Laserfiche WebLink
<br />SWC:mf 4/25/83 <br />SWC:djg-c 8/17/83R <br /> <br />RES 0 L UTI 0 N <br /> <br />9423 <br /> <br />ORIGINAL <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br />NO. RD- 83-05 <br /> <br />AUG 2 2 1983 <br /> <br />CONCURRENT RESOLUTION OF THE COUNCIL OF THE CITY OF <br />REDWOOD CITY AND THE REDEVELOPMENT AGENCY OF THE CITY <br />OF REDWOOD CITY APPROVING AND AUTHORIZING LOAN OF CITY <br />FUNDS TO REDEVELOPMENT AGENCY FOR LOW INCOME HOUSING <br />COOPERATIVE <br /> <br />WHEREAS, pursuant to Resolution No. 9126, adopted May 24, 1982, <br /> <br />the City Council approved and authorized execution of an agreement <br /> <br />with the County of San Mateo whereby the County has loaned to the City <br /> <br />the sum of $200,000 from Community Development Block Grant funds to be <br /> <br />used for the low income cooperative housing project; and <br /> <br />WHEREAS, past expenditures on behalf of the cooperative have been <br /> <br />made by the Redevelopment Agency and it is the desire of the City and <br /> <br />the Agency that such funding continue to be made by the Agency; and <br /> <br />WHEREAS, it is the intent of the Council to loan the sum of <br /> <br />$200,000 to the Agency for the above stated purpose, and it is the <br /> <br />intent of the Agency to repay such amount to the City from tax <br /> <br />increment funds of the Agency; and <br /> <br />WHEREAS, pursuant to Concurrent Resolution No. 9065 and No. <br /> <br />RD-82-04, adopted March 8, 1982, the City loaned Eight Hundred One <br /> <br />Thousand and No/100 Dollars ($801,000.00) to the Redevelopment Agency <br /> <br />for a period of one (1) year for the purpose of assisting the low <br /> <br />income housing cooperative with repayment to be made out of tax <br /> <br />increment revenues; and <br /> <br />-1 ~ 3 <br />9Llfd. <br />RD-83-05 <br />