HomeMy WebLinkAboutRES NO RA1-03r..
RESOLUTION NO. R A 1 A 03
A RESOLUTION OF THE BAKERSFIELD
REDEVELOPMENT AGENCY APPROVING THE
SUBMISSION OF AN APPLICATION FOR A LOAN FROM
THE CALIFORNIA HOUSING FINANCE AGENCY AND
AUTHORIZING THE EXECUTIVE DIRECTOR OR
DESIGNEE TO EXECUTE ALL NECESSARY
DOCUMENTS.
WHEREAS, the California Housing Finance Agency ( "CaIHFA ") 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, CaIHFA 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 Southeast Redevelopment Project Area, more specifically,
the Citywalk Housing Project; and
WHEREAS, CaIHFA'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 Bakersfield Redevelopment Agency as follows:
That the filing of an application for Two Million Dollars of CaIHFA's "HELP"
loan funds is approved; and
2. That the Executive Director or his /her designee is the agent of the
Bakersfield Redevelopment Agency and authorized 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.
Ate ENCY
Page 1 of 2 Pages ORIQIONAL
0.
M
I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by
the Bakersfield Redevelopment Agency at a regular meeting thereof held on
APR 12003 , by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
MISHOE, PRINCE, DAVENPORT, COHEN, MARTIN , RAPHAEL, 6GWRA00e-r4
APPROVED: APR 12003
THOMAS MISHOE
CHAIRPERSON
BAKERSFIELD REDEVELOPMENT
AGENCY
APPROVED AS TO FORM:
BART J. THILTGEN
GENERAL COUNSEL
✓� JANICE SCANLAN
Deputy City Attorney
S: Wgreemenhchfahelpapp. DOC
March 26, 2003
SECRETARY of the ersfield
Redevelopment Agency
Page 2 of 2 Pages
AG EtVCY