Laserfiche WebLink
<br />IN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br /> <br />RESOLUTION NO. 2007-009 RDA <br /> <br />(2096) <br /> <br />RESOLUTION APPROVING THE FORGIVENESS OF A $50,000 HOUSING SET-ASIDE <br />FUND LOAN FOR REHABILITATION OF THE SAFE HOUSE FOR CORNERSTONE <br />COMMUNITY DEVELOPMENT CORPORATION <br /> <br />Recitals <br /> <br />WHEREAS, pursuant to the Promissory Note dated February 14, 2000, the <br />Redevelopment Agency of the City of San Leandro provided Recipient, Cornerstone Community <br />Development Corporation (a.k.a. Building Futures with Women and Children), with a loan in the <br />amount of Fifty Thousand Dollars ($50,000) ("Loan") for the purpose of assisting Recipient <br />with the rehabilitation of a home to be used as a safe house for battered women and their <br />children; and <br /> <br />WHEREAS, Recipient has performed the duties and rendered the services required <br />under the Agreement; and <br /> <br />WHEREAS, pursuant to the original terms of the Promissory Note, the Loan was to <br />accrue simple interest at a rate of three percent (3%) per year to be forgiven at the end of a thirty <br />(30) year loan term on February 14, 2030, provided that Recipient was not in default of the <br />Agreement; and <br /> <br />WHEREAS, the Agency desires to forgive the Loan to the Recipient in its entirety. <br /> <br />NOW, THEREFORE, the Redevelopment Agency of the City of San Leandro does <br />RESOLVE as follows: <br /> <br />That said action is hereby approved and execution thereof is hereby authorized. <br /> <br />Introduced by Agency Member ProIa and passed and adopted this 30th day of July, 2007 <br />by the following called vote: <br /> <br />Members of the Agency: <br /> <br />AYES: Members Grant, Gregory, ProIa, Souza, Starosciak, Stephens; Chair Santos (7) <br /> <br />NOES: None (0) <br /> <br />ABSENT: None (0) <br /> <br />ATTEST: <br /> <br />~~ <br /> <br />Marian Handa, Agency Secretary <br />