Item # D-1 Resolution No. 794 - Laserfiche WebLink

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DUPLICA-,�� REDEVELOPMENT AGENCY FOR THE ORIGINAL CITY OF COLTON For the Redevelopment Agency Board Meeting of December 18, 2001 TO: Honorable Chairpersonand Agency Boarchnembers FROM: Candace Cassel, Program Manager BJECT: Consideration and Approval of Resolution Making a Finding that Aggregating New or Substantially Rehabilitated Low and Moderate Income Housing Developed in One or More Project Areas in (he City Does Not Cause Racial or Ethnic Segregation, Resolution No. 794. DATE: December 10, 2001 Backl!round Section 33413(2)(A)(i) of the Health & Safety Code requires that 15% of housing units developed or rehabilitated in a Project Area by public or private entities other than a Redevelopment Agency must be affordable to low and moderate income households (less than 120% of the median income). Forty (40%) of those units (or 6% of the total Project Area units produced) must be affordable to very low-income households (less than 50% of the median income), Section 4.4.2 of the Agency's Implementation Plan indicates that a total of 2,256 units have been constructed within the Santa Ana River, Mount Vernon, West Valley, Cooley Ranch Amended and Rancho Mill Project Areas creating an obligation to produce 338 units of affordable housing, of which 135 are to be restricted for occupancy by very low income households and 203 for low - to -moderate income households. Based on the assumption that the Agency would make a finding pursuant to Section 33413(2)(A)(v) of the Health & Safety Code, that aggregating affordable housing units developed in one or more project areas did not cause or exacerbate racial, ethnic, or economic segregation, the Agency has caused the development of 399 units satisfying the affordable housing requirements through December 3 1, 1999. Fifty—five of those units satisfied the very low-income household requirement and 344 satisfied the low and moderate income household requirement. Assuming the Agency makes the aggregation finding, this will leave the Agency with an affordable housing burden of 80 units restricted for very low income and a surplus of 141 units restricted for low -to -moderate income households through December 31, 1999. Discussion/Analysis Historically, the Agency has invested its low -to -moderate income resources in three main areas of the City� Colton Palms, which is located in the center of the City, census tract 67 ' Rancho . and the Mediterrania, which is located at the Southern end of the City, census tract 69, Mortgage G \S1iareRDA\Mee1ings\2001 Meet ings\RD A. City CouncilDeccinbcr 18,2001 \Aggregate Housing.doc