL REDEVELOPMENT PROJECT REA SUBMITTED BY�"_"/ APPROVED BY: Nancy Mackle, Economic development Director Ken Iqordhoff, City Manager RECOMMENDATION: Staff recommends that the City Council adopt the attached resolution approving an expenditure by the Redevelopment Agency to Marin Housing for the administration of the ownership Below Market Rate program. BACKGROUND: The California Redevelopment Law, Health and Safety Code Section 33334.2 (g), requires the City Council make findings and approve the Agency's use of low and moderate income housing funds on projects that are located outside of the Central San Rafael Redevelopment Project Area. The ownership BMR units are located throughout the City. ANALYSIS: The City Council resolution is required by the Health and Safety Code to implement the Agency's expenditure to Marin Housing. FISCAL IMPACT: None to the City, the $70,000 expenditure grant will be funded by the Redevelopment Agency's Low and Moderate Income Housing Fund. ACTION REQUIRED: Adopt the attached resolution. FOR CITY CLERK ONLY File No.: City Council Meeting: Disposition: