Resolution 11757CITY OF ALAMEDA RESOLUTION NO. 11757
AUTHORIZING EXECUTION OF GRANT AGREEMENT WITH
THE ECONOMIC DEVELOPMENT CORPORATION OF ALAMEDA
FOR OPERATING, SMALL BUSINESS DEVELOPMENT AND EQUITY PARTICIPATION FUNDS
IN FISCAL YEAR 1989 -90
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 $42,000 in prior years' Community
Development Block Grant Entitlement (CDBG) funds for Economic
Development Corporation of Alameda operating costs; and
WHEREAS, the City has carried forward $144,742 in prior years' CDBG
($61,742) and Commercial Revitalization ($83,000) funds for projects
involving the EDCA's equity participation and for financing loans to
small- and medium -size businesses in Alameda's historic downtown and
neighborhood commercial areas; and
WHEREAS, the City's economic development policy calls for the
establishment and operation of a local development corporation for the
purpose of providing financial and technical assistance to small
businesses in the City, including:
- Creating new private sector permanent jobs for Alameda;
- Encouraging expansion of existing businesses and development of
new businesses in Alameda;
- Stimulating private sector reinvestment in the business districts
and neighborhood commercial areas;
- Encouraging tenant ownership of commercial properties; and
WHEREAS, the Subgrantee represents that it is qualified to provide such
financial and technical assistance;
NOW THEREFORE, BE IT RESOLVED by the Council of the City of Alameda that
the City Manager be and hereby is authorized to execute, and the City
Clerk to attest, on behalf of the City, an agreement with the Economic
• Development Corporation of Alameda for Operating, Small Business
• Development and Equity Participation Funds for Fiscal Year 1989 -90.
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 5th of July, 1989,
by the following vote to wit:
AYES: Councilmembers Arnerich, Camicia, Thomas, Withrow
and President Corica 5.
NOES: None,
ABSENT: None,
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of said City this 6th day of
July, 1989.
City Clerk of the City of Alameda