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ATTACHMENT 1 <br />ATTY/RESO.0002/CC RESO HEART <br />REV: 01-13-16 JR <br />Page 1 of 1 <br />RESOLUTION NO. <br /> <br />RESOLUTION APPROVING AN APPROPRIATION AMENDMENT <br />TRANSFERRING $25,268 FROM THE UNASSIGNED <br />PORTION OF THE CITY’S GENERAL FUND TO THE <br />COMMUNITY DEVELOPMENT ADMINISTRATION FOR <br />MEMBERSHIP DUES FOR THE PURPOSE OF PROVIDING <br />FUNDING FOR AFFORDABLE HOUSING OPPORTUNITIES AND <br />AUTHORIZING A ONE-TIME COMMITMENT OF $25,268 TO THE <br />HOUSING ENDOWMENT AND TRUST <br /> <br />WHEREAS in 2003 the City of Redwood City entered into an agreement with <br />twenty other local government agencies to establish the Housing Endowment and Trust <br />of San Mateo County, a Joint Powers Authority, hereafter referred to as “HEART”; and <br />WHEREAS, HEART was created to provide charitable support for affordable <br />housing on behalf of member agencies in San Mateo County, including Redwood City; <br />and <br />WHEREAS, this Council has reviewed the recommendation by City Staff to set <br />aside a portion of the City’s General Fund for affordable housing and desires to evidence <br />approval thereof. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF REDWOOD CITY AS FOLLOWS: <br />Section 1. That the sum of Twenty-Five Thousand Two Hundred Sixty-Eight <br />Dollars ($25,268) shall be appropriated from the fund balance in the City’s General Fund <br />for a one-time contribution to HEART. <br />Section 2. That the same sum of Twenty-Five Thousand Two Hundred Sixty-Eight <br />Dollars ($25,268) shall be allocated from the unassigned portion of the General Fund to <br />Community Development Administration, from which account the City shall make the one- <br />time contribution to HEART referenced in Section 1 above. <br />Section 3. This resolution shall be effective immediately upon adoption. <br /> <br /> <br />* * * <br />6.3.C. - Page 3