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<br />RES 0 !! u ! .! O! N O. <br /> <br />9790 <br /> <br />ORIGINAL <br />JAN 2 8 1985 <br /> <br />A RESOLUTION AMENDING RESOLUTION NO. 9750, <br />A RESOLUTION OF DETERMINATION AND OF INTENTION TO <br />UNDERTAKE PROJECT INCLUSIVE OF THE PROVISION OF <br />REVENUE FINANCING FOR MULTIFAMILY RENTAL HOUSING <br /> <br />(PARAGON - REDWOOD SHORES APARTMENTS) <br /> <br />WHEREAS, Paragon Group, Inc., has ascertained that the total <br />estimated project Cost of the Project which this Council determined <br /> <br />to undertake by its Resolution No. 9750, A Resolution of <br /> <br />Determination and of Intention to Undertake Project Inclusive of <br /> <br />the Provision of Revenue Financing for Multifamily Rental Housing, <br /> <br />adopted by this Council on December 10, 1984, is insufficient to <br /> <br />pay all Project Cost~ <br /> <br />NOW, THEREFORE ~ <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br />AS FOLLOWS: <br /> <br />1. The said Resolution is hereby amended by increasing the <br /> <br />total estimated Project Cost in accordance with the new estimate of <br /> <br />the Company, and by increasing the current estimate of the maximum <br /> <br />aggregate principal amount of revenue financing that it is the <br />intention of this Council to provide under the Financing Law for <br /> <br />the purpose of paying the Project Cost, to $31,000,000, and by <br /> <br />making corresponding changes in the form of notice attached to said <br /> <br />Resolution. <br /> <br />2. Except as provided hereby, the said Resolution No. 9750 <br /> <br />is hereby confirmed. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />MFH0008.RWC/1 <br /> <br />01/16/85 <br />,9790 <br />