CC Resolution No. 6948
RESOIIJTION NO. 6948
A RESOIIJTION OF THE CITY' CXJUNCIL OF THE CITY' OF CUPERI'INO
ALLOCATING $10,000 OF THE SENIOR crrrZEN HOOSJNG FUND
'IO CXM1lJNITY HOOSING DEVEIDPERS FOR IDRKING DRAWINGS
'IO REKlDEL AND EXPAND AN EXISTING RESIDENCE IDCATED AT
19147 ANNE IANE
WHEREAS, the Senior citizen Housing Fund was created with Community
Development Block Grant Monies; and
WHEREAS, the purpose of the fun:l is to support housing projects for
lr::M and moderate income senior citizens and harrlicapped individuals; and
WHEREAS, the subject project was originally reviewed by the City
Council in conjunction with allocation hearings for the 'lWelfth Year
Community Development Block Grant and the applicant was directed to
approach the Council again at a later date; and
WHEREAS, the subject project will provide one new rental unit for
harrlicapped persons and :iJI1prove the livability of the house for the
existing seven disabled residents.
NOO, 'mEREFORE, BE: rr RESOLVED that the city of CUpertino hereby
allocates $10,000 of the Senior Citizen Housing Fund to Community Housing
Developers to develop working drawings for the expansion and remodel of an
existing residence for disabled persons. The fun:ls are provided as a zero
interest, 15 year deferred loan. The loan shall be renegotiated in 15
years and a repayment schedule established based on the beneficiary's
ability to repay the loan. The loan shall be repayed inunediate1y upon
sale of the house.
PASSED AND AOOPI'ED this
fOllr::Ming vote:
2nd
day of September, 1986, by the
CITY' <XJONCIL MEMBERS
AYES:
NOES:
Gatto, Johnson, Plungy, Sparks, Rogers
None
None
None
ABSTAIN:
ABSENT:
A'ITEST:
APPROVED:
/s/ Rob~rta A. Wolfe
Deputy City Clerk
/s/ Barbara A. Rogers
Mayor
RESRFP(B-6)lvm