HomeMy WebLinkAboutOrd 1983-20400671F JHHW:CFA:dfd 6/03/83
ORDINANCE NO. 2040
ORDINANCE OF THE CITY OF CHULA VISTA
RELATING TO THE FINANCING OF
RESIDENTIAL RENTAL PROPERTIES
WHEREAS, the City Council of the City of Chula Vista has heretofore
adopted its Ordinance No. 1970 on February 9, 1982, entitled "Ordinance of the
City of Chula Vista Relating to the Financing of Industrial and Commercial
Development Within Said City in the Interests of the Public Health, Safety and
Welfare" <the "Ordinance");and
WHEREAS, the Ordinance authorizes the financing of certain industrial
and commercial development within the City of Chula Vista, and the City
Council wishes at this time to amend the Ordinance to provide for the
financing of certain multifamily residential development within the City;
BE IT ORDAINED by the City Council of the City of Chula Vista that the
definition of the term "Project" in Section 2 of the Ordinance be amended in
its entirety to read as follows:
Project
'Project' means real property located within the City and
improved with an industrial or commercial structure, and all
property in connection therewith or incidental thereto,
including machinery, equipment and furnishings, the
acquisition of which is financed or otherwise assisted
pursuant to this Ordinance. 'Project' also includes
residential real property for family units as described in and
within the meaning of Section 103<b)(4)<A) of the Internal
Revenue Code of 1954, as amended, and regulations and rulings
thereunder, including all property in connection therewith or
incidental thereto.
PASSED AND ADOPTED this 12th day of July 1983, by the following
vote:
AYES: McCandliss, Scott, Cox, Moore
NOES: None ~ ~2, ~__~
ABSENT: Malcolm
IS E AL] ~fMayor
Chula Vista
ATTEST: