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ORIGINAL 2/9/98 ORDINANCE NO. 2137 ORDINANCE OF THE CITY OF REDWOOD CITY RELATING TO THE FINANCING OF MIXED-USE SENIOR RESIDENTIAL AND HEALTH CARE FACILITIES WITHIN SAID CITY IN THE INTERESTS OF THE PUBLIC HEALTH, SAFETY AND WELFARE The Council of the City of Redwood City does ordain as follows: Section 1. Findings and Determinations. The City Council of the City of Redwood City hereby finds and determines as follows: A. Nonprofit public benefit corporations providing mixed-use residential and health care related facilities for persons 55 years of age and older, a portion of which will be made available to very low and low and moderate income persons, serves a vital and compelling oPUblic interest of the City of Redwood City and promotes the public health, safety and welfare f the City by improving the mental and physical health and well-being of the City's residents residential and health care related pro,rams, mouamg pro.grams rot very ~ow ano ~ow ano moderate income persons. B. Assisting nonprofit public benefit corporations in the financing of mixed-use residential and health care related facilities for persons 55 years of age and older is for the common benefit of the City and its residents and famih'es and is necessary and proper for municipal powers within the terms of Section 3 of the Charter of Redwood City in that such assistance will allow nonprofit public benefit corporations to provide essential mixed-use residential and health care related services and facilities to persons 5~ years of age and older, including very low income and Iow and moderate income persons, and will allow nonprofit public benefit corporations to contain the costs for such mixed-use residential and health care related services and facilities, thereby enabling nonprofit public benefit corporations to maintain reasonable rents, rates and charges and to provide b~tter service at such rents, rates and charges. C. Encouraging nonprofit public benefit corporations to provide mixed-use residential and health care related facilities for persons 55 years of age and older ~ursuant to this Ordinance (1) will promote the health, safety and welfare of the City, including those public condition of the communit.y thereby, and (2) consti.tu, tes_a, m ,unmoral a~ra~., of tn~e ~lry..o.r Redwood City, a valid exe~ of the police powers of the City o! Keowooa ~.,lty, aha a puDnc purpose in which the City of Redwood City has a peo~ltar a~d Rniq~e interest. Section 2. 1~_9..~. Unless the context otherwise requires, the following definitions shall govern tl~ comt~action of this Ordinance: "Acquisition" and its variants means acquisition, construction, improvement, furnishing, equipping, remodeling, repair, reconstruction or rehabilitatior~ · "Admir~trative Expenses" means ali reasonable and necessary expenses incurred by the City in the administration of the provisions of this Ordinance with respect to a particular Project and the financing thereof, including without limitation compensation to City agents, officers, employees and staff, fees and expenses of paying agents, trustees, bond counsel and financing consultants, and costs of printing and advertising, administrative fees for the