HomeMy WebLinkAboutRES NO 119-00RESOLUTION NO. ~- ~. 9 '= 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 CCHFA") has developed a
loan program (Housing Enabled by Local Partnerships - - "HELP") whereby local
governmental entities can apply for low-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 no limited to, the application, loan agreement, amendments, and so
on, which may be necessary for the completion of the aforementioned
application arocess and ensure that the "affordable" housing is developed.
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OR~GiI~,AL
I HEREBY CERTIFY that the ~r.3regoing Resolution was passed and adopted by
the Council of the City of Bakersfield at a regular meeting thereof held on
SFP ~7 200~] , by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
COUNCILMEMBER CARSON, DEMOND, MAGGARD, COUCH, GREEN, SULLIVAN, SALVAGGIO
COUNCILMEMBER j~3 o
COUNCILMEMBER k]
COUNCILMEMBER f, Jo I'~_._
Council of the .City of Bakersfield
APPROVED SEP g7 ~0~13
MAYOR of Bakersfielc~
APPROVED as to Form:
BART J. THILTGEN
City Attorney
By: ~CANLAN
Deputy City Attorney
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