Resolution 14151CITY OF ALAMEDA RESOLUTION NO. 14151
APPROVING, AUTHORIZING, AND DIRECTING THE EXECUTION OF
A JOINT EXERCISE OF POWERS AGREEMENT RELATING TO THE
CALIFORNIA MUNICIPAL FINANCE AUTHORITY
WHEREAS, the City of Alameda, California (the "City"), has expressed
an interest in participating in economic development, cultural and community
development financing programs (the "Programs") in conjunction with the
parties to that certain Joint Exercise of Powers Agreement Relating to the
California Municipal Finance Authority, dated January 1, 2004, (the
"Agreement"); and
WHEREAS, there is now before this City Council the form of the
Agreement; and
WHEREAS, the City proposes to participate in the Programs and desires
that certain projects to be located within the City, including a proposed 39 unit
multifamily rental housing project for a limited partnership to be established by
Resources for Community Development, a California non-profit corporation, or
an affiliate thereof, located at 401 Wilver "Willie" Stargell Avenue, Alameda,
California, be financed pursuant to the Programs, and it is in the public interest
and for the public benefit that the City do so; and
WHEREAS, the City pledged up to $4 million dollars of local affordable
housing funds on October 3, 2006, to facilitate the development of the proposed
39-unit multifamily rental housing project; and
WHEREAS, the Agreement has been filed with the City, and the
members of the City Council of the City, with the assistance of its staff, have
reviewed said document.
NOW, THEREFORE, be it resolved by the City Council ot the City of
Alameda as follows:
Section 1. The Agreement is hereby approved and the City Manager
is hereby authorized and directed to execute said document, with such changes,
insertions and omissions as may be approved by the City Manager, and the
City Clerk or such Clerk's designee is hereby authorized and directed to affix
the City's seal to said document and to attest thereto.
Section 2. The City Manager, the City Clerk and all other proper
officers and officials of the City are hereby authorized and directed to execute
such other agreements, documents and certificates, and to perform such other
acts and deeds, as may be necessary or convenient to effect the purposes of
this Resolution and the transactions herein authorized.
Section 3. The City Clerk of the City shall forward a certified copy of
this Resolution and an originally executed Agreement to:
Harriet M. Welch, Esq.
Squire, Sanders & Dempsey LLP.
555 S. Flower Street, 31st Floor
Los Angeles, CA 90071 -2300
Section 4. This resolution shall take effect immediately upon its
passage.
I, the undersigned, hereby certify that the foregoing Resolution was duly and
regularly adopted and passed by the Council of the City of Alameda during the Regular
Meeting of the City Council on the 16th day of October 2007, by the following vote to wit:
AYES: Councilmembers deHaan, Gilmore, Matarrese, Tam
and Mayor Johnson - 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of
said City this 17th day of October, 2007.
Lara Weisiger, City Clerk
City of Alameda