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<br />SWC:aml 8/ll/88R (#22) <br />ORIGINAL <br /> <br />AUG 2 2 1988 <br /> <br />RES 0 L UTI 0 N <br /> <br />N o. 1 0 89 1 <br /> <br />RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF <br />AGREEMENT WITH HERON COURT COOPERATIVE, INC. FOR PAINTING <br />PROJECT <br /> <br />WHEREAS, the Community Development Block Grant Program <br /> <br />authorized pursuant to Title I of the Housing and Community <br /> <br />Development Act of 1974, as enacted by the Congress of the United <br /> <br />States (Pub. Law 93-383), provides for the issuance of Grants in <br /> <br />order to attain the objective of the development of viable urban <br /> <br />communi ties, by providing decent housing and a sui table living <br /> <br />environment and expanding economic opportunities, principally for <br /> <br />persons of low and moderate income; and <br /> <br />WHEREAS, Heron Court Cooperative, Inc. ("Heron Court") has <br /> <br />been established for the principal purpose of providing limited <br /> <br />equity residential ownership to low and moderate income persons <br /> <br />in the City of Redwood City; and <br /> <br />WHEREAS, Heron Court has requested financial assistance for <br /> <br />use by it to paint its facilities in Redwood City; and <br /> <br />WHEREAS, the City of Redwood City has reviewed said request <br /> <br />and desires to pay Heron Court the sum of One Hundred Sixty <br /> <br />Thousand Five Hundred Sixty and No/lOa Dollars ($160,560.00); and <br /> <br />WHEREAS, there has been presented to this Council for <br /> <br />approval an agreement between the City of Redwood City and Heron <br /> <br />Court, and it is the intention and desire of this Council to <br /> <br />approve the same; <br /> <br />NOW, THEREFORE; <br /> <br />10891 <br />