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<br />08/2512008 <br />WHEREAS, although there is no guarantee that HEART will assist projects <br /> <br />located within the Agency's Project Area, all projects will be limited to San Mateo <br /> <br />County; and <br /> <br />WHEREAS, membership in HEART benefits the Agency's Project Area by <br /> <br />assisting HEART's development of county-wide affordable housing opportunities for <br /> <br />employers and lower income employees who work in the Agency's Project Area, and by <br /> <br />making it possible for the City to receive HEART's assistance in the acquisition, <br /> <br />construction, financing, operation and maintenance of housing programs, projects and <br /> <br />facilities within the City; and <br /> <br />WHEREAS, the Joint Powers Agreement bylaws for HEART were recently <br /> <br />revised and are now before member agencies for consideration and adoption, and the <br /> <br />City is a Member Agency. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF REDWOOD CITY AS FOLLOWS: <br /> <br />1. The City Council hereby approves and adopts the Revised Joint Powers <br /> <br />bylaws, "First Amended Joint Exercise of Powers Agreement, Housing Endowment and <br /> <br />Regional Trust of San Mateo County" attached hereto as Exhibit 1. <br /> <br />2. The City Manager is hereby designated to and is authorized to execute this <br /> <br />bylaw Agreement. <br /> <br />3. The City Clerk shall certify the adoption of this Resolution and thenceforth and <br /> <br />thereafter shall be in full force and effect. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />A TTY/RESO/RESO.184 7 <br />081908 <br /> <br />2 <br />