Resolution 1095806 146g
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CITY OF ALAMEDA RESOLUTION NO. 10958
AUTHORIZING EXECUTION OF A GRANT AGREEMENT WITH THE ECONOMIC C
DEVELOPMENT CORPORATION OF ALAMEDA FOR FISCAL YEAR 1988-87
WHEREAS, the City in a participant in the Community
Development Block Grant Program (CDBG) authorized under the
Housing and Community Development Act of 1974, as amended;
and
WHEREAS, the City has programmed $58.500 in FY
I986-87 in Community Development Block Grant Entitlement
funds for EDCA operating costs; and
WHEREAS, the City has carried over $223,750 in prior
years' CDBG Entitlement (%128.750) and UDAG loan repayment
funds (S100'000) for loan capital and equity participation
needs of EDCA; and
WHEREAS, the City's economic development policy calls
for the operation of a local development corporation for the
purpose of providing financial and technical assistance to
small businesses in the City; and
WHEREAS, EDCA represents that it is qualified to
provide such financial and technical assistance;
00W, 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 ptteet, on
behalf of the City, a Grant Agreement with the Economic
Development Corporation of Alameda for fiscal year 1986-87.
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 1st of July, 1986,
by the following vote to wit:
AYES: Councilmembers Corica, Lucas, Monsef and President Diament - 4.
NOES: None.
ABSENT: Councilmember Hanna - 1.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 2nd day of July, 1986.