Laserfiche WebLink
File Number: 13-570 <br />funds on hand in the Agency’s Low- and Moderate-Income Housing Fund and property tax <br />revenue allocated by the County Auditor-Controller from the Redevelopment Property Tax <br />Trust Fund established to pay obligations on the ROPS; and <br />WHEREAS, the Developer has proposed to expand the scope of the Project, which <br />requires certain modifications to the OPLA to reflect changed circumstances, including but not <br />limited to the site for the Project; and <br />WHEREAS, City staff and the Developer have negotiated a First Amendment to Owner <br />Participation and Loan Agreement (the “Amendment”) substantially in the form on file with the <br />City Clerk; and <br />WHEREAS, the Project and related improvements will be partially financed with the <br />proceeds of a Transit Oriented Development grant (“TOD Grant”) and an Infill Infrastructure <br />Grant (“IIG Grant”) provided by the California Department of Housing and Community <br />Development (“HCD”); and <br />WHEREAS, in connection with the TOD Grant and the IIG Grant, HCD will require the <br />City, Developer or BRIDGE Housing Corporation, a California nonprofit public benefit <br />corporation affiliated with Developer (“BRIDGE”) to execute one or more documents, including <br />but not limited to HCD standard agreements, disbursement agreements, and related <br />documents (collectively, the “HCD Documents”). <br />NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br />follows: <br />1.The above recitals are true and correct and incorporated into this Resolution. <br />2.The City Council acknowledges, ratifies, and accepts the assumption of the <br />Agency’s certain rights under the OPLA, as transferred from the Agency to the City by <br />operation of law, effective as of February 1, 2012 and as set forth in the Amendment. <br />3.The City Council approves the Amendment, and authorizes the City Manager to <br />execute the Amendment substantially in the form on file with the City Clerk and provided to <br />the City Council with such modifications as may be approved by the City Manager in <br />consultation with the City Attorney. <br />4.The City Council directs the City Manager to negotiate a Memorandum of <br />Understanding (“Memorandum”) that will describe the respective rights and responsibilities of <br />City, BRIDGE and Developer pursuant to the HCD Documents, and authorizes the City <br />Manager to execute such Memorandum in form approved by the City Manager in consultation <br />with the City Attorney. <br />5.The City Council directs the City Manager to negotiate an Indemnity Agreement <br />pursuant to which BRIDGE will indemnify the City against liability arising in connection with <br />any default by BRIDGE or Developer in connection with the Memorandum or the HCD <br />Documents, and authorizes the City Manager to execute such Indemnity Agreement in form <br />approved by the City Manager in consultation with the City Attorney. <br />Page 2 City of San Leandro Printed on 11/26/2013