Laserfiche WebLink
end of the loan term if Building Futures is not in default on any of the Loan’s covenants, conditions, and <br />requirements; and <br /> <br />WHEREAS, because Building Futures leases the Property from Saint Leander’s Church and does not own <br />the Property, the CDBG Loan cannot be secured by a deed of trust and will be an unsecured loan. <br /> <br />NOW, THEREFORE, the City of San Leandro City Council hereby RESOLVES as follows: <br />1. The above recitals are true, correct, and made a part of this Resolution. <br />2. The ARPA Grant and CDBG Loan is approved and the City Manager is authorized to execute the CDBG <br />Loan Agreement, substantially in the form attached hereto as Attachment B and the ARPA Grant Agreement, <br />substantially in the form attached hereto as Attachment C after approval as to form by the City Attorney. <br />5. The City Manager, or her designee, is authorized to use Fiscal Year 2022-2023 CDBG funds in the <br />amount of $65,229 to account 165-43-135-5240, and $85,000 from ARPA fund account 190-63-825-5240 to <br />execute such documents and to take such other actions necessary to carry out the intent of this Resolution. <br />6. This Resolution takes effect immediately upon its adoption. <br />Introduced by Councilmember _______ and passed and adopted this 20th day of JUNE 2023, by the <br />following vote: <br /> <br />AYES: <br /> <br />NOES: <br /> <br />ABSENT: <br /> <br />ATTEST: <br />Kelly B. Clancy, CMC <br />City Clerk <br /> <br /> <br />