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.... SWC:mf 4/25/83 <br /> SWC:djg-c 8/17/83R <br /> <br /> ORIGINAL <br /> RESOLUTION NO. 9423 <br /> AUG 22 1983 <br /> RESOLUTION NO. RD-83-05 RD 83-05 <br /> <br /> CONCURRENT RESOLUTION OF THE COUNCIL OF THE CITY OF <br /> REDWOOD CITY AND THE REDEVELOPMENT AGENCY OF THE CITY <br /> OF REDWOOD CITY APPROVING AND AUTHORIZING LOAN OF CITY <br /> FUNDS TO REDEVELOPMENT AGENCY FOR LOW INCOME HOUSING <br /> COOPERATIVE <br /> <br /> WHEREAS, pursuant to Resolution No. 9126, adopted May 24, 1982, <br />the City Council approved and authorized execution of an agreement <br />with the County of San Mateo whereby the County has loaned to the City <br />the sum of $200,000 from Community Development Block Grant funds to be <br />used for the low income cooperative housing project; and <br /> <br /> WHEREAS, past expenditures on behalf of the cooperative have been <br />made by the Redevelopment Agency and it is the desire of the City and <br />the Agency that such funding continue to be made by the Agency; and <br /> <br /> WHEREAS, it is the intent of the Council to loan the sum of <br />$200,000 to the Agency for the above stated purpose, and it is the <br />intent of the Agency to repay such amount to the City from tax <br />increment funds of the Agency; and <br /> <br /> WHEREAS, pursuant to Concurrent Resolution No. 9065 and No. <br />RD-82-04, adopted March 8, 1982, the City loaned Eight Hundred One <br />Thousand and No/100 Dollars ($801,000.00) to the Redevelopment Agency <br />for a period of one (1) year for the purpose of assisting the low <br />income housing cooperative with repayment to be made out of tax <br />increment revenues; and <br /> <br /> 94%3 <br /> RD-83-05 <br /> <br /> <br />