HomeMy WebLinkAboutReso RDA 2-1996 RESOLUTION NO. 2-96
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SOUTH SAN FRANCISCO APPROVING AN OWNER PARTICIPATION
AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY OF SOUTH SAN
FRANCISCO AND ROBERT AND KATHLEEN GIORGI RELATED TO A
SEVENTY THOUSAND DOLLAR ($70,000) REDEVELOPMENT AGENCY
LOAN FOR USE FOR INTERIOR REMODELING OF 211 LINDEN
AVENUE. SOUTH SAN FRANCISCO
RECITALS
WHEREAS, the South San Francisco Redevelopment Agency is
authorized to and desires to enter into an Owner Participation
Agreement which provides that the Agency shall loan Robert and
Kathleen Giorgi Seventy Thousand Dollars ($70,000) at four percent
interest (4%) for use for interior remodeling of 211 Linden Avenue,
South San Francisco, California;
WHEREAS, Robert and Kathleen Giorgi desire said loan and
approve the terms in the Owner Participation Agreement.
NOW THEREFORE, the Redevelopment Agency of South San Francisco
does hereby resolve as follows:
The Redevelopment Agency hereby approves the Owner
Participation Agreement between Robert and Kathleen Giorgi and the
Redevelopment Agency of South San Francisco including the Seventy
Thousand Dollar ($70,000) Redevelopment Agency loan referenced
therein for use for interior remodeling. The Executive Director is
hereby authorized to execute the Owner Participation Agreement on
behalf of the Redevelopment Agency of South San Francisco. A copy
of the Owner Participation Agreement is available for review at the
City Clerk's office.
* * * *
I hereby certify that the foregoing Resolution was regularly
introduced and adopted by the City Council of the City of South San
Francisco at a reg~Jlar meeting held on the 27th
day of M~rr.h , 1996 by the following vote:
AYES: B0ardmembers Eugene R. Mu]lin, John R. Penna, Robert Yee
and Chairman Jack Drago
NOES: None
ABSTAIN: None
ABSENT: Boardmember Joseph A. Fernekes
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