MEETING DATE:
SEPTEMBER 25, 2018
SUBJECT:
Title
RESOLUTION NO. SHA 2018-034 - REQUEST FOR FIVE YEAR EXTENSION FOR RETENTION OF CERTAIN PROPERTIES BY THE CITY IN ITS CAPACITY AS THE SUCCESSOR HOUSING AGENCY (SHA)
Body
Recommendation
Recommendation
ADOPT a resolution approving an extension of five years for initiation of development on properties currently retained by the City in its capacity as the Successor Housing Agency (SHA) pursuant to Health & Safety Code section 33334.16.
Body
Board or Commission Action
N/A
Relevant Council Strategic Theme
Planning for the future
Relevant Department Goal
Facilitate Affordable Housing Production
Executive Summary
California Community Redevelopment Law ("CRL"), and specifically Health & Safety Code section 33334.16, requires that for real property acquired using moneys from the Low and Moderate Income Housing Fund the agency shall, within five years from the date it first acquires such property interest for the development of housing affordable to persons and families of low and moderate income, initiate activities consistent with the development of the property for that purpose. If activities have not been initiated within this period, the legislative body may, by resolution, extend the period during which the agency may retain the property for one additional period not to exceed five years.
Discussion
The CRL requires that the agency must initiate activities consistent with the development of the property within five years of acquiring the property. These activities may include, but are not limited to, zoning changes or agreements entered into for the development and disposition of the property. If these activities have not been initiated within this period, the legislative body may by resolution, extend the period during which the agency may retain the property for one additional period not to exceed five years.
The following properties presently vested in the name of the City as the SHA or th...
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