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52 <br /> <br /> Item 12d <br /> Third Ouarter 1991-92 Financial RePort (SR92:207) <br /> <br /> There was no testimony. <br /> <br /> It was moved by Mr. Butler, seconded by Ms. Scribner, to adopt <br /> Resolution No. 92-106, which amends the 1991-92 Operating and <br /> Capital Improvement Program (CIP) Budgets as follows: a) increase <br /> General Fund Revenue projections by $375,000 and appropriate an <br /> additional $60,000 for sales tax auditor commissions; b) increase <br /> Lower Income Housing Revenue projections by $30,000; c) amend the <br /> CIP per Appendix C of the staff report; and d) authorizes technical <br /> corrections to various Fund names and establish the Data Processing <br /> Replacement and Improvement Fund. <br /> <br /> The roll call vote was as follows: <br /> AYES: Councilmembers Butler, Mohr, Scribner, Tarver and Mayor <br /> Mercer <br /> NOES: None <br /> ABSENT: None <br /> ABSTAIN: None <br /> <br /> ~3. REPORTS OF THE CITY ATTORNEY <br /> <br /> Item 13a <br /> Discussion Reqardinq Aqreement Between Bay Area Community Services <br /> {BACS) and the City to Fund a Six-unit Apartment Buildinq Located <br /> at 4344 Railroad Avenue. <br /> <br /> Mr. Eric Uranga, Alameda County Housing and Community <br /> Development, reviewed the history of the project. A six-plex at <br /> 4344 Railroad Avenue is proposed for rental to very low income <br /> persons. The funding includes $100,000 from the City of <br /> Pleasanton, $80,000 from Alameda County for rehabilitation, $40,000 <br /> from the State of California, $50,000 from Art Dunkley, and <br /> $240,000 from HUD's McKinney Grant Program. After a year of <br /> negotiating for the McKinney program funds, they are ready to close <br /> the loan. If Bay Area Community Services fails in its agreement to <br /> keep the project at very low income, then the McKinney program will <br /> receive its money back. This puts the City of Pleasanton in second <br /> place with the risk of losing all, or a portion, of its 8100,000 <br /> investment if Alameda County cannot find a nonprofit organization <br /> to replace BACS. BACS has been around for twenty years and <br /> successfully operated 10-20 projects. Two years ago, the City was <br /> at equal risk, which has now changed. Council must be aware of <br /> that and authorize taking a junior position. <br /> <br /> Mr. Mercer indicated the Affordable Housing Task Force had <br /> recommended this unanimously <br /> <br /> 5/19/92 2o <br /> <br /> <br />