Section 33333.7 Of Article 4. Preparation And Adoption Of Redevelopment Plans By The Agency From California Health And Safety Code >> Division 24. >> Part 1. >> Chapter 4. >> Article 4.
33333.7
. (a) Notwithstanding the time limits in paragraph (1) of
subdivision (a) of Section 33333.6, as that paragraph (1) read on
December 31, 2001, the Redevelopment Agency of the City and County of
San Francisco may, subject to the approval of the Board of
Supervisors of the City and County of San Francisco, retain its
ability to incur indebtedness exclusively for Low and Moderate Income
Housing Fund activities eligible under Sections 33334.2 and 33334.3
until January 1, 2014, or until the agency replaces all of the
housing units demolished prior to the enactment of the replacement
housing obligations in Chapter 970 of the Statutes of 1975, whichever
occurs earlier. The ability of the agency to receive tax increment
revenues to repay indebtedness incurred for these Low and Moderate
Income Housing Fund activities may be extended until no later than
January 1, 2044. Nothing in this paragraph shall be construed to
extend a plan's effectiveness, except to incur additional
indebtedness for Low and Moderate Income Housing Fund activities, to
pay previously incurred indebtedness, and to enforce existing
covenants, contracts, or other obligations.
(b) Annual revenues shall not exceed the amount necessary to fund
the Low and Moderate Income Housing Fund activities of the agency.
The agency shall neither collect nor spend more than 10 percent for
the planning and administrative costs authorized pursuant to
subdivision (e) of Section 33334.3. Revenues received under this
paragraph shall not exceed the amount of tax increment received and
allocated to the agency pursuant to the plan, as it has been amended,
less the amount necessary to pay prior outstanding indebtedness, and
less the amount of the project area's property tax revenue that
school entities are entitled to receive pursuant to Chapter 3
(commencing with Section 75) and Chapter 6 (commencing with Section
95) of Part 0.5 of Division 1 of the Revenue and Taxation Code if the
plan had not been amended. Additionally, revenues collected under
this paragraph are subject to the payments to affected taxing
entities pursuant to Section 33607.
(c) The activities conducted with revenues received under this
paragraph shall be consistent with the policies and objectives of the
community's housing element, as reviewed and approved by the
department, and shall address the unmet housing needs of very low,
low- and moderate-income households. The activities shall also be
consistent with the community's most recently approved consolidated
and annual action plans submitted to the United States Department of
Housing and Urban Development, and if the director deems it
necessary, the annual action plans shall be submitted to the
department on an annual basis. No less than 50 percent of the
revenues received shall be devoted to assisting in the development of
housing that is affordable to very low income households.
(d) The agency shall not incur any indebtedness pursuant to this
paragraph until the director certifies, after consulting with the
agency, the net difference between the number of housing units
affordable to persons and families of low and moderate income that
the agency destroyed or removed prior to January 1, 1976, and the
number of housing units affordable to persons and families of low and
moderate income that the agency rehabilitated, developed, or
constructed, or caused to be rehabilitated, developed, or constructed
within the project areas adopted prior to January 1, 1976.
(e) The agency shall not incur any indebtedness pursuant to this
paragraph unless the director of the department certifies annually,
prior to the creation of indebtedness, all of the following:
(1) The community has a current housing element that substantially
complies with the requirements of Article 10.6 (commencing with
Section 65580) of Chapter 3 of Division 1 of Title 7 of the
Government Code.
(2) The community's housing element indicates an unmet need for
Low and Moderate Income Housing Fund activities.
(3) The agency's most recent independent financial audit report
prepared pursuant to Section 33080.1 reports acceptable findings and
no major violations of this part.
(4) The agency has complied with subdivision (a) of Section
33334.2.
(5) The agency has met the requirements of this part with respect
to the provision of dwelling units for persons and families of low or
moderate income, including, but not limited to, the requirements of
Section 33413.