HomeMy WebLinkAboutRedevelopment Agency - 249 RESOLUTION NO. "249-
A RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF HUNTINGTON BEACH APPROVING AND
AUTHORIZING EXECUTION AND DELIVERY OF A LOAN
_ AGREEMENT WITH RESPECT TO 313 11 TH STREET PROPERTY
BETWEEN THE REDEVELOPMENT AGENCY OF
THE CITY OF HUNTINGTON BEACH AND THE ORANGE COUNTY
COMMUNITY HOUSING CORPORATION
WHEREAS, the Redevelopment Agency of the City of Huntington Beach (the
"Agency") wishes to assist persons of low income to obtain housing at an affordable cost;
and
The Orange County Community Housing Corporation (OCCHC), a non-profit
organization, wishes to create affordable housing opportunities within the City of
Huntington Beach by purchasing a property at 313 11 th Street for use as a multi-family
housing project; and
In order to ensure the affordability of the housing units and to rehabilitate the
property, the OCCHC requires financial assistance from the Agency; and
The Redevelopment°Agency of the City of Huntington Beach currently administers
a redevelopment project in the City of Huntington Beach known as the Downtown
Redevelopment Project Area and the housing project will benefit the Project Area and is
consistent with the adopted Redevelopment Plan; and
The Agency is permitted under the laws of the State of California and under the
Redevelopment Plan to use housing set-aside revenues to loan money for development of
new affordable housing; and
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City
of Huntington Beach as follows:
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SECTION 1. The Redevelopment Agency hereby approves the appropriation of
Six Hundred Thirty-Five Thousand Dollars ($635,000) to be loaned to the OCCHC for
the purchase of 313 11 th Street for use as affordable housing.
SECTION 2. 'The Redevelopment Agency hereby approves the loan agreement
and related documents in substantially the form on file with the Agency Clerk together with
any immaterial changes therein or additions thereto deemed advisable by the Executive
Director and approved by the Agency Counsel. The Redevelopment Agency hereby
authorizes and directs the Executive Director to execute, and the Agency Clerk to attest
and affix the seal of the Agency to, said form of the loan agreement and related documents
for and in the name of the Agency.
SECTION 3. This Resolution shall take effect on the date of its passage and
adoption.
PASSED AND ADOPTED by the Redevelopment Agency of the City of
Huntington Beach at a regular meeting thereof held on the 20th day of December, 1993.
Chairman
ATTEST: APPROVED AS TO FORM:
4014X� a4
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Agency Clerk Agency Counsel I2��1j3
REVIEWS ND APPROVED: INITIATED AND APPROVED:
ecutive Director Redevelopment Director
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7dA
Res. No. 249
STATE OF CALIFIOEIM )
COUNTY OF ORANGE )
CITY OF HUNTINGTCN BEACH)
I, CONNIE BAO MM, Clerk of the Redevelopment Agency of the
City of Huntington Beads, California, DO HEREBY CERTIFY that the foregoing
resolution was duly adopted by the Redevelopment Agency of the City of
Huntington Beads at a meeting of said Redevelopment Agency held on the
20th day of December 19 93, and that it was so adopted
by the following vote:
AYES: Members:
Silva, Bauer, Robitaille, Moulton-Patterson, Winchell , Leipzig, Sullivan
NOES: Members:
None
ABSENT: Members:
None
Clerk of the Redevelopment of
the City of Huntington Bead, Ca.