Laserfiche WebLink
CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of May 17, 1994 <br />TO: Honorable Mayor and City Council <br />FROM: Hani W. Gabriel, Economic Development Director <br />SUBJECT: CONSIDERATION AND ADOPTION OF A RESOLUTION FINDING Date: May 17, 1994 <br />THAT THE PROVISION OF LOW AND MODERATE INCOME <br />HOUSING OUTSIDE THE RANCHO/MILL REDEVELOPMENT <br />PROJECT WILL BE OF BENEFIT TO THE PROJECT <br />Background <br />Section 33334.2 of the California Community Redevelopment Law provides that the Redevelopment <br />Agency ("Agency") for the City of Colton shall utilize not less than 20% of all tax increments which <br />are allocated to it for the purposes of increasing and improving the community's supply of low and <br />moderate income housing. Section 33334.2 provides that the Agency may use these funds inside <br />or outside a Project Area upon a resolution of the Agency and the City Council that such use will be <br />of benefit to the Project. For these actions to be effective, the findings must be made prior to <br />adoption of the amended Plan. <br />Discussion <br />These actions are necessary because there is little land in the proposed Project Area suitable for low <br />and moderate income housing. Land in the Project Area is primarily designated in the General Plan <br />and Zoning Ordinance for commercial or industrial use. <br />Financial Impact <br />This action will not create any adverse financial impact upon the City. <br />Recommendation <br />Staff recommends adoption of the attached resolution. <br />Concurrence: <br />Y <br />City Manager <br />Attachments: Resolution <br />Page 1 of 1 <br />Ish:\wpw in\admin\meeting\coun0617.rp2 <br />May 6, 1994 -- 1001-47-14 <br />Item No. / Z <br />