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TEMPLE CITY COMMUNITY REDEVELOPMENT AGENCY
RESOLUTION NO. 335
A RESOLUTION OF THE TEMPLE CITY COMMUNITY REDEVEL-
OPMENT AGENCY ADOPTING FINDINGS, REGARDING COMPLE-
TION OF EXISTING OBLIGATIONS, PROJECTS, PROGRAMS
AND ACTIVITIES OF THE ROSEMEAD BOULEVARD REDEVELOP-
MENT PROJECT.
WHEREAS, the Temple City Community Redevelopment Agency
( "Agency ") is carrying out a program and activities for the
Rosemead Blvd. Redevelopment Project ( "Project "); and
WHEREAS, Health and Safety Code Section 33334.6 requires
that the Agency deposit tax increment proceeds to the Low and
Moderate Income Housing Fund on an annual basis with certain
exceptions for existing obligations and programs; and
WHEREAS, the Agency has prepared a Statement of Existing
Obligations and Existing Programs ( "Statement "), as accepted by
Agency Resolution NO. 279; and
WHEREAS, the Executive Director of the Agency has trans-
mitted a copy of the Statement to the City Council of the City of
Temple City and to the California Department of Housing and
Community Development; and
WHEREAS, the Agency is required for each fiscal year prior
to July 1, 1986 to determine whether the deposit of less than
twenty percent (20 %) of the tax increment of the Project is
necessary to provide for the orderly and timely completion of
public and private projects, programs, or activities approved by
the Agency as part of the Statement.
NOW, THEREFORE, the Temple City Community Redevelopment
Agency does hereby resolve and determine as follows:
SECTION 1. The Agency has reviewed the progress of the
Agency in carrying out the public and private projects, programs
and activities approved as part of the Statement as submitted and
accepted by Agency Resolution No. 279.
SECTION 2. The Agency hereby finds and determines that
the orderly and timely completion of programs and payment of
obligations described in the Statement prevent the deposit of any
portion of tax increment funds allocated to the Agency into the
Low and Moderate Income Housing Fund for the fiscal year 1987 -88
ending June 30, 1988.
SECTION 3. The Agency further finds and determines that
an amount equal to Twenty Percent (20 %) of the tax allocation
received by the Agency for the Project for fiscal year 1987 -88
shall be a deficit to be deposited to the Low and Moderate Income
Housing Fund as soon as the public and private projects, programs
and activities identified in the Statement are completed and such
deficit shall constitute an indebtedness of the Agency.
SECTION 4. The Agency Secretary shall certify to the
passage and adoption of this resolution and the same shall there-
upon take effect and be in force. -
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RESOLUTION CRA 335
ADOPTED THIS 21st day of June, 1988.
TEMPLE CITY COMMUNITY REDEVELOPMENT AGENCY
I hereby certify that the foregoing Resolution was duly
passed and adopted by the Temple City Community Redevelopment
Agency at its regular meeting held on the 21st day of June 1988,
by the following vote of the members:
AYES: Atkins, Breazeal ,Froehle,Gillanders,Swain
NOES: None
ABSENT: None
Approved as % orm:
Agency Coun e