HomeMy WebLinkAboutReso 72-2011 RESOLUTION NO. 72 -2011
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROVING THE EXECUTION OF A
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG)
REHABILITATION PROGRAM LOAN AGREEMENT WITH
BUON GUSTO RISTORANTE IN THE AMOUNT OF $25,000
FOR THE EXPANSION OF THE PROPERTY LOCATED AT
222 -224 GRAND AVENUE
WHEREAS, Buon Gusto Ristorante, ("Borrower") leases the property located in the at
222 -224 Grand Avenue, and known as San Mateo County Assessor's Parcel No. 012 - 315 -120
(the "Property "), and Borrower has applied to City of South San Francisco ( "City ") for financing
in order to rehabilitate and improve the Property (the "Project "); and
WHEREAS, the Project will be of benefit to the City because it will improve the
streetscape appearance of the Property, permit Borrower to expand Borrower's restaurant, and
provide increased job and economic development opportunities; and
WHEREAS, the proposed Community Development Block Grant ( "CDBG ")
Rehabilitation Program financing for the Project constitutes a loan in the amount of Twenty Five
Thousand Dollars ($25,000).
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco that the City Council hereby approves the execution of a CDBG Rehabilitation
Program Loan Agreement with Buon Gusto Ristorante in the amount of twenty five thousand
dollars ($25,000), and authorizes the City Manager to execute all necessary loan documents in a
form acceptable to the City Attorney, and to take such other actions reasonably necessary to
carry out the intent of this Resolution.
* * * * *
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 regular meeting held on the 8 day of
June 2011 by the following vote:
AYES: Councilmembers Mark Addiego and Pedro Gonzalez,
Vice Mayor Richard A. Garbarino and Mayor Kevin Mullin
NOES: None
ABSTAIN: None
ABSENT: Councilmember Karyl Matsumoto
If
ATTEST:
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