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IN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEAiNDRO <br /> RESOLUTION NO. 2011 - <br /> RESOLUTION ADOPTING THE BUDGET FOR THE <br /> FISCAL YEAR JULY 1, 2011 TO JUNE 30, 2012 AND MAKING A DETERMINATION <br /> PURSUANT TO CALIFORNIA HEALTH AND SAFETY CODE SECTION 33334.3. <br /> WHEREAS, the Redevelopment Agency must annually adopt a budget that establishes <br /> spending limits by appropriating authorized expenditures for the coming fiscal year; and <br /> WHEREAS, it is the intent of the Agency that Low and Moderate Income Housing Fund be <br /> used to the maximum extent possible to defray the costs of production, improvement, and <br /> preservation of low and moderate income housing; and <br /> WHEREAS, pursuant to the California Health and Safety Code, Section 33334.3, the <br /> amount of money spent for planning and general administrative activities associated with the <br /> development, improvement and preservation of low and moderate income housing shall not be <br /> disproportionate to the amount actually spent on said housing. <br /> NOW THEREFORE, the Redevelopment Agency of the City of San Leandro does <br /> RESOLVE as follows: <br /> WHEREAS, the City Council reviewed the City Manager's Proposed Budget, and thereafter <br /> caused a public hearing to be held concerning the Proposed Budget on June 6, 2011; that the <br /> Agency hereby finds and determines that the planning and administrative expense contained in the <br /> Agency budget is necessary the production, improvement, or preservation of low and moderate <br /> income housing. <br /> Introduced by Agency Member and passed and adopted this <br /> 6th day of June, 2011, by the following called vote: <br /> Members of the Agency <br /> AYES: <br /> NOES: <br /> ABSENT: <br /> Attest: <br /> Marian Handa, Secretary <br />