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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 87-227 <br /> <br /> RESOLUTION DIRECTING NEGOTIATION OF AN AGREEMENT WITH <br /> EDEN HOUSING, INC. REGARDING OWNERSHIP OF SENIOR HOUSING <br /> PROJECT <br /> <br /> WHEREAS, at its meeting of May 19,1987, Council reviewed the <br /> report (SR 87:229) of the City Manager regarding the <br /> proposed Senior Housing Project financing program; and <br /> <br /> WHEREAS, as part of the funding, it is proposed to apply for a <br /> Housing Development Action Grant (HODAG); and <br /> <br /> WHEREAS, the City may not spend these funds directly, but must <br /> lend the money to a third party owner/developer; <br /> <br /> NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br /> RESOLVES AS FOLLOWS: <br /> <br /> Section 1: Staff is directed to negotiate an agreement to be <br /> brought to Council for approval, for the transfer of the <br /> ten acre site to Eden Housing, Inc. to the extent <br /> necessary to meet HODAG requirements, and providing for <br /> the ultimate ownership of the project to return to the <br /> City. <br /> <br /> Section 2: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br /> THIS RESOLUTION ADOPTED MAY 19, 1987 BY THE FOLLOWING VOTE: <br /> <br /> AYES: Councilmembers - Brandes, Butler, Mohr, Wilson and Mayor <br /> Mercer <br /> NOES: None <br /> ABSENT: None <br /> ABSTAIN: None N/ET/ ~ <br /> ATTEST: <br /> K R. MERCER, MAYOR <br /> <br />/~ames R. Walker, City Clerk ' ~ <br /> By Doris George, Deputy City Clerk <br /> <br /> Pet~ '~. ~acDonala', C'i~ Ate0rney <br /> <br /> <br />