Section 33492.76 Of Article 4. Redevelopment Agency Of Fort Ord From California Health And Safety Code >> Division 24. >> Part 1. >> Chapter 4.5. >> Article 4.
33492.76
. (a) (1) Notwithstanding Section 33334.2 or any other
provision of law, a redevelopment agency established or governed
pursuant to this article may:
(A) Annually waive the requirement to allocate 20 percent of the
total annual tax increment revenue from any project area established
pursuant to this article to the Low- and Moderate-Income Housing Fund
for a period of up to five years after the date on which the county
auditor makes the certification pursuant to Section 33492.9.
(B) Annually waive the requirement to allocate half of the 20
percent of the total annual tax increment revenue to the Low- and
Moderate-Income Housing Fund for a period of five years after the
fifth year after the date on which the county auditor makes the
certification pursuant to Section 33492.9.
(2) The agency may not waive its allocation in any year unless it
first adopts a finding, based on substantial evidence, that the
vacancy rate for rental housing affordable to lower income households
is greater than 6 percent.
(b) Notwithstanding Section 33413, the redevelopment agency shall
not be required to replace removed or demolished military barracks,
which are located, as of January 1, 1995, within the boundaries of
Fort Ord.