HomeMy WebLinkAboutRES NO 117-03 117-03
RESOLUTION NO.
A RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSFIELD REGARDING THE USE OF
REDEVELOPMENT HOUSING SET ASIDE MONIES
OUTSIDE THE DOWNTOWN REDEVELOPMENT
PROJECT AREA AND COMMITTING FUNDING FOR
HOUSING FOR LOW AND MODERATE INCOME
CITIZENS
WHEREAS, there is a need in the City of Bakersfield (the "City") for decent, safe
and sanitary housing and particularly for housing affordable to very-low, Iow- and
moderate-income purchasers; and
WHEREAS, the Community Redevelopment Law of the State of California
(Health and Safety Code Section 33000 et. seq.), (the "Law"), imposes specific
obligations on each redevelopment agency to respond to housing needs within their
jurisdiction, including, but not limited to, establishment of a Low- and Moderate-Income
Housing Fund (the "Fund"); and
WHEREAS, Section 33334.2 of the Law provides that the redevelopment agency
shall use not less than twenty percent (20%) of all taxes which are allocated to it for the
purposes of increasing, improving, and preserving the community's supply of Iow- and
moderate-income housing; and
WHEREAS, Section 33334.2 also provides that an agency may use these funds
inside or outside the Downtown Redevelopment Project Area upon a resolution of the
agency and the legislative body that such use of funds will be of benefit to the
Downtown Redevelopment Project Area; and
WHEREAS, a number of conditions limit the ability of the Bakersfield
Redevelopment Agency ("Agency") to provide residential development in the Downtown
Redevelopment Project Area, such as, the existing land uses and socio-economic
characteristics of the Downtown Redevelopment Project Area; and
WHEREAS, available land that is suitable for affordable housing development is
limited and probable land acquisition costs indicate a need to provide significant levels
of financial assistance for the new construction of housing projects; and
WHEREAS, there is very little housing available to very-low, Iow- and moderate-
income citizens in or in close proximity to the Downtown Redevelopment Project Area;
and
WHEREAS, the Bakersfield Redevelopment Agency can provide more people
affordable housing opportunities by allowing the use of housing monies outside the
Downtown Redevelopment Project Area; and
WHEREAS, Parkview Cottages, LLC and Parkview Builders, LLC, ("Parkview")
has submitted a proposal to construct seventy-four (74) single-family homes ("the
Project") to be affordable to very-low, Iow- and moderate-income purchasers; and
WHEREAS, the Project is to be located north of the Downtown Redevelopment
Project area and in the Old Town Kern-Pioneer Redevelopment Project Area; and
WHEREAS, Parkview needed financial assistance from the Agency in order to
be able to provide this much-needed housing; and
WHEREAS, Agency borrowed $1,200,000.00 from the California Housing
Finance Authority ("CalHFA") to acquire the property needed for the Project; and
WHEREAS, the loan is a 3% simple interest loan for ten years; and
WHEREAS, Agency is seeking to use $2,311,000.00 in Downtown
Redevelopment Project Area housing-set aside monies for the Project; and
WHEREAS, such funds will be used to repay the loan and pay any other
acquisition costs; and
WHEREAS, the Project will benefit the Downtown Redevelopment Project Area
by providing decent, safe and sanitary housing in close proximity to the Downtown
Redevelopment Project Area, where such housing is not available.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF BAKERSFIELD as follows:
1. The above recitals are true and correct;
The use of funds from the Downtown Redevelopment Project Area's Low-
and Moderate-Income Housing Fund outside of the Downtown
Redevelopment Project Area will benefit the Downtown Redevelopment
Project Area;
The City of Bakersfield approves the use of up to $2,311,000.00 of the
Bakersfield Redevelopment Agency's Downtown Redevelopment Project
Area Low- and Moderate-Income Housing Fund to assist Parkview in the
creation of 74 single-family residences affordable for purchase by very-
Iow, Iow- and moderate-income persons by paying for the acquisition of
the real property needed for the Project.
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ORIGiN,~
I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by
the Council of the City of Bakersfield at a regular meeting thereof held ojuL
, by the following vote:
AYES: COUNCIL MEMBER COUCH, CARSON, BENHAM, MAGGARD, HANSON, SULLIVAN, SALVAGGIO
NOES: COUNCIL MEMBER
ABSTAIN: COUNCIL MEMBER
ABSENT: COUNCIL MEMBER
9 Z003
CITY CLERK and Ex Officio ~lerk of the
Council of the City of Bakersfield
HARVEY L. HALL
MAYOR of Bakersfield
APPROVED as to form:
BART J. THILTGEN
City Attorney
S:council\resos\33334.2parkview.doc
ORtGIN,~