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<br />~ i ,- ~/7 <br /> <br />2. MIS FousUBain that the Agency Board adopt a resolution approving the <br />Disposition and Development Agreement by and between the Redwood City <br />Redevelopment Agency and First Community Housing, Inc. which provides <br />for subsequent transfer of land to First Community Housing; <br /> <br />RESOLUTION RD 05~01 OF THE REDWOOD CITY REDEVELOPMENT AGENCY <br />APPROVING THE DISPOSITION AND DEVELOPMENT AGREEMENT BY AND <br />BETWEEN THE REDWOOD CITY REDEVELOPMENT AGENCY AND FIRST <br />COMMUNITY HOUSING, INC <br /> <br />The motion passed by a unanimous roll call vote. <br /> <br />3. MIS HartnetVPierce that the Agency Board approve a resolution authorizing <br />submittal of an application for funding to the County of San Mateo Housing <br />Department to assist in project costs. <br /> <br />RESOLUTION RD 05-02 AUTHORIZING SUBMISSION OF AN APPLICATION <br />FOR THE EL CAMINONERA STREET WORKFORCE HOUSING PROJECT TO <br />THE SAN MATEO COUNTY OFFICE OF HOUSING FOR CDBG FUNDING FOR <br />FISCAL YEAR 2005/06 IN AN AMOUNT UP TO FIVE HUNDRED THOUSAND <br />DOLLARS ($500,000) TO PARTIALLY FUND THE PROJECT CONSTRUCTION <br />AND DESIGNATING DEBBIE JONES-THOMAS, HOUSING COORDINATOR, AS <br />THE CONTACT PERSON <br /> <br />The motion passed by a unanimous roll call vote. <br /> <br />7. STAFF REPORTS <br /> <br />A. Loan Agreement between the City of Redwood City and the Redevelopment <br />Agency - City Council and Redevelopment Agency <br /> <br />Redevelopment Manager Moeller explained that the City Council and Agency <br />had approved a plan to finance various downtown improvements that used a <br />combination of bonds and a loan of $3 million from the City. This item approves <br />the loan agreement between the City and Agency for the funding plan. <br /> <br />Recommendation <br />MIS FousVHoward that the City Council and the Redevelopment Agency Board <br />approve a loan agreement under which the City will lend the Redwood City <br />Redevelopment Agency (Agency) $3,000,000.00 to finance various downtown <br />improvements. The motion passed by a unanimous voice vote. <br />RD MINUTE ORDER 05-01 <br />MINUTE ORDER 05~13 <br /> <br />CITY COUNCIL, REDEVELOPMENT AGENCY, AND <br />PUBLIC FINANCING AUTHORITY JOINT MEETING MINUTES <br /> <br />JANUARY 24, 2005 <br />PAGE 5 <br />DRAFT - <br />NOT FOR CITAnON <br />