Resolution 11229CITY OF ALAMEDA RESOLUTION NO. 11229
AUTHORIZING EXECUTION OF A GRANT AGREEMENT WITH THE ECONOMIC DEVELOPMENT
CORPORATION OF ALAMEDA FOR FINANCIAL AND TECHNICAL ASSISTANCE TO SMALL
BUSINESSES IN FISCAL YEAR 1987-88
WHEREAS, the City is 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 $42.000 in FY 1987-88 in
Community Development Block Grant Entitlement funds for EDCA operating
costs; and
WHEREAS, the City has carried over $283,895 in prior years' CDBG
Entitlement ($188,895) and UDAG loan repayment funds ($100.000) 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
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technical assistance;
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WHEREAS, EDCA is qualified to provide such financial and
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NOW, TB2BBF0@8, BE IT RESOLVED by the Council of the City of
Alameda that the City Manager be and hereby is authorized to exacota,
and the City Clerk to ntteat, on behalf of the City, a Grant Agreement
with the Economic Development Corporation of Alameda for Operating and
Small Business Development Funds for Fiscal Year 1987-88.
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 7th of July, 1987,
by the following vote to wit:
AYES: Councilmembers Camicia, Haugner, Monsef, Thomas
and President Corica - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of said City this 8th day of
July, 1987.
City lerk of the City of Alameda