Resolution 10014CITY OF ALAMEDA RESOLUTION NO. 10014
AUTHORIZING THE ESTABLISHMENT OF A CERTIFIED DEVELOPMENT
CORPORATION IN ALAMEDA AND AMENDING RESOLUTION NO. 9977
WHEREAS, the City of Alameda has adopted an economic
development strategy pursuant to 570304(b)3 of the Department
of Housing and Urban Development (HUD) guidelines for Community
Development Block Grant Entitlement funds 7 and
WHEREAS, said, economic development strategy calls for
the establishment of a Certified Development Corporation (CDC)
and its operation to include development finance, technical
and financial assistance such as Small Business Administration
(SBA) 502, 503 and other programs; and
WHEREAS, the City Council of Alameda has reviewed the
membership and formation requirements of a CDC;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE
CITY OF ALAMEDA that the establishment and operation of a Certified
Development Corporation in the City of Alameda pursuant to Small
Business Administration guidelines is hereby authorized and
that staff is instructed to provide technical assistance as
necessary to assist in the formation of said corporation and
its eventual operation; and
BE IT FURTHER RESOLVED that City of Alameda Resolution
No 9977, adopted February 1, 1983, be generally amended to
read "Certified Development Corporation" instead of "Local Develop-
ment Corporation and that the reprogramming of $45,845 in Second
Year CDEG funds be available for the organization and initial
operations of the Certified Develcoment Corporation once it
is incorporated and seed funds are secured from the private
sector in keeping with the City's economic develoPment strategy.
I, the undersigned, hereby cel Lify 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 day of April, 1983,
by the following vote to wit:
AYES: Co cilmembers Diament, Sherratt, Stone and President Corica - 4.
NOES: None.
ABSENT: Counciluember Gorman - 1.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 6th day of April, 1983.