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ORIGINAL <br /> AGREEMENT WITH KAINOS HOME & TRAINING CENTER <br /> FOR FUNDING TO ACQUIRE PROPERTY AT <br /> 1122 Valota Road (Pete's Place) <br /> THIS AGREEMENT is made and entered into this 20 day f a / 1/, . , <br /> Y <br /> 2010, by and between the CITY OF REDWOOD CITY, a municipal corpo Ition of the <br /> State of California ( "City "), and KAINOS HOME & TRAINING CENTER, a California <br /> non - profit public benefit corporation ( "Kainos "). <br /> WITNESSETH: <br /> WHEREAS, pursuant to Section 24 of the Code of Federal Regulations, Part 92, <br /> the United States Department of Housing and Urban Development ( "HUD ") HOME <br /> Investment Partnership Act Program ( "HOME ") provides funds to cities to assist private <br /> non - profit entities or public agencies to create and retain affordable housing through <br /> assistance with acquisition, rehabilitation, construction and renter assistance; and <br /> WHEREAS, pursuant to Section 24 of the Code of Federal Regulations, Part <br /> 570, HUD's Community Development Block Grant Program ( "CDBG ") also provides <br /> funds to cities to benefit low- and moderate - income persons by providing decent <br /> housing and a suitable living environment; and <br /> WHEREAS, the City's Consolidated Plan and Housing Element goals include <br /> expanding the supply of affordable special needs housing for Redwood City <br /> households; and <br /> WHEREAS, Kainos is a non - profit entity authorized by the State of California to <br /> provide care and services to persons with developmental disabilities; and <br /> WHEREAS, Kainos proposes to acquire residential property to be used to <br /> provide housing for extremely low income individuals with developmental disabilities; <br /> and <br /> WHEREAS, Kainos has an option to purchase certain property located at <br /> 1122 Valota Road, in the City of Redwood City, California, as more particularly <br /> described in the "Legal Description of the Property," attached hereto as Exhibit A (the <br /> "Property "); and <br /> WHEREAS, Kainos has applied for funding assistance under the City's HOME <br /> Program and CDBG Program to acquire the Property; and <br /> WHEREAS, the City Council has allocated Two Hundred Two Thousand Eighty - <br /> Five and 22/100 Dollars ($202,085.22) in CDBG funds and One Hundred Ninety -Seven <br /> Thousand Nine Hundred Fourteen and 78/100 Dollars ($197,914.78) in HOME funds <br /> toward the acquisition of the Property; and <br /> ATTY /AGR/2010,083 1 <br /> 091610 <br />