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06/12/2017 <br />ORIGINAL <br />RESOLUTION NO. 15591 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY APPROVING FORGIVENESS OF TWO LOANS FOR A TOTAL <br />OF $507,000 IN COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS <br />MADE TO MID -PENINSULA COALITION BELLE HAVEN, INC. AND <br />MIDPEN HOUSING CORPORATION AND AUTHORIZING THE CITY <br />MANAGER OR DESIGNEE TO EXECUTE AGREEMENTS AND <br />RELATED DOCUMENTS NECESSARY TO COMPLETE THE LOAN <br />FORGIVENESS AND THE TRANSFER OF THE PROPERTY AND <br />RELATED TRANSITIONAL HOUSING FACILITY AT 110 LOCUST <br />STREET FROM MID -PENINSULA COALITION BELLE HAVEN, INC. TO <br />LIFEMOVES <br />WHEREAS, in 1986, the City of Redwood City (the "City") provided MidPen <br />Housing Corporation (formerly known as "Mid -Peninsula Coalition Housing Fund" and <br />"Mid -Peninsula Housing Coalition") and its affiliate Mid -Peninsula Coalition Belle Haven, <br />Inc. (together with MidPen Housing Corporation, "MidPen"), with an acquisition loan of <br />$452,000 from the City's Community Development Block Grant ("CDBG") entitlement at <br />0% interest with a maturity of 30 years (the "1986 Loan"); and <br />WHEREAS, in connection with the 1986 Loan, the County of San Mateo (the <br />"County") made a loan to MidPen in an amount of $108,900; and <br />WHEREAS, the 1986 Loan is secured by a Deed of Trust in favor of the City <br />and the County recorded against the Property (as defined below) as Instrument No. <br />86167253 in the Official Records of the County of San Mateo, State of California (the <br />"1986 Deed of Trust"); and <br />WHEREAS, in 1986, Mid -Peninsula Coalition Belle Haven, Inc. purchased the <br />Redwood Family House transitional housing facility for LifeMoves, formerly known as <br />Shelter Network and InnVision Shelter Network, to lease and operate; and <br />Page 1 of 5 <br />REV: 06-06-171S RESO. NO. 15591 <br />ATTY/RESO.0051/CC RESO REDWOOD FAMILY HOUSE TRANSITIONAL HOUSING LOAN FORGIVENESS MUFF NO. 454 <br />