HomeMy WebLinkAbout95-03 RDA ResolutionRF~OLUTION NO. RDA 9503
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY
OF TEMECULA HEREBY AIYFHORIZES THE SUBMITTAL OF AN
APPLICATION TO THE ECONOMIC DEVELOPMENT AGENCY OF
THE COUNTY OF RIVERSIDE FOR FUNDING UNDER THE HOME
INVESTMENT PARTNERSHIPS PROGRAM FOR ACQUISITION OF
150 UNITS; THE EXECUTION OF A STANDARD AGREEMENT IF
SELECTED FOR SUCH FUNDING AND ANY AMENDMENTS
TltERETO; AND ANY RELATED DOCUMENTS NECESSARY TO
PARTICIPATE IN THE HOME INVESTMENT PARTNERSNIPS
PROGRAIVI.
WHEREAS, the City of Temecula, a political subdivision of the State of California, or
a non-profit corporation wishes to apply for and receive an allocation of funds through the
Home Investment Partnerships Program (hereinafter referred to as "HOME"); and
WltEREAS, the Economic Development Agency (hereinafter referred to as "County")
has issued a Notice of Funding Availability for the HOME program and is authorized to
approve funding allocation which will be made available direcfiy through the U.S. Department
of Housing and Urban Development (HUD) to be used for the purposes set forth in Tifie II of
the Cranston-Gonzales National Affordable Housing Act of 1990, the implementing
regulations set forth in Tifie 24 of the Code of Federal Regulations, part 92; and
WHEREAS, the City of Temecula wishes to submit an application to obtain from the
Agency an allocation of HOME funds;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Temecula as follows:
Section 1. The City of Temecula shall submit to the County an application to
participate in the HOME program which will request a funding allocation for the following
activities:
Acquisition of the Rancho West Apartments (150 Units) located in Temecula.
Section 2. If the application for funding is approved, the City of Temecula, hereby
agrees to use the HOME funds for eligible activities in the manner presented in the application
as approved by the Department and in accordance with regulations cited above. It also may
execute any and all other instruments necessary or required by the Department of HUD for
participation in HOME.
Resos.Rda\95-03 I
Section 3. If the application for funding is approved, the City of Temecula, hereby
agrees to provide $37,500 (25 % of requested funds) in matching funds per the federal
requirements.
Section 4. The City of Temecula, authorizes the Mayor to execute in the name of
City of Temecula, the application, the Agreement for use of HOME funds, and all other
documents required by the Agency or HUD for participation in the HOME program, and any
amendments thereto.
PASSED, APPROVED AND ADOPTED, by the City Council of the City of
Temecula at a regular meeting held on the 25th day of April, 1995.
Ronald J. Parks, Chairperson
ATrF~T:
City Clerk/Board Secretary
[SEAL]
Resos.Rda\95-03 2
STATE OF CALIFORNIA)
COUNTY OF RIVERSIDE)
CITY OF TEMECULA)
$$
I, June S. Greek, City Clerk of the City of Temecula, HEREl~Y DO CERTIFY that the foregoing
Resolution No. RDA 95-03 was duly adopted at a regular meeting of the City Council of the City
of Temecula on the 25th day of April, 1995, by the following roll call vote:
AYES: 4 COUNCILMEMBERS: Lindemans, Mufioz, Parks,
NAYS: 0
ABSENT: 0
ABSTAINED: 1
COUNCILMEMBERS:
COUNCILMEMBERS:
COUNCILMEMBERS:
Roberts
None
None
Stone
City Clerk/Board Secretary
Resos.Rda\95-03 3