HomeMy WebLinkAboutRedevelopment Agency - 325 RESOLUTION NO. 325
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
HUNTINGTON BEACH APPROVING THE APPLICATION FOR A LOAN FROM THE
CALIFORNIA HOUSING FINANCE AGENCY AND AUTHORIZING THE
CHAIRMAN OF THE BOARD TO EXECUTE THE NOTE AND ALL OTHER
DOCUMENTS NECESSARY IN CONNECTION THEREWITH
WHEREAS, the California Housing Finance Agency("CHFA") is currently accepting
applications from local government for the Housing Enabled by Local Partnerships ("HELP")
program to fund affordable housing programs; and
The Redevelopment Agency of the City of Huntington Beach is desirous of applying for
a loan from the California Housing Finance Agency(CHFA) in an amount of One Million
.Dollars ($1,000,000.00); and
Said loan is to be utilized for the purposes of developing or rehabilitation of affordable
housing within the City of Huntington Beach; and
In order to submit an application for this funding, a resolution executed by the local
government agency authorizing participation on its behalf is required,
NOW, THEREFORE, the Redevelopment Agency of the City of Huntington Beach does
hereby resolve as follows:
1. That the Deputy Executive Director is hereby authorized to execute all documents
related to the application to CHFA for HELP Program funds for affordable housing programs.
2. That the Chairman of the Board of the Redevelopment Agency of the City of
Huntington Beach is hereby authorized to execute the loan documents required by CHFA and
any other documents approved as to form by the Agency's Legal Counsel relating thereto and
consistent therewith.
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RLS 2001-0690
Res. No. 325
3. That the loan applied for under the aforementioned program will not exceed One
Million Dollars ($1,000,000.00), at a rate of 3% simple interest per annum, with repayment in
full no later than 10 years from the execution of the loan documents.
4. That the Deputy Executive Director is authorized to take such actions as may be
necessary to facilitate and implement the program.
PASSED AND ADOPTED by the Redevelopment Agency of the City of Huntington
Beach at a regular meeting thereof held on the 171" day of September, 2001.
Chairm n
ATTEST: APPROVED AS TO FORM:
'Y- 7 r
Agency Clerk ay-�=o1 Agency General Counsel
✓GIB 101
REVIEWED AND APPROVED INITIATED AND APPROVED
Executi irector Deputy Executive Director
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PDA:2001 resolutions:California Housing Finance
RLS 2001-0690
Res. No. 325
STATE OF CALIFORNIA ) .
COUNTY OF ORANGE ) ss
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 a regular
meeting of said 'Redevelopment Agency held on the 17th day of
September, 2001 and that it was so adopted by the following vote:
AYES: Green, Boardman, Cook, Julien Houchen, Garofalo, Dettloff,
Bauer
NOES: None
ABSENT: None
ABSTAIN: None
Clerk of the Redevelopment Agency
of the City of Huntington Beach, CA