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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />WHEREAS, the Housing Project is located outside of the <br />Redevelopment Projects, but in close proximity to the Downtown <br />Project No. 1, the Mount Vernon Corridor Redevelopment Project <br />and the Downtown Project No. 2; and is located within the <br />territorial jurisdiction of the City; and <br />WHEREAS, Section 33334.2 of the Act authorizes the use <br />of tax increment revenues outside of a project area but only if <br />the Agency and the City find that such use constitutes a benefit <br />to the project; <br />NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED <br />BY THE REDEVELOPMENT AGENCY FOR THE CITY OF COLTON AS FOLLOWS: <br />Section 1. Finding As To Benefit. This City Council <br />finds that the use of Low and Moderate Income Housing Tax <br />Increment to pay the Agency Obligation will assist in providing <br />low and moderate income housing at affordable housing costs that <br />will be available to seniors of low and moderate income <br />presently residing in all the Redevelopment Projects and will <br />thereby benefit the Redevelopment Projects. These findings are <br />made to satisfy the requirements of Section 33334.2(g) of the <br />Act. <br />Section 2. Effective Date. This Resolution shall <br />take effect upon adoption. <br />ADOPTED this 3rd day of April, 1990. <br />Mayor o he Cit o ton, <br />California <br />ATTEST: <br />a- 7C,,eeJ <br />City Clerk of the City of <br />Colton, California <br />-3- <br />