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HomeMy WebLinkAboutCC RESO 92-73RESOLUTION NO. 9 2 - 7 3 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY AUTHORIZING AND APPROVING THE FILING OF AN APPLICATION FOR A HUD SECTION 108 GUARANTEED LOAN IN THE AMOUNT OF $600,000 FOR ASSISTING IN FINANCING THE CONSTRUCTION OF AN OUTPATIENT SERVICES FACILITY ON PARADISE VALLEY HOSPITAL OWNED LAND WHEREAS, the City Council, as part of the CDBG Program 1992- 1993 public hearings, determined to request the Community Development Commission of the City of National City, California (CDC), to assist the City in obtaining a HUD Section 108 Guaranteed Loan in the amount of $600,000 to assist in the construction of an outpatient facility on Paradise Valley Hospital owned property; and WHEREAS, the outpatient facility will improve the delivery of medical services to National City people and it will increase employment during construction and on a permanent basis; and WHEREAS, the total cost of the loan, including interest, over a six year period, is estimated at $768,000; and WHEREAS, an Application has been prepared by the Executive Director of the CDC and the City Council wishes to proceed with the Application in order to obtain the loan in September, 1992. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of National City that the Mayor is hereby authorized, on behalf of the City Council, to sign and date the Application to the U.S. Department of Housing and Urban Development for a Section 108 Loan of $600,000 to assist in construction of the Paradise Valley Hospital Outpatient Facility and the Mayor is further authorized to sign and date the statements and certifications which are a part of the Application. Continued on Page Two Resolution No. 92-73 Page 2 of 2 PASSED and ADOPTED this 5th day of May, 1992. George H. rters, Mayor ATTEST: Lob Anne Peoples City Clerk APPROVED AS TO FORM: George H. Eiser, III City Attorney