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<br />~ ~ ~ Q !! Q ! ! Q!! N o. 9 7 5 0 <br /> <br />ORIGINAL <br />DEe 1 0 1984 <br /> <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., or designee (the "Company"), <br /> <br />has proposed that the City aid in obtaining multifamily rental <br /> <br />housing revenue financing of certain identifiable facilities to be <br /> <br />located in the City, by the issuance by the City of multifamily <br /> <br />rental housing revenue bonds under Division 31, Part 5, Chapter 4 <br /> <br />(commencing with Section 52030) and Chapter 7 (commencing with <br /> <br />Section 52075) of the Health and Safety Code or other law <br /> <br />applicable at the time of the financing (the "Financing Law"): and <br />WHEREAS, the Company has requested that this Council make <br /> <br />the determinations required by the Financing Law: <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> <br />AS FOLLOWS: <br /> <br />I. A br ief summary of the proposed project (the "Project") <br />is set forth in the form headed Notice of Public Hearing attached <br /> <br />hereto (the "Notice") and said description is hereby incorporated <br /> <br />by reference herein. <br /> <br />The Company proposes that the real and <br /> <br />personal property (the "Facilities") to be constructed, developed <br /> <br />or provided by means of the Project be used as multifamily rental <br /> <br />housing, including necessary capital improvements for such multi- <br /> <br />family rental housing. <br /> <br />9750 <br /> <br />MFH0006.RWC/l <br /> <br />12/06/84 <br />