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103-B. Draft RDA Resolution approving the Affordable Housing Agreement.pdf ATTACHMENT B DRAFTRESOLUTION ARESOLUTIONOFTHECITYOFCUPERTINOREDEVELOPMENTAGENCY APPROVINGANAFFORDABLEHOUSINGAGREEMENT ANDMAKINGCERTAINFINDINGSRELATEDTHERETO WHEREAS,theCityCounciloftheCity ofCupertino(“City”) hasadoptedthe RedevelopmentPlan(the"RedevelopmentPlan”)fortheCupertinoVallcoRedevelopment ProjectArea(the“ProjectArea");and WHEREAS,theCity ofCupertinoRedevelopmentAgency(the“Agency”)isengagedin variousactivitiesinitseffortsto provideaffordablehousingandtoremovethe blightingconditions thatstillremainintheProjectArea;and WHEREAS,inkeepingwiththegoals oftheAgencytoeliminateblightandreduce physical andeconomicblightandtoprovideaffordablehousinginaccordancewiththeRedevelopmentPlan andAgency’scurrentImplementationPlan(the“ImplementationPlan”),theCityandAgencyhave beenworkingcooperativelyregardingthedevelopmentofaffordablehousingandcertainpublic improvementsintheProjectArea;and WHEREAS, duetothecomplexity ofaffordablehousing projectswith varyingfunding sources,theAgencyandtheCitydesiretoenterintoanAffordableHousingAgreement(the “Agreement”,acopy ofwhichis on filewiththeCityClerkandAgencySecretary),withthe Housing Trust ofSantaClaraCounty(the"Trust")throughwhichtheAgency shall provide fundingtothe TrustfromtheAgency’sLowand ModerateIncomeHousingFund(the“Housing Fund”),theCity shall providemonitoringandreportstothe stateandtheTrust shallworkwith developersto developand providefundingforprojectstoincrease,improve,and preservethe supply ofaffordable housingwithintheProjectAreaandtheterritorialjurisdiction oftheCity, and WHEREAS,implementation oftheAgreementwillassisttheAgencytoaccomplishthe statedgoalsintheRedevelopmentPlananditscurrentImplementationPlanas describedinthestaff reportaccompanyingthisResolution(the"StaffReport");and WHEREAS, undertheCaliforniaRedevelopmentLaw(HealthandSafetyCodeSection 33100et seq.;the"Law"), beforetheAgencycanexpendmoneyfromitsHousingFund outside thearea oftheRedevelopmentPlan,theAgencyandtheCitymustmake specifiedfindings pursuanttoHealthandSafetyCodeSection 33334.2(g);and WHEREAS, pursuanttoStateCEQAGuidelinesSection 15378(b)(4),approval ofthe Agreementis nota project subjecttotheCalifornia EnvironmentalQualityAct(“CEQA”), becausetheAgreementconsists ofthecreation ofagovernmentalfundingmechanismfor affordable housing projects, but does notcommitfundstoany specificaffordable housing 1 394\\01\\941908.2 project,inthatenvironmentalreviewrequiredbyCEQA shall becompleted priortothe commencement ofanyaffordable housing projectpursuanttotheAgreement;and WHEREAS,theStaffReport,theRedevelopmentPlan,thereporttoCityCouncil accompanyingtheRedevelopmentPlan,andtheImplementationPlan provideadditional information upon whichthefindingsandactionssetforthinthisResolutionare based. NOW,THEREFOREBEITRESOLVEDbytheCity ofCupertinoRedevelopment Agencyasfollows: 1.AlltheRecitalsabovearetrueandcorrectandincorporated herein. 2.IncompliancewithSection33334.2(g)oftheLaw,theAgencyherebyfindsthat: assistancetoaffordablehousingprojectsdescribedintheAgreementandlocatedoutsidetheProject AreawillbeofbenefittotheRedevelopmentPlan,inthatthereisessentiallynoresidentialproperty withintheProjectAreaandprovidingthefundswouldbeamulti-yearinvestmentthatwould benefitCupertinoresidentsintheprovisionofaffordablehousingthroughouttheCityofCupertino. ThisfindingisfurtherbasedonthefactsandanalysisintheStaffReportincorporatedinthis Resolution. 3.TheAgencyagreestomaketheAgencyexpendituresascalledforintheAgreement foraffordablehousingprojectspursuanttotheAgreement,subjecttocompletionofany environmentalreviewrequiredbyCEQApriortothecommencementofanyprojectpursuanttothe Agreement. 4.TheAgencyherebyapprovestheAgreementandauthorizestheAgency ChairpersontoenterintoandexecutetheAgreement on behalf oftheAgencyforthefundingand completionofaffordablehousingprojectspursuanttotheAgreement,substantiallyintheform onfilewiththeCityClerkandtheAgencySecretary,withsuchrevisionsasarereasonably determinednecessary bytheAgencysignatory,suchdeterminationtobeconclusivelydeemedto havebeenmadebytheexecutionoftheAgreementbytheAgencysignatory.TheAgency ExecutiveDirectorisauthorizedtoimplementtheAgreementandtakeallfurtheractionsand executeall other documentswhicharenecessaryorappropriatetocarry outtheAgreement. 2 394\\01\\941908.2 5.TheAgencyherebyapprovesandappropriates(totheextentnotalready appropriated)theamountsnecessarytofundtheAgency'sobligationsundertheAgreementasa lawfulexpenditureofAgencyfundsundertheLaw.TheAgency'scurrentfiscalyearbudgetis herebyamendedtotheextentnecessarytoimplementtheforegoingappropriation. 6.TheAgencyExecutiveDirectorisherebyauthorizedanddirectedtofileNotices ofExemptionwithrespecttotheAgreementinaccordancewiththeapplicableprovisionsof CEQA. 7.TheAgencyExecutiveDirectorisherebyauthorizedtotakesuchfurtheractionsas maybenecessaryorappropriatetocarryouttheAgency’sobligationspursuanttothisResolution andtheAgreement. 8.TheAgencySecretary shallcertifytotheadoptionofthisResolution. 9 .ThisResolution shalltakeeffectimmediately uponadoption. PASSEDANDADOPTEDataregularmeetingoftheCityofCupertinoRedevelopment Agencythis 15th day ofFebruary, 2011, bythefollowing vote: VoteMembers oftheAgency YES: NOES: ABSENT: ABSTAINED: ATTEST:APPROVED: __________________________ AgencySecretary,Chairperson, CityofCupertinoRedevelopmentAgencyCityofCupertinoRedevelopmentAgency 3 394\\01\\941908.2