Res 93-071RESOLUTION NO. 93-071
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POWAY, CALIFORNIA
FINDING THAT THE USE OF TAXES ALLOCATED FROM THE PAGUAY
REDEVELOPMENT PROJECT FOR THE PURPOSE OF INCREASING, IMPROVING
AND PRESERVING THE COMMUNITY'S SUPPLY OF LOW AND MODERATE
INCOME HOUSING OUTSIDE OF THE PROJECT AREA WILL BE OF BENEFIT TO
THE PROJECT
WHEREAS, The Poway Redevelopment Agency (the "Agency") has prepared a proposed
Amended Redevelopment Plan (the "Amended Plan") for the Paguay Redevelopment Project
(the "Project") which would (1) increase the Amended Plan's limit on bonded debt that can be
outstanding at any one time; (2) extend the Amended Plan's duration from December 31, 2028 to
Fiscal Year 2030-2031; (3) increase the total amount of tax increment revenue the Agency may
collect from the Project Area; (4) extend the time limits of the Agency's authority to use eminent
domain powers and incur debt; and (5) refine and expand the list of public improvement projects
the Agency may undertake to provide needed improvements and correct inadequate infrastructure
which impairs the Project Area's ability to redevelop; and
WHEREAS, Section 33334.2 of the California Community Redevelopment Law (Health
and Safety Code Section 33000 et seq.) requires that not less than twenty percent (20%) of all
taxes allocated to the Agency, pursuant to Section 33670, shall be used by the Agency for the
purpose of increasing, improving and preserving the community's supply of low and moderate
income housing available at affordable housing costs; and
WHEREAS, Section 33334.2(g) of the Health and Safety Code provides that the Agency
may use such funds outside the Project Area ifa finding is made by resolution of the Agency and
the City Council that such use will be of benefit to the Project;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF POWAY DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1: That the use of taxes allocated from the Project for the purpose of
increasing, improving and preserving the community's supply of low and moderate income
housing available at affordable housing costs outside of the Project Area and within the City of
Poway will be of benefit to the Project.
SECTION 2: The City Clerk shall certify the adoption of this Resolution.
Resolution No. 93- 071
Page 2
PASSED, ADOPTED AND APPROVED, by the City Council of Poway, California, at a
regular meeting thereof this 25th day of May, 1993.
Don Higginson, MayPO
ATTEST:
Marjorie~\Wahlsten, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
I, Marjorie K. Wahlsten, City Clerk of the City of Poway, do hereby certify that the
foregoing Resolution No~3-071 was duly adopted by the City Council at a meeting of said City
Council on the 25th day of May, 1993, and that is was so adopted by the following vote:
AYES: CAFAGNA,
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
CALLERY, EMERY, SNESKO, HIGGINSON
ahlsten, City Clerk
City of Po. Way
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