HomeMy WebLinkAboutRedevelopment Agency - 283 RESOLUTION NO. 283
A RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF HUNTINGTON BEACH
AUTHORIZING FUNDING SUPPORT FOR
RETIREMENT HOUSING FOUNDATION
TO CONSTRUCT AN AFFORDABLE HOUSING PROJECT
WHEREAS, the Redevelopment Agency of the City of Huntington Beach(the Agency)
has State mandates to construct affordable housing; and
Affordable housing is needed to provide housing for our citizens; and
Retirement Housing Foundation(RHF)has identified a project site known as the Bowen
Court Project; and
RHF will need to acquire funding assistance from the Federal Section 202 program; and
The Agency's funding assistance is required and has been requested by RHF to construct
the Project; and
Based on the funding assistance, the Agency will require a Disposition and Development
Agreement(DDA) for regulation of the Project; and
A funding commitment from the Agency is necessary to allow RHF to apply for the
Federal Section 202 program; and
The Agency's funding assistance is available, conditioned upon: 1) RHF receiving
Federal Section 202 program funds, and 2) RHF reaching agreement with the Agency on the
DDA.
NOW, THEREFORE, the Redevelopment Agency of the City of Huntington Beach does
hereby resolve as follows:
1. That a grant, or a reduced sales price of approximately $885,000 in Agency-
owned land and loan of$215,000 in housing set aside funds as a residual receipts loan (terms to
be negotiated) is committed to this Project, conditioned as indicated above.
2. That the Executive Director is hereby authorized and directed to assist RHF in its
Section 202 application and to execute any and all documents on behalf of the Agency as
necessary or appropriate thereto.
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RLS 97-535
7/9/97
Resolution 283
PASSED AND ADOPTED by the Redevelopment Agency of the City of Huntington
Beach at a regular meeting thereof held this 21st day of July
-1997.
Chairman
ATTEST: APPROVED AS TO FORM:
Agency Clerk 7 ��/q 7 C1/ Agency Attorney
REVIEWED AND APPROVED: T I IATED AND APPROVED:
Assistant Executive Directory Di ctor of Economic Development Z
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RLS 97-535
7/9/97
Res. No. 283
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF HUNTINGTON BEACH )
I, CONNIE BROCKWAY, Clerk of the Redevelopment Agency of
the City of Huntington Beach, California, DO HEREBY CERTIFY that the
foregoing resolution was duly adopted by the Redevelopment Agency of the City
of Huntington Beach at an adjourned regular meeting of said Redevelopment
Agency held on the 21st day of July, 1997 and that it was so adopted by the
following vote:
AYES: Harman, Dettloff, Bauer, Sullivan, Green
NOES: Garofalo
ABSENT: None
ABSTAIN: Julien
zlo<�
Clerk of the Redevelopmelff Agency
of the City of Huntington Beach, Ca.
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