HomeMy WebLinkAboutCC RESO 2011-205NOT ADOPTED
RESOLUTION NO. 2011-205
A "RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF NATIONAL CITY AUTHORIZING
IN APROPRIATION OF $4,000,000 TO
ALLOCATE FUNDS PURSUANT TO THE
DISPOSITION AND DEVELOPMENT
AGREEMENT WITH PARADISE CREEK
HOUSING PARTNERS, LLP, AS APPROVED
BY CITY COUNCIL RESOLUTION NO. 2011-136.
(Development Services / Engineering)
This Resolution was not adopted at the City Council /
Community Development Commission Adjourned
Regular Meeting of September 27, 2011.
September 28, 2011
ichael R. Dalla, CMC
City Clerk
City of National City
NOT ADOPTED
RESOLUTION NO. 2011 — 205
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY
AUTHORIZING AN APPROPRIATION OF $4,000,000 TO ALLOCATE FUNDS
PURSUANT TO THE DISPOSITION AND DEVELOPMENT AGREEMENT
WITH PARADISE CREEK HOUSING PARTNERS, LLP, AS APPROVED
BY CITY COUNCIL RESOLUTION NO. 2011-136
WHEREAS, on June 21, 2011, the City Council adopte
136, approving the Disposition and Development Agreement ("DDA"
Housing Partners, LP wherein the City pledged $6,000,000 from t
522), and $14,957,000 from the 2011 Tax Allocation Bond (Hou
$20,957,000.00 in order to fund the Westside Infill Transit-Orie
Project; and
No. 2011-
Creek
count (Fund
), for a total of
ent ("WI-TOD")
WHEREAS, during the budget process for = Ca• '';.. provement Program
("CIP"), the Council approved appropriating $2,000,000 > he Lo',Mod Account (Fund 522)
and $15,000,000 from the 2011 Tax Allocation Bond < ) (Fund 524), for a total of
$17,000,000 for the WI-TOD Project; and
WHEREAS, an appropriation of to the CIP from the Low/Mod Fund
Af)JC
522 is necessary to allocate funds pursuant to t ..DDA h Paradise Creek Housing Partners,
LLP, as approved by City Council Resolutio • o `»;r, h fi6.
NOW, THEREFORE, B ED that the City Council of the City of
National City hereby authorizes an appro : • nx' the Capital Improvement Program of
$4,000,000 from the Low/Mod Fun •,;<a.... to a `:?'`e funds pursuant to the Disposition and
Development Agreement with Para= ;> : ,: ousingPartners, LLP, as approved byCity
9;1�...pa PP
Council Resolution No. 2011-136.
PASSED an .;=:: IOPTEit is 27th day of September, 2011.
Ron Morrison, Mayor
ATTEST:
Michael R.
APPROVED AS TO FORM:
Claudia Gacitua Silva
City Attorney