RES 85056 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 85-56 RESOLUTION EXPRESSING THE CITY'S INTENTION TO ISSUE REVENUE BONDS FOR THE ACQUISITION, CONSTRUCTION, AND INSTALLATION OF A MULTIFAMILY RENTAL HOUSING PROJECT IN AN AMOUNT NOT TO EXCEED 19 MILLION DOLLARS WHEREAS, the City of Pleasanton, California, a municipal corporation of the State of California (hereinafter "City"), is authorized under Chapter 7 to Part 5 of Division 31 of the California Health and Safety Code, as amended (hereinafter "Act"), to issue revenue bonds for the purpose, among others, of financing the construction or development of multifamily rental housing; and to make and execute agreements, security documents and other contracts and instruments necessary or convenient in the exercise of such powers; and WHEREAS, the City has been informed by a representative of EVH Partnership, a California general partnership, that a developer partnership, composed of EVH Partnership and F.N.S. Mortgage Service Corp., a California corporation, or some other party member of said developer partnership, or St. Andrews Development Company, Inc., a California corporation, a developer corporation, or the successors and assigns of said developer partnership or said developer corporation (hereinafter jointly and severally called Developer), proposes the acquisition, construction and installation of a multifamily rental housing project, known as Civic Square consisting of approximately 262 units to be constructed on a 13.15 acre site located immediately southwest of the Bernal Street extension at the intersection with the Southern Pacific Railroad right-of-way, and is currently a portion of the property owned by the Roman Catholic Bishop of Oakland, a corporation sole, for the purpose of providing housing for low and moderate income households (hereinafter "Project"); and WHEREAS, it is currently estimated by the Developer that the Project will cost approximately 19 million dollars ($19,000,000); and WHEREAS, the Developer has requested the City to take official action declaring its intention to issue its revenue bonds to finance all or a portion of the Project so that the acquisition, construction and installation of the Project may be commenced upon obtaining further City approvals therefor;