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CC Resolution 2017-060RESOLUTION NO. 2017 — 060 A RESOLUTION OF THE CITY COUNICL OF THE CITY OF LA QUINTA, CALIFORNIA, APPROVING AN EXTENSION OF TIME FOR AN ADDITIONAL PERIOD OF FIVE (5) YEARS, AND AFFIRMING THE INTENTION, TO USE AND/OR DEVELOP SPECIFIED PROPERTIES FOR LOW AND MODERATE INCOME HOUSING PURSUANT TO HEALTH AND SAFETY CODE SECTION 34176.1(e) WHEREAS, prior to the dissolution of redevelopment agencies, the Redevelopment Agency of the City of La Quinta ("Former Redevelopment Agency") was responsible for administering the Redevelopment Plan; and WHEREAS, pursuant to Health and Safety Code Section 33334.2, the Agency set aside a portion of the tax increment revenue in the Agency's Low and Moderate Income Housing Fund for the purpose of increasing, improving, and preserving the supply of low and moderate income housing; and WHEREAS, the former Redevelopment Agency of the City of La Quinta acquired certain real properties listed in "Exhibit A" (the "Properties" and individually, a "Property") with Low and Moderate Income Housing Fund money; and WHEREAS, Health and Safety Code Section 33334.16 required that within five (5) years of the date of acquisition of the Properties, subject to an additional five (5) - year extension when authorized by the City Council, activities were to begin which are consistent with the use and/or development of the Property for affordable housing, or the Property shall be sold and the net proceeds returned to the Low and Moderate Income Housing Fund; and WHEREAS, following the dissolution of redevelopment agencies, the Properties were transferred to the La Quinta Housing Authority ("Housing Authority") as the "housing successor agency" under the state dissolution law (Parts 1.8 and 1.85 of Division 24 of the Health and Safety Code) when the Former Redevelopment Agency dissolved on February 1, 2012; and WHEREAS, pursuant to the state dissolution law, the Housing Authority, as the "housing successor agency," may exercise all rights, powers, assets, duties, and obligations associated with the housing activities of the Former Redevelopment Agency under the Community Redevelopment Law (Health and Safety Code section 33000 et seq.); and WHEREAS, pursuant to Health and Safety Code Section 34176.1(e), the five (5) year time period of properties acquired by the Former Redevelopment Agency prior to February 1, 2012 shall be deemed to have commenced on the date that the California Resolution No. 2017 -060 Extension of Time Adopted: December 19, 2017 Page 2 of 4 Department of Finance approved the Properties as "housing assets" as defined under the state dissolution law; and WHEREAS, the California Department of Finance approved the Properties as "housing assets" when it approved the Housing Asset Transfer form by letter dated August 31, 2012; and WHEREAS; pursuant to Health and Safety Code Section 33334.16, the legislative body may, by resolution, extend the period during which the Housing Authority may retain the property for one additional period not to exceed five (5) years; and WHEREAS, the Housing Authority requests the passage of a resolution to extend the five (5) year time frame of ownership of the Property and affirm its intention to develop the Property with Low and Moderate Income Housing within the extended five (5) year period. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of La Quinta, California, as follows: SECTION 1. The Recitals set forth above are true and correct and incorporated herein by reference. SECTION 2. Pursuant to Health and Safety Code Section 33334.16, the period during which the Housing Authority may retain the property shall be extended for five (5) years from the end date of the initial five (5) year period, August 31, 2012 and shall end August 31, 2022. SECTION 3. The Housing Authority shall affirm that the property shall be used for the development of affordable housing for low and moderate income persons and families. SECTION 4. This resolution shall take immediate effect from and after its passage and approval. PASSED, APPROVED, and ADOPTED at the meeting of the City Council of the City of La Quinta held this 19th day of December 2017, by the following vote: AYES: Council Members Fitzpatrick, Pena, Radi, Sanchez, Mayor Evans NOES: None ABSENT: None ABSTAIN: None Resolution No. 2017 -060 Extension of Time Adopted: December 19, 2017 Page 3 of 4 LINDA EVANS, Mayor City of La Quinta, California ATTEST: SUSAN MAYSELS, City Clerk City of La Quinta, California (City SEAL) APPROVED AS TO FORM: WILLIAM H. IHRKE, City Attorney City of La Quinta, California Resolution No. 2017 -060 Extension of Time Adopted: December 19, 2017 Page 4 of 4 Type of Asset 1 Legal Description Vacant Land i 600-030-004, 020, and 021 Dune Palms / Westward Ho Vacant Land 773-223-022 Avenida Herrera / Calle Sonora Vacant Land EXHIBIT A Date of Acquisition 2006 through 2010 June 2007 733-233-019 Avenida Villa between Calle Durango / Calle Sonora Vacant Land March 1993 773-234-015 Avenida Navarro between Calle Durango / Calle Sonora Vacant Land February 1993 770-174-002 Calle Tamazula south of Avenida La Fonda October 1990