AgdaPkt 2013-07-22 - Laserfiche WebLink

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6.3.A. - Page 4 RESOLUTION NO. RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING AND AUTHORIZING EXECUTION OF AGREEMENT IN CONNECTION WITH THE ACQUISITION OF PROPERTY LOCATED AT 105 5T" AVENUE FOR AFFORDABLE HOUSING DEVELOPMENT (MENTAL HEALTH ASSOCIATION OF SAN MATEO COUNTY) WHEREAS, pursuant to Section 570.201 of the Code of Federal Regulations for the Community Development Block Grant Program (CDBG) Program, funding assistance may be used to fund eligible activities to be carried out by private non-profit entities which are duly organized to undertake affordable housing development or public agencies; and WHEREAS, in consideration for providing the CDBG funds or the use of the proceeds thereof, Mental Health Association of San Mateo County (MHA) has agreed to record a certain Declaration of Affordability Covenants in the form attached hereto as Exhibit "B" (the "Affordability Covenants") on the Property, which Affordability Covenants shall provide that the Project will be CDBG- assisted and restricts income and rent of the CDBG- assisted units such that this Project remain continuously affordable to low income persons for a specified period of time; and WHEREAS, the City's Consolidated Plan and Housing Element goals include expanding the supply of affordable housing; and WHEREAS, MHA provides certain services through programs, including the program described in Exhibit "A" ("Program & Project Description"), attached hereto and made a part hereof; and WHEREAS, MHA has applied for funding assistance under the CDBG Program to acquire property located at 105 5t" Avenue in unincorporated City of Redwood City to be used to build affordable permanent supportive housing for very low income disabled adults; and WHEREAS, on July 22, 2013 the City Council of Redwood approved Four Hundred Thousand and no/100 Dollars ($400,000.00) in CDBG funds for MHA acquisition of the property. ATTY/RES0.2889/MHA ACQUISITION REV: 07-12-13 VR Page 1 of 2