Resolution 10434CITY OF ALAMEDA RESOLUTION NO. 10434
AMENDING GRANT AGREEMENT WITH THE ECONOMIC DEVELOP-
MENT CORPORATION OF ALAMEDA
WHEREAS, the City is a participant in the Community
Development Block Grant Program authorized under the Housing
and Community Development Act of 1974, as amended; and
WHEREAS, the City has programmed funds from the Community
Development Block Grant Entitlement grant for the purposes
of funding administrative costs and loan capital needs of the
Grantee; and
WHEREAS, the City's economic development policy calls
for the establishment and operation of a certified development
corporation for the purpose of providing financial and technical
assistance to small businesses in the City; and
WHEREAS, on December 7, 1983 the City'of Alameda and
the Economic Development Corporation of Alameda entered into
an Agreement regarding the use of C.D.B.G. funds for administra-
tive overhead and Corporation seed capital; and
WHEREAS, it is in the interests of both the City of
Alameda and the Economic Development Corporation of Alameda
to amend said Agreement;
NOW, THEREFORE, BE IT RESOLVED by the Council of the
City of Alameda that the Grant Agreement is hereby amended to:
(a) Delete Section 2, Paragraph (d);
(b) Extend the term of the Grant Agreement specified
in Section 4 to June 30, 1985; and
(c) Amend the second sentence of Section 2, Paragraph
(c) to read as follows: "Each request for loan
funds shall include a statement of the specific
purpose(s) for which the loan funds shall be used
and a description of how the use of said funds
will address the broad national objectives of the
C.D.B.G. program, i.e. provide a benefit to low-
and moderate-income persons and/or aid in the
prevention or elimination of slums and blight."
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 regular meeting assembled on the 4th of September, 1984,
by the following vote to wit:
AYES: Councilmembers Gorman, Hanna, Lucas, Monsef and President Diament - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, L have hereunto set my hand and affixed the
official seal of said City this 5th day of September, 1984.
City Clerk of the City of Alameda