HomeMy WebLinkAbout1991-062
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RESOLUTION NO. 91-62
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO APPROVING A LOAN OF A PORTION OF INTERIM COMMUNITY
DEVELOPMENT BLOCK GRANT FUNDS FOR THE BASELINE/MEDICAL CENTER
DRIVE PROJECT.
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WHEREAS, there is proposed a development in the City of San
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Bernardino known as the West Side Plaza; and
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WHEREAS, such development is critical to the economic
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improvement of the west side of the City of San Bernardino; and
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WHEREAS, in developing said project there is a need for
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additional financing; and
WHEREAS, the Community Development Block Grant Fund loan
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program may be used for such development financing;
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON
COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
SECTION 1.
The City of San Bernardino hereby approves a
Community Development Block Grant Fund loan in an amount not to
exceed $450,000 for a term of four (4) years at an interest rate
of zero percent (0%) to San Bernardino Redevelopment Agency for
the construction of the shopping center to be developed at
Baseline Street and Medical Center Drive in a cooperative effort
with New Frontier Commercial Properties, Inc. to provide economic
improvements to the west side of the City of San Bernardino.
SECTION 2. Resolution No. 88-287 is hereby repealed.
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DAB/ses/Project.res
February 11, 1991
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1 RESOLUTION. . . APPROVING A LOAN... FOR THE BASELINE/MEDICAL
CENTER DRIVE PROJECT.
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I HEREBY CERTIFY that the foregoing resolution was duly
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adopted by the Mayor and Common Council of the City of San
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Bernardino at a
Regular
meeting thereof, held on the 18th
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day of February
, 1991, by the following vote, to wit:
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Council Members:
AYES
NAYS
ABSTAIN
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ESTRADA
x
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REILLY
x
FLORES
x
MAUDSLEY
x
MINOR
x
POPE-LUDLAM
x
MILLER
x
a~ %~t--
Ci ty 'Clerk, Rachel Krasnef
The foregoing resolution is hereby approved
",
is 20th
day
of
//
February
, 1991.
Approved as to
form and legal content:
JAMES F. PENMAN,
City Attorney
B~Mv
DAB/ses/Project.res
February 11, 1991
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