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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 89-32 <br /> <br /> RESOLUTION AUTHORIZING SUBMITTAL OF AN <br /> APPLICATION TO THE STATE OF CALIFORNIA <br /> BOND MORTGAGE AND TAT CREDIT ALIOCATION <br /> COMMITTEE FOR THE SYNDICATION OF THE <br /> RIDGE VIEW COMMONS HOUSING PROJECT <br /> <br />WHEREAS, at its meeting of January 17, 1989, the City <br /> Council reviewed the report of the Assistant City <br /> Manager (SR 89:41) regarding a request to begin the <br /> syndication process for the Ridge View Commons <br /> Housing Project; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section 1: Council authorizes the preparation and submittal <br /> of an application for tax credit authority to the <br /> State Mortgage Bond and Tax Credit Allocation <br /> Committee. <br /> <br />Section 2: Council authorizes the preparation of a Proforma <br /> Tax Credit Breakdown in order to begin negotiations <br /> with prospective limited partners (financial <br /> corporation). <br /> <br />Section 3: Council authorizes the preparation of the <br /> necessary limited partnership documents in draft <br /> form in order to negotiate deal points with the <br /> financial corporation. <br /> <br />Section 4: Authorizes the allocation of $25,676.00 from the <br /> Ridge View Commons Construction Contingency Fund to <br /> begin the syndication process for Ridge View <br /> Commons. <br /> <br />Section 5: This resolution shall become effective <br /> immediately upon its passage and adoption. <br /> <br /> <br />