HomeMy WebLinkAboutReso RDA 28-2000 RESOLUTION NO. 28-2000
REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO,
STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING EXECUTION OF THE
PERMANENT LOAN AGREEMENT WITH BRIDGE
HOUSING CORPORATION IN AN AMOUNT NOT TO
EXCEED $2.7 MILLION TO FINANCE THE ACQUISITION OF
THE PROPERTY AND THOSE PORTIONS OF THE
DEVELOPMENT AND CONSTRUCTION COSTS NOT PAID
BY THE HUD 202 GRANT FOR THE CHESTNUT CREEK
SENIOR HOUSING PROJECT
WHEREAS, it is recommended that the Agency Board authorizes execution of the
Permanent Loan Agreement with Bridge Housing Corporation for the Chestnut Creek Senior
Housing Project.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of
South San Francisco that it hereby authorizes execution of the Permanent Loan Agreement with
Bridge Housing Corporation in an amount not to exceed $2.7 Million, to finance the acquisition
of the property and those portions of the development and construction costs not paid by the
HUD 202 grant for the Chestnut Creek Senior Housing Project, on the comer of Mission Road
and Chestnut Avenue.
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 Special meeting held on the 21st
day of November , 2000 by the following vote:
AYES: Boardmembers Pedro Gonzalez and Eugene R. Mullin, Vice Chair Joseph A.
Femekes and Chair Karyl Matsumoto
NOES: None.
ABSTAIN: None.
ABSENT: Boardmember John R. Penna
ATTEST: ~x,,i a.' /'-~), 4,w,..._.
Clerk
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