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CITY COUNCIL OF THE CITY OF PLEASANTON <br />ALAMEDA COUNTY, CALIFORNIA <br />RESOLUTION NO. 03-043 <br /> <br />RESOLUTION APPROVING THE GROUND LEASE, <br />PREDEVELOPMENT LOAN AGREEMENT, PROMISSORY <br />NOTE AND THE PROJECT FINANCIAL STRUCTURE FOR <br />THE PROPOSED ASSISTED LIVING FACILITY BEING <br />DEVELOPED BY BRIDGE HOUSING CORPORATION AND <br />LYTTON GARDENS SENIOR COMMUNITIES <br /> <br />WHEREAS, <br /> <br />at its meeting of May 6, 2003, the City Council reviewed the report submitted by <br />the Deputy City Manager (SR 03:127) regarding the legal documents for the <br />proposed assisted living facility ("the project") to be located at 100 Junipero Street; <br />and <br /> <br />WHEREAS, a duly noticed public hearing was held at which time the public was given the <br /> opportunity to comment on the above documents; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section 1: <br /> <br />The City Council approves the Ground Lease, the Predevelopment Loan <br />Agreement, and the Promissory Note in the amount of $949,805, copies of which <br />are attached hereto. <br /> <br />Section 2: <br /> <br />Approves the projecfs general financial structure, including the concept of a <br />permanent loan in the amount of $2,490,000 and the utilization of the Lower <br />Income Housing Fund to pay City development fees and the School Impact Fee on <br />behalf of the developer. <br /> <br />Section 3: This resolution shall become effective immediately upon its passage and adoption. <br /> <br /> <br />