HomeMy WebLinkAboutReso 30-1992 RESOLUTION NO. 30-92
CITY COL~CIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROVING RECOMMENDATION FOR THE
DOWNTOWN COMMERCIAL REHABILITATION PROGRAM
WHEREAS, a Downtown Commercial Rehabilitation Program was
approved by the City Council as part of the federal Community
Development Block Grant Program (CDBG);
WHEREAS, the Downtown Citizens Review Committee has
recommended funding to rehabilitate the Metropolitan Hotel; and
WHEREAS, the Downtown Citizens Review Committee has set
aside $155,000 for the project in combined loans, grants and a
matching fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of San South Francisco that it hereby approves the following
budget for the Metropolitan Hotel in the Downtown Commercial
Rehabilitation Program:
1. $ 5,000
2. $ 50,000
3. $ 100,000
4. $ 150,000
CDBG Grant
Matching Grant
0% interest 15 year loan
To be contributed by the Owner
BE IT FURTHER RESOLVED that the City Manager is hereby
authorized to execute any and all documents necessary to
implemen~ the project.
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 requ]ar meeting held on the 8th
day of April , 1992 by the following vote:
AYES:
Councilmembers Jack Draqo, Joseph A. Fernekes, and
Roberta Cerri TeQlia
NOES: None
ABSTAIN: Mayor John R. Penna
ABSENT:
Councilmember Gus Nicolopulos
City Clerk