HomeMy WebLinkAboutReso 1998-18894 RESOLUTION NO. 18894
RESOLUTION OF THE CITY COUNCIL OF THE CiTY OF CHULA
VISTA AUTHORIZING THE MAYOR TO EXECUTE THE SECTION
108 APPLICATION TO HOUSING AND URBAN DEVELOPMENT
(HUD) TO AUTHORIZE $ 1 MILLION FOR FUNDING A CHULA
VISTA SMALL BUSINESS REVOLVING LOAN FUND PROGRAM
(RLF)
WHEREAS, Council previously approved hiring a consultant to develop a HUD Section
108 loan/loan guarantee program; and
WHEREAS, on August 5, 1997, Council approved the consultant's Phase I feasibility
findings and directed staff and the consultant to proceed with preparing the Section 108
application and developing a Small Business Revolving Loan Fund Program (RLF); and
WHEREAS, two public hearing were subsequently held to receive public comment on
the proposed amendment to the City's FY 1997/98 CDBG Consolidated Annual Plan to include
the RLF; and
WHEREAS, no comments were received and the Plan was amended accordingly and
the HUD presubmission requirements were completed.
.~-
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does
adopt this Resolution which authorizes the Mayor to execute the HUE) Section 108 Generic
Application to authorize $1 million for funding the proposed Chula Vista Small Business
Revolving Loan Fund Program.
Presented by Approved as to form by
Chris Salomone ny 22~
Community Development Director ~ ~
Resolution 18894
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 10th day of February, 1998, by the following vote:
AYES: Councilmembers: Moot, Padilia, Rindone, Salas and Horton
NAYES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
ATTEST:
~Authelet, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY C)F CHULA VISTA )
I, Beverly A. Authelet, City Clerk of the City of Chula Vista, California, do hereby certify that
the foregoing Resolution No. 18894 was duly passed, approved, and adopted by the City
Council at a regular meeting of the Chula Vista City Council held on the 10th day of February,
1998.
Executed this 10th day of February, 1998.
~Authelet, City Clerk