HomeMy WebLinkAboutReso 1980-10274
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RESOLUTION NO.
10274
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING A STANDBY LOAN COMMITMENT OF $700,000
TO THE CHULA VISTA REDEVELOPMENT AGENCY AND APPRO-
PRIATING SAID AMOUNT
The City Council of the City of Chula Vista does hereby
resolve as follows:
WHEREAS, the City has applied for an Urban Development
Action Grant (UDAG) to construct a parking facility, and
WHEREAS, the UDAG application is based on a private
sector investment commitment, and
WHEREAS, the Department of Housing and Urban Development
is requiring an additional commitment of $700,000, and
WHEREAS, the City now desires to loan this amount of
$700,000 to the Chula Vista Redevelopment Agency which will then
enter into an agreeement with Centre City Associates, Ltd.
NOW, THEREFORE, BE IT RESOLVED that the City Council of
the City of Chula Vista does hereby approve a loan in the amount
of $700,000 to the Chula Vista Redevelopment Agency as a standby
loan commitment for the construction of the Town Centre office
area revitalization project.
BE IT FURTHER RESOLVED that the City Council does hereby
appropriate said sum of $700,000 from the unappropriated balance
of the Reserve for Contingency - General Fund.
BE IT FURTHER RESOLVED that said loan shall require the
payment of fifteen percent (l5%) interest per annum.
Presented and Approved as to form by
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ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
CHtLA VISTA, CALIFORNIA, this 23rd
'9-A 0 , by the following vote, to-wit:
day of.
September
AYES; Ccxn:ilmen
NAYES: CCMlCilmen
ABSTAIN: Cculcilmen
ABSENT: Councimen
Scott, Gi11ow, Hyde, Cox, McCand1iss
None
None
None
GtJ&.Q ~(~
).. Mayor of the City of ChuIa Vista
ATTEST.);llj71?1<< 1JJ~b44-
/" ... City Clerk 0
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STATE OF CALIFORNA )
COUNTY OF SAN DIEGO ) SS.
CITY OF CHULA VISTA )
I, JENNE M. FUlASZ, CMC, CTY CLERK of the City of Chula Vista, California,
DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 10274
,and that the same has not been amended or repealed.
DATED
( seal)
City Clerk
107-7<1
CC-660
UNANIMOUS CONSENT FORM
IT IS HEREBY REQUESTED by the undersigned that the following
item, with the unanimous consent of the City Council of the City of
Chula Vista, be considered and acted upon by the Council pursuant
to the provisions of Section 2,04.100 of the Chula Vista City Code.
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA APPROVING A
STANDBY LOAN COMMITMENT OF $700,000 TO THE CHULA VISTA REDEVELOPMENT
AGENCY AND APPROPRIATING SAID AMOUNT
DATED September 23, 1980
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(Signature)
Unanimous Consent of the City
signatures:
&J7~(J<,
J.I}1J.
47 ~ i lJl C;;/'??L~
Council, as indicated by the following
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