HomeMy WebLinkAboutRES NO 35-00RESOLUTION NO. 3 5 ' 0 0
RESOLUTION APPROVING THE SUBMISSION OF AN
APPLICATION FOR A LOAN FROM THE CALIFORNIA
HOUSING FINANCE AGENCY AND AUTHORIZING THE
CITY MANAGER TO EXECUTE ALL NECESSARY
DOCUMENTS.
WHEREAS, the California Housing Finance Agency ("CHFA") has developed a loan
program (Housing Enabled by Local Partnerships --"HELP") whereby local governmental
entities can apply for Iow-interest loans to provide "affordable" housing; and
WHEREAS, CHFA makes available TEN MILLION DOLLARS ($10,000,000.00) of
loan funds each application cycle and each local governmental entity can apply for up to
TWO MILLION DOLLARS ($2,000,000.00); and
WHEREAS, proceeds of the loan will be used to assist in the creation of"affordable"
housing in the City of Bakersfield; and
WHEREAS, CHFA's HELP program requires the local governmental entity to
authorize a particular person to sign the application and all other documents and commit
the necessary resources to ensure the loan will be repaid and the "affordable" housing will
be developed.
NOW, THEREFORE, BE IT RESOLVED, incorporating the above recitals herein,
by the Council of the City of Bakersfield as follows:
That the filing of an application for Two Million Dollars of CHFA's "HELP"
loan funds is approved; and
That the City of Bakersfield City Manager or his/her designee is the agent of
the City of Bakersfield to execute and submit all documents including, but not
limited to, the application, loan agreement, amendments, and so on, which
may be necessary for the completion of the aforementioned application
process and ensure that the "affordable" housing is developed.
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I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by the
Council of the City of Bakersfield at a regular meeting thereof held on
APR 1 ~ 2000 , by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
COUNCILMEMBER CARSON, DEMOND, MAGGARD, COUCH, ROWLES, SULLIVAN, SALVAGGIO
COUNCILMEMBER I~O 1~'~.,
COUNCILMEMBER I,,I Ot~ ~,
COUNCILMEMBER J',~ O ~
ITY CLERK and Ex Officio Clerk of the
ouncil of the City of Bakersfield
APPROVED
APR 1~ 2000
By
Mayor
APPROVED AS TO FORM:
BART J. THILTGEN
City Attorney
~ JANICE SCANLAN
Deputy City Attorney
March 31, 2000
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OR~G~AL