CC Resolution No. 7142
RESOwrIOO NO. 7142
A RESOwrIOO OF '!HE CI'lY CXXJNCIL
OF '!HE CI'lY OF aJPERl'INO, CALIFORNIA
AtJlH)RIZING APPROPRIATIOO OF PIœEEDS :m:M '!HE
SENIOR CITIZENJHANDlCAPPED PERSONS H:XJSING PUND
FOR cx:MPIEl'IOO OF VARIOOS TECHNICAL ~
WHEREAS, the city 0:Jun0il of the city of OIpertino has
established a fuIñ for the p.¡xpcses of effect::in;J loans to non-profit
housin;J providers for purposes of developin;J affordable rental housin;J
units within the city; aIXi
WHEREAS, the city CounCil, on Dec::enIDer 15, 1986, authorized
c:i=lation of a Request for PropoSal to non-profit housin;J providers
invitin;J presentation of fun::1i.n;J requests for projects which fulfill the
program objectives of the City's affordable housin;J program; aIXi
WHEREAS, the PropoSal by o:mummity Housin;J Developers, Inc. for
a loan of $315,500 :frail said Fun:i for purposes of acquiring aIXi
rehabilitatin;J two existin;J foorplexes as apartments for senior citizen
occupants on a shared livin;J basis was fOl1l'd to fulfill said program
objectives, but was also judged to be i1'x::œplete in regard to certain
technical information;
NOO', 'lliI:a<ßFORE, '!HE CI'lY CXXJNCIL OF '!HE CI'lY OF C1Jk'~O
RESOLVES AS roUOOS:
SECI'IOO ONE: '!here is hereby appropriated fram the
seniorjHarxiicapped Affordable Housing Fun:i loan proceeð'" in the ærount of
$315,500 to canummity Housin;J Developers for acquisition aIXi
rehabilitation of two (2) four-plex buildi.n:Js located at 20651 aIXi 20653
Park circle East, OIpertlno, California as affordable rental housing for
senior citizen occupants, as generally described in their proposal to the
City of 0Ipertin0 dated March 16, 1987.
SECI'IOO rm:>: '!here is hereby appropriated fram the
SeniorjHaIñicapped Affordable Housin;J Fun:i an amount for rei.Jnbur'sen'o to
(;nnmn11'Ù.ty Housin;J Developers for actual c:œts incurred, not to exceed
$1,500.00, for CCII1pletion of the followiJ'r;J reports:
_ Imepen:Ient structural 8n3'ineer's report to determine existin;J
physical con:tition of the buildi.n:Js aIXi fitness for
rehabilitation as senior citizen apartments. structural
evaluator to be selected in accordance with City staff
approval.
'lhe information in said cx:mq;>leted report shall be evaluated by the
Deparbnent of Plarmin;r an:i Developnent. 'lhe appropriation des=:ibed in
Section One of this Resolution shall be considered in effect without
contin;Jencies upon satisfactOJ:y evaluation of said report by the
Deparbnent of Plarmin;r an:i Developnent. Should said report disclose
significant structural problems, said appropriation shall be subject to
final review by the city Council at a date uncertain.
SECl'ION 'IHREE: 'lhe actual tams of the loan des=:ibed in section
One shall be subject to execution of appropriate len:iirq contracts an:i
dOCl1m..T\tation prepared by the loan recipient. Said documents shall be
reviewed an:i awrcved by the City Attorney. Con:titions of said loan shall
be secured by a Deed of Trust.
SECl'ION FOOR: 'lhe Director of Finance is hereby instructed to
establish appropriate accounts for dispersal of loan fun:1s an:i for receipt
of principal repayment llaÙ.es.
SECI'ION FIVE: In the event that o::mummity Housin;J Developers is
unable to acquire the property needed to cc::mq;¡lete the group care facility
as des=:ibed in said proposal, or for any other reason is unable to
1.II'Œrtake the project within ninety (90) days of the effective date of
this resolution, said appropriation may be revoked by action of the city
Council at future regular meeting, as an item of old business.
PASSED AND AOOPl'ED this 6th day of April, 1987 at a regular meetin;J of the
City Council of the city of ClIpertino, state of California, by the
followin;¡' vote:
AYES: Gatto, Pluny, Rogers, Sparks
NOES: None
ABSTAIN: None
ABSENT: Johnson
ATI'EST:
APPRJVED:
/s/ D:>rothv Cornelius
D:>rothy Cornelius
City Clerk
/s/ W. Reed SDarks
W. Reed Sparks, Mayor
City of CUpertino