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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 84 - 37 <br /> <br /> RESOLUTION EXPRESSING THE CITY'S INTENTION TO ISSUE <br /> REVENUE BONDS FOR THE ACQUISITION, CONSTRUCTION, AND <br /> INSTALLATION OF A MULTIFAMILY RENTAL HOUSING PROJECT <br /> IN AN AMOUNT NOT TO EXCEED FIFTEEN MILLION DOLLARS <br /> <br />WHEREAS, the City of Pleasanton, California, a municipal <br /> corporation of the State of California (herinafter <br /> "City"), is authorized under Chapter 7 to Part 5 <br /> of Division 31 of the California Health and Safety <br /> Code, as amended (hereinafter "Act"), to issue revenue <br /> bonds for thelp~rpose, among others, of financing the <br /> construction or development of multifamily rental <br /> housing; and to make and execute agreements, security <br /> documents and other contracts and instruments necessary <br /> or convenient in the exercise of such powers; and <br /> <br />WHEREAS, the City has been informed by a representative of <br /> Gatewood Associates (hereinafter "Developer"), that <br /> the Developer, or its successors and assigns, proposes <br /> the acquisition, construction and installation of a <br /> multifamily rental housing project consisting of <br /> approximately 200 units to be constructed on an ll-acre <br /> site near the crossing of Kamp Drive and Oakland Avenue, <br /> south of Arroyo Mocho Canal, west of the proposed <br /> extension of Oakland Avenue and north of the proposed <br /> extension of Kamp Drive and known as "Gatewood Apartments", <br /> in the City, for the purpose of providing housing for <br /> low and moderate income households (hereinafter "Project"); <br /> and <br /> <br />WHEREAS, it is currently estimated by the Developer that the <br /> Project will cost approximately Fifteen Million Dollars <br /> ($15,000,000~ and <br /> <br />WHEREAS, the Developer has requested the City to take official <br /> action declaring its intention to issue its revenue <br /> bonds to finance all or a portion of the Project so <br /> that the acquisition, construction and installation of <br /> the Project may be commenced: <br /> <br /> <br />