1991-246-Finding That The Use Of Taxes Allocated From The Central Los Gatos Redevelopment Project For The Purpose Of Improving And Increasing The Community's Supply Of Low And Moderate-Incoming Housing Outside The Project AreaRESOLUTION 1991 -246
RESOLUTION OF THE TOWN COUNCIL
OF THE TOWN OF LOS GATOS
FINDING THAT THE USE OF TAXES ALLOCATED FROM THE
CENTRAL LOS GATOS REDEVELOPMENT PROJECT FOR THE PURPOSE
OF IMPROVING AND INCREASING THE COMMUNITY'S
SUPPLY OF LOW - AND MODERATE- INCOME HOUSING
OUTSIDE THE PROJECT AREA WILL BE OF BENEFIT
TO THE PROJECT
WHEREAS, the Town Council of the Town of Los Gatos (the "Town ") has prepared
a proposed Redevelopment Plan (the 'Redevelopment Plan ") for the Central Los Gatos
Redevelopment Project (the 'Project ") which would result in the allocation of taxes from
the Project Area for the Town for the purposes of redevelopment; and
WHEREAS, Section 33334.2 of the California Community Redevelopment Law
(Health and Safety Code Section 33000 et seo.) requires that not less than twenty percent
(20 %) of all taxes so allocated be used by the Town for the purpose of improving and
increasing the community's supply of low- and moderate - income housing available at
affordable housing cost; and
WHEREAS, Section 33334.2(g) of the Health and Safety Code provides that the
Town may use such funds outside the Project Area if a finding is made by resolution of
the Town and the Town Council that such use will be of benefit to the Project;
RESOLVED: that the use of taxes allocated from the Project Area for the purpose
of improving and increasing the community's supply of low- and moderate- income housing
available at affordable housing cost outside the Project Area and within the Town of Los
Gatos will be of benefit to the Project.
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PASSED AND ADOPTED at a regular meeting of the Town Council of the Town
of Los Gatos, California, held on the 18th day of November, 1991, by the following vote.
COUNCIL MEMBERS:
AYES: Randy Attaway, Joanne Benjamin, Steven Blanton, and Mayor Eric D.
Carlson
NAYS: None
ABSENT: None
ABSTAIN: Brent N. Ventur
SIGNED:
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
CLERK OF THE TOWN O OS GATOS
LOS GATOS, CALIFORNIA
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