CIC Resolution 03-106COMMUNITY IMPROVEMENT COMMISSION
RESOLUTION NO. 03-106
RESOLUTION OF THE COMMUNITY IMPROVEMENT
COMMISSION OF THE CITY OF ALAMEDA (I) FINDING THAT
THE USE OF TAXES ALLOCATED FROM THE WEST END
COMMUNITY IMPROVEMENT PROJECT FOR THE PURPOSE
OF INCREASING, IMPROVING AND PRESERVING THE
COMMUNITY`S SUPPLY OF LOW- AND MODERATE- INCOME
HOUSING OUTSIDE THE PROJECT AREA WILL BE OF BENEFIT
TO THE PROJECT AREA; AND (II) APPROVING THE USE OF
HOUSING FUNDS FROM THE BUSINESS AND WATERFRONT
AND WEST END COMMUNITY IMPROVEMENT PROJECTS TO
PAY A PORTION OF THE COSTS OF DEVELOPMENT OF A 52-
UNIT AFFORDABLE RENTAL PROJECT WITHIN THE EAST
HOUSING AREA
WHEREAS, the City Council of the City of Alameda (the "City Council ") adopted
Ordinance No. 2141 on July 5, 1983, approving and adopting the Community Improvement Plan,
as subsequently amended on January 2, 1985, by Ordinance No. 2222, on December 6, 1994, by
Ordinance No. 2682 and. on November 20, 2002, by Ordinance No. 2889, for the West End
Community Improvement Project (the "WECIP "), which resulted in the allocation of taxes from
the WEICP Project Area to the Community Improvement Commission (the "Commission ") for
the purposes of redevelopment; and
WHEREAS, Section 33334.2(a) of the Community Redevelopment Law requires that not
less than twenty percent (20 %) of all taxes allocated to a redevelopment agency from a
redevelopment project ( "Housing Funds ") be used for the purpose of increasing, improving, and
preserving the community's supply of low- and moderate - income housing at affordable costs;
and
WHEREAS, Section 33334.2(g) of the Health and Safety Code provides that the
Commission may use Housing Funds outside a project area if a finding is made by resolution of
the Commission and the City Council that such use will be of benefit to the project; and
WHEREAS, the City Council adopted Ordinance No. 2559 on June 18, 1991, approving
and adopting the Community Improvement Plan, as subsequently amended on December 6,
1994, by Ordinance No. 2691, on July 6, 2000, by Ordinance No. 2835, on September 5, 2000,
by Ordinance No. 2844 and on April 3, 2001, by Ordinance No. 2857, for the Business and
Waterfront Improvement Project (the `BWIP "); and
WHEREAS, the Commission and City Council have found that the use of BWIP Housing
Funds outside the BWIP Project Area will be of benefit to the BWIP; and
WHEREAS, the Commission has been designated as the official redevelopment agency
to carry out in the City of Alameda the functions and requirements of the Community
Redevelopment Law of the State of California (Health and Safety Code Section 33000 et seq.)
and to implement the Community Improvement Plans for the BWIP and WECIP; and
WHEREAS, Section 33071 of the Community Redevelopment Law declares that a
fundamental purpose of redevelopment is to expand the supply of low- and moderate - income
housing; and
WHEREAS, the Commission desires to provide for the construction of a 52 -unit
affordable rental project within the East Housing/FISC area.
NOW, THEREFORE, THE COMMUNITY IMPROVEMENT COMMISSION
OF THE CITY OF ALAMEDA does hereby resolve as follows:
Section 1. Finding: The Commission hereby finds and determines that the use of
taxes allocated from the West End Community Improvement Project Area for the purpose of
increasing, improving and preserving the community's supply of low- and moderate - income
housing available at affordable housing cost outside the WECIP Project Area will be of benefit
to the WECIP.
Section 2. Action: Pursuant to Community Redevelopment Law, the Commission
hereby authorizes use of WECIP and BWIP Housing Funds in an amount not to exceed
$2,015,000 that will be provided to Resources for Community Development (RCD), a non -profit
affordable housing developer. These funds will be used solely for the 52 -unit affordable housing
rental project within the East Housing/FISC area. These funds will be provided in the form of a
nonrecourse deferred loan secured by a deed of trust for a period of 55 years at 0% interest. It is
further understood that any other funding, including County HOME funds, Affordable Housing
Program funds, a mortgage supported by funds generated by Project -Based Section 8, and any
other additional debt that may be awarded or obtained for the project will diminish the City's
funding obligation for the 52 -unit project. The Commission further authorizes the Executive
Director or his or her designee to execute the necessary documents related to this loan
transaction.
I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly
adopted and passed by the Community Improvement Commission of the City of Alameda in a
Special Community Improvement Commission meeting assembled on the 4th day of March, 2003, by
the following vote to wit:
AYES: Commissioners Daysog, DeWitt, Matarrese and Chair Johnson - 4.
NOES: Commission Kerr — 1.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of said
Commission this 5th day of March, 2003.
Beverly Johnson
Community Impr
ommission
J—/ Liu,64
Lara Weisiger, Secretary
Community Improvement Commission