HomeMy WebLinkAboutMINUTES - 03121991 - 1.6 (2) 1.60
TO: REDEVELOPMENT AGENCY -�� - '' C"' '`
ra
r Costa
FROM: Phil Batchelor F.1
Executive Director
c'oN
DATE: March 12, 1991
SUBJECT: AB 315 (Freidman)
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Adopt position in opposition to AB 315 (Friedman) and authorize the
Chair to sign. letters to the County legislative delegation and the
Assembly Housing and Community Development Committee expressing said
opposition.
FISCAL IMPACT
The adoption of AB 315 could substantially impair 'the.°abiaity�•,,of? the,
County Redevelopment Agency to realize its redevelopment and`'firian'cia1
goals.
BACKGROUND/REASONS FOR RECOMMENDATIONS
AB 315 would require, effective: January 1, 1992, all Redevelopment
Agencies to allocate 50% of their annual tax increment revenue to
increasing, improving or preserving the supply of low and moderate
income housing. There would be only one category exception: Agencies
in cities where the regional fair share of affordable housing
allocation has already been met. In such a case, the new set-aside
r would be 40% rather than 50%. Ab 315 applies to all current project
areas and all project areas adopted after the effective date of the
bill.
CONTINUED ON ATTACHMENT: X SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION. OFBOAR COMMI T
APPROVE OTHER
I _ 1 .
SIGNATURE(S) :
ACTION OF AGENCY ON March 12, 1991 APPROVED AS RECOMMENDED X OTHER
VOTE .OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT III ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT '
AGENCY ON THE DATE SHOWN.
cc: Community Development
County Administrator ATTESTED . March 12, 1991
County Counsel PHIL BATCHELOR, CLERK OF
County Housing Authority THE BOARD OF SUPERVISORS
California Redevelopment Assn. OUNT MINISTRATOR
(via Redevelopment Agency)
SRA12/jb/ab315.bos BY 4 4a
DEPUTY
Your Board has been a strong and consistent supporter of actions which
affirmatively address affordable housing needs. Nevertheless, this
bill would further affordable housing activities at a substantial cost
to current and planned redevelopment activities and obligations. The
Agency would experience significant cash flow shortages that would
either delay or kill highly desirable projects. Without commercial
renewal in project areas, little or no tax increment is likely to be
generated for affordable housing assistance. AB 315 is ultimately
self-defeating.
l
l