CIC Resolution 89-37COMMUNITY IMPROVEMENT COMMISSION
RESOLUTION NO. 89-37
AUTHORIZING AMENDMENT OF THE OWNER PARTICIPATION
AGREEMENT BETWEEN THE COMMUNITY IMPROVEMENT
COMMISSION AND MARINA VILLAGE
WHEREAS, the Community Improvement Commission and Marina
Village entered into an Owner Participation Agreement on December
19, 1984; and
WHEREAS, the purpose of the agreement is to effectuate
the West End Community Improvement Project which calls for the
development of the property within the project area; and
WHEREAS, the agreement contains provisions for developing
project public improvements, off-site public improvements and the
construction of housing units; and
WHEREAS, Section 7.5 of the Owner Participation
Agreement states the Commission will use the 20% set aside of tax
increment for low and moderate income housing; and
WHEREAS, the Community Improvement Commission and Marina
Village desire to amend the agreement and modify the stipulation
which governs the use of these funds and relieves Marina Village
of its Housing Affordability Program requirements, except for
the seven (7) units sold to date; and
WHEREAS, the Commission hereby determines that Marina
Village has satisfied any and all obligations to provide low and
moderate income housing in connection with the development of its
property in the West End and Community Improvement Project Area.
NOW, THEREFORE, BE IT RESOLVED that the Community
Improvement Commission of the City of Alameda hereby approves and
authorizes the amendment to the Owner Participation Agreement,
providing that Marina Village has satisfied its obligations under
the agreement to provide low and moderate income housing within
the project area and authorizing the Commission to use all
portions of the remaining Tax Allocation Bond proceeds and Tax
Increment Set-Aside, not used to make payments on the debt
, service on the Tax Allocation Bonds, in any lawful manner.
BE IT FURTHER RESOLVED that the Chairman and the
Secretary of the Commission are hereby authorized and directed to
execute said amendment on behalf of the Commission.
I, the undersigned, hereby certify that the foregoing
Resolution was duly and regularly adopted and passed by
the Community Improvement Commission of the City of Alameda
in regular meeting assembled on the 17th of January, 1989,
by the following vote, to wit:
AYES: Commissioners Arnerich, Camicia, Monsef and
Acting Chairman Thomas - 4.
N3ES: None.
ABSENT: Mayor Corica - 1.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the official seal of said Commission this 18th day of
January, 1989.
eP ,
Diane Felsch, Secretary
Community Improvement Commission
rbara Thomas, Acting Chairman
Community Improvement Commission
COMMUNITY IMPROVEMENT COMMISSION
RESOLUTION NO. 89-38
AMENDING THE AFFORDABLE HOUSING AGREEMENT
BETWEEN THE COMMUNITY IMPROVEMENT COMMISSION
AND MARINA VILLAGE BY PARTIAL TERMINATION THEREOF
WHEREAS, the Community Improvement Commission and Marina
Village entered into an Affordable Housing Agreement in September
1985; and
WHEREAS, the
housing units within
Area of which 15% of
in consideration for
Allocation Bonds and
agreement called for a phased development of
the West End Community Improvement Project
the housing units would be affordable units
assistance from the proceeds of the Tax
the Tax Increment Set-Aside; and
WHEREAS, Marina Village has constructed 130 residential
units in the project area of which seven (7) were sold as
affordable units to qualified households; and
WHEREAS, the Community Improvement Commission and the
Alameda Housing Authority have entered into an agreement for the
provision of affordable housing; and
WHEREAS, the Community Improvement Commission and Marina
Village wish to terminate as to the future provision of
affordable housing the Affordable Housing Agreement between them.
NOW, THEREFORE, BE IT RESOLVED that the Community
Improvement Commission of the City of Alameda hereby approves and
authorizes the agreement, terminating, except with respect to
obligations of Marina Village to provide and the financing
provided for the seven affordable residential units sold to
qualified households, the Affordable Housing Agreement.
I, the undersigned, hereby certify that the foregoing
Resolution was duly and regularly adopted and passed by
the Community Improvement Commission of the City of Alameda
in regular meeting assembled on the 17th of January, 1989,
by the following vote, to wit:
AYES: Commissioners Arnerich, Camicia, Monsef and
Acting Chairman Thomas - 4.
None.
ABSENT: Mayor Corica - 1.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the official seal of said Commission this 18th day of
January, 1989.
1-1
Diane F@A:ct, Secretary
Community Improvement Commission
aarbara Thomas, Acting Chairman
Community improvement Commission