HomeMy WebLinkAbout2000-007
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RESOLUTION NO. 2000-7
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL
APPROVING AND AUTHORIZING AN APPLICATION FOR A
SECTION 108 LOAN GUARANTEE FUNDING IN THE AMOUNT OF
$1,840,000 FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT (HUD).
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WHEREAS, under Section 108 of the Housing and Community Development Act of
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1974, future Community Development Black Grant (CDBG) funds may be pledged as security
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for loans to eliminate slums or blight and promote economic development; and
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WHEREAS, the U.S. Department of Housing and Urban Development has authorized
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Section 108 Loan Guarantee funding; and
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WHEREAS, loan application procedures eS1ablished by HUD require the applicant to
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certifY by resolution 1he approval of the application.
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NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON
COUNCIL OF THE CITY OF SAN BERNARDINO, CALIFORNIA, THAT:
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SECTION 1. That the mayor and Common Council hereby approve and authorize an
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applica1ion for Section 108 Loan funds in 1he amount of $1 ,840,000.
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SECTION 2. That said loan funds are to be used for the acquisition and restoration of
the State Office Building at 303 West 3'd Street as follows: I) Loan #1 building acquisition
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$500,000, parking land acquisition $330,000 and asbestos remedia1ion $510,000 and 2) Loan #2
remedia1ion $230,000 and in1erest reserves $270,000.
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SECTION 3. That the Mayor is hereby authorized to execute said application and
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related documents as maybe required by HUD.
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2000-7
I RESOLUTION OF THE MAYOR AND COMMON COUNCIL APPROVING
AND AUTHORIZING AN APPLICATION FOR A SECTION 108 LOAN
2 GUARANTEE FUNDING IN THE AMOUNT OF $1,840,000 FROM THE U.S.
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD).
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I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and
Common Council of the City of San Bernardino at a joint reqular
meeting thereof, held
on 10th
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Council Members:
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ESTRADA
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LIEN
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MCGINNIS
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SCHNETZ
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SUAREZ
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ANDERSON
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MILLER
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day of January , 2000, by the following vote, to wit:
AYES NAYS ABSTAIN ABSENT
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The foregoing resolution is hereby approved this
Januarv
2000.
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Approved as to form and Legal Content:
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24 BY:---.J ~ ~
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