Resolution 11498CITY OF ALAMEDA RESOLUTION NO,
11498
AUTHORIZING EXECUTION OF GRANT AGREEMENT WITH THE ECONOMIC
DEVELOPMENT CORPORATION OF ALAMEDA
FOR OPERATING, SMALL BUSINESS DEVELOPMENT AND EQUITY PARTICIPATION FUNDS
FOR FISCAL YEAR 1988-89
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 $42,000 in prior years Community
Development Block Grant Entitlement (CDBG) funds for Economic
Development Corporation of Alameda operating costs; and
WHEREAS, the City has carried over $50,000 in prior years' CDBG funds
for financing loans to small- and medium-sized businesses in Alameda's
historic downtowns and neighborhood commercial areas; and
WHEREAS, the City has carried over $138,742 in prior years
CDBG ($53,742) and Urban Development Action Grant Loan Repayment (UDAG)
funds ($35,000) for projects involving the Economic Development
Corporation of Alameda's equity participation; and
WHEREAS, Economic Development Corporation of Alameda is qualified to
provide such services;
NOW THEREFORE, BE IT RESOLVED by the Council of the City of Alameda that
the Interim City Manager be and hereby is authorized to execute, and the
City Clerk to attest, on behalf of the City, an agreement with the
Economic Development Corporation of Alameda for Operating, Small
Business Development and Equity Participation Funds for Fiscal Year
1988-89.
* * * * * * * *
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 5th of July, 1988,
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 6th day of
July, 1988.
City lerk of the City of Alameda