Resolution 10214CITY OF ALAMEDA RESOLUTION NO. 10214
APPROVING THE EXECUTION OF A GRANT AGREEMENT
BETWEEN THE CITY OF ALAMEDA AND THE ECONOMIC
DEVELOPMENT CORPORATION OF ALAMEDA
WHEREAS, the City of Alameda receives Entitlement Block Grant
funds from the U. S. Department of Housing and Urban Development; and
WHEREAS, the City of Alameda has sought the establishment of a
locally based economic development corporation to aid small businesses
in Alameda; and
WHEREAS, the City, as a recipient of Block Grant funds, may grant
such funds to locally based development corporations to assist small
businesses (CFR 570.204); and
WHEREAS, the Economic Development Corporation of Alameda has
been formed to fulfill the role identified in the Citys economic
development policy.
NOW, THEREFORE LET IT BE RESOLVED BY THE CITY COUNCIL, that the
City Manager is instructed to execute a Grant Agreement with the
Economic Development Corporation of Alameda for the sum of S160,280,
to be paid from the City's Block Grant funds.
LET IT BE FURTHER RESOLVED, that the funds granted to the
Economic Development Corporation of Alameda under this Agreement
shall be used for administration of the Corporation and loan capital
for small businesses that qualify under the Small Business Adminis-
tration's definition of a small business.
I, the undersigned, hereby certify that the foregoing resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in a regular meeting assembled on the 6th day of
December, 1983, by the following vote to wit:
AYES: Councilmembers Gorman, Hanna, Lucas,- Monsef and
President Diament - 5.
NOES None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 7th day of December, 1983:
City Clerk o