CC Resolution 1993-013^D IL
RESOLUTION NO. *
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA MAKING CERTAIN FINDINGS IN CONNECTION
WITH THE AFFORDABLE HOUSING AGREEMENT BY AND
AMONG THE LA QUINTA REDEVELOPMENT AGENCY,
COACHELLA VALLEY LAND, A CALIFORNIA LIMITED
PARTNERSHIP AND WILLIAM J. CUSACK PERTAINING TO
PROPERTY LOCATED WITHIN THE PROJECT AREA OF THE
L * *?TT *TA REDEVELOPMENT PROJECT
WHEREAS, the La Quinta Redevelopment Agency hereinafter
referred to as the Agency") under the provision of the
California Community Redevelopment Law, is engaged in
activities necessary for the execution of the Redevelopment
Plan for the La Quinta Redevelopment Project, as heretofore
amended hereinafter referred to as Project No. * and
WHEREAS, the Agency is further er**age* in activities
necessary for the execution of the Re:'evelopment Plan for
Project No. 2 of the City of La Quinta, as heretofore amended
TMProject No. 2"); and
WHEREAS, Coachella Valley Land the Participant"), and
William J. C"aack Owner") as the owners of certain real
property consisting of thirty 30) dwelling units located
within the Project Area of in Project No. 1 collectively, the
Sites") have entered into an Agreement the Affordable
Housing Agreement" or AHA") with the Agency, pursuant to the
Agency action taken by Resolution No.RA*; and
WHEREAS, pursuant to the Agreement, the Participant and
Owner will cause twenty 20) of those dwelling units to be
maintained available for rent at Affordable Housing Cost" to
Very Low Income households which qualify for Agency
participation pursuant to Section 33334.2 of the California
Health & Safety Code; and
WHEREAS, pursuant to the Agreement, the Participant and
Owner will make ten 10) dwelling units available for sale to
households having incomes not in excess of qualifying incomes
Moderate Income households) for affordable housing subject to
long-term affordability covenants;
WHEREAS, the provision of affordable housing is
contemplated by Section 33334.2 and other provisions of the
Community Redevelopment Law and promotes the objectives of the
Redevelopment Plans for Project No. 1 and Project No. 2; and
WHEREAS, the provision of affordable housing pursuant to
the Agreement will benefit each of Project No. 1 and Project
No. 2;
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^D
NOW, THEREF6RE, THE CITY COUNCIL OF THE CITY OF LA QUINTA
DOES RESOLVE AS FOLLOWS:
Section 1:
The City Council finds and determines that the use of
Housing Funds pursuant to the Agreement will be of benefit to
Project No. 1.
Section 2:
The City Council finds and determines that the use of
Housing Funds pursuant to the Agreement will be of benefit to
Project No. 2.
ADOPTED this 2nd day of * 1993.
Mayor f**y of La Quinta
AT T:
ity Clerk
I hereby certify that the foregoing Resolution was
duly and regularly adopted by the City Council of the City
of La Quinta at a regular meeting thereof held on the
2nd day of March 1993, by the following
vote:
AYES: COUNCILMEMBERS: Bangerter, Mccartney, Perkins, Sniff &
NOES: COUNCILMEMBERS: None Mayor Pena
ABSENT: COUNCILMEMBERS: None
ABSTAIN: COUNCILMEMBERS: No
02/12/93
4644Q/2338/037 2
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