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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br /> RESOLUTION NO. 99- 60 (2096) <br /> RESOLUTION APPROVING FORM OF LOAN AGREEMENT BETWEEN THE <br /> CITY OF SAN LEANDRO AND CITIZENS HOUSING CORPORATION FOR <br /> THE USE OF HOME FUNDS FOR ACQUISITION AND REHABILITATION OF <br /> A 91-UNIT APARTMENT BUILDING,AUTHORIZING THE CITY MANAGER <br /> TO REQUEST AN ALLOCATION OF FEDERAL HOME PROGRAM FUNDS <br /> FOR A NON-PROFIT DEVELOPER FOR ACQUISITION OF AFFORDABLE <br /> HOUSING,AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE <br /> NECESSARY DOCUMENTS TO LOAN THE HOME FUNDS TO CITIZENS <br /> HOUSING CORPORATION <br /> Recitals <br /> WHEREAS,the City of San Leandro is committed to the goal of expanding the <br /> supply of decent and affordable housing; and <br /> WHEREAS, Citizens Housing Corporation, a non-profit housing developer <br /> submitted a proposal to acquire a 91-unit apartment building for affordable housing for <br /> low- and moderate-income persons; and <br /> WHEREAS, Citizens Housing Corporation has requested a HOME loan in the <br /> amount of$750,000 for the acquisition of the property; and <br /> WHEREAS,the proposed use of funds is permitted under guidelines of the <br /> HOME Federal Housing Grant Program; and <br /> WHEREAS,the City Manager has recommended approval of said funding <br /> allocation. <br /> NOW THEREFORE,the City Council of the City of San Leandro does <br /> RESOLVE as follows: <br /> That said allocation of funds is hereby approved; and <br /> 1 <br />