HomeMy WebLinkAboutResolution 92-068 03/16/1992,.
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Resolution No. 92-68 N.C.S.
of thf~ City ~~fi I'ctalurn~~, California
RESOLUTION APPROVING FY 1992-93 HOUSING PROGRAM
WHEREAS, General Plan policy requires participation by market rate residential
development projects, to assist with the provision of very low, low and moderate income
housing; and
WHEREAS, one method of compliance with this policy is a contribution into the In-Lieu
Housing Fund by individual developers, the funds to be used to help meet the need for very
low, low and moderate income housing; and
WHEREAS, the Redevelopment District is required to set-aside 20% of the tax increment
for low and moderate income housing; and
WHEREAS, on March 16, 1992, the City Council met and discussed the allocation of said
funds for the 1992-93 fiscal year;
NOW, THEREFORE, BE IT RESOLVED that the continuing and new programs as
presented in Exhibit A comprise the Housing Program for Fiscal Year 1992-1993.
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Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to
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Council of the City of Petaluma at a (Regular) (~t~4~[II~~)';~t$D[~C]c'~1Kmeeting ~O
on the ....1&th--•-•--.... day of ....................Mar-ch.---...................-., 19..9.2, by the ~ ;.
following vote: ........---~--,-.•---•-----• ...............
City,~Attorney
AYES.: Read, Cavanagh, Sobel, Nelson, Vice Mayor Woolsey, Mayor Hilligoss
NOES: None
ABSENT: Davis .
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ATTEST: .....~~~~~. G~~-~. ...... ............. ...~-/.-.... ....-- -... .....
City Clerk May r
CA 10-85 Res. No..J.G-~.~._............ N.C.S.
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EXHIBIT A
1992-1993 HOUSING PROGRAlVI
Continuing FY91-92 Project Allocations
Manufactured Home Loan $240,000
Hillview Oaks 147,000
Rental Assis. Pool 30,000
Burbank/Zell 489,000*
FY 1992-93 New Proposals
BHDC
Site Acquisition 500,000*
Preserve Parklane Adm. 25,000
COTS
Singles Shelter Pilot Prog. 17,300
NEH
Manf. Home Loan Pre-Development 10,000
91-92 Allocation 240,000
92-93 Allocation 10,000
Total loan to NEH 250,000
PEP
Site Acquisition (Payran) 273,500*
PPSC
Mediation Assistance Pool 36,000
CITY
Maintenance of Family Shelter 10,000
Mortgage Credit Certificate 15,000
Unreinforced Masonry Bldgs. 80,000
1992-93 Administration 86,600*
Debt Service 29,300*
TOTAL 1992-93 HOUSING PROGRAM ALLOCATIONS $1,082,700
* *All or a portion of these requests will be funded from Redevlopment Low/Mod
SetAside.
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