HomeMy WebLinkAbout96-16 RDA Resolution RESOLUTION NO. RDA 96-16
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF TEMECULA TO ESTABLISH THE
RESIDENTIAL REHABILITATION PROGRAM TO ASSIST
PROPERTY OWNERS TO REHABILITATE RESIDENTIAL
PROPERTY FOR THE PURPOSE OF INCREASING,
IMPROVING AND PRESERVING THE SUPPLY OF LOW
AND MODERATE INCOME HOUSING WITHIN THE
REDEVELOPMENT PROJECT AREA AND THE CITY
THE REDEVELOP AGENCY OF THE CITY OF TEMECULA DOES
RESOLVE AS FOLLOWS:
Section 1. The Redevelopment Agency does hereby find, determine and declare
that:
A. The Agency is currently implementing the Redevelopment Plan for
RedevelopmentProject No. 1--1988, originally approved by the Board of Supervisors on July 12,
1988 prior tothe incorporation of the City and subsequently approved and transferred to the
Redevelopment Agency of the City of Temecula on April 9, 1991 (the "Plan").
B. The Agency has established a Low and Moderate Income Housing Fund
pursuant to the provisions of Health and Safety Code Section 33433 for the purposes of increasing,
improving and preserving the supply of low and moderate income housing within the Project Area
and the City.
C. The Agency proposes to establish the Residential Rehabilitation Program
to provide financial assistance to low and moderate income persons in the rehabilitation of
residential housing for the purposes of increasing, improving and preserving the supply of low and
moderate income housing within the Project Area and the City.
D. The rehabilitation of properties for low and moderate income housing
purposes is consistent with the Redevelopment Plan and with the Implementation Plan adopted by
the Agency. Additionally, rehabilitation of properties and the improvement and preservation of
low and moderate income housing thereon will assist in the elimination of blight in the Project
Area.
E. The rehabilitation of properties and the units thereon is exempt from the
provisions of the California Environmental Quality Act pursuant to 14 Cal. Admin. Code 15326.
Moreover, the EIR approving the Plan addressed the impacts of housing development in the area
of the Properties.
Resos\RDA.96-16
Section 2. The Board of Directors of the Redevelopment Agency of the City
of Temecula hereby approves the Residential Rehabilitation Program, authorizes the expenditure
of $200,000.00 from account number 165-199-813-5804, and authorizes the Chairperson to
execute agreements with individuals in substantially conformance with the parameters of the
program set forth hereto as Exhibit A.
Section 3. The Secretary shall certify the adoption of this Resolution.
Section 4. PASSED, APPROVED AND ADOPTED by the Redevelopment
Agency of the City of Temecula on September 10, 1996.
Patricia H. Birdsall, Chairperson
ATTEST:
J@ S. Greek, CMC
City Clerk/Agency Secretary
[SEAL]
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE ss
CITY OF TEMECULA
1, June S. Greek, City Clerk/Secretary of the Redevelopment Agency of the City of
Temecula, do hereby certify that the Resolution No. RDA 96-16 was duly and regularly
adopted by the Redevelopment Agency of the City of Temecula at a regular meeting thereof,
held on September 10, 1996, by the following vote, to wit:
AYES: 4 AGENCY MEMBERS: Birdsall, Ford, Roberts, Lindemans
NOES: 0 AGENCY MEMBERS: None
ABSENT: 0 AGENCY MEMBERS: None
ABSTAIN: 1 AGENCY MEMBERS: Stone
June S. Greek, CMC,
City Clerk/Agency Secretary
Resos\RDA.96-16 2
EXHIBIT "A"
City of Temecula
Multi-Family Rehabilitation Loan Program
Property Type
Multi-family residences.
Property Location
Within Assigned Communities (Old Town, Rancho Meadows, La
Serena, Ynez Road, Winchester Creek)
Maxim-m Loali Amount $3,000 per unit
Loan Terms
No payments or interest accrual for years 1-5, fully amortized for
years 6 through 15. Payment of entire loan is due if property is
retinariced or sold during the term of the loan. The interest rate is
the prime interest rate at the time the agreement is signed.
Requirements
Property owners will be allowed to borrow up to $3,000 per
dwelling unit to rehabilitate rental properties. Eligible
improvements include painting, landscaping, tot lots, interior
improvements necessary to meet current Uniform Building Code
requirement. As a condition of the loan, property owners will be
required to record an affordability agreement insuring that the all
umts within the property are guaranteed as affordable units for 30
years., with 75 % of the units to be for low income and 25 % very
low income. A second condition of the loan will require the
property owner to record a maintenance agreement insurance the
upkeep of the property. Failure to maintain the property can result
m the calling of the loan.
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