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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 />RESOLUTION NO. R-59-94 <br />A RESOLUTION OF THE COLTON CITY COUNCIL FINDING <br />THAT THE PROVISION OF LOW AND MODERATE INCOME <br />HOUSING OUTSIDE RANCHO/MILL REDEVELOPMENT PROJECT <br />WILL BE OF BENEFIT TO THE PROJECT <br />WHEREAS, the Redevelopment Agency for the City of Colton (the <br />"Agency") has undertaken the formation of the Rancho/Mill <br />Redevelopment Project; and <br />WHEREAS,,' in accordance with Section 33334.2(a) of Community <br />Redevelopment Law, not less than twenty percent (20%) of all taxes <br />which are allocated to the Agency from the Project Area shall be <br />used for the purposes of increasing, improving, and preserving the <br />community's supply of low and moderate income housing; and <br />WHEREAS, Section 33334.2(g) of Community Redevelopment Law <br />provides that the Agency may use such funds outside the Project Area <br />upon adoption of resolutions by the Agency and the legislative body <br />finding that the provision of low and moderate income housing <br />outside the Project Area is of benefit to the Project; and <br />WHEREAS, the Agency has adopted a resolution declaring that the <br />use of such funds outside the Project Area will be of benefit to the <br />Project. <br />NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE COLTON CITY <br />COUNCIL AS FOLLOWS: <br />Section 1. Pursuant to Section 33334.2(8) of Community <br />Redevelopment Law, the City Council hereby finds that the provision <br />Of low and moderate income housing outside the Rancho/Mill <br />Redevelopment Project will be of benefit to the Project. <br />Section 2. Pursuant to Section 33334.2(g) of Community <br />-1- <br />