Resolution 10677CITY OF ALAMEDA RESOLUTION NO. 10677
AUTHORIZING EXECUTION OF A GRANT AGREEMENT WITH
THE ECONOMIC DEVELOPMENT CORPORATION OF ALAMEDA
FOR FISCAL YEAR 1985-86
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 $31,727 in Eleventh year
funds and carried over $15,573 in Ninth year funds from the
Community Development Block Grant Entitlement grant for the
purpose of funding operating costs; and
WHEREAS, the City has programmed $90,500 in Eleventh year
funds and carried over $56,250 in Ninth year funds for loan
capital needs of the Subgrantee; 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; 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 is hereby authorized to execute
for and on behalf of the City of Alameda a Grant Agreement with
the Economic Development Corporation of Alameda for fiscal year
1985-86.
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 2nd of July, 1985,
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 3rd day of July, 1985.
4p
City • erk of the City of Alameda