HomeMy WebLinkAboutReso RDA 15-2005RESOLUTION NO. 15-2005
REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION APPROVING A DISPOSITION AND
DEVELOPMENT AGREEMENT (DDA) BET'VVEEN THE CITY OF
SOUTH SAN FRANCISCO REDEVELOPMENT AGENCY AND
PENINSULA HABITAT FOR HUMANITY TO TRANSFER 440
COMMERCIAL AVENUE TO HABITAT FOR HUMANH~ FOR THE
CONSTRUCTION OF FOUR AFFORDABLE HOUSING UNITS AND
APPROVING A FORGIVABLE CONSTRUCTION LOAN OF $33,780
TO PENINSULA HABITAT FOR HUMANITY
WHEREAS, it is recommend that the Redevelopment Agency Board approve the Disposition
and Development Agreement, transfer the property to Peninsula Habitat for Humanity, and approve a
forgivable construction loan in the amount of $33,780; and
WHEREAS, under the proposed development agreement, the Redevelopment Agency will
transfer the project property to Peninsula Habitat for Humanity for one dollar ($1); and
WHEREAS, the City Council, acting pursuant to Health and Safety Code section
33433 (c) (1) has authorized the Redevelopment Agency to sell the property located
at 440 Commercial Avenue.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of
South San Francisco that the Agency hereby approves a Disposition and Development Agreement
(DDA) between the City of South San Francisco Redevelopment Agency and Peninsula Habitat for
Humanity to transfer 440 Commercial Avenue to Habitat for Humanity for the construction of four
affordable housing units and approves a forgivable construction loan in the amount of $33,780.
BE IT FURTHER RESOLVED that the Agency authorizes the Executive Director to execute
the Agreement and all related documents on behalf of the Redevelopment Agency, subject to
approval as to form by the Agency Counsel.
BE IT FURTHER RESOLVED that this resolution shall be effective upon approval of this
resolution and the City Council resolution authorizing the Redevelopment Agency to sell the
property at 440 Commercial Avenue to Peninsula Habitat for Humanity.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by
the Redevelopment Agency of the City of South San Francisco at a regular meeting held on the
25th day of May 2005 by the following vote:
AYES:
Boardmembers Richard A. Garbarino, Pedro Gonzalez and Kary1 Matsumoto,
Vice Chair Joseph A. Femekes and Chair Raymond L. Green
NOES: None.
ABSTAIN: None.
ABSENT: None.
ATTEST:
Del~u~y Clerk