HomeMy WebLinkAboutCC RESO 2008-166RESOLUTION NO. 2008 — 166
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF NATIONAL CITY RECOGNIZING
APPROXIMATELY $2.9 MILLION IN CDBG PROGRAM
INCOME, AUTHORIZING PAYMENT OF THE ACCRUED INTEREST
TO THE UNITED STATES TREASURY DEPARTMENT, AND
AUTHORIZING THE FINANCE DIRECTOR TO TAKE THE
NECESSARY ACTIONS TO INITIATE THE PUBLIC PARTICIPATION
PROCESS FOR THE REMAINING BALANCE OF FUNDS
WHEREAS, the Rental Rehabilitation Program ("Program"), funded by CDBG,
has been administered by the Community Development Commission of the City of National City
("CDC") since the early 1970's; and
WHEREAS, with the consolidation of CDC and City operations, a review of the
Program was conducted, and approximately $2.5 Million in Program income has been identified;
and
WHEREAS, staff has estimated that approximately $400,000 of CDBG funds are
remaining from the Section 108 Loan proceeds; and
WHEREAS, the total CDBG funds available is approximately $2.9 Million; and
WHEREAS, the City has been advised by the U.S. Department of Housing and
Urban Development (HUD) to calculate the accrued interest on the $2.9 Million, and remit
payment to the U.S. Treasury Department.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
National City hereby recognizes the $2.9 Million in CDBG Program income, and authorizes
payment of the accrued interest to the U.S. Treasury Department.
BE IT FURTHER RESOLVED that the City Council hereby authorizes the City
Manager or his designee to initiate the Public Participation Process for the remaining balance of
CDBG funds.
PASSED and ADOPTED this 19th day of Aug08.
ATTEST:
Ifth
i'/L'lMic. Dalla, Cit Clerk
APPROVED AS TO FORM:
S
George H. Eiser, Ill
City Attorney
on Morrison, May
Passed and adopted by the Council of the City of National City, California, on August
19, 2008 by the following vote, to -wit:
Ayes: Councilmembers Morrison, Natividad, Parra, Ungab, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Mayor of the City of National City, California
City Clerk of the City of National City, California
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2008-166 of the City of National City, California, passed and
adopted by the Council of said City on August 19, 2008.
City Clerk of the City of National City, California
By:
Deputy