Agmt06 San Mateo, County of San Mateo & First Community Housing

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. . t, L,(~' .I " ,,/ RESOLUTION NO. (\ "" (. . ,-,~ - 0 ,-., Jt.1Q', 'L."" BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA * * * * * * RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT BY AND BETWEEN THE COUNTY OF SAN MATEO, THE CITY OF REDWOOD CITY AND FIRST COMMUNITY HOUSING PROVIDING $500,000 OF COUNTY HOME FUNDS AND AN ADDITIONAL $200,000 OF REDWOOD CITY FUNDS TO ASSIST WITH THE DEVELOPMENT OF AFFORDABLE HOUSING FOR A TERM STARTING FROM THE DATE OF THIS RESOLUTION AND CONTINUING THROUGH DECEMBER 31, 2006, AND AUTHORIZING THE DIRECTOR OF THE DEPARTMENT OF HOUSING TO EXECUTE SUBSEQUENT AMENDMENTS TO THE AGREEMENT, AND TO MAKE MINOR MODIFICATIONS IN THE TYPES OF SERVICES AND ACTIVITIES PROVIDED UNDER THE AGREEMENT, THE CUMULATIVE COST OF WHICH AMENDMENTS AND MODIFICATIONS IS NOT TO EXCEED $25,000. RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that WHEREAS, FIRST COMMUNITY HOUSING ("Contractor") applied for funding assistance for the development of 58 units of affordable rental housing units; and WHEREAS, on May 3,2005, the Board of Supervisors approved the CDBG/ESGI HOME funding for FY 2005-06, which included $500,000 of HOME funding for this purpose; and WHEREAS, on May 9, 2005, the City Council of the City of Redwood City approved CDBG funding for FY 2005-06 which included $200,000 funding for this purpose; and WHEREAS, on January 24, 2005, the Redevelopment Agency Board of the City of Redwood City approved a Development and Disposition Agreement (RDA Resolution 13624) recorded in the Office of the County Recorder on August 17,2005 as document 2005-141296, hereinafter referred to as "the DDA", and by this reference made a part hereof as if contained in its entirety, committing a subsidy of Redevelopment Agency Housing Set-aside Funds in the amount of $1,927,000; and "" .,-- ...", ""',. , ~-~---_._,-".__._~.._....-