HomeMy WebLinkAbout1988-054
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RESOLUTION NO.
RESOLUTION OF THE CITY OF SAN BERNARDINO REQUESTING THE
COUNTY OF SAN BERNARDINO TO LOAN A PORTION OF INTERIM COMMUNITY
DEVELOPMENT BLOCK GRANT FUNDS FOR THE BASELINE/MEDICAL CENTER
DRIVE PROJECT.
WHEREAS, there is proposed a development in the City of San
Bernardino known as the Baseline/Medical Center Drive Shopping
Center; and
WHEREAS, such development is critical to the economic
9 improvements of the west side of the City of San Bernardino; and
10 WHEREAS, in developing said project there is a need for
11 additional financing;
12 WHEREAS, the Community Development Block Grant Funds loan
13 program may be used for such development financing; and
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WHEREAS, the City of San Bernardino has committed
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18 COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
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$1,250,000 of its Interim Community Development Block Grant Funds
to the project for three years at one percent (1%) interest.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON
The City of San Bernardino hereby requests favorable action
by the Board of Supervisors of the County of San Bernardino on
the request for a $2,750,000 loan of the Interim Community
Development Block Grant Funds for three years at three percent
(3%) interest, to the Baseline/Medical Center Drive Shopping
24 Center Project in a cooperative effort to provide economic
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improvement to the west side of the City of San Bernardino.
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
2-25-88
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1 Bernard ino at an adjourned reQular
meeting thereof, held
2 on the 29th day of
, 1988, by the
February
following vote, to wit:
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11 of
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Counc il Member s Estrada, Flores, Maudsley,
AYES:
Minor, Pope-Ludlam, Miller
NAYS:
None
ABSENT:
Council Member Reilly
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)> City Clerk
The foregoing resolution is hereby approved this ~~ day
March
, 19a1
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Mayor of/the City of San Bernardino
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Approved as to form
15 and legal content:
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17 "cF\:Y Attorney
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2-25-88
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