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provide the leverage needed to purchase foreclosed homes in the Tri- Valley area and retrofit <br /> them for first time homeowners. It is a fully sustainable program and is anticipated that 8 -10 <br /> homes could be acquired and turned over the first year and an average of 5 homes each year <br /> thereafter. She said representatives were wildly supportive. <br /> Vice -Mayor Thorne said the League of California Cities is attempting to place an initiative on the <br /> ballot that would prevent the state from borrowing local funds. He requested Council support for <br /> the initiative and said he is also collecting signatures. <br /> Mayor Hosterman requested and received Council support to direct staff to draft a resolution in <br /> support of the initiative. <br /> ADJOURNMENT <br /> There being no further business, the meeting was adjourned at 8:40 p.m., with a tribute to our <br /> nation's men and women serving in the military. We wish to honor the memories of those who <br /> have died in past wars in defense of our country including those who have died in the current <br /> conflicts in Iraq and Afghanistan. <br /> Respectfully su itted, <br /> Karen iaz <br /> City Clerk <br /> City Council Minutes Page 9 of 9 February 2, 2010 <br />