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Minutes -Ciry of San Leandro Ciry Council and Page 12 <br />San Leandro Redevelopment Agency Joint Meeting -December 6,1999 <br />City Council discussion ensued regarding their fiustration with the inability of the <br />developer to work within the $750,000 previously approved by the City Council in <br />May. Concern was also expressed that, if an additional $300,000 was granted in <br />order to do the improvements that had been implied, that amount of money would <br />encumber most of the HOME funds to one project. <br />City Council Members also expressed their desire to have the health-and-safety <br />issues of the complex addressed within the funding that had already been <br />approved. <br />Staff indicated, given the concerns of the City Council in approving an additional <br />$300,000, consideration of any additional funds over and above the $750,000 <br />already granted could be considered at a later date. <br />Vice Mayor Galvan stated he feels the information given to the City Council in <br />May was inaccurate, and to commit $1 million in HOME Funds to this project <br />would be irresponsible. He indicated he would like an opinion from the City <br />Attorney on whether the City Council can revisit the project in total, including the <br />previous decision to grant them $750,000 in HOME Funds. <br />Given the City Council comments, the Mayor suggested this item be deferred to <br />the next City Council Meeting on December 20, 1999. <br />The following Motion was then introduced: <br />-- Minute Order No. 99-75, Resolution Approving a Loan Agreement Between <br />the City of San Leandro and Citizens Housing Corporation for the Use of <br />HOME Funds for Acquisition of a 91-Unit Apartment Building and <br />Authorizing the City Manager to Execute the Necessary Documents to Loan <br />the HOME Funds to Citizens Housing Corporation for 15370 Tropic Court; <br />Assessor's Parcel Number 412-0006-006-02 (provides for a loan of HOME <br />Funds in the amount of $1,050,000 for acquisition of a 91-unit apartment <br />complex at 15370 Tropic Court). Cost: $1,050,000 (HOMEFunds) (2096) <br />The City Council continued the matter of the Loan Agreement Between <br />the City of San Leandro and Citizens Housing Corporation for the Use of <br />HOME Funds for Acquisition of a 91-Unit Apartment Building at 15370 <br />Tropic Court to the December 20, 1999, City Council Meeting. <br />M/S/C Loeffler and Lothrop. Ayes: 5; Noes: 0; Abstained: Galvan; <br />Absent: Glaze <br />