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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br />ALAMEDA COUNTY, CALIFORNIA <br /> <br />RESOLUTION NO, 94-1~-7 <br /> <br />RESOLUTION AUTHORIZING THE TRANSFER OF <br />$275,000 FROM THE LOWER INCOME HOUSING IN-LIEU <br />TRUST FUND TO THE CITY'S GENERAL FUND IN <br />CONNECTION WITH THE CASE AVENUE PROJECT <br /> <br />WHEREAS, <br /> <br />the City Council has granted growth management ~pproval to the Case Avenue <br />Associates ("the developer") for the Case Avenue Project, a lower income <br />housing project; end <br /> <br />WHEREAS, such approval requires the developer to obtain 46 building penits by <br /> December 31, 1994; and <br /> <br />WIlEPEAS, the developer has not obtained final construction funding for the project; and <br /> <br />VerlEPEAS, it is in the City's interest that the developer not lose these 46 growth management <br /> approvals; and <br /> <br />WHEREAS, <br /> <br />City staff has recommended that the City Council transfer $275,000 from the <br />City's Lower Income Housing Fund to the City's General Fund to pay for the 46 <br />building permits; and <br /> <br />WHEREAS, the developer will repay this sum to the City when it obtains its construction <br /> financing; and <br /> <br />WHEREAS, at its meeting of December 13, 1994, the City Council reviewed the report of the <br /> Assistant City Manager (SR 94:414) regarding this matter. <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section 1: <br /> <br />Authorizes the transfer of $275,000 from the Lower Income Housing In-lieu Trust <br />Fund to the City's General Fund in order to pay for 46 building permits for the <br />Case Avenue Project, <br /> <br /> <br />