HomeMy WebLinkAboutCC RESO 13,250RESOLUTION NO. 13,250
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL
CITY, CALIFORNIA MAKING CERTAIN FINDINGS AND DETERMINATIONS,
AUTHORIZING CERTAIN AMENDMENTS TO AN AGREEMENT AND NOTE
WITH THE COMMUNITY DEVELOPMENT COMMISSION AND AUTHORIZING
AND ALLOCATING FUNDS THEREFOR
WHEREAS, the City Council, by adoption of Resolution No.
12,795 on July 18, 1978, authorized an agreement and note with the
Community Development Commission of the City of National City; and
WHEREAS, said agreement and note (SBT&CP) was not actually
funded by the City; and
WHEREAS, the Community Development Commission now Ias need
of such funds ($100,000) and the California Community Redevelopment
Law at Sections 33334.2 and 33334.3 encourages the use of taxes
allocated to a redevelopment project for the purposes of rehabilitating
and otherwise improving buildings or structures owned and occupied by
persons of moderate and low income;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of National City, as follows:
(1) The agreement and note executed by the City of
National City and the Community Development Commission of the City
of National City, (SBT&CRP), dated July 18, 1978 is hereby amended
to increase the rate from 6% to 8% and to lengthen the repayment term
from July 15, 1981 to July 15, 1984.
(2) The City Manager and Treasurer are authorized and
directed to fund the $100,000 provided for in the agreement and note
at the earliest feasible date.
(3) It is hereby found and determined that the use of
said $100,000 outside of the South Bay Town & Country Project area
for low and moderate income housing purposes is and will be of benefit
to the South Bay Town & Country Redevelopment Project.
(4) Said funds shall be deposited by the Community
Development Commission of the City of National City in an account
to be entitled "Low and Moderate Income Housing Fund" and the
Community Development Commission shall use such funds in conformity
with Section 33334.2 of the California Community Redevelopment Law.
PASSED AND ADOPTED this 19th day of February, 1980.
Kile Morgan,ayor
ATTEST:
Io a Campbell, Cit / Clerk