Resolution 10301CITY OF ALAMEDA RESOLUTION NO. 10301
APPROVING A LOAN AGREEMENT FOR $1,786,000 OF URBAN
DEVELOPMENT ACTION GRANT FUNDS WITH ALAMEDA MARINA
CENTER ASSOCIATES
WHEREAS, the Secretary of Housing and Urban Development
has awarded Urban Development Action Grant (UDAG) funds to the
City of Alameda for the specific purpose of making the funds
available as a loan to the development of Alameda Marina Village
and
WHEREAS, Alameda Marina Center Associates, the developers,
have agreed to repay the UDAG loan at the interest rates and
terms specified by the City, with sufficient security.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE
CITY OF ALAMEDA that the Loan Agreement prepared and reviewed
by both parties be executed and become an integral part of the
UDAG Grant Agreement between the City and the Department of
Housing and Urban Development.
BE IT FURTHER RESOLVED that the City Manager, be, and
he hereby is, authorized to execute said Loan Agreement for and
on behalf of the City of Alameda and the City Clerk is hereby
authorized and directed to attest to same.
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 17th of April, 1984,
by the following vote to wit:
AYES: Councilmembers Gorman, 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 18th day of April, 1984.
J
City Clerk of the City i Alamed,