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finance the acquisition and rehabilitation of Woodside Terrace, a senior <br />residential and health care related facility, a portion of which is to be occupied by <br />very Iow income persons or Iow or moderate income persons (the "Project"); and <br /> <br /> WHEREAS, the transaction described in the Preliminary Official <br />Statement approved by the Authorizing Resolution identifies the Hillsdale Group, <br />L.P., a California limited partnership ("Hillsdale"), as the managing general <br />partner of Woodside Terrace Partners, a California General Partnership, which is <br />the current owner of the facility to be acquired and rehabilitated as the Project; <br />and <br /> <br /> WHEREAS, said Preliminary Official Statement also identifies Hillsdale as <br />the party which will provide management and operational services to the Owner; <br />and <br /> <br /> WHEREAS, subsequent to adoption of the Authorizing Resolution, <br />Hillsdale was purchased by ARV Assisted Living, Inc., a California corporation <br />("ARV"); and <br /> <br /> WHEREAS, the Preliminary Official Statement approved by the <br />Authorizing Resolution, and pertinent documents therein referenced which <br />formerly identified Hillsdale's participation in the transaction and Project have <br />been revised to identify its successor, ARV in its stead; <br /> <br /> NOW, THEREFORE; <br /> <br />Reso-399 2 1 3 3 2 7 <br />G:~shared\redwood\cou ncil <br />DES:djk <br />04/21/98 <br /> <br /> <br />