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<br />RES 0 L UTI 0 N N O. <br /> <br />9 R94 <br /> <br />OR\G\AA\. <br />JUN 1 () 1985 <br /> <br />A RESOLUTION OF APPROVAL OF PROJECT <br />AND OF PROJECT OWNER <br /> <br />(PARAGON - REDWOOD SHORES PROJECT) <br /> <br />WHEREAS, by its Resolution No. 9750, as amended, A <br /> <br />Resolution of Determination and of Intention to Undertake Project <br /> <br />Inclusive of the provision of Revenue Financing for Multifamily <br /> <br />Rental Housing, adopted December 10, 1984, this Council stated its <br /> <br />intention, upon the proposal of Paragon Group, Inc., or designee, <br /> <br />to undertake the financing of the construction or development of <br /> <br />approximately 304 residential units (the "project") within the City <br /> <br />by the issuance of revenue bonds in principal amount estimated at <br /> <br />$31,000,000; <br /> <br />WHEREAS, a copy of a notice entitled "Notice of Public <br /> <br />Hearing-Proposal of Paragon Group, Inc. For Issuance of Estimated <br /> <br />$31,000,000 of Revenue Bonds for Multifamily Rental Housing" has <br /> <br />been published at least 14 days prior to the time of the hearing in <br /> <br />the Redwood City Almanac a newspaper of general circulation <br /> <br />available to residents of the City, and a copy of the notice is <br /> <br />attached hereto; and <br /> <br />WHEREAS, upon the designation of Redwood Shores Apartments <br /> <br />Associates, Ltd., a California partnership, is stated in such <br /> <br />notice as the initial owner of the project; <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> <br />AS FOLLOWS: <br /> <br />... ./44 <br />"\..:" 0 ~j <br />