Resolution 10997CITY OF ALAMEDA RESOLUTION NO. 10997
APPROVING FORM AND AUTHORIZING EXECUTION OF LOAN
AGREEMENTS FOR FACADE IMPROVEMENTS AND COMMERCIAL
REHABILITATION
WHEREAS, the City Council of the City of Alameda has
determined that it is in the community's interest to upgrade and
improve the historic downtown and neighborhood commercial areas
of the City; and
WHEREAS, it has been determined that financial assistance
through the provision of below-market rate loans will encourage
the rehabilitation and beautification of commercial and mixed-use
properties; and
WHEREAS, the City Council has approved the allocation of
Community Development Block Grant and Urban Development Action
Grant Loan Repayment Funds for Commercial Rehabilitation and
Facade Improvement Loan Programs; and
WHEREAS, it is necessary that Loan Agreements and related
,-
documents be executed between the City and the borrowers of said
funds; and
WHEREAS, it has been determined that said documents are
appropriate as to form and content;
kl NOW, THEREFORE, BE IT RESOLVED by the Council of the City
\:,.1 of Alameda that the form of Commercial Rehabilitation and Facade
Improvements Loan Agreements is hereby approved; and
BE IT FURTHER RESOLVED that the City Manager is hereby
authorized to execute said Loan Agreements and Related Documents
and Amendments thereto with Borrowers of Commercial
Rehabilitation and/or Facade Improvement Loan Program funds.
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 19th of August, 1986,
by the following vote to wit:
AYES: Councilmembers Corica, 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 20th day of August, 1986.
City C`". erk of the City of Alameda