HomeMy WebLinkAboutCC RESO 92-61RESOLUTION NO. 92-61
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
This Resolution was held over at the City Council
Meeting of April 21. 1992.
DATE: _April 27. 1992
Lori Anne Peopl
City Clerk
AI + Adopla
RESOLUTION NO. 92-61
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
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Resolution No. 92-61
Page 2 of 2
PASSED and ADOPTED this 21st day of April, 1992.
George H. Waters, Mayor
ATTEST:
Lori Anne Peoples
City Clerk
APPROVED AS TO FORM:
GeoiM
rge H. Eiser, III
City Attorney